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Strategic guidelines for Market leadershi.Mission Statemen.I'll start by asking what are McCain's distinctive areas of expertise.With over 5 years of food production experience McCain's clearly benefits from not only expertise but also the prestige of a market established branding.
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The company as a whole is geographically expanding on the back of strong turnover that topped $5billion, with the UK operation being at the forefront of the frozen food market in terms of consumer awareness thanks to its high profile advertising campaigns.These campaigns have helped foster a market share within the potato speciality market, that has more than increased by 10% in a year.Products like the the'Home Roasts' and, the innovative,'Smiles' have created a good breadth of product line in the potato specialiy market; that is enjoyed by young and old alike.By addressing McCain's areas of experise it becomes clear that the drive for market leadreship in the potato specialities market is significantly enhanced by its market experience and strong branding presence.Yet there is a danger when entering into a strategic plan of this nature of falling into one of two traps.Firstly of falling into what Theodore Levitt termed the'marketing myopia', of too narrowly defining the business; the resulting product and marketing mix will be generally too narrow and too confining for growth.On the otherhand defining business too broadley can result in spreading capital, people and other resources beyond the capabilities of the organization.This danger can be averted by establishing a confident holding of both the companies product driven orientation and its market driven orientation.In order to do this we have to first asses changes, both present and future, in a number of important areas..MARKE.The first of which is the genral state of the potato speciality market. The market has enjoyed 5 years of consecutive volume and value growt hand although last years growth of .5% was the smallest for 4 years (indicating that the market has potentially hit its maturity point) the market volume and value is bouyant.COMPETITIO.With respect to competition the market slow down in growth in the 1-000 period has intensified the competition between key brands looking to consolidate their martket positions.This increased competition for market share could be a signal to look at a number of stratergies like adapting the marketing mix of the potato speciality segment.O.Increasing the broadness of the product range by introducing innovative and new brands.This is not to take away from the important fact that McCain has however flourished as the market has entered its mature stage; and indication that the brand and marketing mix are geared up for this intensified battle for market share.CULTURA.The last decade has seen a maked shift in the socio-cultural emhasis of the consumer.Price and income will continue eo be the main determinents of demand and will reflect the general state of the economy.In practice the trend of real disposible income has been upwards-indicating a better level of living for most. And thus equating to more conveniance appliances like microwaves, bigger freezers which can only enhance the growth of the market.Important changes have occurred in household and family attitudes and patterns of behaviour, that will be important in McCain's efforts to gain market leadership.For example, the average household size is decreasing, with the archetypal .4 children family now only accounting for 5% of the households in the UK (compared with 40% in 180).As a result one person households are increasing steadily, and with it so to is the demand for conveniance food types.This drive for conveniance food is percipitated by what Hughes calls the "single most important demographic feature influencing developments in the food industry", with 80% of all women in the 5-44age group now working outside the home.Because these women are the main determinate as to what food is purchased in most households, they have so much pressure on their avliable time to prepare meals, that they are willing to buy time through the purchase of conveniance food.Healthy nutritional awareness is also one of the most prominent factors now shaping market segmentation. Although these buying impulses are based around the rather bass motives of looking good and slim rather than actually living any longer.Over half of consumers regard themselves as health conscious and this is, therefore, increasingly being reflected in the purchasing of food that they perceive to be nutritionally safe and benefitial. A shift that could be taken advantage of with the increase of lower fat products like the 5% fat free croquets.The general socio cultural shift has seen consumers better educated than ever before and it is often argued that this allows them to make more informed and discerning choices.As a result, there is growing evidence that consumers are looking for new sorts of brand values.The adoption of some of the attitudes of Cause Related Marketing into the marketing mix could certainly harness these changes.For example, this could be seen with a new range of potato-based conveniance meals that project the message that the brand is working for the rushed working mum in trying to and save her time.O.The development of a number of depth products in the form of healtier alternatives to most of the different brands in the potato speciality market. These products would portray the image of McCain as looking after the customer, in seeing him or her through the nutritional pit fulls of a diet.OBJECTIVES AND GOAL.Obviously the primary objective for McCcain is market leadership. Yet, there are a number of goals that will have to be achieved in order to reach this mantle.In terms of quantative objectives, McCain's 5% growth between Aug and Aug00 continued over the next three to five years would comfortably be enough to secure market leadership.This market increase though would have to be at the cost of Birdseye's market share. Because although there has been an increase in market share it has yet to be to the detriment of Birdseye's share of the market. A factor that could point to the need to adopt a frontal marketing campaign against Birdseye's products.In terms of revenue McCain would have to look at increasing the value of its market share from £0.4million in this sector to around £4.14million @ 6% volume share.A number of nonquantative objectives aslo need to be set as a foundation in order to help achieve market leadership.Upgrading distribution channels. Including sales and management training, inventory control systems, expanding into new retailing channels and even contracting independent distributors and resellers to expand distribution and market coverage.Consolidating Segment position. In order to gain market leadership McCcain will not only have to increase its market share but also consolidate the leadership and strong growth positions in its strongest market segments.In, for example, the roast potato and wedges segments objectives should include securing long term sales contracts with key accounts as well as penetrating strategically important geographic territories by adding more sales and service presonel.Importantly the marketing mix can could aslo be adapted to incorporate promotional discounts and offers so at to increase the appeal of the brand to to potential first time buyers and other brand loyal customers.Such objectives would help consolidate market position and bar entry of aggressive competitors.Improving marketing mix. This can be done in