Fresh Bowl SaladCamila Fernandes Bento

Lynn University

Summary

Vision Statement……………………………….……………………………………….…………………03

Product Definition…………………………….……………………………….………………………….04

Setting Product Strategy………………….……………………………….……………………………05

Product Characteristics…………………….……………………………………………………………06

Product Classifications…………………….……………………………………………………….……09

Product & Services Differentiation…….………………………………….…………………………10

Pricing…………..……………………………………………………………………………………….……12

References……………………………………………………………………………………………….….16

Food Revolution

• Fast food is an industry that moves this country’s eating habits.

• I believe the Fresh Bowl Salad approach is the future of fast food.

• I want to build a world where the fastest, most convenient, most

accessible, most affordable food is healthy and flavorful food.

• The food landscape will change…

“A market is never saturated with a good product,but it is quickly saturated with a bad one.”

Henry Ford

A product is anything that can be offered to a market to satisfy a want or need,

including physical goods, services, experiences, events, persons, places, properties,

organizations, information, and ideas. The customer will judge the offering by three

basic elements: product features and quality, services mix and quality, and price,

which must be meshed into a competitively attractive offering. (Kotler & Keller,

2012, p. 144)

Fresh Bowl Salad is a place where you can have your fast food lunch and dinner.

Fresh Bowl Salad promotes healthy fast food options for you and your family.

On Fresh Bowl Salad website you can have information about our sourcing & nutrition.

Fresh Bowl Salad offers different types of salads for a reasonable flat price.

You can enjoy your salad in a store or order online.

Product Strategy

Product Characteristics

In planning its market offering, the marketer needs to address five product levels

(see figure). Each level adds more customer value, and the five constitute a

customer-value hierarchy. The fundamental level is the core benefit: the service or

benefit the customer is really buying. (…) At the fifth level is the potential product, all

the possible augmentations and transformations the offering might undergo in the

future. (Kotler & Keller, 2012, p. 144)

Core Benefit

Product Characteristics – Fresh Bowl Salad

Core Benefit

Fresh Bowl Salad as afast food option forlunch and dinner.

Basic product

Fresh Bowl Salad as a fast food option for lunch and dinner.

Expected product Augmented product Potential product

Fresh Bowl Salad as a fast food option for lunch and dinner.

Fresh Bowl Salad as a fast food option for lunch and dinner.

Fresh Bowl Salad as a fast food option for lunch and dinner.

Fresh Bowl Salad offers different types of green leaves, vegetables, legumes, and spices.

Fresh Bowl Salad offers different types of dressings.

Fresh Bowl Salad offers different types of dressings.

Fresh Bowl Salad offers different types of dressings.

Fresh Bowl Salad offers different types of green leaves, vegetables, legumes, and spices.

Fresh Bowl Salad offers different types of green leaves, vegetables, legumes, and spices.

Fresh Bowl Salad offers different types of green leaves, vegetables, legumes, and spices.

You can add dried fruits, nuts, grains, seeds, and beans in your Fresh Bowl Salad.

You can add dried fruits, nuts, grains, seeds, and beans in your Fresh Bowl Salad.

You can add protein in your Fresh Bowl Salad.

Fresh Bowl Salad

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… Potential product: all the possibleaugmentations and transformationsthe offering might undergo in thefuture:• Non-GMO-Protein Fresh Bowl Salad;• Gluten-free Fresh Bowl Salad;• Dairy-free Fresh Bowl Salad;• Vegan Fresh Bowl Salad;• Organic Fresh Bowl Salad;• Gourmet Fresh Bowl Salad;• Mediterranean Fresh Bowl Salad;• Italian Fresh Bowl Salad;• Middle East Fresh Bowl Salad;• Mexican Fresh Bowl Salad;• Greek Fresh Bowl Salad;• Etc.

…

Product Classification

“Marketers classify products on the basis of durability, tangibility, and use (consumer or

industrial). Each type has an appropriate marketing-mix strategy” (Kotler & Keller, 2012, p. 145).

Durability and Tangibility

• Purchase frequently, the best strategy is to make these products available in many locations, charge a small markup, and advertise to provoke trial and build preference.

Consumer-goods Classification

• Classified corresponding to shopping habits. These products include convenience goods, shopping goods, specialty goods, and unsought goods.

