Running head: MARKETING PLAN PART B
Marketing Plan Part B
Name
Institution
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MARKETING PLAN PART B
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Marketing Plan Part B
Feedback Description and How to apply it to Improve the Plan
The feedback will form a firm basis for the improvement of the entire marketing plan in a
bid to present a vital and compelling source of sufficient about the proposed hypothetical
business. The feedback is broken down into the specific components of the initial part of the
marketing plan. As such, the discussion on how I will use the feedback to improve the plan will
be presented as per the order of the feedback. To increase the clarity of the product description
and the physical location of the business, I will include additional content as follows to increase
the clarity: The Company will provide a variety of healthy foods under the RF brand all of which
will be made up of natural ingredients such as vegetables, fiber, and whole grains. The products
will not utilize any high-calorie ingredients and cholesterol. All RF brand products will not
include any refined ingredients so as to achieve the business objective of serving the healthy
foods' market with a new set of products. I will also include additional details of the planned
business location as follows: The Company's offices will be located explicitly in 10089 N Wolfe
roads, 19700 Vallco Parkway, Cupertino, CA 95016, USA. It will be on the fifth floor, suite
number seventeen, of The Marketplace Shopping mall, opposite to the Main Street Cupertino.
The feedback will also be critical in redesigning the mission statement of Redemption
Foods in a bid to present a more comprehensive statement. I will restate the mission statement as
follows: To provide all health-conscious with the best natural and healthy foods across the entire
US by employing the most recent kitchen technologies in a bid to ensure that our customers
derive the highest utility in healthy eating. We aspire to exploit the current opportunity in the
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food market to generate substantial benefits for the customer by respecting their values and
beliefs in our endeavors and emerge as the most preferred retailer by our customers.
The last aspect of the feedback to be integrated into the marketing plan for improvement
is the modification of the environmental analysis. The thorough and objective environmental
analysis presents valuable information about the current conditions that would affect business
inception and operation. Such a review will be useful to provide useful insights to serve as a firm
basis for decision-making in the business. First, I will include the demographic aspect of the
external environment analysis to present a robust business plan. I will add this excerpt to the
marketing plan: Gagliardi (2015) argues that the demographic environment of a business is made
up of the specific persons who make up its market. As such, it unearths different aspects of the
population based on various aspects such as gender, race, age, and location. Therefore,
Redemption Foods will be focused on different demographic classes such as the old and
adolescents. The elderly Americans make up a great proportion of people with food-related
illnesses. Therefore, they will form an ideal target for RF because they are also health-conscious
and would not hesitate to purchase such foods for the sake of their health. The elderly people are
also associated with relative income stability; therefore, they can afford the naturally healthy
foods despite being priced higher than the refined foods. The business will also focus on the
employed and middle-level income earners in the American cities because they can afford the
products and are also wary of their eating habits.
To improve the competition element of environmental analysis, I will rephrase it t the
following: The US food industry is a dynamic sector characterized by the presence of many
companies offering different types of food. However, few of them offer healthy foods while the
rest are specialized in the provision of high-calorie and refined foods (Lo, 2015). First, the most
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significant competitor for the business will be McDonald's; a company that has dominated the
US food market for decades. Recently, the company realized the opportunity in the provision of
healthy foods across the country and introduced a variety of healthy foods. As such, the company
is already established in the market and could enjoy certain competitive advantages such as
economies of scale and extensive client base. It will, therefore, pose a significant challenge to
Redemption Foods because the new establishment will begin its operations from scratch.
Redemption Foods Company will also face competition from other industry players such as
Starbucks and Dominos because there is a section of the US food customers which is still
inclined to refined fast-foods. The sellers of fast foods will, therefore, pose stiff competition
despite offering different products.
