Established in Pakistan, Ice Age Ltd. Company established manufacturing and selling ice cream shop. This project will have significant implications in the situation today and the cumulative weight of the disease among youth and adults because of increased intake of fat and sugar because of the cumulative satisfactory corruption in ice cream and juice.
Making all kinds of ice cream production will be done on site and then be transported to a salon that was established in the heart of the city. Ice Age Ltd. entering the UK market with the aim to launch products as customers’ needs in English.
The company will follow the approach of the strategic position of the target market. Ice Age Ltd. have been deposited into the account of income and behavioral factors while designing a product for UK customers. It is important for companies to recognize the behavior of customers before entry into such markets.
Business strategy
Our business strategy will include the determination of the most lucrative product markets in a period of time to build himself a new product in this segment. The most important factor for the success of the Ice Age Ltd Brand is perception and how far can build a positive image in the minds of customers. The concentration of the business environment, continuing competitive advantage of quality products will provide powerful support for building the market.
Important for us to adopt a different strategy for the Indian market because of high customer who will buy them both for their families. So, we will introduce several new strategies to build ourselves up in the Indian market and develop a strong customer base
The Model used for preparing the marketing strategy by Ice Age Ltd.. in the UK Market
Product Range
External Analysis
Competitors Analysis
Internal Analysis
Environment Analysis
Marketing Strategies
Future Plans
Conclusion
The first involves the growth vector will get a market-penetration with existing products Ice Age Ltd will strive to attract customers from competitors through strategic positioning and will build a strong brand equity.
The growth vector will involve the expansion of the product during his stay in the market today. Ice Age Ltd and will be offering a new product. This will be addressed not only to existing markets but also for the price conscious segment.
The third growth vector will perform the same product to new markets.
The fourth is the growth vector for the diversification into new product markets. We will focus on the growth of both vector and study strategies related to the Ice Cream markets.
Internal Analysis
According to recent studies, most of the newly launched products or services fail because of incorrect analysis of internal and external requirements. States should be the most effective and efficient management of all internal problems and needs. Because the internal analysis so use full life cycle and the price really depends on the analysis, the Ice Age Ltd. has taken appropriate and effective to fully analyze all the requirements and conditions of the company.
During internal analysis the promoter should take care of the following things
Raw material requirement
Power supply
Labour requirement
Working force
Capital
Working capital
Internal rules and regulations
Proper management
Proper material handling
External Analysis
Customer Analysis
UK market with a broad size and demand base offers great opportunities for marketers. Two-thirds of the country the customer lives in rural areas and nearly half of national income is generated here. Only natural that rural markets are an integral part of the total UK market despite the Pakistani market increased dramatically.
Rural Bazar booming beyond expectation of all people. This was mainly credited to the surge in the buying capacity of farmers are now enjoying the effect of increasing surplus of agricultural products. In addition, the induction is expected to be Rs 140 billion in the rural sector through the government’s rural development schemes in the Seventh Plan and about Rs 300 billion during the Eighth Plan is also believed to have contributed to the rapid growth of demand. High income coupled with low cost of living in rural communities means more money to spend. And the market provides those choices, changing trends and tastes well.
Be Ice Age Ltd. has decided to penetrate this market with the basic idea of pressing the middle class that has established itself as a market for big knocks in the perception of many national and multinational players then try to forage into the Indian market.
Competitors Analysis
NEED OF COMPARISION
Customer Mindset
Customer loyalty has always had a different status for different brands. Sometimes they buy a few signs for the price or sometimes because of the features. Learn the customer mindset is very important as the level of awareness of individual purchases of different brands of unpredictable and always changing.
Market
The market share of players in the automotive market, two wheels have to be studied to determine which company in the booming and companies which are in the process of closing. Also sharing in advertising and promotion should be studied. Thus, the market helps us to know the current market leaders and followers of the market so we can develop efficient marketing strategies for various products after analyzing the current position of market players.
