Marketing Plan
Chapter 1: Current Marketing Situation Analysis
I. Industry Study
Composition/ Size/ Market Segments
Ice cream products are targeted to people who love sweets, people who want to relieve stress, people who want to refresh themselves from the hot weather and people who would eat it when available. There is no specific age bracket targeted by the product. Anyone from kids, teens, adults, and elders are possible patrons of ice cream. Ice cream products are meant for middle and lower-income consumers and are coined to be an affordable luxury among all income segments. The most concerted area of ice cream consumption is in the Greater Manila with 60% of total volume being purchased. It is also the smallest sector among all dairy products, having 0.9% of the market segment. (Philstar, 2004)
Usership Patterns/ Significant Buying Habits
In the Philippines, ice cream is one of the most favorite desserts. It may be bought as everyday refreshment or as a treat during special occasions. Ice cream is a happy product which chooses no particular season or mood. Ice cream can be tied up to a person’s income. Greater consumption means higher pay, especially to the middle-income consumers. Although some are brand-loyal, most consumers examine which available flavors are okay and which are not. People can easily switch to another flavor or brand, depending on their cravings. (Euromonitor, 2014)
Growth/ Decline Patterns
The consumption of ice cream rises as the country’s economy continues to grow. It is said to have a 4% increase in sales during 2013. It continues to grow within a couple of years due to the aggressive promotions of respective ice cream manufacturers which causes greater consumer demand. Among all innovations, Frozen Yoghurt is one of the fastest growing categories of ice cream. (Euromonitor, 2014)
Other Market Characteristics
According to statistics, 80% of the Filipinos buy ice cream on impulse. They purchase the product without any intent to buy at first;
I. Industry Study
Composition/ Size/ Market Segments
Ice cream products are targeted to people who love sweets, people who want to relieve stress, people who want to refresh themselves from the hot weather and people who would eat it when available. There is no specific age bracket targeted by the product. Anyone from kids, teens, adults, and elders are possible patrons of ice cream. Ice cream products are meant for middle and lower-income consumers and are coined to be an affordable luxury among all income segments. The most concerted area of ice cream consumption is in the Greater Manila with 60% of total volume being purchased. It is also the smallest sector among all dairy products, having 0.9% of the market segment. (Philstar, 2004)
Usership Patterns/ Significant Buying Habits
In the Philippines, ice cream is one of the most favorite desserts. It may be bought as everyday refreshment or as a treat during special occasions. Ice cream is a happy product which chooses no particular season or mood. Ice cream can be tied up to a person’s income. Greater consumption means higher pay, especially to the middle-income consumers. Although some are brand-loyal, most consumers examine which available flavors are okay and which are not. People can easily switch to another flavor or brand, depending on their cravings. (Euromonitor, 2014)
Growth/ Decline Patterns
The consumption of ice cream rises as the country’s economy continues to grow. It is said to have a 4% increase in sales during 2013. It continues to grow within a couple of years due to the aggressive promotions of respective ice cream manufacturers which causes greater consumer demand. Among all innovations, Frozen Yoghurt is one of the fastest growing categories of ice cream. (Euromonitor, 2014)
Other Market Characteristics
According to statistics, 80% of the Filipinos buy ice cream on impulse. They purchase the product without any intent to buy at first;