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Marketing Presentation TuckyTruck

how to make it work..
by

Eos Kwan

on 12 December 2013

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Transcript of Marketing Presentation TuckyTruck

Positioning
SITUATION ANALYSIS
Consumer Analysis
Demographic: Income Level
cost-driven/price-sensitive

Demographic- Occupation
Working Class
Quality food
Location near Campus
Convenient food
Location near to office
1) Location of Truck Near to university/ office
2) Menu Items can be quickly prepared
3) Menu Items can be packed as takeaway
4) Menu Items have to be of quality
Psychographic – Lifestyle
Versatile in adopting new options
+
Emphasis on dining environment
Feasible dining environments
Truck location: near benches/tables
Foldable tables and chairs available
E.g. beside parks

Quality>Price
More-for-the same
Menu items should not settle for lesser quality just a for a price reduction
Strength
Convenience
High quality
Novel concept
Customers interaction
Lower cost of food
Fashionable appearance
Wide variety of choices
Weakness
Long preparation time
Difficulty in parking
No fixed location
Opportunities
Western-culture fanatic
Increase use of social medias
High flow of pedestrians
Only ice cream trucks at present
Fresh and hot food made-to-order
Threat
Easy entry -> potential competition
Meeting legal restrictions
e.g. regulation on hygiene
Aging population
Direct competitor:
Ice cream truck 'Mobile Softee'
Strength:
- Branding
- Product
Weakness:
- Variety

Indirect competitiors
Strength:
Branding
Location
Customer-targeted pricing
Weakness:
Variety
Promotion


Cha Chaan Teng
Strength:
Variety
Customer-targeting strategy
Collective memory
Style
Weakness:
Promotion
Environment



Marketing Analysis
SWOT Analysis
Competitor Analysis
Students

Group members
Andrew Lo Ka Fai c
Kwan Yi Nga Eos 3035074579
Lau Ka Man Tracey 3035071321
Leung Hiu Yan Aurora 3035073446
Ng Yee Lok Enoch 3035063635
Yeh Hoi Kei Jaime 3035069031
Recommendations on marketing strategy
and integrated marketing program

Marketing Strategy

Comparative advantage
Targeting and positioning
Targeting
Integrated Marketing Program
Industry Overview

Fast Food Chains: Oligopoly
Cha Chaan Teng: Monopolistic
Ice-cream Truck: Monopoly
Launch strategies
Product strategies
Industry Characteristics-Unique Characteristics
Branding strategies
Pricing strategies
Marketing objectives
High Price rigidity
-3 listed chain: Tsui Wah,
Cafe de Coral, Fairwood
-Price cut --> prisoners' dilemma
High Consistency of Food
-McDonalds: 400 page guideline
Industry Characteristics-Common
ice-cream truck: grab-and-go nature
fast food+cha chaan teng: emphasized quick dining
Opportunities of setting up food truck arising from industry characteristics
1. Continual Demand
2. Economies of Scale
fast-paced lifestyle
economic pressure: imported inflation
-external environment produced continual demand
Average costs decrease as scale expands
Set up cost spreads over large output volume
Promotion strategies
Challenges of setting up food truck arising from industry characteristics
1. High sunk capital cost
Introduction stage
promote new products
build up brand name
2. Price rigidity
High licensing cost and rent
High capital requirement
Solution: Once and for all cost
Pricing: take into account decisions of major competitors
Little room for P>MC
Price reductions immediately followed by competitors
1. Format of how we sell food-->preemptive

Solution:
(i) product differentiation
(ii) advertising for creating brand image
Growth stage
maintain good customers relations
keep customers thinking about our products
2. Food available on TuckyTruck
3.more-for-the-same

first mobile food truck in HK
seeking to find a ‘blue ocean’ of how we sell food
not easily copied by existing restaurants
Product diversification
Consumers’ taste and preference will change over time
Reduce business risk
Hong Kong style food

Western food not readily available in HK
example: ‘Macaroni with Cheese and Bacon’

offer food of comparable quality at a reasonable price

Young people:
(i) Value lifestyle and want to try out new things
(ii) limited economic ability
-Survey: The range of spending per lunch is mostly within $21-$40 and then $41-$60

