Question 1
Key competitors
Mindful Chef: health-focused food box company set up by school friends Giles, Myles and Rob. Since launch in 2015, it has shipped over 10,000,000 ingredients from incredible small farms across the UK. Location; UK Revenue at 50million GBP (2020)
Marketing Campaign: #Healthyeating
Target Market: Full nest generation Z
Brand review: 4.7(Trustpilot,2020)
. Simply cook: a London-based subscription-based recipe box service. The organisation sends out a monthly box with four recipes and four non-perishable ingredient packs, which are then combined with fresh ingredients purchased at the store by the subscriber. UK Revenue at 15million GDP (2020)
Marketing Campaign: Senegambian partnership
Target Market: working and middle class professionals
Brand review: 4.6 (Trustpilot 2020)
PLATE UP: Order the ingredients for weekly meal plans, with recipes from top culinary experts, delivered via local supermarket.
Marketing Campaign: XMAS Giveaway
Target Market: Generation X
Brand review:
FEASTBOX: Every Feast Box includes handmade spice blends, pre-measured ingredients, and simple, no-hassle recipe cards, making authentic Asian and Middle Eastern cuisine accessible to busier or less confident cooks. Our expert chefs create each meal with care, using tried-and-true techniques and truly unique ingredients sourced from all over Asia and the world.
Marketing Campaign: Random act of kindness #MakeKindnessTheNorm
Target Market: Single and married generation Z, Indians living in the UK
Brand review: 4.1(Trustpilot, 2020)
Porter’s 5 forces
Competition in the industry
Products of various companies are highly undifferentiated, which increases rivalry. , many companies are shifting their strategy towards niches or by offering additional services to consumers.
Low fixed costs and dynamic market revenue growth in recent years alleviate rivalry to an extent, limiting the onset of price wars, and if the market keeps expanding competition could still be assessed as a moderate threat (Marketline, 2016).
Potential of new entry into the industry
The allure of cost savings, access to a greater variety of products and services, coupled with the increased convenience of online retailers has driven more and more competitor to purchase goods online. This situation significantly increases the likelihood of new entrants/competitors.
The ease of search engines and price comparison websites mean that the sector is highly competitive. Consumers, now more than ever before, have access to large sources of information that keeps them updated about the characteristics of a product and how it compares with the competition.
This situation could be deterrent for prospective new entrants. However, constant change in consumer behaviour and diversified audiences creates sufficient opportunities that can be exploited by new entrants.
Power of Suppliers (Moderate)
IT infrastructure providers have a strong power and much depend on them. There are numerous players in the industry which has driven the operating costs of every ecommerce related activity down and has made it less costly than a traditional store. Virtually most companies in the meal-kit delivery service rely on their online platforms for their operations.
There is a risk of forwarding integration from large corporations (i.e., Amazon) in the food industry, including large food chains and distribution process. However, the need for specific skills and innovative resources required for the meal-kit delivery service represent a challenge most of the big player are not willing to take due to financial capabilities
Target market
Every business got either a niche to focus on or a wide audience. our research made us understand that our target market is to be focused on the wider range. Firstly the generation Z student and working class is a popular demographic for meal delivery services, as college students and young adults live fast paced lives, with a lot of classes and assignment they have, active social lives on different platforms and new careers being pursued, there is little to no time to think about what to make for dinner, let alone buy groceries. Then we have the Generation X Full Nest. With music lessons, soccer practices and endless to-do lists, parents can sometimes feel overwhelmed when planning a meal at the end of the day. Meal delivery services are a great option for busy parents and families. And finally, we have Generation X Middle class professionals from Northampton. Working professionals, especially men, are gravitating toward meal kit delivery services. According to Time.com, studies show that men are slightly more likely to order a meal kit, with 23% saying they’ve used a service as opposed to only 15% of women. Men are more likely to other than women.
Question 2
Communication Strategy
Rebalance communication strategy, has a plan to achieve communication objectives. This will apply to internal communication, marketing communications and public relations. Rebalance communication strategy has four major components, which are: Communication goals, target audience, communication plan and channels communications.
However, a communication plan is a framework of how a communication strategy will be achieved including a schedule and responsibilities.
For example, during the Black Friday and Christmas, rebalance target to their loyal customers, as the main target market, their goals is to sell 10.000 units of their products around November and December. As their use all sort of format to reach their audience, such as Magazine advertising, Broadcasting Advertising, Digital Advertising and promotion Pricing.
Target Market
The three activities of a successful targeting strategy that allows Rebalance to accomplish are segmentation, targeting and placing, typically referred to as STP.
