Krispy Kreme does not have one particular target market and are not categorized as one business type; they have various tactics to appeal to various markets. They also target school, local organizations and businesses. He primary market, those ranging from the ages 20-30 years old, are Krispy Kreme’s main focus. This is where the majority of their business comes from. These are your everyday commuters who desire a sweet treat, or coffee to help outlast a long day at work. Their purchases may be small or cheap, but business is usually consistent, as are sales. Krispy Kreme appeals to schools as a fundraising opportunity. Doughnuts are very inexpensive when purchased in bulk, and easy to sell. Krispy Kreme offers certificates, coffee, partnership cards, and doughnuts to schools to raise money. Gift certificates are less of a burden, and those selling them don’t have to deal with ordering and delivering doughnuts after you’ve made the sale. This makes things easier for both the customer and fundraiser. Offering fundraisers to schools increases awareness of Krispy Kreme, serves as sales promotion, whilst building a relationship with schools and the community. The money earned from these fundraisers are usually used to improve the school or purchase uniforms as shown on Krispy Kreme’s “Fundraising” page on their site. Local organizations and businesses purchase Krispy Kreme’s products for retailing.
Competitors
Competitors Competitors
Starbucks
McDonalds
The Business plan on Krispy Kreme Doughnuts Market Doughnut
Written Assignment Krispy Kreme Doughnuts, IncI. Brief History Vernon Rudolph is the brains behind the Krispy Kreme name. He bought a doughnut shop in 1933 and all the assets came along with the purchase, including a secret recipe and name, Krispy Kreme. Rudolph moved to Winston-Salem, North Carolina, where he opened his first Krispy Kreme shop. The business prospered and in the 1950! |s over ten ...
Nestles
Dunkin Donuts
Einstein Bagels
Panera bread
Starbucks
Bruegges Enterprise
Dunkin Donuts
Yum! Brand
Starbucks
International Dairy Queen
Starbucks target Audience-
Affluent customers
Well educated customers
White Collar Patterns
The age of the target market was between 25 and 44.
Eventually, the company decided to expand its target market to include young, less-educated and low-income consumers. A large portion of coffee drinkers is found in urban areas of the United States. It is because most of educated and working professionals live in the urban areas. It is because most of educated and working professionals live in the urban areas. With the rapid expansion, Starbucks targeted customers of every age group.
Einstein Bagels
That target market is younger than other coffee shops and is aimed at people between age 25 and 50.
Dunkin Donuts
Dunkin Donuts target market is the blue collar workers (18-60) of America who likes the quick service that Dunkin Donuts provides. Also within its target market are kids, highly due to its name. Recently Dunkin Donuts has been targeting the market of affluent women and professionals
Krispy Kreme Strengths
1. Company brand image and reputation.
2. Proprietary doughnut-making equipment, and capability to supply to franchises at profitable prices.
Krispy Kreme Weakness
1. Competitors are larger and well established in their markets, tougher to compete head to head once newness is over. 2. Core product does not incorporate health/weight conscious consumers.
Krispy Kreme Opportunities
1. Add more stores in current target markets to make it convenient for all areas. 2. Attract a broader range of customers and sell more products to existing customers by enhancing present menu offerings, esp in coffee and coffee drinks.
Krispy Kreme Threats
1. Competitors concerned about KK rapid growth and market share gains and erosion of their own market positions, may well be compelled to rejuvenate their product menus, this would be costly battle for KK. 2. Consumer habits changing
One strategy alternative in each cell matrix would be
One strategy in strengths/ Opportunity would be to increase marketing, incorporating social networks
The Business plan on Range Of Products Pokemon Market Product
Pokemon is the general name given to the many creatures found in the Pokemon universe. There are over 250 different types of Pokemon, and each type has a unique name (Pikachu, Char izard, etc. ). These Pokemon are the stars of video games for Game Boy and Nintendo 64, trading card games and cartoons. In the SWOT analysis, there are including the internal and external analyses. Strengths and ...
One strategy in Weakness/Opportunity would be growing new markets or increase the product line to incorporate healthier choices.
One strategy in Strength/Threats promoting healthier product line
One strategy in Weaknesses/Threats would be to avoid developing existing markets by existing products
Strategic issues with supporting data:
1. Krispy Kreme management should meet with franchisees and explore again the plans for opening new stores, it would seem to make sense to accelerate the pace of new stores openings at least in those areas where the enthusiasm for the products has been so great.
2. Adapt to consumer desires. Increase product development, i.e., healthier choices.
3. Lack of corporate governance.
Matching the Strengths of franchise opportunities, Krispy Kreme is highly favorable. Its resource strengths and competitive assets easily outweigh its resource weaknesses and competitive liabilities. The company has plenty of opportunities it can pursue to continue to grow more rapidly, the company should have little difficulty opening several hundred more stores, Dunkin Donuts has 3,600 in the US alone versus just over 180 for KK. Their strategy is a solid one, with competitive advantages in product quality, product appeal, brand reputation, and ability to attract high caliber franchises because of vertical integration into doughnut making equipment, doughnut mixes and coffee. The threats are still in the foreground, the product excitement being created by Krispy Kreme could end up helping grow the market for doughnuts and help over come the relatively flat demand for doughnuts that has prevailed. A costly battle for market share can be avoided.
#4 Three of Krispy Kreme’s strategic issues using SMART format: According to Return on Assets, there has been an increase from 1998, with a slight decrease due to further investment of assets in 2002. The company is converting money into net income, therefore, quickly enough to add more stores in the mix.
Return on Equity offers a profit generating efficiency for investors. The decrease in 2002 is because of improvements in company’s operations. Intangible assets are also excluded like the brand name.
SMART goal:
The Term Paper on Federated Department Stores Macy Market Sales
... because they appeal to a broader market providing a variety of products and services that many department stores do not offer, such as ... 1900's, Federated shifted its endeavors to growth and development, having increased its stores by 400 percent between 1964 and 1979. Although the ... Other than this strategy, there is not much that can be done, as all of their more popular brands are available in ...
Specific: To create shareholder wealth through an ambitious growth strategy meanwhile, using a thorough marketing strategy
Measurement: increasing brand awareness through strong positioning and optimizing distribution channels, therefore, creating brand loyalty
Aggressive: maintain a healthy increase in net sales, 10-20%, while optimizing efficiency.
Realistic: Increase the number of franchise stores to bring brand awareness and loyalty
Time-bound: capitalizing on the growth of the market, increase store franchises over the next three years
