Krispy Kreme : The Mission Statement

3-21. Krispy Kreme started as a family business. How has that influenced the operation of the company?

The marketing mix is the general phrase used to describe the different kinds of choices organisations have to make in the whole process of bringing a product or service to the market...

Krispy Kreme is a branded specialty retailer and manufacturer of premium quality doughnuts. Its principal business is to own and franchise Krispy Kreme doughnut stores in the U.S. and internationally. The main product is the Hot Original Glazed, a one-of-a-kind doughnut with an established brand. Each outlet also sells over 20 other varieties of doughnuts and coffee products. Product quality and consistency has provided the Company with a very loyal customer base.3

Marketing mix -The marketing mix is commonly used marketing term. Its elements are basic, strategic components of a marketing plan. Which is mentioned as the four p’s, which include Price, place, product and promotion. More recently 3 more P’S have been added to the marketing mix which are people, process and physical evidence this is known as the extended marketing mix.

Kellogg’s mission and vision clearly states that their intentions are “To enrich and delight the world through foods and brands that matter.” Their purpose is “Nourishing families so they can flourish and thrive (Our Vision & Purpose, 2015).” Kellogg’s mission and vision was

Marketing mix is the set of controllable tactical marketing tools which that the firm blends to produce the response it wants in the target market.

Krispy Kreme has experienced dramatic growth over the past 5 years based on their income statement. Every line on the income statement has grown rather impressively. Revenues have grown from $220M to $666M and net income has grown from $6M to $57M. Based on the income statement, Krispy Kreme is doing very well.

The marketing mix is a combination of 4 P’s (product, price, place and promotion) that should be used in conjunction with each other to ensure a competitive edge over other companies. ‘The marketing mix is designed to produce mutually satisfying exchanges with a target market’.

The mission statement is a written document that an organization declares its core purpose. The mission statements defines the essence of the organizations needs and their core purpose of their existence. It describes the role that they play in the community and portrays the club’s image, charisma, and individuality. If the mission statement is written correctly it can provide an explanation to internal and external individuals on what the organization stands for. Some of the components that are key to the mission statement are members, product and service, market, technology and philosophy are just a few that should be in the mission statement. Without and effective mission statement to inspire your employees and members on why you exist it won’t mean anything to them. Here is an example of a mission statement from Kohl’s

A company's vision is a "general statement of its intended direction that evokes emotional feelings in organization members." (Dessler, 2003). The mission statement determines the type of business it will be by setting the purpose for the company, and

A mission statement is a “formal summary of the aims and values of a company, organization or individual.” (Oxford) Mission statements are important in business because it can be used to determine a company's short and long-term goals. Intelligent business owners use mission statements to remind its employees why the company exists and how the company will be or continue to be successful. Dunkin Donuts’ mission and vision statement is simple. It is “to deliver high quality food and beverages quickly, affordably and conveniently in a welcoming environment.” Dunkin Donuts being a fast food chain, has been relied on by its customers to provide coffee and breakfast at a fast pace. This is how each individual Dunkin Donuts gains and keeps customers. When the staff are all on the same page, the business runs smoothly, and customers remain happy, resulting in repeat customers. Word travels fast and so does the coffee, with that in mind. Keeping customers happy and meeting their needs will keep this business striving.

As you know Thailand has many brand of donut and last year have new brand come to Thailand it is Krispy Kreme Doughnut. First time that they promote everyone interesting and exciting about that. Now it not interesting like beginning period. So, our group would like to study about customer preference and want to know about customer satisfaction with price, place, taste and location of Krispy Kreme Doughnut.

A shift in consumer demand to want healthier fast-food options has hit the industry hard. Dunkin’ Donuts and Starbucks have combated this shift by offering healthier menu items, something Krispy Kreme has failed to do. Dunkin’ Donuts offers healthy breakfast sandwiches and

Marketing mix is nothing but a critical mix of right amount of efforts and mechanism that is made up of the product that an organisation offers, market segmentation and the marketing strategy, selling the product at the right price and to the right customers through right people.

Marketing mix refers to the enterprise for their target market needs, control various marketing factors (product, price, place and promotion) to optimize the combination and comprehensive utilization, in order to accomplish better economic and social benefits (Chai, 2009, p.4). Place and product will be attached more importance in this section.