Food is amazing. It is a necessity in order for us to survive and eating it is certainly something we look forward to at any time of day, every day. And it also happens to be one of the most lucrative items for a business to sell in the United States. Many people believe that the key to having a successful food business lies solely in providing consumers with tasty, mouth-watering food. However, contrary to popular belief, there is much more to obtaining success in the food industry than just simply selling food that tastes delicious; this is true for practically any type of business.
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A large multitude of factors exists that influences how well a particular vendor sells their food and one of the biggest factors is marketing techniques. Ranging from aesthetic advertising visuals to elaborate food orientation, marketing tactics are definitely an important factor that heavily impacts a vendor’s potential for success. With that said, it is absolutely critical to not only consider the quality of the food being sold but also consider what marketing strategies should be implemented in order to attract as many customers as possible to the vendor.
For effective marketing of food, it is crucial for a food company to consider such topics as segmentation, positioning, test-marketing, targeting, branding, market entry research and also consumer research. Consumer satisfaction is of greatest value to any producer or supplier. While marketing food, it is also important to note the kind of food, its duration period, that is if it is one that is perishable and its quality and accessibility.
Value chain which is the level to which chronological parties in the marketing channel add worth to the product is also of very great significance. To be able to be competitive in the food marketing, it is important for a supplier to consider demographic studying. This entails thoughtful understanding of statistical attributes of the population. This will enable a firm to grasp the knowledge of the existing market place; for instance, a company interested in entering the market for fast foods in a particular location should consider investigating the number of people between the age of seven to around thirty who are within that particular vicinity(Since such are known to enjoy fast food meals).
It is also important for the company to be able to predict future trends in the food market. (Herbert, 2003). For instance, in such a country as China, there is a very high population and therefore birth rates are also significantly high.
Therefore the company could predict that the demand for school lunch boxes could probably augment and therefore it would be important for the company to find alternative products that are consumed by the high population. In a country with fewer younger people and additional older people such as Japan, it would be important for the company to shift their concentration from baby or toddler foods to that much consumed by the elderly.
It is also crucial for the company to learn the consumption patterns. (Perner, 2008). The consumption rates of certain foods such as chicken and cheese has gone significantly high in the recent years. But this is not the case in all parts of a country. There are some areas where most people prefer cereals and other whole meals to ready-made or fast food meals. This is more so due to the high fat concentration. Other leaner meals are preferred by such groups of people. It would be important for a company to increase the production of such meals in such areas.
For effective marketing, it is also important to clearly identify the type of food product being sold. (Lorette, 2015). A firm should be well informed about the ingredients and other products used in making up that food so that they are prepared for any questions asked by the consumers. The contents making up that food and the levels of concentration should be put into consideration and such should also be labeled in packaged foods so as to avoid suspicion.
The price of the food should also be reasonable in order to attract a huge number of buyers. This is necessary when the class level of individuals living in a particular place is known since the level of income for such customers varies. There are meals which are considered luxurious by some people and are a necessity for others. Therefore, with the knowledge of the price response, the firm will be able to adjust price levels if necessary. Comparing prices with other similar products produced by other companies will also enable a specific market to determine the price to start with while advertising their food products.
For promotional purposes, a company should consider advertising via televisions, print campaigns, internet or any social networking sites. They should do so in a very attractive manner, for instance, by packaging the food or drink in a well designed and unique packet or container. This will attract a greater number of consumers.
In conclusion, the marketing approach involves a lot of creativity by the people involved in the task. Technology is also of great importance in order to produce quality products. Any consumer would be willing and able to buy a product that is advertized in a unique way and is able to make the person salivate for that particular product. Advertizing the food product in such a tempting manner might even make a consumer buy the food or drink at an impulse or sacrifice the money set for other things just to buy that particular product.
Herbert, M. C. (2003). Development and marketing strategies for functional foods. AgBioForum, 6(1&2), 75-78. Available on the World Wide Web: http://www.agbioforum.org.
Lorette, K. (2015). Marketing Strategies for Food Brands. Retrieved 11th March, 2015 from http://smallbusiness.chron.com/marketing-strategies-food-brands-1413.html.
Perner, L. (2008). Food Marketing. Retrieved 11th March, 2015 from http://webcache.googleusercontent.com/search?q=cache:nDx-