Example of “Marketing objectives” and “Industry Research”
Marketing Objectives
Marketing objectives help a company establish goals that they can realistically meet and use as
checkpoints. Overall, these goals and strategies are set to aid in the achievement of Menchie’s business
objectives for the Italian Market.
New Market Goals
●
Increasing customer advocacy by implementing a customer ambassador program to ensure we
are appealing to our target consumers.
●
Increase customer inquiries by 5,000 customers a month.
Meeting Consumer Needs
●
Reduce consumer challenges and make the experience, kid, and user-friendly.
●
Establish a 94% excellent customer service and experience rating each month.
Gaining Competitive Advantage
●
Publish weekly articles and ads defining the strategic differences from competitors, targeting the
audience to increase brand presence.
●
Improve brand recognition, gain and retain prospective consumers especially amongst the 7-35
age group.
Increasing Market Share
●
Demonstrate revenue growth by 10% in the first year of opening.
●
Implementing new flavors and promotions, increasing traffic by 5% every month for the first
year.
Industry Research
To further analyze the competition, our main competitors are the companies that sell gelato and frozen
yogurt. Gelato originated in Florence, Italy, and is considered to be the most traditional dessert in Italy.
According to Albanese and Salzano, “Italian ice cream makers whipped up 595 million liters (157 million
gallons) of gelato last year, or 19 percent of total EU production, according to official statistics”. That
would be about 6.8 billion scoops of gelato; they ranked first in gelato consumption around the world!
While gelato may be Italy’s prominent go-to dessert, frozen yogurt is present in Europe, especially Italy.
Studies show that healthier individuals turn to frozen yogurt when they have a sweet tooth. Over the
years, globally, the world has become more health-conscious, which could aid in the growth of the
frozen yogurt industry. While North America is the largest market for frozen yogurt, Europe, and other
markets look promising (see Figure 2).
Global Frozen Yogurt Market and Growth
Conducted by Mordor Intelligence
(Figure 2)