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TruEarth Healthy Foods: Market Research for a New Product In

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Jed Walmsley

on 5 November 2014

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Transcript of TruEarth Healthy Foods: Market Research for a New Product In

TruEarth Healthy Foods:
Market Research for a New Product Introduction

Who is TruEarth
gourmet food manufacturer founded in 1993

innovator in the fresh, packaged food-industry

specializes in whole-grain products
Agenda
Overview of Company
Problem Statement
Objectives
SWOT
PESTE
Nature of Business
Consumer Analysis
Segmentation/Target market
Positioning Map
Marketing Strategy—4 P’s
Financial Analysis
Alternatives
Recommendation
Action Plan
Problem Statement
Given the success experienced by TruEarth's Cucina Fresca pasta line, Isabel Eckstein; the Brand Manager of TruEarth, must decide whether or not to launch a whole-grain pizza kit to the public. This decision must be made in a punctual fashion due to industry competition
Corporate Objectives
pursue new markets aggressively

stay one step ahead of the competition

wholesale sales must exceed $12 million

market penetration between 5-10% for new product

maintain reputation of health conscious and quality meals
Nature of the Business
Carlee Parisotto
Marisa Paine
Kayla Dumont
Jennifer Bronicheski
John Walmsley

SWOT
Strengths
one of the first companies to focus on whole-grain products
high quality ingredients
one of few companies to master taste in whole-grains
time conscious meal kits
variety of products in pasta line
Weaknesses
initial product development process was unstructured and intuition driven

projections vary from actual market performance

not everyone at TruEarth believes in prosperity of launching a pizza line
Opportunities
increasing demand for healthy alternatives

popularity of pizza in the United States

no major competitors in store-bought, whole-grain category

expanded product line could yield high revenues
Threats
Direct
Rigazzi
Nestle:
DiGiorno
Tombstone
Jack's
California Pizza Kitchen
Indirect
major take-out chains (Pizza Hut, Papa John's)
local pizzerias
Segmentation/Potential
Target Markets
Marketing Strategy
Product
refrigerated pizza kit:
whole-grain crust, sauce and cheese
feeds 2-3 people

additional topping packs:
extra cheeses
sliced mushrooms
hormone-free chicken and sausage
Price
grocery stores

refrigerated foods

prepackaged foods

pizza

pizza kits
Segmentation Funnel
PESTE
Social
healthier eating habits
carb-reducing
whole-grain substitution
demand for time conscious, semi-prepped meals
Political
packaging restrictions
Economic
upward trends in dual income households
Technological
packaging advances allowing for long-lasting freshness
Environmental
semi-prepped food contains excessive packaging

'throw-away society'

overlap between health-conscious and environmentally aware individuals
individual favourable price-market is highest between $6.01-$8.00

remain competitive with other frozen, fresh food companies

do not want to devalue quality by pricing too low
Promotion
sample stands in grocery stores

similar marketing structure to Cucina Fresca

offering consumers online coupons for completing surveys
Place
supermarkets/grocery stores

specialty bakeries

focus on Midwestern United States
fresh, pre-packaged food industry

core product: healthy, convenient meal

actual product: whole-grain pizza kits

augmented: fresh ingredients and customization options
Financial Analysis
wholesale volumes must exceed $12 million to meet return requirements

0.206% market share to meet requirements $12M/$5.8B

price floor ($6.01):
$12,000,000/$6.01 - 1,996,673 units

price ceiling ($8.00):
$12,000,000/$8.00 - 1,500,000 units
Alternatives
1. Launch pizza kit immediately with a strong marketing strategy

2. Do not launch pizza kit at all

3. Launch product with little marketing and view consumer response before further actions
Recommendation
Launch pizza kit immediately with strong marketing strategy
Crafty Cooking

Health Nuts

Family Fun

Convenience Seekers
Target Market
Family Fun!
Action Plan
price set at $7.49
in-store samples and coupons
attractive packaging
online survey (with incentives)
labels on pasta products
interactive marketing
Action Plan (cont.)
Market Research:
new advertising
new competition
discontinue or replace
Full transcript