Post on 28-Nov-2015
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Century Canning Corporation is the marine and tuna enterprise of Century Pacific Group. Our brands, Century Tuna, 555 Tuna, Blue Bay Tuna, and Fresca Tuna offer delicious, healthy and superior quality tuna meals everyday. We are consistent in introducing delightful new flavors and variants that every family member can enjoy. Today our brands remain household favorites, making Century Canning Corporation the first name in tuna.
It takes a state-of-the art canning facility in Southeast Asia to manufacture and market all these leading brands, assuring consumers of cleanliness, efficiency and superior quality. Its location at the heart of the Philippines tuna capital, General Santos City, guarantees the freshness of our fish, as well as quick and efficient delivery of our products to a network of distributors nationwide.
SEGMENTATION & TARGET MARKET
Demographics: 16-50 years old, M/F, social class BCD, single or married
Lifestyle: active functioning teens and adults, health conscious and those who want a strong heart and healthy mind.
Behavior: Consumed as a lifestyle, for mind and body energy.
TARGET MARKET NEEDS, WANTS AND DEMANDS
Active Individuals need to be appreciated, recognition and status are important.
Active Individuals choose Century Tuna over other canned tunas because of more
nutrients in its formulation giving brain power, healthy body and a strong heart.
Active Individuals expect a boost in mental and physical functions when consuming
century tuna.
Benefit Positioning
Functional Benefit Century Tuna
Century Corned Tuna
San Marino Corned Tuna
555 Corned Tuna Corned beef
Gives additional
Brain Power
Fortified with
Omega 3
Healthy body
Zinc Iron High in protein
Price Positioning
Price/ Health quality
Low calorie Medium calorie High calorie
High price
Century
Sa C San
Corn
Low Price
COMPETITOR
Direct Competitors: San Marino, Ocean Deli
Indirect Competitors: Corned Beef, Meat Loaf, Sardines, Health Food and Drinks
555
555
MARKET SHARE OF CANNED FOOD COMPANIES
StrengthCentury tuna is the first and only canned tuna
manufacturer for over 20 years before the entry of San Marino
It is available all over the world.
It has a distinct taste that is similar to homemade foods.
It provides a range of health benefits.It has an unlimited production and
distribution capacity.
Century could create its own segment of tuna paella to combat San Marino and other canned meat products such as spam and
corned beef
Weaknesses
Higher price than the competitor's product
They can't keep up with the demand of the consumers
It has not been able to address tastiness due to its formulation
Opportunities
New distribution channelsChanging customer tastes
High Employment RateChanging Customer Demand
Threats
The tin can become expensive
Tax increaseTechnological advances
SWOT
Century Tuna and other CCC brands have dominated the Philippine canned tuna market
from 1986 to 2009. In 2005-2009, CCC owned 99% of the local tuna market. In 2010, business
reports have shown that tuna canning new-comer San Marino, a subsidiary of CDO corporation,
has taken 7% of the local market share (CPG, 2004-2009).
The primary proponent to San Marino’s success has been identified to be their aggressive
brand campaign and innovative product presentation. In spite of the early success of San Marino,
Century is still projected to dominate the local market in the coming years because of the limited
production and distribution capacity of the smaller San Marino company.
Other factors that may affect the local canned tuna market is the introduction of a
competing product such as canned and frozen bangus preparations. It may be in the best interest
of Century Canning because they own the only active bangus canning plant in the Philippines,
but for San Marino, the introduction of canned bangus threatens to directly diminish the
available market.
MARKETING MIX
Century Tuna is a brand of canned tuna from the Philippines. It is the leading name of
canned tuna in the country and is now being sold all over the world.
Century Tuna is known for excellence, providing its customers with only the best tuna.
Canned inside Century Tuna Spread are freshly caught tuna cut into flakes and immersed with its
natural oils to provide a real and healthy taste. It is low in cholesterol and high in nutrients. Also,
Century Tuna Mayo Spread is rich with omega 3 which is important to metabolism. Omega 3 in
Century Tuna helps the heart and mind too, recent studies reveal that it betters circulation by
decreasing plaque formation along the walls of blood vessels. Fish oil properties help the body
avoid heart diseases, hypertension and some types of cancers.
Product Development
We will develop the Century Tuna Mayo Spread into a dip. We will add flavors such as
cheese, sour and cream and salsa.
Pricing Strategy
Century Tuna ranks as the number one brand in the local market especially in metro
manila and in other developed areas where their target market is the health conscious and high
budget class. It has a market share of 92% along with other brands of Century Canning
Corporation.
