ASIA PACIFIC INSTITUTE OF INFORMATION TECHNOLOGY

IN COLLABORATION WITH
STAFFORDSHIRE UNIVERSITY UK

BA (Hons) in Business Management/
BA (Hons) in International Business Management



Individual Assignment

BLB10151-2 Marketing in Practice

Prepared By
Nithya Lakpriya CB004822
IF13A1IBM

Date of Submission
30
th
May 2014

Instructor
Ms. Nilusha Gallage

Submitted in partial fulfillment for the degree of
Bachelor of Arts (Hons) in International Business Management

Word Count: 2107

MARKING CRITERIA MARKS % OBTAINED
Situational Analysis / 25
Marketing Objectives / 05
Marketing Strategy / 15
Marketing Mix / 35
Implementation & Control / 10
Creativity, Report Writing, Research & Referencing / 10
TOTAL (100%)


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Acknowledgements
I take this opportunity to express my gratitude to the people who have been helping me to
make this assignment a success. Mostly Im grateful to Ms. Nilusha Gallage for her support
and guidance to complete this assignment. I cant say thank you enough for your tremendous
support and help.
I thank Mr. Kaluarachchi for his guidance given in how to use MS Project which helped in
creating the Gantt chart.
I also thank my friends and family who helped me throughout this assignment.

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Table of contents
Acknowledgements ................................................................................................................................. 2
1.0 Situational Analysis ........................................................................................................................... 6
1.1 Business Opportunity .................................................................................................................... 6
1.1.1 Current market ....................................................................................................................... 6
1.1.2 Business idea .......................................................................................................................... 6
1.1.3 Mapping ................................................................................................................................. 6
1.2 SWOT ............................................................................................................................................. 7
1.2.1 Strengths ................................................................................................................................ 7
1.2.2 Weaknesses ............................................................................................................................ 7
1.2.3 Opportunities ......................................................................................................................... 8
1.2.4 Threats ................................................................................................................................... 8
1.3 Feasibility of business opportunity ............................................................................................... 9
2.0 Marketing Objectives ...................................................................................................................... 10
2.1 Business Objectives ..................................................................................................................... 10
2.2 Marketing Objectives 11
3.0 Marketing strategy .......................................................................................................................... 11
3.1 STP ............................................................................................................................................... 11
3.1.1 Segmentation ....................................................................................................................... 11
3.1.2 Targeting .............................................................................................................................. 12
3.1.3 Positioning ............................................................................................................................ 12
3.1.4 Perceptual mapping ............................................................................................................. 13
3.2 Growth strategy .......................................................................................................................... 14
3.3 Competitive stance ..................................................................................................................... 15
4.0 Marketing Mix ................................................................................................................................. 16
4.1 Product ........................................................................................................................................ 16
4.1.1 Offering ................................................................................................................................ 16
4.1.2 Brand .................................................................................................................................... 16
4.1.3 Product levels ....................................................................................................................... 17
4.1.4 Type of new product ............................................................................................................ 18
4.1.5 Product classification ........................................................................................................... 18
4.1.6 Differentiation ...................................................................................................................... 18
4.2 Price ............................................................................................................................................. 19
4.2.1 Pricing Process...................................................................................................................... 19
4.2.2 Promotional price tactics ..................................................................................................... 21
4.3 Place ............................................................................................................................................ 22
4.4 Promotion ................................................................................................................................... 23
4.4.1 Marketing communication process...................................................................................... 23
4.4.2 Examples for pre-launch communication tools ................................................................... 26
4.5 Process ........................................................................................................................................ 29
4.6 People.......................................................................................................................................... 29
4.7 Physical evidence ........................................................................................................................ 30
5.0 (I) Implementation .......................................................................................................................... 31
5.0 (I).1 Implementation process ...................................................................................................... 31
5.0 (I).2 Financial Budget for the launch plan ................................................................................... 33
5.0 (II) Control mechanisms .................................................................................................................. 34
Conclusion ............................................................................................................................................. 35
References ............................................................................................................................................. 36

