Tom's Palette
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
0|Page
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
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
0|Page
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