Ketch-Amin: Marketing Analysis and Strategy
Ketch-Amin
Final Course Project: Week 7
MKTG-522-11698 Marketing Management
Professor: Heather Teague
Sunday, June 23, 2013
DeVry University, Keller Graduate School of Management
May 18th, 2013
Table of Contents
1.0 Executive Summary 3
2.0 Situation Analysis 3
2.1 Market Summary 3-4
2.2 SWOT Analysis 4-5
2.3 Competition 6
2.4 Product Offering 6-7
2.5 Keys to Success 7-8
2.6 Critical Issues 8
3.0 Marketing Strategy 8-10
3.1 Mission 10
3.2 Marketing Objectives 10
3.3 Financial Objectives 11
3.4 Target Markets 12
3.5 Positioning 13
3.6 Strategies 14
3.7 Marketing Mix 15-16
3.8 Marketing Research 16
4.0 Controls 17
4.1 Implementation 17-18
4.2 Marketing Organization 18-19
4.3 Contingency Planning 19-20
5.0 Conclusion 20-22
References 23
2.0 Situation Analysis
There are some critical issues that I face. One is that the concept is so different and new that it may be difficult to change the largest market’s buying behavior since ketchup is a staple which consumers have become accustomed to in options and flavor. Also, since this product is a premium option and will be priced higher it will alienate a lot of those who will not pay more for an ingredient that is given away free at fast food stores and also those who have been hurt by the recent economic recession. However, the company has the capability of focusing toward niche high income and fitness focused customers who are willing to pay more for higher quality products.
2.1 Market Analysis
The ketchup and condiment industry has struggled to find ways to increase their margins. Instead, they are increasing their volume by growing into different countries. Conversely, Ketch-Amin seeks to have a higher sales and profit margin per bottle by charging a higher cost due to the increased product benefits. We know customers are willing to pay more for higher nutritional value and higher quality ingredients. Thus, my plan is to grow slow and steady while
Final Course Project: Week 7
MKTG-522-11698 Marketing Management
Professor: Heather Teague
Sunday, June 23, 2013
DeVry University, Keller Graduate School of Management
May 18th, 2013
Table of Contents
1.0 Executive Summary 3
2.0 Situation Analysis 3
2.1 Market Summary 3-4
2.2 SWOT Analysis 4-5
2.3 Competition 6
2.4 Product Offering 6-7
2.5 Keys to Success 7-8
2.6 Critical Issues 8
3.0 Marketing Strategy 8-10
3.1 Mission 10
3.2 Marketing Objectives 10
3.3 Financial Objectives 11
3.4 Target Markets 12
3.5 Positioning 13
3.6 Strategies 14
3.7 Marketing Mix 15-16
3.8 Marketing Research 16
4.0 Controls 17
4.1 Implementation 17-18
4.2 Marketing Organization 18-19
4.3 Contingency Planning 19-20
5.0 Conclusion 20-22
References 23
2.0 Situation Analysis
There are some critical issues that I face. One is that the concept is so different and new that it may be difficult to change the largest market’s buying behavior since ketchup is a staple which consumers have become accustomed to in options and flavor. Also, since this product is a premium option and will be priced higher it will alienate a lot of those who will not pay more for an ingredient that is given away free at fast food stores and also those who have been hurt by the recent economic recession. However, the company has the capability of focusing toward niche high income and fitness focused customers who are willing to pay more for higher quality products.
2.1 Market Analysis
The ketchup and condiment industry has struggled to find ways to increase their margins. Instead, they are increasing their volume by growing into different countries. Conversely, Ketch-Amin seeks to have a higher sales and profit margin per bottle by charging a higher cost due to the increased product benefits. We know customers are willing to pay more for higher nutritional value and higher quality ingredients. Thus, my plan is to grow slow and steady while