MRKT3001 Walden University Tasty Snack Food Market Opportunity Analysis

User Generated

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Business Finance

MRKT3001

Walden University

Description

Tasty Snack Foods, a small, start-up gourmet food business, has a new line of gourmet potato chips. The company has been testing the chips in California, and they are selling well. They are now planning to expand the market to another state or region and have hired XYZ Corporation to do some up-front research resulting in a presentation that outlines some options for the company’s involvement in this new market. You have been given this assignment by Michael Johnson, Director of Marketing for XYZ Corporation. He has asked you to put together a report that focuses on a specific state or region and explores the viability of a market opportunity for Tasty Snack Foods to sell its gourmet potato chips.

To prepare for this Assignment:

  • Review this week’s Learning Resources.
  • Refer to the Academic Writing Expectations for 2000/3000-Level Courses as you compose your Assignment.

By Day 7

Submit your report. Use the template provided to create your report, making sure to incorporate a minimum of four scholarly sources, properly formatted, as references.

Part 1: Situational Analysis

In this part of the report, you will perform a situational analysis relevant to the particular state or region you selected. Be sure to include the following:

  • A brief introduction in which you identify the components of a situational analysis (75–150 words, or 1–2 paragraphs)
  • An appraisal of the organization’s environment, including a description of how each of the five Cs pertain to the selected region or state (150–300 words, or 2–4 paragraphs)
    • Specifically, provide a detailed description for each C regarding the challenges that Tasty Snack Foods is facing for that component.
  • An analysis of how each of the Cs affects decision making for the company (150–225 words, or 2–3 paragraphs)
Part 2: SWOT Analysis

For the second part of the report, you will perform a SWOT analysis on the Tasty Snack Foods gourmet potato chips expansion project. This should include the following:

  • An analysis of the organization’s internal and external environmental factors (150–300 words, or 2–4 paragraphs)
    • Strengths
    • Weaknesses
    • Opportunities
    • Threats
  • A breakdown of the potential traditional and digital marketing strategies based on the SWOT findings (75–150 words, or 1–2 paragraphs)
    • What suggestions related to the expansion do you have for Tasty Snack Foods based on this analysis?

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Explanation & Answer

Attached.

Food Analysis-Outline
I.

Situational Analysis
A. Target market
B. Production costs
C. Diversification

II.

SWOT Analysis
A. Affordability
B. Awareness
C. Substitution
D. Technology


Running head: FOOD ANALYSIS

1

Food Analysis
Name
Institution

FOOD ANALYSIS

2
Food Analysis

Situational Analysis
Situational analysis is the research of the market and the investigation of the structures in
the market. It allows for the investigation of the strategic decisions that the Tasty Snacks should
make in terms of decision-making as this allows for projection of the operations of the business.
There is focus on the target market in the environment and the support that guides the realistic
operations of the business (Ablaev, 2018). In the analysis of the changes in the environment,
there is setting of the growth path for the Tasty Snacks and the evaluation of the situations that
enable the competitive factors.
The environment of tasty snack foods presents both opportunities and challenges to the
business. There is focus on the ability of the Tasty Snacks to make amends o the strategies is
focusing on the profitability of the business. In the snack environment, there is increase in
regulations and this is due to the political environment. It means that the Tasty Snacks has to
consider the demand that exists in the market and meeting the consumption needs of the
consumers. The economic factors that the Tasty Snacks is likely to face is the rising costs of
production and this entails the focus on the role of the industry in steadying the rates of inflation.
It enhances the application of the costs of production in the business (Ablaev, 2018). The social
environment presents an opportunity for the business as this focuses on the changes in the
demand where consumers look forward to the quality of the gourmet snacks. The healthy options
are considered effective to the consumers and this leads to the launching of the healthier options
in the long run. With improved technology, the Tasty Snacks has the ability to meet the increased
demands of the products in the market.

FOOD ANALYSIS

3

The five c’s enable the tasty snack foods to focus on the various regions where the
competit...


Anonymous
This is great! Exactly what I wanted.

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