Recommended
More Related Content
Similar to Hokey Pokey Marketing Research
Similar to Hokey Pokey Marketing Research (20)
More from normanibarber20063
More from normanibarber20063 (20)
Recently uploaded
Recently uploaded (20)
Hokey Pokey Marketing Research
- 1. International Marketing Research Hokey Pokey Contents SWOT Analysis 2 Strengths 2 Weakness 2 Opportunities 2 Threats 2 Marketing Mix 3 Product 3 Price3 Place 3 People 3 Branding 3 Company mission 4 Benefits and features 4
- 2. SWOT AnalysisStrengths · Super premium brand · Supported by a leading private equity firm · USP is high grade super premium ice cream · Unique concepts like customers design their own creations which has been a success in international marketsWeakness · Ice cream consumption in India is lesser than other international countries since it is only 0.1 liters per capita yearlyOpportunities · Emerging middle class in India with high spending power · Growing ice cream industry · Excellent return on investment possibility and ability to diversify · A break away from traditional ice cream selling methodsThreats · Intense price and quality competition from reputable international chains like Baskin Robbins · The wholesale boxed market is a strong oligopoly of local brands (Amul, Kwality and Vadilal) with high barriers to entry which has not yet seen a successful international player Marketing MixProduct The product is hokey pokey ice cream. The point of differentiation for this ice cream is its super premium quality which stands out over other economy and standard quality ice creams in India. The quality is primarily defined by the amount of air trapped in ice cream during production (overrun) and the
- 3. fat range of that ice cream. The hokey pokey ice cream has an average fat level of 15-18 and overrun range of 25-40 % which gives it, its super premium focus ( (Advani & Shrivastava, 2015). Price The pricing for this product will not be kept too high. In the Indian ice cream industry, pricing tends to be variable over a range of spectrum. At one end, there are unorganized and unbranded varieties selling at cheap prices due to their average quality and on the other end there are reputable chains like Baskin Robbins selling at 55 rupees on average. Place India is a viable market place since the Indian food and Beverage industry is a lucrative one. The industry revenues amount to a staggering 4.66 trillion dollars out of which the ice cream sector comprises of a huge chunk. The ice cream industry enjoys revenues worth 22 billion dollars and is steadily rising since 2001 at the rate of 12%. People The primary target market for Hokey Pokey ice creams is the middle class consumer. The demand is set to increase as India’s middle class population is swiftly on the rise. Spending power and incomes are also steadily rising for the middle class consumer. Branding The brand name will be based off the international brand “Hokey Pokey” since it’s recognized globally for its high quality ice creams (Pokey, 2016). The name also seems to suit its product category which is based on ice creams and desserts. The brand strategy will be based on communicating through brand name and through the super-premium quality of the product which will be its USP. This will deliver the message that the brand is magically unique and presents itself in a distinct way than what has been traditionally served in the Indian market till now. This brand message will be communicated to the Indian target consumer market. The brand will be further strengthened through signs, symbols, music, strong USP and ESP and through the establishment of international chains throughout the country (Chamikutty, 2013). Emotional attachment generates a lot of brand loyalty and
- 4. repeat purchase so the brand hopes to associate happiness and likeable qualities with the brand. Bollywood stars will also be used to endorse the brand in order to strengthen its viability and credibility in the market since majority of the middle class is an avid consumer of television movies and soap operas. Company mission Hokey Pokey’s mission is to the top brand consumed by the Indian public within the ice cream industry by attracting the highest market share (Advani & Shrivastava, 2015).Benefits and features Hokey Pokey aims to provide the best ice cream and dessert experience to its consumers. As a result, it provides the best quality product which is categorized under “super-premium” quality. Consumers can also emerge themselves in the experience by participating and making their own creations. The Hokey Pokey brand presents a wide range of product offering to cater to everyone’s taste such s nuts, candy bars, cookies, brownies, fudge and other items (Advani & Shrivastava, 2015). Bibliography Advani, S., & Shrivastava, A. (2015, April 6). Mumbai-based ice cream brand Hokey Pokey expanding its portfolio with Greek yogurt . Retrieved from The Economic Times: http://economictimes.indiatimes.com/small- biz/startups/mumbai-based-ice-cream-brand-hokey-pokey- expanding-its-portfolio-with-greek- yogurt/articleshow/46818995.cms Chamikutty, P. (2013, May 7). You Scream, We Scream, Lets All Scream Hokey Pokey Icecream. Retrieved from Your Story: https://yourstory.com/2013/05/you-scream-we-scream-lets-all- scream-hokey-pokey-icecream/ Pokey, H. (2016). Hokey Pokey. Retrieved from http://www.hokeypokey.in/
