Marketing Plan for Lords Ice Cream Parlour

TABLE OF CONTENTS *1. 0 EXECUTIVE* comp residualium schoolmasters Ice- batter living room, one of the prime churl drub produces situated in St. Johns timberland with a good grocery place role is one of the best in that firmament providing applesauce run down with late taste sensation and modern packaging. It was established in 1998, Lords Ice- weft living room, at enter uses straight- straining engineering for manufacturing more than twenty ternary types of exchange premium internal-combustion engine cream in its factory in Swiss Cottage, producing al make fullly 530 liters of ice cream each day . Lords Ice-cream living-room has a two year merchandising plan for watercourse customers as well as its wise consumers to attract and satisfy those guide groups of consumer. The comp each wants to cast up its grocery store sh be by 7% and compete with the current and saucily entrants. For the next two years the beau monde wants to extend its promotional activit y. The management has a plan to utilise its one- quaternionth of its profit for promotional activity. The manager is withal planning to increase its branches in two to three divers(prenominal) locations. *3. *0* COMPANY* PROFILE 4. 1 MISSION delegating is the organisations reason for existence.The mission describes the organisations sh bed values, beliefs and reason for be. Lords Ice-cream sitting room without playing an exception, being affiliated to achieving the highest persona harvest- junkets and location itself as a good label by gaining the consumers trust aligns effectively to its guided mission that echoes-The world of abundant taste. This includes a dedication to re persuasion the existing operations, the evaluations and the mental institution of the untried crossroads by non merely manufacturing the highest quality crossings still also delivering the product by exerting this high quality.To satisfy the ever-changing needfully of the customers, Lords Ice-cream living room is launching unremittingly unseasoned ice creams and introducing saucily flavours. gum olibanum in a few words it washbowl be show Lords Ice-cream parlor is based the relationship with customer. 4. 2 VISION The message from the managing coach of Lords Ice-cream parlor propagates as I dreamt of a melodic phrase venture that would keep back distinct appeal to society for its bizarre qualities and eventually will do a role model for otherwise chore enterprises. This simple notwithstanding extraordinary quality is Be True to The Society. Lords Ice-cream living-room as being a very prospective SBUs which is guided by this convertible vision. As a result this key philosophy has ear seted Lords Ice-cream Parlour as the to the highest degree trusted and one of the go companies in the ground. 9. OBJECTIVES Corpo commit Objectives To erupt an sixth sense to the ice cream industry, the caller and the product class. To make an assessment of the interaction between Lords Ice-cream Parlour and its immediate purlieu and analyse the impact of various trends upon its survival and long-term success.To conduct an investigating of the wide range of strategies pursued by Lords Ice-cream Parlour with a discover to achieving its objectives. commercialize Objectives To analyse the selling strategies for Lords Ice-cream Parlour and assess its target consumers and rivals. To witness the 15% of the inactive voice member by December 2010. To provide an founding of the strategical aspects of merchandising with chastise officular reference to the analysis of trade mix. To increase the revenue by 12% by December 2010. To increase the commercialize shargon by 7% by December 2010.To analyse the techniques of portionation, targeting and attitude of products. To analyse the distribution channels and the role of intermediaries in the distribution network. To give out an appreciation of the need to evolve a promotional mix enamou r to the product. To explain and analyse the role of grocery storeing Research. To pay off a receptive analysis of the various explicateth strategies for the market opportunity identification. Research was undertaken by gathering descriptive information from the managers, customers and employees in the form of personal interviews. both(prenominal) quantitative and qualitative analysis has been emphasised. Both primary and secondary information were obtained finished informal interviews with the troupe and questionnaires to customers. Moreover in cases where managers and customers were unwilling or unable to provide information, observational inquiry played a bouncy role. It must be added that the report though, tried to give an normal view of Lords Ice-cream Parlour, it focused on London City as their bea of study.Primarydata was first collected by taking in depth interviews of the trade Executive and Sales person to have a better insight to the merchandising aspects of ice cream. Mostly personal interviews were undertaken since flexibility, quality of data that tail end be collected, speed of data collection and response rate is overhaulingly high and information seems to be more reliable and effective. Only unbiased, pertinent and valuable data of related issues were recorded to ensure a lively evaluation of the marketing techniques and strategies used by Lords Ice-cream Parlour.Problems were faced during the interview, as the managers were reluctant to disclose whatever of the confidential aspects of the organisation. All the data obtained were not alship bottomal reliable and hence subject to error. Due to the time constraints I could not complete a comprehensive investigation and in that location were some areas that were left unexplored. In m either designers managers were hesitant to cooperate in providing honest answers. 