Industrial-goods Classification

• Raw materials, materials and parts, natural products, manufactured materials and parts, capital items - as installations and equipment, supplies, and business services.

Product and Services Differentiation

Buyers clearly weigh in with direct brand comparisons every day. Decisions take

place in a mental marketplace where a noisy exchange of thoughts, emotions, and

judgments rumble over words (...). That mental maneuvering adjusts itself among

mall walls, web-site visits, office calls, and shops where advertisers, salespeople, and

marketers all shout, “Go for it!” (Anselmo, 2010, p. 25).

“To be branded, products must be differentiated. Marketers face an abundance of

differentiation possibilities, including form, features, customization, performance

quality, conformance quality, durability, reliability, reparability, and style.” (Kotler &

Keller, 2012, p. 146)

Fresh Bowl Salad – Differentiation

At a time when salads were considered by most to be just a side dish,

Fresh Bowl Salad believed delicious, fresh salads could take center stage.

The lettuce would be cool and crisp, and the dressings would be made

from scratch in small batches, so that the textures and flavors came

through in every bite. Fine quality and creativity food.

Our salads are inspired by culinary traditions around the world.

At Fresh Bowl Salad we craved better!

Pricing

Price is the only element that produces revenue; the others produce costs. In setting

pricing policy, a company follows six steps: select price objective; determine demand;

estimate costs; analyze competitors' costs, prices, and offers; select a pricing method;

and select the final price. (Kotler & Keller, 2012, p. 194)

Market based pricing takes into account the current situation in the market with regard

to your competitors, customers and competitive position. Your aim is to balance product

attractiveness with customer value. Cost based pricing begins with your actual costs to

make the product and your desire profit margin. This tends to be used in markets where

there is little product differentiation (commodity markets). (Anselmo, 2010, p. 70)

Pricing Strategy – Fresh Bowl SaladR

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ce • 3 types of leaves

• Up to 4 toppings

• Olive oil

• Spices

• Dressings

Ad

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xtra

s –

Ad

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st • Dried fruits

• Nuts

• Grains

• Beans

• Seeds

Ad

din

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xtra

s –

Ad

d P

rote

in C

ost • Cheese or Eggs

• Chicken

• Beef

• Pork

• Fish

Included: Additional each: Additional each:

Pricing – Smart Strategies

Pricing has moved with the times (…). It is not enough to be cheapest anymore. Your

consumers need to think they are getting an awesome deal by buying your product. That

“deal” might me in straight-out monetary terms, or based on prestige-of-ownership or the

fear of missing out – or a variety of hidden persuaders. Sometimes factors as innocuous as the

font size of the price tag or the color in which the price is mentioned, or even the

presence/absence of the dollar sign, can mean the difference between a sale and a missed

opportunity. (Ayyar, 2015, para. 4)

Pricing is a lot more than cost plus margin or matching competitors' prices by lowering yours

just a tad bit. Buy thinking like a buyer instead of a seller, you can zero in on interesting and

profitable pricing strategies tailor-made for your business that have the added benefit of

setting you apart from the competition. (Ayyar, 2015, para. 23)

Pricing Smart Strategy – Fresh Bowl Salad

Fresh Bowl Salad menu dropped the dollar sign.

According researchers from Cornell University’s

School, the absence of dollar signs takes the

pressure of spending off the consumer’s minds,

leading to them spend higher amounts.

“The very mention of dollars, whether expressed

in symbols or in words, reminds users of the

expense they stand to incur and makes them hold

back their spending.” (Ayyar, 2015, para. 22)

XX

References

Anselmo, D. (2010). Marketing Demystified. McGraw-Hill Companies, Inc., US.

Fresh Bowl Gourmet Salads. Retrieved February 06, 2016, from http://freshbowl.com.br/

Kotler, P. & Keller, K. L. (2012). A Framework for Marketing Management (fifth edition). Pearson

Education, Inc., Upper Saddle River, NJ: Pearson Prentice Hall.

Mackay, C. (2011). Effective Marketing. Catriona, In Easy Steps Limited, UK.

Smart Pricing Strategies for Generating Higher Conversions. Articles. Retrieved February 07, 2016,

from http://marketingprofs.com/