I. Executive Summary The topic of the 2013 market research project is to conduct a strategy in order to increase revenue of the business through its website. We will conduct a background check of the website, and also include the current status of what their website looks like. After that, we will use various research techniques in order to conduct our SWOT analysis on the company. We will conduct our research in the main headquarters of Loards at 2000 Wayne Avenue, San Leandro. Various research techniques include the traditional survey, the online survey, and the focus group. Loard’s is a local, retail brand located in the Bay Area. There are about 20 locations in the Bay Area, with a new store opening in Santa Cruz. We plan to only focus on the San Leandro locations. Loard’s sells ice- cream and other deli goods. Their main competitors are Baskin Robins, and cold stone creamery. The company was founded by two determined people. Our group conducted three qualitative, primary researches in order to figure out the strengths, weaknesses, opportunities, and threats of Loard’s. We also conducted a secondary research in order to figure out the cost of restructuring a website. Along the research, we also conducted a secondary research in order to figure out how much it cost to put advertisements in major websites. Google, Facebook, Twitter, and Yahoo are some of these major websites. We will use the traditional survey in order to put certain information in the website. The online survey will be used to determine where to put the advertisements, and finally the focus group determines how the website will be structured. Our research methods will help us and the company improves for a successful website. The traditional survey results included the main weaknesses of Loard’s. The online survey results included the main opportunities and threats of Loard’s. Finally the focus group help pinpoint the main threats, weaknesses, but also strengths in the website. Through these findings we hope to get many information off the people so we can conduct our market research. We have implemented a three step strategic plan in order to fix the website and also generate revenue. The first step is to restructure the website. We are planning to do this, because the website is outdated . The next step in the three step plan is to add advertisement in the major websites. We call this process “Loard’s Awareness.” The strategy of this step is to gain more promotion. We will use websites that everyone uses, such as social websites and video websites. Finally the final part of the three step plan is to introduce coupons in the website. This is for the deals the customers will get. This is also another promotion idea so that Loard’s will attract customers. Through trial and error, mistakes and findings we will find a way to not only fix Loard’s website, but we will also give them a new set of loyal customers. 1 II. Introduction of the Company A. Overview of the Company Loard’s is a retail business that sells ice- cream around Northern California, ranging from greater Bay Area. The stores have a very unique structure compared to their competitors, due to the store revolves around the 50’s diners look. The ice- cream store was founded by two people; Russ Salyards and Keegan Low in 1950. Their philosophy was to serve premium ice- cream. With their fanatical commitment to their philosophy, they received the multiple awards such as the best tasting awards all over the Bay Area. Loard’s is also one of the favorite local stores in the Bay Area. There are 20 stores in the Bay Area; some even in the same locations in the original locations from the 1950’s. The store offers a variety of ice- cream from simple flavors such as vanilla, to premium flavors such as blueberry or maybe even maple syrup. Loard’s also offers a catering service. Loard’s employs a large number of multiple job opportunities usually for the younger people. The main headquarters of Loard’s is on San Leandro 2000 Wayne Ave. Their phone number is 510-351-4131, and can be reached every day except for Sunday, usually. The store is also starting to expand outside of northern California, with their first store opening in Santa Cruz. B. Structure of the Business’s current website. The website of Loard’s is found at http://www.loards.com/. The website consist of an ice- cream logo on the top right of website. There are three primary colors each consisting of these follow colors; pink, white and blue. There are nine tabs in the top left of the website; and they are in order; home, about us, store locations, events and 2 catering, store opportunities, private labels, jobs, ice cream, and contact us. The website offers basic contact information and offers all of the store and future store locations. The website gives a lot of information about their business. They state their founding, and the types of ice- cream they offer. So overall the website of Loards is very informative, but there are many things that we can work on in order to expand their potential of marketing to reach their customers. The website of Loard’s: Home Page 3 III. Research methods for SWOT Analysis Primary Research I. Focus Group: A. People of similar demographics are led by a moderator to find out the services and products of a business. B. Pros and cons 1. Get answers from at least eight different people in a short amount of time. 2. Build of the answers of other people. 