Empanada-final

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County College of Morris *

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3100

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Marketing

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Nov 24, 2024

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docx

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Business Plan EMPANADAS Part 1 Present the marketing research objectives, methodology, information collected and analyzed and report. Empanadas has a clear business goal of providing gourmet empanada service. Improve and promote the taste of empanadas, provide customers with quality goods and services at reasonable prices, and provide superior cost-effectiveness to maintain customer loyalty and growth. The company hopes to attract a regular and loyal customer base with its wide range of empanadas, from beef and chicken to vegetarian and vegan options and desserts. We strive to provide products at competitive prices to meet your needs. Trend overview for 2023  Social conversations about Empanada have declined by -0.39% over the past year  3.42% restaurants offer Empanada on their menus  The fastest rising consumer need for Empanada is Snack  The dominating diet for Empanada is Vegan Trends for chicken empanada  Social conversations about Chicken Empanada have declined by -17.77% over the past year  0.76% restaurants offer Chicken Empanada on their menus  The fastest rising consumer need for Chicken Empanada is Snack  The dominating diet for Chicken Empanada is Vegetarian Consumer Decision-Making Process Model Consumer behavior can be defined as a behavior that consumers present when searching for, buying, using and evaluating of services or products that they hope will meet their demands Why empanadas? Properties of food Physiological effect- access, education, skills (e.g. cooking) and time Sensory perception-appearance, odour, flavour, taste and texture attributes. Personal Factor Biological- Existential needs, hunger, appetite, and taste, eating disorders Psychological- improve mood and mitigate effects of stress via brain opioidergic and dopaminergic neurotransmission,stress,mood

Socio- demographics- People differ in the importance on various health- and non- health-related motives in their daily food selection Decision making Recognition of the problem Information search Evaluation Selection-Form in which food sold, Amount of production, Demand for item, Production costs, Advertisements Environmental factors Economic-cost, income, availability. Cultural-culture, family, peers and meal patterns Marketing- consumer trust, health considerations, environmental benefits and availability Methodology We will study information from different sources like market research reports, trade publications, and government statistics to learn about the industry's trends, size, and future growth. This is called secondary research. We are going to ask people questions about how they like empanadas, and how they buy them. We will do this online, in person, and in groups. We will talk to people who work in the same business as us to learn about how much they charge for their products and how they sell and deliver them. Part 2 1. Business Plan a.- Brief description of the opportunity Empanada wants to attract the attention of loyal consumers by offering products at reasonable prices. Freshly made premium empanadas bring unimaginable possibilities to your daily routine. As an appetizer, side dish or main course, our premium empanadas fit into any kitchen portfolio. Empanadas come in four sweet filling variations. The main products are empa chocolate, empa chocolate nuts, empa emma, and empa coco. According to management, it is served piping hot in eco- friendly packaging or containers. The menu is simple but imaginative, with a wide variety of items to exchange. Empanadas aims to build a loyal customer base and, as such, focuses its business and marketing efforts on its primary target market, the local population. It is also estimated that travel accounts for about half of their income. Empanadas advertise on the internet, in flyers and word of mouth. We manufacture and sell a variety of empanadas to suit all tastes, mainly for those looking for a meal on the go. The company strives to treat its customers like family and provide the same quality meals they serve at home.

b.- Market size - Segments Demographic-downtown workers, young people, students, millennials, weekend shoppers Geographic-city central, specific neighborhoods, restaurants, malls Psychographical –social class, lifestyle, behaviour 2. Internal Analysis: a. Value chain. The esteem chain incorporates sourcing high-quality fixings, planning the empanadas, showcasing and deals, and conveyance. b. Application of Resources and Capabilities The commerce will use its ability in formula improvement, client benefit, and catering to distinguish itself from the competition. c. Resources and Capacities Management. The commerce will prioritize the administration of its assets and capacities to guarantee a steady supply of high-quality fixings, proficient arrangement forms, and viable showcasing and deals methodologies. d. SWOT analysis. Strengts - New, different and inviting products; Every stakeholder holds the goals mission, vision and working together wee Weaknesses-Empanadas aren’t worldwide spread Opportunities-New locations and headquarters, Increase market share, Sales revenue Threats-Competitors gaining and growth of revenue F. Strategic Profile. The trade will separate itself by advertising interesting and imaginative empanada fillings, giving fabulous client benefit, and leveraging its catering capabilities to serve expansive occasions. 3. External Analysis: a. PEST Political-Law food regulations, Law food business have to abide by Economic –Changes in buying patterns as income raise or decrease

