Marketing and Branding Strategy for a Hemp Tofu
HAFU is a newly developed hemp seed tofu from the company Harmonius GmbH in Switzerland. The business now wants to expand into the European market. Therefore, a country analysis, including a market entry strategy as well as brand management, is needed.
Mike Frei & Sebastian Bottlang & Gonçalo Miranda Da Costa Pinto & Louisa Anna Furger & Gina Aurora Kaser & Trang Dang, 2023
Projektarbeit/Praxisprojekt, Harmonius GmbH
Betreuende Dozierende: Marco Casanova
Keywords: Market Entry Strategy, Brand Management, PESTEL, Hemp Tofu
For the past years, Harmonius GmbH has been developing a tofu-like product made from hemp seeds with the help of industry partners and universities. The product has been launched on the Swiss market in 2022 under the brand Harmonius. Due to the impetus of globalisation, market expansion became an essential factor for Harmonius. For an expansion into the European market, the brand name HAFU has been registered. The product brings with it a lot of benefits for consumers regarding the nutrient density and bioavailability, though it has not reached a lot of attention on the market yet.
The project was developed by combining primary and secondary data consisting of literature research, expert interviews, and with the help of various frameworks in the context of marketing and branding. Therefore, a PESTEL analysis served as a foundation for the country analysis. After defining the most suitable country and the value of the product, the market segmentation, targeting, and positioning, as well as the brand management, were worked out. Followed by the evaluation of the most suitable entry mode and distribution channels.
The developed concept of our marketing and branding strategy provides a thorough analysis of the HAFU brand, along with research on the market context, thereby providing the right tools and plans for the client. The project provides the client with a tailored market entry strategy for the company that they can use as a reference to help in achieving their goals. The findings of the paper indicated that Germany is the best market to enter when aiming at future expansion. The two segments we isolated were fitness fanatics and vegans, with vegans being more suitable due to more available data. For the chosen segments, the focus differentiation strategy would fit best. The packaging should become darker to resemble a luxury product, and the placement of integrated QR codes will help enhance interaction with the customers. Labels are also to be displayed to actively reflect the brand's value and increase transparency. Finally, looking at distribution channels, it is recommended that an indirect mode is used to incorporate online and offline distribution, and for the market entry, the conclusion is that the intermediate mode of a vertical joint venture would be the best option.
Studiengang: Business Administration International Management (Bachelor)
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