3. Weaknesses; Need a strong moderator, or aggressive people will take over and sometimes the people that are interviewed might not be as truthful. Steps taken to conduct the focus groups Gather up the three age groups each ranging from 10-21 22-45 45+ Then ask them questions based on our research II. Survey Method: A. Get statistic from a group of people with different psychographics from the same geographics. B. SurveyMonkey.com 1. Similar to the survey but gets rid of the similar geographics and allows it to spread all over the nation. 2. Weakness: Not truthful and for places like Survey monkey then there might not be enough promotion. 3. Strengths: gets information directly from the mouth of the consumer. Steps taken to conduct the survey Make the survey questions both online and in person ones Ask for permission from the owner to conduct the survey on their customers Make a survey monkey account Make the question that’s for the survey Promote the website so the people can take it. Secondary Research Methods used Websites, articles, etc... that help with the findings of how to: Promote a website the right way What types of websites work best What types of website catches the eye Steps We only have one step when it comes to this method, just Google everything and find an answer with the search bar. 4 A. Steps taken to design the study and the instrument. There are various types of methods used to conduct the SWOT analysis, ranging from surveys to observation. Our group has decided to conduct multiple types of researches in order to do our SWOT analysis. Our main method is the survey. We plan to develop both online and in person surveys. We also plan to develop a focus group each ranging from three ages groups. The main reason we chose these two methods are, because we want to directly get the information from the mouth of a consumer. The survey is primary, qualitative research which gets information from a group of potential customers living in a certain area, in order to get a statistical assumption. This is a very good method because you directly get the information. The main weaknesses of these particular surveys are that people might not be truthful. Another type of survey method is the online version. One online website is called Survey Monkey. Its weaknesses are like the regular survey, and also the link to the survey might not get enough promotion to be known by the targeted consumers so basically you get no information off the website. So the main reason why we chose the survey method is because it is very quick and effective, and we can get the opinions of the consumer through their mouth. We also chose the online survey method because it has limitless possibilities of getting people to take it depending on your promotion of the website. The next type of research we plan to conduct is called a focus group. A focus group is also a qualitative, primary research. A moderator asks questions to a set of people usually the same demographics about new products, ideas, etc. This is a very good way of getting information from your consumers because you get different opinions at the same time. There are many main weaknesses of the focus group. One a 5 very weak moderator might not be able to control an aggressive person’s influence towards the other members of the focus groups. Also like the survey methods many people might not be say what they really mean, or they’re just saying what the moderator wants to hear. The main reason why we wanted to do the focus group is not only its quick and effective, but we can also get much information at least 8-12 people with the same psychographics very quickly. Even with all the information that the two qualitative research methods offer, it will be not be enough in order to fully conduct our SWOT analysis on Loard’s IceCream. One thing that we would also like to get information on good website structure and contents is getting information from websites. This is called secondary research. We really don’t want to do a lot of it, but there’s so many websites with information like this, it’s very hard to resist the offers. The main strengths of secondary research are that there at most limitless possibilities of information you can find on the web, books, magazines, etc. We think that the main weaknesses of secondary research are its creditability of the website, book, or magazine we are looking at. Although that problem can quickly be steered of by visiting websites that are very well known and highly reliable in the community, such as BBC or Yahoo. B. Steps taken into steps taken to design the study and the instrument. In order to conduct our survey we have to follow the following steps. It always starts with the permission of the owner to conduct research on their consumers. So first we need to get the approval of the manager of Loard’s in order to do the written survey to their customers. Then our group makes survey in an easy fashion, the questions will 6 be based on the actual company. Next might be the easiest job in the steps. We go around the store asking for permission for the customers, in order to take the survey. The questions will be about the company such as how often do you visit the website, but it will also have general questions about the internet such as how often do you use the internet. We will use the information we get from the written survey to describe