Pizza Pan Business Plan Essay Example for Free

Pizza Pan Business Plan Essay P ? ? ? ? izza Pan is an Australian Company, has developed two new styles of frozen pizza that is lite-cheese, single size whole meal pizza and a jumbo, topping-plus pizza. Pizza Pan is considering undertaking a promotional campaign to market these new varieties in Malaysia. As a marketing manager, we are required to: To outline possible marketing goal for Pizza Pan in promoting these new products. To identify and analyses target markets for these two products. To develop a marketing mix for ONE of these product. To develop an appropriate competitive marketing strategies for Pizza Pan ? In order to outline possible marketing goal for Pizza Pan in promoting these new products. So fast food is one of the worlds largest growing food types. As such Pizza Pan is also one of the well known companies in frozen pizza. This has currently developed two new styles of frozen Pizza. One of the pizzas is a light-cheese, single-size and whole meal pizza whereas another pizza favor is a jumbo, topping-plus pizza. As all of us knew, Malaysia which is a multicultural country which populate by more than 2. 8 million people and they loves experiencing new products and specially food and this country surrounded by hyper-competitors, yet Pizza Pan is considering undertaking a promotional campaign to market these new varieties in Malaysia. Obviously in order to promote these products effectively and efficiently the company needs planning ahead the marketing goals and strategies. Since Malaysia population was 28,728,607 during July 2012. Meanwhile there are 28,728,607 people on Malaysia, out of 29. 6% of Malaysian was 0-14 years old; 65.4% who are in 15-64 years old and there are also over 5% of Malaysian are 65 years old and above. Refer to the index shown; we had decided the goal of Pizza Pan is within one year 80% of Malaysian will get know Pizza Pan. We set the goal at 80%, there are 29. 6% of people are 0 to 14 years old in Malaysia let ignore the baby so we minus out 15 % on the group of age in 0 to 14 year olds so it will be 14. 6% of people who are in 9 to 14 years old. When added up with the group who are in 15 to 64 years old, 65. 4% + 14. 6% there are 80%. Now 80% of Malaysian there are all who can have Pizza or who love Pizza. It’s because baby who just born will not able to enjoy Pizza Pan and People Who over 65 years old will not like fast food or less although when they are young they like to have it. So we decided to minus out this two group therefore Pizza Pan has specific segments to achieve. Then, another goal would be associative in promoting these new Pan Pizza. One of it is to become the market share leader of frozen pizza products amongst its other competitors. Due to that creating customers awareness is also another important goal in promoting these new products. Whereby the company is aiming of rising up to 80% awareness towards these products and beat the rest of the competitors. In simple word, Pizza Pan Company also aims in retaining new customers into long term customers. With this, sales of the new product can be increased due to excellent brand image, attractive advertisement, showing the temptation to eat the product which has been positioned in consumers mind and their willingness to spend the money or experience new products on how creativity of the product can meet their satisfaction comparing to the standards favor of frozen pizza. In brief, we expect customers be aware of these new products in the market. For instance, during the first promotional period of these products, we are targeting the sales of RM2 billion for the frozen pizzas with low price strategy to gain the market share during the growth of life-cycle. In addition achieving true and loyalty customers towards the products is also our objective. In order to be first among equals in a category, the company needs to be more innovative by designing more alternatives selection for consumers. Besides, the company needs to promote the category brand first after only individual brand. Due to promoting frozen pizza it has an advantage like promotional saying â€Å"let frozen pizza refresh you today†, â€Å"Eat fresh anytime frozen pizza†, â€Å"Instant pizza, frozen pizza† â€Å"Ready to eat any time† etc†¦. ? In order to identify and analyses target markets for these two pizza products target markets for Pizza Pan Company are demographic, geographical, psychographic and behavioral. The company is intending to promote the two new products into the selected target markets. This would be metropolitan cities such as Kuala Lumpur, Johor Bahru, Selangor, Penang etc†¦ From the demographic market point of views, Pizza Pan Company is targeting for the highest expiation of consumers which are between 18 to 48 years of age and the expiation is starting to drop at the starting ages of 49 for the people. Besides, the company is not fixing the gender of consumers of selecting the products. Demographic speaking, the company is targeting for the single and married people who are like main customer for the company. It can be easy for the people who are individuals or even working marriage couples who are likelihood to consume frozen pizza and having busy life style and have to prepare meals for themselves. So it’s time consuming and full satisfaction for busy people. Moreover it will also ease the burdens of parent as even children can prepare their own meals in a very safe way. Not only income and occupation of consumers are included in the demographic market. For example, a person who is holding the high-position in the rapid changing world, can means he/she is high income earner who has to responsible with amount of workloads through working against its time. Hence, they are encountering frozen pizza is fast food and best convenient option for them to work through their days. Besides, the company is targeting for the Englisheducated students who are more likely to follow the western style by consuming frozen pizza as their priority frequent meal whereas Chinese -educated students are preferred in consuming flour products as their elementary needs such as rice. Since Malaysia is multicultural country and comprising of variety race with different religion. Therefore, Pizza Pan Company is taking into consideration of religion respects as their target market. As a result, two