Market Potential Essay Example

Market Potential Paper Introduction Munchy’s company is one of food company type which in variety of biscuits, wafers, cracers and cookies type. In Malaysia, the headquarters succesfully established at Johor, around 1991. The Munchy’s term was derived from the Mandarin term â€Å"Mai Oi†. †Mai† which means flour or wheat and â€Å"Oi† that refers to the magical quality found in it’s delicious wafer. Nowadays, the brands distributed all over country including Asia Pacific, Europe, Middle East, Africa, North America and Latin America to expand the networking branched. The main marketing objectives of company include making communication with customers by good promotions and expanded advertising. Otherwhile, there must be a good distribution for Munchy’s in global connection. Munchy’s always highlighted to produce with good raw material because the mission of the company is to provide fun, cheeky, yummylicious, and affordable biscuits and snacks for everybody around the world. There are several marketing strategy for Munchy’s , therefore the first point, the deep knowledge and vast experience in the biscuit-making business. Beside that, there must be invaluable insight into product development and also endless pool of resources and knowledge. The other strategy is sharing of skill and expertise with reputable brands. Products and Corresponding Target Markets Market demographics can be classified to 3 factors which is geografic factor, demografic factor and seasonal factor. For geografic factor, not all the country in the world would accept and like food product like biscuit and wafer because their staple food is from difference kind of resourses. We will write a custom essay sample on Market Potential specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Market Potential specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Market Potential specifically for you FOR ONLY $16.38 $13.9/page Hire Writer For example staple food of Asians majority on rice while certain country the staple food is tapioca. Demografic factor, this product is for all children and also for teenager and adults. Children is the highest consumer than the others. From other sight,the consumer consist from high income because biscuit it available in small quantity and cheap, rather than low income. There is a special biscuit for baby for their food sources. Seasonal factor,biscuit and wafer are most demand in a party or as a present for an even, sometimes this food become popular because of the promotion by consumer who had ate this food. Market Growth As the company embraces innovation and continuous improvement, Munchy’s has received numerous awards. With already a strong presence in Malaysia, Munchy’s continues to raise the bar by constantly strengthening their product appeal and market network in Asia and around the world. To achieve this, the company is regularly brand building through their numerous innovations and new products. So far, the results have been overwhelming, with warm support from loyal consumers. The most recent example of their commitment to continuous improvement and innovation is the installation of three new lines that are custom-designed and are valued at an estimated RM 50 million. This brings Munchy’s total investment in its manufacturing and warehousing facilities to over RM 200 million since 1996. * New Products With the constant line-up of new products and product innovation constantly introduced to the market, Munchy’s has become synonymous with innovation. Their most recent offering was launched in response to the current trend and desire for healthy snacks. Filled with healthy and scrumptious fruit, oats, and more, the Oat Krunch makes a delectable, healthy biscuit that one will reach out for anytime of the day. Munchy’s also launched the irresistible Captain Munch in the second quarter of 2009. The biscuit is targeted at teenagers and kids, and is also enriched with Energy Plus that contains Vitamins B1, B2, B3, B6 and B12. This makes Captain Munch a source of vitamin and nutrition, as well as the perfect nutritious health snack solution for smart and active kids and teens. These recent additions – Oat Krunch and Captain Munch reinforce Munchy’s commitment to providing more great-tasting snacks that help consumers strike a healthy balance in their daily lives. Market Demografics Market demografics can be classifed to 3 factors which is geografic factor, demografic factor, seasonal factor. Geografic factor Not all the country in the world would accept and like food product like biscuit and wafer because their staple food is from difference kind of resourses. Demografic factor This product is for all children and also for teenager and adults. Children is the highest consumer than the others. The consumer consist from no limit income because biscuit it available in small quantity and cheap. There is a special biscuit for baby for their food. Seasonal factor Biscuit and wafer are most demand in a party or as a present for an even. Sometimes this food become popular because of the promotion by consumer who had ate this food. Marketing Mix * Product Munchy’s boasts a great range of portfolio that includes biscuits, wafers and wafer sticks. With the commitment to have facilities of the highest quality in order to achieve the best product quality, the company has invested in