the contents of the website. We will also plan to make a survey based online on the website Survey Monkey. In order to use Survey monkey, we must create an account. Then we have to make the questions, and then finally we post it online for everyone to see. These questions will be more general as they include questions about the internet, and your usage of it. In our focus groups we plan to have three types of groups. The link to our survey is http://www.surveymonkey.com/s/P78WJPN. The main problem is promotion, but can quickly be solved with Facebook, by posting it in our walls, about 300+ people will see it because of the amount of friends we have in it total. The main goal of this online survey is to get information on where to advertise the website, but also structure the website, and putting contents on the website based on popular demands of the survey. The questions pulled from the survey are mainly based on the customers of Loard’s and they will decide the contents of the website. The questions pulled from the online survey will decide where to put the advertisements of Loard’s in order to increase revenue by the simplest technique of attracting customers; promotion. The last method is the focus group. Since ice- cream really has no boundaries when it comes to liking it our focus groups will be based on age groups. The first one is from early teenager to early adulthood. The next type of focus group is from middle adulthood to late adulthood. The last focus group is older than the first two groups. The 7 main purpose of this purpose group is to get what website they prefer the most with three sample websites. The three websites are Loard’s, Baskin Robbins, and Johnny Rockets. They include Loard’s and their competitors or similar marketing techniques. They are Baskin Robbins (competitors, because they both sell ice-cream) and Johnny Rockets (because their styles both revolve around a 50’s diner look) The focus group is very simple as each person will say what they think of it and then vote for a favorite one. This focus group will also be asked multiple questions about each revolving around the companies. For example,” How well is the website designed and why?” would be one of the questions. The main focus of this focus group is to figure out the structure of the website. In order to do the last research technique, which is getting information of website in order to strengthen our findings? The questions of the focus groups will be used to define the structure of the website. We will look at credential websites such as Yahoo, or Google tech and none of Wikipedia. All four research techniques all connect with each other. For example the normal survey will figure out what to put in the website. The online survey will determine where to put the advertisement of the website. The focus group will help build the structure of the website. Finally the secondary research will be used to strengthen our findings so its air tight. So that’s why all of the research methods used will be useful in conducting the SWOT analysis for Loard’s Ice- cream 8 IV Findings and conclusions Findings From online survey A lot of ads on social and video websites. A lot of hours used for the internet. Many people have a mobile access to the internet Many people clicked to the ad on the internet. Pictures are what attract the website to the person’s eyes the most The favorite flavors of the ice cream from Loard’s. Vanilla Chocolate Napoleon How often they visit the Loard’s website, lack of website promotion. Strengths Easy to use Navigable Fast thorough website Well Informed Accessible Customer Service Opportunities Findings from focus group Findings from personal Survey Easy to design because of simplicity Mobile site creation Facebook Page advertisement How popular really Loards is to the people The popularity of the website compared to the other competitors The review of Loard’s website structure A comparison of Loard’s website compared to its competitors Weakness Lack of visibility or imagery Too simple Not up to date Too many tabs Wordy Threats Overshadowing of other competitor websites such as Baskin Robbins Lack of promotion Reviews 9 A. Findings We had conducted three types of primary research in order to determine the SWOT of Loard’s. We found many staggering results from all three, but also found information that’s not really surprising. When I collected the results from the online survey, we weren’t really surprised from the results, because we live in a technological 21st century. We found out that there are many advertisements on social websites, such as Facebook, Twitter, and Tumbler. There was also a lot of advertisement on websites like YouTube. One other viral information that we found out from the online survey is that it’s the pictures that attract the person’s eyes the most. What we found from the traditional survey is mainly Loard’s related. We found out that the favorite flavor is chocolate, vanilla, and cookies and crème. While they might not serve a purpose for the SWOT analysis, they serve a purpose to our strategic plan to increase Loard’s profits. We also found out that Loard’s website is not viewed often, and is because they did not know about it. From the online survey, we found out who really popular Loard’s is to the locals of San Leandro. We found out that their websites, according to ¾ of the people survey, is very outdated. Out of