Sry guys, it a marketing qns - I cant find a subject for it. Passage:- ==== THAT

Question

Sry guys, it a marketing qns - I cant find a subject for it.
Passage:-

==== THAT ALL THE INFO I HAD , BASE ON THE PASSAGE AND ANSWER THE QNS =====

Room to Grow More local veggies at Panasonic’s Farm

Consumers here can look forward to more home-grown leafy greens from Panasonic, Which plans to expand its high-tech indoor vegetable farm and more than double its production by next year.

The Japanese electronics giant is also looking into cultivating seasonal fruit usually grown in temperate climates.

It runs a 1,154 sq m indoor farm, about the size of11/2 soccer field, at Panasonic Factory Solutions Asia Pacific’s premises in Jalan Ahmad Ibrahim.

The farm produces up to 40 crop varieties, amounting to 81 tonnes of vegetables annually, Plans are under way to increase farm size to 1,710 sq m, which will allow it to produce up to 180 tonnes at optimum capacity. The cultivated varieties include mizuna, oba, leafy lettuce, mini red radish, Swiss chard and baby spinach.

Mr Paul Wong, managing director of Panasonic Singapore, said the company embarked on vertical farming as a viable and efficient means of producing vegetables in a limited space. Mr Wong said: “We started with eight types of crops. Through constant research and development, we now produced 40 varieties of leafy greens and we want to expand that list with seasonal fruits.

“Increasing our overall crop production is also in line with our goal to contribute to Singapore’s food security through a stable local supply of leafy greens.”

Latest figures from the Agri-Food and Veterinary Authority(AVA) show that last year, 11,300 tonnes of vegetables were locally produced, which accounts for 12 per cent of the total vegetables supply. Singapore imports over 90 per cent of its food supply.

Mr Melvin Chow, group director of AVA’s Food Supply Resilience Group, said local food production provides a crucial buffer in the event of disruptions in overseas food supply.

The AVA encourages the use of technology that can help local farms optimise land use, boost capability and raise production.

Mr Chow said:”The most important step is for our industry to adopt a progressive mindset and improve productivity.”

Panasonic’s indoor vegetable farm was the first of its kind to be licensed by the AVA in 2013.

It utilises both soil cultivation and hydroponics. No pesticides are used. Seeding and potting are automated, which doubles productivity compared with traditional farming methods. An intelligent lighting systems using LED lights helps to accelerate plant growth.

Through a system of automated irrigation, controlled temperature, humidity and carbon dioxide, the farm is able to increase crop growth and achieve a high yield rate of 95 per cent.

The farm is also licensed by the AVA to process salads. Panasonic produces three ready-to-eat salad mixes, which are sold at major supermarkets. It also supplies vegetables to hotels, restaurants and catering companies.

Japanese restaurant chain Ootoya placed its first order of vegetables with Panasonic in 2014. Mr Yusuke Shimizu, 39, managing director of Ootoya Asia-Pacific, said:”Our customers. Complimented us on the freshness and some even asked us where to buy the vegetables.”

Ootoya orders an average of 150Kg of vegetables from Panasonic every month for its three outlets. Mr Shimizu said:”Freshness is a priority at our restaurants and Panasonic supplies us with vegetables that are harvested on the same day.”

Questions: 1)Analyse the potential impacts of three macro environment factors in business opportunities for high-tech vegetable farm in Singapore.

2) Marketing research is important for businesses like Panasonic to explore market potential and consumer acceptable to high-tech food products such as grown using hydroponics. Describe and elaborate the key steps in the marketing research process that Panasonic should take in the context of introducing vegetables that are locally produced by high-tech vegetable farms in Singapore.

3)Discuss how Cultural, Social and Personal Factors can influence a consumer’s decision to purchase high-tech food products from Panasonic. 4)Holistic marketing consists of four components.

4a) Apply the Integrated Marketing component to the case and analyze how Panasonic should manage its marketing activities based on what Integrated Marketing suggests.

4b) Propose effective digital communication tools to Panasonic to promote its vegetable products.

Explanation / Answer

Macro-environmental factors are the external factors that can impact (positively or negatively) the high tech food products business opportunities. Three of the factors that can be considered here are

Economic factor: What is the purchasing power of targeted audiences? Does the product pricing match or provide economic benefit to the consumers? Answer to these questions will help Panasonic analyze the economic factor

Social/cultural factor: How does the people view the technology driven vegetable and fruits? Is it socially acceptable as natural product or otherwise? These answers are key to understand, if the customers are willing to purchase the product

Legal forces: The targeted countries where the product is expected to be sold may have legal or political interest on importing/exporting food products. These factors need to be considered to understand the viability of the business

The key steps Panasonic must take to conduct market research are

Define the objective of the research and the problem statement along with the hypothesis. This steps lays the groundwork for the market research and objectifies the end result for a summarized understanding. For example,” Is there a market for high-tech vegetables?” This objective question can be hypothesized by “More than 50% of population will prefer high-tech vegetable if it provides price advantage”

Design the research. This step determines what kind of research has to be conducted. For example, it could be exploratory or descriptive research. Depending on the type of objective the team may choose the research type and method.

Research instrument. This is the way of conducting the research. It could be an online/offline survey, potential customer feedbacks, focus group discussions etc. For example, a high-tech food focuses on various demographics. As a result a survey may be a good option to conduct the research.

Data collection. This process collects data through the research instrument.

Data analysis. Once the data has been collected, the data analysis phase provides insights on the collected data. At this point, intermediate results are generated.

Research result. After the data analysis, insights are collated and the final result is extracted on the research objective. This also mentions if the hypothesis is correct or wrong.

The answer to the question 1 should be sufficient to answer this. In addition, we do need to keep in mind that factors such as brand. While Panasonic is powerful brand, it is in the field of electronics. Their jump into vegetables business makes people and society immediately relate the food products to be artificially grown. Considering that there are a log of movements that condemn artificial food, negative impacts may be expected. Depending on the social, cultural and personal factors customer may or may not be willing to purchase Panasonic vegetables.

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