Color Me Cupcake will be a small entrepreneurial bakery located in Chicago, IL. Cupcake will be offered in a variety of cupcakes and beverages. This bakery will contain comfortable seating area, WI-FI access, allowing customers to stop in and socialize and conduct business while eating some delicious cupcakes. Color Me Cupcake will have on site company truck selling cupcakes at major events like the Taste of Chicago, and a catering service is also available for customers who are having large events like weddings, birthday parties and business events. As a bakery, Color Me Cupcake will market on a broader scale. People of all demographics enjoy eating delightful cupcakes, and will therefore be included in the target market. Cupcakes are a very reasonable item to purchase; they are obtainable by nearly anyone, despite varying incomes, again keeping the target market on a larger scale. Between the numerous product options, the broad target market, and convenient services, this bakery will be able to meet the needs of a wide spectrum of consumers.
Product quality is very important in the food industry. For this reason, Color Me Cupcake will make certain that product quality is beyond exceptional. We will only use fresh ingredients, sale only fresh cupcakes, and make sure we have a focus point on cleanliness. Innovation is definitely a major good of the company. One way to accomplish is through creating new and fun flavors of cupcakes and frostings on a monthly basis and this will only be offered for a limited time. This will give the business the opportunity to test out new products to see how consumers like each flavor. Color Me Cupcake will also have signature cupcakes that will be available during every holiday season....
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...tering service will be utilized by local Chicagoans for larger events such as weddings, birthday parties and business affairs. The products of Color Me Cupcake will be greatly appreciated by all consumers who simply enjoy delicious treats. Whether consumers are looking for that rich and delightful cupcake or the low 90-calorie cupcake, this bakery will guarantee to meet their needs. For consumers who are looking for a comfortable sit down atmosphere with a little dessert, Color Me Cupcake is the place to be. Local Chicagoans and tourists visiting the downtown Chicago area, with varying ages, different income levels, will all be included in the target market of Color Me Cupcake.
B. Marketing Mix
1. Product: Cupcakes are the key products of Color Me Cupcake, and product quality will be the importance to our success. To ensure product quality the bakery will show
The larger serving size of Great Cups of Coffee is perhaps the most apparent gage that will improve appeal for the company’s customers. Receiving extra of a proportionately quality product for a comparable price obviously works as an enticement for customers to prefer Great Cups more than the opposition. While customers identify with a better quality and superior taste with fresher coffee, Great Cups supports its effective model of serving coffee that has been roasted no more 72 hours ago and that is blended and ground right at the store. Great Cups also provides as an unintended marketing method community bulletin boards and assists with book club gatherings as well as
This diversity will make for a powerful word of mouth marketing campaign using social media to spread the word and the television and online advertising efforts offering a money-back guarantee, free samples and community website links. We will focus on both the “Bohemian Mix” from this geographic area that includes people from these ethnic backgrounds in households made up of a mixture of different family members from different age groups, but under age 55, many with pets, who like to try the “newest coffee brew” or product. Their median income is over $56,000 a year and they are upwardly mobile. We also chose the “Young Digeratis” who are made up of the wealthier and younger family mix ages 25 to 44. They like to stand out above others and only accept the highest quality of food and drinks. They drive the most expensive autos and spare no expense on their clothes and
The key to its success lies not only in the quality of its products but also the ability to differentiate itself from the competition. With Starbucks, it has always been about quality. The company manages stringent quality control measures for sourcing the finest coffee beans, roasting processes as well as customer service and ancillary products. Furthermore, differentiation is key to market control and Starbucks is unquestioningly the most differentiated specialized coffee brands in the world. From the design of its coffee shops to the music played to the types of products offered, everything has a touch of uniqueness.
Coffee, one of the world’s most known beverages. Seen being drinking at work places, colleges, or in the convenience of your own home. There are a variety of companies that provide us the people with coffee. It can be your local market, bakeries, or even fast food places. 3 places that stand out and our known very well for supplying Americans with coffee is Starbucks, Dunkin Donuts, and McDonald’s. From their strategic advertising, deals, and even straight down to the design of their cups, they meet the definition of marketing. We will be examining these 3 companies using the marketing mix which consist of product, price, place, promotion and also cover value based marketing and see how these companies meet these definitions and how they satisfy their customers as well.
The above-mentioned customization of products leaves United Cereal with a good opportunity of gaining market share. Customized products are highly adaptive to traditional habits of citizens, and thus create a strong penetration into the individual market.
