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MARKETING STRATEGY 468: General Mills -- Project Bowl Appetit

MARKETING STRATEGY 468: General Mills -- Project Bowl Appetit. Team 11 (Section 201)  Lillian Lilly Jorge Tessey Gabriel Michalup Hide Tomita Amrit Shergill Zoya Trofimenko. Agenda. Consumer Survey – the first step What Two Progresso-branded products for two market segments

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MARKETING STRATEGY 468: General Mills -- Project Bowl Appetit

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  1. MARKETING STRATEGY 468: General Mills -- Project Bowl Appetit Team 11 (Section 201)  Lillian Lilly Jorge Tessey Gabriel Michalup Hide Tomita Amrit Shergill Zoya Trofimenko

  2. Agenda • Consumer Survey – the first step • What • Two Progresso-branded products for two market segments • One also co-branded with Pillsbury • Product Concept Testing • Why • Industry • How • Marketing Strategy • Result • Revenue Projections • Q & A

  3. Our Consumer Survey 52 Respondents asked about ready-to-eat meals. Result? • Women are more concerned about nutrition than men. 50% of Male respondents “didn’t care” vs 24% of women. • However, nutrition is trumped by convenience in reason for purchase ready-to-eat meals. • Top nutritional concerns are fat, calories, with sodium distant 3d. • Campbell’s soup is the product most frequently purchased by women in the last 6 months (55%) • 50% of married respondents eat ready-to-eat food for lunch while 77% of singles eat it for dinner. • General Mills brands associated with ready-to-eat: Hamburger Helper & Progresso

  4. Progresso Chili & Chips Progresso Lunch-to-go! Our Two Solutions

  5. Product 1: Progresso Chili & Chips

  6. Product 1: Progresso Chili & Chips NEED/VALUE PROPOSITION Hearty eaters need a quick, healthy, easy-to-prepare meal, all in one package. OFFERING 15oz. Progresso Bean Chili + Tortilla Chips (each part in self-contained bowl – snaps together as one package) Price: $2.89

  7. Concept Testing - Chili Key Results: • The Progresso Brand preferred, followed by Hormel • Surprising result –initial product concept was Old El Paso branded but consumers strongly preferred Progresso • 70% of those surveyed would try the product • Most said it appealed to single men and kids • Consumers overwhelmingly described it as “complete”, “convenient” and “appealing” • Equally associated with dinner and lunch • 70% willing to pay between $2.49 and $2.89 • Majority preferred name “Chili & Chips”

  8. Product 2: Progresso Lunch-to-Go

  9. Product 2: Progresso Lunch-to-Go NEED/VALUE PROPOSITION Busy women need a quick, healthy, easy-to-prepare lunch, all in one package. OFFERING 12 oz. Progresso 99% Fat Free soup in a bowl + 2 Pillsbury breadsticks or one bread twist + Plastic spoon and napkin already in package Price: $2.49.

  10. Concept Testing - Soup Key Results: • Progresso and Campbell’s close in recognition/ preference • Soup with breadstick, all in one package, would appeal to busy women • The product was described as quick, convenient, high quality • Concern about sodium, fat, and presence of meat • Consumers associated it primarily with lunch at work, with dinner at home as second use • 80% of them were willing to pay up to $2.49 • Majority preferred “Lunch to go” name over “Complete”

  11. Chili Industry • 85% of consumers surveyed in 1999 considered Chili as a meal. • Sales revenue growth 25% over last 3 years • New products introduced cater to adults, oriented around nutrition, eg chili ready meals (cans, dried in a pouch). • Most popular type is “regular” chili with beans.

  12. Soup Industry • Overall 4% decline in soup market forecast, but three segments are growing: • “Soups away from home” • Ready-to-serve soups (more likely to be premium soups) • Menu items in restaurants. • Biggest concerns are time, convenience, and ease of preparation

  13. Competitors SOUPS: • Campbell Soups, Knorr soups (Unilever), Healthy Choice, Advantage/10 Soups (light soups from ConAgra). • Campbell’s Soup Co ranked as the number one manufacturer overall in 1999, with a market value share of 54.8%. CHILIS: • Hormel, Armour Star Chili, Wolf & Stagg. • Hormel is the leader with 14% of the market share

  14. Marketing Strategy a) Leverage Market-Based Assets: • Progresso Brand Equity: Enjoys customer loyalty and brand awareness, perceived as having innovative new flavors • General Mills’ Knowledge: Extensive knowledge about customer profiles, suppliers and channels

  15. Distribution – Chili Aisle Placement for our product

  16. Distribution – Soup Aisle Placement for our product

  17. Progresso Marketing Strategy c) Pricing Strategy: Price High Medium Low High Bear Country Progresso Kits Quality Mediu m Uncle Ben’s Kraft Mc Pasta Campbell’s Low Bowl Appétit! Maruchan • High-value strategy: High-quality product at an average price. We consider that our target customers are price sensitive since they can easily compare the quality and price of substitutes.

  18. Chili Revenue Forecast Revenues are in US$ Million

  19. Soup Revenue Forecast Revenues are in US$ Million

  20. Conclusion • Synergies created by GM and Pillsbury • Progresso high brand equity fits target markets -- young, quality conscious and growing • Products fill unserved market needs – healthy, quick hot food in a kit • Make optimal use of GM production and distribution networks

  21. Q & A

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