3.1 Creation of Idea/ Opportunity
3.1.1 Attractive
Attractive idea is one of the opportunity that need to considered by the entrepreneurs before they start their business. An idea must be attractive to the target customers to buy their product. (Andrew Williams, 2015)
3.1.1.1 Application of Attractive
Our ice cream can be attractive to the residents around Prima Setapak. According to our research, we are the only seller that sell ice cream at Prima Setapak. Because of this, it is suitable for us to enter the market and sell the ice cream at Prima Setapak. Besides that, the purchasing power is high because more people likes to eat ice cream as a dessert.
Therefore, our ice cream shop can attract the customer to visit our ice cream shop to lead our business
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The society are focusing on their health and likes organic food therefore, our business must produce the product that is natural and healthy. Malaysians always like to eat supper and gather until late night, so an ice cream shop can provide a place for them to eat and enjoy.
3.1.3 Durable
A durable opportunity’s demand is consistent over time (Williams, 2015). These opportunities can be existing for a long time and fated to grow over time. (Feld and Wise, 2017, p.208.)
3.1.3.1 Application of Durable Opportunity
Weather in Malaysia is perpetually hot, so the customers will strongly want regularly to eat something cold. There have many population from different ages. But we found that, mostly the regular customers are kids and pupils who love to eat ice cream when the weather is hot. Gradually, ice cream become their favorite desserts.
Therefore, our ice cream business will continue operating and sustainable because whenever have different age of populations then there have the durable opportunity of ice cream business.
3.1.4 Anchored in a product/business/service that adds value to end user or
While Ben & Jerry’s has multiple strengths, it is also worth noting some of the company’s weakness and how they can combat them. Although their commitment to clean resources draws in consumers, it also losing another group of people, those who do not wish to pay extra price the company must charge to offset clean technology choices. Ben & Jerry’s is one of the more expensive ice cream brands located in a local grocery store. This has direct correlation to their lack of an exceptionally large sale
Traditional Manufacturers are the ice cream manufacturers of the erstwhile USSR which were privatized in the wake of the dissolution of USSR. They prefer using natural ingredients as compared to MNC’s who use preservatives. They have traditionally not been strong proponents of Marketing and their marketing expenses constitute 1 % of their overall revenue. They have been the market leaders in the Russian markets till date but most of them have old plants and technologies.
o The remaining $125,000 up front charge would not be owed until ICEDELIGHTS provided one acceptable location and the lease was signed
Ice cream in Russia is a very profitable business. Profit margins range between 15 and 20 %. This profit can be even greater when creating a premium product. Ice-Fili’s product value lies within raw material acquisition. Since the content of fat applied in the creation of ice cream is higher in Russian ice cream, the product is of better taste quality and unique flavor. With the Russian public placing more alarm on preservatives in edibles rather than fat content, this gives Ice-Fili an advantage over foreign competitors. In fact, Ice-Fili was the only ice cream producer awarded at the 2002 Moscow World Food exhibition for its brand Eralash. To market such prestige could help increase brand loyalty amongst customers. Ice-Fili also enjoys rather favorable brand recognition. The Lakomka brand is hailed as one of three most recognized ice cream brands in Russia....
Ben and Jerry's Ice Cream is a brand name company known worldwide. With superior marketing techniques Ben and Jerry's has positioned themselves to be the leader in manufacturing premium ice cream products. They have successfully targeted their market, and there by achieved a strong customer base. The mission statement of their product line is "to make, distribute, and sell the finest quality all natural ice cream while incorporating wholesome, natural ingredients and promoting business practices that respect the earth and the environment".(1)
In the light of the recent posture of many individuals on what they eat, we have taken the time to make us what balances your meal. We discovered that beyond the conventional food, you can enjoy your sumptuous ice cream as a unique dessert. This has made us work on our product to match your tastes and preference. Each flavor is an expression of our expertise and precision in ruling the market. We have the end consumer in mind in everything we do. We are proud that state that we have made huge investments to keep you enjoying rave moments with each taste of our Ice Cream. The name that would be etched in gold based on our drive is
Product: "To make, distribute and sell the finest quality all natural ice cream and related products in a wide variety of innovative flavours made from Vermont dairy products."
Compare the globalization approaches of Starbucks & McDonalds The parameters to be used for this comparison are:
Dairy Farm has done so by understanding the behaviour of Asian consumers, in a way that Asian consumers tend to shop more frequently, hence, they do not always search for substantially the largest stores with a wide range of products. Instead, Asian consumers prefer to shop at stores that are nearer to their homes. Therefore, it has stores that are not only centrally located within a country but all around the country. Dairy Farm also understands that the Asian market is looking at fresh goods and their quality and so, it aims to provide these at their respective stores.
Since going public in 2000, Krispy Kreme Doughnuts has posted strong growth in same-store sales each quarter, with a consistency that would make most competitors envious. According to the Krispy Kreme’s most recent quarter, which ended August 3, 2003, it posted an 11.3 percents rise in system wide same-store sales, including 15.6 percents growth at company operated units (Peters, 2003). From the financial report of second quarter in 2003, it could foretell there would be more earnings growth in the future as long as Krispy Kreme finds more new markets in which to launch doughnut shops. Its average weekly sales are in large determined by newly opened stores. This also demonstrates that the doughnuts specialist’s soaring results and rise to the top echelon of industry performers can be attributed to successful expansion.
McDonald’s USA has been feeding the American society since 1940. Recently, the company has had various issues with people posting on social media as well as questioning the restaurant’s food. Millennials created controversy about what McDonald’s was serving its customers and this showed itself in ongoing negativity between social media, blogs, and news sites. This caused an extreme decrease in the restaurants sales. The tactic proposed was to become more transparent with the public, but the focused audience was “curious skeptic” millennials.
Indian Ice Cream market can be segmented in three different ways, namely on the basis of flavors; on the basis of stock keeping units / packaging and on the basis of consumer segments. On the basis of flavors the market today has a number of flavors like vanilla, strawberry, chocolate, mango, butterscotch a number of fruit flavors, dry fruit flavors traditional flavors like Kesar-Pista, Kaju-Draksh etc. The market is totally dominated by Vanilla, Strawberry and chocolate, which together account for more than 70% of the market followed by butterscotch and other fruit flavors.
In this paper, I will be talking about the cupcake industry and economic sector. What its current and future growth rate is along with its trends, competitors and finances. In addition, I will touch base on the data that was found for this research paper. I will elaborate on the where, what, why and when to further show my reasoning for using the data.
In all the restaurants, the menu tab is full of diverse propositions that could satisfy all the needs and preferences of the clients. In this respect, McDonalds is working constantly on expanding the choice of dishes and products in terms of their quality. For instance, more and more menus and meals have specifically been designed for people who take care of their health and take only low-calorie and nutritious breakfasts. Additionally, there are also means for children and people with allergy for certain products. McDonalds is regarded the most popular an...
For future trend and growing in this industry, understanding market trend and meet customer needs is very important. Innovation in using technology to automate process can drive food industry to better growth such as using robots. Continuously create unique products to attract customer, expertise strong branding and strategy marketing trend. Strongly adopted by KFC as KFC won marketing excellence award in year 2014 and has become one of the top players in the industry. KFC will continue to expand and create an excellent result with strategy business plan in future