Product Launch Report: Fast Food

Product Launch Report: Fast Food EXECUTIVE SUMMERY This project is about super deluxe burger combo developed by BURGER FUEL named as  Ã¢â‚¬Å"RICHIE FREAKOUT â€Å"as Richie is New Zealand rugby team captain and is well known personality all over. When we heard his name Words like passion, energy, power, effectiveness strike in our mind. This combo meal include flat bread bun having different variety of meat. Will be given with energy drink rather than soft drink. The need to introduce this is as young generation intake energy drink a lot and consumption of healthy energy giving product is more so by providing this combo we will likely to target the young teen which play crucial role in our store as more than 50% of sale is dependent on them. The need to introduce this burger is as customer are more demanding and need innovation in product by introducing new flat bread bun this deluxe combo with energy drink make customer attracted. INTRODUCTION Burger Fuel is a New Zealand owned chain of burger restaurants with 52 locations around the world including 46 locations in New Zealand.it is high energy burger brand that experience huge success in Middle East and now exposing growing market in New Zealand. Burger fuel is leading top brand in food market now a days. Burger fuel is well known KIWI brand as it known for its specialaiolisauce, freshness, taste. As it is very interesting to know that 31 March 2013 resulted in a profit of $1,098,294. This was a 55% increase in the profit from that of previous year of the $708,360. Which result in total sale of $ 49.3M in current year. Making it compare with last year there is increase of 29.2% in total sale of burger fuel which is huge achievement. (annual report burger fuel 2013, 2013) IDEA OF THE SUPER DELUXE COMBO New burger fuel super deluxe burger combo name as â€Å"RICHIE FREAKOUT† is going to be introduced in young market era where people are mainly concern with intake of energy, healthy and nutritious diet. This deluxe combo will be provided with ENERGY DRINK and also the combo will have flat bread. Burger fuel try to focus on each and every people in market now a days youngster have more intake of energy drink. As now all people are concern with health issue new flat bread bun in introduced which is oil free with no fat. We try to focus young generation as in past few years are sale likely to increase due to variety we provide to them. COMPETITOR As we have new super deluxe combo which is different from offering of different competitor but still we have competitor in market: Subway Burger King McDonalds But since we having number of competitor but idea to introduce flat bread bun and energy drink with combo meal is likely to be new. MARKET SHARE TARGET MARKET By introducing this super deluxe burger combo burger fuel try to target young generation as they play crucial role for each and every company. As we look profits of burger fuel from past few years. According to annual report of burger fuel up to financial year 31 March 2013 has again demonstrated a significant improvement in his performance. The small chain of business continue to grow and is becoming stronger both in local and international market As at 31 March 2013 there were 44  Burger Fuel outlets operating and the Group has  Considerable Young generation like the different combo meals offer by burger fuel. SEGEMENT PROFITABILITY As our product price are generally high as we offer quality product. But keeping in mind combo is designed for young generation price is likely to be moderate will be provided with addition deal on Weekends. Increasing sale by giving additional sale make sale to go high and will increase profit margin. POSITIONING OF THE PRODUCT As most of business can’t afford investing of thousands of dollars in advertising and promotion every month as it is going to increase price of product as we are introducing new super deluxe combo meal at reasonable price. By spending more on advertisement will likely to increase combo price so by making new pamphlets of store different combo highlighting super deluxe deal in beginning will make people to know about product and also we will able to introduce our other combo through it. MARKETING MIX PRODUCT The product involves all its particular features and benefits. It can be seen from the Salad Cream campaign that a decision was taken not to alter the taste of salad cream and only to change the bottle shape and packaging. Hence, the product aspect of the marketing mix was left relatively unchanged. In the case of Salad Cream the price aspects of the mix were altered: price was increased, because focus group research supported the view that a price increase in Salad Cream would be acceptable to consumers. Promotion aspects were considerably changed. The advertising and promotional campaigns described above were extensive. Finally, place within the marketing mix was also unchanged in terms of the places where consumers could buy Salad Cream. No new sales outlets or distribution points were suggested by the campaign team. PRICE Price is one of most important element which create sales revenue, price of product is important determinant of value