new frozen pizzas are promoting but restricting with no pork contents, namely Halal in order to be available for Malaysian consumers. Also, the young generation has becoming the target market to focus on nowadays. Owing to the lack of responsibilities that teenagers have and the lack of home cooked meals whiles home alone, along with current trends of impatience youngsters that everything must be simple and fast, thus frozen pizza is a quick alternative for meal. The geographical target market for the company is Malaysia. The company is targeting for the metropolitan such as Kuala Lumpur which is the capital of Malaysia and Penang as the second high population area. Johor Bahru with high population and the people who works in Singapore, so basically they don’t have time to cook or even eat outside food. However, the company would only develop the two new products to other urban area and rural area when the company’s see some progress or growth in economic situation. Besides that, it is also due to the reason that rural area people spending power is dependable on their own economic growth. This is generated in a traditional way for many decades instead of spending on a new product. Moreover, the new products are available in shopping malls, grocery shops and even schools. Another target markets owing to psychographic is individuals who value their health and diet. They are those who have a fast-paced life and dont seem to have much time on their hands. They are those who find it difficult to fit in something health for lunch as anything that is fast is fast-food. For example, frozen pizza is quick, easy and delicious at the same time can have for lunch. The home oriented is the people who are willingly to stay in the house rather than hanging out for their lunch or dinner. Besides, target market to focus on for Pizza Pan is all social class can enjoy the frozen pizza as it is economical for everyone. With the outgoing and energetic personality individuals are on the list of target market because they might curious to come across of how delicious a new frozen pizza can be. The target markets for behavioral segmentations are benefits, usage status and attitude towards product. Attitude towards product is the emotional response in which positive attitude would affect the usage and loyalty status to a company. If the new frozen pizzas are meeting the customers satisfaction, hence new consumers would insist of consuming the pizza by shifting to the regular consumers. In order to benefits the on diet or health conscious consumers, Pizza Pan is designing the light-cheese, single -size and whole meal pizza with adequate nutritious guaranteed on the package. Moreover, the advantages of new frozen pizzas are only to be cooked in just 5 minutes. It would beneficial busy workers who are working around the clocks to be fast and convenient for their time efficiency yet economical for their livings in the rat race world. ? In order to develop a marketing mix for ONE of the products. The marketing mix is primarily made up of four variables and they are 4p’s which is Product, Place, Price, and Promotion. The marketing mix is often described as a method used in developing a viable marketing strategy, with each ingredient being used different ways and at different times based on the product or service one is trying to market . The type of place channels used by Pizza Pan is the direct channel. The direct channel is successful when there is a very large market that is geographically dispersed. The direct channel is also useful when there are a large number of buyers, but a small amount purchased by each. Pizza Pan uses two different methods of selling its products directly to the market. The first method of place used by Pizza Pan is free delivery as suppliers . The Company would supply their products to wholesalers, retail chains, supermarkets and online but with certain amount of purchase or even small neighborhood grocers for their mass selling. The advantages of using the method are a lower search cost or easy to find for our consumer. Consumers will not have to search the lengths of the earth to find our product. Basically they could find it anywhere. Another method of distribution is for consumers to dine-in especially those who are travelers can go to the highway recreational stands or even conveniences stores like 24 hours Seven-Eleven shop to purchase the fresh from oven frozen pizza. It can mean convenient as quick and take-away products for the travelers eager of reaching the destination. Product Pizza Pan should offer a new product called The Deluxe Plus pizza. The Deluxe Plus is a light-cheese, single-size, whole meal pizza which is the alternative choice for the health-conscious who is on diet with light cheese content pizza along with the current trend that slim is beautiful for female who is likely to consume whole meal foods rather than origin flour foods. This new pizza will have many different competitive advantages. The first competitive advantage of The Deluxe Plus is dietetic food concerned for consumers. The second competitive advantage is the whole meal pizza which is in reasonable price and single-size than any other pizza on the market which is a jumbo pizza. In simple words, it would be a waste for an individual finish the pizza on time. Thus, The Deluxe Plus helps for cost-saving. Another competitive advantage is the Pizza Pan brand name. Pizza Pan has built an international brand name which means quality products. Since Pizza Pan will be introducing The Deluxe Plus customers will automatically think this is a high quality product. The final competitive advantage is that this product will be the special designed pizza to target Malaysian youth. The Deluxe Plus will target young generation or people between the ages of 18 and 48. This market purchases a lot of pizza each year, but very few pizza restaurants actually target them. It will be introduced on Rtm1, 2, 3, 8TV channel. During the introduction stage of the product life cycle, Pizza Pan will try to establish a market for the product and persuade early adopters to buy. The Deluxe Plus is expected to begin and declining the purchase intent after one year on the market. Pricing strategy plays an importance role too because it affects both revenue and buyer behavior. The retail pricing strategy allows Pizza Pan to charge a price