Market Analysis for Nature Derived Foods

Background: Newway Biotech LTD is a UK-based food startup specialising in innovative, nutritious snacks. The company has recently launched a new product line: mushroom-based nutrition crisps with high levels of vitamin D and essential minerals. These crisps are designed to cater to health-conscious consumers looking for tasty yet nutritious snacking options. Despite being new to the market, Newway Biotech LTD aspires to make a meaningful impact on the UK's competitive crisps market by securing a 0.1% market share within the next 12 months.Objective: The objective of this assignment is to develop a strategic plan for Newway Biotech LTD that outlines how the company can capture 0.1% of the UK crisps market within a year. You will analyse market conditions, identify target audiences, and propose strategies for distribution, promotion, and growth. The strategies must be feasible, data-driven, and aligned with Newway Biotech’s brand values and product strengths. Your report should cover the following key areas:

1. Market Analysis
   • Conduct a situational analysis of the UK crisps market. Include an overview of current market trends, consumer preferences, and competitive landscape
   • Assess the position of health-focused snacks within this market. How does Newway Biotech’s product align with consumer trends?
   • Identify the key consumer segments that Newway Biotech should target. Justify your choice with demographic, psychographic, and behavioural insights
2. Competitor Analysis
   • Analyse direct and indirect competitors. This should include mainstream crisps brands, as well as any niche, health-focused snack companies
   • Identify key strengths and weaknesses of competitors and explain how Newway Biotech’s product can stand out in this competitive space
3. Marketing Strategy
   • Develop a positioning statement for Newway Biotech’s crisps that highlights its unique selling points (e.g., high vitamin D content, and mushroom-based ingredients)
   • Propose a brand message that resonates with the target audience and reinforces the health benefits and taste appeal of the product
   • Define marketing channels to use for reaching the target audience, considering both online and offline options (e.g., social media, influencer partnerships, in-store promotions)
4. Sales and Distribution Strategy
   • Suggest an approach for introducing the product to key distribution channels. Should Newway focus on supermarkets, health food stores, online platforms, or a combination?
   • Outline potential sales partners or distribution platforms that could increase product visibility and accessibility
5. Promotional Plan
   • Design a one-year promotional campaign that leverages a mix of advertising, public relations, and promotional tactics
   • Consider creative tactics that would engage health-conscious consumers, such as sampling events, social media challenges, or collaborations with nutritionists and wellness influencers.

InnoMinds' Insights

The following frameworks and data sources might be relevant to your project:PESTEL Analysis:  You can use PESTEL to understand market conditions and trends that might influence consumer demand for health-focused snacks, such as regulatory changes in food labelling, economic factors influencing spending on premium snacks, and social shifts towards health-conscious eatingSTP Model (Segmentation, Targeting, Positioning): is useful for identifying key consumer segments for mushroom-based crisps, defining Newway’s target market, and crafting a positioning strategy that differentiates Newway as a nutritious, delicious alternative to traditional crisps4Ps of Marketing (Product, Price, Place, Promotion): You can explore strategies for each “P” tailored to Newway’s market entry, from product differentiation (focusing on the nutritional profile) to setting a competitive price, choosing the right distribution channels (e.g., health food stores, online platforms), and effective promotional tactics for raising brand awarenessAIDA Model (Attention, Interest, Desire, Action): Useful for designing promotional strategies, students can outline how Newway can grab consumer attention, generate interest in the crisps’ health benefits, create desire through brand messaging, and drive purchasing decisions

Potential Data Sources:

1. Market Research Reports & Industry Data:

These platforms provide in-depth reports on the UK snack food industry, including market size, trends, consumer preferences, and competitive landscapes. They often include data on health-conscious snack products, which is highly relevant for Newway’s positioning.

1. • Statista
   • IBISWorld
   • Eurostat
   • Mintel
   • EuroMonitor
2. Government & Educational Data:
   • UK Office for National Statistics (ONS): Provides data on consumer spending patterns, food industry production, and economic factors that could impact consumer behavior
   • British Nutrition Foundation and Public Health England: These organisations publish reports on nutrition trends, public health initiatives, and food guidelines, which can help students understand the growing demand for health-focused products
   • Food and Drink Federation (FDF): As a leading industry body, the FDF publishes reports and insights into the UK food and beverage market, including trends in healthy eating and consumer demand for nutrient-enriched products