of sale made. Price is determined by market forces in accordance with time and circumstances. Deluxe combo must be introduced keeping in mind the total cost and market trend prevailing in market. PROMOTION Promotion is business communication it will provide information that will assist customer to buy. However successful promotion will result in increase in sales. By making well designed pamphlet highlighting super deluxe combo will likely to attract the people which is good for company. Other method which can be used for introducing are: Radio and television Poster and media Internet sites Promotion campaigns PLACE Product placement also known as product brand by which product is integrated in marketing practises. Marketing practise such as advertising, promotion brand name, package and other. In product placement The audience involve get to know about the product. By advertising super deluxe combo in television in between movies interval people will do come to know we must have to pay attention toward our combo layout DIFFERENTIATION Richie freakout is different from that of other combo deal which is being provided in store as combo come up with: Flat bread bun Energy drink BUSINESS STRATEGY Launching a new thing requires addressing the four marketing pillars of price, product, promotion and place of sale. To analyse each of these areas, we need to examine strengths, weaknesses, opportunities and threats to help minimizing our risks and maximize our resources before we run our promotion activities. STRENGTHS The combo we introducing it satisfy the need and demand of young generation as combo is designed according to their preferences and recommendation given by them. We manage to provide this combo with basic price out profitability will be quite less in accordance with out combo we provide but this deluxe combo will attract wide range of people which is good for us. WEAKNESSES A weakness is related with unnecessary things that happen. We must be prepare with the any short coming arise or any problem face during the process. We had to pay attention toward cost involve as we specialise in providing fresh. OPPORTUNITIES As we introducing new deluxe combo it will give great opportunities. As we coming up with new upcoming this will create great opportunities as they will attract number of youth which will create demand not for this but for overall combo. As we having lower overhead costs than a mature competitor, we might be able to price our self more competitively. THREATS Once we enter the market place, our competitors will likely to react. One of the biggest threats we face is our competition prevailing in market. We must have our backup plans for your pricing, promotion and distribution channels so that we can respond to competitor changes taking place. CONCLUSION This case study has examined burger fuel ability to use innovation in developed market place. There is need to innovate efforts in expanding market. The case study include some elements like Demand and preferences of customer to identify market opportunity Product innovation Introducing this super deluxe combo will create great opportunity this will not only give company a competitive advantage but will give sustained advantage to increase profitability. Hence if super deluxe combo is introduced it will build a strong relationship with our young generation. RECOMMEDATIONS First of all there must be proper stock of raw material as we deal in serving fresh meals Manager must forecast sale of store and must have estimated stock As we know providing energy drink there must proper set up of machinery to serve it. Ntec Concordia institute Internet Television: History and Future Internet Television: History and Future Internet Television: The Present and the Future Introduction The emergence of the Internet has revolutionized the way people conduct their life and activities, without them being aware of it. Conventional activities like going to the library, reading books, and shopping have converged to a single activity of sitting at the personal computer. Not only these, technology-based activities like watching television, listening to music and communicating on the telephone etc., which had previously been considered developed beyond expectations, have radically changed even more. One no longer gets mesmerized by watching videos on the Internet or streaming news items from web sites such as www.mtv.com or www.bbc.co.uk, respectively. There is virtually no difference in carrying out activities, like the above, through a single PC or through the designated equipments like radio, television or video recorders. For technologists, convergence of the media has been a revolution that has changed the world and the way we live, partly because it opens new avenues for exploration and partly because technologists believe they can improve the quality of these technology-based activities. In particular, the convergence of the Internet with broadcasting technology has altered not only the consumers perception of watching television but also related technologies and industries. Today, media companies are investing heavily in broadcast research and development (RD) and in Internet