Marketing Plan for NISSIN FOODS

1752 words (7 pages) Essay

1st Jan 1970 Marketing Reference this

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As we all know, NISSIN Foods is the first company in the world to make instant noodles and the oldest and largest manufacturer of instant food in Japan.. But, time flies and everything has changed. Since the market of instant noodles has changed a lot, NISSIN is facing some challenges. Thus, NISSIN Foods have to change their marketing strategy if they want to maintain their success. In this essay, I will focus on the instant noodles strategy for NISSIN Foods in the next five years.

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Background

NISSIN was established in 1958. It established their most popular brand “Demae Ramen” and manufactured the world’s first cup noodle. NISSIN is the largest manufacturer of instant noodles in Hong Kong.. The confidence the brand gives to its customers can be reflected in its market share. The primary financial objectives are to establishing a new image and increase the profit within 5 years.

Current Market

Nowadays, there are more and more competitors in the instant noodles market. It means that NISSIN is facing a keen competition. But, NISSIN instant noodles are still one of the most favor foods in the supermarket. Recently, there are many report show that most of the instant noodles contain the quantity of fat and sodium beyond the restriction. It will increase the risk of having disease such as heart disease and cancer. Also, some expert point out that eating non fried instant noodles is healthier than eating fried instant noodles. So, the number of customer would probably decrease because of this report. A new marketing strategy is necessary for NISSIN to establish a new image.

Target market

NISSIN target a lot of groups to be their profitable customers. To begin with the geographic, NISSIN Foods’ target market should be at Hong Kong as majority of Hong Kong People are very busy such as business man. Instant noodles are their favorite because instant noodles can help them save time effectively. About the age, NISSIN Foods’ target customers are teenagers such as university student living in hostel. Most of them like instant noodles because of its convenience. About the economic factor, NISSIN Food’s target market should be low income group as instant noodles can help them save money. They just pay few dollars, and then they can have a lunch or dinner. In short, NISSIN Food’s target markets are low income group and busy people.

Product review

NISSIN sells a wide range of products and satisfy different customers’ demands. NISSIN customers need a convenient and inexpensive dinner or lunch. Instant noodles can help them. Most of the customers expect that the perfect Instant noodles are not only can bring them convenience, but also a delicious food. So, NISSIN has many standard features foods such as tasty, convenience, fast and cheap.

Competitive review

There are many competitors in the instant noodles market including FOURSEA, SAUTAO, DOLL and NONGSHIM. All of these competitors are the threat for the NISSIN.

For FOURSEA and DOLL, they would not be a serious threat for NISSIN. Their products are similar to NISSIN. But, the trusted image of NISSIN is an advantage for NISSIN compared with them. So, they can not threaten the status of NISSIN.

For, Korea noodles called SHIN RAM YUN is one of the NONGSHIM’s products that many Hong Kong people like to eat. Besides, SAUTAO is another manufacture of instant noodles. A non fried instant noodle is one of the SAUTAO products. Non fried instant noodles are healthier for customers according to the opinion of experts. Nowadays, NONGSHIM and SAUTAO are the strong competitors to NISSIN as more and more people like to eat Korea food and pay attention to health.

Distribution place review

The products of NISSIN are distributed intensively through different ways like convenience stores, grocery shops, vending machine and supermarket such as Parknshop and 7-eleven. In other word, customers can buy NISSIN products in everywhere and every time. The relationship between the distribution place and the sales volume is very close.

SWOT Analysis

Strength

NISSIN is the first company in the world to make instant noodles which has 52 years experience in producing instant noodles and its trusted image has been deeply-rooted all over the world because of its quality products. Thus, there are a number of loyalty customers for NISSIN. Nowadays, instant noodles are nearly a necessary for every family. So, we can observe that when many households go to supermarket, instant noodles must be one of the items that they would buy. So, it is a guarantee of the sales volume of NISSIN because of its trusted image and the excellent product.