I will also include the economic factors that may influence the operation of the business
in the US markets. The prevailing economic conditions and issues will significantly influence the
establishment of Redemption Foods in the US. For instance, the country's economic stability and
levels of inflation would significantly impact the business. High inflation levels would adversely
affect the business' ability to succeed. High-interest rates would leave the business and its
customers with minimal disposal income; thus, crippling its success chances. The level of
economic growth will also affect business operations in the country. If, for instance, the
country’s per capita income is high, the consumer price index will rise; implying that the chances
of high sales will be high.
Branding Strategy, Brand Name, Logo, Slogan, and Brand Extension
Branding has been utilized as a potent tool for the successful strategic push of a product
or service through target markets. Different branding strategies are applied in the development of
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viable action plans for companies to differentiate their product offerings from those offered by
their rivals. Branding entails the creation of distinctive designs for products as well as the
different advertising campaigns initiated with the aim of attracting and retaining clients through
the establishment and maintenance of differentiated presence in the marketplace (Rooney, 1995).
Therefore, there is a great need to develop a viable and robust branding strategy for Redemption
Foods Company products to ensure that they successfully infiltrate the market by beating its
competition and other market challenges.
To leverage the advantages of a vibrant branding strategy, the company will use the logo
presented above as its primary identity on the media. Because the company offers a wide range
of healthy foods, ranging from burgers to bread, the logo design was selected as a general
representation of the company’s food brands. It would be illogical to include all the food brands
on the logo because it would be too clogged. Based on the fact that the inception of the company
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and decision to invest in healthy foods was the increased health concerns related to unhealthy
eating, the business name, Redemption, was selected as an indicator of the company’s objective;
to redeem the American society from the threat of increased health problems as a result of
unhealthy eating. Imperatively, the logo presents a person seeping something from a branded
cup. It also presents an orange bowl with two eating sticks to reiterate the inherent nature of the
products offered (spoons are artificial- sticks are natural). The validity of branding is often
strengthened by the introduction of captivating brand slogans to capture the attention of the
viewers. Imperatively, the logo is laced with various slogans, including "eat healthy: live
healthy," "redefining healthy eating," and "eat to live." The success of the brand will be boosted
by the adoption of a brand extension, “Redemption Food Burger.” The development will be
expected to steer the brand through the market to achieve substantial success. The brand
extension is critical because the company will offer a wide range of burgers; thus, offering the
customers a wide range from which to make choices. Overall, Redemption Foods will create and
push a strong brand into the American food market through the RF Burger brand extension in a
bid to succeed in the market. The concept is based on the brand extension authenticity, which
acts as a potent driver for the success of brand extension (Spiggle, Nguyen & Caravella, 2012).
The success of the brand extension will also be improved by the fact that the company has
captured a cultural and consumer relational perspective in the American food market, drawing
from the danger posed by unhealthy eating habits.
Analysis of the primary and Secondary Markets
The formulation of thorough and objective analyses for the primary and secondary
markets to be targeted by redemption foods will be a critical element of segmenting the markets
in a bid to facilitate effective planning. As such, the primary and secondary markets for
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Redemption Foods in the US will be analyzed through various criteria. First, the markets will be
examined based on demographics. Due to the growing consciousness about consumer health
across the United States of America, the country has experienced substantial transition in the
consumption patterns as individuals shift from consuming inorganic foods to the consumption of
organic foods which are deemed healthier than the former. As such, the organic food market in
which Redemption Foods will operate has been classified as the fastest growing food sector in
the country. Consumers are now concerned with the purchase of more organic foods compared to
refined foods (Dettmann & Dimitri, 2009). It is, therefore, evident that the demographic analysis
of the US food market will be centered on the populations that are either health conscious or
require healthy foods due to their current health statuses. Demographically, the company will
target the millennials and baby boomer populations who make up a larger proportion of the
country's population. Moreover, the millennials form a unique set of individuals whose primary
interests are the optimization of their current health and prevention of its deterioration in the
future. As such, they are associated with high probabilities of seeking healthy foods with
sufficient vitamins, calcium, fiber, and other necessary nutrients (Granderson, 2014). They avoid
unhealthy foods such as those with cholesterol and high-calorie load. They are also reasonably
educated and understand the primacy of healthy living. Baby boomers, on the other hand, form
an attractive generation that the company can leverage to segment its markets and increase its
sales and profitability. First, the baby boomer generation is highly educated, employed, and is
believed to control more than 70% of the country’s disposable income (Granderson, 2014). The
population is also associated with a high preference for healthy foods, as they do not wish to get
old or develop health complications as a result of unhealthy eating. As such, baby boomers have
high preferences for foods laced with such nutrients as antioxidants, omega 3, calcium, and
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whole grains. Therefore, Redemption foods will leverage the market opportunities created by the
sensitivity and consciousness about the health of the two population generations. The fact that
millennials and baby boomers are educated, they are aware of the current health issues, such as
obesity, associated with unhealthy eating in the country. Therefore, they would make a potential
market for the company’s products because they would not wish to plunge themselves into such
complications.
