Company: Krispy Kreme Doughnuts, Inc.
Products: Doughnuts, coffee beverages.
Table of contents
1. Executive summary
2. Situation analysis
1. Background of Krispy Kreme and products
2. Product offering
3. Market summary
1. Target market
2. Market demographics
3. Market needs
4. Market trends
5. Market growth
5. SWOT analysis
6. Critical issues
3. Marketing strategy
2. Marketing objectives
3. Financial objectives
4. Target marketing
6. Marketing mix
4. Financials, budgets and forecasts
1. Sale forecasts
2. Expense forecasts
5. Controls, implementation milestones
2. Implementation milestones
1. Executive summary
In this strategic marketing plan, the business plan of Krispy Kreme to gain the sale goals is outlined in terms of the strategies, tactics and programs.
Over 20 different types of specialty doughnuts are produced and sold in stores in possession of Krispy Kreme Doughnuts. Since its establishment in 1937, Krispy Kreme has expanding its retailing business and became a leading specialty retailer by producing over 1.8 billion doughnuts annually. Krispy Kreme started providing gourmet coffee products with the acquisition of Digital Java in 2002. The ability of producing their own line of coffee has put Krispy Kreme in a competitive position with many food and beverage companies. Recent years have witnessed an extension of Krispy Kreme market in both the USA and overseas. Their marketing strategy mostly targets at loyal customer and uses “word of mouth”. Their products aim to reach everyone in everywhere; hence, Krispy Kreme has made its products universal and globally branded. Krispy Kreme success did not cost the company expenses in brand building and product awareness. Along with the domestic and international growth of Krispy Kreme, their original stores will be a blueprint for all other markets in the near future.
This report is divided into four key parts in terms of situation analysis, marketing strategy, financials and controls. The first part of the report, which is situation analysis, is the overview about current situation of Krispy Kreme. In this section, information on the company as well as their product offering is cited. Moreover, the report highlights some market characteristics associated with Krispy Kreme’s target market, market demographics, market needs, market trends and market growth. Additionally, some of Krispy Kreme’s main competitors, such as Dunkin’ Donut and Starbucks, are explained regarding to their positions in the market coupled with their value to the customers. Finally, in order to gain market share, Krispy Kreme needs to carefully analyse their business strategy by addressing several questions in critical issue part.
Following is the marketing strategy, which assists Krispy Kreme to concentrate its scarce resources on the greatest opportunities to maximize sales and achieve a sustainable competitive advantage. Marketing strategy includes Krispy Kreme’s missions, their marketing and financial objectives, target marketing, positioning, marketing mix (7Ps) and marketing research.
Another aspect, which is mentioned in this report, is financial part. This part is the expectation on sales and expenses for Krispy Kreme between 2010 and 2015. Overall, there are upward trends in both Krispy Kreme’s sales and expenses. This is a positive sign for Krispy Kreme’s business in today high competitive environment.
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