Class 12 Business Studies Project On Marketing Management On Noodlesl
Tommye Hope
Class 12 Business Studies Project on Marketing Management on Noodles
Noodles are a type of food made from unleavened dough that is cooked in boiling water or broth. Noodles are popular in many cuisines, especially in Asian countries. Noodles can be made from different types of flour, such as wheat, rice, buckwheat, or potato. Noodles can also be flavored with various ingredients, such as eggs, vegetables, herbs, spices, or sauces.
Class 12 Business Studies Project On Marketing Management On Noodlesl
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In this project, we will study the marketing management of noodles as a product. We will cover the following aspects:
- Introduction to marketing and marketing management
- Introduction to the product (noodles)
- Competitors analysis
- Reasons for selecting the product
- Marketing mix (product, price, place, and promotion)
- Unique selling proposition (USP)
- Logo and tagline
- Packaging and social message
- Conclusion
Introduction to marketing and marketing management
Marketing is a social process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others. Marketing involves identifying the needs and wants of customers, creating products or services that satisfy them, and delivering them to the target market at a profit.
Marketing management refers to the management of all the activities related to the market. Marketing management involves choosing a target market, growing customers in the target market, creating superior value for the customers, and communicating the value to them through various channels. Marketing management also involves analyzing the market environment, developing marketing strategies, implementing marketing plans, and controlling and evaluating marketing performance.
Introduction to the product (noodles)
Noodles are a type of food that can be consumed as a snack, a main course, or a side dish. Noodles are versatile and can be prepared in different ways, such as boiled, fried, stir-fried, baked, or soup-based. Noodles can also be combined with various toppings, such as meat, seafood, vegetables, cheese, or sauce.
Noodles have many benefits for consumers, such as:
- Noodles are easy to cook and can be ready in minutes.
- Noodles are affordable and can fit any budget.
- Noodles are tasty and can suit any palate.
- Noodles are nutritious and can provide energy, protein, fiber, vitamins, and minerals.
- Noodles are adaptable and can be customized according to preferences.
Competitors analysis
The noodle market is highly competitive and has many players. Some of the major competitors in the noodle market are:
| Name | Origin | Features |
|---|
| Maggi | Switzerland | Maggi is one of the most popular brands of instant noodles in the world. Maggi offers a variety of flavors and variants, such as masala, atta noodles, oats noodles, veg atta noodles, etc. Maggi is known for its convenience, taste, and quality. |
| Yippee | India | Yippee is a brand of instant noodles launched by ITC in 2010. Yippee offers a range of flavors and variants, such as classic masala, magic masala, Chinese masala, etc. Yippee is known for its long and non-sticky noodles, rich taste, and colorful packaging. |
| Ching's Secret | India | Ching's Secret is a brand of instant noodles launched by Capital Foods in 1996. Ching's Secret offers a range of flavors and variants inspired by Chinese cuisine, such as schezwan, manchurian, hot garlic, etc. Ching's Secret is known for its spicy and tangy taste, authentic flavor, and attractive packaging. |
| Top Ramen | Japan | Top Ramen is a brand of instant noodles launched by Nissin Foods in 1971. Top Ramen offers a range of flavors and variants, such as curry, masala, chicken, etc. Top Ramen is known for its soft and smooth noodles, delicious taste, and quality ingredients. |
| Wai Wai | Nepal | Wai Wai is a brand of instant noodles launched by Chaudhary Group in 1984. Wai Wai offers a range of flavors and variants, such as veg masala, chicken masala, tom yum, etc. Wai Wai is known for its crunchy and munchy noodles, savory taste, and nutritional value. |
Reasons for selecting the product
We have selected noodles as our product for the following reasons:
- Noodles have a high demand and a large market size in India and abroad.
- Noodles have a low production cost and a high profit margin.
- Noodles have a long shelf life and can be stored easily.
- Noodles have a wide appeal and can cater to different segments of customers.
- Noodles have a scope for innovation and differentiation in terms of flavors, ingredients, packaging, etc.
Marketing mix (product, price, place, and promotion)
The marketing mix is the set of controllable variables that a marketer can use to influence the customer's response to the product. The marketing mix consists of four elements: product, price, place, and promotion.
For our product (noodles), we have decided the following marketing mix:
Product
Our product is a new brand of instant noodles that offers a unique combination of health and taste. Our product has the following features:
- Our product is made from 100% natural ingredients, such as whole wheat flour, millet flour, quinoa flour, etc. Our product does not contain any artificial colors, flavors, preservatives, or additives.
- Our product is fortified with essential nutrients, such as protein, fiber, iron, calcium, zinc, etc. Our product also contains probiotics that help in improving digestion and immunity.
- Our product comes in four different flavors: classic masala, cheese burst, tomato basil, and spinach corn. Our product also comes with a sachet of seasoning that enhances the taste and aroma of the noodles.
- Our product is easy to cook and can be ready in just 3 minutes. Our product can be cooked in boiling water or in a microwave oven.
- Our product has a catchy name: Noodly. Our product also has a catchy slogan: Noodly - Healthy Noodles for Happy Moods.
Price
Our pricing strategy is based on the following factors:
- Our target market is the urban middle-class segment of customers who are health-conscious and quality-conscious.
- Our product is positioned as a premium product that offers superior value to the customers.
- Our product faces competition from both existing brands of instant noodles and other alternatives of snacks.
Based on these factors, we have decided to adopt a skimming pricing strategy for our product. Skimming pricing strategy involves setting a high initial price for a new product to skim off the maximum revenue from the customers who are willing to pay more. Skimming pricing strategy helps in recovering the research and development costs quickly, creating a high-quality image for the product, and discouraging potential competitors from entering the market.
