Homeland Foods: Discussion of the Target Market

Homeland Foods
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Homeland Foods
Discuss the Target Market
Russia is a more viable target market, although Homeland Foods ranks it behind the U.S. and Canada. First, Russia has the highest number of diaspora Armenians, regarded as the primary customer base by Jabrayan. Trends indicate that the business remains highly favorable for the diaspora Armenians considering its nature. Although the founders primarily targeted North America being residents of the continent and particularly recognizing the high number of Armenians in California, other factors diminish the weight of the consideration.
Experts consider the Armenian dried food industry smaller and less structured than the North American industry. The developing market in North America is seemingly effectively served by the industry in the region. Although the market in North America is rapidly growing, it is less viable for Homeland Foods. Russia, considered the third growth market, is home to about 2.5 million Armenians (Asatryan et al., 2020). Besides the anticipated stiff market competition in North America, the transportation costs of the products to the continent are also high. However, Russia exhibits cheaper transportation because it is just a country away from Armenia, where the farms and processing plants reside. The transport of the products should also be faster given the proximity. Overall, Russia is a more viable target market. Such a choice is not merely guided by preference but rather by formidable supporting factors in favor of the potential target market.
Discuss Branding
The branding dilemma of the Homeland products heralds from the fact that the company embraces Armenians as the primary customer base even while it seeks to expand into the non-native foreign markets. The branding decision must endear the products to the Armenian diaspora and be credible for non-natives. One readily discernable branding aspect is the product name. The products offered by Homeland consist of dried plums, figs, pears, apples, apricots, walnuts, and dried Roma tomatoes and are sold under the Vozni name. It is an Armenian word translating to “hedgehog.” Although it will be relatable and even inspiring to the over 2.5 million Armenian diasporas in Russia, it will undoubtedly sound foreign to the other demographics in Russia (Asatryan et al., 2020). As a result, the proximity of Armenia to Russia will potentially allow for adequate contextualization of the brand name, unlike in North America, where the title will even be stranger. This branding aspect also reaffirms that Russia is the most viable target market for Homeland Foods.
However, the Armenian-linked product...