28 Jun Business Situation – A food development company
Question
Business Situation for Food Development
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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