You are the new marketing consultant for the Puget Sound Food Company based in Seattle, WA. The company manufactures many types of packaged and frozen food products currently marketed in the Northwest. The company is considering how to best grow and develop its brand and is targeting a product line extension or a new product line that can create market share and develop a competitive advantage.
Develop a new product line or product line extension. Identify the important marketing concepts that will be involved in your process. Develop a mini-marketing plan for your new product line or product extension.
Product line to be marketed and rationale for choice
Target market and the types of messages that would work for that market
Proposed plan to enter the new market
Marketing Plan for Puget Sound Food Company's New Product Line
Suggested product line to be marketed: Puget Sound Food Company can consider marketing a line of frozen gourmet seafood meals featuring wild-caught seafood from the Pacific Northwest, especially Alaska using stringent environmentally friendly fishing practices
Rationale for Choice:
Today's American consumers want gourmet meals in an instant and because of this the demand for gourmet frozen foods is on the rise.
Almost one-fifth of American adults can be counted among gourmet consumers, who are driving a $41.2 billion industry, as noted by a new report from market research publisher Packaged Facts, which is a division of MarketResearch.com. The report projects that this market will exceed $62 billion by 2009. The report also estimates that 18.3 percent of adults make an effort to eat gourmet food as often as possible (Demasi, 2005).
Furthermore, the publisher of the report, Don Montuori, asserts that companies which appeal to consumers' social consciences by offering gourmet products that are not only good for the environment but also for the workers who produce them are making the most headway among consumers (Demasi, 2005).
Psychographics information must be used to construct a profile of the target consumer and consumer data must be gathered via online customer surveys, which can help the Puget Sound Food Company to define its target market.
The target market can be all health conscious, busy individuals of middle to upper middle income between the ages of 21 and 60 with a taste for gourmet foods. This market is a little too broad and should be segmented into:
1. Those who want to eat seafood to lose weight or to become and stay healthy.
2. Those who want to eat gourmet seafood but have no time or expertise to shop for, buy and cook the seafood themselves.
3. Those who want to eat seafood that is natural and caught in an earth friendly manner.
Marketing Mix Decisions
Puget Sound Food Company can must determine product attributes and define how they benefit the different segments of the target market and what unique attributes of the product set it apart from its competitors. One way to differentiate the product is to emphasize the company's environmentally friendly fishing practices in ...
This is a discussion of how to develop a new product line or product line extension for a fictitious company called Puget Sound Food Company