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Line with consumer tastes

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For an organization, not only it’s immediate and competitive, but also macro environment is important as it needs to survive and sustain itself whilst operating in these environments. Spice industry all over the world can be referred to as a subset of the food industry. Spices stand at prominent positions in Pakistani imports and exports.. The spice industry of Pakistan annually grows at a rate that is above 50%. Within this industry, 80% market share is with unbranded loose spices and the rest with branded packed spices.

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Shank Foods and National Foods both are the leaders in branded packed spice category each holding 0% share in 2006, while other prominent players include Chef’s Pride, Aimed Foods, Habit Foods and Aziza Foods. Shank Foods was founded in 1981 in a single room as Shank Miasmal. Later, due to its popularity, it went on to become Shank Foods. It has presence in 60 countries today and deals in six broad categories of offerings. Shank Foods has capitalized on the changing market trends and consumer tastes and through product trials, it has made sure to churn out offerings that are best in line with consumer tastes.

It maintains global presence primarily through exports and follows more than en growth strategy simultaneously. With fourteen departments and state of the art technology and customer focused marketing strategies and campaigns; Shank Foods has become synonymous with authentic traditional cuisine of good quality and taste. Pakistan is the world’s ninth largest market with an estimated 1 70 million consumers. Experts believe that the food retail market in Pakistan is in the throes of landmark changes, with the total number of retail outlets expected to have grown by 15% in the 1 sass, presently resting at 286,774 outlets.

Share of food in household budget is 48. % in Pakistan. As indicated in Figure below, it is apparent that 48. 3% of the monthly expenditure is on ‘food, beverage and tobacco’, followed by ‘rent’. This clearly depicts the consumption pattern of an average person living in a developing country like Pakistan. There are two striking differences depicted in Figure below suggesting a clear division between rural and urban consumption patterns. Firstly, a resident of urban area pays considerably more on rent than a person living in rural area.

Cite this Line with consumer tastes

Line with consumer tastes. (2018, Mar 13). Retrieved from https://graduateway.com/shan-foods-research-paper-2/

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