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List of tables and figures
Tables
Table 1.1 Feasibility study..9, 10
Table 3.1 Segmentation...11
Table 3.2 Targeting.12
Table 4.1 Offering ..16
Table 4.2 Estimating cost20
Table 4.3 Selecting the pricing strategy..20
Table 4.4 Setting the final price..21
Table 4.5 Promotional price tactics.....21
Table 4.6 Design the message.24
Table 4.7 Select communication channels..24
Table 4.8 Establish marketing budget.25
Table 4.9 Decide on the promotional mix...26
Table 4.10 People....29
Table 5.1 Final budget........33
Table 5.2 Control mechanisms....34

Figures
Figure 1.1 Current market.6
Figure 3.1 Perpetual mapping.13
Figure 3.2 Ansoffs Growth Matrix14
Figure 3.3 Porters Generic Strategies15
Figure 4.1 Product levels17
Figure 4.2 Pricing Process..19
Figure 4.3 Marketing communication Process...23
Figure 4.3 Facebook advertisement ...27
Figure 4.5 Web banner28
Figure 4.6 Flyer...28
Figure 4.7 Process...29
Figure 4.8 Physical evidence (Food truck).30
Figure 4.9 Physical evidence (facebook page)30
Figure 5.1 Implementation Process.31
Figure 5.2 Gantt chart.32

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Marketing proposal for
Wrap it up
Prepared by:
Nithya Lakpriya


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Low Quality
On-the-go dining
In-house dining
1.0 Situational Analysis
1.1 Business Opportunity
Wrap it up is a street food truck which only specializes in sandwich wraps which is
basically a type of sandwich made with a soft Arabic flatbread rolled along a filling.
1.1.1 Current market
The working population; which is 45.9% of the total population in Colombo (Department of
Census and statistics, 2013) and university students in Colombo prefer on-the-go dining
rather than in-house dining since they have busy lifestyles. These categories of people seek
food on the way home which is fast and tasty.
1.1.2 Business idea
Wrap it up is a street food truck which serves food wraps which contains vegetarian and
non-vegetarian fillings of Arabic, American, Mexican and Chinese cuisines.
Food truck is a new concept to Sri Lanka, where dining experience is taken to the customer
which satisfies customers busy work schedules. The author hopes to start up the business
with two food trucks which will be expanded later.
The target market of the business is the working population and university students who seek
food on-the-go after work hours, after lecture hours and during the lunch hour. So the trucks
will be travelling from place to place within Colombo where the demand is high at different
times of the day. Mostly the trucks will be parked near the race course and near Majestic city
where the concentration of the target market is high.
1.1.3 Mapping







Open Occupied
Occupied Open
Figure 1.1 Current market
Source: Authors work, 2014


High Quality
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1.2 SWOT
1.2.1 Strengths
Window of opportunity- Wrap it up sells vegetarian and non vegetarian food wraps
in a food truck which is a new concept to Sri Lanka which delivers the customers, on-
the-go food experience.
Proximity to customers- Food truck will be serving quality food which customers can
easily buy for a reasonable price and can be easily handled on-the-go which is
convenient customers who have busy lifestyles.
Strategic locating- The two food trucks will be traveling around Colombo and will be
mostly parked near the race course and near Majestic city where the concentration of
the target market is high.
Specialist knowledge- The entrepreneur has the knowledge in the field of business
management which was gained through completing a business degree which helps in
managing the business.
Professional help- The entrepreneur has contacts through her family with professional
chefs who have agreed to help with manufacturing of products.
Reliable business partners- The raw materials suppliers for the food truck will be
entrepreneurs relations which will make them reliable business partners.
1.2.2 Weaknesses
High investment cost- To purchase two food trucks the cost will be high.
Lack of expertise- The entrepreneur has only general knowledge about cooking so she
should entirely depend on the professional assist when preparing food in the truck.
Limited product range- Initially the food truck serves only seven different types of
food wraps and customers may seek for more customized food wraps.
Limited stock- Since Wrap it up is a food truck, there will be an issue of storing raw
materials in large scale, inside the food truck which might affect the supply for
unexpected rise of demands.
Novelty is less- Similar products are available in the market in small scale in some
restaurants and cafes. So the novelty of is comparatively less.



