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Ready Meals in Australia Industry Sector Analysis - Expert Assignment Help

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Question

Task 1 Guide

Format and Referencing – Should conform to the Summers and Smith (2014) report writing format. The reference style is Harvard.

Structure – Along with the basic structural elements of business report, the body of the report may consider including the following sections organised by sub-sections (plus any others that might be relevant):

  • Background – Provides an overview of the sector at present
  • Analysis – Apply some analytical frameworks (e.g. PEST, Porter's 5 Forces, etc) to analyse, understand and discuss the competitive challenges  and opportunities in the market
  • Marketing implications – Based on the analysis and findings on the challenges and opportunities, what do food marketers in the sector need to consider in their decision making?

 

Criteria overview –

  • Quality and relevance of research – This refers to the quality of where you are sourcing your data from, and that it is fitting of the context and applicable to the analysis you are conducting.
  • Communication and professional presentation of report – The report should meet the structure and formatting requirements in Summers and (Smith 2014), and Harvard referencing. The level and quality of the written communication should also be academic and professional.
  • Analysis and interpretation of data –This refers to how well you demonstrate an understanding and make sense of information you gather through your analysis. It also refers to how well you draw the connections to the marketing implications for the sector.
  • Identification of challenges and opportunities – How well you are able to infer and draw out the opportunities and challenges in the sector based on your analysis.

Other hints – Use tables to demonstrate depth of analysis and save words.

Solution

Introduction

During the recent decade, millions of internet users all across the globe have joined social media platforms like Facebook, Twitter, and Instagram etc. Be it male, female, children, elders, well educated, or non-educated everyone is using and talks about social media. With the rising popularity of social media in the past decade, this report analyses the popularity of Facebook Inc. It has emerged as a global social online network that has more than one billion member accounts, although it is just 10 years old. This report critically analyses Facebook's history, the resources as well as the current market situation. Then the theoretical aspects are used for analysing the marketing strategies adopted by Facebook and how the changing media trends will affect the popularity of Facebook in coming years (Sikka, 2014).
In most of the cases, it is seen that the social media sites like YouTube, Facebook, Orkut, LinkedIn, Bebo, Twitter, and MySpace etc. do not charge even a single penny for registration. Currently, these social media platforms are working towards improving their supervise features and their amount of users are also growing very rapidly. Because of most of the services going free, these sites are largely unable to generate satisfying revenues and profits as desired and that is commensurate to the popularity of the sites (Miltiadis, et al., 2009). Thus through this report, we will analysis what all factors and changes in its marketing strategy should Facebook bring about to survive successfully in future.

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Three players dominate the Australian ready meals sector –McCain Foods, Simplot and Patties Foods. The target customers are time-constrained and budget and health-conscious consumers who choose easy-to-prepare food options. The rise in demand has increased the unit price of ready meals food products to AUD12.74/kg in 2015 from AUD 11.21/kg in 2014. 

The demographic landscape of target customers is expanding from less affluent families to affluent families. Also, the perception of ready meals as a dinner option is changing with the introduction of food products that cater to other meal times. Such sectoral developments have given various opportunities to food marketers to expand their companies' market share.

There is an opportunity to expand the product offering across different price points and product innovation through value capture with the focus on convenience. The marketers have to focus on the emotional association of their products to consumers through awareness creation and customer involvement with the assistance of marketing campaigns, market intelligence, and the widespread distribution networks.

1. Introduction

This report gives an overview of the ready meals market in Australia and the strategies adopted by food marketers to reach the target customers. The report gives a brief on the ready meals sector and its various components through PESTLE analysis and Porter's Five Forces Model. Based on the analysis, recommendations are suggested to the food marketers for acquiring market share. 

Australia is one of the global leaders in the production of processed foods with tailored products to meet consumer preferences (AusTrade, 2013). The last decade has experienced a momentous growth of ready meals in the Australian diet.  The major growth drivers are convenience and time-saving for consumers and the quality and attractiveness of ready meals.

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