XYZ is a Sri Lankan Company specializes in milk processing and dairy products and it started operations in 2006 by establishing its factory complex in Ampara region. The visionary entrepreneur Mr. Kumarage has identified the necessity of building a local milk powder brand by studying the dominance of multinational corporations in the industry. He identified that customers are highly loyal to these multinational brands which are promoted through rigorous marketing communications. However, XYZ was able to successfully launch milk powder, liquid milk, yoghurt, butter, and ice cream under the XYZ brand name irrespective of the intense competition. Moreover, the company is planning to develop a series of new products to strengthen its future competitiveness. In the meantime, Mr. Kumarage has an ambitious plan to develop the dairy cattle farming by empowering the local farmers to establish a continuous and trustworthy flow of quality raw materials to the factory. 1. Explain how the relationships with local famers influence on XYZ’s overall customer value creation. 2. Assume that XYZ will undertake a marketing research in order to identify the market potential for ‘ready to drink milk bottles’ among the customers in Sri Lanka. Briefly explain the steps in the marketing research process involved in this situation. 3. Design two (02) detailed product concepts for the new product idea of developing ‘ready to drink milk bottles
XYZ is a Sri Lankan Company specializes in milk processing and dairy products and it started operations in 2006 by establishing its factory complex in Ampara region. The visionary entrepreneur Mr. Kumarage has identified the necessity of building a local milk powder brand by studying the dominance of multinational corporations in the industry. He identified that customers are highly loyal to these multinational brands which are promoted through rigorous marketing communications. However, XYZ was able to successfully launch milk powder, liquid milk, yoghurt, butter, and ice cream under the XYZ brand name irrespective of the intense competition. Moreover, the company is planning to develop a series of new products to strengthen its future competitiveness. In the meantime, Mr. Kumarage has an ambitious plan to develop the dairy cattle farming by empowering the local farmers to establish a continuous and trustworthy flow of quality raw materials to the factory.
1. Explain how the relationships with local famers influence on XYZ’s overall customer value creation.
2. Assume that XYZ will undertake a
3. Design two (02) detailed product concepts for the new product idea of developing ‘ready to drink milk bottles’.
Step by step
Solved in 5 steps
