Marketing Portfolio Assignment Part 2 (Kawartha Dairy) (1)

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1 Marketing Portfolio Assignment Part 2 Kawartha Dairy 23F --Marketing (SEC. 001) Iain Chalmers November 27, 2023 Marketing Portfolio Assignment Part 1 Kawartha Dairy
2 Target Market The Primary for our new ice cream includes individuals who have specific dietary preferences or restrictions since our new product will focus more on healthier and sugar-free ice cream. The following are our potential markets for the new launch product: Health-Conscious Consumers: Individuals actively manage their sugar intake for health reasons, including those with diabetes or on low-sugar diets. Vegans and Plant-Based Dieters: Vegans and individuals following plant-based diets seek dairy-free alternatives. Weight Watchers and Fitness Enthusiasts: Individuals on weight management programs or fitness journeys seeking lower-calorie options. Families are a demographic that significantly influences ice cream’s purchasing patterns. According to insights, a substantial 84% of these customers exhibit a preference for acquiring ice cream during the evening hours. Notably, their favored destination for this delightful treat is the grocery store, where they can select from a diverse range of options. The majority of these consumers opt to enjoy their ice cream in the comfort of their homes, creating a trend where the grocery store becomes a key player in fulfilling their ice cream preferences. This behavioral
3 understanding forms a pivotal foundation for tailoring marketing strategies and product offerings to align with the preferences of our primary market. The customer’s needs and wants, and a description based on variables such as demographics, psychographics, lifestyle. Customer Profile: Ice Cream Enthusiasts Demographics: Age: Broad appeal across age groups; from children to adults. Gender: No specific gender dominance; enjoyed by all. Location: Urban centers and suburban areas with a strong focus on wellness and healthy lifestyles. Cities like Vancouver, Toronto, and Calgary are known for their health- conscious communities. Income: Varied income groups; ice cream is accessible to a wide economic spectrum. Occupation: No specific occupational bias; enjoyed by individuals from various professional backgrounds. Psychographics: Lifestyle: Health-conscious consumers, Vegans and Plant-Based Dieters, Weight Watchers, and Fitness Enthusiasts customers Values: Appreciation for indulgence, convenience, and sensory enjoyment. Personality Traits : Playful, pleasure-seeking, and open to diverse taste experiences. Preferences and Needs: Cone Preferences: Waffle cones are the preferred choice for a significant portion (32%), showcasing a preference for a textured and flavorful experience.
4 Serving Style: Despite cone popularity, a notable 37% prefer the simplicity of enjoying ice cream out of a bowl, reflecting diverse consumption habits. Fruit Inclusions: Strawberries are the favored fruit accompaniment, preferred by 48% of consumers, followed closely by bananas at 36%. Shopping Behavior: Sales Channels: Beyond supermarkets and hypermarkets, convenience stores play a significant role in ice cream sales, emphasizing the importance of accessibility and impulse purchases. Local Trends: Widespread throughout Canada especially Ontario, British Columbia, and Alberta. Positioning Map Develop a market Positioning Map using 2 dimensions that you think are important to your target market and clearly differentiate your brand vs at least 4 other competitors. Remember to name your Axis labels. Create a Positioning Statement and Tagline for your product. High Quality High Price
5 Positioning Statement To families and individuals seeking happiness and diverse frozen delights, Kawartha Ice Cream is a premium dessert experience that combines rich flavors, innovative textures, and quality ingredients. Tagline: Joy Within a Cup. Low Price Low Quality
6 Product Lifecycle P o d uc t D e v e l o p m e n t In t r o d u c t io n G r o w t h Ma t u r i t y D e c lin e -4 -2 0 2 4 6 8 10 Kawartha Ice Cream´s life cycle Sales Profits time sales & profits What Stage is your brand in? Kawartha Ice Cream is in the stage of growing. Rationalize in three points why you believe it is in this stage. Market Expansion: Kawartha Ice Cream is actively expanding its market presence by reaching new regions or introducing new flavors and product lines, which suggests that the company is in a growing stage. The company is investing in marketing strategies, distribution channels, and product innovation to capture a larger share of the market (Amstrong et al., 2019, pp. 273-277). Increasing Sales and Revenue: A growing stage is often characterized by a significant increase in sales and revenue. By the time, Kawartha Ice Cream is experiencing a notable uptick in both,
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