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This report will illustrate a new Plant-based food product and a new beverage-based food company of Royal Based organisation. This Plant-based food company will launch a new product in the UK market, and the below discussion will shed light on the topic.
This Royal Based food and beverage company want to launch a Plant-based food product. Because their main goal is to improve consumer health through the plant-based product, it can absorb the protection from the nutrition that sustains the immune system and decreases inflammation.
When a new company enters the new market with an innovative product, it must face many challenges from its competitors. Similarly, the new Royal-based organization desire to launch the plant-based product in the UK market it can face many obstacles from its competitors who are reign in the UK market. Examples are Unilever, Marlow Foods Ltd, Plamil Foods Ltd, VBIte Food Ltd, and Tesco.
Before launching, a unique product, the plant-based food company should carefully design the actions concerning testing the new product development (NPD) opinions (Pedersen and Kallåk, 2020). Each unique product idea produced becomes flourishing. Explaining the unique product idea and sampling it with the market can help choose whether the unique product concept will succeed. In this new product development concept stage, the Royal-based food company should avoid the product cost and deliver high-quality products at low prices in the UK market.
Create a product concept: A new product idea is a clear description of an idea, which can explain from the viewpoint of the Royal-based company’s target customer. Plant-based products emphasize foods mainly from plants (Lonnie and Johnstone, 2020). This has fruits or vegetables despite nuts, grains, whole grains, legumes, oils, beans, and others. In addition, It does not indicate that it is vegetarian or vegan products and never consumes meat or dairy. Furthermore, it will discuss consumers' viewpoints when explaining the product vision and will enable trial and consider how responsive the UK market will be to the Plant-based food product. Moreover, this concept can be created, manufactured, and provided within the economic, resource, and time limitations.
Target audience: This Royal-based food company should need to choose the target audience from 18 to 55 age-based consumers. The below data described that consuming plant-based foods is a trend for the younger generations. Furthermore, 30 to 32% of the people create a massive market prospect for plant-based foods in the UK (Heredia-Leza et al., 2022).
Figure 1: Plant-Based Food product consuming trends
(Source: Plant-Based Foods Association, 2022)
Target market: The Royal-Based food organization should choose the potential market to help it reach its goals as a UK supermarket. The previous records have described that plant-based foods are worth $7 billion, and since 2019 it was gained revenue of $5.5 billion. The Plant-based food organization's sales increased 27% in the last year. Plant-based food increased by 43 % in the last years. Plant-based food marketing grew nearly 2.5x fast than total plant-based food sales from 2018 to 2020 (Nagabhairava et al., 2018).
Branding is how the company identifies the consumer's reputation, food products, services, and activities. The chosen plant-based food organization is a Royal-Based company that should follow the advertising to develop its image for the business. Keller's brand equity model has described several concepts for improving the organization's growth.
Figure 2: Branding
Brand Identity: It has described the logo, identity, colour palette, and more. Similarly, it has produced brand awareness from its competitors and its products.
Brand Meaning: The brand purpose is the communication of brand elements that include the business model. It can help consumers understand what they will gain when selling with a brand.
Brand Response: It can help create a healthy relationship between consumers and the company. A consumer's excellent viewpoint may contribute to someone else's negative knowledge and opposite.
Brand awareness strategy: The Royal-based food company should focus on their brand awareness strategy, which can help grow productivity.
Plant-Based Food and beverage service organizations of Royal-Based companies are examined as a means of reaching satisfaction and creating touch comfortable in the UK market. The primary goals of this service are below;
Physiological: This Plant-Based food company should taste various types of organic food.
Economical: They must get Food and Beverage services at the invested price.
Social: The Company should create an eco-friendly environment for its potential consumers.
Psychological: They must promote self-esteem.
Furthermore, this Plant-Based food product organization should provide their potential consumers with high-quality organic food and beverage, attentive service, retain the previous consumers and provide attractive food products and services that can bring in new consumers and others.
