Product Characteristics and Rate of Diffusion The degree of complexity involved in understanding and consuming food Complexity: Mac n’ Cones’ products is relatively low as it will not be difficult for consumers to comprehend to concept of a classic savory filling in a savory waffle cone, and to just take their first bite into this new food product. As the experimental food and food truck scene is booming in San Francisco, the Compatibility: Mac n’ food products will be extremely compatible to the culture of the target market. Because it is a new Cones food product, existing product knowledge may be extremely low if not non-existent. However, the target culture will negate this. market’s While does not have direct competition, it still has relative advantage Relative Advantage: Cones Mac n’ over its indirect competitors. In comparison to the regular macaroni and cheese, the Mac n’ Cones’ product will have the added benefit of being portable. The product will also have and edge Mac n’ Cones’ over the regular waffle cone with its extensive variety of enhanced flavors. All of the food products are tangible goods that can be seen and tasted. The Observability: Mac n’ Cones’ food truck is also located in the open where the target consumers are able to observe other customers who have already purchased the food products. During the initial stages of the launch, samples will be given out to the public increasing the Trialability: trialability of the products. Mac n’ Cones’ Product Life Cycle savory waffle cones are currently in the of the product life cycle introduction stage Mac n’ Cones’ because they are new to the market. During this stage, the products are relatively unknown. The company will hence be putting in extra efforts for promotional activities during this period. The costs of production and distribution will also be relatively high. As such, almost no profits are discernible at this stage. During this introduction stage, food products will likely be purchased by either the Cones Mac n’ who like to try new things and purchase products as soon as they hit the market, or the innovators early who are keen to experiment with a little more caution than their counterparts. adopters innovators X. Product Placement
Product Characteristics and Rate of Diffusion Complexity: The degree of complexity involved in understanding and consuming Mac n’ Cones’ food products is relatively low as it will not be difficult for consumers to comprehend to concept of a classic savory filling in a savory waffle cone, and to just take their first bite into this new food product. Compatibility: As the experimental food and food truck scene is booming in San Francisco, the Mac n’ Cones food products will be extremely compatible to the culture of the target market. Because it is a new food product, existing product knowledge may be extremely low if not non-existent. However, the target market’s culture will negate this. Relative Advantage: While Mac n’ Cones does not have direct competition, it still has relative advantage over its indirect competitors. In comparison to the regular macaroni and cheese, the Mac n’ Cones’ product will have the added benefit of being portable. The Mac n’ Cones’ product will also have and edge over the regular waffle cone with its extensive variety of enhanced flavors. Observability: All of the Mac n’ Cones’ food products are tangible goods that can be seen and tasted. The food truck is also located in the open where the target consumers are able to observe other customers who have already purchased the food products. Trialability: During the initial stages of the launch, samples will be given out to the public increasing the trialability of the Mac n’ Cones’ products. Product Life Cycle Mac n’ Cones’ savory waffle cones are currently in the introduction stage of the product life cycle because they are new to the market. During this stage, the products are relatively unknown. The company will hence be putting in extra efforts for promotional activities during this period. The costs of production and distribution will also be relatively high. As such, almost no profits are discernible at this stage. During this introduction stage, Mac n’ Cones food products will likely be purchased by either the innovators who like to try new things and purchase products as soon as they hit the market, or the early adopters who are keen to experiment with a little more caution than their innovators counterparts. X. Product Placement
food_truck_marketing_plan.docx