NMO S4 SPRINT ONE | BUSINESS CASE SCENARIO - 03
Submission BCS
International expansion solutions of Ramalingam Foods by KLS Consultants​
Submission Date & Time: 2021-11-24 09:02:43
Event Name: NMO S4 Sprint One - IIM Visakhapatnam
Solution Submitted By: SUCHARIA MONDAL
Assignment Taken
Develop a marketing strategy to tap into a fast expanding market.Case Understanding
Ramalingam Foods was started by Mr. Ramalingam Venkatesh in South Bombay in 1965. It was a famous successful fast-food restaurant famous for their authentic south Indian freshly cooked food and filter coffee. In 1975, due to some political turmoil and strict rules that were implemented, food items had to be sold for bare minimum price. Ramalingam foods then had to come up with innovative solutions to sustain their business in such difficult times. ​ The company started selling Dosa-Idli batter and packets of South Indian chutneys at a very low cost still making a good margin. This was their innovative way to sustain themselves in the emergency times. Later, this became their main business as many people found it convenient to carry these batter and chutney packets while going home from work and enjoy the delicacies at their homes. ​ In the year 1990, Mr. Vijay Ramalingam (son of the founder) started to look after the business. He wanted to grow his business by expanding their territory. But wet Idli-Dosa batter has a very minimum shelf life (5 days) and as it was a perishable item, transportation was also difficult. Thus, he came up with the idea of Idli-Dosa batter in a powder form (shelf life of 10 months). The new product was an instant hit. Business grew to all over the country selling varied products. Their portfolio included: Instant Dosa Mix, Instant Idli Mix, Instant Gulab Jamun Mix, Instant Laddu Mix, Instant coffee powder, Instant Dhokla Mix and other products of this kind. Currently, most products are available in 3 varieties of packaging: 200 gms, 500 gms and 1000 gms. ​ Some people are purchasing domestically and selling it abroad through shops mainly in Middle east, Southeast Asian countries and England. These shopkeepers are generally of Indian origin settles in those countries. When they visit India, they are purchasing in large quantities and are shipping it to their respective countries. Some restaurants also started using instant mixes in these countries. ​ Current Operating revenues of the company is Rs. 152 crores for the FY 2019. EBITDA has increased by 3.16% over the previous year. The book net worth has increased by 20%. ​ The company is planning for an international market expansion to one foreign region initially. They set aside INR 50 crore for International Business expansion for the FY 2020. The company currently does not have any necessary permissions and Licenses for International business. ​ ​BCS Solution Summary
Market Strategy-The product should have enough shelf space and traction among customers in the retail outlets in its target markets, according to the marketing plan. This is accomplished through strategic connections with supply chain partners, retailers, and customers, as well as the proper positioning and promotion of items. ​Solution
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Market Strategy-The product should have enough shelf space and traction among customers in the retail outlets in its target markets, according to the marketing plan. This is accomplished through strategic connections with supply chain partners, retailers, and customers, as well as the proper positioning and promotion of items. ​
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Aim- Ramalingam Foods aspires to expand into new worldwide areas where it has the potential to become the market leader by providing ready-to-cook Indian cuisine items to the local Indian population.​
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Objectives- ​
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In order to enhance shelf space and brand recognition in international markets, the following goals were set.​
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Strengthen your home market presence by offering new items and promoting them to the relevant people.​
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Within one year of entering a new market, achieve a 10% market share.​
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To enter the appropriate markets in order to expand the company's international reach.​
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STPSEGMENTATION​
People of Indian origin are a segment of interest since the product offerings are from Indian cuisine. Demographic segmentation: Race and culture- People of Indian origin are a sector of interest because the product offerings are from Indian cuisine. ​
People between the ages of 25 and 40 are in this age group. These Millennials are more likely to travel for educational, professional, or leisure interests. ​
User status Behavioural segmentation- The following people should be targeted based on their usage levels: Non-users ​
TARGETING​
The target markets considered for entry are those with a significant Indian population. This group could be members of the Indian diaspora or people who have recently relocated to the area for job or education. The markets chosen are in South-East Asia, where each of the countries has a substantial population.​
POSITIONING​
"The creator of healthful, ready-to-cook meals that takes only five minutes to prepare," the company will be positioned. "The products made by Ramalingam Foods are recommended by nine out of ten dieticians."​
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Conclusion
Ramalingam Foods developed a marketing strategy to assist the company's aim to expand into additional rapidly growing markets. ​ Finding the proper supply chain partner and marketing the goods to the right people in the right places are critical. ​ Because the product is new to the market, a high level of consumer satisfaction is critical. Because positive word of mouth within the target audience has a long-term impact on the company's chances in that new market, this is the case.​Attached File Details
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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
Indian Institute of Management Visakhapatnam
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