technology with the view to capture both types of consumer markets. What is more important in this race for changing the face of media is how technologists are developing even more complex media technologies to seamlessly converge broadcast and the Internet to offer a highly integrated environment for the future consumers. In the following discussion, the researcher shall explore how this historical revolution has come about, current development and future challenges. History of Television Broadcast and Internet Television Perhaps the most important development of television technology had been the vision of communications satellites in 1945 by Sir Arthur Clarke. The author used his knowledge of British Radar Establishment to outline the future of satellites. He wrote an article about using â€Å"extraterrestrial radio relays† for developing a global communications system to establish radio stations. What Clarke had not realized was that the relays he mentioned were illustrations of television signals, which has the same application today (Ippolito and Pelton 2004). Satellite communication system has become the foundation for television and radio broadcast, during the 1950s to date. Direct broadcast was introduced in 1960s and 1970s, also known as Direct to Home (DTH) or Direct Broadcast Satellite (DBS) or, in official terms, Broadcast Satellite Services (BSS). These initial BSS were dependent on the international route telecommunication backbone used for telephone and telex, and later for TV an d radio program distribution. This period witnessed a slowdown in satellite revolution as the governments, organizations and public interest groups were concerned about developments of satellite transmission power to the homes and beyond geographical boundaries. They were of the view that such technology could cause cultural, political and social damage (Sachdev and Swearingen 2004). Despite their objections, TV channel frequency developed high satellite transmission frequency through Effective Radiated Power, which could transmit analogue signals to even small antennas. The first operational Direct Broadcast or DTH system was developed in Europe by the German and French, which was known as TV-Sat in Germany and TeleDiffusion Francais in France. During the 1980s, the International Telecommunications Union was adopted by the US and European countries to broadcast programs across the Atlantic (Sachdev and Swearingen 2004). Clay Whitehead, an American, was a pioneer in developing Ku-ba nd frequencies, which altered the medium for â€Å"fixed service† satellite to broadcast TV directly to low receive-only dishes. The concept was furthered by Coronet, and then later acquired in 1984 by SES Astra. Astra became the true DBS satellites that were successful in transmitting high-frequency power to and from satellites, thus, providing a large number of TV channels to the users (Sachdev and Swearingen 2004). However, academics believe that true broadcast challenges came about with the introduction of terrestrial and digital broadcasting during the 1990s when television content was funded by advertising, and media mogul Rupert Murdoch monopolised television rights. During this period, Sky offered customers channel broadcast at premium subscription, which other television channels, like ITV, took the first offensive to launch ON Digital in 1998, which was followed by the BBC’s Freeview, and other channels. (The Future of Internet Television 2006). Parallel to these attacks on broadcast satellite had been the revolution in personal video recorders (PVRs), during the 1970s. The PVRs allowed users to tape TV content indefinitely without copyright issues. When the PVRs gave way to DVDs, the demand for at home entertainment did not diminish but, in fact, increased manifolds as users could now use electronic programming guides (EPG) to record television programs in high-quality broadcast that was made possible by digital television (The Future of Internet Television 2006). Digital television was an equipment revolution rather than broadcast, as it allowed higher quality content to be transmitted from the standard definition television (SDTV or Digital Video Broadcast) to high definition television (HDTV or ATSC or ISDB), as it gradually has eaten up mainstream analogue signal broadcast and replaced it with high-definition channel broadcast. Although currently ATSC and ISDB standards are being used at high cost of implementation, nevertheless, it has become the trend as HD-DVD and Blue Ray have become part of this mainstream broadcast technology. These new technologies of the 1990s and 2000s have made digital transformation from broadcast satellite to digital networks, and the Internet, possible (The Future of Internet Television 2006). Current Internet Television Today, there is no limitation to watching television anywhere one can imagine on the plane, in the kitchen, on the mobile phone, on walkways and even in the car, all made possible by the convergence of the Internet media and television broadcast technologies. Media convergence and interactivity have not only changed the cultural trend of television experience but also its functionality. The main emphasis is