Campbell's IQ Meals
Founded in 1869 by Joseph Campbell, a fruit merchant, and Abraham Anderson, an icebox manufacturer, the Campbell Soup Company has since evolved into an internationally renowned enterprise, mostly recognized for its leadership in the soup market .In the early 1990s, despite their powerful leadership, the company realized the soup market had become mature and offered little growth opportunity. As a result, Campbell considered an entry in an emerging market mostly focusing on diet and disease prevention: the nutraceutical market.Stephen DeFelice, coiner of the term nutraceutical, defines the latter term as "a food or part of a food that provides medical or health benefits, including the prevention and/or treatment of a disease." Based on the growing interest in health and disease prevention from the American population, the entry in the nutraceutical market was perceived to have an "explosive potential" by David W. Johnson, CEO of Campbell at the time. Campbell Soup then engaged in a five years development of mail-delivered clinically-proven meals, designed for people with cardiovascular problem, Type II diabetes and other health concerns. About $30 millions were invested in
Other pressures from ConAgra and H. ThreatsThe emergence of such an important market (nutraceuticals) attracted many other companies in the food industry, and will continue to do so for as long as the market will keep growing. The nutraceutical market also implies the participation of experts and professionals working outside of the food industry, such as cardiologist and doctors, which probably do not consist in Campbell's actual workforce. Negative AspectsSeveral negative aspects have emerged from the product, either rising from perception issues or even from the marketing plan itself. As mentioned above, one of the major concerns of the IQ meals lied in the matter of perception. Such awareness from a population facilitates the attempt to gain consumer trust and reliability. SUGGESTIONSSmall changes in the development process as well as radical changes in the product itself could have resulted in a more successful launch, if they had been considered earlier. The first suggestion outlines the power of an efficient endorsement. A more radical suggestion would completely ban the launch of a new-to-the-world product and would encourage the improvement of already existing product in order to enter the new nutraceutical market. research and development (R&D) and testing of the Intelligent Quisine (IQ) meals; as the meals were named just before the market test . WeaknessesEntering a new market usually requires the gathering of new information as well as the expertise of new personnel. In fact, the growing interest in disease preventing diets within the American population as well as the emergence of the nutraceutical market represent the perfect opportunity to capture an important share of the market right from the start, as the "pioneer" advantage. Since 58 millions of Americans show some type of cardiovascular problems and 16 millions are recognized to have diabetes , doubts regarding the existence of a market can be eliminated. StrengthsThe major strength of the Campbell Company would primarily consist in its positive image as well as its well-recognized brand names and products. OpportunitiesThe main opportunity facing the food market consists in the important presence of a market for healthy and beneficial food supply.
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