FDRS Competition Presentation:

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FDRS Competition Presentation:

  1. 1. Presented By:Alexander Bassi, Sean Maxson, Shelby Sisk, Brittany Teixeira
  2. 2. ObjectivesExpansion for the New York and Florida marketsDefine and analyze the target marketEmploy new tactics for marketingSet realistic goals for market infiltration
  3. 3. Company AnalysisFamily owned, established in 1989Exotic fruits  Mangoes  Green bananasProvide Puerto Ricans in the US with a taste of home“Healthy Trees… Premium Fruit…Passionate Customers”
  4. 4. Internal Factors Strengths WeaknessesState of art equipment General transportationCompetitive certification PerishabilityHigh traceability Inactive social media12 hour process and transport
  5. 5. External Factors Opportunities ThreatsSocial media New specialty itemPuerto Rican Day Parade Fuel market volatilityProduce conventions and Indirect routing eventsGoal of 1-2 yearsHealth benefits
  6. 6. Puerto Rican Population
  7. 7. New York Puerto Rican Total Population: 1,111,544 Age: 17 and Under 30.4% (337,909) Median Age: 30.4 Years Gender: Female 52.2% (580,226) Marital Status: Never Married 49.5% (413,344) Education: High School Education or Less 25 years+ 60.4% (390,013)Source: US Census ACS 3-year New York Puerto Ricans 2008-2010
  8. 8. Florida Puerto Rican Market Total Population: 835,674 Age: 17 and Under 30.2% (252,373) Median Age: 30.8 Years Gender: Female 50.9% (425,358) Marital Status: Married 43.5% (272,869) Education: High School Education or Less 25 years+ 50.3% (246,589)Source: US Census ACS 3-year New York Puerto Ricans 2008-2010
  9. 9. MRI Banana Use Last 6 Months Age: 25-54 Gender: Female Marital Status: Now Married or Engaged Education: Attended College or No College HHI: $40,000 to $149,999 Region: Midwest and the South Children Age: 2-17 yearsSource: MRI Plus Banana Used Last 6 months 2011
  10. 10. Competitor AnalysisSmall Jamaican business  Trelawney DelightDistribution in  Jamaica  Caribbean DiasporaEst. September 2009
  11. 11. POLITICAL AND LEGAL ECONOMIC• FOOD SAFETY • LOW INTERESTCERTIFIED RATES •USDA, EPA, • NO TARIFFS OSHA • ALL CONSIDERED •EUROGAP DOMESITCSOCIAL AND CULTURAL TECHNOLOGICAL• GROWTH IN • TRACEABILITY PUERTO RICAN • INCREASE POPULATION PROCESSING SPEED• HOLD STRONG TO • STATE OF THE ART FAMILY CULTURE EQUIPMENT
  12. 12. First AlternativeDistribution centers  New York and FloridaEstablish own transportation system  Cover all costsImplementing sales team to distribute through channels
  13. 13. Second AlternativeIncrease volume to current wholesalers  Costco  Wal-mart  BonanzaSampling to wholesalersCross promotion and discounts
  14. 14. Strategic Market Plan
  15. 15. Selected Marketing StrategyExpansion to New York and FloridaEstablish relations with US food distributorsSocial media and eventsDelivery and distributions
  16. 16. Product
  17. 17. Social MediaSocial Media Outlets  Facebook  Google Plus  Website  Web Advertising-You TubeImplemented by media intern
  18. 18. Survey IncentivesSurvey Monkey  Facebook  Website  CouponsBetter knowledge of tastes and preferences
  19. 19. ConventionsInternational Restaurant and Foodservice Trade Show  March 3-5, 2013East coast’s premier industry eventFirst major event of the year  Great to launch new productsIndustry networking
  20. 20. Community Target Market EventsNational Puerto Rican Day Parade  National awareness and appreciation of Puerto Rican culture  Food and entertainmentLocations  Bronx, New York  Orlando, Florida Source: National Puerto Rican Day Inc.
  21. 21. Placement StrategyPartner with the top wholesale distributors
  22. 22. SYSCO Foodservice400,000 customers in North America8,700 reefer truck fleet180 distribution centersSupplies restaurants, schools, hotels, health-care institutions$42.38 billion sales  17.5% of foodservice distribution market  62% of 2012 sales to restaurantsSource: Hoovers
