International Marketing Report for Pinkberry. This International Marketing Report establishes the plan for the expansion of Pinkberry into the UK marketplace. Market analysis, entry strategies, marketing objectives and the implementation of Pinkberry
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Executive Summary Introduction Report Objectives Market Choice Analysis > External analysis > SWOT analysis > Porter's Five Forces Analysis International Marketing Objectives Market Entry Strategy > Why Franchising? Target market needs Market positioning Value Proposition Segmentation Marketing Mix International Pricing Framework Pricing Strategies Financial Projections GANTT Chart Control SERVQUAL Loyalty Card Scheme Customer Feedback Gap Model of Service Quality This International Marketing Report establishes the plan for the expansion of Pinkberry into the UK marketplace. Market analysis, entry strategies, marketing objectives and the implementation of Pinkberry's launch into the UK will be discussed to demonstrate the feasibility and potential for expansion. The main conclusions drawn from the report are: the ideal region for Pinkberry's entry is central London and this will be done via franchising. Depending on success experienced at this first outlet, Pinkberry is suggested to further expand in the UK with more outlets and into different retail locations: cinemas, malls, etc. Pinkberry is a franchise of upscale frozen dessert outlets headquartered in Los Angeles, California. From the store design and exceptional customer service to irresistible flavours and fresh fruit toppings, Pinkberry provides a social experience that indulges the senses. The first store opened in January 2005 by Korean Americans, Shelly Hwang and Young Lee; with operations now expanded across 11 countries1. The current success of Pinkberry stores in US and around the world prompted the need to expand to a continent where it currently doesn't exist. The frozen dessert has a 'groupie-like' following, with customers including celebrities such as David Beckham, Taylor Swift, and Kim Kardashian. Customers are willing to queue for hours at a new store opening, Pinkberry is known as "the taste that launched a 1000 parking tickets2," this demonstrates Pinkberry's high market appeal. Given Pinkberry's current success and its ambitions of furthering global expansions, the next logical step for Pinkberry should be to expand into the UK market. ...read more.
and the market. In this stage Pinkberry seeks to build brand preference and increase its market share14. Implications for Pinkberry in its growth stage Key point Characteristic in growth stage Relevance to Pinkberry Product High quality maintained, additional product/service features Quality of yogurt flavors and toppings will remain a priority as quality is a key differentiator for Pinkberry; Pinkberry offers online ordering, home delivery and catering services. Pricing Prices maintained as firm enjoys increasing demand, little competition Prices will be kept at a level where they're marginally lower than most competitors' whilst maintaing quality. Distribution Channels are added as demand increases and customers accept product Since there is high demand, there is variety to meet this demand. Various distributors are carefully chosen to provide for the demand, each one must meet high quality standards. Promotion Aimed at a broader audience Promotion strategy is broadly targeted from teenagers to young adults. Various online streams of promotion will be used: Pinkberry's website, Facebook, Twitter, Flickr Pinkberry's first outlet will be in central London using a direct sales channel distribution as it: * Allows for high levels of service to be delivered to customer * Enables Pinkberry to directly deal with producers, rather than intermediaries. This allows active market learning, key to expansion around UK * Gives greater control over distribution channel; improves communication & consistency. * Offers more flexibility to Pinkberry's distribution/procurement channels o Pinkberry plans to source dairy/fruit products from local farmers, whilst tapping into the distribution channel of local supermarkets to procure exotic fruits. o The flavoured powder will be sourced from America to ensure consistency of Pinkberry's yogurt taste. Pinkberry's distribution channel is chosen in order to meet both Pinkberry's (the seller's) objectives and the needs of the customer. A shorter distribution channel (with few intermediares is appropriate as the produce is perishable and must be provided fresh. Also, Pinkberry will be ordering medium-sized orders, twice a week to ensure freshness. ...read more.