Based on our survey, our product or brand (Century Tuna) was very familiar to our
customers. They are willing to buy our product because of the quality focusing mainly on its
health benefits in an affordable price. Because of that, we will use the Price Skimming Strategy.
We are going to charge the highest initial price that customers will pay. As the demand of the
first customer is satisfied, we’re going to lower the price to attract other customers.
We will use the price skimming due to the following reasons:
-There are enough prospective customers willing to buy the product at the high price.
-The high price does not attract competitors.
-Lowering the price would have only a minor effect on increasing sales volume and reducing
unit costs.
-The high price is interpreted as a sign of high quality.
Placement
We want our product to be visible at the precise moment that a consumer is
willing to purchase such product, be it through an actual need or an impulse buy. Products can
reach the consumer through multiple ways, including through retail outlets which is the most
common and convenient for the consumers. Not every consumer shops the same way and that’s
why product placement is done which is to make the products available for the consumers on the
right place and time.
Our product will be sold on supermarket, convenience stores and grocery stores. We
decided to put our product on those intermediaries because we believe that those are the most
accessible and convenient way of selling our product for our respective consumers. We assure
that our consumers will get the product immediately after having the stimuli to buy and we
would not let them had a hard time finding on where they can purchase this particular product.
We chose supermarket to make our product available because it offers wide variety of
goods so consumers who try finding new products will probably go to the nearest supermarkets
around them. Convenience stores are also one of our intermediaries for the reason that it is open
24/7 so consumers can buy it anytime of the day. Another agent of distribution that we prefer is
grocery stores since it are the usual place where people tend to go to buy small quantity of
products which they can find nearby but unlike convenience stores, it might not be open 24
hours.
CUSTOMER
RETAILER
WHOLESALER
MANUFACTURER
Sales Promotion
Samples
To get the market aware of the new variant of Century Tuna, I will require a free taste in
all leading grocery stores nationwide.
Bundle packs
We would produce bundle packs of Century Tuna Mayo Dip along with other Century Tuna
variants such as Century Tuna flakes in oil, lite, red label, bangus and others. The price
would be lower than if you buy all of them in retail.
Contests
Since Century Tuna is known to be a healthy product, not only for the heart but also for
maintaining a fit body. 3 days / 2 nights roundtrip ticket for two to Boracay in Discovery
Suites Hotel (plus pocket money) awaits the Grand Prize winner of Century Tuna raffle
contest, consolation prizes include 1 year free membership in Gold’s Gym and membership
in wakeboarding in CamSur. Other prizes include ultimate fan sign with Derek Ramsay and
Anne Curtis which they will personally pick.
Public Relations
Athlete Sponsorship
We would be sponsoring beach volleyball and surfing athletes in their games this coming
summer.
Fun Run
We would give free samples of Century Tuna in Fun Runs. We would give sandwiches
with Century Tuna Mayo Dip.
Advertising
BROADCAST MEDIA
Television
Century Tuna use 60% of their budget on the broadcast media. Television is the major medium
used for the advertisement. Century Tuna has been playing commercials on the TV since they
have launched their products. Their Ads cover the lifestyles of the people. In their ads they have
shown many situations:
· People indicating their plans in the future
· Girl having a problem with her weight on summer
· A confident and sexy couple eating tuna
In the entire above situation they have showed the importance of eating healthy foods like for
example, when it’s about athlete, he is health conscious and when summer comes, girls are
having their diet so it’s a good thing that there is Century Tuna which can help them have a fit
and healthy body.
PRINT MEDIA
In the print media Century Tuna is using the following mediums to advertise.
Magazines & Newspapers
Century Tuna advertise in both magazine and news paper on weekly and monthly basis. The
following list of magazine and newspaper in which Century Tuna advertise:
· Philippine Daily Inquirer
· Lifestyle Magazine
· Food Magazine
BELOW THE LINE
Century Tuna spend a big share of their advertisement budget on the outdoor advertisement
which includes:
PAINTED BILLBOARDS
TRANSIT ADVERTISING
Transit advertising is a category of out of home media that includes bus and taxicab advertising
as well as posters on transit shelters, terminals, and airports.
Types of transit advertising
· Outside posters
· Terminal posters
· Taxi / bus exteriors
Since Century Tuna is a prominent brand of goods in the country, a fairly big amount is allocated
for its promotion and advertisement for the summer season especially now that many people will
be on diet to maintain their fit and healthy body. There is also a allocated budget quarterly good
for its monthly advertisement and nationwide promotion.