SWOT Analysis
SWOT analysis of Strengths, Weaknesses, Opportunities and Threats and his opponent a glimpse of the company’s products. Should be compared to obtain the overall analysis of all major companies and to identify companies with better strength, more opportunities and on the other hand the company has more than weaknesses and threats
The above diagram represents the sales of the famous Ice Cream parlors in UK and their sales before Ice Age entered the market
This diagram represents the sales pattern of all the Ice Cream parlors in UK including Ice Age Ice Cream Parlor after one year from the launch of Ice Age Ltd… (Estimated)
Environment Analysis
High initial cost of launching
Costs associated with the launch of a new business or innovation in existing businesses. There are front ends large investments made in new products, including the cost of product development, market research, marketing and the most important test launching. To create awareness and develop brand new franchise to require very large initial expenditure required in the advertising launch, examples of free and promotional products. Launch costs as high as 50-100% of revenues in the first year and progressively reduce this cost as a sign of maturity, gain customer acceptance and revenue rose. For signs of sustained production of ads varies from 5 – 12% depending on the category. It is common to occasionally drive by re-launching, which involves repositioning the mark with a substantial marketing support.
Market research
Customers’ purchasing decisions based on the perception of the sign. They also continue to change with fashion, income and lifestyle changes. Unlike industrial products, it is difficult to differentiate products based on technical or functional reasons. With increasing competition, companies spend large amounts on the number of product launches. Market research and test marketing the inevitable. Business is located on two aspects of brand equity and distribution network.
Marketing driven
In relative terms, the marketing function has a greater interest in the Ice Cream. The players need to reach the mass population and compete with other brands. The difference is felt more than a real difference in the product.
Brand equity
Brand equity refers to intangible assets in the form of brand names. customer loyalty to particular brands is due to the perception that the product has a distinctively superior quality and consistent, satisfying his / her special needs and provide better value for money than other competitor brands. A sign of success to produce strong cash flow that allows brand owners to reinvest some of it in the form of aggressive advertising and promotion to strengthen the perceived benefits of the sign. The value of a mark created in customer demand at a particular indication or willingness to pay premium prices for signs of selection.
Distribution network
In this sector, one of the most significant success factor is the ability to build, develop, and maintain a strong distribution network. The availability of near customers is very important for the wider penetration of the product largely of high-value products. It took a very big effort to build a chain of stockists, retailers, distributors, etc., and build loyalty. There are entry barriers for new entrants as new products are usually slow moving and has a lower customer demand. Therefore dealers / retailers are reluctant to allocate resources and time. Established players use their power to block new entrants. However, when the product offers a powerful innovation, build equity faster as well as distribution networks.
The main problem encountered while marketing in the UK market:
a. The people retreated and left behind Market:
Total population in poverty has not diminished in any way sufficient. So people are backward and backward until the market by and large the UK market characteristics.
b. Many languages and dialects:
Number of languages and dialects vary from country to country, region to region and from district to district as possible. The messages must be delivered in local languages and dialects. Although the number of languages that are only 16, which is estimated at around 850 dialects.
c. Spreading false signs and seasonal demand: –
For every product there are many brands ‘ local variety’, which is cheaper, and, therefore, is required for the masses.
d. Different way of thinking: –
There is a big difference in people’s lifestyles. Brand choices that customers enjoy a different city from the choices available to rural customers. Rural customers usually have 2 or 3 signs to choose from, while the city has multiple choices. The difference is also in the way of thinking. Rural customers have a simple enough idea, compared with urban partners.
Marketing Strategies
The concept is to make a product different from competitors, or they. When we look at UK ice cream market, we see that the leader continues Naturals Maintained market leadership by continuously differentiate on the basis of a new taste.
And comes with a connection in parallel with regular frequency. The only alternative for the Ice Age Ltd to survive in this industry is to differentiate itself. This differentiation could be on the basis of the marketing mix. (Product, Price, Promotion, Place) Thus, according to different factors of marketing mix four different strategies are made to develop the market in risk in the UK.
Target Market
Ice Age – Ice Cream Health lounge offers a variety of sugar free ice cream and fat free. Ice cream made with special attention to health conscious people and young people and those suffering from diseases such as diabetes.
Ice Age is an exhibition of ice cream that health is the highest of the middle class and wealthy classes of society.
For various special flavor and sugar free and fat-free is the Ice Age of Ice more popular among people concerned about health and fitness.
Ice Age targets markets where people are willing to buy junk food for healthy appetite and the fact that the Ice Age ice-free completely free of fat and sugar to taste the same original.
