The Yummy Food App will be a new product in the market. The organization will go through seven stages in the process of introducing this product to the market: strategy development of the new product, generation of an idea, evaluation, and screening, business analysis, development, market testing, and commercialization. The Yummy Food will be introduced to provide a food and dietary preference, designing a week’s family meal, excellent recipes and products, and link to two supermarkets. Individuals connect with their ethnic group or culture through similar patterns of food. Therefore, food retains the cultural identity and preparing it properly with the right products in a good way enhances the identity of the group.
Yummy food App will offer recipes for Mexican and Hispanic cuisines. The Anglo population and the Hispanic population will be the target audience for this APP. The reason for choosing these two markets is because the Anglo population is the largest ethnic group in the US while Hispanic is the largest minority group in the US. These two markets are large enough for a business to invest in. Therefore, the Yummy Food App will incorporate both Spanish and Whites food recipes as a way of reaching the target market. The app will contain knowledge including the features of Spanish and white foods.
The main features of this application are important foods like turkey, vegetable, fruits, chocolate, chicken, fish, flour, egg, beef, pasta, cheese and others. Another feature is information about food including instructions, ingredients, food description and thumb image. The application will allow the users to create and manage their menus as well as scheduling the menus. It will also give the options of bookmarking and managing the favorite food of a customer. The app will assist the users to share information with their friends and families through Facebook, Twitter, and Email. The app will be the coolest as it will offer its users a chance to scan using their phone’s camera grocery store products to find out if they are healthy choices.
Strategy for Entering the Market
Every business before entering a new market requires to plan ahead. According to Kerin and Hartely (2016), in the process of new product strategy development, it is important for the organization to measure the strength and weakness using SWOT analysis and environmental screening. The next step will be idea generation which includes the development of the new concept from employees, friends, and families. The business will analyze its competition like foodpanda, fooducate, tastemade food apps and other applications. Analyzing the competition strength and weakness will give information on new ideas driven by weakness that will indicate the market gap.
The following stage is screening and evaluation which includes both external and internal approaches that are used in eliminating efforts that do not require additional approaches. It is then followed by business analysis where the features of a product are analyzed. It acts as the last checkpoint before investing on the new product. It assesses the total business where it fits using the company’s vision and mission. The idea is then changed into a prototype, resulting in a demonstrable and producible product. The next step according to Kerin and Hartely (2016) is the market testing. The process involves exposing the actual product to prospective employees to measure their level of adapting to the product.
Commercialization is the final stage in introducing a new product in the market. According to Hutt and Speh (2005), the stage involves launching and positioning the new product in a full scale to produce full-scale sales. The Yummy Food app contains unique advantages that are all incorporate in one system. This is a competitive advantage of the business as the majority of other features include just a few features, but they are not comprehensively inter-twined.
The product is prone to some potential barrier. Due to the product’s nature, there are many competitors in the market including foodpanda, Spanish recipe, foodcauste and other food apps. Due to the increase in digitalization, many companies have come up strategies that are a competition to yummy food app. Another potential issue is the adaptability of the app in the markets. A majority of bloggers and other businesses have included the free app in the system that offers a variety of the services offered by yummy food app. These services are free, and being a chargeable application may face some rejection as people always prefer free items.
Success of the Product
The success of the product will be ensured by pre and post preparation of the strategy. The company will highly invest its resources in advertising and promoting the products especially during the introduction process to build on awareness. The pricing of the product will ensure affordability to all consumers, and simple means of pricing will be used to ensure its applicability. Cravens and Piercy (2006) explains that a majority of business falls during the growth stage due to the rapid increase in competitors. To ensure success in this stage, the market plan will involve broadening; the product distribution by incorporating more features into the system to ensure its flexibility, adaptability, and convenience
Yummy Food App is new food app in the market that will include many features in the food industry. It will assist the market population and any other person to shop for products from supermarkets using the app to pay; it will contain recipes, products, scanning factors for nutritional values and other features. Introducing the product in the market will occur using a seven step procedure. The introduction and the success will be influenced by the fact that food is a form of cultural identity. Therefore, introducing recipes, health products and information on its preparation will enhance the identity of the market group.
Cravens, D. W., & Piercy, N. (2006). Strategic marketing (Vol. 7). New York: McGraw-Hill.
Hutt, M. D., & Speh, T. W. (2005). & Edition: Business Marketing Management. South-Western Publishing Company.
Kerin, R., & Hartely, S. (2016). Marketing the Core (6th ed., pp. 212-270). Mc Graw Hill Pubication.
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