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1.2.3 Opportunities
Changing lifestyle- According to Economic and social statistics of Sri Lanka, 2012,
the workforce of urban areas is 44% which proves that people have busy lifestyles and
they prefer on-the-go dining rather than in-house dining.
Stable economy- Since 2009, there has been a stable inflation rate of 6.0% (CBSL,
2013) which proves the capability of buying in potential customers.
Only supplier power- Since, food truck is a new concept in Sri Lanka, the
entrepreneur will have the opportunity to attract customers.
Easier expansion- Since the business will be carried out using food trucks; expansion
of the business can be easily done by purchasing more trucks.
Social media- Currently, there are more than 1.5 million facebook monthly active
users (Student Sri Lanka, 2014) which shows people are fairly active on social media
which will help to create awareness among potential customers through social media.
1.2.4 Threats
Existing competition- Food wraps are available in food outlets such as Mango,
KFC and Dine more which is a major threat for the business.
Me-too competition- A food truck named Kottuville was opened recently which
was the first food truck to be opened in Sri Lanka. (Daily FT, 2013). These new me-
too competition is a threat for Wrap it up.
Laws and Regulations of the country- According to ministry of Defense and urban
development, 2014 there are rules and regulations such as Regulation 13 which states
rules for parking, which will limit the areas the food truck can cover.
Fluctuations in the food industry- In Sri Lanka the inflation in the food industry is
4.7% for January 2014 which will affect the prices of food wraps with varying costs
(Trading economics, 2014).
Health concerns- As a new trend in Sri Lanka people are being more health conscious
and seek for healthy food rather than street food. This is a major concern for Wrap it
up which serves food wraps which categorize under fast food.
The above SWOT analysis proves strengths and opportunities are much stronger than the
weaknesses and threats of the business. Weaknesses can be overcome in the long run by
using strengths of the business. Thus above discussed opportunities and strengths show that
this business is capable of surviving in the current market and also capable of expanding
easily in the future.
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Product items On the go food wraps
Demand Growing
Market Working population and university students
Value Affordability
Quality fresh food
Special Attributes Convenience
Strategic locating


Key buyers Working population and university students in
Colombo
Market size 1,338,211 (Working population of urban
areas)
Purchasing power Moderate
Buying behavior Purchased as lunch or evening snack
Type of customers People who have busy lifestyles
Customer reaction Favorable


Industry size Large
Growth rate Moderate
Life cycle stage Maturity
Competition High (restaurants)
Low (Kottuville food truck)
Number of new entrants Low
Barriers to entry Low

1.3 Feasibility of business opportunity
High product feasibility






High market feasibility







High Industry Feasibility






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Business and Managerial experience Moderate
Required skills Moderate
Energy and motivation High
Source of advice and support High
Resources to launch Sufficiently available
Risk appetite High
Funding for first two years Available to some extent

High organizational feasibility







After reviewing the feasibility study of the business, it proves that Wrap it up is feasible to
launch because of the rising market demand for the on-the-go food industry and also proves
that the business is worth investing.

2.0 Marketing Objectives
2.1 Business Objectives
To launch Wrap it up food truck by 25
th
July 2014.

To cover up the initial investment Rs.8, 000,000 by December 2016.

2.2 Marketing objectives
To commence promotional activities to create awareness about Wrap it up by May
2014.
To sell 300 food wraps per day (150 food wraps per each truck) during first 3 months.
To increase up to five food trucks by December 2016.



Table 1.1 Feasibility study
Source: Authors work, 2014


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Bases 1
School children
2
Youth/University
students
3
Working population
Demographic
Age
Income(Rs)

14-18
16,000 - 57,500

19-25
16,000 - 57,500

25-60
16,000 - 57,500
Geographic
Cities
Density
Climate

Colombo
3438
Dry climate (without
rain)

Colombo
3438
Dry climate (without
rain)

Colombo
3438
Dry climate (without
rain)
Psychographic
Lifestyle
Social class
Personality

Passive lifestyle
Middle class
Not concerned

Fitness lifestyle
Middle class
Averagely concerned

Healthy lifestyle
Middle class
Highly concerned

Behavioral
Attitude
Occasion


Not concerned
Regular


Positive
Regular


Enthusiastic
Regular

3.0 Marketing strategy
3.1 STP
3.1.1 Segmentation
The market segments for Wrap it up food truck are identified by considering the high
possibilities of achieving set objectives. The food truck will be targeting consumers by
considering them individually. School children, youth and adult population are the main
segments considered by the business.

