Skinny Pop Popcorn in the Australian Market

Full Answer Section

Sales Forecast Years 1-5

Sales for nonperishable products sold in grocery stores are expected to grow steadily in the coming years. This growth will be driven by a number of factors, including:

• Population growth
• Increasing urbanization
• Rising incomes
• Changing consumer preferences

3. Profit Forecast Years 1-5

Profitability for nonperishable products sold in grocery stores is expected to remain strong in the coming years. This is due to a number of factors, including:

• Economies of scale
• Strong brand recognition
• Loyal customer base

4. Market Penetration and Coverage

The market penetration for nonperishable products sold in grocery stores is already very high. However, there is still some room for growth, particularly in emerging markets.

B. SWOT Analysis

1. Strengths

• Strong brand recognition
• Loyal customer base
• Economies of scale
• Wide range of products
• Global reach

2. Weaknesses

• Competition from other food manufacturers
• Increasing costs of raw materials
• Environmental concerns

3. Opportunities

• Growing demand for healthy and convenient food options
• Expanding markets in emerging countries
• New technologies for product development and marketing

4. Threats

• Economic downturn
• Changes in consumer preferences
• Government regulations

C. Product Adaptation or Modification

The product component model is a framework for understanding the different components of a product. It can be used to identify opportunities for product adaptation or modification.

The core component of a product is its essential features and benefits. The packaging component is the physical container for the product. The support services component includes any additional services that are offered to customers, such as warranties, guarantees, and customer support.

There are a number of ways to adapt or modify a product for the target market. For example, a food manufacturer could:

• Introduce new flavors or sizes of its products.
• Develop products that are tailored to specific dietary needs, such as gluten-free or lactose-free products.
• Use more sustainable packaging materials.
• Offer more convenient support services, such as online ordering and delivery.

D. Promotion Mix

The promotion mix is a combination of marketing activities that are used to promote a product or service to the target market. The four main elements of the promotion mix are advertising, public relations, sales promotion, and personal selling.

1. Advertising

a. Objectives

The objectives of advertising for nonperishable products sold in grocery stores are to increase brand awareness, generate leads, and drive sales.

b. Media Mix

The media mix for advertising nonperishable products sold in grocery stores can include a variety of channels, such as television, radio, print, digital, and social media. The specific channels that are used will depend on the target market and the budget.

c. Message

The message of the advertising should be clear, concise, and persuasive. It should highlight the benefits of the product and explain why it is the best choice for the target market.

d. Costs

The cost of advertising will vary depending on the media channels that are used and the reach of the campaign.

Conclusion

Nonperishable products sold in grocery stores are a large and growing market. There are a number of factors that are driving growth in this market, including population growth, increasing urbanization, rising incomes, and changing consumer preferences.

Food manufacturers can succeed in this market by focusing on their core strengths, developing innovative products, and using a strategic promotion mix.

Sample Solution

Marketing Objectives

1. Target Market(s) (Specific Description of the Market)

The target market for nonperishable products sold in grocery stores is broad and diverse. It includes people of all ages, genders, income levels, and ethnicities. However, there are some key segments that are particularly important for this market, such as:

• Families with children
• Busy professionals
• Seniors
• People with dietary restrictions
• Health-conscious consumers