It's Popcorn Time!
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Here's the scenario:
You have been hired as the marketing manager for It's Popcorn Time! (IPT), a purveyor of flavored popcorns and other gourmet treats. Growth has been rapid, and the owners feel it's time to expand their markets and seek new opportunities.
IPT currently sells the following products:
Flavored popcorn - in addition to common flavors such as butter, cheese, and caramel, they have patented a process for getting both thicker (chocolate) and finer (confectioners sugar) coatings to stick to the popcorn without damaging it
Snack sized pretzels, also coated with sweet and savory flavors
Cookies - IPT has subcontracted with a local bakery to produce a variety of cookies
IPT is based in Havertown, Pennsylvania and has several storefronts in and around Philadelphia. They sell the products at the storefront locations and take phone orders for delivery in the area. They also sell their products in bulk to local gift basket producers and caterers.
New Product Rollout
IPT is considering signing a contract with an Amish food manufacturer to supply typical "Pennsylvania Dutch" treats such as shoofly pie, horehound candy, and various jams and jellies. (Note: There is a substantial Amish community in nearby Lancaster, Pennsylvania, who are commonly referred to as Pennsylvania Dutch). IPT still considers itself a local, Philadelphia company and feels that the addition of Pennsylvania Dutch products will garner more local customers.
On the other hand, IPT's owner, Kiana Peterson, has been thinking of expanding the retail business to the regional level. She would like to test-market first in the tri-state area (Pennsylvania, New Jersey, Delaware) and possibly expand north and south into New York and DC Metro.
Please ignore the attachment. I just need some direction on how to start the tasks.
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Solution Summary
This solution talks about It's Popcorn Time!. It also explores the new product roll out of this company.
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SITUATIONAL ANALYSIS:
The target market of flavored popcorn can be the age group of 10 - 15, those watching moves in theaters and on TV. Those who go to matches, concerts and picnics are also targeted. The target market should be those customers that appreciate the special taste and flavor of IPT popcorn.
The main strength of IPT is that its popcorn has unique coatings that its competitors don't have. It weakness is that IPT is relatively inexperienced and has a higher cost because of the coating. There are several opportunities for IPT, it can be marketed through traditional channels like stores or can be sold through food kiosks at matches and concerts. The competitors of IPT are other snacks and popcorns. Home popped corn is also an important competitor.
The main part of the product feature is the coatings of the pop corn. These are special, they are either thicker or finer than those of the competitors. The coatings are made by a special process that is patented and so gives a first mover advantage to IPT. Most importantly, the patent provides an excellent entry barrier and so IPT is free to charge higher prices and make good profits on its popcorns.
Cookies have an excellent market in and around Pennsylvania. ...
Education
- BSc , University of Calcutta
- MBA, Eastern Institute for Integrated Learning in Management
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