Marketing Plan for Healthy Bento Box: Strategy and Analysis Report

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This report provides a comprehensive marketing plan for the Healthy Bento Box, a product line of Bentonite. It begins with an executive summary outlining the company's mission to deliver nutritionally balanced, delicious, and wholesome food using organic and fresh produce. The report includes a detailed business analysis, incorporating SWOT and PESTEL analyses to assess the company's strengths, weaknesses, opportunities, threats, and the political, economic, social, technological, environmental, and legal factors influencing its operations. Product decisions, including branding, product description, positioning strategy, and target market identification (teenagers and adults within 35 years of age) are discussed. The report further outlines product pricing, distribution strategies, and an integrated marketing communication plan, encompassing advertising, direct marketing, internet marketing, sales promotion, publicity, and personal selling. A positioning map is used to compare the product with competitors like YOLO, Lean Bento, AMGD, and Fitness. The report concludes with recommendations for the company's success, including the use of organic ingredients and providing flexibility in the choice of food that a client can order and a focus on providing healthy and affordable meals.
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Running head: MARKETING PLAN FOR HEALTHY BENTO BOX
Marketing Plan for Healthy Bento Box
Name of the Student:
Name of the University:
Author’s Note:
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MARKETING PLAN FOR HEALTHY BENTO BOX
Executive Summary
Healthy Bento Box, a product line of Bentonite, is a meal box take away and in-store café.
The company aims to provide a nutritionally balanced, delicious and wholesome food using
organic and fresh produces with a diverse menu. In addition to providing a convenient,
healthy and an easy meal box full of variations that can be customized according to a person,
the company also places an importance on using eco-friendly products and improving the
health of citizens which will lead to a reduced medical expense. This service is particularly
targeted for teenagers and adults within 35 years of age. The brand through tries to promote
the essence of well-being by providing excellent services to its clients. There are no
companies yet in Singapore who delivers a similar type of product, so the company is
benefitting.
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MARKETING PLAN FOR HEALTHY BENTO BOX
Table of Contents
Executive Summary...................................................................................................................1
INTRODUCTION......................................................................................................................4
Mission Statement:.................................................................................................................4
Vision Statement:...................................................................................................................4
DISCUSSION............................................................................................................................4
Business Analysis:.................................................................................................................4
SWOT Analysis –..............................................................................................................5
PESTEL Analysis –............................................................................................................5
Product Decisions:.................................................................................................................7
(a) Branding –................................................................................................................7
(b) Product Description –..............................................................................................7
(c) Positioning Strategy –..............................................................................................8
(d) Target Market –.......................................................................................................9
Product Pricing:....................................................................................................................10
Product Distribution Strategy:..............................................................................................10
Integrated Marketing Communication Strategy:..................................................................11
Advertising -.....................................................................................................................11
Direct Marketing –...........................................................................................................11
Interactive/ Internet Marketing –.....................................................................................12
Sales Promotion –............................................................................................................12
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MARKETING PLAN FOR HEALTHY BENTO BOX
Publicity or Public Relations –.........................................................................................12
Personal Selling –.............................................................................................................13
CONCLUSION........................................................................................................................13
RECOMMENDATION...........................................................................................................14
BIBLIOGRAPHY....................................................................................................................15
APPENDIX..............................................................................................................................18
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MARKETING PLAN FOR HEALTHY BENTO BOX
INTRODUCTION
Healthy Bento Box, a new product launched in the market, originates from the
company, ‘Bentonite!’. The reason for choosing this product is that in today’s time and age,
everyone has become way too conscious about their health and well-being. More often than
not, we also notice that the non-vegetarians are either converting into vegetarians or vegans.
So, as the name suggests, the product we attempt to deliver to our customers will be healthy
and will also strive to make more and more people cautious about their health due to the
rising sickness and medical expenses (Tarulevicz 2013). This product has been designed for
people students, office goers, and people who are extremely careful about the daily calorie
intake. In short, it could be said that that this product would be a convenient and healthy
choice for working adults who do not have enough time to prepare a meal for themselves.
Mission Statement:
‘Healthy and delicious food every day at a reasonable price’.
Vision Statement:
We are focused on joining new, privately developed produce with homestead raised
ingredients to make the freshest dishes you will discover anywhere. We trust that it is all
about finding a parity, which enables us to support our mission of making quality, reachable
nutrition, while additionally offering back to our locale and the earth.
DISCUSSION
Business Analysis:
For any business to be able to operate successfully in the longer run, they have to
analyse certain factors such as SWOT, PESTEL, and Porters’ Five Forces to know the current
position of the business and its possible threats, opportunities, and external and internal issues
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MARKETING PLAN FOR HEALTHY BENTO BOX
(Catherine Henderson 2014). Small business like ours should use these tools as it offers a
broad and operative analysis of the key regions of a strategic plan to be able to compete and
perform better.
