Red Mango Marketing Strategy
RED MANGO
Current Marketing Strategy
As a private company, Red Mango 's current strategy can only be ascertained by analyzing its corporate communications, its past and current business moves, and media reports.
The company appears poised to become the next "hot franchise." There has been open speculation about an eventual initial public offering of stock, with The New York Times describing a stock offering as "seemingly inevitable."
Red Mango continues to expand in greater Los Angeles and New York City. Not incidentally, these are the two largest media markets in the United States. Los Angeles and New York are populated with many upscale, media-centric trendsetters who relish being on the cutting edge of retail, cultural and fashion concepts and who tend to generate publicity. Both markets also have high concentrations of celebrities whose patronage can drive brand awareness.
Clearly, Red Mango has intentionally and successfully drummed up a lot of free publicity and leveraged it into increased sales. According to Fast Company, Red Mango plans to open stores in 2008 in two other media-friendly and promotion-driven markets: London and Las Vegas.
Given the hype surrounding Red Mango and the inevitable calls for the company to capitalize on the fast-moving frozen yogurt trend, Red Mango has been fairly cautious in expanding. The company reportedly rejected over 3,000 potential franchisees and accepted only 12. Some speculate the company may try to become the "Starbucks of soft-serve," ignoring short-term considerations and using the venture capital and retail acumen of Howard Schultz and Dan Levitan to conquer important urban markets step-by-step and build long-term brand value just as Starbucks has done over the last 25 years.
Global Competitors
According to market research firm Packaged Facts, ice cream sales accounted for about 57 percent of frozen dessert sales in the United States in 2007, down .3 percent from 2006. During the same period,
Current Marketing Strategy
As a private company, Red Mango 's current strategy can only be ascertained by analyzing its corporate communications, its past and current business moves, and media reports.
The company appears poised to become the next "hot franchise." There has been open speculation about an eventual initial public offering of stock, with The New York Times describing a stock offering as "seemingly inevitable."
Red Mango continues to expand in greater Los Angeles and New York City. Not incidentally, these are the two largest media markets in the United States. Los Angeles and New York are populated with many upscale, media-centric trendsetters who relish being on the cutting edge of retail, cultural and fashion concepts and who tend to generate publicity. Both markets also have high concentrations of celebrities whose patronage can drive brand awareness.
Clearly, Red Mango has intentionally and successfully drummed up a lot of free publicity and leveraged it into increased sales. According to Fast Company, Red Mango plans to open stores in 2008 in two other media-friendly and promotion-driven markets: London and Las Vegas.
Given the hype surrounding Red Mango and the inevitable calls for the company to capitalize on the fast-moving frozen yogurt trend, Red Mango has been fairly cautious in expanding. The company reportedly rejected over 3,000 potential franchisees and accepted only 12. Some speculate the company may try to become the "Starbucks of soft-serve," ignoring short-term considerations and using the venture capital and retail acumen of Howard Schultz and Dan Levitan to conquer important urban markets step-by-step and build long-term brand value just as Starbucks has done over the last 25 years.
Global Competitors
According to market research firm Packaged Facts, ice cream sales accounted for about 57 percent of frozen dessert sales in the United States in 2007, down .3 percent from 2006. During the same period,