LLC Food Inc.
The nature of the product that LLC Food Inc. will develop is fast food. The company will produce food mainly for commercial resale and with a priority placed on quick service. These food items include recipes and ingredients for fast foods like sandwiches, fish and chips, hamburgers, and chicken nuggets. Other products include readily manufactured fast foods like fried chicken.
The best type of packaging based on the nature of LLC Food Inc.’s intended product will be natural kraft packaging. This type of food packaging is the most appropriate for fast-food products because it is recyclable and designed to keep food fresh (Dana, 2021). Foods will be placed in recyclable kraft boxes of various sizes and shapes made of environment-friendly materials because people tend to eat large volumes of fast food every day. These boxes will be custom-printed with the company’s logo to make a lasting first impression on customers and build the LLC Food brand.
The type of warranty needed by LLC Food Inc. is an express warranty. This warranty normally disclaims or promises something, for example, the replacement of some defective products. Since fast food is a mixture of semi-perishable and perishable items, this warranty offers customers a chance to replace bad foods. Additionally, it also guarantees the production of quality and reliable items. Therefore, it will compel the company to produce food items that meet customers’ expectations of quality. If LLC Food’s items fail in this regard, the company will have to replace or fix the item for no additional charge (Saunders, 2016).
The company intends to produce fast food products that are easily accessible, serviceable quickly, and flexible. LLC Food Inc. intends to produce fast foods that do not take too much time. Second, these food items will also be easily accessible in that people can easily find them in various fast food outlets in the markets served by the company. Lastly, these food products will be flexible in that the fast food outlets should readily accept their return and other requests made by customers to change whatever they have already purchased.
The benefits of producing fast food items of the above nature are that they have minimal production costs and are highly marketable. Fast food products require minimal production costs. They are usually less labor-intensive since they require no extensive work than slow food items (Oexle et al., 2015). Therefore, the company will spend less in hiring a few individuals who will manufacture these products, thereby cutting production costs. Second, they are cheap and quite famous in most regions. These abilities offer a wide market for such products in that most people readily accept them and that their prices are affordable to a large population.
The fast-food product will create a strong competitive advantage due to its strong brand, intensively accepted by a large population. Its market comprises the ever-growing number of middle-class families having the disposable income required to eat in various fast-food outlets across the globe (Oexle et al., 2015).
Since fast food businesses create intellectual property (IP), there will be a need to consider patent protection. This IP patent protection will cover all the processes in the company, from the formulation of recipes and ingredients to the products’ branding. Being an international company, the process of applying for this patent will not be straightforward. Therefore, the executive team will seek a professional’s advice to ensure LLC Food’s intellectual property has the right level of protection (Saunders, 2015).
The main target market for this product is the middle-class individuals working in various organizations, students studying in various colleges, and youths aged 23-30 years who dislike cooking. They like fast foods because they are inexpensive, taste good, and are very convenient. Another reason that motivates people to purchase this kind of food product is its quick service. All they need to do is to order the food, and they receive their orders almost instantly.
The intended price for the company’s product will be between $5-$7. The factors that will influence the price levels include the amount of money people spend on fast food products weekly and the average costs of fast food items within the market. This price is important to the target market because it will significantly contribute to how they perceive the services and products offered by the company.
Since fast food products are perishable and semi-perishable, their distribution will be mainly through refrigerated vehicles, trains, or aircraft to fast food outlets, such as fast-food restaurants across the globe. The distribution will be through an indirect channel comprising various intermediaries like brokers, distributors, retailers, and brokers who will deliver the products to various food outlets globally (Christian & Gereffi, 2018). The benefit of using this form of distribution channel is because it will make it quite easy to sell large volumes of the company’s product to a wide range of customers.
As a global company, LLC Food needs to use the internet and global media houses for promotion. The company will display some of its items on various social media platforms and advertise them on television and in print publications. For example, the company can publish photos of customers enjoying its products and explain how each product is made. The promotional objective is to persuade customers to try LLC Food’s products.
The other objective is to accentuate the value of the product. The product promotion will be aired on various social media platforms, including Facebook, Instagram and Twitter, and by international media TV stations. The company intends to use approximately $100,000 on promotion. The promotion theme will be “Go for the Greatness at LLC Food Inc.” The promotion will be aired in the morning, afternoon, and evening to attract more customers.
Christian M., Gereffi G. (2018). The Marketing and Distribution of Fast Food. In: Freemark M. Pediatric Obesity. Humana Press. https://doi.org/10.1007/978-1-60327-874-4_30
Dana, K. (2021). Takeout Food Packaging: Why You Need to Make Smart Decisions at Your Restaurant. TouchBistro. https://www.touchbistro.com/blog/takeout-food-packaging/
Oexle, N., Barnes, T. L., Blake, C. E., Bell, B. A., & Liese, A. D. (2015). Neighborhood fast food availability and fast food consumption. Appetite, 92, 227–232. https://doi.org/10.1016/j.appet.2015.05.030
Saunders, K. (2016). You ever disclaim an express warranty. Can you ever disclaim an express warranty? Pepperdine Journal of Business, Entrepreneurship & Law, 9(3), 59-71. https://digitalcommons.pepperdine.edu/jbel/vol9/iss1/3