Another demographic category of the US population that would form a lucrative market
segment for the company is the elderly adults. It is essential to highlight that old age comes with
several health challenges as the body becomes weak with time. They are associated with certain
health complications such as heart disease, diabetes, and arthritis; all of which are effectively
managed through dietary mechanisms because they lack a cure. As such, the American Heart
Association, for instance, outlines specific tips for picking healthy foods for the elderly in a bid
to ensure that their health remains stable (AHA, 2019). The health consciousness among elderly
Americans and their caregivers will create a potential market segment for the company to
exploit. Therefore, redemption foods will skillfully design customized recipes to provide healthy
foods to cater to this demographic segment in the market.
The market for Redemption Foods can also be analyzed on the basis of geographical
profile because the potential customers could be living in different areas. It is essential to
highlight that the most significant potential for the company on a geographical segmentation is
held in the cities and other urban areas. Urban residents in the US are highly informed about the
massive damage caused to the human body by the consumption of unhealthy foods. Such
information is readily available to the urbanites from a wide variety of information sources such
as news and publications that are readily available in the cities. As such, they are health-
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conscious and prefer purchasing healthy foods at the expense of unhealthy foods in a bid to
safeguard their health stability. The disposable income of the urban population is also high
compared to those living in rural areas. Therefore, the business will also focus on offering its
products in the urban areas; especially along the busy streets and shopping centers to leverage
the opportunity created by the residents.
Redemption Foods will also leverage the opportunity created by the online community
whose members hardly walk to the food outlets to make their purchases. Imperatively, the
company will establish a robust online shopping platform to enable the online community in
placing orders and maintaining contact with the business. Like all other great competitors in the
food industry, Redemption Foods will leverage online and mobile ordering for the customers to
make their purchases. It is critical to highlight that online food and grocery purchases are
expected to take up 20% of the American food market by 2025 (Daniels, 2017). The situation
presents the company with an excellent opportunity to offer its products online and deliver to
different customers. The presence of the Internet and continuous technological developments
make the utilization of online purchasing platforms inevitable as online stores are gradually
replacing the traditional brick and mortar food outlets. Therefore, adoption of the online selling
platform will increase the company’s competitiveness and pacify its market segmentation
strategy for more product offerings. Overall, the segmentation criteria to be employed by the
company are believed to add to its agility and ability to succeed in the provision of healthy foods
in the market to the identified segments.
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Positioning Statement and Perceptual Map
A viable brand positioning statement integrates and dissects the company's mission
statement to present an elaborate insight into how the company's product offering would
facilitate the achievement of a specific experience by the consumer. The product positioning
statement is, therefore, a reliable source of information about the target customers and the
desired experience to be generated by the product consumption. A brand positioning statement
for Redemption Foods will be: To reach all demographic categories with and without health
consciousness with healthy foods in a stylistic manner aimed at invoking rich experiences,
improving their health statuses, and generate sustained tastes, high quality, and high nutritional
value of natural foods at affordable prices. We offer an opportunity for customized food
preparation to increase customer confidence in the naturalness of our products through the
ingredients. The positioning statement of Redemption foods can be demonstrated in the
perceptual map below, which compares its perceived leadership over its two competitors,
McDonalds and Starbucks. Imperatively, the superiority of Redemption Foods' brand will be
centered on the integration of a great taste with the high nutritional value of the natural foods.
