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Business Situation for Food Development

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Business Situation:

A food development company based in Rome, Italy has just developed a new tomato-based pasta sauce that is specifically formulated for consumers who have stomach ailments that typically prevent consumption of this type of food product.

1. How would you apply the market segmentation concept in developing a marketing strategy in this case? Based on your analysis, identify at least two segments for targeting. Explain why you selected the segments for targeting.

2. Marketing includes developing CRM in order to enhance the value of the product/ brand and to build long-term customer relationship. Recommend three CRM actions for customer retention and enhancing the perceived value of the product. Explain your decisions.

3. Recommend an Integrated Marketing Communication (IMC) campaign that involves at least two promotional tools. Also, develop a theme/message for the campaign, and specify any recommended sequence of the promotional activities. Explain your decisions.

4. Configure at least two product distribution channels and logistics to meet the marketing objectives and fit a variety of market environments, utilizing strategies to increase channel cooperation and minimize conflict. Explain your decisions.

5. Develop a pricing strategy for the product to meet the marketing objectives, taking into consideration different pricing approaches. (This is not the specific product price, just the approach for pricing the product) Explain your decisions.

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Solution Summary

The solution examines business situations for a food development company in Rome. Market segmentation is examined.

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1. How would you apply the market segmentation concept in developing a marketing strategy in this case? Based on your analysis, identify at least two segments for targeting. Explain why you selected the segments for targeting.
Answer:
Market segmentation can be defined as a division of market into different types of homogenous groups of consumers. There are four primary bases of market segmentations for consumer market. The market segmentation includes geographical segmentation, demographic segmentation, psychographic segmentation, and behavioral segmentation. Here as we can see that the company has produced sauce for consumers who have stomach ailments. So the company can use two segments geographic and the psychographic.
Geographic segment has been chosen because there might be many place in Italy apart from Rome where people with stomach ailments waiting for such products. Whereas the psychographic segment classify the group of people who have stomach ailments.
2. Marketing includes developing CRM in order to enhance the value of the product/ brand and to build long-term customer relationship. Recommend three CRM actions for customer retention and enhancing the ...

Solution provided by:
Jayant Kumar, MBA
Education
  • MBA, Indian Institute of Finance
  • Bsc, Madras University
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