We have decided to price our product at Rs. 25 per pack of 70 grams. This price is higher than the average price of instant noodles in the market (Rs. 12 per pack of 70 grams), but lower than the price of other premium snacks in the market (Rs. 40 per pack of 50 grams). This price reflects the value proposition of our product: healthy noodles for happy moods.
Place
Our distribution strategy is based on the following factors:
- Our target market is concentrated in urban areas where there is a high demand for convenience foods.
Place
Our distribution strategy is based on the following factors:
- Our target market is concentrated in urban areas where there is a high demand for convenience foods.
- Our product requires proper storage and transportation to maintain its quality and freshness.
- Our product faces competition from both existing brands of instant noodles and other alternatives of snacks.
Based on these factors, we have decided to adopt an intensive distribution strategy for our product. Intensive distribution strategy involves distributing the product through as many outlets as possible to maximize the exposure and availability of the product. Intensive distribution strategy helps in reaching a large number of customers, increasing the sales volume, and creating a strong brand awareness.
We have decided to distribute our product through the following channels:
- Supermarkets and hypermarkets: These are large retail stores that offer a wide range of products, including groceries, household items, electronics, etc. Supermarkets and hypermarkets are popular among urban customers who prefer one-stop shopping. We will place our product in prominent shelves and display units in these stores to attract the attention of the customers.
- Kirana stores and general stores: These are small retail shops that sell daily essentials, such as food items, toiletries, stationery, etc. Kirana stores and general stores are convenient and accessible for customers who live in nearby areas. We will supply our product to these stores through wholesalers and distributors who have good relationships with the shop owners.
- Online platforms: These are e-commerce websites or mobile applications that allow customers to order products online and get them delivered at their doorstep. Online platforms are convenient and time-saving for customers who prefer online shopping. We will partner with leading online platforms, such as Amazon, Flipkart, BigBasket, etc., to sell our product online.
Promotion
Our promotion strategy is based on the following factors:
- Our target market is the urban middle-class segment of customers who are health-conscious and quality-conscious.
- Our product is positioned as a premium product that offers superior value to the customers.
- Our product faces competition from both existing brands of instant noodles and other alternatives of snacks.
Based on these factors, we have decided to adopt a pull promotion strategy for our product. Pull promotion strategy involves creating a strong demand for the product among the customers by using various communication tools. Pull promotion strategy helps in building a loyal customer base, enhancing the brand image, and increasing the market share.
We have decided to use the following communication tools for our product:
- Advertising: We will use various media channels, such as television, radio, newspapers, magazines, billboards, etc., to advertise our product. We will create catchy and creative ads that highlight the features and benefits of our product. We will also use celebrity endorsements to increase the credibility and appeal of our product.
- Social media: We will use various social media platforms, such as Facebook, Instagram, Twitter, YouTube, etc., to promote our product. We will create engaging and interactive content that showcases the usage and experience of our product. We will also encourage user-generated content, such as reviews, ratings, testimonials, etc., to increase the word-of-mouth publicity of our product.
- Sales promotion: We will use various sales promotion techniques, such as discounts, coupons, free samples, contests, etc., to stimulate the sales of our product. We will offer these incentives at regular intervals to attract new customers and retain existing customers.
Unique selling proposition (USP)
The unique selling proposition (USP) is the factor that makes a product different from and better than its competitors. The USP is the main reason why customers should buy the product.
The USP of our product (noodles) is:
Noodly - Healthy Noodles for Happy Moods
This USP conveys that our product is not only tasty but also healthy. Our product satisfies both the physical and emotional needs of the customers. Our product makes the customers happy by providing them with a delicious and nutritious snack.
Logo and tagline
The logo is a graphical representation of the brand name or identity. The logo helps in creating a visual impression of the brand in the minds of the customers. The tagline is a short phrase or slogan that summarizes the brand message or promise. The tagline helps in creating a verbal impression of the brand in the minds of the customers.
The logo and tagline of our product (noodles) are:
The logo of our product is a stylized wordmark that spells out the name of our product: Noodly. The logo uses a fun and friendly font that reflects the personality of our product. The logo also uses a bright and cheerful color scheme that reflects the mood of our product. The logo is simple and memorable and can be easily recognized by the customers.
The tagline of our product is: Healthy Noodles for Happy Moods. The tagline conveys the USP of our product in a catchy and concise way. The tagline uses a rhyme and a repetition of the letter H to create a sound effect and a recall value. The tagline also uses a positive and aspirational tone that appeals to the customers.
Packaging and social message
The packaging is the material or container that holds and protects the product. The packaging helps in preserving the quality and freshness of the product. The packaging also helps in communicating the brand identity and value proposition of the product to the customers. The packaging can also convey a social message that reflects the brand's values and vision.
The packaging and social message of our product (noodles) are:
The packaging of our product is a rectangular cardboard box that contains four packs of noodles and four sachets of seasoning. The packaging uses the same color scheme, font, and logo as the brand identity. The packaging also displays the name, flavor, ingredients, nutritional information, cooking instructions, and expiry date of the product. The packaging is eco-friendly and biodegradable and can be recycled or reused.
The social message of our product is: Eat Well, Live Well. The social message conveys that our product supports the health and well-being of the customers. The social message also implies that our product cares about the environment and society. The social message is printed on the side of the packaging along with a green leaf symbol.
Conclusion
In conclusion, we have developed a marketing management project on noodles as a product. We have covered the following aspects:
- Introduction to marketing and marketing management
- Introduction to the product (noodles)
- Competitors analysis
- Reasons for selecting the product
- Marketing mix (product, price, place, and promotion)
- Unique selling proposition (USP)
- Logo and tagline
- Packaging and social message
We hope that this project has given you an insight into the marketing management process and helped you understand the various aspects involved in launching a new product in the market.
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