The company will leverage a team of employees to build great recipes and prepare outstanding
foods to beat the competition. Compared to the competitors, Redemption Foods will occupy a
higher position in the market due to its investment in nutritional value and taste.
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Relevant Customer Behavior
The target demographic markets for Demographic Foods will be the millennials, baby
boomers, seniors, urban dwellers, and the online community. The target markets are made up of
rational individuals whose preference for healthy foods will be centered on the level of
satisfaction derived from its consumption. They are fragile consumers because the slightest
deviation from the provision of healthy foods would scare them away from the business. They
are health conscious and can afford the products; therefore, they need nothing more than healthy
foods.
The appropriateness of the positioning statement for the target markets is based on the
fact that the occupants of such markets are aware of the importance of healthy eating to their
lives. As such, the positioning statement aligns their need for healthy foods to their willingness
to pay for the same and derive substantial value from consuming such products. The positioning
statement outlines the intention of the business in meeting the target market's needs at a cost. The
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logo and slogan used for Redemption Foods are based on the need to impress the customers to
select the products for the best of their health statuses. Eating healthy foods implies living
healthily because most health complications in the US are associated with eating habits. The
slogan leverages that knowledge among the consumers to present the, "Eat healthy: Live
healthy" slogan as a captivating bait for the target markets. It is a seductive tool to induce the
buyers to purchase the commodities. The logo presents simplicity; a common feature of natural
things. For instance, it entails two eating sticks as a way of exhibiting the naturalness of the
products by eliminating spoons; which are artificial components.
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References
AHA. (2019). The American Heart Association Diet and Lifestyle Recommendations. Retrieved
from https://www.heart.org/en/healthy-living/healthy-eating/eat-smart/nutrition-basics/ahadiet-and-lifestyle-recommendations
Daniels, J. (2017). Online grocery sales set to surge, grabbing 20 percent of the market by 2025.
Retrieved from https://www.cnbc.com/2017/01/30/online-grocery-sales-set-surge-grabbing20-percent-of-market-by-2025.html
Dettmann, R., & Dimitri, C. (2009). Who's Buying Organic Vegetables? Demographic
Characteristics of U.S. Consumers. Journal Of Food Products Marketing, 16(1), 79-91. doi:
10.1080/10454440903415709
Gagliardi, N. (2015). Consumers Want Healthy Foods--And Will Pay More For Them. Retrieved
from https://www.forbes.com/sites/nancygagliardi/2015/02/18/consumers-want-healthyfoods-and-will-pay-more-for-them/#582fc5c775c5
Granderson, D. (2014). Report: 3 Health-Conscious Consumer Demographics at the forefront of
Emerging Functional Food Trends. Retrieved from https://www.prnewswire.com/newsreleases/report-3-health-conscious-consumer-demographics-at-forefront-of-emergingfunctional-food-trends-300010641.html
Lo, K. (2015). We ‘Don’t Trust the Quality of Food’: Customers on Why They Cut Down on
McDonald’s, Starbucks, Chipotle. Retrieved from
https://www.thedailymeal.com/news/eat/we-don-t-trust-quality-food-customers-why-theycut-down-mcdonald-s-starbucks-chipotle/32715
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Rooney, J. (1995). Branding: a trend for today and tomorrow. Journal Of Product & Brand
Management, 4(4), 48-55. doi: 10.1108/10610429510097690
Spiggle, S., Nguyen, H., & Caravella, M. (2012). More than Fit: Brand Extension
Authenticity. Journal Of Marketing Research, 49(6), 967-983. doi: 10.1509/jmr.11.0015
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