Case Study The Samosa Company Marketing Essay

Case Study The Samosa Company Marketing Essay The Samosa company was conceived by the three founders Jake, Neeytantee and Naynesh Karia. Our vision was to recreate authentic true to origin hand made delicacies. We had realised that the market had become complacent and that quality and authenticity had compromised. It had been the diligent pursuit of these qualities that has made The Samosa Company so famous and successful today. The constant research by the new product development team ensures that we stay one step ahead and being a family run business we are able to adapt and react to market demands and act upon our customers requirements swiftly. Servicing comes to the finest establishment we have a selection that is both authentic and contemporary. Our kitchen adhere to the most rigorous of standards and our staff is trained to the highest level. Through the vigilance of the quality assured team the standard never falters and the quality is always consistent. The kitchens are located in the heart of the midlands and it is entirely manned by people sharing a passion for creating food that is beyond expectation. Our products are available throughout the United Kingdom and soon Europe. All are frozen and do not need to be defrosted before cooking. The Samosa Company set out to emulate a modern day imperial banquet. Setting out to explore much of the far eastern cuisine and reproduce it for your delectation. Producing some of the most common delicacies found at the oriental buffet table we have flavours that are very distant but instructive, paramount to this style of cooking. With opulent flavours. With opulent flavours originating from the Thai style to the unobtusive but highly delicious Chinese style we have tried to create a range that would any respectable restaurant or buffet table proud. Multi Food Industries is a leading manufacturer and exporter of Frozen Ethnic Asian Foods (Ready to Cook, Heat Eat, Bake Eat Frozen Foods). These consist of Asian Flat bread, Frozen Naan, samosa, spring roll, puff patties, pastry and a wide variety of similar but great tasting products. We are an ISO 9001:2000 and HACCP certified company. We export to USA, Canada, and all over Europe. We produce under private label as well as in our own brand named Prime-Harvest Mazedar. All our products are in attractive multilingual packing (French, English, Arabic). We would be glad if you can go over our website www.multifoodindustries.com for further information. Product pricing is one of those aspects of the marketing plan that is neglected- in some plans it is completely absent! The reason for this stems from thefact that all other aspects of marketing can be easily identified and quantifiedwhereas pricing is more of an art than a science. The product pricing issues that face any company are verycomplex in nature due to the numerous variables that have to be consideredbefore understanding pricing parameters. A company may have two objectives in its pricing policy. One may be to increasemarket share the other to increase profitability. It is NOT possible toachieve both objectives simultaneously. We will now consider the factors that should be taken intoaccount when trying to resolve the question of whether the business should tryto gain market share or increase profitability. Objectives and the product portfolio Every business should have a series of objectives relating to sales, profits,market share and return on capital. The business objectives might be such thatit calls for short term profits. However, the business owner should be consciousthat any decision made only for short term profitability will impact the longterm survival of the business. This is especially true if pricing decisions aremade in an ad-hoc manner it is probable that the goodwill that the company hasgenerated with its customers will be destroyed due to unreasonably high prices. The setting of marketing objectives for any particular product is thereforewithout doubt the starting point in any consideration of pricing. Product life cycle According to the product life cycle a product passes through 4stages, they are: Introduction: Product has been just introduced to the market so the price will typically be at the higher end; Growth: this is the stage in which a products sales increases rapidly price is set high at the growth phase to skim the market; Maturity saturation: Here the product reached optimal sales and plateaus out price is gradually reduced to maintain market share and meet the threat of competition; Decline: The product ceases to be popular due to a variety of reasons and decline sets in price cutting is in full swing to make sure that all inventory is exhausted before market demand runs out, a type of harvesting the market. The importance of the product life cycle in pricing cannot beunderstated. Obviously the pricing strategies at the different stages shoulddiffer to ensure that profits are maximized. Product Positioning The term product positioning has already been explained. It is avery important concept in setting the price of the product. It is clearly veryfoolish to position a product as a high quality exclusive item, and then priceit too low. Price is one of the clearest signals that the customer has aboutthe value of the product being offered. So there should always be a sensiblerelationship between the product and the price. Competition and potential competition Although the product has been well positioned there will alwaysbe competitors and it goes without saying that the threat of the competitionshould be carefully considered. In a situation of high competition it isimportant to note that competing purely on price is counter productive. Thebusiness should consider all elements of the marketing mix and how they interactto create demand and value for the product should be considered in setting theoverall competing strategy. Some firms launch new products at high prices only to find thatthey have made the market attractive to competitors who will launch similarproducts at much lower prices. A lower launch price might make diffusion in themarket quicker and allow for greater experience and the margin for a competitorto enter the market will be reduced.