that is lower than the competition, in order to promote the frequent sales since the market of the demand of suppliers and consumers are elastic. Customers are price sensitive and the quantity demanded will increase significantly as price decline. Therefore, several sales promotions and coupons will be used to lower the price below those competitors. For example, Pizza Pan is offering free pizza on purchase on two pizzas on special occasions like Chinese New Year, Deepavli or Raya holidays etc†¦ The high or low pricing strategy has several advantages. Firstly, pricing strategy will help to segment the market. Different groups of customers are willing to pay different prices for the same product. Pizza Pan is enabling to sell The Deluxe Plus to the consumers who are first-come-firstserve with economical price. Customers will be able to try something new when they purchase The Deluxe Plus and this exciting experience may bring those customers back to purchase other products. The main theme that will be used to promote The Deluxe Plus is youth. Since Life brand of tomato, chili or BBQ sauce is becoming the non-substitute items for Pizza, therefore it will be included in promotions like KFC. The main promotion will be a coupon to purchase The Deluxe Plus and receive a bottle of sauces which includes many favors. The objectives of this promotion are to introduce a new product, stimulate demand, change the short-term behavior of the customers; This promotion will be distributed mainly by mail, but also by fliers on college campuses or supermarket malls in order to reach the target market. The Deluxe Plus will be published in the newspapers or magazines that are popular with the target market such as STAR, New Straits Times, Woman weekly, Apartments post box and Seventeen. Although advertisements are not cheap, Pizza Pan is an Australian company who is preparing the financial resources to advertise. The young people will then eat The Deluxe Plus with their favor sauces. There will also the teaser banners will be bought to be displayed on bus stops, lampposts or even the Billboard announcements will be placed wherever on the highways for the travelers to notice it. Thu, the advertisements campaign can create awareness of the new product in the target markets. ? In order to develop appropriate competitive marketing strategies for Pizza Pan, Pizza Pan has tough competitors such as Pizza Hutt, Dominos, Barista, Papa Johns, Subway and many others. Hence, there are several competitive marketing strategies that are developed in order to compete with them. Our main intention is to be overall cost leadership, for offer lowest price to the consumer. We are also planning to practice differentiation by offering products with unique customers benefit or features which is not available from the competitive offerings. For instance the The Deluxe Plus which is a health concern product. We want to create a unique selling proposition that gives a real competitive edge Pizza Pans business growth strategy starts with a strong competitive positioning strategy in the marketplace there will discounts offered as a part of a grand opening campaign. Moreover we should watch on over competitor’s strategies too whatever they apply for their product we could plan for it too. Such as Pizza Hutt is offering buy one get one free so pizza pan could work on that too. Then, product leadership is also another strategy as we aim in leading in frozen pizza In Malaysia. Hence, before leading in we have to enter the new global markets; we also intend to create a local partnership with Malaysian businessman. For example, Pan Pizza that originated from Australian company would identify local partners in Malaysia like share holders in food industries so that it will be easier for them to markets the new variety products in Malaysia. This is because local partners know on how to attract their country people and to bring these products to customers as they can receive a good response. Another marketing strategy would be balancing customers and competitor orientations. In specific, we focus on being market centered company. This actually focuses more on customers development in designing strategy. Whereby strategies that can increase products availability and promotion in existing markets. To enter new global markets, the we would make a sponsorship within targeted countries. For example Pizza Hut is an American restaurant chain International franchise having their store locations in Malaysia and they achieve their goals and objective of their company like sponsoring shirt for English football club or become a part time sponsor of Galaxy M. Thus, we would also sponsor for Malaysian tennis or squash team during tournament. Finally, a small-scale trial can be a good way of testing a marketing strategy without committing to excessive cost. Whereby, a SWOT analysis would be carried out that includes strength, weakness, opportunities, threats. As for strengths, Pizza Pan is known for personal and flexible customers and service, depth industry experience, creative yet practical product designer, the use of highly flexible and efficient utilizing direct customer’s sales and distribution, varied menu items for broad appeal, high/consistent quality, and strong advertising marketing promotion. Then, weaknesses of lack of an established reputation of frozen Pizza in Malaysia, In conclude, promotion methods used by Pizza Pan tend to create product awareness amongst its new consumer in frozen pizza market. As mentioned earlier segment of the market that we have targeted is a very diverse group whereby promotion of the product has to be done in a very diversify style and unique. It is also believed that The Deluxe Plus will bring Pizza Pan a great success by using effective marketing mix strategy which may even consume high cost in its promotional campaigns but, however we strongly believe that, our potential product will cover the cost and gain maximum profit. http://en. wikipedia. org/wiki/Demographics_of_Malaysia http://www. pizzapanonline. com/ http://en. wikipedia. org/wiki/Pizza_Pan http://www. marketingteacher. com/lesson_marketing_mix. htm http://www. markedbyteachers. com/catalogsearch/result/index/? http://in_defense_of_frozen_foods_9907348. html http://www. quickmba. com/marketing/mix/ Uk marketing uni. Kotler keller,(2006),marketing management.