PRESENTED BY: NUDRAT ISHAQUEHIRA ABBAS & ASEEM RIAZ
Frozen gelato Custard is a natural, wholesome, frozen dairyproduct. It differs from ice cream in both taste and texture. Frozen gelato custard is the finest quality all natural with acommitment to incorporating the freshest, richest, andcreamiest ingredients into a world class product. This frozen gelato custard was inspired from the richness ofthe Ethiopian Yirgacheffe coffee. Rich Flavor because it is made with an Egg Base Smoother and Creamier Texture (no ice crystals as in icecream or ice milk.) Old-Fashioned Homemade Taste (made fresh every day.)
Climate Economy Major Industries Trade Customs & Courtesies Life Style Food
The predominant climate type is tropicalmonsoon, with wide topographic-inducedvariation. The high central plateau is mild, with a meanaverage temperature of 62 degreesFahrenheit. The bulk of the rain in thehighlands falls in the major rainy season frommid-June to mid-September, with an averageof forty inches of rain during that season.
The economy is based on agriculture, in which 85percent of the population participates. Ecologicalproblems such as periodic drought, soildegradation, deforestation, and a highpopulation density negatively affect theagricultural industry. Most agricultural producers are subsistencefarmers living in the highlands, while thepopulation in the lowland peripheries is nomadicand engages in livestock raising.Gold, marble, limestone, and small amounts oftantalum are mined.
After nationalization of the private sector before the1974 revolution, an exodus of foreign-owned andforeign-operated industry ensued. The growth rate ofthe manufacturing sector declined. Over 90 percentof large scale industries are state-run, as opposed toless than 10 percent of agriculture. Under the EPRDFadministration, there is both public and privateindustry. Public industries include thegarment, steel, and textile industries, while much ofthe pharmaceuticals industry is owned byshareholders. Industry accounts for almost 14percent of the gross domestic product, withtextiles, construction, cement, and hydroelectricpower constituting the majority of production
The most important export crop is coffee, whichprovides 65 to 75 percent of foreign exchangeearnings The agricultural sector is subject to periodicdrought, and poor infrastructure constrains theproduction and marketing of Ethiopias products. The majority of Ethiopias exports are sent toGermany, Japan, Italy and the UnitedKingdom, while imports are primarily brought infrom Italy, the United States, Germany, and SaudiArabia.
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The Amharic family is strongly patriarchal, apattern typical throughout Ethiopia. Sons usuallybring their brides to live with or near theirfather’s family, and three or more generations inthe male line frequently live under one roof. Ageis highly respected in Ethiopia, and the elderlyare cared for by their children. Only a smallpercentage (6 percent) of the population is olderthan age 60. A woman’s duties and privileges arewell-defined both within the home andelsewhere, and women often lead sheltered lives.Families are very private.
The Ethiopian diet includes lamb, goat, andfowl. Ethiopians do not usually eatpork, turkey, or ham. Common foods includeinjera, fermented bread made of teffflour, and wat, a spicy stew made with beef orchicken. Strict religious dietary and fastingcustoms, especially for Muslims, also affectthe menu. For the many people who havelimited access to food, a daily diet consists ofgrains and relief supplies
The market we will engage in is the Ethiopian metropolitanarea. The specific market we will serve includes the universitystudent population, schools, upper class audience. Theoverall age demographics of the population break down asfollows 13% over 65 25% between 45 and 64 28% between 25 and 44 12% between 18 and 24 23% of the population is under 18
Within this population, we are focusing on twoseparate groups with different needs: 18-24 yearolds, including students at the localuniversity, and "first families" - young adults(25-35) with children under 13. 18-24 year olds have disposable incomes whichthey tend to spend on immediate gratificationitems, especially when those products have aprestige or individuality value We will also target "first families".They havelimited entertainment dollars to spend eachyear, and our company can offer them somefamily bonding time for approximatelyBr15, versus Br30 to Br40 for dinner or a movie.
18-24 Year Olds First Families Other
Product◦ Develop the long-term relationship with thecustomers◦ Give values to the customers to delighting them◦ Do whatever it takes not to satisfy the customersbut retain our customers◦ In order to accomplish this objective; the companyhas established sales, marketing and supportteams.
Product Variety:◦ Our product would be available in the followingflavors:-◦ Yirgacheffe coffee◦ Blue berries◦ Vanilla◦ Chocolate
Brand Name:The name which we have chosen for ourproduct is“Scream Gelato Cream”.
Quality:High quality assurance would be our first priority.This would be ensured by:◦ Implementing high quality standards◦ Total quality management◦ Acquisition of the high quality raw materials is asweet, refreshing Juice with an eye catchingtetrahedral pack.
Pricing:◦ Our pricing strategies for the product are for totalcost, which include custom services and otherexpenses. Pricing strategy usually change as theproduct passes through its life cycle. The priceshould be set at moderate level in order to attract alarge number of buyers and to gain large marketshare.
COMPETITION AND BUYING PATTERNS: In the frozen dessert industry, consumersmake purchasing choices for a number ofreasons. Perceived quality of product is essentialfor consumers going out to eat, because of theprice premium they must pay. Most of our competitors have emphasized thehigh quality of their products to justify theirprices. Others, like Dairy Queen, toutconvenience and low price, but they are able todo this because they offer many otherproducts, as well.
