Marketing:
Product: Huy Fong Foods makes three products, Sriracha Sauce, Chili Garlic Sauce, and Sambal Oelek (Hammond, 2013). All these products use the same …show more content…
However, they are some other companies that produce Sriracha sauce including Heinz, Tabasco, Kikkoman, Trader Joe’s, Thai Kitchen, and Lee Kum Kee (Lopez-Alt, 2013).
Geographic Representation: Huy Fong Foods Sriracha sauce is available in United States, Canada, and in Europe (Ferdman, 2013).
Promotion: Everything is done by word of mouth. David Tran has never spent a cent on advertising or promotion of his product (Hammond, 2013). This is because there is such a demand for his product he can barely keep up (Ferdman, 2013).
Pricing Method/Strategy: Even though he could charge a lot more for his product due to its popularity, David Tran goal was to make a rich man’s sauce at a price a poor man can afford (“Huy Fong Foods, Inc.”, n.d).
Position/Differentiation Strategy: Huy Fong Foods only use locally sourced chili peppers, as compared to their competitors who import chili peppers from all over the globe (Kaufman, 2015). Huy Fong Foods believes that using locally sourced only provides them with the freshest pepper and superior taste (Kaufman, 2015).
SWOT – Analysis:
Areas of strength: Strong fan base, large corner on