Tom's Palette

Topics: Ice cream, Marketing, Butterfat Pages: 27 (7206 words) Published: February 3, 2013
Analysis  of  Tom’s  Palette  Branding  &  Marketing  Strategy

MKTG 101 - Marketing
Academic Year 2011 - 2012 Term 1

Tom’s  Palette

Marketing Final Report
Prepared By: Cindy Suselo Cintya Setiani Hutama Karen Leticia Mario Renaldo Maria Angelica Siborutorop

MKTG 101 – Marketing Final Report


Analysis  of  Tom’s  Palette  Branding  &  Marketing  Strategy Introduction Tom’s   Palette   is   a   homemade   ice   cream   shop   located   at   Shaw   Leisure   Gallery.   Although   it   has   been   operating   since   September   2005,   Tom’s   Palette   does   not   have   any   branches.   However,   it gains a considerable popularity among people around the area it operates. Tom’s   Palette   has   a   unique   business   model.   According   to   our   interview   with   the   owner,   Mr.   Chronos   Chan,   the   store   sells   more  than   just   ice   cream;   it   sells   experience.   In   Tom’s   Palette, ice cream lovers can choose their own combination of flavors as well as try some adventurous, exotic flavors such as Wasabi Lime, Black Swirl (black glutinous rice in coconut) and even Caramelized Onion that would not be found in other ice cream shops. In addition, Mr. Chronos also underlines that   the   store’s   vision   is   to   instill   passion   for   ice   cream,   showing   customers   how   ice   creams   are   supposed to taste rather than just merely selling ice creams.

Market & Consumer Analysis Over the years, there is an increasing demand for ice cream in Singapore. According to Euromonitor, ice cream market in Singapore is expected to grow at 2% constant value CAGR from 2011   to   2015.   This   indicates   Singapore’s   high   potential   to   be   a   profitable   market for ice cream. Such   level   of   demand   is   mainly   caused   by   Singapore’s   hot   and   humid   weather,   whereby   consumers in Singapore often purchase ice cream for its cooling effect. The increasing affluence and disposable income also lead to the increase in overall consumption of ice creams as nonprimary consumable goods. Moreover, based on research and relevant past survey, there are two notable trends in Singapore ice cream market. Firstly, there is an increase in the demand for premium ice creams with innovative flavors, even though traditional, single-flavored ice creams stay preferred by some people. Secondly, there are increasing concerns on healthier life style. This is backed by a past survey results conducted by Euromonitor, showing that 60% of Singaporeans are concerned about consuming healthier food. Consequently, increasing number of people prefer healthier choice of ice creams with lighter taste and lower fat. Competitors Review The growth of local homemade ice-cream outlets in Singapore creates a direct competition for Tom’s  Palette  in  the  ice  cream  market. The key competitors are: U.d.d.e.r.s Due   to   its   unique   name   which   means   “cow   tits”   and   its   logo   which   depicts   its   meaning,   Udders   establishes a strong brand name and recognition among the public. Udders has a main store located in Novena and three other branches located in East Coast, JurongKechil, and Bukit Batok. Udders   is   famous   due   to   its   unique   liqueur   flavors   such   as   Rum   Raisin   and   Bailey’s   &   Bourbon.   Additionally, Udders adopts the café style, where people, especially the youngsters, can enjoy

MKTG 101 – Marketing Final Report


Analysis  of  Tom’s  Palette  Branding  &  Marketing  Strategy their time there. It differentiates its pricing based on the flavors. Price for classic flavors is $3.20, premium flavors is $3.90, connoisseur flavors is $5.30 per single scoop cup. Island Creamery Island Creamery has two outlets  located  in  Bukit  Timah  and  Great  World  City.  Island  Creamery’s   unique local flavours such as TehTarik, PulutHitam and Pineapple Tarts have won the hearts of ice cream lovers in Singapore....
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