fully-integrated conveyer system to state-of-the-art warehouses. This includes two wafer plants, four biscuit plants and four wafer-stick machines with 16 production lines – which allow Munchy’s to have maximum production capacity of 5,000 tonnes upwards per month. Today, Munchy’s carries more than 70 products, including wafer cubes, crackers, assorted biscuits, wafer rolls, wafer sticks (coated and uncoated), sandwich biscuits, cookies and plain sweet biscuits. The evergreen favourites are: * Calcium / Sugar / Cream / Vege / LiteCream * Crackers * Marie Biscuits * Gigabite Wafer Rolls * Munchini, Yosss Speed Wafer Sticks * Funmix and Topmix Assorted Biscuits * Lexus Sandwich Crackers * Muzic Nuss Wafer Cubes * Mini Sandwich Biscuits Brand Values The company’s positioning of ‘colouring moments with cheeky fun’ is reflected in all their activities, both internal and external. This can be seen from products, work premises and right down to corporate culture. With a strong elief that they are set apart from the rest, this differentiation has been the cornerstone of their success. An example of this was in 1993, when the company realised the importance of brand positioning and differentiation, and came up with the name ‘Munchy’s’, derived from the mandarin term ‘Mai Qi’. ‘Mai’, which means flour or wheat, and ‘Qi’, which means amazing and magical, refer to the high quality of wafers made from only the finest ingredients. The very first product under their brand name was ‘Yesss’, which was subsequently, renamed ‘Yosss’. Today, Munchy’s is a household name in the 60 countries to which it exports and plans for expanding their market share are already in place. With a continuous increase in its branding activities, the Munchy’s brand promises to achieve the company’s vision of being the leading world-class brand in all its markets, sooner than expected. * Place Munchy’s has located in 60 countries around the world. Their marketing and distribution offices number 12 throughout Malaysia, Singapore and Thailand, and the company also represents their own and third party brands. Price The price for biscuit is affodable for all kind of consumer. Moreover, the high standard packaging and quality taste. * Promotion Munchy’s believes in strong and effective brandbuilding, and achieves this through its strategic consumer-led promotions. These are focused through integrated through the-line activation including Above-The-Line and Below-The-Line channels, as well as internet mark eting. These promotions are based on relevant consumer and customer insight, grounded by the big creative idea as its bedrock for engaging communication. Besides thematic and tactical campaigns that are carried out on a monthly and quarterly basis, one of Munchy’s key drivers in brand building is its rship role. Munchy’s is a big player and firm believer in sponsorship platform – as one of its key drivers in brand building. Munchy’s has been the proud sponsor of major concerts organised by top concert and event organisers, television and radio stations. More recently, Munchy’s sponsored the Miss Chinese Cosmos Southeast Asia Pageant, and even created its very own title – Miss Munchy’s Fun Fit – in line with the launch of its latest health range – Oat Krunch. Today, with sponsorships that help garner increased mileage for Munchy’s, the brand image is easily recognisable as one that offers high quality products. Despite these successes that have been achieved in an amazingly short period, Munchy’s has never forgotten to give back to society. As part of its business journey, Corporate Social Responsibility has been one of its top priorities from day one and will continue to be so indefinitely. Market Summary Since it was establish several decade ago, biscuit now became acceptable by all level age of consumer. It was the first time produce when their test market received positive feedback from public. The demand for junk food and instant food are now increase. It is develop from small production in tradititonal method and then it grew up from years to years with the help of technology. Biscuit is the product that replace other junk food or instant food which gave less and lack nutritional value. High nutritional value help our body to maintain in health and avoid from disease by taking too much junk food. In Malaysia, one of the company that produce the biscuit Munchy’s. Munchy’s arrival marked their transformation into fun products. Operating with a mission to â€Å"fill all homes the world over with funeating Munchy’s snacks†, the company has grown to be the Number One home-grown wafer producer and Number Two biscuit producer in Malaysia, both in terms of volume and value. Additionally, today Munchy’s is known as Malaysia’s Number One home-grown biscuit brand. Munchy’s today boasts state of the art manufacturing and warehousing facilities that cover more than 400,000 square feet in Batu Pahat, Johor, Malaysia. Their products can be found in approximately 60 countries around the world making it the fastest growing Malaysian biscuit manufacturer with over 1,300 employees. Their marketing and distribution offices number 12 throughout Malaysia, Singapore and Thailand, and the company also represents their own and third party brands. BrandLaureate Awards in the past three years. It also made it to the Malaysia Book of Records for ‘Largest Wafer Manufacturer’ in 2006.