MARKETING STRATEGY

A marketing strategy for the development of Loyd Grossman's Cooking Sauces



Executive summary

There has been a growth in the use of cooking sauces in many markets, there are now a huge range of different possibilities available including, 'wet' ingredients (generally bottled), 'dry' ingredients (generally in packages),' marinades' - where the fresh food such as meat is added to the ingredients and left for some time to absorb the flavours, and unique packaging solutions such as those which allow for the meal to be cooked in the bag containing the sauce. The cooking sauces market can be associated with the need for solutions to cooking whilst maintaining a busy lifestyle and growth of the sector has been assisted by the requirement for easy to cook meals which still contain fresh ingredients. Cooking sauces are, therefore, associated with convenience foods but have the benefit of incorporating fresh ingredients and enabling home cooking. The growth in the sector has led to many new entrants and greater channels to market have enabled even small producers to enter the market. Supermarkets now stock 'premium' brands and there are now many small producers on shelves in retail shops alongside the largest producers and brands worldwide. This paper presents the strategic marketing plan for Loyd Grossman's Cooking Sauces.

Table of Contents

Executive summaryii

Part A: A marketing strategy for the development of Loyd Grossman's Cooking Sauces1

Business Overview1

The Company1

Environmental Analysis1

Political or Legal Aspects1

Economic Aspects2

Socio-cultural Sector2

Technological Aspects2

Customer Satisfaction3

Marketing Analysis4

Market needs4

Buying Behaviour Patterns4

Market Conditions & Competitors4

Trends5

Competition7

Company Strategic Approach7

Marketing Strategies7

Three Marketing Principles8

Make the Company Known8

Build Relationships with Consumers9

Target Market9

Differential Advantage (Points of Difference)10

Positioning10

Future Marketing Outlook11

Financial Projections11

Part B: Ethical Marketing and Corporate Social Responsibility.14

Introduction14

Discussion15

Conclusion17

References18

Part A: A marketing strategy for the development of Loyd Grossman's Cooking Sauces

Business Overview

The Company

Loyd Grossman Cooking Sauce is a small business operated by the famous American and British TV presenter Loyd Daniel Gilman Grossman. He introduced his own range of sauces including Indian and Thai sauces. His business is currently operated on a small scale in UK. However, the company is looking forward to expand in the current market, increase sales and create a brand.

Environmental Analysis

The natural surroundings we reside in be capable of being very unpredictable. The PEST analysis is well liked trading administration device and procedure of analyzing the numerous distinct external components influencing an organisation (David 2002, p. 121). The PEST analysis for Loyd Grossman is described below.

Political or Legal Aspects

This is marked mainly by the degree of state intervention in the food sector, established programs and policy choices involved. Thus, the food sector is seen by the intervention of the state to regulate and promote it, which is something Loyd Grossman is completely aware of (David 2002, p. 121). The legal environment may be explained by all laws, regulations and product standards in the food sector. Indeed, the activity of Loyd Grossman is guided by clear procedures that define the regulatory and tax advantages that can benefit its activities. Thus, the legal environment is a factor to be considered by Loyd Grossman ...