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Transcript of pinkberry
Fresh Fruit Bowl SWOT Analysis Strengths Well-known brand within the frozen yogurt segment
Quality and freshness of Ingredients
High Zagat Rating-- #1 for Frozen Yogurt
Trendy – cult/groupie-following
“Healthy” snack—tart vs. sweet
Social Media interactivity
Variety in menu
Word of mouth frequency
No limit on toppings, sold in sizes (not price per ounce)
Modern interior design at Pinkberry shops (sleek)
Certified by National Yogurt Association Target Audience Category Insight Weaknesses Primary: Young adults, men and women, ages 18-26, college/graduate students, and young professionals in Boston
Secondary: Urban families with young to teenage children living in around the city of Boston Non-consumers think its only Californian based brand
Still considered a “treat”
Frozen yogurt market is saturated
Low per-purchase value
Non-loyalists don’t care where they get their frozen yogurt
Lack of US locations per state
Not readily available for general public Company Insight In January 2005 the first store opened in Los Angeles, California by Shelly Hwang and Young Lee.
Pinkberry is the leading Frozen Yogurt brand for franchising
Now nearly 100 locations throughout US, Mexico, Middle East
Launched at least 15 additional domestic and international markets this year
"Cult-Like" Following with its customers
Rated #1 in the Frozen Yogurt category by Zagat
One of the top 20 social media restaurant brands in America Opportunities Open more stores in the Boston area
Reward social media interactivity of customers
Student Brand Ambassador Programs
Further penetrating the college market/young professionals.
Expanding menu items Frozen yogurt categorized under Ice Cream and Frozen Novelties
The overall Frozen Novelty category had a slow growth rate between 2009-11'.
Only growth this section has seen comes from the frozen novelties area which experienced a rise in sales from 36% in 2006 to 41% in 2011. Threats Local eateries have included frozen yogurt in their menus
Easily substitutable and expendable
Still a trend
Lack of differentiation in product category
Relatively expensive dessert
Children are not a main consumer Product Insight High Quality ingredients and a signature 'tang.'
Claim to have a strong emotional connection between products and customers.
Multitude of Fro-Yo Flavors
Daily cut fresh fruit and seasonal fresh fruit toppings
Creative liquid and premium dry toppings
Offers parfaits and smoothies as well as traditional topped fro-yo Market Drivers Economic Factors: recession has forced consumers to look for less expensive alternative to snacks and dessert
Healthy Lifestyle: National concern with healthy living and physical image have caused consumers to choose nonfat or low fat products Competitors "Swirly Goodness" with signature, light tartness
"Inspired by European Gelaterias and Yogurterias"
Packed with live and active cultures and approved by National Yogurt Association.
"Distinctive yogurt flavors to complement high quality toppings
-Peppermint Red Mango
Supermarkets Red Mango currently has 145 stores in 25 states in the United States.
First opening in Korea in 2003 and later in Los Angeles in 2007.
The store is well known for both its frozen yogurt and smoothies that are made with all natural, non/low fat, kosher, gluten free products infused with probiotics.
Frozen yogurt flavors consist of: Original, pomengranate, vanilla, and rotating or seasonal flavor, the toppings include fruits as well as chocolate, candy, and syrups. Red Mango Mixx
Ben and Jerry's Competitive Overall Market Yogurt Flavors Toppings Currently has four locations (Porter, Harvard. Fenway, Newbury) in the Boston area.
Prides itself in not being a franchise or chain company which allows its employees to serve each customer with “personalized attention.”
The Boston.com “A-list” committee has listed it as the “Best Fro-yo of 2011” and 2010. Supermarkets and similar shops create competition for private label and popular brands, especially during the summer season.
Store brands have created their own version of ice cream and frozen yogurt options at lower prices to compete with popular brands during a time of recession.
Aside from economic factors, puddings and gelatin options also creates an alternative to ice cream and frozen novelties. Berry Line: Frozen Yogurt Segment Due to the health conscious and national healthy eating trends, frozen yogurt has benefited from being a healthier alternative to ice cream and being available in single servings.
Although, frozen yogurt has had the strongest sales between 2006-2011, it still only accounts for 3% of the total category sales. Frozen Novelties Progress Growth in this section comes from smaller brands, which could mean that interest starts from consumers rather than marketing.
Frozen yogurt's healthy image and close association with regular yogurt is estimated to drive the category into greater sales.
Forecast to grow by 34% between 2011 and 2016, to reach $281 million. Mintel. Fruit Parfaits and Smoothies Consumer Perspectives High-quality, fresh ingredients in 4 categories:
-All-Natural mixed nuts
-Honey Almond Granola
-Organic Fruity Bears
-Peppermint Bark PARFAITS
5 layers of fresh fruit, honey almond granola, topped with Pinkberry
Top to Bottom:
-Honey Almond Granola
-Honey Almond Granola
You can also tailor your own. Frozen yogurt has a positive association with regular yogurt and health benefits
Single serve form translates to portion control and can easily be used as a snack or dessert SMOOTHIES On-the-go option
Mixed Berry or Green Tea Flavors
Custom design your own smoothie option
"Portable Pinkberry" Luxe -- Imported from Italy
-Milk Chocolate Crunch
-Peanut Butter Crunch
-Chocolate Sauce Ben & Jerry's References 'Ice Cream and Frozen Novelties-US.' July 2011. Mintel. 3 Dec 2011.
'Household Products-Food Products:Frozen Yogurt (Fall 2010 Product
Report, Base: Total Principal Shoppers). MRI+Mediamark Internet
Reporter. 1 Dec 2011. <www.mriplus.com>
Products. Pinkberry. Web. 2 Dec 2011.
<www.pinkberry.com/products> Category Target Audience Young adults, females 18-24, women are more likely to be consumers because of the healthy, "better-for-you" image of frozen novelties
More women, 27%, compared to men, 24%, are consumers of frozen novelties
Asian Americans are more likely to eat frozen yogurt as it is perceived to have healthier attributes. Coldstone Creamery Founded in 1978, the small ice cream shop has become an international chain.
Currently has 5 ice cream shops in the city of Boston
Well known for its 'Free Cone Day' promotions, partnering with celebrities, creative ice cream names and strong activism history Opened in 1988, Coldstone now has over 1400 stores in the US and stores in 17 other countries.
Known for mixing all its high quality and rich ingredients on a frozen granite stone, to make its signature Creations.
Coldstone's main product is butterfat ice cream, expanding into pies, cakes, smoothies, and shakes
-Street Art (Berries)
-Local Magazines/City Specific
Social Media Campaign
-Facebook (PPC), school newspaper websites
-Free Fro Yo Day (Student ID)
College Ambassadors Marketing Strategy (Mediums) Marketing Timeline 2002 March (cc) image by jantik on Flickr Feb. Nov. Budget
$600,000 Sept. Guerilla $150,000
Social Media $100,000
College Ambassadors $20,000 Mar. YEAR ROUND PROJECT: Social Media Campaign College Ambassadors May College Ambassadors Print, Billboards, Online Deals Guerilla Guerilla Print Social
Media Online Deals College
Ambassadors Billboards Trends The BIG IDEA
Real People. Real Yogurt. Real Good. Fro-Yo