The Competitive Challenges in China's Prepared Dishes Industry: A Focus on Anjoy Foods

Abstract

This research investigated Anjoy Foods Co., Ltd.'s strategies in China's prepared dish market amidst the COVID-19 pandemic, focusing on the period 20202023. The pandemic led to a surge in demand for prepared dishes due to changing consumer behaviors, such as reduced outings and a scarcity of fresh food. Despite Anjoy Foods' revenue growth (from 673 million RMB in 2020 to over 3 billion RMB by 2022), its gross profit margin declined from 29.72% in 2018 to 11.42% in 2022. This paper employed the marketing mix theory (product, price, promotion, and place) to analyze Anjoy Foods' market strategies and identify key areas for improvement. The research highlighted that Anjoy Foods' product line fails to align with the growing consumer interest in health-focused and convenient food options. It also notes the company's premium pricing strategy as a disadvantage in a price-sensitive market. Additionally, the study pointed out a reduction in promotional activities, particularly in digital advertising, which affects engagement with key demographics. The paper suggested strategic innovations in product diversification, adopting tiered and value-based pricing models, and enhancing digital marketing efforts. These strategies aim to realign Anjoy Foods with evolving market demands and consumer preferences. The conclusion emphasized the importance of continuous adaptation and innovation for market competitiveness, recommending further research on practical strategy applications and broader market trends.