on viewer accessibility and near-video-on-demand (NVOD), which offers users the choice to watch broadcast content without the physical limitation of broadcast transmission to designated equipments or timing. Hence, the experience of watching television is no longer regarded as broadcast as it has changed its features from static to interactive, with different converged media functions. The computer furthered this technology of interactivity, while the Internet revolutionized the challenge of meeting user demand for a different type of experience (Crisell 2002). High-speed peer-to-peer sharing systems have enabled users to share files of TV shows, PVRs, VOD, and made watching TV on mobile devices possible. For these reasons, ISPs (Internet Service Providers) have also geared their networks to facilitate high-speed downloads through BitTorrent or such systems as they realized they need to capitalize on the shifting trend of watching television during primetime to all the time. Users prefer to watch TV at their ease and access it whenever their lifestyle allows them. With PVRs they are able to queue programs to be recorded, skip advertisements and watch ongoing broadcasts. The need to have an interactive medium has become more pronounced as technologists vie the Internet as the ideal medium for users to download compressed VODs and broadcast television programs. In the UK, this trend has gained popularity as users indicated their desire to watch popular programs and, at the same time, browse the Internet resources for new TV content and films (Brown and Barkhuus 2006). Delivering quality Internet TV service has become possible with a combination of two key developments: high-speed internet and compression technology. TV programs, when converted from analogue through Pulse Code Modulation (PCM) to digitized information files, they become extremely large, especially if they are high in resolution of pictures. Distribution of these audiovisual files over the Internet has become difficult, as the file would be too heavy for it to be transferred through the network. Even though digitization of TV, PVRs and DVDs reduced the size of such video streams, nevertheless, they still pose a challenge for ISPs. JPEG, MPEG (Motion Pictures Expert Group) and AVC (advanced video coding) video compression technologies, which were introduced by Microsoft to be integrated with Windows Media Video (WMV) to facilitate computer users to share high definition programming, emerged as the new format for audiovisual file interchange (Keen 2006). These files use Discrete Cosin e Transform (DCT), Discrete Wavelet Transform (DWT) in Dirac codec and Fractual Compression compression processes for streaming. Unlike conventional broadcasting transmission, streaming involves progressive downloading of audiovisual files without having to wait for its complete download for playback. Audiovisual files can be streamed on the Internet on-demand (stored on server, available on request) or live (available at particular time such as life events). Streaming requires a high-speed Internet connection without traffic jams because the content cannot be streamed if the end user is carrying other traffic with the stream. Currently, only shorter TV content is offered for streaming (YouTube, Google Video), while longer and high quality contents such as shows and films are offered for download on request (MovieLink, CinemaNow, Sky By Broadband) (Keen 2006). Previously, Internet audiovisual media content used dedicated software applications such as Microsoft Windows Media, RealVideo and QuickTime for playback that was separate from web browsers. Later applications, like Flash Players, allowed integrated streaming within the web browser, which makes it cost effective, as well as relatively easier for users to access broadcast content through Internet distribution (Keen 2006). Television content streaming uses the same applications with added features. Applications like Apples iTunes, Chinese program PPLive and BBCs MyBBCPlayer allows television broadcasters to select programs for online streaming. As more and more television companies are transitioning online with new contents for streaming, users prefer to watch Internet TV than conventional television. To facilitate even more efficient peer-to-peer connections, the Internet architecture has been revolutionized for data transfer (The Future of Internet Television 2006). This has been ach ieved by specialist bandwidth providers called Content Distribution Networks (CDNs), which ensure streamlined and optimal content distribution through remote servers to client PCs without the hindrance of traffic jams. Companies like CacheLogic, Kontiki, and Grid Networks have been responsible for revolutionizing the commercial deployment of high-quality streaming services for Internet Television (Keen 2006). Future of Internet TV Broadcasting Broadcasting companies and TV operators in the last decade, according to Arino and Marsden (Brown and Picard 2005), have capitalized tremendously on the growth of the Internet to draw audiences away from traditional television broadcast. For some, the Internet may have been the reason for the demise of the conventional