The Market Potential for Slim Cal in Canada - Case Study Example

The Market Potential for Slim Cal in Canada Background information Symbiotics limited establishment in the food production industry remains notable to date in its endeavor to continue facilitating the best services to the customers. The company whose location is in Canada deals with production of client-based packaged food products, with which it engages the Canadian market. However, with recent developments and trends within the eating habits of the Canadians, the company saw an opportunity in 2004 to introduce a new product into the market. That is when Symbiotics limited came with the idea of the production of the product they named, Slim Cal bar. In their professional practice, the company prides itself in the mission that it aims to provide excellent products that convene the needs of the client without endangering their health. The company has a traditional tower management structure, with the chief executive officer overseeing the operation of the business and several managerial positions under him, including marketing directors, human resource management, and finance managers among other organizational structure positions. Thus, the staunch leadership of the company allows it to pursue its objectives. Statement of problem Personal body weight management is a global trend that seems to become an obsession to many people within the past one-decade (Sizer, Piché & Whitney, 2012). Traditionally, people used to care less about their intake of food as they used to consume natural and quality food encompassed with several physical activities in their daily lives. However, with the advent of technology and simplification of the process of conducting their daily activities, people realized that there is a need to watch what they feed on, to avoid obesity among health challenges. The subject for discussion then became establishing quality products for consumption by customers that meet their health concerns without endangering their lives. Thus, the conception of the idea of Slim Cal bar by Symbiotics limited was timely. They saw an opportunity and engaged their gear to establish a product for the Canadians to address their health concerns, proving them with a packaged food product that sought to address their needs for healthy nutrition allowing them to maintain their body weight. Thus, the problem for the company now is to establish a platform for engaging the customer to accept their product and gain a competitive advantage within the market. Thus, they sought to establish the market potential for their product, Slim Cal bar, within the Canadian market. Situation analysis The Canadians have the obsession that their health is at risk due to the increasing weight gain trends within the country. The recent reports in the health department of the country shows that there is an exploitation of the people of Canada from the diet product manufacturers; as any diet product marketed by any celebrity becomes a favorite of every person, with the shelves in shopping channels remaining void of nay diet products (Tarasuk, 2010). Every person doing shopping is on the lookout for the latest diet can on the shelves of the supermarkets, in their undertaking to purchase something that will enhance their weight loss programs. Some people even take to the gym and forgo their meals in the effort of managing their weight, while others adopt an orthodox means of weight loss, such as ‘forced fasting’ among other activities. However, according to Slim Cal bar, these unorthodox ways of watching weight are not the answer to weight management, but rather in the procedure in which the people handle their food intake, and quality of the foods they take. According to the survey, the result indicates that more than half of the Canadian adult population is on some form of diet with their sole aim being to lose weight. Additionally, according to these surveys, among the popular means that people use to manage their weight include, eating less food, taking low-fat diet and low-carbohydrate portioning. Additionally, the people worry significantly over their body fat content and aspects of diseases associated with body weight, such as obesity. To alleviate these concerns, the people sought to take back on their fat and carbohydrate consumption; however, they still seemed not to make any notable progress. Moreover, the major packaged-goods companies in the country respond to this opportunity by introducing the products, which fit in the described expectation of the customers (Sizer, Piché & Whitney, 2012). Thus, in the marketplace, various such products seeking to follow the expected guidelines of the customer are available, in their endeavor to achieve competitive advantage and capitalize on the market potential of Canada. Symbiotics limited observes these statistics in awe as they realize the opportunity to grow their business and offer quality products to the customers. Thus, although the opportunity is available, the market is available, there are various factors for evaluation and consideration for the company product that is Slim Cal bar, to achieve the marketplace share it deserves in the market. The company needs to establish various procedures to foster its success in the marketplace, in Canada. The market is diverse and customers are many but the strategies are what the company needs to engage the market potential in Canada. Marketing mix The products in the market that pursue the objective of facilitating the diet products as the customers’ desire are numerous. There are those companies investing in producing packaged foods with strict guidelines and limited content of the substances that the customers do not want. Other companies provide drinks, with limited calorie content among other substances for reducing weight, while some invest in facilitating gym for the people of Canada to keep their bodies fit (Tarasuk, 2010). However, in view of the current competitive trends in the marketplace, Symbiotics limited realizes the need to avail quality products, unique to the people and at fair prices, as this remains the only available opportunity for the company. Most of her competitors in the industry provide the same products and charge them at exorbitant prices. However, in view of Slim Cal bar, the company provides a varying approach, with a marketing mix that meets the concerns of the consumers, both their health and financial abilities. The packaging of the product is in cans of different measures in size, which makes it available in any quantities that the customer may desire. Additionally, the brand name interests customers as their aim is to slim. Moreover, the product, which entails a number of flavors, provides quality diet with sweetness accompanied. Moreover, the company plans to provide promotional offers to the customers as well as pricing that meet the pricing potential of the consumers. Moreover, in the aspect of placing, the company will conduct