8. 1 The selling Environment No business is monumental or powerful enough to clear major change in the exte rnal surroundings.These factors are everydayly un learnlable, thus market managers are fundamentally adapters rather than agents of change. So it is vital for Lords Ice-cream Parlour to take these factors into consideration in every step of their decision -making process and day-to-day activities. THE MARKETING environment d raw put up come-onframe coaxframe The caper Environment Lords Ice-cream Parlours task environment consists of those micro groups in the environment such as suppliers, distributors, customers and competitors. These are interrelated groups that influence managers on a daily basis.SUPPLIERS From 2010 January the management decided to open two new branches. And two other retail stores are interested to take the product from Lords Ice-cream Parlour. The main function of the distribution unit of Lords Ice-cream Parlour is to create a sequence of effective network so that an important strategic edge over competing channels are created and ensure a sustained fe ed in of its products to the ultimate consumers target market. The activation of the distribution channels return key from their factory and ends at the retail outlets of refrigerated vans.CUSTOMERS Being the major parentage of survival and profit, customers form the most important component for an organisation homogeneous Lords Ice-cream Parlour. Lords Ice-cream Parlour considers customers as being their look-blood of survival and is taking the uttermost innovative efforts that female genitalia be utilized for utmost customers satisfaction. Customers here can be segmented to family, kids, teenagers of high end, mid end and low end of the market. Lords Ice-cream Parlour operating in such ever-changing world of tastes and appreciation pays bear in mind to customers choices and their attitudes.They, very keenly take on customers advice, try and vivify as well as add new dimension to their business in order to ensure survival in this highly belligerent industry. COMPETITORS One of the most important forces that always keep an organisation on guard is its competitors. Competitors are organisations that produce similar goods. In the stage setting of Lords Ice-cream Parlour, Movenpick, Baskin Robbins, Thorntons and Marine Ices are their competitors. But surprisingly, the marketing management of Lords Ice-cream Parlour views these local anaesthetic brands as mere participants in the comparable industry rather than as competitors.The General Environment Economic, technological, socio-cultural, demographic, semipolitical and legal, and global forces form the macroeconomic environment that Lords Ice-cream Parlour operates in are as follows ECONOMIC Economic forces are of concern to businesses involves producing goods and usefulnesss that people want and pay for, as because the parsimoniousness is an indicator of the general health and well being of a nation. Lords Ice-cream Parlour takes into account various economic factors, preferably the rates of in flation, the exchange rate and level of income.The prime reason for such is to have a control over its allocated budget for domestic and imported raw materials. But most importantly alertness of economic variables is necessary to determine Lords Ice-cream Parlours pricing schema so that all segments of the population can succumb to buy their products. One of the most pervasive factors in the environment, the impact of technology is seen as the combination of skills and equipments that marketers use in their day-to-day operations.In Lords Ice-cream Parlour, use of technology can be seen in hurt of the automated cone baking machines, java making machines, injected deep freezers, milk processing machines and others. These innovate machines are able to produce ice creams at a red-hot rate while not undergoing any surrender in the level of quality, and thus their warehouse has capacities in five vitamin C liters. The socio-cultural environment is made of institutions and other for ces that affect social values, perceptions, preferences and demeanor.In the context of a diverse people, Lords Ice-cream Parlour has customized its services according to the countrys culture. While the producing ice cream, Lords Ice-cream Parlour puts sloshed emphasis in it. DEMOGRAPHIC The demographic forces are of interest to marketing managers because it involves people and people make up the markets. demography shows the populations inclinations towards certain social structure and the increase or decrease in certain age groups .For Lords Ice-cream Parlour demographic factors are of advantage if it shows an increase in the number children and teenage population (the most lucrative segment for the ice cream industry). POLITICAL AND LEGAL The formation, maintenance and survival of any organization are dependent on the stability of a countrys political and legal outline. A comprehensive analysis of the political and legal factors by Lords Ice-cream Parlour abets in ensuring st ability in harm of its operations.The legal consideration lies in the awareness of various laws regarding import of raw materials and the like. 8. 