the three sampled websites, Loard’s was the least known, and least popular. On a good note, Loard’s was praised for the easy navigation, accessible customer service. B. SWOT Analysis 1. Strengths Through personal experience, and the results of the focus group we found many strengths to the website. The strength of the website is that it is really informative. They give lots of information of what stores they have around the area, what type of catering 10 they do, and their background history. It also gives out the information of the contact information, and job opportunities on the page so it’s easy to apply for a job online. It is very easy to use, meaning it isn’t very hard to look to what you’re finding. Because it is very easy to use, it is also very easy to navigate. Because of its simplicity, Loard’s is a very fast website. There’s no flash, gifs, and really no pictures in the website that allows it to browse to pages much faster than its competitor’s website. So the plan is to develop the website off what it originally is. From feeding off its strengths we plan to making the website more up- to- date, with pictures that catch the customer’s eyes. With all this, we want our company to strive against each other competitors and to become the best it can be in the ice- cream market. 2. Weakness We found many weaknesses to the website. First it lacks imagery and pictures, which might damage how long the customer wants to stay on the website. We got this information from the online survey we created. One of our questions was “What attracts your eyes when you visit the website?” The post answered response was “pictures.” Those are what Loard’s lack the most, so it is in fact one of the main weaknesses of the website. More weaknesses that we got were the structure of the website. In our focus groups there were three age groups in order to maximize the opinion of the website. Almost everyone in the three groups agreed that Loard’s had the worst structure of the three sample websites. It also contained too many words for them to read. Another structure problem is the tabs. There are nine tabs, but about half of them can be synthesized into one tab. The coloring is also horrible. They don’t really match that much. Finally the last weakness that it contains is it’s over simplicity. 11 According to most people they would rather have a website looking gimmicky, but also simple. They want the website to be in between. 3. Opportunities Since Loard’s Ice cream’s website is nice and simple, it is a great opportunity to capitalize on that opportunity to change it and make the website to its full potential. By changing around the information making it less wordy, and make it into the website that people would love to visit and come see, and eat their favorite types of ice cream. This will rill in new customers to the inexpensive price of the Bay Area’s greatest ice cream. Another opportunity we can award Loard’s is the ability to use the mobile website. It’s for the people with smartphones or IPods that can access the website much easier. In our online survey, for 95% of people had some type of smartphone. Loard’s can also make a Facebook, Twitter, and Tumbler page in order to increase awareness about the website. In our focus group a lot of people knew the website of Baskin Robins or Johnny Rockets because of Facebook pages, and commercials. Another great opportunity it has is its simple website. It will be very easy to redesign, because there is really nothing to fix. 4. Threats Loard’s contain very little threats, but it alone can harm it. First it is overshadowed by the national chains. For example more people in the focus group knew what Johnny Rockets was compared to Loard’s. Because of that reason, Loard’s second threat is that it contains no promotion whatsoever. 12 V. Strategic Plan A. Proposed Strategic Plan After analyzing the SWOT analysis of the company our group came up a very specific strategic plan for Loard’s. It consist of three steps, in order to not only restructure the website, and gain Loard’s awareness, but also attract customers with amazing deals that it’ll offer when the plan succeed. Our first goal is to restructure the website. Many people from the surveys to the focus groups all agreed on more pictures less word. So our plan is summarize the long paragraphs of Loard’s and to put pictures that will attract the customer’s eyes. We will take the info from the personal survey and put the most popular ice cream in the website. That way people can see their favorite flavor online. Another way to restructure the website is to fix the wording and the colors of the website. We plan on using better colors for the website. Step two of our plan is to rise what’s called “Loard’s awareness”. It is to promote the website in major websites such as Google, Facebook, and YouTube through ads. We want to put it there because many people in the online survey saw many ads on those websites. They also tend to visit those types of websites according the online survey. This will be a great opportunity for Loard’s because many people tend to visit those types of websites. We went to put the ads of Loard’s locally because Loard’s only exist in the Bay Area. After completing the first two steps, we can precede to the last step that will give them a profit. Step three is putting up coupons on their website. It is because once the people know about the