Food industries need to do the self-analysis of the kind of foods that they provide for their customers. They need to consider the demographic impacts, the cultural considerations among many other factors before choosing the products that they need to bring to market. This as well applies to the grocery and the refrigeration industries (Muranko et al., 2016). It is of importance that the company such as the Cold Zone to do the environment analysis of their situation of operation before introducing a product in the areas that they cover. For instance, Cold Zone operates in the Northeast of the United States, and they need to know the type of foods that the people living around like, the cost of production of those products, the cost of transportation and the cultural implications of these products to the population.
Summary of the Research
The research that was conducted through the region where the Cold Zone is situated; Northeastern of the United States, indicated a lot concerning the area. Some of the factors that I put to consideration when doing this search includes; people eating habits, the cultural concerns, and the availability of the production resources among very many costs that could have helped in determining the kind of products that the company needs to introduce in the market. Some of the depictions from the research were that first, and the area is a metropolitan area where there are many people from different cultures. This leaves the organization with a choice of introducing a product that can cut across all the cultures to effectively win the market. Another finding that came out was the eating habits of the population in the mentioned area, which as well-formed a significant determination of the product to be introduced by the company. The purchasing history of people living in this area was as well analyzed, and this provided a base of determining the products that are mostly used by the people living in the area.
From the environmental analysis conducted, the products that could be suggested for the Cold Zone Company are milk and Chicken. The products were selected based on various advantages that they would bring to the business. The assumption was arrived at after the consideration of the factors mentioned above in comparison with the other products, and it was noted that these products could perform better in this area. To begin with, milk; it is a general product without any cultural problems that are related to it. It was depicted that milk and milk products are taken by almost 95% of the population making it one of the most considered product.
Furthermore, being a refrigerated industry, storing milk and milk products would not have been a problem because the product can easily be stored in these conditions, which are already available in the industry. The cost of production and the cost of transporting the product to the industry as a well-formed determinant factor. From the search that was done, it was depicted that there are so many ranches and companies that can supply milk. The industry can as well get milk directly from the farmers.
Another product that could be recommended for the organization is Chicken. This is another product that is taken by almost everyone in the region, and it is of importance to note that dealing in the chicken product will attract many customers who typically take chicken as an alternative of meat. Analyzing the Companies dealing in chicken around, we noted that they could sell an average of fifty chickens in one day, which is a good number, indicating that the business is booming in the area. Considering the transportation costs of the products, the company can easily get supply Chicken from the nearest area, which is less costly.
How the Products Will Help the Company to Achieve Growth
One of the primary goals of the company is to increase the numbers of sales at reduced expenses. These two products are essential to the company in many ways. First, people love milk and chicken, and this is a depiction that the company will attract many customers who will not only buy the two products but can as well buy the already offered products thus, making the company expand. The companies will as well help the company to diversify in the products that they offer. Diversification helps the company to improve the sales since if one product is not performing well, then the other one will be performing better and attracting the customers. So, this means that Cold Zone company will be diversified with these products thus will help them raise more revenue which is their goals. Introduction of these two products in the company may open more ways to the other products, therefore, allowing for the expansion and development of the company.
Generally, when introducing new products in the business, it is vital that a thorough environmental analysis is done to introduce a commodity, which will infringe more money to the market which is the goal of all the businesses. Taking the case, of Cold, Zone, introducing Milk products and chicken will enable the company to be diversified and will attract many customers. This is based on the analysis that was done, which depicted that many people take the milk and the milk products and take chicken as an alternative to meat.
Muranko, Z., Andrews, D., Chaer, I., Newton, E., Proudman, P., & Longhurst, M. (2016). DEVELOPING CIRCULAR ECONOMY FOR THE RETAIL REFRIGERATION INDUSTRY: HOW FINANCIAL INCENTIVES COULD INFLUENCE REMANUFACTURiNG OF REFRIGERATED DISPLAY CABINETS IN THE UK. https://www.sciencedirect.com/science/article/pii/S0140700719301331
Engle, C., Cygler, A., Kotowicz, D., & McCann, J. (2018). Potential Supply Chains for Seaweed Produced for Food in the Northeastern United States. https://www.crc.uri.edu/download/Seaweed-Supply-Chain-Analysis-FINAL.pdf
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Self-Analysis for Food and Refrigeration Industries: A Must for Companies. (2022, Dec 29). Retrieved from https://proessays.net/essays/self-analysis-for-food-and-refrigeration-industries-a-must-for-companies
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