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New Product For Marketing Essay

2207 words - 9 pages

Product
The name for the line of spices that has been developed for the La Cocinera Feliz Company is Latin Salson. Within this line of twelve spices will be the following spices: cumin, paprika, white pepper, black pepper, coriander, cardamom, curry, bay leaves, cayenne pepper, chili peppers, annatto seeds, and cloves. There is a description of each spice in Addendum 3. With these twelve spices Latin Salson will be able to provide consumers with a more than adequate supply for all of their cooking needs.
There will be two lines for Latin Salson. The first will be their primary line that will contain each of their twelve spices in a four-ounce plastic container. The cap of the bottle will be red in color and the label around the middle of the bottle will be a light yellow with the Latin Salson logo in the middle. The logo will consist of a sombrero with Latin Salson written above it. Below the logo will be the name of the spice that is in the container. The second line that will be offered by Latin Salson is their premium line. This line will be sold as a set of twelve. Each spice will be in a ceramic four-ounce container that will be light yellow in color with just the logo in the middle of the container and underneath the name of the spice will be printed.
Latin Salson will be consistent with other spices in the fact that the color of the packages will be similar along with the sizes of the packages of their primary line. The premium line however will differ from competitor's products. The price will be higher but consumers will not only use these spices to cook with but will be able to use the containers and the spice rack as a novelty item and to decorate their home.
Target Market

        The market for our spices consists of males and females, ages 25 "“ 45. This group represents 458,700 people, 44% of the population in Orange and Seminole Counties. The region ranks second in the nation relative to population, houseing, and total employment growth through the year 2004. The median age for this area is 35. (Demographics & Workforce). The average household consists of 2.3 persons. This is the nation's second fastest growing population (www.orlandosentinel.com). About 20% are non "“ white. They are a young, diverse, well - educated group. The average person is employed as an office worker. The average income level for this target group is $35,695 and has an average education level. Seventy "“ seven percent have obtained a high school degree, seven percent an AA degree, 16% a bachelor's degree and six percent a Graduates degree. These figures may be more than 100% due to the fact that some of the people may have more than one degree (City of Orlando).

        Because of a larger disposable income, this group has a higher effective buying income (EBI). From 1980 to 1998 the EBI has continually risen by 6 percent. The total...

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