NMO S4 SPRINT ONE | BUSINESS CASE SCENARIO - 03
Submission BCS
Ramalingam Foods Marketing Manager
Submission Date & Time: 2021-11-25 10:38:56
Event Name: NMO S4 Sprint One - IIM Visakhapatnam
Solution Submitted By: Mahesh Kataria
Assignment Taken
Marketing DepartmentCase Understanding
Founded in 1965 by Mr. Ramalingam Venkatesh Ramalingam Foods is a successful fast-food restaurant. They were famous for their authentic south Indian food and filter coffee. During emergencies, strict rules were imposed on selling food items at a minimum price. Under immense pressure Ramalingam Foods found innovative solutions to sustain themselves in these harsh conditions and regulations. They started selling Dosa-Idli batter & packets at low cost while making a good margin. Later it became their main business. Soon Ramalingam Foods started selling food items in the Pan India market and expanded their portfolio of food items to a ready-to-eat instant mix. The management came to know that some people are buying this food item domestically and selling it internationally through their shops. Mr. Vijay wants to expand his business in the international market hence they have hired SyncIt consultancy services. In order to break into the foreign market, the company will have to overcome numerous obstacles. It is attempting to get into a market where its items are already being sold by well-established sellers. While exporting is the best method, it is not without its drawbacks. The company's marketing approach is inflexible and insensitive due to the absence of product modification. It will also be challenging to persuade restaurant owners to buy from them.BCS Solution Summary
Marketing strategy to tap into a fast-expanding market in Singapore.Solution
We are choosing Singapore as our target market to expand because: -
- The process to establish a startup there is quick, simple, and inexpensive.
- The laws of both countries -- India and Singapore -- permit the full ownership of a Singapore company by an Indian citizen or by an India-based business.
- The value-added tax is fixed at 7% and many goods and services are exempted from the GST.
- The capital gain tax rate in Singapore is 0%.
- The corporate tax rate is less than 17% in Singapore.
- World Economic Forum’s Global Competitiveness Report 2016-2017 ranked Singapore 4th in the world and 1st in Asia for having the best IP protection.
STP Analysis
Segmentation: -
Based on age group
- 00 - 19
- 20 - 44
- 45 - 64
- 65 - 89
- 90+
Based on Income
- Rich
- Middle
- Low
Target Audience: -
The Indian population of Singapore is 3,54,890 as of June 2021. Our target audience will consist of the Indian population of Singapore falling under the age group of people from 20 to 64 with low and middle-level income. People working in the industries who are unable to cook and prefer to eat cook-packed food will be our main cult.
Positioning: -
For customers who don’t have enough time to cook, or want a quick, healthy, delicious, and authentic taste of their home food, we have for them a variety of instant food item mix’s.
Tagline – Give hunger a delicious and healthy answer.
Product Value Chain
Import Department of Singapore to Warehouse to Consumer.
Customers can also use our app to order their product.
Promotion
- Through the line marketing to increase brand awareness and target potential customers
- Traditional Marketing through Television Advertisement, print Ads
- Digital Marketing: Social media promotions to capture a young audience
- Paid media: Google Display Ads
- By Participating in events such as food carnivals and providing modest demonstrations of our items.
Conclusion
This expansion will help us in increase our profits and brand recognition. After making our dominance in Singapore we can expand further in nearby countries like Malaysia and Indonesia.Attached File Details
Comments
Article Type: Business Case Scenario, Case Study Solution Submission
Business Case Detail
Title: NMO S4 SPRINT ONE | BUSINESS CASE SCENARIO - 03
Type: Case Study
Stream: Management
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