- 5. Pair prices vs. no of visitsSUMMARY OUTPUTThere seems to be a postive correlation between the number of visits made by fans and the "Pair 8" arrangements provided. Fams are most excite to see International performers with a Balcony viewRegression StatisticsMultiple R0.103171097R Square0.0106442753Adjusted R Square-0.001607808Standard Error1.2155662234Observations655ANOVAdfSSMSFSignifican ce FRegression810.26959676471.28369959560.86877268230.5425 68093Residual646954.53040323521.4776012434Total654964.8 CoefficientsStandard Errort StatP-valueLower 95%Upper 95%Lower 95.0%Upper 95.0%Intercept1.80485760230.082364654221.91301134045.207 54334191999E- 801.64312282521.96659237941.64312282521.9665923794PAIR 10.02524587850.10667018080.23667231360.8129860416- 0.18421627570.2347080327- 0.18421627570.2347080327PAIR20.01929032930.10499860.18 371987140.8542908699-0.18688943690.2254700955- 0.18688943690.2254700955PAIR3- 0.05200241670.1351517194-0.38477066350.7005339747- 0.3173921450.2133873115- 0.3173921450.2133873115PAIR40.08177712770.09566382690. 85483855680.3929574399-0.10607247670.2696267321- 0.10607247670.2696267321PAIR5- 0.08545671260.1147094575-0.74498401840.4565523221- 0.31070513630.1397917111- 0.31070513630.1397917111PAIR6- 0.22379750830.1192085041-1.87736193750.0609188835- 0.45788045340.0102854369- 0.45788045340.0102854369PAIR70.03562563350.12943125080 .27524754080.7832140776-0.21853113670.2897824037- 0.21853113670.2897824037PAIR80.2004465850.11673056621. 71717307290.0864268489-0.02877057460.4296637446- 0.02877057460.4296637446 Attendance vs ReasonSUMMARY OUTPUTOut of all of the
- 6. reasons for attendance, ironically, the Choice of the music seems least appealing to fansRegression StatisticsMultiple R0.279395123R Square0.0780616348Adjusted R Square0.0709588739Standard Error1.1707043794Observations655ANOVAdfSSMSFSignifican ce FRegression575.313865229115.062773045810.99032275440.00 00000004Residual649889.48613477091.3705487439Total65496 4.8CoefficientsStandard Errort StatP-valueLower 95%Upper 95%Lower 95.0%Upper 95.0%Intercept1.4574317560.083214689217.51411643121.5615 4201853007E- 561.29402923151.62083428061.29402923151.6208342806LIVE MUS0.09061926280.05298426871.71030506120.0876874014- 0.01342202290.1946605486- 0.01342202290.1946605486VSOGOOD0.2344652450.04632122 835.06172339860.00000054180.14350767840.32542281160.143 50767840.3254228116ORPGOOD0.10310865380.03525537032. 92462263070.00356906290.03388029320.17233701440.033880 29320.1723370144CHOICE-0.09474613260.0432187615- 2.19224543430.0287161863-0.179611615-0.0098806503- 0.179611615- 0.0098806503FAMOUS0.11580319620.03954344222.92850570 540.0035253660.03815466620.19345172610.03815466620.1934 517261 Gender-Source of MarketingSUMMARY OUTPUTTV ads and Featured Stories are bringing in the least crowds at concerts, perhaps it's time to stop investing into these marketing strategiesRegression StatisticsMultiple R0.1727985102R Square0.0298593251Adjusted R Square0.0193632127Standard Error0.5091125622Observations655ANOVAdfSSMSFSignifican ce FRegression75.16151485350.73735926482.84479853020.00628 26131Residual647167.69955384880.259195601Total654172.86 10687023CoefficientsStandard Errort StatP-valueLower 95%Upper 95%Lower 95.0%Upper
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ttd vs type of music played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
- 30. 0010000112221222222233122231222212220500201321213212 People who thought that classical music was played too much were first timers11300112224123311233322221123112212222221000011 23122222213331113210000122021222012222112321222210000 12000212331221212212100002222212321112222221211222321 12412311202111333222222132212222100001220022221122212 22221030310000222221222222200330101222210000512233000 04132322022222104222341223321313213122223100000001000 00012012220000222212223222121132232232122125111210000 22131122221222212221123301112311123530131210010000100 00422220222210000100001000010000522312233332222122221 00005000012312120210021010000122221000021333112233222 21000042132122323212212222122221200312222322323222052 22112222123222223251231320102201032222222212122112122 10000422212122212232112221222112000312231222213322123 22100001221032121222311211242322212334200020000420001 21221221112211422331000012222122224111212222113201222 21000012221422224132212201222223321211132110301312222 22210020222224222212301120201000052020112221220242123 32223100001000011333100004122212221122221222312222123 20100001122210000321231221211233312001000000000122221 23333122212232311225113242132122205120331233122332223 24222222230123125112312132131312231210000122221222210 00031233122224312112222132121221212210020202222212222 12213422232201220010123031302022233322221222310000121 12120001132222033512224222310000322221000051222100001 12221000032323100004210112233431231220010000120001232 22132332223222223200042231422211123312122522221002010 00000000100004000012312122313220022212122112222141322 22223111311322210010122221200320000202001312312223120 01200003000011323522021233312212122111222112111222221 00003222311233100202221222132322304122232120100001221 01121222122100001211310000100001000010000132123222220 00012322323225112322222322111222232020422221113310000 10000121011123312200521311220013212322233321210020322