MARTEX FARMS’ COOKED GREEN BANANAS: From Puerto Rico to the World Aurea G. Rodriguez VP Export, Import & Logistics MARTEX FARMS Martex Farms is a family owned business established since 1989 dedicated to the growing, processing, packing and shipping of TROPICAL FRUITS and PLANTS. MARTEX FARMS 2,500-acre operation located in the Santa Isabel and Juana Diaz valleys in the Southern coast of Puerto Rico. 4 Farms 350 Direct Jobs (high-season) 85,000/sq Pack House Forced Air Pre-Cooling Storage 12 Banana Ripening Rooms Processing Plant MARTEX FARMS Weekend Farm to Major Agri-Business World Class Team – Not your typical farmer Highly mechanized agriculture State of the art Agro-Technology – Advances in floral induction allow competitive advantage. – In-Vitro plant reproduction provides higher yields. – Varietal Research for tomorrow’s products. OUR PRODUCTS 71% MANGO 18% BANANA 7% ORNAMENTAL PLANTS 2% AVOCADO/OTHERS 2% PROCESSING PLANT Product: EXOTIC FRUITS Over 100 acres of land dedicated to growing exotic tropical fruits in Puerto Rico. Crops growing exotic tropical fruits such as: Mamey Colorado, Zapote, Zapodilla, Key Lime, Tahiti Limes,Sugar Apples, Avocados, Starfruit, and Quenepas for commercial distribution. Product: AVOCADOS & BANANAS 350 acres dedicated to bananas and150 to avocado. Leading local banana industry and avocados largest operation in the Island Vertically integrated operation. Martex produces, and markets the banana ripens in its facilities, 7 days a week. Products: PROCESSED ADDED VALUE PRODUCTS: - COOKED GREEN BANANAS Peeled, pre-cooked and ready to eat. All you need is to pre heat: 2 min. microwave 5 min. stovetop. Packaged for Institutional Market. LOGISTICS European port in 9-10 days (Port-to-Port) High-cube 40ft reefer (20 pallets) Weekly to: Antwerp (Belgium) Bi-monthly: Valencia (Spain), Livorno (Italy) USA port in 3-5 days (Door-to-Door) High-cube 40ft reefer (20 pallets) Weekly Schedule to: Port Elizabeth (NJ), Jacksonville (FL), Port Everglade (FL), Houston (TX) Transportation was once a strength that recently has become one of our biggest challenges. MANGOS – Export Markets Under the Pango Mango and Tropi Mango brands Martex exports 93% of its mango production to: - United States - United Kingdom - France - Spain - Belgium - Holland - Japan - Canada Martex caters to the retail, processing and ethnic markets. Exports: MANGOS Perishable requires: - Refrigeration - Short transit time by sea or air. Martex annually ships: - Sea – approx. 300 reefers - Air - approx. 1,000 LD3 Exports: QUENEPA Exports by air northeast of the United States 95% of our Quenepas production. Hispanic and Asian Markets Exports: ORNAMENTAL PLANTS Our ornamental plants export to our neighboring Islands could expand if an adequate transportation existed. OUR STRENGTHS! Keitt Premium Variety We grow mostly KEITT (80%) with complementing orchards of PARVIN and PALMER. We are purposely committed to the KEITT variety, with their evergreen color skin and reddish blush because it offers: Fibrous less Taste – Inside, a beautiful lemon yellow, non-fibrous flesh High Brix Content – Excellent mild sweet taste Long Shelf Life – Upward to 21 days Higher Net Yield to the Consumer – More fruit with its small seed Large Sizes – Ranging from 5 to 12 OUR STRENGTHS! Long Season Probably the only farm in the world with a 12 month mango production. PRODUCT MONTH BOX Mango Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov 4 Kg Green Cooking Mango NONE 50 Lb LOW MEDIUM HIGH Dec OUR STRENGTHS! Turning Regulation into a Competitive Advantage Martex is located in Puerto Rico and as a USA territory it fully complies with all USDA, EPA, OSHA, Labor Department and Federal regulations. Martex is also, Global GAP (EurepGAP), TESCO Nature’s Choice and M&S Field to Fork certify since 2001. First mango farm in the world to be EurepGAP certified. OUR STRENGTHS! Control of Fruit from Tree to Market We sell only what we grow Being growers/exporters allows us to control growing cycle Process the fruit from tree to container in under 12 hours Pre-cooling system to keep cool chain from packing to destination Have reliable information as to supplies Full traceability of each box LETS EAT HEALTHY PUERTO RICAN CUISINE HERE IN PUERTO RICO AND WHEREVER WE GO. Population Change in Puerto Rico Reasons Why Puerto Ricans Are Migrating to the States Main reason – – – High unemployment rate in Puerto Rico Men between ages 20 – 40 yrs Men and women with a higher education. The majority of the people that migrating to the States have a Degree and already have a job waiting for them on the mainland. These are professional jobs: doctors, nurses etc. Five States Preferred by Puerto Ricans (US Census 2000 & 2010) State Population 2000 Population 2010 Difference New York 1,050,293 1,070,558 + 20,265 Florida 482,030 847,550 + 365,520 New Jersey 366,790 434,090 + 67,300 Pennsylvania 228,560 366,080 + 137,520 Massachusetts 199,210 266,130 + 66,920 Total 2,326,883 2,984,408 + 657,525 Puerto Rico: Cuisine and Recipes Puerto Rico is a lush, tropical jewel set in the middle of the sun-drenched Caribbean. This island nation, actually a self-governing territory of the United States, is home to a rich culinary tradition known to natives as cocina criolla. The popularity of Puerto Rican cooking reaches beyond the island's shores to a large Boricua immigrant population in New York and other American cities. CARIBBEAN CUISINE Boiled green bananas are a popular side dish in Jamaica and