broadcast TV, while for others this new media is the new platform for digital TV. Internet TV is no longer about watching streamed programs from broadcast TV web sites. In fact, according to Noll (qt in Gerbarg, Groebel and Noam 2004), Internet TV has come to be defined as a television interface based on an interactive Internet platform for storage and transmission of audiovisual content streaming, as well as web activities. Thus, the future of the Internet TV involves Internet-enhanced TV that delivers both TV content, as well as web-based content. Convergence will no longer be limited to listening radio and watching downloaded content, but will also encompass chattin g, messaging, conversing with hosts and participants of TV programs, and programming of content through complex transmissional services, consultational services and interactive television links (Arino and Marsden qt. Brown and Picard 2005). With the increase in broadband usage in the UK, it is expected that Internet TV services shall increase manifolds, which will make high quality digital movie file streaming available from various websites with lesser costs. New technologies like webified video are expected to revolutionize next generation storage TV, to convert web content as well as TV programs to integrated information retrieval media for interface and interactivity (Miyamori and Tanaka 2005). Similarly SURFs (Simple UI to Retrieve Favourites) systems are being explored for transforming TV content into information portals which will allow users to interact with electronic devices within the household. The idea is to integrate TV with Internet content by allowing users to use unconventional remote controls to interact with the Internet TV platform (Halverson and Voutsas 2000). Contents may range from watching VODs, or news content or browsing the Internet. Not only this, but it is expected that the future holds new dimensions for the meaning of interactivity. Speech recognition and interactivity, according to Wittenburg et al (2006), is the next revolutionary interface for current prototype PVRs. These shall be used in conjunction with Internet TV to change the whole experience of interacting with TV and the Internet. Conclusion From the above discussion, one can conclude that the process of Internet and television convergence has revolutionized the experience of watching television. Convergence of these individual technologies has been possible with the developments of technologies in compression, streaming, digitization, and playback applications. However, to think that the revolution has stopped there is a mistake. As one reads in the above section, the development of Internet TV is not complete. The mix of Internet television services through chats, browsing, downloads and networking have yet to become even more revolutionized in the future as new technologies related to interface devices, broadband networks, and television content conversions become more common for all to be used. There is no doubt that Internet TV has affected the lives of its users as well as those who developed it. What makes this revolutionary unique is the fact that it has also influenced other dimensions of entertainment and infor mation interactivity. For example, companies are exploring broadcasting dimensions using mobile phones, voice-activated interface, and information interchange technologies for viewing and interacting, not on conventional tube TV or PCs but on small mobile devices. Indeed, the future of Internet TV is not limited to its conventional infrastructure but rather shall reside in new ones. References Arino, M. and Marsden, C. (2005) From Analogue to Digital in Digital Terrestrial Television in Europe by Allan Brown and Robert G. Picard (eds) Lawrence Erlbaum Associates: Mahwah, NJ. Brown, B. and Barkhuus, L. (2006) The Television Will Be Revolutionized: Effects of PVRs and Filesharing on Television Watching. CHI April 22-27 ACM 2006. Combat One. (2006) The Future of Internet Television Combat One. Online accessed on 4-12-2006 from: http://www.combatone.com/fullreport.php Crisell, A. (2002) An Introductory History of British Broadcasting. Routledge: London pp.275. Halverson, C. and Voutsas, D. (2000) SURFing the Home with Your TV. ACM Multimedia Copyright. Ippolito, L. and Pelton, J. N. (2004) Satellites Technology: The Evolution of Satellite Systems and Fixed Satellite Services in Communications Satellites: Global Change Agents by Peter Marshall, Robert J. Oslund and Joseph N. Pelton (eds). Lawrence Erlbaum Associates: Mahwah, NJ. pp. 33 Keen, B. (2006) Broadband delivery of film and TV content over the open internet. 09 October. The British Screen Advisory Council. Miyamori, H. and Tanaka, K. (2005) Webified Video: Media Conversion from TV Program to Web Content and their Integrated Viewing Method. ACM Copyright May 10-14, Chiba, Japan. Noll, A. M. (2004) Internet Television: Definition and Prospects in Internet Television by Darcy Gerbarg, Jo Groebel and Eli Noam (eds) Lawrence Erlbaum Associates: Mahwah, NJ. Wittenburg, K. et al (2006) The Prospects for Unrestricted Speech Input for TV Content Search. AVI 06, May 23-26, 2006, Venezia, Italy. ACM Copyright.