The paper "Dessert Dreams Marketing Plan" is a perfect example of a marketing case study. Marketing is an essential part of a business that needs to be effectively undertaken with the aims of improving business performance. Effective marketing strategies are tantamount to achieving most, if not all, business objectives. As such, it is important to always have clear and effective marketing strategies based on research and situation analysis of a business and the industry it operates in. Using Dessert Dreams situation analysis, this retrospect paper provides a market mix analysis and strategies for the venture that would ensure it optimizes its profits through increasing profitability. Objectives It is important to have SMART objectives in order to clearly have clear evaluation strategies upon which the marketing strategies implemented can be evaluated.
As such, for Dessert Dreams, the following marketing mix objectives are essential in achieving its overall business goals. Segmenting the market and identifying the target market using demographic and psychographic details in order to provide a guide for the marketing mix strategies To develop effective product positioning strategies for the desserts. To develop effective distribution strategies that would enhance easy access and market availability of the products. To develop competitive prices based on reliable and effective pricing policies. To develop effective promotional strategies with strategic messages that would contribute to attracting consumer traffic towards purchasing the products. Target Market According to the situation analysis, it was pointed out that the Australian Government has increased efforts of creating health awareness and consciousness amongst the youths (Australian Institute of Health, 2012).
As a result, there is a changing trend in the food industry, whereby the more health-conscious youths are inclining towards healthier dietary food options (Australian Taxation Office).
Additionally, ABS statistics reveal that 240,000 people of the total 382,000 people in Canberra are young people aged between 16-35 years (Australian Bureau of Statistics). These youths have a tendency of having complicated lifestyles that are characterized by a desire for fun as well as busy educational or professional schedules. As such, most of these youths are more likely to prefer quicker food service by passing through the nearest food stores to purchase available foods. As such, the target market for the business would be these youths based on the information in Table 1 below. Table 1: Identifying the target market Segmenting Factors Considerations Demographic details Age (16-35) Population size (240,000 people) Busy life due to education or employment (Australian Taxation Office) Psychographic details More preference for healthier foods Preference for fast foods Marketing Mix Strategies Marketing mix strategies control the marketing processes based on four main essential marketing elements, commonly dubbed as the 4Ps (Feng, Morgan & Rego, 2015).
These are product, price, promotion and place. This section discusses each of these individual aspects based on Dessert Dreams marketing objectives. Product Dessert Dreams intends to make healthier dessert alternatives as compared to the traditional style of using more sweeteners to improve dessert tastes.
The products, therefore, will not only be tasty but also healthier, hence offering more benefit to the consumers by preventing diseases and disorders such as obesity, cardiovascular diseases, diabetes among others. As such, Dessert Dreams will be establishing a unique competitive brand by offering tasty and healthy dessert alternatives. Offering the same product category with its potential competitors such as Cold Rock, Stripey Sundae and Max Brenner, the brand will directly compete with these competitors, only that it will thrive on the competitive advantage of offering healthier dessert alternatives.
Using healthier ingredients which are mostly organic samples and organic additives would be the main product differentiation strategy. Mainly, the business to business transactions will be in acquisition of the ingredients and products to be used in making the desserts, while the desserts will be business to consumer products. Due to high competition in the industry, it is important to have a well-strategized product adoption process that will mainly focus on the health value in order to move most customers from the awareness to adoption stage.
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