AppendixProposed marketing research

Marking Mix- Healthy Oil Free Doubles

Product- The product of Healthy Oilfree Doubles is a healthier nutritionally pac
ked alternative to one of the most widely consumed food in Trinidad and Tobago w
hich is Doubles. Instead of the traditional recipe and preparation of this cultu
ral delicacy which is two fried white flour Baras (similar to fried bread) sandwi
ched curried chickpeas garnished with hot sauces and sweet sauces this new ventu
re will remove the oil from the Baras by baking it and also substituting the whit
e processed flour with a healthier quinoa flour which is known from current heal
th research to be a nutritionally packed super food, Authority of Nutrition, 201
5, and baked to exclude the oil that is absorbed from frying which is the major
health concern as vegetable oils are high in saturated fat is directly correlate
d to increase of heart disease diabetes and other major chronic diseases decreas
ing life expectancy by as much as 20-50%, Authority of Nutrition, 2014. The curr
ied chick peas will also be prepared without any oil unlike how it is prepared c
urrently to further reduce health damage. The final product will have 50% the ca
lories of competitors contain a wide range of vitamins and minerals with no satu
rated fat and high protein accredited to the addition of the quinoa flour. The p
roduct will be at a $1.00 premium from competitors and will be sold from a mobil
e truck easily converted to accompany a fridge and hot plates as the products wi
ll be made from the commercial kitchen that will be opened to suffice the one tr
uck and many other trucks if growth and demand justify the capital investments f
or several trucks. This way the business can scale very easily by just pouring m
ore gasoline onto the burning fire, in non-latent terms that will be investing m
ore money for greater sustained growth. This business venture will service the d
emand found by the marketing research methods, section 2.2 that there is a gap i
n the market for a healthier version of this cultural food also with the increas
e of approximately 10% of consumers which do not partake in existing products du
e to allergies of wheat or gluten the most popular allergies in the world. As he
alth awareness is spreading at incredible speed in this day and age and only see
ms to be accelerating, justification of this new business ventures chance of suc
cess is obtained,
Price- The price will be a $1.00-$2.00 premium over competitors depending on the
location which will be $5.00 in southern regions of Trinidad, whereas the great
er demand and health consciousness of North-West Trinidad will be $7.00 a small
premium in the eye of the health conscious individual which the current price ra
nges from $4.00-$5.00. The business venture will be able to sustain this small p
remium while staying profitable even when using higher cost premium ingredients
is due to the removal of the cost of Oil and accompanying equipment for frying w
hich is also gas and appliances will as these are not needed since no frying or
oil will be required in preparation or in the recipe.
Place- The product will be distributed to consumers via food trucks which will d
ispatch from the commercial kitchen located in central Trinidad and setup at des
ignated locations where current competitors congregate this will be save the mar
keting cost and customer inconvenience if it were to be one store that is normal
ly out of the way with low traffic and potential customers. The three locations
will be North- Valsayn , North-West
Diego Martin
South, Cross Crossing San Fern
ando.
Promotion- Current competitors don t offer advertising and survive on marketing of
word of mouth, this new business venture will take advantage of this lack of ma
rketing and slowly build a brand name/ image by using the following promotion st
rategies; Facebook page and Facebook advertisements $100-500 monthly, radio adve
rtisements $400-1200 monthly and finally setup the food trucks to give out free
samples on weekends in select heavy trafficked locations where competitors are m
ost conga grated.
Source: Students own research, 2015.

Porters Five Forces-.

1.
Source: Students Own Research 2015, Michael E. Porter, 1980

Market size- Estimated to be in 2015

Total Population= 1,537,000 People
Source: Trinidad National Census 2013

Target Market- In Millions of Dollars

Total Market- $165Million
Source: Students Own Research 2015.

Currently 10% of the population is believed to be fully healthy conscious in ter

ms of diet. The target market for Healthy Oilfree Doubles would be that 10% of c

onsumers that abstain from competitors due its terrible health concerns and also
the other 10% of Trinidadians that abstain from current competitors products due
to wheat and gluten allergies which this business venture can capture due the s
ubstitute of white processed wheat flour that contains gluten with quinoa flour
which doesn t contain gluten nor wheat. The supplementary/secondary market for Hea
lthy Oil free doubles would be conversion of consumers of current competitors wh
ich is estimated to be 1% per year based on the surveys and focus groups underta
ken which is posted under market research.
Market Environment- This Market has laid stagnant for at least 50 years with lit
tle to no change or innovation which has led to this cultural product being grea
tly attributed to the overall population being in terrible health as backed up b
y the following; Trinidad and Tobago heart disease is the #1 cause of death, and
taken together heart disease, cancers, diabetes and stroke account for over 60%
of all deaths annually. According to the results of the Chronic Risk Factor Sur
vey MOH, 2011, the prevalence of high blood pressure in Trinidad and Tobago is h
igh, with approximately twenty-six percent of the population (29.8% males and 23
.1% females), or 1 in 4 persons, living with high blood pressure. Don t include s
tatistic under environment put after research you will be able to judge the abil
ity to succeed in this business idea by knowing the market environment by gettin
g ideas on what the growing population is
Market competitors- With little barriers to entry as described in Fig 2.6 Porter
s five Forces there are estimated 5000-10000 competitors selling the existing pr
oduct although each of them have little market share and little to no brand equi
ty/ Brand power or capital, they pose little to no threat to Healthy Oilfree dou
bles once the brand and business is established.

Market Segmentation- The process of defining and subdividing a large homogenous

market into clearly identifiable segments having similar needs, wants, or demand
characteristics. Its objective is to design a marketing mix that precisely matc
hes the expectations of customers in the targeted segment.

Few companies are big enough to supply the needs of an entire market; most must
breakdown the total demand into segments and choose those that the company is be
st equipped to handle.
Four basic factors that affect market segmentation are
1.
clear identification of the segment,
2.
measurability of its effective size,
3.
its accessibility through promotional efforts, and

4.
its appropriateness to the policies and resources of the company.
Bases for Segmentation in Consumer Markets
Consumer markets can be segmented on the following customer characteristics.
Geographic
Demographic
Psychographic
Behavioralistic
Geographic Segmentation: The geographic region targeted for this venture will be
Trinidad and Tobago further segmented into North Trinidad and West Trinidad whe
re the most probable customers due to research showing behaviour and demographi
c that align with the unique selling propositions of this new venture.
Demographic Segmentation: The demographic targeted for this new business venture
which show the highest potential profit and sales according to primary and seco
ndary research are as follows:
Age- 12-75
Gendor-Both
Generation: Millenials, Baby-Boomers
Occupation: University Student, working adult and students.
Social Class: Middle class to Upper middle class to Upper class.
Psychographic Segmentation
Psychographic segmentation groups customers according to their lifestyle. Activi
ties, interests, and opinions surveys.
Surveys show that the highest potential customers are as follows Healthy conscio
us individuals that are very active are interested in healthy alternatives for t
heir favorite foods and don t partake in competitors products due to the health da
mage.
Behavioralistic Segmentation
Behavioral segmentation is based on actual customer behavior toward products.
Behavioralistic variables for target market include: Consumers of that don t cons
ume existing competitors products due to health awareness and lack of health ben
efits, along with avid consumers that currently daily consume competitors but wo
uld convert if a healthier alternative arouse these individuals that very readil
y to purchase alternatives would be the best target for this new business ventur
e.