Weakness

Weak strategic planning would be the weakness of NISSIN. Nowadays, more and more people are becoming healthier conscious. When they choose food to eat, they would like to take health into consideration. So, they may have negative attitude towards instant noodles because of recent reports. SAUTAO is the one manufacturer producing non fried instant noodles which can cater different customers’ need. There are no non fried instant noodles produced by NISSIN in the market. So, there are some customers that NISSIN did not target. The management of NISSIN does not change the marketing plan. So, although the sales volume of NISSIN is flatten in recent years, it would not have a new breakthrough. Weak strategic planning is the main reason.

Opportunities

Nowadays, there are more and more people are paying more attention to the health in Hong Kong. So, it is an opportunity for NISSIN to establish non fried instant noodles. As I mentioned before, non fried instant noodles can cater different customers’ need. According to the market, SAUTAO is the only one that produces non fried instant noodles. If NISSIN also establish non fried instant noodles, NISSIN can target one more market, gain more money and market shares because of the trusted image of NISSIN and new products.

Threat

Recently, there are many reports show that most of the instant noodles’ the quantity contained of fat and sodium are beyond the restriction. Apart from this, some health experts point out that eating instant noodles would lead to a lot of disease such as heart disease, cancer, etc. it would bring a negative image to the instant noodles. To psychology, some of the customers would not want to eat instant noodles. Besides, many parties are paying attention to the bad effect of instant noodles. It is probably that there are more restrictions enacted by government for manufacturer of instant noodles. It could increase the cost of production.

Objectives and Issues

The marketing objective is to increase the market share and increase the profit. NISSIN should establish the new image and new product to the market in order to achieve the marketing purpose.

Marketing Strategy

Establishing a new product

NISSIN should have product development according to the market changes. Health is the one important issue which should focus on. So, NISSIN should develop healthier instant noodles. Before the success of the product development, NISSIN can establish non fried instant noodles. Non fried instant noodles should be more attractive than before because of the study of expert. Thus, there is a new target market that NISSIN can participate in. Based on the trusted image, NISSIN can participate in the new target market easily.

Promotion strategy

NISSIN should establish a new instant noodles’ image of NISSIN. Many people may have negative attitude towards instant noodles because of the recent report. Firstly, NISSIN should prove that its products conform to the standard. Then, promotions are needed for NISSIN to tell everyone about that such as advertisements on TV, Internet Platform, newspaper, etc. Also, NISSIN can find a pop star who like sport and have positive image such as YAO MING, to be spokesman. In addition, NISSIN should constantly sponsor sport events such as NBA. It can reduce the gap between health and instant noodles and make more people know about the new product.

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In order to enhance the promotion, NISSIN can set a booth for customers to try the new product in the supermarket such as JUSCO. Lastly, NISSIN can cooperate with television station to organize a programme. In the programme, they can invite popular guest who is an expert at eating such as So Sze Wong(蘇æ-½é»ƒ). They can talk about how to cook tasty instant noodles or how to eat instant noodles healthily in the programme. It can help NISSIN establish a new Image.

Price strategy

NISSIN establish non fried instant noodles, so the pricing strategy should match up with the new product. The price of new product should be lower. It can draw the customers’ attention and encourage them to try. Besides, NISSIN can provide a special offer. For example, if customers buy 1 pack instant noodles, they can get one new product for free. Apart from new product, NISSIN can maintain the price setting of other product. It can attract the low income group.

Distribution strategy

For selling place, the current distributing points of NISSIN are already good enough as the retailing shops are convenience for customers. It can increase the sales volume because of the convenient distribution points.

Marketing Research

Lastly, it is very important that NISSIN should do marketing researches to get the evaluation of the exiting marketing trend. Marketing research is necessary to determine the strength of the company in the industry. The company can have a deeper understanding of the preference of customers and the customers’ feedback. It is useful for NISSIN to do the evaluation. It is compulsory for NISSIN to take marketing research so that it can gain accurate statistics of marketing and help it to employ the correct marking plan.

To conclude, NISSIN is a well know manufacturer of instant noodles with a trusted image. Nowadays, there is a keen competition in the instant noodles market. Besides, there are some reports and experts point out that the bad effect of eating instant food. Thus, it is time for NISSIN to have some changes. NISSIN should establish a new image and new products in order to gain more profit and market shares.