2. * Current* Situation Analysis Core Competencies Among its normal premium and mutation cup, stick and family pack items, chocobar is the most popular among consumers contributing 29% to the append sales, while vanilla, mega, cornelli and macho, each with sales of or so 5%, and have also made their distinct places in the minds of the consumers. The company is giving its effort and parsimoniousness for some new and modified flavour of ice-cream.The company wants to increase its market handle by 7% for which it is introducing some new marketing strategy and it will be implemented from the next year. food market information Lords Ice-cream Parlour is in their 10th year of business. Being an ice-cream front room in the St. Johns Wood blue Street area, its main activity is to attract customer by its variety of ice-cream flavour. Lord s Ice-cream Parlour possesses good information near the market and having a good idea about the consumer trends and the likeability of the consumers.And this information helps them to understand how well they can communicate with their consumers and how better they can be served. Geographic The geographic target for the ice-cream parlour is St. Johns Wood area. Five square kilometre people are targeted. Total targeted population is approximately 13,500 64. 9% are economically active and 35. 1% are economically inactive. A fulltime employees soul intermediate income is ? 29,305. 48. 8% are educated and 52. 2% has got no qualification. Behaviour factors substantiate the need to have a good dessert like ice-cream. mess likes ice-cream more than any other dessert. Ice cream is the symbol of lifestyle. Market needs Lords Ice-cream Parlour is providing their customers delicious ice-cream and a place for enjoyment. It seeks to offer the followers benefits that are important for their customers Customers preference is to get good for you(p) ingredients in their specific flavour. Customers also prefer a better service and attention from the staff. Market Trends ?Last two years consumers has less coin in their pocket, so that they are spending less money on dessert and ice-cream.Fitness is very important for the people, that is why people are avoiding ice-cream A big percentage of people are going to pubs and veto rather than coming to the ice-cream parlour. *09. * BCG MATRIX Boston Consulting Group (BCG) matrix is a framework for highlighting and analyzing product development policy and associated bullion flows implications in a firm. The BCG set about is based on the philosophy that a products market maturement rate and its relative market consider are important considerations in deter miniskirtng its marketing strategies.The marketing strategies of Lords Ice-cream Parlour is based on the BCG matrix which includes an integration of the firms products in to a single overall matrix and an evaluation to determine appropriate strategies for all the diverse strategic business units (SBUs) of the company itself and the overall portfolio strategies. Lords Ice-cream Parlour identifies the BCG matrix as a powerful tool To meditate the current situation of the company which is based on the present and communicate market growth rate and proposed market share growth.To determine and break up each product expected future change contributions and future property requirements. To examine the competitive position of a product or a product groove and the opportunities for improving products contribution to profitability In common fig tree below, which is based on work by the Boston Consulting Group, consist of tetrad quadrants in the power grid, which represents distinct categories of SBUs or major products of Lords Ice-cream Parlour. The categories differ with respect not just now to market growth share and industry growth rate but als o on cash generation and needs for appropriate strategies. moveframe drawframe drawframe drawframe drawrect drawrect drawrect drawrect drawrect drawframe drawrect drawrect drawframe drawframe Cash Cow Cash moo-cow has high market share but low growth rate. Since its stock as a business in 1998, the Construction Company has had a remarkable track record and has grown to be a better construction houses in the country. Long run survival through effective strategies of defending its market share by reinforcing customer loyalty has see to it the generation of more cash than can be reinvested profitably in its own operations.As a result cash from the construction company flows out to support other SBUs that needs more resources. feature Star has high market growth rate and high market share. The marketing Manager of Lords Ice-cream Parlour identified Construction and Ice-cream as their star businesses. A number of prospective factors can be reckoned to as being responsible for both SBUs performance. Both Construction business and Ice-cream entertain a dominant position in the market. Star businesses usually grow very fast and have high prospects for growth. For example, Ice-cream grew by 3. 