Furthermore, the company is endeavoring by increasing consumers’ purchase intent and giving free tasting to consumers. Along with the intention of leveling up sales, the consumers are encountering of achieving the goal by making profits. First and foremost, Pizza Pan is focusing advertising objective throughout surveying consumers and establishing a rate of response to the question as well as “Do you plan to buy a frozen pizza this week?” After surveying, company would launch the advertising campaign of new products in order to distinguish if the activity can bring the effects to the purchasing rate of new frozen pizza. Moreover, new products would meet the market penetration after launching. In order to maintain the purchase intent, company can converting one-time product users into repeat customers by offering free tasting of frozen pizza from oven to customers.
Lastly, the marketing goal of the Pizza Pan is becoming a major supplier of portable power in the frozen industry. The Pizza Pan Company is enabling to offer free delivery with “a free frozen with pizza taste” to the wholesalers and retailers in increasing the sales.
2) To identify and analyse target markets for these two pizza products
The target markets for Pizza Pan Company are demographic, geographical, psychographic and behavioral. The company is intending to promote the two new products into the selected target markets.
From the demographic market point of views, Pizza Pan Company is targeting for the highest consumption of consumers which are between 18 to 44 years of age nonetheless the consumption is starting to drop at the starting ages of 45 for the people. Besides, the company is not fixing the gender of consumers of selecting the products. Demographic speaking, the company is targeting for the single and married people who are likelihood to consume frozen pizza. It can facilitate the conveniences of individuals or even working marriage couples who are having busy routine in preparing meals for themselves. Time- constrained is vital to be more efficient for works therefore frozen pizza can satisfy their needs with just few seconds, fresh frozen pizza is ready on table compared to home cooked meal, it take longer time to prepare. Furthermore, the presence latch-key children in household raise the profitability of purchasing the frozen pizza since parents are away for living, being independently is the role for them includes preparing their own meals. Not only income and occupation of consumers are included in the demographic market. For example, a person who is holding the high-position in the rapid changing world, can means he/she is high income earner who has to responsible with amount of workloads through working against its time. Hence, they are encountering frozen pizza is fast food and best convenient option for them to work through their days. Besides, the company is targeting for the English-educated students who are more likely to follow the western style by consuming frozen pizza as their priority frequent meal whereas Chinese –educated students are preferred in consuming flour products as their elementary needs such as rice. Since Malaysia is multicultural country and comprising of variety race with different religion. Therefore, Pizza Pan Company is taking into consideration of religion respects as their target market. As a result, two new frozen pizzas are promoting but restricting with no pork contents, namely “Halal” in order to be available for Malaysian consumers. Also, the young generation has becoming the target market to focus on nowadays. Owing to the lack of responsibilities that teenagers have and the lack of home cooked meals whiles home alone, along with current trends of impatience youngsters that everything must be “simple and fast”, thus frozen pizza is a quick alternative for meal.
The geographical target market for the company is Malaysia. The company is targeting for the metropolitan such as Kuala Lumpur which is the capital of Malaysia and Penang as the second high population area. However, the company would only develop the two new products to other urban area and rural area in accordance to the sales rate which is showing the response of new consumers. Besides that, it is also due to the reason that rural area people are more dependable to their own agricultural consumptions which is generated in a traditional way for many decades instead of spending on a new product. Moreover, the new products are available in shopping malls, grocery shops and even schools.
Another target markets owing to psychographic is individuals who value their health and diet. They are those who have a fast-paced life and don’t seem to have much time on their hands. They are those who find it difficult to fit in something health for lunch as anything that is “fast” is fast-food. For example, frozen pizza is quick, easy and delicious at the same time can have for lunch. The home oriented is the people who are willingly to stay in the house rather than hanging out for their lunch or dinner. For example, couch potatoes or game- addicts who are more likely to do multitask, similar to watching while eating. Hence, frozen pizza is the alternative choice for them or appropriate for the night oriented person who is hard to fill up his or her starvation in night time. Besides, target market to focus on for Pizza Pan is all social class can enjoy the frozen pizza as it is economical for everyone. With the outgoing and energetic personality individuals are on the list of target market because they might curious to come across of how delicious a new frozen pizza can be.
The target markets for behavioral segmentations are benefits, usage status and attitude towards product. Attitude towards product is the emotional response in which positive attitude would affect the usage and loyalty status to a company. If the new frozen pizzas are meeting the customer’s satisfaction, hence new consumers would insist of consuming the pizza by shifting to the regular consumers. In order to benefits the on diet or health conscious consumers, Pizza Pan is designing the light-cheese, single –size and whole meal pizza with adequate nutritious guaranteed on the package. Moreover, the advantages of new frozen pizzas are only to be cooked in just 5 minutes. It would beneficial busy workers who are working around the clocks to be fast and convenient for their time efficiency yet economical for their livings in the rat race world.
3) To develop a marketing mix for ONE of the products.
