Marketing Plan for NISSIN FOODS
Name: Tai Kwong Fai Sam
Student No.: 1191650
As we all know, NISSIN Foods (日清食品) is the first company in the world to make instant noodles and the oldest and largest manufacturer of instant food in Japan.. But, time flies and everything has changed. Since the market of instant noodles has changed a lot, NISSIN is facing some challenges. Thus, NISSIN Foods have to change their marketing strategy if they want to maintain their success. In this essay, I will focus on the instant noodles strategy for NISSIN Foods in the next five years.
NISSIN was established in 1958. It established their most popular brand "Demae Ramen" and manufactured the world's first cup noodle. NISSIN is the largest manufacturer of instant noodles in Hong Kong.. The confidence the brand gives to its customers can be reflected in its market share. The primary financial objectives are to establishing a new image and increase the profit within 5 years.
Nowadays, there are more and more competitors in the instant noodles market. It means that NISSIN is facing a keen competition. But, NISSIN instant noodles are still one of the most favor foods in the supermarket. Recently, there are many report show that most of the instant noodles contain the quantity of fat and sodium beyond the restriction. It will increase the risk of having disease such as heart disease and cancer. Also, some expert point out that eating non fried instant noodles is healthier than eating fried instant noodles. So, the number of customer would probably decrease because of this report. A new marketing strategy is necessary for NISSIN to establish a new image.
1. Target market
NISSIN target a lot of groups to be their profitable customers. To begin with the geographic, NISSIN Foods’ target market should be at Hong Kong as majority of Hong Kong. People are very busy such as business man. Instant noodles are their favorite because instant noodles can help them save time effectively. About the age, NISSIN Foods’ target customers are teenagers such as university student living in hostel. Most of them like instant noodles because of its convenience. About the economic factor, NISSIN Food’s target market should be low income group as instant noodles can help them save money. They just pay few dollars, and then they can have a lunch or dinner. In short, NISSIN Food’s target markets are low income group and busy people.
2. Product review
NISSIN sells a wide range of products and satisfy different customers’ demands. NISSIN customers need a convenient and inexpensive dinner or lunch. Instant noodles can help them. Most of the customers expect that the perfect Instant noodles are not only can bring them convenience, but also a delicious food. So, NISSIN has many standard features foods such as tasty, convenience, fast and cheap.
3. Competitive review
There are many competitors in the instant noodles market including FOURSEA, SAUTAO, DOLL and NONGSHIM. All of these competitors are the threat for the NISSIN.
For FOURSEA and DOLL, they would not be a serious threat for NISSIN. Their products are similar to NISSIN. But, the trusted image of NISSIN is an advantage for NISSIN compared with them. So, they can not threaten the status of NISSIN.
For, Korea noodles called SHIN RAM YUN is one of the NONGSHIM’s products that many Hong Kong people like to eat. Besides, SAUTAO is another manufacture of instant noodles. A non fried instant noodle is one of the SAUTAO products. Non fried instant noodles are healthier for customers according to the opinion of experts. Nowadays, NONGSHIM and SAUTAO are the strong competitors to NISSIN as more and more people like to eat Korea food and pay attention to health.
4. Distribution place review
The products of NISSIN are distributed intensively through different ways like convenience stores, grocery shops, vending...