Table 3.1 Segmentation
Source: Authors work based on Kotler and Keller, (2006)


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3.1.2 Targeting



Wrap it up food truck will be using a differentiated market strategy when selecting the
target market after evaluating all the factors. The selected segments after evaluating are the
working population (segment 3) and the youth/University students (segment 2) in Colombo.
These segments are selected because the expected profitability is relatively high and also the
low competition which is advantageous considering company objectives.

3.1.3 Positioning
Positioning statement- Wrap it up- Grab on the go


The positioning statement clearly gives the idea of on-the-go food experience for customers
delivered by the business.
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3.1.4 Perceptual mapping




















The above perpetual map indicates existing competitors in the market for the business and it
gives an idea about their quality and the price of the product served from the consumers
perspective. Wrap it up is positioned as high quality moderate priced relative to its
competitors.

Dine More
The Mango tree
The Sandwich Factory
La Fiesta
Elite
Wrap it Up
Panino
Arabian Knights
HIGH PRICE
HIGH QUALITY LOW QUALITY
LOW PRICE
Figure 3.1 Perpetual mapping
Source: Authors work, 2014


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3.2 Growth strategy


Wrap it up will be conducting promotional campaigns to attract potential customers and to
stabilize the brand in the market during first six months.
After initial six months, the business will be selecting the market penetration strategy where
the product range or the market will not change. The growth of Wrap it up will be through
increasing number of food trucks to five trucks which will be initially started with two. These
new trucks will target on the same market segments, covering the same area (Colombo) more
widely and serving the same products.





Figure 3.2 Ansoffs Growth Matrix
Source: Authors work based on, Fahy and Jobber, (2012)


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3.3 Competitive stance



Wrap it up will follow differentiated focus strategy where the business will only focus on
unique food wraps which are sold in food trucks around Colombo. Since the food truck only
focuses and specializes on food wraps with unique fillings which are made out of Arabian flat
bread, it possesses a competitive advantage over other indirect competitors. Also food wraps
are sold in food trucks from which busy professionals and university students can buy on-the-
go very conveniently which gives a very high competitive advantage.






Figure 3.3 Porters Generic Strategies
Source: Authors work based on, Capon (2008)


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4.0 Marketing Mix
4.1 Product
4.1.1 Offering
Wrap it up food truck offers food wraps of unique flavors. These food wraps are
sandwiches freshly made with white/brown soft Arabic flatbread, rolled along seven different
fillings of Arabic, American, Chinese and Mexican cuisines.


4.1.2 Brand




The brand name Wrap it up followed by the positioning statement, Grab, on the go clearly
conveys what type of products are being sold in the food truck and it creates curiosity in
customers mind. The food truck will be painted in red and white and the logo will be in
orange which will create a permanent image of the truck in customers mind because of the
distinctive colors.
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4.1.3 Product levels






















Core product
Satisfy instant hunger
On the go food experience
Basic product
Food wrap which is made out of Arabic flat
bread with a filling of vegetarian or non
vegetarian of Arabic, American, Mexican or
Chinese cuisines.
Expected product
Hygienic
Tasty
Value for money
Quality
Easy to handle/eat
Augmented product
Unique flavors of the food wrap filling
which includes secret spice mix with a
homemade flatbread (white/brown) which
the food truck specializes in
Potential product
Addition of Indian and Italian cuisines
Addition of wraps with sweet fillings with
sweet flatbread
Figure 4.1 Product levels
Source: Authors work based on Kotler and Keller, (2006)


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4.1.4 Type of new product
Food wraps already exist in the market in small scale. However, food wraps delivered by
Wrap it up will be distinctive to me-too products already existing in the current market by
its unique flavors and the service provided (food truck). Hence, the product delivers from
Wrap it up classifies under imitative product.

4.1.5 Product classification
Food wraps are classified under fast food which is immediately and frequently purchased by
customers. Hence, food wrap is a convenience product.

4.1.6 Differentiation
Wrap it up only delivers and specializes in food wrap which are unique in flavor. These
wraps are also delivered through food trucks which gives a differentiation for the business
and the product from its competition.