Customers' expectations have been shaped by word of mouth, their personal needs and their own past experiences. Gap will be increase if there are large distances between customer's perception of the experience and the customer's expectation. Routine transactional surveys after delivering the customer experience are important for an organization to measure customer perceptions of service. Therefore, Pinkberry have feedback from to get the dates and evaluate their comments. Moreover, online feedback ( e.g. facebook, twitter )also is one of the methods to measure the customers satisfaction of their services and decrease the opportunity of gap enhanced. 1 Pinkberry. (2011). 100th Store Opening. Available: www.pinkberry.com/100ways. Last accessed 20th March 2011. 2 Los Angeles Times. (2006). The Taste that launched a 1000 Parking Tickets. Available: http://articles.latimes.com/2006/aug/04/entertainment/et-pinkberry. Last accessed 18th March 2011. 3 British expats. (2007). Cultural differences between the US and the UK. Available: http://britishexpats.com/wiki/Cultural_differences_between_the_US_and_England. Last accessed 20th Mar 2011. 4 http://www.dailymail.co.uk/health/article-1352743/Takeaways-face-1-000-fat-tax-help-curb-obesity.html 5 http://www.bloomberg.com/news/2011-03-18/u-k-inflation-rate-climbed-to-4-2-in-february-economists-say.html 6 http://www.worldsalaries.org/uk.shtml 7 Guardian UK. (2007). England and Wales' population broken down by race, sex, age and place. Available: http://www.guardian.co.uk/news/datablog/2010/feb/26/population-ethnic-race-age-statistics. Last accessed 18th March 2011. 8 http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B9887-4YT5HPT-C&_user=10289373&_coverDate=05%2F31%2F1994&_rdoc=1&_fmt=high&_orig=gateway&_origin=gateway&_sort=d&_docanchor=&view=c&_searchStrId=1684350875&_rerunOrigin=google&_acct=C000012698&_version=1&_urlVersion=0&_userid=10289373&md5=ae0e3545a8abb7ef4ab85cb377f64d8b&searchtype=a 9 http://www.whichfranchise.com/feature_template.cfm?featureId=26 10http://www.direct.gov.uk/en/Employment/Employees/TheNationalMinimumWage/DG_10027201 11 Scot, O. (2002). Market Report on the Refrigerated Yogurt Market in the U.S.A. Market Report. 1 (1), p1-23. http://www.swissbusinesshub.com/photos/news/YogurtMarket_US.pdf 13CIA. (2011). Fact Book. Available: https://www.cia.gov/library/publications/the-world-factbook/. Last accessed 23rh Mar 2011. 14 Ferrell, O.C. & Hartline, M.D. (2008). Marketing strategy. 4th ed. USA: Thomson South-Western 15 Pinkberry. (2010). Pinkberry Franchise FAQ. Available: http://www.pinkberry.com/franchise-faq.html. Last accessed 20 March 16 Guerrero, J.. (2006). 10 Ways to motivate your employees. Available: http://contractingbusiness.com/feature/cb_imp_24934/#. Last accessed 20 March 2011. 17 Mayerowitz, S.. (2007). Fruity Frozen Yogurt Wars Heat Up. Available: http://www.pinkberry.com/press/50/155-fruity-frozen-yogurt-wars-heat-up.html. Last accessed 20 March 2011. 18 Guinan, P. . (2008). The Secrets of Marketing in a Web 2.0 World . Available: http://online.wsj.com/article/SB122884677205091919.html. Last accessed 20 March 2011. 19 Pinkberry. (2011). Loyalty cards are back. Available: http://us1.campaign-archive.com/?u=269ab3659417000e052ae8ca4&id=8a0ade5394&e=52c4caf189. Last accessed 20 March 2011. 20 Pinkberry. (2009). LA's frozen cult. Available: http://www.pinkberry.com/press.html. Last accessed 20 March 2011. 22 Exchange Rate. (2011). Exchange Rates & Foreign Currency Exchange Rate. Available: http://www.exchangerates.org.uk/. Last accessed 22nd Mar 2011. ?? ?? ?? ?? 1 ...read more.
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