intensified distribution to ensure that their product is available in all shopping channels, in the country, from supermarkets to retail shops. Thus, from the engagement of these aspects of the product mix, the company will establish effective marketing strategy to beat the competitors in the marketplace. SWOT analysis Strengths There is an extensive business opportunity available for the company to explore. The Canadians have an increasing demand for products in the diet category to purchase. The Canadians have a relatively high purchasing power, which allows the company to set pricing at considerable rates to make good profit margins. Weaknesses Other companies in the industry introduce diversity, including drinks and food products, while Symbiotics only has the food product; thus, this limits their success. The company is relatively new in the diet foods marketplace; thus, it must start advertising and promotion from scratch. Opportunities The Canadian weight loss efforts seem not to bear fruit, which leaves a large share of the market to explore. The companies offering the weight management products are few in the country; thus, there is a market for the products. Symbiotics as an established company has a foundation in Canada, which means it can cover the available extensive market share. Threats The company faces stiff competition from the already established companies, such as Unilever and Krafts Foods. There are numerous products all alleging to help consumers lose weight, with some not backing their claims, thus customers become confused while choosing a product to purchase. Environment analysis External The opportunity in Canada is evident from the concerns of the customers. The statistics indicate that over 50% of the adults are on a diet, indicating the vast population that needs the supply of quality diet products that address their concerns. The demographics of the case indicate that, most of the Canadian population seeks to associate with any product that has the endorsement of celebrity in the promotion section; thus, this means that, with proper advertising, the company will establish a substantial share within the marketplace. Moreover, the increased health concerns of the people in the country play to the advantage of the business people as they will explore the opportunity and facilitate services to the people (Stone, 2004). Thus, in view of the population and the available market space, the Symbiotics has a high percentage of success with the business environment having such high demographic potential. In additional, there is the government and health policies governing the content that manufacturing companies provide to the consumers. These guidelines eliminate the chances of fraudulent and substandard products within the Canadian marketplace, which means that the ground for competition is fair. However, there is the concern of competition in the market, as several companies seek to capitalize on the opportunities. The main competition is from companies such as Unilever and Kraft Foods among others. Nonetheless, with competitive marketing strategy, the Symbiotics limited will seek to establish Slim Cal bar as the product of choice for the customers, thus making tit successful in engaging the market potential in Canada. Internal Symbiotics limited has a strong internal organization structure, with several departments under a manager in that area of operation. Thus, from the perspective of the internal organization of the company, the structures facilitate the company in managing the entire processes such as marketing, product promotion, and production of quality products and management of the finances. This factor will facilitate the success of company in the field as internal wrangles will remain at bay. Moreover, the company has operating policies with which it established a reputation worthwhile; therefore, they will seek to sustain this reputation by providing quality products at affordable prices. This aspect of reputation is an internal strength for the company to operate, as most companies such as Unilever initially had products that did not feature weight concerns. The policies of the company in conducting effective marketing strategies, and operating with concern for the customer will also add to the success of the company in operation. Financially, the company is stable to sustain its operations; hence, it will easily adapt to the changes in the midst of the universal financial crisis. Recommendation In implementing the action plan for the business, the market entry strategy will consider the following. The first is the product mix. The company has a defined packaging, placing, promotion plan and pricing strategy. The company will ensure that there is a comprehensive distribution of the product within as many shopping outlets as they can reach. Moreover, the product promotion will also extensively cover all advertising channels available, including the website of the company, other blogging sites, social media, magazines and television among other channels. This will ensure that the company reaches the target audience from all platforms, gaining an extensive share of the customers. The pricing will be favorable to the purchasing power of the Canadian people, while ensuring that it maintains a considerable profit margin. The extensive manufacturing process will take place within the premises of the company as it has the equipment to manufacture Slim Cal bar. Moreover, the sourcing of labor within the country will also allow the company to ensure they capitalize on the skills within the Canadian people. Slim Cal bar promises to give results to the people of Canada, and end their diet concerns for the better, as it is a highly effective product, from tested and proven results. Conclusion The company expects to achieve the ultimate reward of success in the initial six months of operation in the category of diet products, as the customer base is adequate. Thus, by responding to the customer needs in the category of diet in Canada, which remains a leading concern to the people, the company is putting itself in a prospective position for success. The demographics and statistics are indicating a promising opportunity for the entry of Symbiotic limited and their product Slim Cal bar. The brand name of the product is a leading factor in capturing a share in the marketplace. The result after suing the product will further, foster the marketing and promotion activities of the business, as the product promises to revitalize the lives of the Canadian people. References Stone, M. (2004). Consumer Insight: How to Use Data and Market Research to Get Closer to Your Customer. London: Kogan Page. Tarasuk, V (2010). Policy directions to promote healthy dietry patterns in Canada. Applied Physiology, Nutrition & Metabolism, 35(2), 229-233. Doi: 10. 1139/H10-099 Sizer, F. S., Piché, L. A., & Whitney, E. N. (2012). Nutrition: Concepts and controversies. Toronto: Nelson Education. Read More