1.0 Overall Market Situation Analysis: 1.1 Markert Summary

1.
0 OVERALL MARKET SITUATION ANALYSIS

1.1 MARKERT SUMMARY
The Solomon Islands is a constitutional monarchy with three tiers of government: national, provincial
and local. The sub-national government is made up of nine provincial assemblies and the Honiara
City Council. The Council is headed by a mayor who appoints chairpersons to head the overall
administration of the council’s eight portfolios: education; land and planning; works and transport;
trade and commerce; law enforcement; finance/administration; health and environment; and youth,
sports, and women. Honiara has developed economically at a faster rate than other parts of Solomon
Islands, having a high concentration of the Solomon Islands’ and international businesses within its
boundary.
Honiara is located on Guadalcanal the largest area in the country, measuring 160 kilometres in the
length and 45 kilometre wide at the centre. The island stretches from the northeast to the southeast
with a mountainous spine parallel with, and close to the southern coast. Honiara is the capital city of
the Solomon Islands and serves as its main transport hub and economic, political, and educational
centre. It is located on the north coast of Guadalcanal with an area of 22 square kilometres and
population of 700,000. Honiara has 12 wards and is the most densely populated area of the country
with 2,953 persons per square kilometres and the highest average household size (seven compared to
5.5 country average). Honiara itself can be divided into two general geographical zones: the coastal
zone, which forms a narrow alluvial plain varying in width from 120m on the east to about 1.7
kilometre on the west and the grassy foothills behind the coastal plain, which are incised by the
Mataniko and White River and their tributaries. The vast majority of the population in Honiara is
ethnically Melanesian small minority are Polynesian who live mainly on outlying atolls, principally
Ontong Java Atoll, Bellona, and Rennell Island. There are small proportion of Chinese, Europeans
and Gilbertesed also living in Honiara.
In Honiara city or Central Business District (CBD) the supermarket established in the city carters for
westernised and Asian menus which is quite expensive for middle class earners but are affordable for
high income earners such as Europeans, Chinese and some natives living in Honiara. Supermarket
located close to the Anthony Saru Building in Point Cruz and one located at Panatina plaza prince
Philip Highway. Majority of the supermarkets located in Honiara sold their goods at a very high price.
Restaurants located in Honiara city include many fast food chains, a majority is owned by Chinese
businessmen small proportion are owned by natives. Most of the fast food street venders or barbecue
houses around Honiara are owned by natives. In Honiara few restaurants offer rare dishes and few
innovative dishes which are also expensive for middle class earners or for the population to afford.
Due to most of the population around Honiara are middle class or lower average income residents the
pricing of dishes or products is a vital component of the establishment and continuity of any business
operating in Honiara. As for the local population in Honiara people tend to adopt some healthy
lifestyle practices which give a strong sense of considerations in establishing a Café or fast food bar.
There have been large increase of food caterings in Honiara because of the increasing population and
events organized by the government. There have been increase in settlements in and around Honiara
city. Prices of fish and chips around most of the restaurant and fast food cafes are at restricted levels
which people can not afford. Fish and chips product which lack high quality and quantity values are
sold at higher prices indicating that there is potential for market in Honiara city. To be successful,
high quality products, good customer service and market research and site selection is important to
consider in establishing business in Honiara city.
1.2 Market Needs
Based on our market research there is are desire by customers to buy cheap Fish and Chips product
which is of high quality, quantity and safe in terms of health measures or benefit to the human body.
At present the Fish and Chips products produced by other fast food cafes in and around Honiara are
sold at higher prices with low quantity and quality. This reason gives our business an opportunity to
be established to counter the mentioned problem. For Tuna fast food café the product which will be
cooked and serve at the café will include different recipe of Fish and Chips suiting customers who
have allergies not considered by existing cafes.
For Tuna fast food café the fish and chips product which will be sold at the café will be of low price
$10 for small packets and $20 for large packets which are of high nutritional value, high quality thus
benefits the customers and in return benefit the café. The service which will be provided by the café
are as follows mobile marketing using the social media and takeaway packets or packaging of fish and
chips product. We also provide orders for fried tuna caterings for workshops, functions and birthdays.
As mentioned above our pricing suits the middle class and the upper class society in Honiara city. Our
Fish and Chips product will target the children at the age of 9 years to 17 years and adults from 18
years up to 40 years of age. Overall, the demographic variables are associated with sale of many
products and services providing a description of the target customers so media buyers and desired
target market can be considered.
1.3 Market trends