Ice Age and Ice is a market where people from the age of 1 year to 80 years can enjoy their favorite ice cream, bearing in mind those who are health conscious, diabetics, young, etc.
Segmentation
Segmentation variables
Several variables distinguish clients who prefer a variety of Desserts, such as frequency of consumption, price sensitivity, the relative importance of calories vs. taste, taking advantage (at home, at work, at a social event, for recreation or in a restaurant), and the size of the required to serve. Two of the most important variable is the price sensitivity and tradeoff might taste-calorie.
The reason that the price sensitivity is very important is that some customers will pay higher prices for high quality products. Therefore, someone may be able to make great margins selling into that market. On the other hand, there is a large market that will not buy desserts that price is too high, so some manufacturers will want to provide a frozen dessert, the price may be somewhat sacrificed quality. Customers now tend to be more health conscious, and therefore many will want to restrict the number of calories they consume desserts. On the other hand, the desserts are consumed for pleasure, and other customers do not want to sacrifice taste provided by a calorie-rich desserts. There are also certain people who have a high metabolism or engaged in heavy activity, leaving them with little to worry about weight. Frequent or “ heavy” consumers of frozen desserts will target large, but this group is not easily identified and reached, the customer is not likely to have different media habits or to certain shops often, for example. Serving size preference is an important issue, but is aimed at a few things by the price sensitivity.
The concept is to make the product different from those of its competitor. When we look at the UK Ice Cream market we see that the leader’s naturals have constantly maintained its market leadership by constantly differentiating on the basis of new flavors.
And coming up with line extensions with regular frequency. The only alternative for Ice Age Ltd. to survive in this industry will be to distinguish itself. This differentiation could be on the basis of the marketing mix. (Product, Price, Promotion, Place) Thus, as per the different factors of marketing mix 4 Different strategies are made to market in the developing metropolis in UK.
Target Market
“ Ice Age” – the healthy ice cream parlor offers a broad range of sugar free and fat free ice creams. The ice creams are specially made keeping in mind all the health conscious people as well as youth and people who suffer from illness like diabetes.
Ice Age is a healthy ice cream parlor which targets the higher middle class and rich class of the society.
Due to the variety of flavors and the specialty of being sugar free and fat free makes the Ice Age Ice Creams more popular among the fitness and health conscious people.
Ice Age targets the market where people are ready to buy healthy junk food due to their taste buds and the fact that Ice Age Ice Creams are completely fat free and sugar free with the same original taste.
Hence Ice Age Ice Creams targets the market where people from age group 1 year to 80 years can enjoy their favorite ice cream keeping in mind health conscious people, diabetic people, young people, etc…
Segmentation
Segmentation variables
Several variables distinguish clients who prefer a variety of Desserts, such as frequency of consumption, price sensitivity, the relative importance of calories vs. taste, taking advantage (at home, at work, at a social event, for recreation or in a restaurant), and the size of the required to serve. Two of the most important variable is the price sensitivity and tradeoff might taste-calorie.
The reason that the price sensitivity is very important is that some customers will pay higher prices for high quality products. Therefore, someone may be able to make great margins selling into that market. On the other hand, there is a large market that will not buy desserts that price is too high, so some manufacturers will want to provide a frozen dessert, the price may be somewhat sacrificed quality. Customers now tend to be more health conscious, and therefore many will want to restrict the number of calories they consume desserts. On the other hand, the desserts are consumed for pleasure, and other customers do not want to sacrifice taste provided by a calorie-rich desserts. There are also certain people who have a high metabolism or engaged in heavy activity, leaving them with little to worry about weight. Frequent or “ heavy” consumers of frozen desserts will target large, but this group is not easily identified and reached, the customer is not likely to have different media habits or to certain shops often, for example. Serving size preference is an important issue, but is aimed at a few things by the price sensitivity
S. W. O. T Analysis
Strengths:
Less fixed cost required
Healthy
No side effects
Less consumption of sugar
Less consumption of fats
Reduces chances of illness like diabetes
Useful for health conscious people
Tasty with health
Variety
Eco-friendly
Weaknesses:
Slightly high in price due to use of special products
Opportunities:
Introduction of new flavors
Easy in achieving break even point
Prices can be reduced in short run
Threats:
Lot of competition from existing Ice Cream parlors offering sugar free ice creams
