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

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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=====
--- Any better suggestion than the one being answer previous ===

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

The macro economic factors include Economic factors, Demographics, legal, political and social conditions. For any business these 3 factors play an important role and contribute towards business opportunities. The factors like competitors, change in cultural taste, disastrous weather, government regulations, employment and may more. When there is a competitors to grow the vegetables and provide the high tech vegetables you will get to see many varieties and you will have good opportunity to stay unique in the market by providing quality products. When there is change in cultural taste like some people does not like to eat one kind of vegetable and they will be very particular to that. In scenarios like this there are chances that one particular vegetable demand might slow down and cultivating that vegetable may not happen further. When the weather does not support no company or farmers will not be able to do anything and it is going to be a huge loss for farmers as well as for companies. It may lead to business does not run properly and consumers will not get what they want. There are other factors like government regulations imposed to the general public it many impact the business of the company. Example imposing higher taxes on premium vegetables may lead to customers not buying them and leads to lesser business for premium vegetables.

2) Market research for any new product is very important to have the customer acceptance when the product is released in the market. Even for Panasonic to produce local high tech vegetables they will need to some market research to ensure the vegetables are accepted by the consumers. First Panasonic needs to know

what vegetable is not available in the local market and what is being preferred by the consumers

Develop the research plan and history of people taste, cultural change and government regulations if any

Collect all the relevant data on how to produce the local hi-tech vegetables

Analyse how it can be done and how to achieve the end result of hi-tech vegetables

Choose the suitable location for land cultivation

Start cultivating it.

These are the important research points to be noted

3) Cultural, Social and personal factors does influence the consumer’s decision. When there is a cultural difference like most of the people eat non veg and do not eat much of vegetables it is obvious they will not buy the hi-tech vegetables. When the business operates in a society where there are multiple cultures it becomes difficult for the companies to manage the consumer expectation since there will be multiple choices and what the business is providing may not suit the customer. As an individual each person taste differ from one to another. What the company call as high-tech vegetable may not be the same for an individual and the person may not like it.

4) 4 components of Holistic marketing

Relationship Marketing

Integrated Marketing

Internal Marketing

Socially Responsible Marketing

4a) There are 5 components of Integrated Marketing

Customer Focus

Interdepartmental co-operation

Database communication

Leverage

Return on Investment

Panasonic, since they are starting with the hi-tech vegetable production the company needs to be more focussed on the customer since they are the ones who are going to purchase them and produce what they really want. When the vegetables are under cultivation it is very important for the departments inside the company to be transparent across all department and there is no delay in team and contribute to the success of the product. Instead of wasting time and money on key solution, create a solid communication database which can be used across all platforms. Also the company needs to balance the needs and supply of the vegetables in the market and also the quality of the product needs to be balanced. Ultimately after all the attempts the main reason to make this business is to get profit. Company needs to keep some room to make money in the vegetable market for the product they produce.

4b) in the current generation it is extremely important to do very good marketing of the products due to large number of competitors available in the market. It is good for Panasonic to go for digital marketing since the digital communication is very famous in the current generation. The company can upload the advertisement in the social media like face book, twitter, linked in where most of the people access and the product becomes familiar. There are other options like chat rooms, group messaging, discussion forum where the company name can be brought in. This way it becomes easy for the company to promote the hi-tech vegetables.

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