conjunction with the managers of finance, sales, manufacturing, R+D and distribution. So they can address whether there is an optimal breadth or depth to the product line up. For eg, in the case of depth whether or not to add new flavours of wedges because of the brands success. Or whether to drop the fritters line cos of their drop in popularity.Building'speciality product' penetratio.This objective can be viewed from both offensive and defensive market positions.The defesive objective would mean guaranteeing that a number of products were produced to imitate or duplicate a rival product of Bidseye's in order shackle its uniqueness.The offensive objective means developing a speciality product dedicated to penetrating a new market segemnt, not held or lightly defended by the other competitors. The new product ideas (both the 5% fat free corquets and the microwave potato nuggets) both appear to address this objective.PLANNING GUIDELINE.There are a number of stratergies that have to addressed when developing growth stratergies lik.1) long term brand or product positionin.) Product, price, promotion and spending mi.)product qualit.Yet all will have to be in line with the overall growth stratergy.Koetler's flank attack theory would be an ideal platform on which to propel McCain into market leadership. This stratergy will not only save money, unlike a head on battle with the main competitors, but is also more in tune with the current market conditions..This is because a the flanking technique identifies new shifts in market segments that as a result leads to a fuller coverage of the markets needs rather than just focusing on increasingly competitive niches. And it is this The increasing variation and diversification that will define the potato speciality market..This flanking growth strategy can be directed along two strategic line.1)The first is a Geographical attack- By looking for and identifying where Birdseye are underperforming and becoming'false market leaders', these areas can be pinpointed for product development.)The segmental tactic is used to highlight the uncovered market needs not being served by the other market leaders. By out innovating the market McCain start off with automatic market leadership. McCain would also gain the certain cache that comes with being the markets leading innovators, for eg Audi.BUSINESS PORTFOLI.McCain are ideally suited to the rigours of a market flanking offensive which I believe would bring with it market leadership..From this table we can see that there is a very strong marketing mix to at the heart of this stratergy for market leadership.Along with relative product quality and bouyant marketing expenditure, Buzzell and Wiernsena found that new product activity was the central reason why companies experienced market share improvements..It is from the development of new products like the 5% fat croquet that the flank attack can be made against competitors like Birdseye, as we explore the increasingly diversifed nature of the potao speciality market..And with the release of the 5% fat free croquet we have the ideal product to spearhead McCain's drive at market leadership..This two prong attack of taking measures to not only consolidate areas of market success whilst taking into account the changes in market segments through the development of innovative new products will be key to McCain's attempts to secure market leadership.I will now move on to the tactical marketing stage of the plan and why I think the 5%fat free croquettes would make the next ideal product to be launched.SITUATION ANALYSI.By looking at the 1) marketing mix ")competitor analysis and )market background this section will attempt to highlight a number of trends in all of these sections which make for ideal conditions in which to release the fat free croquet..Marketing Mix. The results from the quntative tests showed the 5% fat croquettes as performing moderately well. The fact that the definitely buy section saw a 10% drop post trial emphasises the tone that will have to be achieved in the marketing mix if it is to make the most of its potential. Notably that the prodcuthas to be sold on its benefits to the body not just its taste. Although the potato speciality market is still relatively new the market does appear to have reached the early stages of maturity with increased competition just to consolidate market positions. AS YOU CAN SEE FROM THE DIAGRAM the lack of any other major fat free/healthy eating example in the potato speciality market the croquette would allow an Entirely new segment to develop off of the back of the bouyancy in the potato speciality market..The croquette market currently at % the total potato specialtiy marke, is neither too small to risk not gaining a healthy return and is not saturated with products like the roast potato segment; where one runs the risk of introducing yet another product that could simply be drowned out by the sheer number of alternative products.The main features and benefits for the markt its "healthy" value and as such it will be a unique product in not only the croquette sector but also the potao speciality market as a whole.The fat free croquette would essentially use the success of lower fat oven chips as a spring board to gain consumer recognition. For eg running banners on the oven chip packets like "You've benefited from our lower fat oven chips, why not try our new 5% fat free croquettes.Ultimately this product should be released so as to take advantage of the growing consumer desire to eat more healthly.COMPETITOR ANALYSI.As such one of the main benefits to releasing this product is the fact that no other major competitor is offering a fat free product SEE TABL.And from this table it is important to note that there is no fat free product.Market Backgroun.The 5% fat free croquette would be primarily aimed at the adult market. Although the adult market is 17k T behind the family market, it is not so competitive and is likley to carry on growing due the afore mentioned changes in society.The adult market is enjoying just as strong volume growth and stronger value growth than the family market. A factor that would allow for skim pricing.MARKETING OPPORTUNITIES.I will start this section with Philip Kotler's definition of a market "consisting of all the potential customers sharing a particular need or want who might be willing to and able to engage in exchange to satisfy that need or want".It is the need or want by the consumer for a healthy living and, consequently, eating that will be the driving force behind this the fat free croquettes release. This is a trend that is self perpetuating as the more consumers believe they are eating healthly the less likey thhey will want to be seen as going back to less healthy options.As long as looking slim and good remain the main pre-occupation of most consumers the market cycle will be very long in a high yield value rich adult segment.The introduction of the 5%fat croquette also importantly compliments the the potato speciality portfolio; opening up a new and viable market niche in what has become an increasingly hard fought market.To summise it is always important to ask the question of whether the new offering has a relative advantage over existing competitive offerings, or whether a distinct buyer group exists for which no offering is satisfactory? With no other low fat product to rival it in the potato speciality market and an increasingly health conscious consumer market, the answer to both of these questions is undoubtebly yes. This is why I believe the 5% fat croquette is the most suitable product for release...
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