It has been decided that the organization will be serving different products focusing on the plant-based structure. The food items selected by the organization are Burger, sandwiches, pizza, noodles, spaghetti, pasta, dumplings, sushi and burritos. Some breweries that have been set are Coffee, strawberry shake, orange juice, banana shake, kiwi juice, apple mojito and so on. Most importantly, this particular food item has been chosen especially keeping in mind the choices and tastes of vegan or vegetarian people around the city. The central concept here is to provide the customers with a flavour or fragrance of non-veg food items made up of vegetables and fruits and some preservatives, providing it with an excellent chance for vegan or vegetarianism non-veg (Duc Pham et al., 2019). One of the essential factors that have been taken into consideration by the organization is to provide food which is healthy for everyone cooking with less oil, utilizing items with continuous fat and providing them healthy and hygienic food items. Even for the drinks and beverages, no milk byproducts of products will be utilized here, but vegan milk, which is soya milk, will be used thinking of the vegan people. No animal-based products like cheese, meat, milk, or byproducts will be involved.
Being a New organization in the market, Royal-based organizations at the very beginning of their services may not have the targeted number of customers coming to the stores. Therefore, this minimum quantity of food will be utilized in the beginning. That is, food will be prepared for A total of 15 to 20 people that is the preparation of products like chopped vegetables and other things. However, things will be kept if people more than that arrive within the organisation, then they will be served.
To maintain the quality of the product that will be provided to the customers, the best product will be selected for them, and the quality of the product will always be maintained (Pattnaik et al., 2021). Fresh products will be used daily so customers can get the best. Services will be done within the organization, and online services will be provided with the help of various applications like Uber eats.
The organization has selected not a vast menu. Therefore the pricing related to the products and drinks that the organization has chosen will be budget-friendly that can be enjoyed by both his going people and students. The pricing range of the product has been selected as $20-$75 for the food items, and for beverages, it is $10-$25. However, the price may change with the increase in profitability and customer base (Hu et al., 2019).
The monthly budget of the organization has been decided as $300-$700. This budget has been created roughly focusing on the price of the required products and the cost required for making the products.
It has been identified that the organization will be utilizing a Dynamic pricing strategy because it is currently new in the market. To beat its competitors, it is crucial to utilize something that will help them attract customers to the organization. This particular pricing strategy focuses on the demand related to a product. Therefore, the organization will focus on constantly changing the price of its products and demands within the market; it may increase or decrease (Bhatta et al., 2020). From a lot of research, it has been identified that an organization which provides their customers with a cheap or cost-friendly product and maintains its quality too, then even if the price of the product is increased, people will still come to the organization to get their products because of the quality and consistency provided by them towards their customers.
Sales promotion is an essential aspect for a news organization like Royal-based. Sales from motion can help the organization create enthusiasm and loyalty for their brand, increase their revenue and gain valuable insights related to pricing sensitivity and customer behaviour. For this particular, the organization will be utilizing free demos or trials where people can come and try the food items provided by the organization. If they like, they can buy (Xu et al., 2021). Another thing is that they will be providing discounts to their customers if they are coming for the first time and this offer will be valid till the third visit.
The service sequence related to the customers arriving at the organization is first to greet them and ask them whether they want to have their food right in the organization or need a Takeaway (Castro-Muñoz et al., 2020). Afterwards, they will be seated in their seats or taken into the Takeaway section. At this stage, the orders will be taken, and then the food items will be prepared, after which they will be either served or provided with the packed food for their takeaway.
Employees working within the organization will be provided with a few pieces of training that will help them increase the quality of food they will provide to their customers and increase their awareness and ideas about the food items. Even they will be given training about how to behave and communicate with the customers and how they should serve the food items to each one of them (Munekata et al., 2021). The first training will be provided to them, and then they will be asked to join the organization. After that, a few sessions of training may also take place.
Customer service is the organisation's priority; therefore, they will be given much attention. In order to provide their customers with excellent customer services, it has been identified that they will be provided with their services 24×7 all day long with their online services and to build a proper relationship with them. Their feedback will be taken to improve the product in a better way. Even social media handles will be utilized to communicate with the customers.
