Well-known product. The ------offers a brand name known internationally. Besides the company has been well known for their quality, freshness, and taste of its products.
Pricing. Our product is priced lower than our competitors in our industry. Even though our competitors have a different kind of product compared to us.
Nutrition. Peanut butter is well known because it contains many vitamins, proteins, and fiber. Nowadays, it is very important for everyone to start a day with a meal that it is rich in vitamins, nutrients, and provide energy throughout the day. Besides obesity and malnutrition is a worldwide problem.
Lack of brand awareness. Our company has a strong ...view middle of the document...
Besides peanuts have been used as oil and as an ingredient to increase the taste of their meals, instead of peanut butter.
Life cycle. The life expectancy of peanut butter is 18 months with normal environmental conditions, but due to many regulations imposed in imported products, the life of our product in a shelve will be reduced to 6 months. For instance this would seem that our product is being targeted because it is imported, but it also has helped improved the quality of our product because it ensures the freshness, taste, and quality of our product.
Price. Due to increased demand, many Chinese businessman have been coming to the U.S. to buy peanuts from our suppliers, we are confident that this trend will continue to increase. This will help our company to introduce our product line with a fair price in their market.
We have set objectives that will help us achieve our goals in the new market, as well to address arising problems.
First year objectives. During ----- first year in the market, we are aiming to gain market share up to 15%. Also, we are confident that our units sold at the end of the year would be 500,000. Even though we hope to sell so many units, we know that some of our product will be thrown away due to regulations, we hope to minimize the effect of this by improving our customers’ sales. At the end of the year our main goal is to make a loss less than 12 %, but also we will establish our brand in the market.
Second year objectives. Our second year objectives are to improve our quality control, and to establish a partnership with regional farmers, thus decreasing costs and improving profits. By establishing our brand in the market, we can introduce different variations of the product to help please the different taste of each individual. We hope that we can break even this year, but also increase our market share by 5 points.
Third year objectives. Our objectives are to break even. Also we will have a product line that is well known by population. A product line that meets and exceeds on quality, freshness, and taste compared to other local industries.
Fourth and fifth year objectives. Now that our products are well known by the population, our market share would be approximately of 30% and above. We can assume that we are seen among the population as one of the leading peanut butter companies that cares to provide our customers with products that will satisfy their wants and needs with the highest standards of quality. We also can be seen as a successful company of 15% profit.
We have not established a brand name for our product. This is going to be addressed by our marketing strategy who is going to focus in educating people about the benefits, and easy access to our product. Even though some people are allergic to peanuts we may have some alternatives to meet their needs. We will also measure our product positioning from time to time to make sure we are achieving our goals in a timely manner. Because...