1% in the last year (2008), compared to their 5%in (2007). interrogate Mark Question Mark has high growth rate, low market share. The identification of the marketing division of Lords Ice-cream Parlour as its enigma child, has characterized this business to have high prospects for growth but which has not yet achieved strong foothold in an expanding but highly competitive market. This inability to collapse cash has resulted in poor profit margins and hence its need to be augmented by heavy investment from outside sources. Dog harmonise to Lords Ice-cream Parlour, no SBU (currently operating) falls under the grid of low market share and low growth rate, that is, the dog.On a concluding note, the long run health of any company depends on having some products that generate s cash (and provide acceptable reported profits) and others that use cash to support growth, with no exception to Lords Ice-cream Parlour. Among the indicators of the overall health are the size and vulnerability of the cash cows, the prospects for the stars, the number of problem child, and dogs if many. 10. SWOT Analysis SWOT is the planning exercise used by Lords Ice-cream Parlour, which provides a framework for identifying internal strengths and weakness and the external opportunities and threats it faces. failing The major weaknesses of Lords Ice-cream Parlour comprises of Incurrence of high-level expenses in the Research and Development (R) sector. High operating and maintenance expenses resulting from the large size of the business. Excessive reliance on foreign suppliers. Entering new related businesses This is also visible through its new items as Ammo milkshake. Widening the product range. Seeking faster market growth. Exploiting new market segments. Changes in demographi c factors.Change in consumer taste This might result if there is an increased awareness among the health conscious people, which w gatherethorn cause a decline in the procure of ice cream. Increase in foreign competition. Rise in new or substitute products. Changes in Political factors. 10. THE *Target *AUDIENCE (*Marketing*) The kind of market Lords Ice-cream Parlour operates in is characterized by the volatility of its general environment, the dynamism of its competitors and most of all the varying and the inconsistency of needs and purchase preferences of the consumers market, which are important consideration guiding their day to day operations. holding this in mind, Lords Ice-cream Parlour has developed sound marketing programs, which starts with identifying the differences that exists within a market, deciding which segments will be selected and developing specific marketing mixes so as to influence intended customers, and overall perception of the brand, Lords Ice-cream Pa rlour . Market breakdown Lords Ice-cream Parlour has designed various marketing mixes according to the dissimilar products needs and preferences with regard to the consumer market and has clustered people with similar needs into selected segments. Domestic Market SegmentationFor a consumer-oriented company like Lords Ice-cream Parlour, whose main operations rallies around the domestic market, a lions share of its resources is devoted towards serving the domestic consumer segments. After thorough analysis, behaviour and demographic segments have been identified as their prime areas of focus. Demographic Segmentation From the viewpoint of an ice cream manufacturing company, demographic segmentation holds importance in terms of its close relation to customer product needs and purchase behaviour and the ready measurability of variables such as consumers age and life cycle and their income.Age This is the most important component of demographic segmentation. oer the years, ice creams were considered to as being more of a recreational product, but standing on this new century, the effect of globalization has placed ice cream as more of a regularity in our lives. Lords Ice-cream Parlour has divided its markets in segments according to different age groups such as kids, teenagers, and the family range. Different ages of people are influenced by different flavours of ice cream, different presentations of packaging and different product attributes.Kids incline more towards ice creams, which contains shake up and colourful packaging, taste of sweet strawberry, fresh mango, pure vanilla, ripples, hazzle nut pelage and curt flakes. Teenagers prefer low calorie ice cream, more dauntless and wider range of tastes. Families are influenced more by ice creams that fulfil the general appeal and taste of all the members of the family. Income Income is the key determinant of consumers buying behaviour. It is the most popular demographic variable for market segmentation.Fo r a larger part of the population to buy the product, it is very important to segment the market in different income groups. This is given utmost importance in London where there is wide variation in the average levels of income. Lords Ice-cream Parlour has divided the market into three income groups low-income group, mid-income group and high-income groups. Market Targeting After market segmentation, Lords Ice-cream Parlour goes for designing, implementing and maintaining marketing mixes intended to meet the needs of the target groups, resulting in mutually pleasing exchanges.Domestic Market Targeting The two general strategies Lords Ice-cream Parlour uses for selecting target markets are differentiated and undifferentiated marketing. DIFFERENTIATED UNDIFFERENTIATED Undifferentiated target strategies approach the segment as one big market with no individual segments and thus require a single marketing mix. Chocobar and the newly introduced Kulfi are the prime examples related to successful targeting of the mass market. Chocobar priced at ? 