Marketing Plan: Peters Ice Cream

Marketing Plan: Peters Ice Cream

TASK 1

Introduction

Peters’s is one of the most popular ice cream brands in Australia. The company was established in 1907. The company is mentioned as an Australian icon and promotes itself as an embodiment of carefree spirit. However with ice cream, industry in Australia getting more competitive, the company is facing stiff competition from companies like Ben n Jerry’s and Streets Ice creams (Peters, 2014). This has implied for the company to seek better ways of promoting its products. The present report analyses the promotional strategies that can be used by the company for more effectively promoting its products.

Target Market
According to Jim (2012), demographic segmentation is helpful for any company in understanding the market through aspects like age, gender, income-levels etc. Accordingly, the primary target market for company is people of all classes in the age of five to twenty years. This is because Gelato is aiming for consumers of premium ice cream for whom cost is not a first choice but the good taste and quality of the ice cream.

Preliminary profile of the consumer

Region

The characteristic consumer grouping that Gelato is targeting is consumers residing in Australia

Household income

Household income range between lower middle to upper income level of the consumer as Gelato will be promote ice creams that will be priced in different price ranges.

Social status

According to Kotler and Keller (2009), consumers also consume foodstuff like ice creams also for the representative and quality tag linked with them as exposed by their promotion rather than simply to please their cravings. Product will target people having lower middle class to high status individuals in society.

Alignment between selected product and the consumer profile

Clearly, the product features align with the profile of the target consumer base. The product is good quality product that is not only quality product in terms of the good quality ingredients but also as a famous brand that is easily recognized by all classes of people. The consumer profile comprises of consumers who have high income levels thus they can afford the product and moreover these consumers desire for such product to display their social status.

Task 2

Buying Trends

According to Akalın, Karagozlu and Unal (2010), ice cream has changed its opinion from being a impetuous indulgence to a further multifaceted eating pleasure and today consumers are looking for variety in flavors and characteristics in their ice creams. Consumers of ice cream view it as a reasonably priced treat (Rook, 2010). Today consumers insist on not just a treat but also a luxury (Davis, 2009).

Value

According to Ares and Deliza (2010), latest generation of consumers are value minded consumers. Therefore, albeit pricing may not be a restraint for consumers seeking ice creams but they will be surely look for value for money.