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Essay Available:
Pages:
11 pages/β‰ˆ3025 words
Sources:
15 Sources
Style:
Harvard
Subject:
Business & Marketing
Type:
Research Paper
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 57.02
Topic:

Packaged Food: Instant Noodle/Cup Noodle Marketing Plan

Research Paper Instructions:

Maximum Word Length:

2500 words excluding title page, contents page, references section, bibliography.

This word limit includes the content of any tables, diagrams etc. but excludes the reference list. No appendices are allowed. If you exceed the word length you will be penalised. 

Requirements: 

Packaged Food – Taking a new product to market

Instant noodle/ cup noodle. Group work Details are in another document.

Develop a marketing plan for the launch of a new product (not a service) brand in the ‘Packaged Food’ market. By "packaged food" is meant any food or drink product that can be bought and stored for consumption at a later date (for example: that which comes in jars / pouches / bottles / cans, and is chilled / frozen / dried / preserved / etc.). Your plan must be primarily focused on a new branded product (or product range), and not a service (although supplementary services might be developed around the new branded product as part of your marketing offering). The new product will be launched in the UK, so that it is where you should focus your analysis and planning.

You should put yourself in the position of being a new company; an entrepreneurial organization introducing a new product brand to the market (rather than imagining you are operating within an existing organization).

Your marketing plan should incorporate the key marketing decisions that need to be considered when deciding to go to market with a new product. This will include analysis of the marketing environment, competitors and consumers; segmentation, targeting and positioning; developing a clear and appropriate brand identity; and designing a marketing offering in the form of a comprehensive ‘marketing mix’. Further guidance on addressing these various aspects of the marketing plan is provided in the table at the end of this document.

For the purpose of this assignment you are not required to produce a specific budget or financial plan, but you should show an appreciation of the related concepts of cost, risk and value (all of which will be relevant to investors, sponsors, partners and anyone else you may need to support your initiative). 

IMPORTANT: You MUST apply theoretical concepts, models and frameworks to inform, structure and explain all aspects of the marketing plan, and you MUST justify your assumptions and decisions with reference to data, information and/or marketing intelligence that is already in existence. Your application of key theory and use of data/evidence/information to justify your proposal will be two important elements of the assessment criteria. 

IMPORTANT: You MUST NOT collect any primary research data. It is not a requirement of this assignment, and you do not have ethical approval to do so.

IMPORTANT: To pass this assignment you must

  1. Apply models, concepts and frameworks covered during the course to structure, inform and underpin your analysis, arguments and explanations; and

Justify your assumptions, claims and arguments with reference to existing marketing data, information or intelligence and clearly cite the sources of this.

 

Research Paper Sample Content Preview:

INSTANT NOODLE/CUP NOODLE MARKETING PLAN
By (Student’s Name)
Course
Professor
Institution
Date
Instant Noodle/Cup Noodle Marketing Plan
Macro-Environment Analysis
PESTLE Analysis
Political Factors
Introducing a new product compels an organization to comprehend political factors that can impede its success. For example, as Bedford (2022) writes, the conflict between Russia and Ukraine is arguably responsible for the inflation that ultimately impedes food prices. Apart from the above, the success of the company is impeded by the taxation that primarily targets plastic packaging that compels the company to adhere to the set regulations, including the 30% recyclability introduced by the UK government (Pirlot, 2021, p. 415; Rhein and Schmid, 2020, p. 105063).
Economic Factors
The purchasing power of the consumer is a key consideration in economic factors. Importantly, factors such as inflation adversely affect consumer purchasing power. The target audience is barely exposed to considerable disposable income because of their academic commitment, which can be time-consuming. Regardless, the market demand for food products, including health and organic products, rises. This implies that consumer spending increases while, at the same time, market size expands (Wunsch, 2021). As such, new entrants can thrive in the industry. Social Factors
According to Clark (2021), health and organic products are the second largest category of consumer spending. For this reason, a new organization that wants to achieve notable brand identity and subsequent sales and market share needs to factor in the health consciousness among contemporary audiences. Launching healthy instant noodles because of lifestyle changes and health consciousness will yield notable results, especially among university students (Yun et al. 2018, p. 56).
Technological Factors
Contemporary society thrives on rapid technological advancement that facilitates and improves various sectors, including food production and storage. Since the focus of the new company would include noodles that can be packaged, frozen and preservation technology would be influential in maintaining the nutritional value and functional ingredients that the company would embrace in the new product (Pongpichaiudom and Songsermpong, 2018, p. 22).
Legal Factors
Legal factors often include government regulations that can affect the successful introduction of a new product. It is important to note that the UK government has introduced a tax on plastic packaging containing less than 30% recycled content (Pirlot, 2021, p. 416). The other focus is on the increasing demand for food labeling, which implies that the company has to outline the ingredients used in the production to reach an informed decision (Kanter et al. 2018, p. 1399). However, this does not negatively affect the noodle product because it observes the theory of consumption values, including a social value that includes the production of healthy, carbon-neutral, sustainable, and plant-based food. Safety standards are an increasing priority in the food industry that the company must adhere to achieve notable success.
Environmental Factors
The other aspect of the Pestle Analysis that would influence the ...
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