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Social-Job insecurity, Recession, Demand-pull inflation (caused by excess demand), Experience of individual attitude and lifestyle, Buying force Technological-Machinery, Equipment, New technologies for communication with customers, Innovative products (Internet banking), Distribution changes (Order online applications, delivery) Legal- Employments laws, Customer health and safety Environmental-Recycling, Pollution, Sustainability b. Analysis of the Main Competitors. Empanada Price Place c. Potential Competitors Top Competitors of Empanada  La Scogliera. <$5M.  Parma Pizza. <$5M.  Endivine Grill & Bar. <$5M. ...  7 West Cafe. <$5M. ...  King Rustic. <$5M. ...  The Mill. <$5M. d. Real substitute products. Gluten-free-plantains, cassava, yuca, Cornhusks, Chard Leaves, Portobello Mushroom Caps, Squash Blossoms, coconut wrappers, and Rice paper wrappers, almond flour, coconut flour. Almond flour is high in protein, fiber and iron and is a great gluten-free alternative for empanada dough. Another healthy option is to make your dough using cauliflower. Cauliflower dough is a great gluten-free and low-carb alternative that is easy to make and is great for stuffing, rolling and using in empanadas. Empanadas are a traditional Latin American dish that can be filled with a variety of savory or sweet ingredients. The type of filling used depends on the region, but there are three main types of empanadas that are widely found across the world.

4. Strategic Approach. a. Corporate philosophy. Mission, vision and values. Mission- to provide customers with delicious food, amazing service, and a friendly atmosphere Vision- To be company that innovates for its excellent attention and service to customers. b. Competitive advantages and strategic weaknesses. Empanada is quite cost-effective and they may use cost leadership strategy, but is not worldwide notorious and budget for advertising is restricted. c. Business model. Great Products – providing exemplary products at market prices – will make customers want to return again and again Ingredients are also made fresh without preservatives d. Justification of corporate and competitive strategies. The corporate and competitive techniques are defended by the developing request for road nourishment and catering administrations, as well as the opportunity to distinguish through interesting and inventive empanada fillings. 5. Marketing and Sales Operational Plan. -Advertising, Increase sales, add variety of flavors/Choices, Extend branch out to other places, Wholesalers, dustributors, retailers a. The client. The Empanada Company was founded with a clear focus on customer needs. Better customer satisfaction leads to better employee satisfaction, as employees prefer to work for companies with high customer satisfaction and low levels of problems and complaints. Through a structured customer discovery process, it was identified that the customer's main problem was the need to standardize all recipes. This is an important point for our chosen target market of foodie business people. b. Products/services of the company. Empanadas can be enjoyed at restaurants, delivered to your home, frozen, or purchased at the grocery store. The company only uses fresh local ingredients to make their empanadas, so the food tastes better! Fresh ingredients also retain a much higher nutritional value than adulterated processed foods. . Additionally, consumption of fresh local produce is more sustainable. This reduces supply chain costs, protects local agricultural land, and reduces reliance on fossil fuels for transportation.