As we all know, NISSIN Foods is the first company in the world to make instant noodles and the oldest and largest manufacturer of instant food in Japan.. But, time flies and everything has changed. Since the market of instant noodles has changed a lot, NISSIN is facing some challenges. Thus, NISSIN Foods have to change their marketing strategy if they want to maintain their success. In this essay, I will focus on the instant noodles strategy for NISSIN Foods in the next five years.

Background

NISSIN was established in 1958. It established their most popular brand “Demae Ramen” and manufactured the world’s first cup noodle. NISSIN is the largest manufacturer of instant noodles in Hong Kong.. The confidence the brand gives to its customers can be reflected in its market share. The primary financial objectives are to establishing a new image and increase the profit within 5 years.

Current Market

Nowadays, there are more and more competitors in the instant noodles market. It means that NISSIN is facing a keen competition. But, NISSIN instant noodles are still one of the most favor foods in the supermarket. Recently, there are many report show that most of the instant noodles contain the quantity of fat and sodium beyond the restriction. It will increase the risk of having disease such as heart disease and cancer. Also, some expert point out that eating non fried instant noodles is healthier than eating fried instant noodles. So, the number of customer would probably decrease because of this report. A new marketing strategy is necessary for NISSIN to establish a new image.

Target market

NISSIN target a lot of groups to be their profitable customers. To begin with the geographic, NISSIN Foods’ target market should be at Hong Kong as majority of Hong Kong People are very busy such as business man. Instant noodles are their favorite because instant noodles can help them save time effectively. About the age, NISSIN Foods’ target customers are teenagers such as university student living in hostel. Most of them like instant noodles because of its convenience. About the economic factor, NISSIN Food’s target market should be low income group as instant noodles can help them save money. They just pay few dollars, and then they can have a lunch or dinner. In short, NISSIN Food’s target markets are low income group and busy people.

Product review

NISSIN sells a wide range of products and satisfy different customers’ demands. NISSIN customers need a convenient and inexpensive dinner or lunch. Instant noodles can help them. Most of the customers expect that the perfect Instant noodles are not only can bring them convenience, but also a delicious food. So, NISSIN has many standard features foods such as tasty, convenience, fast and cheap.

Competitive review

There are many competitors in the instant noodles market including FOURSEA, SAUTAO, DOLL and NONGSHIM. All of these competitors are the threat for the NISSIN.

For FOURSEA and DOLL, they would not be a serious threat for NISSIN. Their products are similar to NISSIN. But, the trusted image of NISSIN is an advantage for NISSIN compared with them. So, they can not threaten the status of NISSIN.

For, Korea noodles called SHIN RAM YUN is one of the NONGSHIM’s products that many Hong Kong people like to eat. Besides, SAUTAO is another manufacture of instant noodles. A non fried instant noodle is one of the SAUTAO products. Non fried instant noodles are healthier for customers according to the opinion of experts. Nowadays, NONGSHIM and SAUTAO are the strong competitors to NISSIN as more and more people like to eat Korea food and pay attention to health.

Distribution place review

The products of NISSIN are distributed intensively through different ways like convenience stores, grocery shops, vending machine and supermarket such as Parknshop and 7-eleven. In other word, customers can buy NISSIN products in everywhere and every time. The relationship between the distribution place and the sales volume is very close.

SWOT Analysis

Strength

NISSIN is the first company in the world to make instant noodles which has 52 years experience in producing instant noodles and its trusted image has been deeply-rooted all over the world because of its quality products. Thus, there are a number of loyalty customers for NISSIN. Nowadays, instant noodles are nearly a necessary for every family. So, we can observe that when many households go to supermarket, instant noodles must be one of the items that they would buy. So, it is a guarantee of the sales volume of NISSIN because of its trusted image and the excellent product.

