IMA7001 International Marketing Management Assignment University of Bolton

Background and Scenario for the Assignment   

Gousto, a UK-based company, was established in 2012 by Timo Boldt and James Carter. After realising how challenging it was for them to prepare healthy meals without wasting food in their hectic lifestyles, they came up with the idea for a recipe kit service. They were motivated to discover a solution to the 2 billion tonnes of food that are wasted globally each year. By providing portion-sized ingredients and a practical substitute for pre-made items from the supermarket, Gousto aims to reduce the amount of food waste. Each week, Gousto offers delivery recipe kits from a menu of roughly 40 dishes, including dairy-free, gluten-free, and vegetarian options. Each kit comes with a recipe card and quality fresh ingredients that have been measured out beforehand (Forbes, 2023). Every element of the meal kits reflects sustainability, one of the core company values. Wherever feasible, British farms' seasonal, local produce is used in the recipes, and care is made to ensure that the fish and meat are properly sourced. 'Good Egg Award' recognition for Gousto's free-range eggs was given by Compassion in World Farming. The company uses innovative, eco-friendly shipping strategies, including award-winning compostable wool insulation liners to help keep food chilled, and most of the packaging is recyclable or biodegradable (Leighton, 2023).

Here is a summary of the Gousto Marketing Strategy:

• Customer Segments: Gousto targets young professionals and families with working parents who are looking for a convenient and healthy way to meal prep.
• Value Proposition: Gousto provides a meal kit subscription service that delivers pre-measured ingredients and recipes to customers' homes. This saves customers time and effort and ensures that they have all the ingredients they need to cook healthy meals at home.
• Channels: Gousto sells its meal kits through its website and mobile app. Customers can choose from a variety of plans, including Classic Meal Plan, Veggie Meal Plan, and Family Meal Plan.
• Customer Relationships: Gousto provides a self-service customer experience. Customers can manage their subscriptions, track their deliveries, and contact customer support online or through the app.
• Key Activities: Gousto sources ingredients from local suppliers, packages them into meal kits, and delivers them to customers' homes. The company also develops recipes and provides customer support.
• Key Partners: Gousto partners with suppliers, delivery companies, and marketing partners to deliver its meal kits to customers.
• Key Resources: Gousto's key resources are its recipes, suppliers, delivery network, and technology platform.
• Cost Structure: Gousto's costs include the cost of ingredients, packaging, delivery, marketing, and customer support.
• Revenue Streams: Gousto generates revenue from its meal kit subscription service.

Gousto is a growing company that has achieved significant success in a short period of time. The company's business model is well-suited to the needs of its target market, and it has a strong value proposition. Gousto is likely to continue to grow in the coming years (Panchal, 2023).

Assignment tasks: 

Task 1: Diagnose and analyse  the challenges Gousto might face in developing and deploying its global marketing strategies/ approaches and its implications on both countries. 

Task 2: Develop and critically implement a  global marketing planning process that Gousto can use  in each  country.

Task 3: When analysing and developing Task1 and Task 2 - apply a range of alternative models and concepts in dealing with complex global marketing planning issues to achieve competitive advantage

Task 4: Reflect on your task 1 and task 2 analysis and justify your selection of ONE country ( India  or China) Gusto should enter. Also recommend and critically evaluate an effective market entry strategy.