Samyang Instant Noodles Market in Hong Kong

A growing youth segment has seen an enormous appetite of food especially instant noodles, and with the increase in a working population, the income will undoubtedly rise and so is the purchasing power; therefore a higher brand consciousness will inform the changing consumer preference. The growing trends in urbanisation and substantial population increase are some of the biggest drivers contributing to the growth of Instant Noodles industry in Hong Kong. Also, as a result, less time, very fast-paced life and huge change food preferences are also pushing the growth Instant Noodles sector in Hong Kong in particular and the world in general. Convenience or Shopping Product A convenience product is a product that does require a lot of thinking so as to purchase it.

This is a product that you buy regularly and its appealing to a huge target market and it requires little planning. Consumer products vs. business products While it is important to note the difference between a business product and a consumer product, it often lies with the convenience that the user will appreciate. Most business products are in line with the core of the business. For instance, what kind of business venture is a company indulged in? It is often the bottom line or the priority of the company (Stark 8). While a consumer product will often try to satisfy the needs of the consumers, this is made possible by a company looking at the needs of the consumer and focusing on it.

Shopping products are those that one will have to budget for and will be bought at a convenient time. Samyang line of instant noodles Instant noodle is a dish that is precooked and dried. It has flavor added to it, and sometimes they add seasoning oil. They do not mix the flavoring with the noodle block, and they pack it separately save for the case of the cup noodles whereby the flavoring mix is just in the cup. The dried noodle blocks have two ways of consuming it, as dry as it is or soaked in hot boiling water before eating. The wide appeal of the products will be based on specific lines of flavors. Our primary focus is the market of instant noodles in Hong Kong, Samyang to be specific as the market in Hong Kong has grown over the years.

Samyang product line consists of nine product lines that are not only fast going, they are also able to reduce the cost of production in that they are easy to produce with a reduction in the company's overheads, but the whole line of noodles are also delivered instantaneously, therefore, reducing the cost of production. As mentioned, the noodles are packaging of the products will ultimately be uniform as they are the same items but different flavours (Kim n. p). In conclusion, a look at the expanding market, coupled with an ever ready consumer base, Samyang launch of its noodles products will be highly received and the demand of the product will ensure that they have captured the market with the products.

Hong Kong is presumably the most favorite Instant Noodles market in the whole world. The fact that it borders China, then the demographic proximity with Japan will definitely be an added advantage, Hong Kong is surely a growing market with tremendous potential. Hong Kong is arguably a trade hub for China at the moment, Hong Kong is among the only a small list of three countries that is 100% urban. The Instant Noodles market has actually shown maturity in Hong Kong over the years and that hassled into a market that is divided into several players. To establish a loyal customer base then a lot will have to be done, with the launch nine flavors’, each appealing to a specific group then a market capitalization will not be far behind.