M&M Minis are marketed toward kids by using an energetic marketing forum. They are usually shown running, jumping, and sliding around all over the place. There is a new flavor of M&M's specifically targeted at the increasing American Latino population. This new flavor is called dulce de leche, or caramel. Caramel has been a staple in the Latino diet for many years, so it is clever for M&M/Mars to develop this product and direct it towards Latinos. The elegantly packaged holiday gift box of chocolates called "Creations" is directed towards middle-aged women because it allows her to give a gift that she knows will be appreciated. It looks like it costs a lot more than the actual price and it is a familiar product everyone likes. The new confident image of the green M&M is aimed at women. Women can relate to her sexy and self-assured attitude. Women can also appreciate that "green's" allure comes from her personality and not her figure. M&M's works hard to make sure that their brands are at the back of consumers heads all ...
Market research and information about the industry is very important to the organization because it will allow the organization to position itself well in terms of sourcing chocolate raw materials and in identifying the market for its products. For example, understanding that some chocolate product purchases are seasonal, e.g., at Christmas; around Mother’s Day; and, on Valentine’s Day, allows the organization to have more product on hand and to create displays, in store, that will increase purchases and attract more customers when existing customers tell their friends about the availability of high end products, at reasonable prices, in their store.
Starbucks is the world’s largest coffee roaster and retailer of specialty coffee in the world. We have enjoyed great dividend returns over the past 5 years, and our growth has been on the rise. We are currently saturating the US market, while the emerging markets of developing countries offer many possibilities for growth and increased revenues. In our US market we should look at offering more items on the menu that complement our long-standing tradition of pleasing our customers. Exotic Juices, and snacks served with the same service could add a nice margin to the bottom line. In addition, the ability to offer a drive through service for the consumer that loves fine coffee but does not have the time to stop and visit should be on our “trial” market plan for the next few years.
Starbucks and other companies have found a new way to add economic value, and what they are selling is emotion and a feeling of belonging. Companies have now stopped trying to sell just their products, they are now making you feel good about buying their product. Bill Silver uses the example of the blueberry muffin. If you buy the blueberry muffin, then you get to eat a tasty pastry. But if you don’t buy a muffin, you still feel good about yourself because you resisted urge of buying that blueberry that would have costed you money and make you not as
This memo contains the answers to Questions 1 through 4 from the International Marketing assignment titled, "Krispy Kreme Doughnuts Going Global?" The questions are offset in the shaded area and the answers are provided below each question.
Lisa Aham’s strategy is mostly a target marketing approach because it emphasizes in particular to senior citizens in a city with “many citizens”. She offers specific breakfast specials for seniors 55 and older on certain days of the month to promote a creative strategy and obtain new customers. The special is done every 4th Monday of the month, offering $1.99 meals and free coffee refills. Her strategy to promote this special has brought more than 100 senior citizens on that day of the month but moreover has created a gathering environment every day of the week for this group of people.
Demographics of the area show the largest consumer base as professional adults and students ages 24-54 with household income of $52,000 and up. The primary target market are the professional wage earners, which will be a high proportion of customers that will have a greater demand for the product, the age and income breakdowns show that a large portion has enough disposable income to be able to patronize Rooms for Dessert upscale dining and entertainment. Sub-segment market is based on the heterogenous approach, “The heterogenous approach taps into the differences between consumer demands. Segmenting the market into bite-sized chunks allows your company to cater to individuals” (Bradley., N.D.). Rooms for Dessert will target customers desiring a sweet treat not necessarily a high-end dessert such as customers who are generally not concerned about health or
Bruss (2001) argues that the company hopes as well to make new investments in new coffee types. Starbucks has recently developed a new type of coffee called green-coffee. These strategies are created with the objective of support Starbucks’ commitment to buy coffee that has grown and processed by suppliers. They meet certain conditions of social, economic and quality standards. In addition to that, the company is paying additional premiums to those vendors who meet the specific requirements that the company wants.
Premium and dark chocolate are the strongest segments of the market in the United States in terms of growth, though not market share. Unique products and consumption experiences are keeping consumers coming back for more.
The chief element of Krispy Kreme's strategy is to deliver a better doughnut and to appeal to customers in new ways. They have taken great steps to insure customer satisfaction from the use of their proprietary flour recipe to their automated doughnut making machines. They have chosen to target mainly markets with 100,000 households. They also were exploring smaller-sized stores for secondary markets.