DRAGON'S DEN ASSIGNMENT

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Jomo Kenyatta University of Agriculture and Technology *

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EXCEL

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Marketing

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Nov 24, 2024

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MRK108 “DRAGON’S DEN” GROUP ASSIGNMENT INTRODUCTION TO MARKETING OLISAEMEKA JAMES EJIZU CHAHATPREET KAUR INSTRUCTOR – SIMRAN BHAMU 1

SWOT ANALYSIS for Curdz Poutineries. STRENGHTS Distinctive Gourmet Offering: Curdz Poutineries distinguishes itself from other poutineries by providing a distinctive and gourmet twist on the traditional Canadian cuisine. High-quality ingredients may be a strength of Poutine if they are highlighted, drawing in guests looking for a fine dining experience. Novel tastes: Curdz Poutineries may draw in a broad clientele of people seeking a variety of poutine experiences if it offers novel and varied tastes. Brand Image: Building a solid reputation as a gourmet poutinerie will help you attract repeat business and favorable word-of-mouth. WEAKNESSES Limited Market Reach: Given that not everyone is prepared to pay a premium for poutine, gourmet options may only appeal to a small segment of the population. Higher Price Point: Some potential consumers may be turned off if the cost is very expensive, particularly if they are used to more conventional and reasonably priced poutineries. Seasonal Demand: Sales of poutine may be impacted at particular periods of the year by seasonal fluctuations in consumption. Dependency on Ingredient Availability: The consistency of the product may suffer if a certain gourmet ingredient isn't constantly accessible. OPPORTUNITIES Culinary Events and Festivals: Attending culinary events and festivals may increase visibility and draw in foodies. Online Presence: Establishing a robust online presence via social media and a website helps increase their audience and help with direct sales. 2

Partnerships and Collaborations: Working together with other fine dining establishments, influencers, or gourmet food suppliers might lead to chances for cross-promotion. Health-Conscious Offerings: Tapping into the expanding market of health-conscious customers may be accomplished by introducing healthier or customisable choices. THREATS Competition: Losing market share might occur when traditional poutineries and other upscale dining businesses open up shop. Economic Downturn: People may spend less on upscale or non-essential food goods when the economy is struggling. Changing Customer tastes: The demand for gourmet poutine may be impacted by changes in customer trends or tastes. Supply Chain Disruptions: Unexpected occurrences like natural catastrophes or problems with the global supply chain can cause disruptions to the supply chain if a company is dependent on a certain supplier or component. PRODUCT Curdz Poutineries presents a distinct and upscale take on poutine, a traditional dish from Canada. Given that it entails the preparation and sale of a particular food item, it comes under the category of physical commodities and services. 2. Easy-to-use Items: Poutine may be viewed as a convenience food, particularly if Curdz Poutineries markets itself as a readily available and often eaten meal choice. Consumers may purchase it without making a significant shopping effort or strategy. 3. Categories of Consumer Goods: 3

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Given Curdz Poutineries' distinctive and gourmet qualities, it is possible to categorize them as shopping products. Due of its uniqueness and perhaps higher price point when compared to classic poutine, customers may comparison shop. 4. niche Products: Curdz Poutineries fits within the niche product category, as seen by its gourmet twist. Customers may be hesitant to accept alternatives as they actively seek out this unique item. The possibility of restricted distribution adds to its uniqueness. 5. Product Mix: Curdz Poutineries appears to feature a varied selection of products, including biscuits and beverages in addition to several varieties of poutine (vegetable, chicken noodle, and cream of chicken). By doing this, they may reach a wider audience and satisfy a range of customer tastes. 6. Product alterations: Examples of product alterations would include Curdz Poutineries adding additional flavors, modifying the cooking process, or updating the way the poutine is presented. This could contribute to maintaining the product line's attraction to customers and freshness. 7. Repositioning: Curdz Poutineries may want to think about redefining its brand by altering the opinions of customers. To stand out in the market, this may entail highlighting the gourmet aspect, distinctiveness, or any other distinctive qualities. Retraction of Product Line: Curdz Poutineries may think about eliminating or reducing some product lines if particular Poutine varieties or other goods in the product mix aren't selling well or meeting consumer preferences. This examination helps you comprehend how these ideas might be used in practice in a business setting by applying the ideas from Chapter 9 to the particular situation of Curdz Poutineries. PRICE 4

