Presentation is loading. Please wait.

Presentation is loading. Please wait.

Bowl Appétit! Marketing Strategy Brian Bolten Pat Campbell Elizabeth Chang Trent Edwards Todd Federman Butch Lincoln.

Similar presentations

Presentation on theme: "Bowl Appétit! Marketing Strategy Brian Bolten Pat Campbell Elizabeth Chang Trent Edwards Todd Federman Butch Lincoln."— Presentation transcript:

1 Bowl Appétit! Marketing Strategy Brian Bolten Pat Campbell Elizabeth Chang Trent Edwards Todd Federman Butch Lincoln

2 Outline Data Collection & Analysis Strategy Development Concept Development

3 Insights from Lifestyle Trends Insight: Shelf stable lunches need to be quick to prepare Average American spends <15 minutes preparing meal Insight: Food should be as tasty and nutritious Insight: Market exists for “meal preparation kits” for busy working people who enjoy some preparation Insight: Products need to be simple to understand Learning: Convenient meal category is highly competitive but growing Movement from meal components to finished meals Data Collection & Analysis

4 Target Consumer Primary: White collar professional worker –Prepared in the workplace –Kept in stock at home for quick meals Secondary: Stay-at-home mom with little time to cook Strategy Development

5 Qualitative Discussions Survey revealed two key concerns: Overall Product Quality/Taste –Skeptical about taste of microwaved dry noodles –Serving size may be too small Convenience –Some not comfortable boiling food in microwave –Not convenient for home users –“Why not just buy frozen” Strategy Development

6 Competitive Analysis Bowl Appetit VS. competition Price:Average Taste:Poor Nutrition:Average Convenience: Poor Survey asked consumers to compare Bowl Appetit to four “quick preparation” competitors based on price, taste, nutrition and convenience Strategy Development

7 Conjoint Analysis Results Survey: Questionnaire to evaluate meat additive, wet noodles, price sensitivity Survey Results: Wet noodles are significantly preferred to dry. Price and meat packages not significant. Conjoint analysis and qualitative discussions indicate that consumers are willing to pay between $2.50 and $3.00 for a high quality shelf-stable product Strategy Development

8 Takeaways/Success Factors Convenience 1.Reduced preparation time (two minute target) 2.Simple preparation process 3.Include all items necessary for at work usage (utensil) Taste 1.Must approach taste performance of consumer’s existing options (restaurant, packed lunch) 2.Packaging and promotion must convey this Channel 1.Work with retailers to gain favorable shelf space 2.Help to create a “prepared foods” isle (optimal store positioning) Price 1.Although conjoint analysis indicates that consumers were not sensitive to the prices provided in the survey, product would ideally be priced below frozen meal alternatives Strategy Development

9 Marketing Strategy –Become product leader in shelf-stable single-serve meals category focusing on the attributes of on-the-go convenience and good taste Value Proposition –Develop the first shelf-stable products that match the taste and nutritional requirements of white collar workers, while providing the speed/convenience demanded by a growing portion of this group Strategy Development

10 Concept #1 – Flavor Bowls Bowl of wet pasta or rice or dry potatoes is packaged together with a seasoned sauce (i.e. marinara, meat sauce, cheese sauce, chicken in teriyaki sauce, gravy) –Add seasoned sauce to the bowl & heat Included utensil will add convenience The sauce and larger portion size will enhance quality and hunger satisfaction Improved graphic design of the product will signal convenience and quality Concept Development

11 Flavor Bowl Mock-up Bowl would contain noodle package and seasoned sauce

12 Concept #2 – Flavor Meals A three-section bowl includes a seasoned sauce, wet pasta/rice or dry potatoes, and dry vegetable product –Sauce is a hearty blend of spices, vegetables and seasoning –Empty pouch contents, add water to vegetable & heat Included utensil will add convenience The hearty sauce and larger portion size will enhance quality and hunger satisfaction Improve the graphic design of the product to promote convenience and quality Concept Development

13 Promotion Strategy Celebrity chef spokesperson to promote its convenience and quality taste Free samples in urban areas & offices to increase “word of mouth” advertising Money back guarantee to encourage first-time buyers to purchase the product Billboard ads on subways and buses to target the busy white-collar professional Trade promotions (e.g. end-of-aisle displays) during the product’s introduction phase Concept Development

14 Distribution Strategy Rank of importance: –[1] Supermarkets –[2] Mass merchandisers (multi-pack) –[3] Drug and convenience stores Educate the grocer of industry “best practices” –Convince grocers to introduce a “prepared food” aisle (e.g. “Convenience Aisle”) to improve convenience for the shopper Leverage supplier power Secondary, utilize GM Foodservice’s advantages to bring product to targeted customer’s environment: –Corporate cafeterias and vending machines Concept Development

15 Pricing Strategy Position the product as the premium shelf-stable product in terms of quality, convenience and portion size –Set selling price higher than Bowl Appétit! Position the product as a convenient and less expensive alternative to frozen lunches with minimal difference in quality of taste –Set the selling price slightly lower than the floor price for frozen foods. Concept Development Target Price $2.69

16 Switching Logic At Work Preparers –Consumers who prepare frozen food or soup/noodles at work (easiest target) Lunch Packers –Consumers who require speed and convenience, but have been unable to find products with desired quality/taste Restaurant Goers –Consumers who desire speed and convenience, but go out to lunch because they require better quality/taste (most challenging target) Concept Development

17 Competitive Response Most likely scenario –Frozen food competitors re-emphasize quality –Shelf-stable competitors commit to improve quality (through acquisitions or increased R&D) –Successful introduction may attract new players General Mills’ strategy –Quickly attract & earn consumer loyalty in target segment –Focus on leading taste and convenience factors –Plan new flavors and combinations on regular basis to maintain trial & meet consumer’s changing tastes Concept Development

18 3-Year Pro Forma: Model Results Concept Development

Download ppt "Bowl Appétit! Marketing Strategy Brian Bolten Pat Campbell Elizabeth Chang Trent Edwards Todd Federman Butch Lincoln."

Similar presentations

Ads by Google