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4.2 Price
4.2.1 Pricing Process

Selecting the pricing objectives
To prevent a loss making situation
To acquire a break-even level within one and half years of launching the business
by selling a target of three hundred food wraps per day for the first six months
To maximize profits in the long run
To match the activity of the competitors by concentrating on high product quality

Determining demand
The demand for this product can be identified as elastic since its sensitive for price
fluctuations in the market. A food wrap has relatively high number of substitutes available
in the market which affects the price extensively which leads to an elastic demand.

Estimating cost
Vegetarian food wrap Rs. 106
Non vegetarian food wrap Rs. 136
(Refer table 4.2)

Analyzing competitors costs, prices and offers
Competitor Price of the product
Dine-more Rs. 150 Rs. 250
Arabian Knights Rs. 200 Rs. 300
The Sandwich Factory Rs. 300 Rs. 400
The Mango tree Rs. 400 Rs. 550
Panino Rs. 550 Rs. 700


Selecting the pricing strategy
Initially Wrap it up will follow penetration pricing strategy to retain customers. A
medium price will be set and retained for the first six months to stabilize in the market and
speed up the growth phase. Since the focus strategy of the business is differentiation and
the growth strategy will be market penetration, the most ideal approach would be medium
value strategy with moderate price and medium quality. (Refer table 4.3)

Setting the final price
Vegetarian food wraps will be Rs. 149 and non vegetarian food wraps will be Rs. 199.
(Refer table 4.4) These prices will be used for the first six months until the business is
stabilized in the market. The prices will undergo alterations based on competition and
economy after the initial six months.

Figure 4.2 Pricing Process
Source: Authors work, 2014


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Estimating cost


Selecting the pricing strategy

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Setting the final price



4.2.2 Promotional price tactics





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4.3 Place

Distribution Channel
0 level

Distribution Strategy

Selective strategy is the most suitable
distribution strategy for Wrap it up since
there are two food trucks selling food wraps;
travelling from place to place covering few
areas in Colombo.

Points of sale

Truck no 1- In front of Race course where
the density of university students is high.

Truck no 2- In front of Majestic city where
the density of working population is high
during lunch hours.




Consumer Manufacturer
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4.4 Promotion
4.4.1 Marketing communication process



1. Identify target audience
The target audience for the business, Wrap it up is mainly working population and the
youth/university students in Colombo area.

2. Determine communication objectives
Pre-launch communication objectives
To create brand awareness - The business should make the target market aware of
the brand in order to create an interest towards the business.
Post-launch communication objectives
To attract customers - The business should attract customers by creating curiosity
about products and services offered by the food truck.
To retain customers - Wrap it up intends to retain customers by offering them sales
discounts and by offering loyalty cards.

3. Design the message
A message that is persuasive and appropriate including differentiation and benefits given
by the business. (Refer table 4.6)
4. Select communication channels
The business will select suitable and effective communication channels in order achieve
communication objectives. (Refer Table 4.7)
5. Establish marketing budget
For promotional activities Wrap it up will follow objective and task method. The
promotional budget will be based on based on communication objectives according the
above mentioned method. (Refer table 4.8)
6. Decide on the promotional mix
Wrap it up will select communication tools which will be effective to build awareness of
the brand and which will create desire to purchase food wraps. (Refer table 4.9)
7. Measure promotional results
Promotional results of Wrap it up will be collected by;
Inquiring customers (face to face)
Number of like in the facebook page
Number re-tweets in twitter
Collecting and counting number of coupons distributed with flyers
Number of replies for direct e-mails

Figure 4.3 Marketing communication Process
Source: Authors work, 2014


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3. Design the message



4. Select communication channels






Table 4.6 Design the message
Source: Authors work, 2014


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5. Establish marketing budget



Table 4.8 Establish marketing budget
Source: Authors work, 2014


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6. Decide on the promotional mix






4.4.2 Examples for pre-launch communication tools


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4.4.2 Examples for pre-launch communication tools
1. Facebook advertisement