Ron De Silva from Curdz Poutineries is requesting a $500,000 investment in exchange for a 40% equity share in the company during his Dragon's Den presentation. According to this estimation, Curdz Poutineries are projected to be worth $1.25 million in total ($500,000 / 0.4). Premium Pricing: Curdz Poutineries may use a premium pricing approach if it wants to market itself as a gourmet poutinerie with a distinctive and superior product. This entails charging more than rivals to highlight the uniqueness and excellent caliber of their gourmet poutine. Cost-Plus Pricing: This tactic includes figuring out the manufacturing costs and then tack on a markup to determine the ultimate pricing. Given the $50,000 total investment required and the 40% stock position given, one may assume that Curdz Poutineries has computed the sum of money required. WHY THIS Positioning as a Premium Brand: Curdz Poutineries may choose to take a larger equity interest and increase investment if they want to establish themselves as a premium and gourmet poutineries that offers a one-of-a-kind eating experience and high-quality ingredients. Business Expansion: The $500,000 may be used for marketing initiatives, the establishment of more sites, and maybe even improving the general customer experience. This is consistent with the premium positioning and the idea that building a strong brand presence requires a significant expenditure. Market Differentiation: To set Curdz Poutineries apart from rivals, it could be wise to pursue a sizable investment and provide an ownership participation. It conveys a degree of earnestness and dedication to development that may distinguish them in the MARKETING STRATEGY 5

1. Targeting without distinction: If Curdz Poutineries sees the market as one large gourmet poutine market without distinct particular segments, then it may choose to use undifferentiated targeting. According to this strategy, a single marketing mix would be used to satisfy the demands of the whole market. 2. TARGET Market: The demographic that is interested in gourmet poutine is Curdz Poutineries' target market. The company creates, employs, and keeps up a marketing mix with the goal of catering to this group's particular demands and encouraging fulfilling interactions amongst them. 3. Focused Niche/Targeting Approach: Curdz Poutineries would be using focused targeting, or niche marketing, if it chose to concentrate on a certain subset of the overall market, such as people looking for a high-end, gourmet poutine experience. The strategy of multi-segment targeting: On the other hand, Curdz Poutineries would be using a multi-segment targeting approach if it decided to provide multiple flavors to satisfy a range of tastes or tailor its marketing mixes to appeal to different market segments. 5. One-to-One Marketing: This type of marketing is customized for each individual consumer. Curdz Poutineries would be in line with one-to-one marketing if it used consumer data to tailor products, foster client loyalty, and use technology for individualized experiences. 6. Positioning: Curdz Poutineries would use positioning to change the way prospective clients thought about their gourmet poutine. The company wants to make a name for itself that stands apart from other Poutine products in the eyes of customers. 6

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7. Product Differentiation: Differentiating products from those of the competitors is the goal of product differentiation. To set its gourmet poutine apart from regular poutine in terms of flavor, taste, or quality, Curdz Poutineries may employ product diversification techniques. Curdz Poutineries may think about repositioning if it has to alter customer impressions. This might entail changing its marketing tactics to influence consumers' perceptions of their gourmet poutine in relation to other brands. These marketing ideas offer a foundation for comprehending Curdz Poutineries' potential positioning, differentiation, and target market approaches. PROMOTION The presentation from Dragon's Den can shed light on Curdz Poutineries' marketing approach. Given the nature of the food sector, they may employ social media, advertising, and maybe collaborations with food bloggers or influencers to raise awareness. One such strategy may be to establish oneself as a distinctive and high-end poutineries brand, highlighting the superior quality and gourmet aspect of their products (Chapter 15). PLACE The term "distribution strategy" describes Curdz Poutineries' approach to making its product accessible to consumers. It. If they are a gourmet poutinerie, they may employ a variety of distribution methods, such as direct channels (selling to customers directly) and maybe collaborating with posh eateries, culinary festivals, or events to highlight their products. Given the high-end and gourmet quality of their offerings, Curdz Poutineries may want to consider forming strategic partnerships with fine dining establishments, lodging facilities, or caterers in order to broaden their customer base. For clients who would rather buy conveniently online, accessibility might be improved by implementing an online platform for direct sales and delivery. Taking part in food-related festivals and events or working with culinary influencers may help brands become more visible and draw in a larger audience. 7

DRAGON'S DEN ASSIGNMENT

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