SWOT Analysis –
STRENGTHS WEAKNESS OPPORTUNITIES THREATS
The menu includes
vitamin enriched
Bento-Set that the
competitors do not
offer
There is no market
share and a low
market penetration
In order to gain more
customers we plan to
introduce late night
operation and
delivery
Risk of rejection by
the market
Local sourced
items that our
company uses is
already compliant
to the Singapore’s
food & safety
standard (Tu and
Lee 2018)
The product pricing
of our brand is
consistent in the
market, not much
variable is available.
We should purchase
the ingredients
required in bulk so as
to have reduced cost
of goods
Strengths can be
easily replicated by
the competitors
(Tarulevicz 2013)
Our company also
provides a range of
personalized meal
plans by some
qualified
nutritionists
There exists no
brand awareness
Use data analytics so
as to forecast the
volume of sales
Domestic scarcity of
food
We provide and
Omni experience,
where we partner
with gymnasiums to
deliver food to gym
locations
Market saturation
(Tarulevicz 2013)
Effective usage of
(SEO) search engine
optimization
Entry of more food
competitors
PESTEL Analysis –
POLITICAL
The government
supports and
promotes healthy
living
The government has
also initiated a
Healthy Dinning
Programme to
encourage the
industries to provide
healthier food
options.
The
government
encourages the
development
and promotion
of healthy
ingredients
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MARKETING PLAN FOR HEALTHY BENTO BOX
ECONOMIC
The consumers are
also willing to pay
more in order to
receive high
end/healthy food
Due to the increased
cost of living in the
country, the sit-down
stores are charging
the overhead costs to
the customers while a
take-out store is
comparatively
cheaper and more
popular
Due to
globalization
in this fast
paced world,
people are
becoming
knowledgeable
(Han et al.
2015)
With the
advanced
tech of
farming in
the
country,
now the
company
does not
have to
rely on
the
imports
SOCIO-
CULTURAL
The working
culture and
environment in the
country is fast
paced and
consumers are
inclined to opt for
healthy take-away
all the more
People are becoming
more health
conscious and are
resisting from the
junk food as well as
from high sugar
intake (Tu and Lee
2018)
With an
increase in the
amount of
healthy living
activities, for
example,
office ladies
going for yoga
or to gym
during their
lunch
TECHNOLOGY
With the high
adoption rate of
smartphone
amongst the users,
customers are
more persuaded to
use online
applications to
order their food
With the
advancement in
technologies, we
are now able to
keep our costs
low by
maintaining a
just-in-time
inventory
Due to the
technological
developments,
we can reach
to the
consumers in
easier ways
ENVIRONMENT
Clean and Green
Singapore (CGS)
aims to inspire the
Singaporeans to
care for and
protect their
environment by
adopting a clean,
green and a
sustainable
lifestyle.
By sourcing locally,
we are able to reduce
carbon footprint and
creating a more
sustainable
environment (Han et
al. 2015)
Adopt circular
economy by
allowing
consumers to
bring their
own box or
recycle their
reorder
purchase.
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MARKETING PLAN FOR HEALTHY BENTO BOX
LEGAL
Product labelling
halal
Advertising standards Product safety
standard, that
is, the food
safety standard
Makes it
attractive
to conduct
business
(Tu and
Lee
2018)in
Singapore
Product Decisions:
(a) Branding –
Branding of Bentonite has been done by keeping in mind that people want to have a
healthy lifestyle. Hence, the name, Healthy Bento Box has been devised. The product is
packaged in a recyclable plastic box in order to contribute to a greener and pollution free
environment. Each order can be customised according to needs of the customers and the
pricing will vary accordingly (Catherine Henderson 2014). This is applicable for both the
online delivery and in-store purchases. The product can also be categorised into a three
compartment box, four compartment box and this goes on till a seven compartment box
(Chan 2013). We also work with gymnasiums and yoga centre to provide their customers
with a personalized healthy bento (Tarulevicz 2013). In order to keep our brand and the
products at top, we use fresh, organic and high-quality ingredients (Henderson 2016). Also,
we try to make a social contribution as much as possible by giving them the fresh leftover
items and meals at the end of each week. In addition to this, we only make use of the
biodegradable materials for our cutleries and bento boxes.
(b) Product Description –
The sole reason why we believe that our company and this product will outperform our
competitors is due to its pricing and each day variation along with the packaging system
(Henderson 2016). Individuals can purchase the product from the various Bentonite outlets
present across the country and can even place their orders on a weekly basis. Furthermore,
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MARKETING PLAN FOR HEALTHY BENTO BOX
they do not have to stick to the menu fixed by us (Henderson 2016). Our ingredients and
products are Halal certified to ensure a sense of safety and comfort in the minds of the
customers.
