Ice Cream Study
Carvel must go after the “little Emperor” market segment and drive its Marketing strategy
There is scope to create a new demand driven by the kids and disrupting the existing confectionary market segment for ice creams and cake ice creams in specific.
First we shall eliminate the other 2 segments and then derive the fact as to why the segment of our choice is a clear winner. The below mentioned 2 segments have several benefits, such as existing knowledge, higher purchasing power, open mind for novel items and experiences but all of these would be diminished keeping the long term view in mind.
Middle & Upper income working professionals: (drawbacks only) * Conservatizm , preventing risky purchases arising from the cultural opinion of cold being bad for health and with growing health awareness, thus thinking twice about their purchase. * Upper limit to market/ product development and lesser scope for innovation for expanding the market potential. * It is difficult to change existing mind-sets that are culturally driven.
Expat Market: (drawbacks)
Limited in population (100,000)
No scope for further increasing the market or being able to capture other market segments because of focused marketing strategies for this group (ads in English which other segments might not understand)
Focus Marketing resources on positioning in the “The Little Emperor Market”
Behavioral:
Kids are the center of parent’s universe; with growing awareness, accessibility and transformation in the economic & cultural scenario globally (due to globalization), kids these days have a lot at their disposal in terms of resources such as knowledge, money, influential power, etc.
They are treated with special treatment. In China specifically, due to the “one child policy” we see even further preferential treatment and attention given to kids by their family members. These kids are continuously spoiled by parents as well grand parents and are used to
There is scope to create a new demand driven by the kids and disrupting the existing confectionary market segment for ice creams and cake ice creams in specific.
First we shall eliminate the other 2 segments and then derive the fact as to why the segment of our choice is a clear winner. The below mentioned 2 segments have several benefits, such as existing knowledge, higher purchasing power, open mind for novel items and experiences but all of these would be diminished keeping the long term view in mind.
Middle & Upper income working professionals: (drawbacks only) * Conservatizm , preventing risky purchases arising from the cultural opinion of cold being bad for health and with growing health awareness, thus thinking twice about their purchase. * Upper limit to market/ product development and lesser scope for innovation for expanding the market potential. * It is difficult to change existing mind-sets that are culturally driven.
Expat Market: (drawbacks)
Limited in population (100,000)
No scope for further increasing the market or being able to capture other market segments because of focused marketing strategies for this group (ads in English which other segments might not understand)
Focus Marketing resources on positioning in the “The Little Emperor Market”
Behavioral:
Kids are the center of parent’s universe; with growing awareness, accessibility and transformation in the economic & cultural scenario globally (due to globalization), kids these days have a lot at their disposal in terms of resources such as knowledge, money, influential power, etc.
They are treated with special treatment. In China specifically, due to the “one child policy” we see even further preferential treatment and attention given to kids by their family members. These kids are continuously spoiled by parents as well grand parents and are used to