Provide new experience of dining
"It is lucky to find our truck"
Iconic, classy
1. Short Dining Time
2. Product Nature: Inferior Good
3. High Set-up Cost (Sunk Cost)
Def: demand of such goods negatively correlated to people's income
Low-priced goods
E.g. Land rent, licensing cost
Fast Food Chain
Industry Characteristics-Unique Characteristics
Ice-cream Truck
Legal Barrier of Entry
Need to obtain hawkers' license
Industry Characteristics
-Unique Characteristics
Cha Chaan Teng
Heterogeneous good
Market-Skimming pricing
set higher price for the new product

Value-added pricing
value-added features
product differentiation
promote lifestyle
Year1:
Informative Advertising
Introducing new product to customers
Photos of our products uploaded on Facebook, Instagram
Persuasive Advertising
Discounts and coupons
Facebook friends page
Public relations
communicate with customers on social networking sites
Sales promotion
Buy one get one free
Student discounts
VIP points reward
-->cannot focus on large amount of customers
-->Undifferentiated targeting is impossible

Allows TuckyTruck to focus our limited resources on serving niches
Niches:
1. customers interested in food trucks and Western food we serve that are not readily available

2. Young customers longing for an iconic style of gourmet
Trend of sharing food experiences on social network in recent years
TuckyTruck as a totally new initiative in HK and are surely iconic
-->much growth potential

Placing Strategies
Areas near universities
Expand to Central business districts
Concentrated (niche) targeting
1)
Instill
Hong Kong with the food truck culture
2)
Develop
TuckyTruck into a dominating local brand
3)
Provide
high quality food to consumers.
Positioning Statement
TuckyTruck provides high quality of food choices to people in pursuit of a trendy lifestyle. By purchasing foods from TuckyTruck, customers will perceive a more stylish self
(how TuckyTruck stands out from its competitors)
Mission Statement
We aim to surprise our followers who have genuine love for food via providing quality cuisines in an unconventional manner
(how TuckyTruck wins at the marketplace
and dining experience)
https://www.facebook.com/TrickyTuckyTruck?fref=ts
Truck interface
Poster
Facebook page
'sounds ‘lucky’ for cusomers to find TuckyTruck coming to their area


daily announcement
of the route and present location on
Facebook, Instagram and Twitter.

-->create a
psychological effect
and customers will visit TuckyTruck whenever it’s around.

Similar tactic :
Lab Made
only 4 flavors of ice cream at one time, in a rotation of 2 weeks.

inviting customers to grasp a taste of classy gourmet style

Our Facebook page banner, company logo,poster our food truck are using --->black and white font with classy style

Relating TuckyTruck to ‘classy and iconic’
-->achieve image differentiation
Year 2
Group buying promotion (Groupon)
Introducing new products
Free sample for new products
2. the concept of ‘come by chance but not by search
1. Not a restaurant but an "iconic lifestyle brand”
Western and Hong Kong style cuisines
fits cultural context of HK

Regular changes on menu
provide fresh feeling to customers
add new items on half-yearly or yearly basis

Case: Lab Made
Brand name: TuckyTruck
Easy to translate and remember
Provide information to customers


Menu
Promotion video
Food
Appetizers
Deep Fried Siu-Mai
Chicken Wings in Coke
Pan Seared Ahi-Tuna
Roasted Garlic With Bacon, Spinach And Cream Cheese
Smashed And Fried Potatoes Pieces In Duck Fat
Cheesy Garlic Bread
Avocado Fries
Poutine Fries With Cheese And Smoky Bacon
Mini-Main Courses
Desserts
Chicken Pot Pie
Potato Baked With Butter, Salt, Pepper, Sliced Garlic
Muffin Smoked Bavarian Cheese, Eggs, Pepper And Ham
Macaroni With Cheese And Bacon
Salmon And Cream Cheese On Bread
Braided Spaghetti Bread
Salmon and Cream Cheese On Bread
Sweden Sauce Instant Noodles
Hamburger With Egg And Lunch Meat In Worsetershire Sauce
Egg Tart
French Eclairs With Caramel And Apple Cider Cream

Marshmallow, Strawberry & Chocolate Waffle Skewers
Berry Pie
(Blackberry/Strawberry/Raspberry/Blueberry)
Banana Bread French Toast
Sea Salt Bourbon
Icecream Wrapped In Crispy Chocolate
Perceptual Map
This is the end of our presentation
Thank you :D
Full transcript