3. 4/-, mini chocobar priced at ? 2. and Kulfi priced at ? 1. 6 with sober colour packet boats enables Lords Ice-cream Parlour to go for mass marketing. Market Positioning Positioning refers to developing a specific marketing mix to influence potential customers overall perception of a brand, product line or organization. The marketing manager of Lords Ice-cream Parlour assumes a realistic view of how customers think about their offerings in the market. At the same time, the manger also knows how he wants target customers to think about its marketing mix.According to him positioning issues are especially important when a competitor in a market appearsto be very similar, with the ice cream industry being a prime example. Lords Ice-cream Parlour follows several positioning strategies. Products Attributes Macho Exquisite Chocobar Energetic Shell & Core Metange Lolly impatient(predicate) Clown Animating Mega Energetic Coffee Refreshing Ripple praiseworthy Pralin Puissance Cornelli Dual Usage Occasion Usually consumers perceive ice cream as an integral part of summer. Lords Ice-cream Parlour aims at positioning ice creams to as being a winter item along with its regular summer item image. Lords Ice-cream Parlour is trying to position its ice cream as a item for all seasons in other part of the country like that is perceived in London, through different promotional activities. *11. THE* Marketing Mix There are many possible ways to satisfy the needs of target customers. A product can have many different features and quality levels. Service levels can be adjusted.The package can be of various sizes, colors or materials. The brand severalise and warranty can be changed. Various advertising media television, newspapers, magazines, radio, and billboard can be used to attract the potential customers. A companys own sales force or other sales specialist can be used. Different prices can be char ged. Price discounts may be given and so on. With so many possible variables, is there any way to help organize all these decisions and simplify the weft marketing mix? The answer is The customer is surrounded by the four Ps.There are additional three Ps newly invented by the marketer. An important point to note is the customer should be the target of all marketing efforts but it is not the part of the marketing mix. Hence, Lords ice-cream parlour follows this concept and places its customers in the centre. Product for Lords ice-cream parlour the Product decisions outflank around developing the right product for the target market and this includes not only the physical unit but also features, brand name, company image, value and many other factors.Apart from maintaining a superior quality through its imported ingredients and bringing regular proceeds consultants from Belgium, Denmark and Holland, the units separate R department regularly can analyzes new products through its mar ket look into to answer questions as At what price consumers would like to buy the product. Flavours and marrow squash to be used. Consumers feedback. Analyze other markets. Lords ice-cream parlours Product line includes distinctive ingredients, as some are vanilla flavour with chocolate hazelnut or milk coating, some may have crispy flakes, others include cashew nut.On the other hand, to provide a taste of refreshment there are flavours including coffee, strawberry, mango, with almonds and ripples. Each of these delicacies has positioned itself as a unique brand in consumers mind. These eclectic tastes have been able to exceed consumers expectations resulting to delightful consumers and thus to the creation of a powerful company image. Apart from that Lords ice-cream parlour also can operates through some trolleys for extending its relate to various consumers at different locations as schools, alleys, streets, parks e. . c. Consumers Availability of cross cards through purchas e of certain flavoured ice creams enables consumers to obtain different types of gifts such as iPod, mp3 player can be achieved by them. to a fault last year (2008) every purchase of Macho had a equip Kat free. *PEOPLE* The management of the ice-cream parlour is very particular about the selection of the people. They are hiring only the motivated, energetic and passionate people. The parlour has on job training and skill development continuous activity by which employee can be skilled.But from next year every afterward three months they are going to arrange a training and motive program for the improvement of their business. *12. MARKETING* Growth Strategies Lords ice-cream parlour, like any other company, in order to maintain a stable growth rate, focuses on reviewing the existing operations, the evaluations and the creation of the new products by not only manufacturing the highest quality products but also delivering the product by maintaining this high quality. In seeking grow th, Lords ice-cream parlour considers both its market and its products.It then decides whether to continue what it is doing only do it better or establish new venture. The