Weakness

Weak strategic planning would be the weakness of NISSIN. Nowadays, more and more people are becoming healthier conscious. When they choose food to eat, they would like to take health into consideration. So, they may have negative attitude towards instant noodles because of recent reports. SAUTAO is the one manufacturer producing non fried instant noodles which can cater different customers’ need. There are no non fried instant noodles produced by NISSIN in the market. So, there are some customers that NISSIN did not target. The management of NISSIN does not change the marketing plan. So, although the sales volume of NISSIN is flatten in recent years, it would not have a new breakthrough. Weak strategic planning is the main reason.

Opportunities

Nowadays, there are more and more people are paying more attention to the health in Hong Kong. So, it is an opportunity for NISSIN to establish non fried instant noodles. As I mentioned before, non fried instant noodles can cater different customers’ need. According to the market, SAUTAO is the only one that produces non fried instant noodles. If NISSIN also establish non fried instant noodles, NISSIN can target one more market, gain more money and market shares because of the trusted image of NISSIN and new products.

Threat

Recently, there are many reports show that most of the instant noodles’ the quantity contained of fat and sodium are beyond the restriction. Apart from this, some health experts point out that eating instant noodles would lead to a lot of disease such as heart disease, cancer, etc. it would bring a negative image to the instant noodles. To psychology, some of the customers would not want to eat instant noodles. Besides, many parties are paying attention to the bad effect of instant noodles. It is probably that there are more restrictions enacted by government for manufacturer of instant noodles. It could increase the cost of production.

Objectives and Issues

The marketing objective is to increase the market share and increase the profit. NISSIN should establish the new image and new product to the market in order to achieve the marketing purpose.

Marketing Strategy

Establishing a new product

NISSIN should have product development according to the market changes. Health is the one important issue which should focus on. So, NISSIN should develop healthier instant noodles. Before the success of the product development, NISSIN can establish non fried instant noodles. Non fried instant noodles should be more attractive than before because of the study of expert. Thus, there is a new target market that NISSIN can participate in. Based on the trusted image, NISSIN can participate in the new target market easily.

Promotion strategy

NISSIN should establish a new instant noodles’ image of NISSIN. Many people may have negative attitude towards instant noodles because of the recent report. Firstly, NISSIN should prove that its products conform to the standard. Then, promotions are needed for NISSIN to tell everyone about that such as advertisements on TV, Internet Platform, newspaper, etc. Also, NISSIN can find a pop star who like sport and have positive image such as YAO MING, to be spokesman. In addition, NISSIN should constantly sponsor sport events such as NBA. It can reduce the gap between health and instant noodles and make more people know about the new product.

In order to enhance the promotion, NISSIN can set a booth for customers to try the new product in the supermarket such as JUSCO. Lastly, NISSIN can cooperate with television station to organize a programme. In the programme, they can invite popular guest who is an expert at eating such as So Sze Wong(蘇æ-½é»ƒ). They can talk about how to cook tasty instant noodles or how to eat instant noodles healthily in the programme. It can help NISSIN establish a new Image.

Price strategy

NISSIN establish non fried instant noodles, so the pricing strategy should match up with the new product. The price of new product should be lower. It can draw the customers’ attention and encourage them to try. Besides, NISSIN can provide a special offer. For example, if customers buy 1 pack instant noodles, they can get one new product for free. Apart from new product, NISSIN can maintain the price setting of other product. It can attract the low income group.

Distribution strategy

For selling place, the current distributing points of NISSIN are already good enough as the retailing shops are convenience for customers. It can increase the sales volume because of the convenient distribution points.

Marketing Research

Lastly, it is very important that NISSIN should do marketing researches to get the evaluation of the exiting marketing trend. Marketing research is necessary to determine the strength of the company in the industry. The company can have a deeper understanding of the preference of customers and the customers’ feedback. It is useful for NISSIN to do the evaluation. It is compulsory for NISSIN to take marketing research so that it can gain accurate statistics of marketing and help it to employ the correct marking plan.

To conclude, NISSIN is a well know manufacturer of instant noodles with a trusted image. Nowadays, there is a keen competition in the instant noodles market. Besides, there are some reports and experts point out that the bad effect of eating instant food. Thus, it is time for NISSIN to have some changes. NISSIN should establish a new image and new products in order to gain more profit and market shares.

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