NMO S4 SPRINT ONE | BUSINESS CASE SCENARIO - 03
Submission BCS
Market Development and Branding Strategy for International Expansion of Ramalingam Foods
Submission Date & Time: 2021-11-21 03:26:22
Event Name: NMO S4 Sprint One - IIM Visakhapatnam
Solution Submitted By: Sharvari Shirke
Assignment Taken
Marketing DepartmentCase Understanding
Ramalingam which was found in 1965 was known for its authentic south Indian freshly cooked meals and filter coffee. Ramalingam Foods began selling Idli-dosa batter and packets of authentic south Indian chutneys. These creative ideas kept them afloat during the emergency, and it eventually became their major business since people found it convenient to carry these batter and chutney packets home from work and enjoy the delicacies in the comfort of their own homes. Mr Vijay Ramalingam (son of Mr Venkatesh Ramalingam) took over the business in 1990 whose intention is to expand the company with some new age business ideas. The Idli-dosa batter has a short shelf life and is perishable, shipping would be difficult, so they came up with the idea of making powdered Idli-dosa batter. The new product was an immediate success. They have diversified products in their portfolio. Company’s management have noticed that some people buy their instant mixes in India and then sell them in foreign nations via their businesses, mainly in the Middle East, Southeast Asia, and England. These shopkeepers are usually people of Indian descent who have resided in those nations. During their visits to India, they/their known people buy significant quantities of products and send them to their respective countries. In these countries, some eateries have begun to use these fast mixes. Mr Vijay has no prior expertise in foreign business; nonetheless, they have recruited our firm as a business consultant for worldwide market expansion and put aside a budget of INR 50 crore for FY 2019-20. During our conversation with them we also got to know that Ramalingam Foods lacked the requisite rights and licences for international operations. They don't have the finance or commercial ability to join more than one foreign market at a time, so they're looking for a strategy for international expansion to a region that has the greatest potential and which can generate higher profits for the company and can also stop the selling of products by other individuals in those regions.BCS Solution Summary
As Ramalingam Foods seeks to expand, we have targeted the Middle East, with nations such as the UAE (Dubai, Abu-Dhabi, Sharjah, Umm-Al-Quwain, Ajman, Ras-Al-Khaimah, Fujairah), Kuwait, Qatar, and Bahrain on our list. This international expansion necessitates the a marketing strategy and new rebranding to cater to the needs of both Indians and non-Indians in these Middle East countries. Indian customers are familiar with dosa, idli, and the likes. With the view of capturing the market segment having limited awareness of these items and having known that healthier snacks and food items are in a boom in that geography, we have decided to rebrand dosa/idli batter as a healthier meal option in the ready-mix food category. Considering the concentrated nature of the retail market, aggressive marketing and sales initiatives for the first 3 months to develop a good market share become essential.Solution
4 Ps of Marketing:
1. Product: Powdered form of batter for select Indian food items
Features: Easy-to-make, a healthier and high quality food option, time-saving
2. Place: Supermarkets, Hypermarkets, retail centres and bakeries, etc
3. Price: Same as in India
4. Promotion: Free samples on streets, trial samples in malls/hypermarkets, online advertisements
Tagline: Healthy and time-saving ready-to-use food mixes for all health-conscious but occupied individuals.
Conclusion
Overall, marketing and sales efforts are going to play a pivotal role in this international expansion. Rebranding and aggressive online marketing combined with sales efforts, Ramalingan Foods can grab a considerable market share in its first year of expansion and focus on distributor/retailer relationships thereafter, to keep the sales going and grow year by year.Attached File Details
Video
https://www.youtube.com/watch?v=3LKD0HkM2tAComments
Article Type: Business Case Scenario, Case Study Solution Submission
Business Case Detail
Title: NMO S4 SPRINT ONE | BUSINESS CASE SCENARIO - 03
Type: Case Study
Stream: Management
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