Launching a new product range A Patak's case study
Page 1: Introduction
Successful marketing organisations develop product ranges to meet the needs of selected groups of customers. These groups are identified by research which analyses customers’ needs and compares them with the products which are currently available. This allows the identification of gaps in the market where a new product could be introduced to meet a need which is not currently being satisfied profitably.
This case study examines how one of the country’s most innovative companies, Patak (Spices) Ltd., the leading supplier of authentic Indian food worldwide, has identified a market opportunity and launched a new range of ‘curry bases’. The curry base is a blend of natural spices, preserved in oil in a paste, which provides the foundations of an authentic Indian meal.
Although Patak’s currently holds a 67 per cent share of the paste market, the new product has been designed to introduce new consumers to the market by offering a more convenient size and pack format at a lower price, thereby encouraging trial amongst people looking for an authentic Indian product to prepare in the home for a meal for two.