website then; they will go to their website because of the ads. Then, they see a coupon it will give them a better chance because of going to the store because of the deal. 13 B. The timeline of the strategic plan. The three plans will range between 6-10 months depending on the cooperation of the major corporation. The plans have to be in order, because it’ll mess everything up. For example when we do the “Loard’s Awareness” plan first, and people will see the website, but it hasn’t been restructured yet. What will the people looking at it think? The first step of the plan will take about 3-4 months; it will be the longest to plan. First we got to hire a webmaster to build the website. Then the hard part comes. Planning for the restructuring the website. What do we put it the newly website? What not to put? Whatever the choice is, it’ll probably take a while to plan where to put things in the new website. The next part, depending on the cooperation might take the shortest, or the longest. Asking for permission will be very costly depending on your status, but can happen way faster than the restructuring. We will do this by hosting in probably the Facebook website. They have two types of ad campaigns, “Cost for clicks,” and “the Cost for 1000 impressions.” They will both cost money, but once you do it’ll be fairly easy to set up depending on how much money you put. Finally the last step in our three step plan will even take shorter. Put ads of coupons in the own website will probably take up to less than a day because of the webmaster or skilled computer person who can put it in the website really easily. C. Cost of the strategic plan. The three plans to not come cheap, they will actually lose money before they can gain any money, like all starting businesses. Remaking a website can be as low as 2,000 dollars and be as high as 100,000 dollars. We don’t recommend the 2,000 dollar one, because that is the basic website like no gifs, limited pictures, etc. It’s what Loards 14 began with. Our estimated cost for this website is about 11,000 dollars, because not only can it add more appealing things to the eye of the customer, but it can also perform its own updates. It means that they don’t have to pay extra for changing the website. They will also be a one time payment, so when they pay they are done with it. There is no monthly thing going one. Hiring a webmaster can be costly about 10 dollars an hour, depending on how skilled you want him to be. Asking a webmaster to design your website for a week after you give them the plans, with a 4 hour work day can total 280 dollars, which isn’t a lot. Next the advertisement cost. For Facebook, they have two campaign acts the cost for 1000 impression and the cost for click. The cost for clicks is not a set amount of money while the 1000 impression is. The cost for clicks is when you click on an ad and they see it, the company that put it up has to pay a certain amount of money. It can range from .01- beyond. The more you pay the more likely it is to appear on a newsfeed of a person. The cost for 1000 impressions is when you pay a set amount of money and they appear on the newsfeed. Like the cost for clicks its likeliness of appearance will show on how much you pay. Our plan for Loards is to pay .40 cents for the cost for clicks, and 5 dollars a month for the cost of 1000 impressions. At a month they’ll be spending 5.40 cents a month of advertising in Facebook. What they can also do is to buy the like plan. It is when they pay 297-597$ and Facebook will recommend people to like the page. The coupon plan depending on what type of sale they decide to do will dictate who much it will cost. What if they have a 20% sale, or a buy one get one free, whatever it is, it is up for the company to decide. D. Valued gain of the company after the strategic plan 15 Like we said the company has to lose money before they can gain money. The best successes Loard’s will get are all the promotion they will receive thanks to our three step plan. We estimate Loard’s will remake all the money it lose in about 2 months and then make money exponentially due to all the people hear the word about Loard’s. For our goal, we want to also generate the company as a successful family oriented food serving establishment. As you may know that as the restaurant grows, it will also grow with the expansion of the website. This is the goal that our group and our participating company are trying to do as a team. To make the establishment better for all over the Bay Area and to the potential customers that Loard’s ice- cream will gladly serve the upcoming years. VI. Bibliography Survey Traditional Loard’s Research Questions (15 people) 1. 2. 3. 4. 5. 6. What is your favorite flavor in Loards? Did you know that Loards had a website? How often do you visit Loards? If you did see the website, rate it from 1 to 10? Do you think a lot of words are necessary in a website. Do you like pictures more than words to describe things? Survey Online ( Separate Page) 26 people Focus Group questions 24 people different age groups Look at the three websites. Rate one from 1-10 Do you know each of the three company? 16 Which one looks the best? Which one looks the worst? VII. Appendix Website of Loard’s: 17 Website of Baskin Robbins: Competition because of selling similar products Website of Johnny Rockets: Competition because it revolves on a 50’s diners look 18