The business will concentrate in making a hot sauce. Hot sauce can be used to serve both savoury dishes as well as deserts. It is served alongside other dishes and will be able to add flavor, moisture and visual appeal. Hot sauce product will be marketed in the United States of America’s Texas state. The target market, Texas State, is located to the north of Mexico City. Texas State borders Mexico to the southwest. Texas is the second populous U.S state. Its population has been growing at a faster rate and is becoming older, less rural and more diverse.
The product is differentiated from that of competitors. It will be prepared cold and served lukewarm. Basically, the product will be more of flavor than intense heat. It will be labeled, packaged and well branded for ease of identification.
Advantages and benefits of the product
The product is cheaper when compared to other products but of high quality. Our product acts as an appetite suppressant and thus consumers will find it helpful as part of their meals to reduce the calories ingested during meals. It will help consumers manage depression. A substance called endorphins produced as a result of its consumption relieves depression. Lastly, it increases the metabolic rate as its ingredients helps stimulate stomach secretions that aid digestion.
Reasons why the consumers would purchase the product
As opposed to competitors’ products, the customers will be handled in a professional and competent way due to our competent staff responsible for good customer care. This is not offered by competitor products. Besides, the suppressant ingredient will attract more customers to have it as part of their meal. Our product will offer value for customers’ money. High product quality at an affordable price and superb customer retention management strategies guarantee purchase. The product besides will be conveniently marketed with convenient marketing mix. Good customer relationships guarantees re-purchase.
Combs, S. Texas in Focus: A Statewide View of Opportunities. Retrieved at http://www.window.state.tx.us/specialrpt/tif/population.html
Health Benefits of Hot Sauce. (2010). Retrieved at http://hotsauceaddict.com/health-benefits-of-hot-sauce/
Jerry J. (1999). Anatomy of a Business Plan. Dearborn Trade.
Peterson, J. (1998). Sauces. John Wiley & Sons.