Miss Munazza Yummy Icecream Feb,24,2020 SUBMITTED BY: Shahbaz Malik Contents Executive Summary ...................................................................................................................................... 2 Introduction .................................................................................................................................................. 2 Demographic Analysis .................................................................................................................................. 3 Key Findings .................................................................................................................................................. 4 Descriptive analysis .................................................................................................................................... 11 Marketing Mix ............................................................................................................................................ 12 Conclusion & Recommendations: .............................................................................................................. 13 Executive Summary Basically, Yummy is a brand of frozen dessert. It is situated in Lahore. Yummy offers different ice-cream brands with different flavors and sizes. The prices of their products are somehow higher than the competitors. They only used pamphlets and posters as their promotional tools which is not enough. They should go for social media marketing and other means of marketing so they can compete other brands by promoting their products in a better way. The target community of Yummy was Punjab only. They should enhance their target market and go for Sindh, Baluchistan and KPK as well. Many other factors also affect unfavorably to company’s effectiveness like cultural values, technology, inflation and other proceedings. Yummy has only two strong competitors i.e. Walls and Omore. Yummy should focus on technology in order make its production function efficiently better. They should work on their marketing mix to get their products known and help the company to compete other brands and make profits. Introduction In 1981, Yummy Ice-cream was found by an army officer Mr. Hamid Nawaz and then it was acquired by Mr. Ijaz Ahmed in 1986. This company is registered under Companies Ordinance 1948 and its registered office is located at industrial area Kot Lakhpat Lahore. At that time, Polka was the main competitor of yummy ice-cream and after that in 1999 polka ice-cream company merged in WALL’S. In 1995, UNILEVER entered Pakistan with Ice-cream company mainly Walls ice were intended to compete with other competitors. In 1991, the company began introducing a variety of additional flavor variations that were intended to compete with other competitors Company Mission is to serve consumers with pure and quality ice cream regardless of any age distribution. Yummy has strong chain of competitors like Walls, Omore, Igloo and Hico. Yummy was the first company who introduced door to door service of providing ice cream through tri cycles and also concept of ice cream parlor in Pakistan. Yummy ice cream has their own ice cream parlors in various cities of Pakistan. Demographic Analysis Variable Gender Male Female Fre % que ncy 38 62 Graph Sales 38% 62% 1st Qtr Age 15-20 20-25 34 66 Sales 34% 66% 1st Qtr Qualification Bachelor Master others 68 14 18 Sales 68% 14% 18% 1st Qtr Father’s Salary 20-40k 41-60k 61-80k 21 35 44 2nd Qtr 21% 35% 44% 2nd Qtr 3rd Qtr Sales 1st Qtr 2nd Qtr 3rd Qtr 2nd Qtr Key Findings According to Gender 1. Key highlights of “demographic profile”: a. We collect data from 100 people. There are 38 males and the females are 62 out of 100. The percentage of male is 38% and the females is 62% out of 100%. b. We collect data from 100 people. The people who is between 15-20 are 34 and 66 belongs to 20-25 age. The percentage of group ages 34% and 66% respectively. c. We collect data from 100 people. The participants with qualification of bachelors are 68, and Masters are 14 total out of 100. The percentage of bachelors is 68% and Masters is 14%. d. We collect data from 100 people. The status of income between 20k-40k are 21 participants, 41-60k are 35 participants, 61-80k are 44 participants. 2. Key Findings of “Ice-cream Usage”: a. 92% of the participants said that they use ice-cream. b. 8% of the participants said that they do not use ice-cream. c. 38% of participants are males who used to eat ice-cream & 3% of the male participants do not us ice-creams. d. 62% participants are female who used to eat ice-cream & 5% of the female participants do not us ice-creams. 3. Key findings of “Brand Usage”: a. 14% of the male participants and 24% of the female participants use Walls as their favorite ice-cream product. b. 9% of the male participants and 17% of the female participants use Hico as their ice-cream product. c. 10% of the male participants and 18% of the female participants use Omore as their ice-cream product. d. 5% of the male participants and 3% of the female participants use other as their ice-cream product. 