We started with Porter's Five Forces analysis. We found out that the Intensity of Industry Competition was low to medium, Availability of Substitutes was low to medium, Potential Entrants were High, Buyer Power was low and Supplier Power was low-medium. This was followed by primary research where we took surveys (online and live). This was supplemented with secondary research to find out the various aspects of consumer behavior. The core benefits were identified as "Easy to Cook" and "Tasty Food".
Generally, the decision makers are the young earning professionals or the earning member of the family/housewife. In case of the housewife, their decisions are normally influenced by their pestering children. We then did market segmentation basis various methods like customer characteristics (geographic, demographic, socio-economic, cryptographic), buying situation (consumption rate, consumer predispositions), intermediaries and persona.
We decided to target people in age group of more than 23 years of age with earnings of more than 2 lacks per annum. We thus positioned our product as - To all those who want a comfortable life and who love good & healthy food, Frizz is a unique looking reduce that lets you enjoy the taste of heaven, saves your time and is there for you - anytime you want it. The product was named as "Frizz" with the tagging - "Anytime Pizza". We then decided on the marketing strategy.
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Starting with Product decision, we saw that Frizz is differentiated from its competitors like Domino's basis 4 main parameters
- Lower price at same taste;
- Convenience factor (of using the product anytime rather than Just 12 hours during which a restaurant is open);
- Square shape rather than circular shape, which would appeal to children and adults like;
- Emotional satisfaction for mothers coming out of the feeling that she has cooked a meal for her children.
We then decided various characteristics of the product like toppings, etc. Basis results from the survey. Due to many reasons as explained in the report, the pricing came to as 30-40% lower than that of competition like Domino's. In terms of the place, we decided to launch the product only in cities given the infrastructural constraints at the beginning. The retail channels were decided as supermarkets, specialist stores and super stores, thus following the selective distribution strategy. Various promotional activities (both TTL and BTL) like television ads, Faceable, newspapers, events, etc. Were planned. Finally, a financial analysis was done to conclude the breakable point as 7 quarters.
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