Most importantly, the organization follows a B2C business model that is business to customers. The reason for choosing this particular model is that the purchasing procedure or decision-making process is much more minor than our business-to-business purchases, mainly focusing on items with a lower value (Blanco-Gutiérrez et al., 2020). This particular technique is going to be providing the organization with a lot of unique ways that they can utilize to treat their customers in a better way.
The prices associated with insufficient food safety are economical and social and may impact the consumers and company. It may calculate the performance of the catering procedure by bringing out an audit of the documentation, methods, and techniques that happen during the provision, storage, practice, cooking, and helping of several products. The food safety department has provided some guidelines for food safety which are essential for the Royal-Based organization like; food poisoning, loss of productivity, food spoilage, food contamination, pest infestation, prosecution for contravention of food safety legislation, and others. Furthermore, Food Safety Act 1990 states that any food organization follows the food safety regulation due to public health awareness ((Nagabhairava et al., 2018).
Similarly, the Food Information Regulations 2014 deliver elements on the details which need to provide to customers and how the data must be offered. It also ensures the 14 importance or outcomes that generate allergies or discrimination. The Royal-Based company should comprise a test of the following areas like cleaning, management of food safety, temperature control, personal hygiene, equipment, and others. The concept of a Plant-Based food company to assume a food safety audit is a current, separate company with no relations to any other organization; They need to assure the audit effects are neutral and are not operated to deal with other services. The UK conducts dependent compliance organizations specializing in workplace fitness, security, and atmosphere solutions.
The supremacy of the Royal-Based food organization is launching Plant-Based organic food and beverage products in the UK market. The unique product, sales promotion brand equality can help to identify the Royal-Based food organization that is a new entrance into the UK market.
Bhatta, S., Stevanovic Janezic, T. and Ratti, C., (2020). Freeze-drying of plant-based foods. Foods, 9(1), p.87.
Blanco-Gutiérrez, I., Varela-Ortega, C. and Manners, R., (2020). Evaluating animal-based foods and plant-based alternatives using multi-criteria and SWOT analyses. International journal of environmental research and public health, 17(21), p.7969.
Castro-Muñoz, R., Boczkaj, G., Gontarek, E., Cassano, A. and Fíla, V., (2020). Membrane technologies assisting plant-based and agro-food by-products processing: A comprehensive review. Trends in Food Science & Technology, 95, pp.219-232.
Duc Pham, N., Khan, M.I.H., Joardder, M.U.H., Rahman, M.M., Mahiuddin, M., Abesinghe, A.N. and Karim, M.A., (2019). Quality of plant-based food materials and its prediction during intermittent drying. Critical reviews in food science and nutrition, 59(8), pp.1197-1211.
Heredia-Leza, G.L., Martínez, L.M. and Chuck-Hernandez, C., (2022). Impact of Hydrolysis, Acetylation or Succinylation on Functional Properties of Plant-Based Proteins: Patents, Regulations, and Future Trends. Processes, 10(2), p.283.
Hu, F.B., Otis, B.O. and McCarthy, G., (2019). Can plant-based meat alternatives be part of a healthy and sustainable diet?. Jama, 322(16), pp.1547-1548.
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Nagabhairava, A., Kothari, D., Reddy, K. and Bloom, M., (2018). Turnaround of Dean Foods.
Pattnaik, M., Pandey, P., Martin, G.J., Mishra, H.N. and Ashokkumar, M., (2021). Innovative technologies for extraction and microencapsulation of bioactives from plant-based food waste and their applications in functional food development. Foods, 10(2), p.279.
Pedersen, A.A. and Kallåk, K.L., (2020). New Product Development based on Environmental Sustainability (Master's thesis, NTNU).
Plant-Based Foods Association, (2022). Consumer Insights - Plant-Based Foods Association. [online] Plant-Based Foods Association. Available at: <https://www.plantbasedfoods.org/marketplace/consumer-insights/> [Accessed 24 June 2022].
Xu, X., Sharma, P., Shu, S., Lin, T.S., Ciais, P., Tubiello, F.N., Smith, P., Campbell, N. and Jain, A.K., (2021). Global greenhouse gas emissions from animal-based foods are twice those of plant-based foods. Nature Food, 2(9), pp.724-732.
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