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Eastern Gateway Community College Crumbl Cookies Marketing Plan Paper

Eastern Gateway Community College Crumbl Cookies Marketing Plan Paper

Description

  • For this Marketing Plan, I am conducting research on the company, Crumbl Cookies. I asked my professor how long the answers should be for each question and this was her response, “Remember… Brevity is more. Sufficient words to answer the question, but fluff has no place in this MP. Business-like. I do not count words, I review for substance. Think about how you would write a report for your boss. Short. Sweet, Thorough. Accurate. In-text cited and Referenced (if need). I am not concerned that anything you submit will be too long or too sort. Goldilocks Zone. Make sense?”. Please provide in-text citations and references throughout the Marketing Plan. Please use APA Format.

    Company Profile

  • Company Name: Crumbl Cookies
  • Industry: Food and Beverage
  • Headquarters (city, state, country): Orem, Utah, United States
  • Year founded: 2017
  • The number of employees: over 5,000
  • Annual revenue (estimated):
  • Major products and/or services: Cookies and ice cream
  • Target customers:
  • Distribution channel(s):
  • Key competitors:
  • Link to website: https://crumblcookies.com/
  • Link to Yahoo! Finance information page (for public companies):

Market Segmentation & Targeting

  • What problem does your product or service solve?
  • Describe the total market for your solution: Who are potential customers?
  • What are the key segments within this market?
  • Identify and briefly describe 1-3 segments that this company serves.
  • Which segment does this marketing plan focus on, and why? Why do you believe this segment will offer growth and profit opportunities?

Situation and Company Analysis

Economic Environment

Discuss factors that affect your consumers’ purchasing power and spending patterns. What is the economic environment that you are operating in? Is it growth, recovery or recession? Will it be easy to find staff? What is the current interest rate i.e. is it increasing or decreasing? What is consumer confidence like?

Technical Environment

The technological environment changes rapidly. You need to make sure that you are aware of trends in your industry and other industries could affect your business. New technologies create new markets and can influence your consumers and competitors.

Industry Environment

What are the trends in your industry? Are there new entrants in the market? Has a substitute product been introduced? Are there changes in industry practices or new benchmarks to use?

Competitive Environment

How many competitors do you have? Who are the key competitors? What are the key selling points or competitive advantages of each one? What is your advantage over competitors? Is the market large enough to support you and competitors?

Political Environment

Consider the political environment for the areas that your business will trade and operate in. Is there a stable political system? Are there any licenses and regulations that you should be aware of? Do you need to win support to be able to operate?

SWOT Analysis

Instruction: Complete the table below with descriptive responses and explanation as you answer the questions below, remembering that Strengths and Weakness are INTERNAL to the organization and Opportunities and Threats are EXTERNAL (i.e., C-PEST <competitive, political, economic, social, technological> that are not in their direct control).

HELPFUL Ideas

HARMFUL Concerns

Internal

Strengths

  • Does the organization have a strong brand presence?
  • What resources are available for marketing activities?
  • Does the company have unique products or services that satisfy the needs of its target market?
  • What makes the company’s products or services unique?
  • What value is brought to customers?

Weaknesses

  • Does the organization have a weak brand presence?
  • Are resources insufficient for marketing activities?
  • Does the company lack distinctive products or services?
  • Do current products or services fail to satisfy the needs of customers?
  • Do current products or services fail to bring value to customers?

External

Opportunities

  • What C-PESTs could the company try to take advantage?
  • Does the target market have any unfulfilled needs that the company can satisfy?
  • Are there emerging target markets with needs that the company can satisfy?
  • Are there ways the company and its competitors can benefit from working together?
  • Are there opportunities for collaborating with customers to build brand presence?
  • Describe and analyze if market demand is increasing?
  • Are there changes in the government regulations that will affect the company?
  • Describe any emerging global issues that will affect the company?

Threats

  • What are the tactics that competitors use to pursue customers?
  • What are the strengths of the company’s biggest and or emerging competitors?
  • In what ways are the competitors’ products or services superior to the company’s offerings?
  • How are competitors likely to respond to any changes in the way the company markets?
  • Is the company behind in adopting new technologies for marketing?
  • Describe any ways in which international competitors are taking away market share?
  • What do customers dislike about the company?
  • Describe and analyze if market demand is decreasing?



Mission, Objectives & Goals

State the mission or business purpose: what the organization wants to achieve, in market-oriented terms. (Example: Disney’s mission could be, “We create happiness by providing the finest in entertainment for people of all ages.)

List three (3) objectives that move the organization a step closer to achieving the mission. (Example: A Disney objective could be, “To be the most popular theme park for international visitors.”)

Convert objectives into specific marketing goals that are easy to measure and evaluate, e.g., SMART. (Example: The company’s goal is to increase market share of international theme park visitors by 10% within the next two years.”)

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