Background Information: Since 2013, MyFoodBag (“MFB”) has made and delivered meal-kits (sets of fresh ingredients and the recipes needed to create meals at home) to people in major cities in New Zealand. In 2020, other companies such as Woop! also deliver meal-kits, and several supermarkets such as New World offer meal kits for purchase in-store. However, MFB products are more popular than their competitors’ products, because MFB products are created by one of its owners – celebrity chef Nadia Lim. Nadia is very well known and well-liked in New Zealand even though not many people overseas know about her.
The Problem: In 2020, MFB introduced a new product range – called “MADE” -to their meal-kit customers. MADE products are single-serve frozen meals which can be delivered once a week, stored in customers’ refrigerators and then heated in their microwaves for 3 minutes when needed. MADE products seem particularly popular with elderly people. When planning for 2021, MFB considers if they should focus on selling more MADE products to their present customers in New Zealand, or if they should introduce their meal-kits in Sydney, Australia.
What Ansoff Growth Strategy was MFB using when they introduced MADE to their meal-kit customers? Identify MFB’s sustainable competitive advantage (“SCA”). Using this SCA and any other relevant ideas, explain whether introducing MADE was a good strategic decision for MFB. Evaluate the two Ansoff Growth Strategy options they are considering for 2021, and recommend one for them to adopt.
Background Information: Retro-sneakers (athletic shoes styled like those formerly worn by American basketball stars such as Michael Jordan) are very popular among young adult men. These buyers are willing to spend hundreds of dollars to buy these retro-sneakers but each store usually only carries only one pair of shoes in each size when they release a new retro-sneaker for purchase. So, eager buyers have to do their research, keep up with the relevant websites and Facebook groups, and line up for hours in front of the store the night before the shoes are released for sale, in the hope of purchasing the shoe of their dreams.
The Problem: Sung, a University student and retro sneaker fan, has started a business called Retro4U. Retro-sneaker fans email Sung details about their desired retro-sneakers and the maximum amount they are willing to pay for them. Sung does the research for them and then tries his best to get them the shoes they want. If Sung is able to buy and deliver their shoes to them, they pay Sung an extra fee of $100 for his effort. Sung decides to make a strategic plan for 2021. He comes up with the objective: “make a lot more money”.
Explain how Sung provides value to his customers. Discuss whether his 2021 objective is consistent with the marketing concept. Re-state his 2021 objective in a better way and explain how YOUR re-stated objective meets each of these three SMART criteria: specific, measurable and time-bound.
Type of service-Academic paper writing
Type of assignment-Essay
Pages / words-2 / 1000
Number of sources-0
Academic level-Sophomore (College 2nd year)
Language style-US English