Introduction
The mission statement of the Complete Culinary Convenience (or 3C) is good fit for the company. The objective of Complete Culinary Convenience is ‘to bring families back into their kitchens and by doing so improve the overall quality of their dining experience.
Objective
Here the objective is
- To have 100 steady, regular customers by the end of the first year of operations.
- To break even at the end of the first full year in operation.
- To generate service interest in 5% of local population as evaluated by the total number of inquiries.
These are the target of 3C, from these we can imagine that 3C can make more than 10,000 regular customers in a year because in the city of Portland in Oregon, there are roughly 75,772 parents who have children 17 and under, where both parents are working in the labor force (US Census Bureau, 2008). Basically, this means that there are a lot of families where both parents, since they are working, will not have a lot of time to prepare meals from scratch for the children and do everything else required by today’s busy life. The median family income in Portland, Oregon is $64,139 (US Census Bureau, 2008). This is well above the national median of $52,029 (Quick Facts, 2010). Based on this, families will have extra income to offset the additional charges a service like this may cause, finding it more valuable to have a service such as 3C than to give their money to unhealthy options. So 3C can break even at the end of first full year in operation.
Mission statement is written not in a good format because the mission statement should be specific and accurate. Here mission statement is started with ‘the objective of the 3C is…’.The objective and the mission is different for the organization.
Update of mission statement: ‘bring families back into their kitchens and by doing so improve the overall quality of their dining experience.’
Target market
Here target market for the 3C is the family, more specifically the mothers. (In a survey conducted of 1,000 women, 70% of them say they manage the household finances (Broker Magazine, 2001), and 68.3% of food preparation and cleanup is handled by women within a household (Bureau of Labor Statistics, 2010). Families where both parents are working and they have enough time for cooking.
Purchasing power and size of target market
Statistics are provided to show the viable market. In the city of Portland in Oregon, there are roughly 75,772 parents who have children 17 and under, where both parents are working in the labor force ( US Census Bureau, 2008).
The median family income in Portland, Oregon is $64,139 (US Census Bureau, 2008). This is well above the national median of $52,029 (Quick Facts, 2010). Based on this, families will have extra income to offset the additional charges a service like this.
Competition
There is no direct competition in this field.
The indirect competitors for 3C are-local supermarket, restaurant, and chef services.
According to bundle.com, the typical household in Portland, Oregon will spend about $376 per month on groceries and $291 per month on dining out, which is $667 (bundle, 2010). As stated earlier there are over 75,000 households that are in our primary target market segment. So initially, the market will contain roughly $50 million.
Trends and forecast in the industry
The product 3C is absolutely fit in this market because statistics shows that in the city of Portland in Oregon, there are roughly 75,772 parents who have children 17 and under, where both parents are working in the labor force (US Census Bureau, 2008). They will not have enough time to make meals for the children and according to bundle.com, the typical household in Portland, Oregon will spend about $376 per month on groceries and $291 per month on dining out, which is $667 (bundle, 2010).
Product or service features
The information given here is provided good understanding of the concepts. It provided information about the nature of the product, the consumers of the product, its importance in the fast life, pricing, delivery, etc.
Core strategy
Yes, the core strategy of the 3C is connected with the objective and mission. The core strategy for 3C is to appeal to the busy family by adhering to its underlying mission, which is basically to provide good, healthy, and quick to cook meals for the busy family.
Product positioning
3C will position their service as a healthier option to restaurants, and a more convenient option to pantry management, general grocery shopping, and tedious recipe book page flipping. It is not only convenience product but also healthier product. The value proposition is taken in to consideration the target market and competition. Meal time is when people get together, not just families. This sets 3C apart from its competition in that restaurants can be loud, and not always the best places to spend good quality time together. Similarly, supermarkets such as Safeway do not have that personal touch which the customer would appreciate. Not to mention friends and family always appreciate a meal cooked by a loved one.
Marketing: communication and promotion
All most all aspects of the IMC are included in this discussion. The important IMC tools included in this discussion are – advertising, direct marketing, and sales promotions, with public relations.
Strategy measures the individual aspects of IMC
3C can track the effectiveness of the advertising in the short term by the promotion, since to take advantage of the cheap introductory price, the customers are asked to bring in the ad they saw to get the discount, mention which ad they saw if they sign up over the phone, or if online, it can be tracked which advertisement they clicked for the promotion. Thus, the total number of households that sign up during the promotional period can be tracked. This will help determine which methods to use to attract new customers in the long term.
Pricing strategy
We are greed with the factors identified in this pricing method. The factors identified here are-
3C is a service that generates items for the customer based on the customer’s preferences. By the help of computer program 3C is holding database of the customers. So in future marketers of 3c can analyze the customer’s data, view the customer’s usage pattern and assess the ever changing tastes of its customer base. On the basis of this the 3C services can make variable-rate pricing.
3C is using demand based pricing model
The 3C is providing discounts based on frequent orders. The pricing strategy of 3C is complimentary pricing, variable-rate pricing, and demand pricing strategies
The price adjustment strategy
When there will be chance for slowdown the sales in future then use standardized price for the 3C services for all customers which could cover all the cost and profit
Channels of distribution
The distribution system mentioned here is absolutely good fit for the targeted market. It is using 3 methods like-
- 3c stores
- By order making through phones
- By using e-purchasing
Customer relation ship management
Technology has made much advancement which can aid in the customer relationship management endeavor of 3C. As a result of the use of technology, 3C will be able to react quickly to changing customer demands. For example: direct marketing by e-mail, online customer feedback services, etc improves the customer relation of 3C.