NMO S4 SPRINT ONE | BUSINESS CASE SCENARIO - 03
Submission BCS
Ramalingam Foods in the UK Different Home, Same Homely Taste
Submission Date & Time: 2021-11-21 12:29:22
Event Name: NMO S4 Sprint One
Solution Submitted By: Aditya Teja Bhimavarapu
Assignment Taken
Develop an International Market expansion plan.Case Understanding
People are buying and selling Ramalingam Foods Products in foreign markets at a higher margin is of concern to the company and wants to expand its market to one new region outside India. Since Mr Vijay is unfamiliar with International Expansion, a simple yet effective implementation plan has to be laid out. There must exist a market for Ready-to-Eat foods in the given country and must be financially feasible within the allocated budget.BCS Solution Summary
International Market Expansion Plan: The United Kingdom is chosen for market expansion of Ramalingam foods due to: There exists a huge market potential The growing market for packed foods in Europe (Refer Image:- food attitudes.png) A huge population of Indians in the UK. (Refer Image:- Indians in UK.png) High work hours, leading to a demand for ready to cook food. For the ease of doing business as the UK ranks 8 in the world for the ease of doing business. This is especially important as Mr Vijay is new to International Expansion. (Source: https://www.doingbusiness.org/en/rankings). Hofstede’s cultural dimensions imply that people in the UK embrace Individualism and Human Touch that we can provide using Ready-to-Cook products. (Refer Image: Hofstedes Dimensions.jpeg) Implementation: (Following Market Development in Ansoff’s Matrix) Hiring Exports team and E-Commerce Sales team for the UK. We will file for Trademark for our brand logo and Non Disclosure Agreements for protecting our trade secret formulas. Launch of Pilot Program, which we will use to test our products in the new market and accumulate consumer feedback. Sales medium will be strictly limited to E-Commerce platforms eliminating the cost of the operations in that location. After 3 months of testing: Launching specific products in the UK after considering consumer feedback. Partnering with Retail Stores and Mom & Pop stores to expand in the market.Solution
International Market Expansion Plan:
The United Kingdom is chosen for market expansion of Ramalingam foods due to:
-
There exists a huge market potential
-
The growing market for packed foods in Europe (Refer Image:- food attitudes.png)
-
A huge population of Indians in the UK. (Refer Image:- Indians in UK.png)
-
High work hours, leading to a demand for ready to cook food.
-
-
For the ease of doing business as the UK ranks 8 in the world for the ease of doing business. This is especially important as Mr Vijay is new to International Expansion. (Source: https://www.doingbusiness.org/en/rankings).
-
Hofstede’s cultural dimensions imply that people in the UK embrace Individualism and Human Touch that we can provide using Ready-to-Cook products. (Refer Image: Hofstedes Dimensions.jpeg)
Implementation:
(Following Market Development in Ansoff’s Matrix)
-
Hiring Exports team and E-Commerce Sales team for the UK. We will file for Trademark for our brand logo and Non Disclosure Agreements for protecting our trade secret formulas.
-
Launch of Pilot Program, which we will use to test our products in the new market and accumulate consumer feedback. Sales medium will be strictly limited to E-Commerce platforms eliminating the cost of the operations in that location.
-
After 3 months of testing: Launching specific products in the UK after considering consumer feedback.
-
Partnering with Retail Stores and Mom & Pop stores to expand in the market.
Conclusion
The United Kingdom is selected for Market Expansion owing to its ease of doing business, growing market for products like ours. The implementation should be phased to eliminate risk by reducing high upfront and operational costs. A Pivot project will be launched on E-Commerce sites in the UK to understand the market and gather feedback. Refining the product according to the feedback, a full roll-out in wider geographical areas in the UK will be initiated along with collaboration with retail stores.Attached File Details
View Attachment file (food attitudes.png)Video
https://www.youtube.com/watch?v=z6WUhtRVP2wComments
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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