Mkt 500 - Company Introduction, Market Segmentation, and Product Positioning

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Company Introduction, Market Segmentation, and Product Positioning

Student: William David Wilson

Professor: Dr. Edward Sherbert

MKT 500 – Marketing Management

1/26/2013

In this assignment we will describe our fictitious company and provide its background. Then we will start building the marketing plan with a focus on segmenting and positioning our product and service. Our company is called ‘The Glazed Doughnut.’ It started off as a small doughnut shop located in Clemson, South Carolina. Over the course of a few years, the company has grown and expanded and now has stores located throughout South Carolina in Anderson, Greenville, Columbia, and Charleston. We have also now expanded to other states in the southeast area of the United States such as Georgia, Florida, and North Carolina. We offer a basic line up of simple (glazed) and fancy (glazed with sprinkles, chocolate glazed, chocolate with sprinkles, powdered, and powdered with sprinkles) doughnuts, with an assortment of coffee and other drinks available to the customers. The original store was established in 1999 at Clemson South Carolina.

Our mission statement for The Glazed Doughnut is to become the premier doughnut retailer by being in the right place, at the right time, with just the right doughnut. Our mission statement reflects our key successes of great location and great tasting doughnuts. We are the premier doughnut retailer by having excellent service and fantastic doughnuts, along with a fun and friendly atmosphere, at a competitive price. With the great success of the company thus far, we are now looking to expand further into other markets. Through marketing research we have found that there is a high growing demand for doughnut shops in international markets in the United Kingdom. If we can successfully expand our doughnut shops into international markets, then we can further increase our revenues while expanding our company image and brand. This will be a risky move, but with the proper execution it will reap great returns. We first started our business in Clemson SC, and it was considered a place for students to just come and hang out, get a donut and a coffee or other beverage and relax or study for a while. Through marketing research we have found that in the U.K. a lot of their coffee shops incorporate the same type of atmosphere. So by transitioning our similar atmosphere, along with our American style doughnuts and great tasting coffee, we are confident that our products and services will be successful in a new area. In this next part of the assignment we will discuss the overall marketing plan. First, we will discuss the potential audiences for a marketing plan and the needs of those potential audiences. The potential audiences of The Glazed Doughnut are male and female college students, and males and females with regular day jobs between the ages of 22-29. With doughnuts being our key product, our research shows that many older adults will not find a doughnut as appealing as a younger adult would, so we expect our main audience to be that of younger adults. One of our main products we sell along with our doughnuts is coffee, and in today’s society a lot of people buy coffee, especially in the morning to help them off to a great start to their day. The potential needs of the audience will be our coffee and doughnuts, and the friendly service and fun atmosphere that we provide. Next, we will identify the marketing segment for the product and provide a rationale for this segment.  One of the marketing segments for our product is the Socio-Economic segmentation. The segment is based in consumer markets because it concentrates on social classes particularly the business class people, and young adults (including college students). This is mainly marketing to those people who are working at the office, or college students who are studying and want to have a...
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