Packaged Food – Marketing Plan for Sherry’s Food Company

Marketing Plan for Sherry’s Food Company
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Marketing Plan for Sherry’s Food Company
Executive Summary
Sherry Food Company is a newly established company in the "ready to eat" meat business subsector in the food industry. The company markets its goods in UK department shops, high-frequency outlets, and mass merchandiser supermarket stores. The firm makes cold cuts products. Six months after the company's founding, Sherry Food Company has already achieved widespread recognition for its high-quality processed meat products. The company's vision is to lead the cold-cut meat sector. The company's mission is to provide unparalleled quality packed meat that is entirely safe for humans by using the most qualified and experienced employees.
Situation Analysis
Although the firm is relatively new to the food sector, it is doing well and providing cold-cut meat of a high caliber in the short time it has been on the market. Its quality is comparable to that of the UK's leading food rivals. This demonstrates that the business is steady and anticipates further growth ambitions. The company's development and expansionary strategies thus include this marketing strategy as one of the essential elements.
Market Summary
The company's long-term objective is to dominate the cold-cut meat business in the UK. According to corporate leaders, the new product would enable the business to take advantage of the shifting market and even break into existing ones.
Target Markets
College students (18–25) • Working parents (26-35) • Upper middle-class group (35-45)
Market Geographics
The Sherry Food Company has two different regional market strategies since it has large manufacturing. First, goods are sold in all sections of the nation via small to medium-sized businesses such as corner stores and convenience stores. This gives the business an efficient and successful national presence. The Sherry Food Company sells its goods via superstores like Carrefour and Safeway to maintain a high sales volume. This tactic accounts for the majority of overall sales. Sherry Food Company developed a strong brand by creating market strategies and plans based on long-term prospects such as potential market expansion, stable political conditions in the United Kingdom, leadership in the food business, and consumer trust. Due to China's large volume of imports, rapid growth, more affluent citizens reflected in their buying power, macroeconomic stability, and diverse preferences owing to cultural diversity, Sherry Food Company has also increased its sales to other nations.
Market Demographic
The Sherry food firm caters to middle-class to affluent university students. The company's various goods also connect with consumer income; students from lower- and middle-income families prefer to buy cold-cut meat since it is reasonably priced and ready to eat.
Aspects of Market Behavior
(Functional Value)
The firm's customers feel that cold-cut meat provides functional value since they prefer ready-to-eat food and want to spend less time preparing meals. The fact that many of the company's customers use cold-cut products for sandwiches, that Sherry's customers eat cold-cut products as part of their breakfast meals, and that Sherry's customers live fast-paced lives and require convenient, wholesome food that is simple to prepare, store, and transport are just a few of the behavioral traits that are already evidently influencing the company's marketing strategy.
Organizational Structure
Each of Sherry's central department's top managers supervises and delegates tasks to their staff members. Notably, the operation/production department accounts for more than 50% of Sherry's staff, and the majority have low levels of education (high school and below).
Department of production or operations
Due to the several activities that the department manages, including manufacturing, packing, shipping, quality check, and control, the production department employs the most people overall. This department is a priority for the business since it is crucial to delivering customer benefits and a significant area for cost reduction. Examples of how the department supports the sales and marketing strategy include ensuring that inventory management, rules and processes for production planning, and the efficient execution of all orders submitted are followed. This is accomplished by putting in place the appropriate plan and stock management systems, taking into account the material stock levels, the production performance, and the permitted standards and quality. Additionally, the department creates quarterly reports that the marketing department may use to develop marketing plans and tactics, displaying the actual production status, inventory levels compared to forecasted demand, capacity utilization, and production downtime.
IT Division
The Sherry Food Company's IT department is in charge of upgrading and adapting the ERP system to meet the needs of the business. They must ensure that their ERP system is connected, trustworthy, and consistent with recognizing significant opportunities and possible issues since it is one of the primary data sources for "internal records."
Marketing and sales division
The marketing department has been successful for the previous three years, proving that the correct marketing mix tools were used and the marketing strategies were successfully carried out. The marketing division is developing several strategies to boost sales, preserve its competitive edge, and enhance customers' perceptions of cold-cut items. The following are a few examples of the department's primary duties:
• Creating and sustaining marketing plans that align with the whole firm's goals.
• Develop and implement product pricing plans that consider the market's changing dynamics and continuing competition.
• Creating and assessing marketing plans following consumer research findings.
• Conducting market and customer research to find new prospects, learn how customers react to new items, and comprehend how to target market consumers see the company's merchandise and advertising.
• Managing relationships with other organizations: The marketing division oversees organizations that assist the company's marketing efforts via services like advertising, promotion, and product tastings.
• Make sure that the company's goods are improved continuously
• Improve sales success by giving them the data they need to make their strategies.
• Charged for organizing events and attending outside gatherings to promote brand loyalty as sponsors or attendees.
Human Resources Department
As previously mentioned, the majority of the workforce has low educational levels, so the human resources department plays a significant role in the business. The department is in charge of training and developing employees' skills and abilities and introducing new hires to the company's policies and procedures. Additional duties of the human resources department include:
• Hiring and maintaining personnel records
• Employee evaluation and training.
• Managing employee interactions and communications
• Managing payroll and labor law compliance.
Finance And Accounting Division:
The accounting department of Sherry Food Company is in charge of producing financial statements, paying suppliers, supervising and managing LCs, and collecting accounts receivable for the business. Estimating cash inflows and outflows, maintaining a positive cash flow, and applying for loans as necessary are the duties of the finance team and management.
Market Analysis Through SWOT
The company's strengths and weaknesses, as well as the opportunities and threats, are shown in the following SWOT analysis.
Strengths
• The company's trademark.
• Production using cutting-edge technologies
• Highly skilled employees working with a top-notch human resource management system.
• Variety in products that meet different demands across several divisions.
• Constrained financial stability.
• Superiority, with an organizational structure that complies with the requirements of the international standard ISO 14001 for environmental protection.
Weaknesses
• The management of promotions is exemplary and strategic with a constrained ongoing plan.
• Miniscule yet well-coordinated communication.
• Trust in paperwork, which slows down productivity.
• Repeated absences from meetings due to the marketing manager's need to see a cousin in Lebanon.
Opportunities
• Consumers now choose ready-to-eat meals more, leading to increased demand after the COVID issue.
• Because most families have limited time, focusing on this client category is essential. Because more parents are working, their kids require ready-to-eat meals.
• To increase sales, the corporation should adopt cu...