4. Key findings of “Reasons of Product Buying”: a. 8% of the male participants and 7% of the female participants agreed that they often buy this brand because of their Price of the product. b. 13% of the male participants and 41% of the female participants agreed that they often buy this brand because of their Taste of the product. c. 7% of the male participants and 8% of the female participants agreed that they often buy this brand because of the Image of the brand. d. 10% of the male participants and 6% of the female participants agreed that they often buy this brand because of the Other reasons. 5. Key Findings of “Buying Location of Product”: a. 7% of the male participants & 17% of the female participants purchase the product through Local Market. b. 30% of the male participants & 43% of the female participants purchase the product through Departmental Stores. c. 1% of the male participants & 2% of the female participants purchase the product Online Market. 6. Key findings of “Often Buying Product”: a. 12% of the male participants & 6% of the female participants are agreed on that they buy product daily. b. 25% of the male participants & 53% of the female participants are agreed on that they buy product weekly. c. 1% of the male participants & 3% of the female participants are agreed on that they buy product monthly. 7. Key Findings of “Satisfaction”: a. 28% of the male respondents & 49% of the female respondents are satisfied with their current brand. b. 10% of the male respondents & 13% of the female respondents are not satisfied with their current brand. 8. Key Findings of “Heard About Yummy Ice-Cream”: a. Only 12% of the male respondents & 17% of the female respondents told that they heard about this brand. b. Only 26% of the male respondents & 45% of the female respondents told that they heard about this brand. 9. Key Findings of “Information about Yummy Ice-Cream”: a. 6% of the male respondents & 13% of the female respondents told that they get the information through Advertisement. b. 12% of the male respondents & 13% of the female respondents told that they get the information through Friends. c. 5% of the male respondents & 12% of the female respondents told that they get the information through Social Media. d. 13% of the male respondents & 22% of the female respondents told that they get the information through Other marketing methods. 10. Key Findings of “Trying of Yummy Ice-Cream”: a. 9% of the male respondents & 9% of the female respondents told that they have tried Yummy Ice-Cream. b. 29% of the male respondents & 53% of the female respondents told that they don’t have tried Yummy Ice-Cream. 11. Key Findings of “Reasons for not trying”: a. 5% of the male respondents & 7% of the female respondents told that they do not buy the product due to High Price. b. 7% of the male respondents & 13% of the female respondents told that they do not buy the product due to Poor Taste. c. 8% of the male respondents & 3% of the female respondents told that they do not buy the product due to Bad Image. d. 17% of the male respondents & 37% of the female respondents told that they do not buy the product due to Other Reasons. 12. Key Findings of “Re-launching of Yummy Ice-Cream”: a. 19% of the male participants & 26% of female participants were agreed to buy the product if the company re-launch. b. 19% of the male participants & 36% of female participants were not agreed to buy the product if the company re-launch. 13. Key Findings of “Key Factors of Yummy Ice-Cream”: a. 6% of the male respondents & 13% of the female respondents suggested that the Taste is more important. b. 21% of the male respondents & 20% of the female respondents suggested that the Quality is more important. c. 1% of the male respondents & 10% of the female respondents suggested that the Price is more important. d. 7% of the male respondents & 17% of the female respondents suggested that the Other factors are more important. 14. Key Findings for “Price of Yummy Ice-Cream”: a. 9% of the male respondents & 10% of the female respondents suggested that they should have Low Price than other Brands. b. 13% of the male respondents & 13% of the female respondents suggested that they should have High Price than other Brands. c. 16% of the male respondents & 39% of the female respondents suggested that they should have Equal Prices as other Brands. 15. . Key Findings for “Location of Yummy Ice-Cream”: a. 13% of the male respondents & 20% of the female respondents preferred to buy product from their near Local Market. b. 22% of the male respondents & 39% of the female respondents preferred to buy product from their near Departmental Stores. c. 3% of the male respondents & 3% of the female respondents preferred to buy product Online. According to Age 16. Key Findings of “Ice-cream Usage”: a. 31% of the participants of the age 15-20 & 61% of participants of age of 20-25 said that they use ice-cream the same age said that they do not use ice-cream. b. 3% of the participants of the age of 15-20 & 5% of the participants of the age of 20-25 do not use ice-creams. 17. Key findings of “Brand Usage”: a. 14% of the age of 15-20 and 23% of the age of 20-25 use Walls as their favorite ice-cream product. b. 7% of the age of 15-20 and 19% of the age of 20-25 use Hico as their ice-cream product. c. 10% of the age of 15-20 and 18% of the age of 20-25 use Omore as their icecream product. d. 4% of the age of 15-20 and 4% of the age of 20-25 use other as their ice-cream product. 