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MKT7045 Global Marketing Management

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A market evaluation of a country other than the U.K. demonstrating thorough analysis of secondary data  not including the references and appendices)

1. PEST analysis

2. A market entry plan for a chosen brand (including positioning strategy) based on a ‘realistic’ evaluation of the chosen firm’s characteristics e.g. resource base etc.

3. The report should also include an explanation of why and how that expansion would benefit your chosen firm.

4. You must draw on academic theory to justify your analysis and proposal.

Ben & Jerry’s have adopted a three-part mission statement formalizing the philosophy of the company. The missions include:

1. Product mission: The objective is to make ice creams, distribute and sell the best quality of products that include a wide range of flavors.

2. Social mission: The mission is to operate the organization in a manner that it recognizes the focal part that business plays in the structure of society. This can be achieved through initiating innovative methods to improve the community’s quality of life locally, nationally and internationally. They have also planned to start a sustainable dairy farming project so that they can give something back to the community (Van Calkar et al., 2005).

3. Economic mission: To be able to operate the company on a sound financial basis such that it creates a profitable growth, increases its value of its stakeholders, and expand opportunities and also provides financial rewards to its employees. (Ben & Jerry’s, N.D.)

Ben & Jerry’s has different variants to meet the needs of the customers which enables them to tap a broader market. It can be segmented on the basis of:

1. Demographic Segmentation: The target customers include everyone above eight years and are not gender based. The income level of the consumers affects their buying behavior since it is of premium category. A habitual buyer would often buy this product irrespective of its price.

2. Psychographic Segmentation: Ice cream lovers and individuals who wouldn’t mind spending a little extra for a better quality product prefer the product. The choice of product is dependent on the  behavior and the lifestyle of the customer.

3. Behavioral Segmentation: This segmentation takes into consideration the needs and wants of the customer. The experience Ben & Jerry’s provides and in case of self-indulgence is an influencing factor to gain loyal customers.

The marketing strategy that will be adopted by Ben and Jerry’s is ‘pull strategy.’ This will help in promoting the product through mass selling, where it can advertise itself through a large group of people.

· Ben & Jerry’s can do their free cone every year, which will attract many customers.

· There will be promotional discounts for the first 50 customers at the Ben & Jerry’s ice cream parlor.

· Celebrity endorsements.

· Advertisements on television.

· In its early stages, children will be allowed to meet the characters Ben and Jerry while they perform in malls, which will give more visibility.

· Social media marketing through Facebook and Twitter.

· A product launch event will also be held which will be advertised and communicated through social media channels.

· To publicize the mascots of the brand, there will be a comic strip dedicated to them in the newspaper that will make them more popular. The teenagers and youth are likely to get attracted to these comic episodes.

· Customer involvement activities will also be conducted in stores by giving them an opportunity to make their sundaes. The feeling of satisfaction while eating their self-made sundaes will make them associate better.

MKT7045 Global Marketing Management

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