Module 1 - Assignment 1 - Design a New Food Truck - Harman

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Sheridan College *

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10000D

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Marketing

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Apr 3, 2024

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docx

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3

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MODULE 1– ASSIGNMENT #1 – MARKETING FUNDAMENTALS Type of Assignment : Individual Submission (with group discussion) Length : 20 Minutes Submission : SLATE Assignments OBJECTIVES Define a target market segment and develop a simple marketing program for a Food Truck Value the practice of working in a team Develop presentation skills INSTRUCTIONS 1. Read the case study 2. With your tablemates, discuss your experiences, likes, and dislikes related to your experiences with Food Trucks 3. Brainstorm ideas for a new Food Truck idea (5-10 mins) 4. Complete the Worksheet (10 mins) 5. Present the ideas to the class (1-2 mins each) FOOD TRUCK CASE STUDY Tamara Tomlinson was considering various options for a business venture. She just returned from an event at Nathan Phillips Square in Toronto where she noticed the popularity of the various food trucks. People were lining up for a full meal, a quick snack or just something to cool them off on a hot summer day. These were not the old style food trucks we traditionally found outside offices and construction sites, they were what “foodies” would describe as gourmet mobile trucks. She did some research and discovered a food truck is much less expensive than a restaurant and the failure rate for food trucks is 10 to 20 percent (as opposed to 60 to 90 percent for restaurants). This might be the perfect way to achieve her dream of becoming a successful entrepreneur. Tamara graduated several years earlier from the Business Administration program as a Marketing major at Sheridan College. Her work experience included eight years in the restaurant industry and felt she was ready to start her own business. Her older brother was also interested to work with her because he recently graduated from chef school. She is creating a business plan to allow her to apply for the financing she requires to launch her business. She is currently developing the Marketing Strategy and has several decisions to make. Assignment 1: Design a New Food Truck Marketing Fundamentals Page 1 of 3
NEW FOOD TRUCK WORKSHEET Marketing Component Brief Explanation/Details What should be the theme of her food truck? What are the features, benefits? Italian Food. The benefits are that pizza and pasta can be cooked very quickly, plus they are a few of the most popular and liked dishes around the globe. Based on the theme she selects, who should be her target market? Avoid saying “everyone”. Pick a primary target market. Her primary target market should be youngsters or teenagers. It is because Italian dishes like pizza and pasta are majorly consumed by children and teenagers. What would the price range be? Why? The price range for the pizza can be $1-$7 with a variety of different toppings and sizes of small, medium and large and single slice. The pasta can be priced at $5-$10 with a variety of sauces and veggies. She can also sell meals and combos with a price ranging from $7-$14. Where should she located? The food truck should be located outside of Schools, Colleges and Universities. Also, she can provide online delivery service through uber eats and through her own app. How can she promote her new business? Social media is one of the biggest platforms where she can place advertisements as her target audience is the largest consumer of social media. She can offer discounts or combos for the first week and come up with different schemes every month to attract more customers. How is it different from others? Specify why it is superior to the competition It is priced cheaper than that of the competitors without compromising the quality of food. Also, many food trucks do not provide delivery services. She can register Italian Street on uber eats and other online food services. She should also design and make an app for Italian Street where she can provide additional discounts and offers. What should she call her food truck? Italian Street Assignment 1: Design a New Food Truck Marketing Fundamentals Page 2 of 3
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