Monday Tuesday Wednesday Thursday Friday Saturday Sunday
Rice Tortilla Tuna Chickpea
salad
Greek
Salad
Yogurt
Sauce
Pecans
Vegetable Dip Cheese Bread Chicken Fish Curry Goat
cheese
Red Curry Fruits Fruit Rice Egg Vegetable Fruits
Salad Juice Vegetable Dal Cheese Cranberry
Chicken
Salad
Cracker
Bread Dessert Juice Vegetable Pita Bread Juice Egg
Dessert Egg Dessert Muffin Tzatziki Dessert Milk
Figure 1: Sample Menu
Figure 2: Sample of Healthy Bento Box
(c) Positioning Strategy –
The positioning strategy thought by the company is to place our products at a higher price
as we will be using organic ingredients that has been produced by the local farmers. Hence
consuming this bento box will be extremely good for a persons’ health and well-being (Chan
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Low Quality
High Quality
Expensive
Cheap Qualit
YOLO
AMGD
Lean Bento
Fitness Ration
Bentonite
MARKETING PLAN FOR HEALTHY BENTO BOX
2013). To keep our brand and its services at top when compared to the competitors, we
provide healthier choices with organic ingredients at our physical and online stores for the
different segmental needs of the clients. Another plus factor about our company is that we
provide flexibility in the choice of food that a client can order (Wang et al. 2014).
Figure 3: Positioning Map
(d) Target Market –
The product caters the needs of people around the age of 18-35 in Singapore as this is the
age group where people generally become more cautious about their health. We aim to target
anyone who is careful about their health and fitness even in the slightest way possible (Hoh
and Jacob 2012). This product, although, focusses on school goers and office goers, in
particular (Wang et al. 2014). That is so, because they do not really have that much time to be
able to prepare a healthy meal with a good presentation. So, we would be doing it for them.
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MARKETING PLAN FOR HEALTHY BENTO BOX
Furthermore, the product is not really limited to any age group, as we provide healthy food
which anyone can consume.
Product Pricing:
The product, Healthy Bento Box, has been priced at an extremely reasonable price for
the customers to purchase (Chan 2013). The main goal of Bentonite is to sell and provide its
customers with a healthy meal for them to stay fit as well as hale and hearty and at an
affordable rate (Hoh and Jacob 2012). The product pricing strategy adopted for our new
product is skimming pricing strategy (Horng and Tsai 2012). This strategy has been adopted
as our product is completely new in the market (Phua and Pocock 2012). Hence, this strategy
will allow us to market Healthy Bento Box at a reasonably higher price, as our competitors,
YOLO, Lean Bento, etc. have not yet incorporated this innovative idea in their business
(Spann, Fischer and Tellis 2014). However, this strategy has been adopted only for a short
term period as this idea can easily be replicated by our competitors (Zannierah Syed Marzuki,
Hall and Ballantine 2012). Since it has already been noted that the customers are willing to
pay a higher amount to receive healthy meal, so our company will have an upper hand in the
market as no consumer would like to pay more for a competing product without any
significant improvements (Tan et al. 2017).
Product Distribution Strategy:
Distribution, in simple terms, means to make a product easily available and accessible
by spreading it into the market (Hoh and Jacob 2012). The product distribution strategy
involves various factors, such as, transportation, packing, and finally delivery of the item
(Nishimoto et al. 2015). Distribution is essential for our customers in order to exist and
sustain in the market in terms of sales (Tan et al. 2017). Here, the suppliers play an extremely
crucial role by delivering our end products that is, the bento boxes to our clients (Kawakami
and Papia 2015). Since our company has both, online stores as well as physical stores, it will
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MARKETING PLAN FOR HEALTHY BENTO BOX
become easier if we sort out our distribution strategy for the same (Nishimoto et al. 2015).
We plan to partner up with a Delivery Company and online food service applications in order
to provide more and more customers with our delicious customized meals (Chan 2013). In
addition to this, we also plan to have a distribution channel in the supermarkets and grocery
stores where pre-cooked packed meals will be available for instant purchase by the
consumers (Panone and Resnikoff 2015).
Integrated Marketing Communication Strategy:
Marketing might be incorporated now, be that as it may, it used to be divided. As of
late, an organization to the client, communication has been developed so that if a client is
disappointed with an organization's item, the organization will get to know about it
immediately (Panone and Resnikoff 2015). In addition to this, we incorporate the use of new
media alternatives, for example, search engine optimization (SEO), flag promotions, online
classes, and sites. Likewise, we need to concoct a mix of new media just as conventional
media so as to associate a brand to the customer. Not just this, actualizing Integrated
Marketing Communication (IMC) will be savvy since shoppers are bound to experience and
communicate with the brand over various social channels.
Advertising -
After having covered billboard signs and the hoardings in the hip areas, we plan on to
continue advertising our brands’ name and the products (Nishimoto et al. 2015). We plan to
promote our organic ingredients via videos or social networking events on how urban
farming works (Kawakami and Papia 2015). In addition to this, we will keep our social media
handles active too by uploading our work and the various events we conduct and take part in
(Han et al. 2015).
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