Consumers going out for a frozen dessert wantconsistent quality, a particular ambience (whichvaries by market segment), and, recently, astatement about their individuality through theirfood choices Ben and Jerrys has responded to these needswith appeals to socially and environmentallyconscious production; Cold Stone Creameryoffers unparalleled "just for you" customizationand service; Baskin Robbins famous "31 flavors"comes from the vast array of choice consumersdemand.
Among the Ethiopian population, manyconsumers have consistently shown acommitment to local brands and locally-madeproducts over national brands and chains. In thelocal frozen dessert market, Prince Pücklers hasbenefited from this preference by making its icecream in the store from high-quality localingredients. We will play up the "made-daily-in-our-shop" aspects of both of our products, aswell as the fact that we are locally owned andoperated by people invested in the community.
The 18-24 year olds are looking for goodtasting, prestige products. They want to maximize productcustomization to emphasize their sense ofindividuality, within comfortable parameters;new combinations of familiar flavors workwell with this group.
The young families in our targeted market arecost-conscious, and often health conscious. Thelower fat and sugar content of our products willappeal to young parents seeking a "treat" forthemselves and their children that don’t comewith a hefty price tag or unhealthy emptycalories. These consumers want a family-friendlyplace where spills and drips are not acatastrophe, but with a comfortable atmospherea bit more upscale than most fast food stores.They want comfortable, familiar flavors for theirchildren, who crave predictability, and moreadventurous flavor and ingredient options forthemselves.
Frozen Gelato Custards has two competitiveedges:◦ Rich and creamy, high class, low fat, frozendesserts.◦ Our friendly, neighborly approach to customers. Both of these selling points will help us toachieve our overall goals of a steadycustomer base with repeat sales. Our focuson personalized attention to ourcustomers, and involvement in local eventsand clubs, will set us apart from ourcompetition.
The 18-24 year olds go out for ice cream morethan any other age group the "town and gown" niche is very important They are reachable through music, specificallyR&B, and they prefer prestige products, whichmatches our choice of product offering. The "first families" were chosen because they area growing population, both numerically and intheir choice to go out for ice cream more often They all have young children, so tactics that aregeared towards markets that relate to children orto the children they may prove highly effective ingenerating trial and sales
We plan to reach the first families through theirchildren. Frozen gelato custard will sponsor alittle league ball team and offer the players a freefrozen gelato Custard on days they win agame. This will draw them and their families intothe store. We will also display the sample bench in parks nnear residential areas.. We will teach the childrenhow we make frozen custard and Italian ice. Wewill let each child make their own creation andhope they enjoy their time at our scoop shop somuch, that they convince their parents to bringthem back.
Frozen gelato Custard will use multiple methods to approach itstarget markets First, a mass mailing campaign will create customer awarenessand generate trial. our marketing strategy will focus on our two target marketsseparately. For 18-24 year olds, we will distribute flyers on campus and atthe bus station. first families" more effectively, we plan to sponsor events andhelp out with local elementary schools and after school activities All of these marketing campaigns will be supplemented byongoing "brand awareness" campaigns, with advertisements inthe local paper, interviews with the college newspaper (as theowner is a graduate), and fliers posted at popular local events.We will highlight our community service involvements as part ofour "good neighbor" approach to doing business in this area
Our sales strategy focuses first on providing the highestquality products and services to our target customers. Product offerings and prices will be clearly posted behindthe counter, and scoopers will be educated about theingredients and processes involved in each one, so theycan answer any and all customer questions. we will keep a running tally of flavor choices, correlatedwith weather patterns for the day, to determine customerfavorites In addition, our seating area will becomfortable, clean, and attractive, with booster seatsavailable. We will initially offer three sizes: 5oz., 7oz., 9oz. sizedcups. There will be additional topping options at Br0.35each, thus increasing the sale price
Our sales will largely be determined by foottraffic in the area, the season of the year, andcurrent weather conditions. We estimate first yearsales of approximately Br66,840, Br97,760 in thesecond year, and Br113,402 in the third year These sales forecasts are based on several realworld observations. On a rainy Friday afternoonin May, we observed 25 people an hour, make apurchase from one of our future competitorslocated in a mall During a weekend evening in May, we observed40 people an hour; make a purchase at an icecream shop in Eugene
We also assumed that there would be a 60%increase in summer month sales over wintermonth sales. Baumans Frozen Custard and Italian Ice plans tohave a soft start, inviting only family and friendsover for the first few weeks. we have little brand recognition, initial salesbeyond that are predicted to be low, averagingless than half of the observed hourly rate We expect our sales to follow a seasonaltrend, peaking out in July (the first year weassumed to still be building a customer base)and reaching a low in December and January
For the second year, we expect to see a total 46%increase in sales due to a normal annual salesvolume, and the dramatic difference between themonthly average of the startup months and theircounterparts in the second year. In the third year, we expect a moreconservative 16% increase in sales revenues. Our sales forecast assumes a 10% increase incosts over the next year due to the increase indairy product and sugar prices, which is areasonable assumption given the current marketdata.