The marketing mix is primarily made up of four variables and they are product, place, price, and promotion. The marketing mix is often described as a method used in developing a viable marketing strategy, with each ingredient being used different ways and at different times based on the product or service one is trying to market .The type of place channels used by Pizza Pan is the direct channel. The direct channel is successful when there is an extremely large market that is geographically dispersed. The direct channel is also useful when there are a large number of buyers, but a small amount purchased by each. Pizza Pan uses two different methods of selling its products directly to the market. The first method of place used by Pizza Pan is free delivery as supplier’s .The Company would supply their products to wholesalers, retail chains and supermarkets or even small neighborhood grocers for their mass selling. The advantages of using the method is a lower search cost for our consumers. Consumers will not have to search the lengths of the earth to find our product. Basically they could find it anywhere. Another method of distribution is for consumers to dine-in especially those who are travelers can go to the highway recreational stands or even conveniences stores like 24 hours Seven-Eleven shop to purchase the fresh from oven frozen pizza. It can mean convenient as “quick” and “take-away” products for the travelers eager of reaching the destination.
Product Pizza Pan should offer a new product called "The Deluxe" pizza. "The Deluxe" is a light-cheese, single-size, whole meal pizza which is the alternative choice for the health-conscious who is on diet with light cheese content pizza along with the current trend that “slim is beautiful” for female who is likely to consume whole meal foods rather than origin flour foods. This new pizza will have many different competitive advantages. The first competitive advantage of "The Deluxe" is dietetic food concerned for consumers. The second competitive advantage is the whole meal pizza which is in reasonable price and single-size than any other pizza on the market which is a jumbo pizza. In other words, it would be a waste for an individual finish the pizza on time. Thus, “The Deluxe” helps for cost-saving. Another competitive advantage is the Pizza Pan brand name. Pizza Pan has built an international brand name which means quality products. Since Pizza Pan will be introducing "The Deluxe," customers will automatically think this is a high quality product. The final competitive advantage is that this product will be the special designed pizza to target Malaysian youth. "The Extreme" pizza will target young generation or people between the ages of 18 and 45. This market purchases a lot of pizza each year, but very few pizza restaurants actually target them. "The Deluxe" will be introduced on 8TV channel. During the introduction stage of the product life cycle, Pizza Pan will try to establish a market for the product and persuade early adopters to buy. During the growth stage, Pizza Hut will try to build sales and develop a preference for the product. Pizza Hut will try to seek differentiation during the maturity stage. "The Deluxe" is expected to begin and declining the purchase intent after one year on the market.
Pricing strategy is of great importance because it affects both revenue and buyer behavior. The retail pricing strategy allows Pizza Pan to charge a price that is below the competition, in order to promote the frequent sales since the market of the demand of suppliers and consumers are elastic. Customers are price sensitive and the quantity demanded will increase significantly as price decline. Therefore, several sales promotions and coupons will be used to lower the price below those competitors. For example, Pizza Pan is offering promotional discount in short-term by stimulating sales with discounted price or even suppliers who are buying in bulk can get discounts from the company. The high or low pricing strategy has several advantages. Firstly, pricing strategy will help to segment the market. Different groups of customers are willing to pay different prices for the same product. Pizza Pan is enabling to sell "The Deluxe" to the consumers who are “first-come-first-serve” with economical price. Secondly, pricing strategy will also create enthusiasm. Customers will be able to try something new when they purchase "The Deluxe" and this exciting experience may bring those customers back to purchase other products.
The main theme that will be used to promote "The Deluxe" is youth. Since Life brand of tomato, chili or BBQ sauce is becoming the non-substitute items for Pizza, therefore it will be included in "The Deluxe" promotions. The main promotion will be a coupon to purchase "The Deluxe" and receive a packet of sauces which includes many favors. The objectives of this promotion are to introduce a new product, stimulate demand, change the short-term behavior of the customers, and encourage repeat or greater usage by current customers. This promotion will be distributed mainly by mail, but also by fliers on college campuses or supermarket malls in order to reach the target market. "The Deluxe" will be published in the newspapers or magazines that are popular with the target market such as STAR, New Straits Times, Woman weekly, Galaxy and Seventeen. Although advertisements are not cheap, Pizza Pan is an Australian company who is preparing the financial resources to advertise. The young people will then eat "The Deluxe" with their favor sauces. There will also the teaser banners will be bought to be displayed on bus stops, lampposts or even the Billboard announcements will be placed wherever on the highways for the travelers to notice it. Thu, the advertisements campaign can create awareness of the new product in the target markets.
In conclusion, the promotion of new frozen pizza to the market generates Pizza Pan is the product awareness amongst its new consumers in frozen pizza market. The level of success that the "Deluxe Pizza" will bring Pizza Pan depends heavily on the correct promotions mix. As stated earlier, the segment of the market that we have targeted is a very diverse group. This means that the promotion of the product must be done in a diverse style. This will result in a more expensive advertising campaign; however, the potential for a successful product will cover the costs and bring in substantial profit.
References
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8. Kotler & keller,(2006),marketing management (12 th edition) prentice-hall, inc