For Tuna fast food café our supplier for Fresh chilled tuna to be cooked for Fish and Chips is Solfish
company (producer, wholesaler and retailer). It is a foreign owned company that engage in offshore
Longline fishing in our Exclusive Economic Zones (EEZs) and other EEZs of the Pacific Islands and
has a wholesaler office at Ranadi. Their catch consists mainly of tuna and tuna like species that are
stored immediately in blast freezers onboard the long liners. Solfish Company’s role in the
distribution channel is to fish for fish and to sell it to local retailers and also export the whole frozen
tuna to other international markets like the EU markets. Based on our market research other cafes
applauded the company for its best quality fish product and most importantly the company sells the
cheapest frozen product in town despite fluctuations in price. Also there supply of raw tuna is reliable
for small business like Tuna fast food café which we depend mainly on their high quality tuna
products to produce a high quality fish and chip product for our customers.
In terms of packaging our finished product it will be assembled and packed in brown paper packets or
takeaway plates or packets for those customers who will want to not dine in the café. While for those
customers who dine in the restaurant their dishes will be served on a plate. Free sources and flavors
will be provided as supplementary ingredients to our customers. For some customers who have
allergies will also have variety of options for them to select from base on their health descriptions.
Global consumption and the market for functional foods pertain to, in large, consumers’ health
consciousness and their awareness, as well as knowledge. As a result, Tuna café will try to correlate
between consumers’ knowledge in functional foods and their physical health which are of great
interest to meet our customers demand regarding their preferences according to health reasons. Our
selected fish species is tuna. Tuna is rich in high quality protein, omega 3 fatty acids and selenium and
should be considered part of a healthy diet.
The high percentage of omega-3 fatty acids in tuna meat brings the balance into the blood vessels,
reducing the cholesterol in the arteries of young and old people. Lower cholesterol in arteries equals
fewer problems in blood flow and heart pump, which brings improvement of heart health for all ages.
Tuna is rich in potassium – a mineral that lowers the blood pressure significantly. The combination of
this element with omega-3 fats brings anti-inflammatory effect to the cardiovascular system.
That means lower pressure, and lower risk of stroke, heart attacks, and complicated problems, like
clogged arteries. The meat of this fish is rich in manganese, zinc, vitamin C, and selenium – the
antioxidants that are known as major boosters of the immune system. The antioxidants fight the free
radicals, the by-products of metabolism on the cellular level, which can cause multiple serious
diseases, like cancer.
2.0 SWOT Analysis

Stregnths
The wholesaler which provide tuna for our fish and chips product is a reliable supplier that distribute
high quality tuna fish which are healthy and fresh. Due to our wide range of fish and chips market
research around Honiara we identified failures of other cafes which will be used against them to
capitalise them according to health consciousness or preferences of customers and pricing of final
product with lower affordable prices which suit everybody. One unique improvements is that our café
consist of menus for sick people especially for those with allergies coming to our café.
Weaknesses
Opportunities
Threats
3.0 Competition
Competitor analysis is mandatory for any company/organisation to survive. Studying the competitors
would help the company understand which ones to target and which ones to stay away from this vital
information is obtained from our market research. For tuna cafe fish and chips we have three major
competitors in the field of fish and chips in Honiara City Centre: Water Lilly fast food café, Amys
café and Indian cafe. All these are the similar kind of fast food cafe in and around the Location where
tuna café will be established or operating.
4.0 Product offering

Market offerings are some combination of products, services, information, or experiences offered to
a market to satisfy consumer needs or wants. Creating new products; and developing pricing
strategies
5.0 Market strategy
5.1Marketing objectives
5.2Financial objectives
5.3Target markets
5.4 Distribution channels
5.5 Positioning and promotion
6.0 Financial Strategy

6.1 Financial analysis

1.0 Overall Market Situation Analysis: 1.1 Markert Summary

Uploaded by

Copyright:

Available Formats

1.0 Overall Market Situation Analysis: 1.1 Markert Summary

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

1.0 Overall Market Situation Analysis: 1.1 Markert Summary

Uploaded by

Copyright:

Available Formats

1.

0 OVERALL MARKET SITUATION ANALYSIS

1.3 Market trends

2.0 SWOT Analysis

4.0 Product offering

6.0 Financial Strategy

You might also like