  23. 23. U.S Foodservice250,000 Customers60 distribution facilitiesHQ Rosemont, ILDesire to expand produce portfolio  Green cooked bananas  Mangoes$20 billion sales  10% of foodservice distribution marketSource: Hoovers
  24. 24. Performance Foodservice $414.6 million sales 41,000 customers in 40 different countries Supplies to independent hotels, restaurants, and other hospitality operators Headquartered in Richmond, VASource: Hoovers
  25. 25. Logistics Shipping routes  Jacksonville, FL  Port Everglade, FL  Port Elizabeth, NJ Connect with wholesale distributors at ports 40 ft. reefer containers  20 pallets  39,800 lbs gross weight  40 degrees continuousSource: USDA Agricultural Export Transportation Handbook
  26. 26. Price$42 per bucket  $0.33 per banana5% discount for 5 or more buckets one order  Price $39.90 with discount1% rebate to food distributor
  27. 27. Gross RevenueGoal: Green Bananas to match annual volume of Mangoes exported (300 reefers)20 pallets/container = 720 Pails/containerGross revenue per container after transportation costs = $24,728 to $26,240 $7,344,216 to $7,793,280 annual gross revenue before production costs and taxes  Minimum net annual profit at 10% $734,422  Maximum net annual profit at 10% $779,328
  28. 28. Timeline2013 2014 2015•Partner with •Secure contracts •Monitor results Foodservice with Foodservice •Expand to new Companies Companies markets•Attend International •Launch Veny •Expand into retail Restaurant and Bananas at National market with smaller Foodservice Fair in NY Puerto Rico Day packages•Build social media Parade pages •Sample new markets•Build websites •Hire Social Media•Hire marketing intern and Events Manager
  29. 29. Financial ObjectivesWebsite construction cost  $7,000Event cost  $150,000 to $250,000Social Media and Events Manager  $50,000 annual salary + benefits $10,000$150/hr for 50-80 hours total $9,750Total cost for median services $276,750Upfront costs before profit made
  30. 30. SummaryBuild relationships with foodservice distributorsInfiltration of Florida and New York marketsDemand creating through events and social mediaDemand creation for individual serving offeringsLong Term—establish distribution center
  31. 31. Resources "First Time Visitor." International Restaurant & Foodservice Show of New York. N.p., n.d. Web. 13 Oct. 2012. <http://www.internationalrestaurantny.com/Show-Info/First-Time-Visitor/>. "Census Bureau Homepage." Census Bureau Homepage. N.p., n.d. Web. 13 Oct. 2012. <http://www.census.gov/>. "Home." - International Restaurant & Foodservice Show of New York. N.p., n.d. Web. 13 Oct. 2012. <http://www.internationalrestaurantny.com/>. "Hoovers | Company Information | Industry Information | Lists." Hoovers | Company Information | Industry Information | Lists. N.p., n.d. Web. 13 Oct. 2012. <http://www.hoovers.com/>. "MRI : Welcome." MRI : Welcome. N.p., n.d. Web. 13 Oct. 2012. <http://www.mriplus.com/account/home.aspx>. "National Puerto Rican Day Parade, Inc." National Puerto Rican Day Parade, Inc. N.p., 2011. Web. 13 Oct. 2012. <http://www.nationalpuertoricandayparade.org/>. Sonia G. Collazo. "Profile of the Puerto Rican Population in United States and Puerto Rico: 2008." US Census. N.p., 15 Apr. 2010. Web. 13 Oct. 2012. <http://www.census.gov/hhes/socdemo/education/data/acs/paa2010/Collazo_Ryan_Bauman_PAA2010_ Paper.pdf>. "Sliced Jamaican Yellow Yams." Sliced Jamaican Yellow Yams. N.p., n.d. Web. 13 Oct. 2012. <http://trelawnydelyght.webs.com/>. Welby, Ellen M. USDA Agricultural Export Transportation Handbook. Washington DC: United States Department of Agriculture, 2004. Print.

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