Marketing Research With Accent on Financial Side of the Company This project was originally done for marketing research of Ice Cream market in DFW area in 2012. In order to have it complete, we had to got through extensive research of demographics, sex, income, wants and needs of the population at the particular area. This presentation is modified to show financial position of this company among it’s competitors, ratio between price and consumer demographics, as well as success metrics in given location. Full presentation is available upon request ‘the freshest ice cream on the Earth’ Goals and Mission Statement •To give customers the freshest ice cream on earth, made just the way customers like it, just when they want it. •Marble Slab allows customers to create their own experience. •With a chef-driven vision, we’ve made sure every batch of our super premium ice cream is created with loving care right in-store. •Customer service involves not only correct preparation of the product, but also friendly delivery of the product. Market Research • More than 1.53 billion gallons of ice cream sold in U.S in 2011. • $10.7 billion revenue in 2010, with a growth rate of 4% expected for 2012. • 9% of all milk produced in U.S ends up in some type of frozen dairy product. • In 1984, July designated as “National Ice Cream month by Pres. Reagan. • 82% of Americans plan to enjoy ice cream next summer. Secondary Data Distribution of Ice Cream Consumpotion During Summer 90 Percentage of Responses 80 70 60 50 40 30 20 10 0 At least once a month Once a week Every Day Frequency of Ice cream consumption Income Distribution 2% 1% 3% < $10,000 5% $10,000-$14,999 13% 10% 11% $15,000-$24,999 $25,000-$34,999 17% $35,000-$49,999 $50,000-$74,999 24% $75,000-$99,999 15% $100,000-$149,999 $150,000-$199,999 $200,000 + • Over 63% people have an income of $75,000 or higher (2) •Upper- Middle Class (2) SWOT Analysis 1. Product Quality 1. Brand Recognition 2. Product Variety 2. Product Price 3. Product Customization 4. Customer Service 3. Seasonal Product 4. Health Concerns Competition Cold Stone Creamery High Calories Low Fat Content Contains Milk Baskin Robbins Preservatives No Mix-ins High Sugar Content Braum’s High Fat Content High Sugar Content Lower Quality Tutti Frutti Low Calorie Use Powder Base Soy Yogurt Perceptual Map Premium Quality More Expensive Less Expensive Drugstore Ice Cream Standard Quality Local Gazette Magazine • Create a long lasting channel of communication with complex information. •Create a trend, a relationship. •Full page in color for six months = $15,000 (4) • Distributed 10,000 copies 2 times a month • CPM = $380.11 Outdoor Advertisements • Capture impulsive customers. • Low cost and allows for repeat exposure. • 30 Sheet Poster (Medium Billboard): Range of $750 - $2,000 per ad per 4 week period. • Change Ad every month. 1 Billboard x 6 Months =$6,000 • CPM = $152.05 facebook Photo/ Share Contest • Purpose: Increase brand recognition & encourage current fans to share our page. • Promise: When total number of share reaches our goal (ex. 500,000 “Likes”), MSC will provide customers with a special discount. • Submit/ Share image of your creations “Mix-ins” and enter a contest to win best MSC “Creation Ever!” and create a new menu item. • New Product development. Twitter • Purpose: Expand brand recognition and engage users for feedback. • Promise: Better products and customer service. •Engage customers through social media. •Tweet 5-8 times a day. •Not just provide customers with info but also ask questions. • “Why is our ice cream so good?” @MarbleSlab ... Budget Summary Media Alternatives Cost WFAA TV Station- Commercial $27,000.00 Coppell Gazette-Local Magazine $15,000.00 Outdoor Ad (Billboard) $6,000.00 Direct Mail-Valpak $1,800.00 Facebook Page Free Twitter Free Other Digital Media (Review Sites, Email, etc…) Free Total Money Spent $49,800 Success Metrics • Currently 143K Likes on Facebook. • Currently 925 Followers in Twitter. • “Likes "growth expectation of 20% after implementation of campaign . • “Followers” increase by 20% as well as number of tweets from MSC. • Currently, 89% approval rate (with 34 ratings) on Urbanspoon. Increase to 95% (with 50+ ratings). • Sales increase in 15% at Coppell location.