Jennifer Miller Jonathan Landaw Julie Kline Lucas Mengelkoch

Table of Contents

 Executive Summary………………………………………..

 Situation analysis……………………………………………  Organizational Strategy…………………………………..

 Market Size…………………………………………………….

 Market Share………………………………………………….

 Growth Potential…………………………………………….

 Product Positioning…………………………………………  Tactical Marketing Plan…………………………………………………………………  Conclusion………………………………………………………..

Executive Summary

 Start up company in our first year of operation.

 Offering healthy, carefree dining solutions for individuals, families and elderly people.

 Affordable alternatives to dining out.

 Delicious and nutritious meals.

 Professional and courteous staff.

 A choice you can feel good about!

Situational Analysis / Market Summary

 Target Market  Market Needs and Trends  Market Growth  SWOT Analysis  Competitive Analysis  Service Offerings  Success Strategies/Differentiators

Target Market Demographics

 Geographic Location  Area to be targeted is Rochester, Minnesota and surrounding areas within 20 miles.

 Ideal Clients  Busy professionals (Mayo Clinic Residents and Doctors).

 Dual career families.

 Individuals who do not have a desire to cook.

 Individuals seeking weight loss.

 Elderly people living alone.

Market Trends and Needs

 Trends  Increasingly busy lifestyles make it harder to enjoy healthy meals at home.

 Eating more fast food.

 People of all ages gaining unwanted weight.

 Needs  Quick and convenient ways to eat and live a healthy lifestyle.

 Healthy, nutritionally balanced meals.

Market Growth

 Our services will continue to be in demand as lifestyles remain busy.

 Potential to generate substantial revenue as demand increases.

 Potential to double revenues in a short period of time.  Existing client referrals will drive growth.

SWOT Analysis

 Strengths  Experienced, dedicated management team.

 Professional, hardworking employees.

 Solid financial resources.

 Weaknesses  No established client list.

 Reliance upon client resources in their kitchens could affect quality of meals.

SWOT Analysis cont.

 Opportunities  Limited amount of competition in the area for chef services.

 Proximity to the largest integrated medical center in the world.

 Threats  Conservative community.  Retaining quality employees.

 Competition from local restaurants that provide catering services.

Competitive Analysis

 Pre-made Meals  Dish It Up!

 Seattle Sutton  Catering Services  Local restaurants and grocery stores  Chef Services  None

Service Offerings

 In home preparation of quality, healthy meals by a professional chef.

 Catering services for dinner parties or special events.

 Delivery or store pick up of freshly prepared meals.

Success Strategies / Differentiators

 Employees are fully screened and formal background checks done.

 Clients are able to interview the chef or catering staff before they hire them.

 Donating services to local non-profit organizations.

 Strong focus on exceeding clients needs will ensure growth through referrals.

Organizational Strategy

Meals Made Easy Product Life Cycle Introduction Product/Service • Professional Catering Service Price - penetration stategy - low prices to gain market share Distribution - scattered until a firm plan is in place Promotion - building brand awareness Growth Product/Service - improve product qualithy with new features Price demand - maintained at high level in demand , reduce to capture additional customers Service becomes more intense Promotion - increased advertising to build preference Product - modifications are made due to competitors Maturity - Most profitable Price - price reduction Distribution - new channels and incentives Promotion - get customers to switch; brand loyalty Decline -sales decline as market becomes saturated Maintain the product in hopes that competitors will exit. Reduce costs and new use for products/service Harvest it, reducing market support and coasting along until no more profit can be made Discontinue the product when no more profit can be made or there is a successor product.

Organizational Strategy – Cont.

• • • • • Introduction High-quality food and service at low and affordable costs. Introduce the product and service to expand and build awareness.

Sales and revenue may be lower and advertising costs may be higher. The price of the catering service will be initially low to encourage a wide spread market penetration.

Incentives and/or trial offers will be directed to early adopters.

Organizational Strategy – Cont.

• • • • • • • Growth Promotional Activities - expanding the market.

Advertising will stay at a constant pace to stay competitive. Competitors will begin to enter the market.

New menu items and/or service options.

Bulk buys, purchase incentives, and frequent buyer reward programs.

Offer discounts incentives for customer loyalty.

Continue to build customer loyalty.

Organizational Strategy – Cont.

Maturity  Sales of services will continue to increase.   Profitability is Strong.

Brand Awareness is Strong.

 Advertising expenditures will be reduced.

 Modifications will be made in order to differentiate the product from competing products .

 Loyalty programs will be introduced.

 Price promotions will be advertised to attract new customers.

 Emphasis on differentiation and incentives; to get competitors’ customers to switch.

Organizational Strategy – Cont.

Decline • • • •

Market Saturation:

Sales will begin to decline market becomes saturated.

Menu items will become obsolete, or customers’ attitudes change.

Profitability will be maintained longer with loyal customers.

Hope competitors will exit out of the market.

• •

Extend Product Life Cycle:

Reduce costs and/or find new uses for the services.

Prices may be lowered to stay competitive.

Market Size

Rochester Minnesota community and within a twenty mile radius  Active professional business people  Active dual income family

Market Share

 Penetrate 10% of the Rochester downtown professional.  5% of the active citizens of Rochester and the surrounding communities.  Long-term goal - 20 – 30% of the complete targeted population.

Product Positioning

             

Service Targets:

Elderly Single Families Busy Professionals

Services Provided:

Home delivery of pre-cooked meals ‘Rent - a - Chef’ program Service Costs

Financial Objectives:

Achieve break even point A double digit growth rate for each future year

Strategic Summary (year end goals):

Establish a solid foundation for the business Obtain a steadily increasing client base

Tactical Marketing Plan

 Advertising  Local newspapers  Flyers in grocery stores, Hospitals, Nursing homes and on car windshields within a 3 block radius  Online

Distribution Strategies

 Samples, Free Trials  Benefit Meals  Wedding Conventions  Cooking Conventions  Coupons, buy one get one, buy one get one ½ off  Business Expos  Meal give away – prepared, delivered and served for 12 people

Outward Image

 Clean, bright store interiors  French Interior design – the look of professional chefs and superb training  Professional staff  Khaki and dress shirt uniforms – store staff  Traditional chef wear – hat, white coat and black pants  Casual chef wear – khakis and dress shirt

Conclusion

 Prepared Meals, Catering, Special Occasions  Ready to eat, ready to cook  Target area  20 mile radius of Rochester  Market share  10% after the first year  Very adaptable to changing market conditions

References

 Dish It Up. (n.d.). Retrieved May 26, 2010, from Dish It Up: http://www.dishituprochester.com/contact.html

 Mayo Clinic Rochester Minnesota. (n.d.). Mayo Clinic. Retrieved May 28, 2010, from Mayo Clinic: http://www.mayoclinic.org/about/rochester.html

 Ronald McDonald House. (2008). Ronald McDonald House. Retrieved May 26, 2010, from Ronald McDonald House: http://www.rmhmn.org/

References cont.

  Seattle Sutton. (2008). Seattle Sutton's Healthy Living. Retrieved May 26, 2010, from Seattle Sutton's Healthy Living: http://www.seattlesutton.com/ U.S. Census Bureau, Housing and Household Economic Statistics Division, Education & Social Stratification Branch. (n.d.). U.S. Census Bureau, American FactFinder. Retrieved May 03, 2010, from U.S. Census Bureau: http://factfinder.census.gov/servlet/QTTable?_bm=y& qr_name=DEC_2000_SF3_U_DP3& ds_name=DEC_2000_SF3_U&-_lang=en&-_sse=on& geo_id=16000US2754880