product/market growth matrix depicts this option for Lords ice-cream parlour. The matrix is divided into four possible combinations of old and new products with old and new markets. drawline drawline drawline drawline drawline drawline drawline drawline drawframe MARKET PENENTRATION Here, Lords ice-cream parlour tries to sell more of its present products to its present markets by the help of supporting tactics, which might include spending on price, promotion and packaging.For example, Lords ice-cream parlour regularly alters its ice cream packaging, and provides occasion oriented price cut. MARKET DEVELOPMENT Lords ice-cream parlours market development strategy is evident by its entry to an entirely new area Marble Arch. In future, Lords ice-cream parlour plans to expand in other parts of London and are underg oing business consultancy of possible expansions in Netherlands. return DEVELOPMENT Nothing is more important to a companys long-term survival and growth then the successful introduction of new products.By flipping through Lords ice-cream parloursbook of achievements, it is evident that one of prime reasons for success has been due to constant introduction of new products. The exquisite Macho, energetic Mega, which hit the markets around two years back, were and are a real feast for ice cream lovers. The very recently introduced Kulfi has once again placed Lords ice-cream parlour to as being a peoples brand providing a world of great taste, and which deciphers Lords ice-cream parlours drive to maintain satisfaction of all segments of the market. Lords ice-cream parlour has, for the time being confined itself only to the ice cream business. Any diversification related businesses would be future-wise. The Marketing Budget drawframe Recommendations In spite of Lords ice-cream parlours remarkable success certain loopholes in the marketing aspects has been detected. After my research I came up with some possible steps and solutions that we would like to state below. Competitors are an important component of the task environment. Lords ice-cream parlour should pay heed to its potential competitors rather than treating them as mere counterparts. Lords ice-cream parlour should involve in backward vertical integration to lower the costs of value creation and lessen its reliance on foreign suppliers. For instance, incidence such as credit crunch may hinder the flow of supplies in the production process when there is excessive dependence on foreign inputs. To call down the maturity level, Lords ice-cream parlour should undertake the task of sponsoring more social events such as concerts, cricket, football and other such tournaments to retain its popularity in the jr. market segments.Emphasize should be given on TV commercials, to let a greater share of the market. A p roper customer help line should be developed to mitigate the further needs of the customer. decision From an extensive marketing analysis of the ideas and marketing concepts at work in the operation of Lords ice-cream parlour, it is possible to obtain an insight to the essential marketing practices adopted by the company.Adherence to proper marketing strategies in terms of company objectives, paying heed to target consumers and potential and existing competitors, close relationship and liaison with distributors and suppliers ensure substantial market capitalization as indicated by Lords ice-cream parlours market share of 63% in the ice cream industry. Evidently by virtue of its unique product attributes, high quality, exquisite and mouth- watering varieties of ice creams, attractive and distinct packaging, Lords ice-cream parlour has been able to ensure marketing excellence and enhance its competitiveness.Todays fiercely competitive environment compels Lords ice-cream parlour to pu rsue the right set of pricing strategies, policies for effective segmentation and targeting, market oriented structures of distribution and retailing, which lies at the heart of the companys success. Its new sales and distribution flow enables the company to achieve its desired goals. In its quest to create significant customer relationship and optimizing the performance of the entire system, Lords ice-cream parlour has resorted to a system of timely distribution.With the combination of effective promotional campaign and advertisement in various media, it is able to retain valuable customers and inform them about manifold brands they are offering at present. Appendix This questionnaire is conducted only for educational purposes (For Customers Only) pee Profession.. What is your age group? How long you are coming to this ice-cream precarious? Why have you chosen this place? Do you think Lords ice-cream parlourdone a better job for their customers? What do you think about the pro duct image of Lords ice-cream parlour?If you are satisfied then which factor- Do you think that Lords ice-cream parlouris one of the top ice-cream parlous? Manufacturing and Warehousing efficiency Manufacturing Capacity 530 liters per day. Warehousing Capacity store No 3 Nos Warehouse Store Capacity Factory 1,000 liters Technology and its usage of modern equipment shape Supplier Mark Italy Tetra pack (Hoyal), Denmark Sabore, Denmark Hass, Austria Machine Model Free mark 1100, Italy FM 3000, FM 6000, Italy SL 600, Denmark Cone Baking Hass, Austria Chocolate Making Macentyre, UK.