What is Study Food?

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Recommended: Retail Management A Strategic Approach

Study Foods is a new retail company that will provide niche marketed goods comprising of a variety of specific study foods that is easy to access, in demand, and competitively priced. Study Foods will be an unincorporated partnership with a strategic goal of expanding and introducing a larger range of products and also expanding into an incorporated public business.

Study Foods will provide a wide array of competitively priced nutritional snack packs for the target market consisting of people aged 18-25. We are fully aware of the vast amount of retailers which sell similar products and we have specific plans to be the leader in the market. Our intent is to provide the community with unique nutritional study snack packs that they would feel comfortable upon purchasing. This will be specifically achieved through the broad use of creative and environmentally friendly packaging.

The business will be financed with a budget of $15,000, therefore limiting the business to achieve short-term goals as an ultimate priority to determine success or failure within the retail industry.

Although there may be certain food retail stores surrounding Study Food’s operations, we have an aim to tackle the market with efficient, competitively priced and effective study snack packs. As an opening business, we understand the need for what our target market want the most, which is cheap and quick snacks to get them through the day. Our main strategy to achieve market penetration will consist of:

• Grand opening sale and free snack samples to make ‘Study Foods’ known to the market

• Special events such as celebrations and contests – These special events will give ‘Study Foods’ powerful vehicles to promote our image, products and to generate good...

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...ponent of any business.

Creating value is an integral part of Study Foods overall business strategy, because value develops a positive relationship between the product and customers. Robert S. Kaplan and Norton say "Strategy is based on a differentiated customer value proposition. Satisfying customers is the source of sustainable value creation."

Creating a strong value proposition is based on the continual review and analysis of weighting up the benefits, cost and value Study Foods can provide to the target market group, in the form of highlighting the benefits of the product far outweigh the costs that will create a sustainable value proposition. Consumers will atomically consider the economic problem of value = Benefits – Costs, so in order for value to be developed benefits have to far outweigh the economic cost of the product.

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