c. Price. A solid pricing strategy will help you identify the price at which you will get the most profit from selling your goods or services. Business owners need to consider a variety of factors when setting prices, including: B. Manufacturing and distribution costs, offers from competitors, positioning strategies, and the company's target customer base. And in the face of that allegation, company owners decided on the following tactic: price skimming. is set. The company gradually lowers its prices when competing products come onto the market. Skimming pricing gives companies an opportunity to maximize profits with early adopters before lowering prices to attract more customers. d. Distribution channels. and. Sales force. Empanadas are mostly made in homes and restaurants. Food has strong cultural roots and varies according to its origin. Popular chain Taco Bell recently incorporated empanadas into its apple-infused dessert offerings. Small and portable, it's perfect for fast food chains like Taco Bell. They are inexpensive and fit into anyone's busy schedule. Popular brand GOYA sells “empanada shells” that allow families and working parents to easily prepare meals at home. F. Communication. Communicating with your customers on multiple channels and allowing them to reach you on their preferred channels improves every stage of the buyer journey. You can contact the company by phone, email, messaging apps, communities, and more. To improve communication channels, the company can invest in social media tools and speed up promotions. Evaluating the success of customer communication through feedback supports the company's strategy and increases customer engagement. By collecting and analyzing requests, improvements are made where necessary. The best way to get customer feedback is by sending surveys, requesting reviews, and monitoring social media. g. Budget. The promoting and deals budget will be based on a rate of income, with a center on cost-effective showcasing procedures. 6. Operations Plan. a. Location criteria. Company must take into account things like foot traffic, nearby competition, and accessibility. If possible, try to find a spot near other businesses that could help draw in customers and make sure the choosen space has adequate kitchen facilities. b. Physical needs of the company. Safe work environment. Proper lighting. Clean facilities. Airflow. Heat. The correct tools to do the best job. c. Productive process.

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On-time delivery: smooth processes make our work easier so we can deliver products or services on time.  Greater efficiency: Clearly defined responsibilities help avoid inefficiencies.  Greater Stability: Good processes bring order to a company with many moving parts and people.  Increased throughput: Project managers have process documents and templates at their fingertips so they can focus on the actual work.  Increase accountability: Map your processes to see where bottlenecks are and ensure that those responsible have the right support or knowledge to achieve results.  Increased training efficiency: A clear process framework becomes part of a structured onboarding plan and helps reduce the need for in-house training.  Continuous Improvement: By identifying complex issues proactively rather than reactively, you can stay abreast of changing expectations and new technologies and gain a competitive edge. 7. Control Systems and Contingency Plans.  Good communication is very important , those who work for the company and those who buy from it. If there is a major problem, such as a fire or flood, and there is no water, restaurants may not be able to serve many dishes or may have to close for a while. Make a list of people and organizations you can help in an emergency. B. Managers, offices, government agencies, utility departments. Make a note of your contact information so that you can contact us immediately if necessary.  Power Outage Backup – Power outages can occur in any restaurant and can seriously damage food during preparation and storage. One way to power your restaurant is to install a generator. Generators can temporarily keep critical systems running, such as cash registers and chillers.  Plan should cover all aspects of your business operations that require electricity, such as food, billing, electrical equipment, and communications equipment. Emergency menus that require minimal preparation and battery- powered or smartphone swipe machines are really extreme situations. In addition, all personnel should be internally trained on their roles and responsibilities during and after an outage.  Food safety

 Food Spoilage – Food is the first to be affected by a power outage. TCS (Time/Temperature Control for Safety for Safety) Food spoils if it is not kept within a certain temperature range.  Water supply – Restaurants need clean water for almost everything from cooking to maintaining exit hygiene. Use bottled water for drinking and cooking when fresh water is contaminated or boiling water is fine, and use disposable containers, cups and plates when boiling or not enough hot water is not available please. Do not use ice from the ice maker. Or a soda fountain if the water is contaminated. After the water supply is restored and before using the unit, discard the first ice cube, flush the ice maker system, and clean and disinfect the ice maker. Do not resume food service until potable water for hand washing and cleaning is available. disinfection and cooking  Minimize long-term business impact  Maintain a good reputation  Protect your brand  Limit the crisis to the affected company or brand to minimize the impact on the industry as a whole.  Ensure that our conduct complies with applicable laws or regulations to minimize liability  Collaborate quickly and efficiently with crisis responders and government agencies  Rapidly identify and address stakeholder concerns  Assist law enforcement without jeopardizing the legitimacy of the organization

 Establish media ties and select authorities to help spread the organization's message.  Provide effective, accurate and timely information  Manage financial risk 8. Conclusions. Empanadas are a well known nourishment thing with potential for development. The advertise is divided, but there's an opportunity for a national or global brand to set up itself. Fetched of generation and dispersion can be a challenge, but compelling branding, showcasing, and deals methodologies can offer assistance businesses pick up a competitive edge.Last but not slightest empanadas speak to a promising opportunity for businesses that can viably explore the challenges and capitalize on the market's potential. References:

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Empanada-final

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