18. Key findings of “Reasons of Product Buying”: a. 2% of the age of 15-20, 13% of the age of 20-25 & 0% of above 25 agreed that they often buy this brand because of their Price of the product. b. 23% of the age of 15-20, 31%of the age of 20-25 & 0% of above 25 agreed that they often buy this brand because of their Taste of the product. c. 6% of the age of 15-20, 8% of the age of 20-25 & 1% of above 25 agreed that they often buy this brand because of the Image of the brand. d. 4% of the age of 15-20, 12% of the age of 20-25 & 0% of above 25 agreed that they often buy this brand because of the Other reasons. 19. Key Findings of “Buying Location of Product”: a. 8% of the age of 15-20, 15% of the age of 20-25 & 1% of above 25 purchase the product through Local Market. b. 25% of the age of 15-20, 48% of the age of 20-25 & 0% of above 25 purchase the product through Departmental Stores. c. 2% of the age of 15-20, 1% of the age of 20-25 & 1% of above 25 purchase the product Online Market. 20. Key findings of “Often Buying Product”: a. 6% of the age of 15-20, 12% of the age of 20-25 & 0% of above 25 are agreed on that they buy product daily. b. 26% of the age of 15-20, 51% of the age of 20-25 & 1% of above 25 are agreed on that they buy product weekly. c. 3% of the age of 15-20, 1% of the age of 20-25 & 0% of above 25 are agreed on that they buy product monthly. Descriptive analysis N Have you ever used ice Minimum Maximum Mean Std. Deviation 100 1 2 1.08 .273 which brand do you use ? 100 1 4 2.02 .932 why do you buy this brand 100 1 4 2.29 .902 100 1 2 1.69 .465 100 1 3 1.88 .498 100 1 2 1.23 .423 100 1 3 1.70 .482 99 1 4 2.81 1.175 100 1 4 1.82 .520 98 1 4 3.11 1.120 100 1 2 1.49 .502 99 1 4 2.48 1.082 99 1 3 2.32 .793 100 1.00 4.00 1.5100 .55949 cream? From where do you buy this product? how often do you buy this product ? Are You Satisfied with your current Brand Have you ever heard about our brand Yummy Ice cream? Where did you get the information about Yummy ice cream? Have you ever tried Yummy ice cream before What is the reason that you never tried the Yummy ice cream? we relaunched the Yummy ice cream, will you buy the product? What do you think most important in Yummy ice cream? hat should be the price of Yummy ice cream? Where would you like to buy Yummy ice cream From Valid N (listwise) 97 Marketing Mix Product: Yummy is an ice-cream manufacturer company & make ice-cream in around 36 flavors. Icecream is a frozen dessert & a specific environment to maintain its frozen condition. Yummy ice-cream uses natural ingredients rather than artificial ingredients. Products of yummy are Kulfa, Fista, Crown cup, Kiddy cup, Super corn and many more. The main issue with Yummy ice-cream are lack of continuous improvement and less use of technology. It is crucial for Yummy to improve their products and they should introduce new flavors along with the variety of different sizes. Price: Price is one of the utmost essential “P” of marketing mix. Pricing is significant because it is a remuneration to the company and must be in hand to complete other “P’s” of Marketing mix. The Prices of the products of Yummy are relatively higher than that of Walls and Omore and when there are many substitutes of the product in the market, people prefer to buy low price products. In the market where competitors are like Walls and Omore, so it must reduce prices at the level of its competitors. Place: Yummy ice-cream was initiator of the door to door service of ice-cream through tricycles to ensure their product availability in different areas of Punjab, KPK and Baluchistan. Yummy also has their own ice-cream parlors in different main cities like Capital territory (Islamabad), Punjab (Multan, Faisalabad, Lahore), NWFP (Peshawar), Baluchistan (Quetta). Issue with placement of yummy is that they have not placed their product in Sindh. Yummy has no distribution channel like other competitors. Yummy just sell their products through parlors and Tricycle. So, if Yummy wants to capture the market, they must have proper distribution channels likewise Walls and Omore. Apart from this, they must target cities of Sindh as well like Karachi, Hyderabad and Sukkhur. Promotion: Yummy uses different ways of promotion to capture the market and to increase its sales. It uses pamphlets, leaf lets, wall posting, bill boards and Pena flex. The best promotional strategy which yummy should use is sponsoring different events and participating in different children’s and family festival. These strategies increase the brand image of the company. Yummy don’t has any distribution channel to promote its products. The Competitors of Yummy are promoting their products very aggressively in order to catch the attention of the customers. They should run TVC commercial because TVC has wide reach of viewers among all promotional tools. Conclusion & Recommendations: According to our findings, the company has not adapted better promotional ways like TVC and Newspaper adds. So, company should choose these effective channels. Another issue is of the distribution channel. Company should make strong distribution channel to capture more market and also they should launch their product in Karachi, Hyderabad and Sukkhur. Moreover, the company should also consider the price factor, they must reduce its pricing strategy. Yummy should run Mobile vans across the cities to reach to the more consumers. They should make contracts with the company buyers like airlines, restaurants and canteens. Through all this, Yummy will surely increase its growth rate in the market. Bibliography http://yummyicecream.com/