Figure 4.3 Facebook advertisement
Source: Authors work, 2014


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2. Web banner

3. Flyer

Figure 4.4 Web banner
Source: Authors work, 2014


Figure 4.5 Flyer
Source: Authors work, 2014


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4.5 Process



4.6 People
The business initially starts with two food trucks with a staff of three members in each truck.



Arrival of customer
Placing the order
Delivering the order within ten minutes
Payment (Cash/ Credit card)
Inquiring for feedback from customers
Figure 4.6 Process
Source: Authors work, 2014


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4.7 Physical evidence
Food trucks which are the physical evidence of the business are basically, designed
campervans. These food trucks are designed with an opening in the back for communication
and transaction processes with customers. Inside the food truck is designed as a mini kitchen.
These food trucks will be parked in shady places where customers can spend time enjoying
their snack. Also the business has a facebook page as well as a website (www.wrapitup.lk).






















Figure 4.7 Physical evidence (Food truck)
Source: Authors work, 2014


Figure 4.8 Physical evidence (facebook page)
Source: Authors work, 2014


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5.0 (I) Implementation
5.0 (I).1 Implementation process




Stay Committed to the Plan
The employees being committed to the business is a key factor for a successful business. In
order to keep the employees committed they should be kept rewarded and happy. The
entrepreneur is hoping to celebrate their first month achievements considering the
businesss profits. Also an annual trip will be organized. Furthermore, employees will be given
seasonal bonuses (financial motivation) as well as health insurance.
Communicate the Plan for Execution
After reviewing all the elements of the business plan, the plan should be
communicated to the employees working for the business. Respective tasks should be
also informed for them to coordinate, control, contribute and commit to the
business.
Develop Activity Lists for the 1
st
Six Months
The time frame of all the key activities carried out in order to generate and to
implement the business idea is given in the below table. (Refer figure 5.2)
Review & Understand all Elements of the Plan
The entrepreneur will review the entire marketing plan in order to understand
individual elements. Resources will be compared with the plan to understand the
gaps to take necessary actions in order to implement the business.
Figure 5.1 Implementation Process
Source: Authors work based on Kotler and Keller (2006)


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Gantt chart for the launch plan

Figure 5.2 Gantt chart
Source: Authors work, 2014


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5.0 (I).2 Financial Budget for the launch plan


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5.0 (II) Control mechanisms


Table 5.2 Control mechanisms
Source: Authors work based on Kotler and Keller, (2008)


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Conclusion

The entrepreneur has researched about lifestyles of people in Colombo and has realized that
they have busy lifestyles so they prefer on-the-go dining than in-house dining. To cater to this
need, the entrepreneur has drafted a business plan to introduce food trucks to Sri Lanka which
deliver on-the-go dining experience to customers. Wrap it up has drafted a business plan in
the most effective, systematic and practical manner which facilitates the business to thrive in
the current market. Resources, business expertise, reliable business partners and financial
stability which the business possesses, demonstrate the potential of the business to operate for
a foreseeable future. By updating the business plan with the variations of the current market,
the business can meet customer expectations which will benefit the business to stabilize in the
market.
The well planned marketing proposal with realistic marketing objectives, suitable marketing
strategies and well organized marketing mix prove that this business is feasible to launch and
has the potential to thrive in the current market.


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References

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Education Limited.
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nd
April 2014].
Department of Census and Statistics ministryof Finance and Planning (2013). Quarterly
report of the Sri Lanka labour force survey [online]. Available at:
http://www.statistics.gov.lk/ [Accessed 30
th
March 2014].
Fahy, J & Jobber, D. (2012) Foundations of Marketing. 4th Edition. New Delhi: Tata
McGraw Hill Education Private Limited.
Kotler, P. & Armstrong, G. (2006) Principles of Marketing. 11
th
Edition. New Delhi:
Prentice-Hall of India Private Limited.
Kotler, P & Keller, K. (2006) Marketing Management. 12th Edition. New Delhi: Pearson
Education.
McDonald, M. (2000) Marketing plan: How to prepare them, How to use them. 4
th
Edition.
Delhi: Rajkamal Electric Press.
Student Sri Lanka (2014). Facebook usage in Sri Lanka and safety tips [online]. Available at:
http://studentlanka.com/ [Accessed 15
th
April 2014].
Trading Economics (2014). Sri Lanka inflation rate [online]. Available at:
http://www.tradingeconomics.com/ [Accessed 2
nd
May 2014].