Marketing Plan for Forever Young Foods Limited - Essay Example

Marketing Plan Forever Young Foods Limited 18TH October Table of Contents Company and Objectives………………………………………………………………………………………………………………..3 SWOT Analysis…………………………………………………………………………………………………….. 4 Company Strength and Weaknesses…………………………………………………………………….… 5 Market Opportunities……………………………………………………………………………………………….5 Company Threats………………………………………………………………………................................6-7 I. Company Description Forever Young Ltd is a privately owned healthy foods production company. The company was established in 2002 in Leicester city with the aim of producing healthy foods in a market saturated with inorganic and low nutrient foods. The company was incorporated in Britain but has spread to open up retailing shops across Europe. We pride ourself in being the only healthy and organic food institution to be recognised by the World Health Organization for its efforts to promote better lives through healthy foods. In a world where lifestyle diseases sit on each dining table, Forever Young has redefined the meaning of healthy in many dining rooms today through its range of healthy foods. Forever Young products are processed direct from the farms, freshly packed and delivered to dining tables around the world. Each Forever Young product is unique and promises longer life for this generation through healthy families. Forever Young is guided by a mission to become the world’s leading distributor of organic foods, create a healthy family for the future through quality products, enhanced supply chains and well-trained staff. We are committed to a better tommorow and will, therefore, use the available technology to ensure customer experience is enhanced. A healthy family is a healthy generation. Objectives To spread this experience around the world we are committed to; 1. Become the leading supplier of healthy organic foods in the world over the next  decade. 2. Produce high-quality goods and enhance our customers experiences through an enhanced integrated customer support system. 3. Be the leading and best employer since our success is linked to the performance 4. of our employees. 5. 6. Develop new products that create a personal touch for each of our customers. 7. To begin specialised delivery services in the next two years. II. SWOT ANALYSIS 1. Company Strengths Our greatest strength is the goodwill and continuous encouragement that we have received from our clients. In the last twelve months, our customer base grew with a margin of 15% on referrals alone. The referrals signified the great deal of trust placed on our products by our clients. The customer loyalty we enjoy makes it possible for us to make profits above break-even. In numbers, we cater for about 30 million households with a potential of growing the number to 100 million in the next five years. As we venture into the world market, we are encouraged by the fact that the organic food market is growing each year and has a net value of US$45million which hasn’t been fully achieved. Over the years, Forever Young has acquired state of the art equipment that give our products a competitive edge in quality and cost efficiency. Being able to achieve high quality at low prices is a strength that any firm would like to achieve, and we have done it with the corporation from our highly trained staff. In such an expensive market, capital can be a limiting factor. For us though the amount of capital available for investment is high and the continuous interests from investors and our good credit rating give us an advantage when it comes to requesting for funds for new investments. In our 12 years of operation, we have developed a strong staff training regime that allows us to employ and attract the best experts in the market. This strong programme has ensured that staff morale is always high which reflects in our sales and customer service provision. 2. Company Weaknesses Though the future of the industry is bright, we face some inherent and systematic challenges in our operations. Organic foods have never been cheap since production cost is high. With prevalent high costs, it is becoming increasingly hard to reach the middle- income earners who form the vast majority of consumers in the world. We are constantly looking for avenues to create a link between this potential market and our products. Another significant weakness that we have tried to address is the ever changing technological improvements. Due to these changes, the quality of products, though high, has kept on changing which has raised speculations from our customers on brand loyalty and consistency. In our bid to expand to the rest of the world, we need a strong marketing and supplies department for which we currently outsource to reach far markets.Strengthening the two departments will go a long way in reducing supply costs and the lead time between deliveries. Through them, we can also be able to monitor customer satisfaction on our own without depending on third party information. 3. Market Opportunities As stated earlier, the organic healthy food is worth more than US$45 million and is growing each day as the need for a healthier lifestyle is taught and encouraged world over. Access to raw materials in Europe is quite expensive. To reduce costs, we are looking at acquiring land in parts of East and Central Africa where there is arable land to reduce the cost of production and ensure a continuous supply of inputs. We are also exploiting potential referral agreements with health institutions and sports clubs to use our products in the treatment of nutritional diseases in their patients and members respectively. This move will increase our clientele base and reduce marketing costs since the institutions will offer referrals on our behalf at negotiated low costs. In addition to the above, the young athletic population is looking for foods that will enhance their performance without adding illegal substances into their bodies. We have started research on products for this market that will be rolled out for market analysis and testing in the next two years. 4. Company Threats In this period where everyone is running for instant products, we face a challenge in explaining to our customers why our products take time to show results. Therefore, the high number of cheap, low priced inorganic products is a threat to the future of our company. In other instances, governments tend to set very high standards for organic foods compared to inorganic foods that undermine the core purpose of having a healthy nation. The quality assurance processes are long and inhibit the time between production and consumption which limits production capacities. The production and supply of contraband organic foods are also saturating and eroding our market share and increasing suspicion amongst users on the quality of our products and their effectiveness. Contraband has driven some firms out of business.  In spite of these, we shall continue to provide quality and enhance marketing strategies to increase and maintain our market share. No challenge is too big to undertake as long as the right structures and control measures are set up and implemented. Works Cited Charles Lamb, Joe Hair,Carl McDaniel. Essentials of Marketing. Boston Massachusetts: Cengage Learning, 2011. Web. Read More