Marketing Management on Noodles: A Class 12 Business Studies Project
Marketing Management on Noodles: A Class 12 Business Studies Project
Noodles are a popular food item among consumers of all age groups. They are easy to cook, tasty and affordable. However, the noodles market is also very competitive and dynamic, with many brands vying for customers' attention and loyalty. Therefore, it is important for any noodles manufacturer to have a sound marketing management strategy that can help them achieve their objectives and gain an edge over their rivals.
class 12 business studies project on marketing management on noodles
In this project, we will study the marketing management process of a hypothetical noodles brand called Noodly. We will analyze the various aspects of marketing such as market segmentation, targeting, positioning, product, price, place and promotion. We will also suggest some recommendations for improving Noodly's marketing performance and customer satisfaction.
Market Segmentation
Market segmentation is the process of dividing a large and heterogeneous market into smaller and homogeneous groups of customers who have similar needs, preferences and characteristics. Market segmentation helps a marketer to identify the most profitable segments and design products and services that can meet their specific requirements.
For Noodly, we can segment the noodles market based on the following criteria:
Demographic: This includes factors such as age, gender, income, education and family size. For example, Noodly can target young and urban consumers who have busy lifestyles and prefer convenience foods.
Psychographic: This includes factors such as personality, lifestyle, values and attitudes. For example, Noodly can target health-conscious consumers who are looking for nutritious and low-fat options in noodles.
Behavioral: This includes factors such as usage rate, loyalty, benefits sought and occasion. For example, Noodly can target frequent users who consume noodles as a snack or a meal replacement.
Geographic: This includes factors such as location, climate and culture. For example, Noodly can target consumers in urban areas where there is a high demand for fast food.
Targeting
Targeting is the process of selecting one or more segments that have the highest potential for a product or service. Targeting helps a marketer to focus their resources and efforts on the most attractive segments and avoid wasting time and money on unprofitable ones.
For Noodly, we can use the following criteria to evaluate and select the target segments:
Size: The segment should be large enough to generate sufficient sales and profits for Noodly.
Growth: The segment should have a high growth rate or potential for future growth.
Competition: The segment should have low or moderate competition from other brands.
Compatibility: The segment should be compatible with Noodly's mission, vision and values.
Based on these criteria, we can choose the following segments as the target segments for Noodly:
Young and urban consumers: This segment consists of consumers who are between 15 to 35 years old, live in urban areas, have busy lifestyles and prefer convenience foods. This segment is large, growing and has a high demand for noodles. It also has low loyalty to any particular brand and is willing to try new products. This segment is compatible with Noodly's vision of providing quick and tasty noodles to its customers.
Health-conscious consumers: This segment consists of consumers who are concerned about their health and nutrition and look for low-fat and high-fiber options in noodles. This segment is also large, growing and has a high demand for noodles. It also has low competition from other brands as most of them offer high-calorie and high-sodium products. This segment is compatible with Noodly's mission of providing healthy and nutritious noodles to its customers.
Positioning
Positioning is the process of creating a distinctive image and identity for a product or service in the minds of the target customers. Positioning helps a marketer to differentiate their product or service from those of their competitors and create a unique value proposition for their customers e0e6b7cb5c