Target market and target audience are similar marketing terms, each having to do with the specific market segment a company targets with its products, services and brands. There are differences between these two terms, however, mostly related to the practical implications each has on different components of the marketing function.
Marketing Communication Channel (Presentation)
As marketing continues to evolve, new methods — typically referred to as “new media”. These methods are mostly said to deliver better results than other tactics — known as “traditional media” or even “old media”
Traditional media allows businesses to target a broad target audience through billboards, print advertising, television commercials, and more. In comparison, new media allows companies to target a narrow target audience through social media, paid online ads, and search results. Price-wise, traditional media tends to cost more than new media due to its broad targeting and advertising channels.
Question 3
There are many benefits associated with social media marketing. Bradley (2010) states Social media is a Mass marketing tool, way to engage with costumers build a relationship, and to Make the brand presence known.
Email would be used to showcase newsletters, deals, and new menus. This would take 30 mins per week Composing emails (time resource) the purpose of this is To retain existing customers. This will be measured by Subscribe rate, click rate, Shares and links. The target market is Generation X, as emails are on outdated form of contact for younger generations. The marketing message will be to inform the costumer about products and persuaded the costumer to purchase meals by rebalance
YouTube would be used showing how to make recipes, demonstrating the accessibility of product, adverts linking website and YouTube channel, reenforce adaptability of product, and easy use. Weekly videos would take 1 hour per week, with a budget of £100 per month. To measure how well this is doing can see Views, likes, comment and Monitoring the subscription rate. The target for this would be Millennials/ Gen z. the marketing message is to attract more people to subscribe to the monthly subscription that meals by rebalance offer. to have people click and explore the recipes and seasonal meals offered. To reinforce the message that meals by rebalance is an eco-friendly, quick, fresh, and an enticing product This will help them through the costumer decision making process, to help them recognize that there is a problem with sustainability and shopping lists are time consuming. This will help spread to a wider audience. To attract a market visually (Callow and Schiffman 2004)
The strategy for Facebook would be Daily posts, dealing customer service and questions, photos, videos and Targeted Adverts. These targeted ads showing cooked food and recipes would be seen as ‘mind satisfying’ in line with current key trends evoking a response of hunger, Create an emotional (of hunger) bond between the customer and the food (Mugge et al 2008). The budget would be 100 pounds a month and would take an hour a week of admin to directly interact with costumers (Harris 2002.) this will be measured by Likes, comments, share, and Website traffic. the target for Facebook is millennials. The marketing message is to Reinforce costumer service (Desatnick 1987), Reassuring audience of quality (Woodhouse 1999) and differentiating food from other brands available.
Tiktok would be used Make quick snappy appealing videos, showing sustainability, and advertising cooked meals. There would also be paid adverts that are retro and up to date to promote sustainability of brand and create a hype behind the company. Also giving free samples to social influencers to promote. The budget for this 30 mins per week and around £100 per month. The way this would be measured is Views, shares. Monitor clicks, likes, shares, comments. target would be Millennials/ Gen z. marketing message is to Show the availably of products, easy use of product, Branding, persuading future costumers to purchase, To reach a younger market.
References
Cowell, D.(1995) The Marketing of Services, London: Heinemann, 378
Berry, L.L. (1980) Services Marketing is Different, Business Horizons, May – June, 24 – 9
Bradley, P. (2010.) Be where the conversations are: The critical importance of social media. Business Information Review, 27(4), pp.248-252.
Edgett, S. and S. Parkinson (1993) Marketing for Services Industries: A Review, Service Industries Journal 13(3), 19 – 39.
Callow, M. and Schiffman, L. (2004). Sociocultural meanings in visually standardized print ads. European Journal of Marketing.
Chen, j. (2020). Social media demographics to inform your brands strategy in 2020.sproutsocial
Desatnick, R. (1987.) Managing to keep the customer: How to achieve and maintain superior customer service throughout the organization. Jossey-Bass.
Harris, E. (2002.) Customer service: A practical approach. Prentice-Hall, Inc
Mugge, R. et al (2008.) Product attachment: Design strategies to stimulate the emotional bonding to products. In Product experience (pp. 425-440). Elsevier.
Rong, G. and Grover, V .(2009.) Keeping up-to-date with information technology: Testing a model of technological knowledge renewal effectiveness for IT professionals. Information & Management, 46(7), pp.376-387.
Woodhouse, D. (1999.) Quality and quality assurance. Quality and internationalisation in higher education.
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