many other Caribbean islands where they are used much like potatoes or other root vegetables. Unripe bananas are starchier and much less sweet than the ripe version and make a good side dish for fish or chicken. Green Bananas in Escabeche Sauce Preparation Time: 50 minutes Servings: 24 Ingredientes 24 peeled and cooked green bananas ½ cup red peppercorns Escabeche Sauce: 2 cups of extra virgen olive oil ½ cup of white vinegar 12 black pepper corns 4 bay leaves 3 cups of onions, cut in circles or diced in small pieces 12 cloves of garlic, sliced Preparation Fill a large pot with 2 quarts of water and salt to taste. Heat till broiling. Add the peeled green bananas and broil for about 20 minutes. Strain, let cool and then sliced in rounds. In a medium size pot, mix all the ingredientes for the escabeche sauce and cook at medium temperature for 10 to 12 minutes or until the oniones are sauteed. Do not brown the oniones. Let cool. In a large glass bowl or glass casserole dish pour the sauce, add the rest of the ingredientes and salt to taste. Flyer Nutritional Information Easiest Recipe Use the greenest bananas you can find. Latin, Asian and Caribbean markets often sell bunches of green bananas specifically to be used as a vegetable. Yield 4 to 6 servings Ingredients Green bananas -- 5 or 6 Method Wash the bananas well to remove any dirt and pesticides. Bring a large pot of salted water to a boil. Add the bananas, reduce heat to medium and cook over a low boil until the bananas are cooked through and can be easily pierced with a fork, about 20 minutes. Remove the bananas to a cutting board. Cut off the ends of the peel and remove the peel from the bananas. Serve whole or cut into chunks. Toss with some melted butter if you like. CUSTOMER PROFILE Green bananas can also be cooked with the peel off. Removing the peel from green bananas can be difficult. Working mom may not have the time to peel. Single professional may have hectic time schedule. Any person or family that wants to eat healthy island vegetables. Background information Servings per pail: 124 Freight costs Current prices: $30 in Puerto Rico Volume targets – – One container 36 per pallet with 20 pallets The Challenge Propose a marketing strategy for our cooked green bananas in the US market (specifically NY and FL) Marketing Plan I. Situation analysis Company Analysis – – – – – – Goals Focus Culture Strengths Weaknesses Market Share Marketing Plan I. Situation analysis Customer Analysis – – – – – – Who Number Type Value drivers Decision process Concentration of customer base for the cooked green bananas product Marketing Plan I. Situation analysis Competitor Analysis – – – – Market position Strengths Weaknesses Market shares Marketing Plan I. Situation analysis Collaborators – Joint ventures, and distributors, etc. Climate – Macro-environmental PEST Analysis: Political and legal environment Economic environment Social and cultural environment Technological environment Marketing Plan I. Situation analysis SWOT analysis – A SWOT Analysis of the business environment can be performed by organizing the environmental factors as follows: The firm's internal attributes can be classed as strengths and weaknesses. The external environment presents opportunities and threats. Marketing Plan II. Market Segmentation – Present a description of the market segmentation as follows: Segment 1 – – – – – – – Description Percent of sales What they want How they use product Support requirements How to reach them Price sensitivity Marketing Plan III. Alternative Marketing Strategies – – – List and discuss the alternatives that were considered before arriving at the recommended strategy. Alternatives might include discontinuing a product, re-packaging, positioning as a premium or value product, etc. How were the alternatives evaluated? Marketing Plan IV. Selected Marketing Strategy – Discuss why the strategy was selected, then the marketing mix decisions (4 P's) of product, price, place (distribution), and promotion. Product Product decisions should consider the product's advantages and how they will be leveraged. Product decisions should include: – – – – – Brand name Quality Scope of product line Warranty Packaging Price Discuss pricing strategy, expected volume, and decisions for the following pricing variables: List price Discounts Bundling Place (Distribution) Decision variables include: Distribution channels, such as direct, retail, distributors & intermediates Motivating the channel - for example, distributor margins Criteria for evaluating distributors Locations Logistics, including transportation, warehousing, and order fulfillment Promotion Advertising, including how much and which media. Public relations Promotional programs Budget; determine break-even point for any additional spending Projected results of the promotional programs Marketing Plan IV. Short and Long-Term Projections – The selected strategy's immediate effects, expected long-term results, and any special actions required to achieve them. This section may include forecasts of revenues and expenses as well as the results of a break-even analysis. Marketing Plan V. Conclusion – Summarize all the sections of your Marketing Plan. Appendix Exhibits Calculations of market size, commissions, profit margins, break-even analyses, etc. References Sources Databases Statistical Sources Journals Other sources that can sustain your Marketing Plan Good Luck!!! See you tomorrow!!! Healthy Trees… Premium Fruit… Passionate Customers!