An overview of ready to eat MTR food products

By, Group no.-7 Supriya chatterji & Mohammed saif khan

IMPROVE THE

ACCEPTANCE OF THE PRODUCT

The complexities of urban life have greatly encouraged the emergence of the class of foods called READY TO EAT and READY TO COOK. From a virtually non existent category to an approximately Rs.4500 cr-Rs.5000cr industry by 2009 .The growth is expected to accelerate the ready to eat food market in india is clearly on the growth trajectory going by 23% growth annually.One big challenge for these firms is quality.They need to meet the global standards to increase indias share in world trade.Other things that they need to take care of is the effective distribution networks. Reasons for market penetration: Global Indian NRIs-Indians look for traditional home cuisine abroad Migrant working population-Need for On-the-go products ,convenience is the top priority. Urban lifestyle-Busy schedule,less time.western influence More income-Improved standard of living,dual income They should focus on the following consumer preferences1.Choosy and the old-who look out for products which are Good for health Natural ingredients Easy to digest Less on spices and additives

2.Price conscious who look out for Value for money Smaller packaging Long storage life No loss of flavor.

3.Busy and young who look out for Tasty Variety of flavor Trendy packaging

Quick preparation

Consumer Segment consists of two type of homemakers 1st type- Indulgent 7%- Marketers target this homemakers growing segment i.e. Metro Married Women La 60% try Branded or Packaged foods . Spends Rs. 10K pm on grocery 2nd type-Conservative Homemakers-Sensitive towards price and health. Reluctant to try out packaged foods . Spends near about 5 k pm on grocery. Thus ,if we provide the following strategies the ready to eat foods acceptance is largely wide opened amongst those 93% individuals. Extensive local advertisements. Convenient pricing Quick ,affordable and healthy food alternatives No compromise on taste or quality. Health info or nutrient info to be displayed on the packaging Promotion or free trials Target the diet conscious less cholesterol or calories.

Strengthen your regional base

Strategies to be implemented

By using catchy hindi punch lines like: Taste bhi sehat bhi: - to target old consumer Food with easily digestible base like Atta, vegetable extract, coarse cereals Flavor like mint, spinach, mix vegetable which symbolize the health Decent packing with highlighting the additional nutrients Other than traditional advertising Promotional stalls nearby temples, community gathering centers with initial free trial packs Fun filled food:- to target young consumer Exciting and new flavors:- cheese, spicy, Italian etc. New products and variants :- soupy noodles, pasta Attractive and colorful packing Test trials at shopping centers ,small gift or toy on each packing Sasta bhi accha bhi:- to target economy class Basic product with no additional features Smaller packs of previous two categories Competitive or less price then rival products Decent quality Better margin to the retailers By all these strategies the word of mouth advertising can be increased.

Traditional Indian food mix(if possible then regional) like Dhokla for Gujrat, vada for Maharashtra,idli sambher for southern states Penetration pricing strategy is needed, as there is cut throat competition in the market.

Launch your new productBreakfast Market Has drastically increased in INDIA due to the change in lifestyle and more no. of working population so they prefer to have convenient meal as their breakfast rather than skipping their breakfast. For example they can come up with upma mix, poha mix, porridges or oats.

They should cater to the needs of both health conscious and non health conscious customers. by providing certain varieties of chips etc for first category and sugar free packaged sweets for the health conscious. They can even come up with samosas,biryani mix,pakodas etc.