Create an Account

Already have account?

Forgot Your Password ?

Home / Questions / This brief but important section will provide the reader the marker with an overview of yo...

This brief but important section will provide the reader the marker with an overview of your product, the reasons for choosing it and all set against the backdrop of the market and its trend

This brief, but important section will provide the reader (the marker) with an overview of your product, the reasons for choosing it, and all set against the backdrop of the market and its trend. Simply you must convey in a concise manner what were the key elements that lead to your decision to introduce your food product. You might want to evidences that certain demographics are becoming more health conscious, and that lifestyles are changing. Additionally you might consider diverse elements such as personal income, pricing structures individual preferences and beliefs, (potential) cultural traditions, as well as geographical, environmental, social and economic factors that impact on food consumption. However, remember we do not need detail at this point just an OVERVIEW that will provide context for the remainder of the assessment. Marks will be awarded for: Rationale: Why you’ve chosen your product Clarity: Reasons for choosing you product Suitability: Evidence of market fit and product viability Market overview/Meso overview In this section provide the reader (the marker) with some key indicators of how the UK food market is currently aligned. Consider overall worth, forecasts relating growth or potential decline, any important predictions, main consumer segments, the main brands and therefore distribution channels that are active in your market. Main Body Macro-environmental analysis and this is a key section! Remember that you’re dealing ultimately with the UK food market, so international issues, unless directly related to your product, that is you may have issues with sourcing or importing certain products, are to be ignored. The highest grades will be awarded for a tailored approach that is, you must avoid discussing and presenting general issues, and only deal with issues that relate directly to your market (fast food, health, snack, frozen food, and confectionary) and product choice. For Political issues, consider evaluating: 1. Health and Safety Guidelines 2. Labelling of Foods/Advertising restrictions 3. Activism (such as Animal rights campaigns) 4. Government campaigns to change dietary habits ( look at the 5 a day campaign) For Economic issues, consider evaluating: 1. Set up cost against the economic backdrop 2. Support from major suppliers/ 3. Growing market/Declining market 4. Increasing/Decreasing disposable income/ Impact of discretionary spending For Social issues, consider evaluating: 1. Changing lifestyles (healthy eating, brand switching, increased desire for sustainable products) 2. Demands for certain food categories (convenience, health) 3. Social Activities/ Increased Exercise/ Eating out more /Price thresholds 4. Changes in your main demographic For technological issues, consider evaluating: 1. Investment in technological innovations 2. Computer ordering (till system)/Online shopping trends 3. Broadband uptake or associability for your demographic For Legal issues, consider evaluating: 1. Laws directly connected to your product and its area of activity 2. Consumer law For Ethical issues, if relevant, consider evaluating: 1. The impact of ethical consumerism in the food market 2. Impact of Fair-trade, organic, free range and dolphin-friendly products 3. Animal welfare 4. Food and drink boycotting

Jun 14 2020 View more View Less

Answer (Solved)

question Subscribe To Get Solution

Related Questions