Table of Contents 1.0 Introduction 1 2.0 Target Market 2 2.1 Geographical Segmentation 2 2.2 Demographic Segmentation 3 2.3 Psychographic Segmentation 3 2.4 Behavioural Segmentation 3 3.0 Values demanded by Target Market 4 4.0 Positioning 5 5.0 Differentiation6 6.0 Marketing Mix 7 6.1 Product 7 6.2 Price 8 6.3 Promotion 9 6.4 Place 10 7.0 Recommended Marketing Strategies 11 References 12 Appendices 16 i
1.0 Introduction Marketing is an integral part of the modern world, it is a set of activity used to accomplish organizational goals by anticipating customer needs and satisfying them by offering goods and services by creating superior customer value. Marketing strategies are fluid and is changed according to the goals and differs for companies as companies have different strengths, weaknesses, and goals. Häagen-Dazs is an American ice cream company founded in 1961 by Reuben and Rose Mattus in New York, headquartered in Minneapolis, Minnesota. It is a subsidiary of the companies Nestle and General Mills. The company has now retail stores in more than 50 countries including Malaysia. According to Häagen-Dazs (n.d.-a) Mattus wanted to change the market of ice cream and eventually introduced bars, frozen yogurt, and sorbet. By 1998, Häagen-Dazs started making regional favourite flavours as the concept of localization was realized. The focus of this paper is on the brand level as it concentrates on analysing the differences in the marketing strategy compared to its competitors like Baskin Robbins in the ice cream market front. As stated by Zhu (2016), Häagen-Dazs is in the second place of the global ice cream market with consumers from 50 countries buying $2.09 billion of bars and cartons in the year 2015. Malaysia has a large number of young population with rising disposable incomes which drive the growth of ice cream market. In 2014, Häagen-Dazs had a 3.9% share in bulk ice cream purchase and 1.8% in the impulsive single serve category in Malaysia (Canadean, 2015). 1
2.0 Target Market Bases Segment 1 Segment 2 Segment 3 Geographic Urban Urban Urban Demographic School/college students 15-19 years old Pocket money/Low income Single Working adults 20-45 years old High income In a relationship (including married) Retirees 55-70 years old Pensions Married Psychographic Conservative lifestyle Fashion followers Luxurious lifestyle Achievers Simple lifestyle Middle-class traditionalists Behavioural Brand loyalty: Low and versatile Less knowledge about the brand Satisfaction of temporary cravings Brand loyalty: High with reasonable flexibility Knowledgeable about the brand Satisfaction and fulfilment from consumption Brand loyalty: High and rigid Knowledgeable about the brand Satisfaction and fulfilment from consumption Häagen-Dazs holds an image of sophistication and premium image which is targeted to working adults who have high income. The consumers tend to be more high-class,
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- Spring '14
- Pricing, Brand, ice cream, Häagen-Dazs