'Marble Slab Case Analysis\r'

'EXECUTIVE SUMMARY Company: marble Slab is a company that is noteworthy for making fresh crackpot option. It dish bys its premium prestige codsw entirelyop skim that is make daily with unique toppings. The unique thing astir(predicate) stain Slab is the customers’ ability to completely customize their field glass work out the way that they want to eat it. preferably of having a predetermined flavour, customers be able to ripple their flavours of meth ointment that they please and put a numerous amount of toppings on them that implicate Bananas, St roughberries, clams crumbs etc. They call this Mixins. All of this is d unrivalled on a giant sorbet frosty stain slab.marble Slab wishes to give customers a unique visit with a prestigious brand of drinking glass skip. marble Slab puzzle outery Inc. was tack toge at that placed in Houston, Texas in 1983. It was independently owned by franchi check offs across the unify States until 2003 when Canadians were granted permission to make up franchisees in Canada. In 2007, stain Slab thrashery Inc. was purchased by NexCen Brands Inc. Although NexCen owned stain Slab they played a small role in the daily operations of their placements. marble Slab has become cardinal of the fastest growing quick serve restaurants with close 400 locations world widely.Product: Besides premium water touch offer solve that is do daily, Marble Slab alike sells sundaes, milkshakes, ice salve cakes, polar yogurt and to a greater extent(prenominal). Since the ice run down is made fresh at the location it stand die up to 30 days. Every location had an pass of 21 resistent flavours and an endless amount of mixins. And the bells of the products were the alike(p) across any of the locations. Price: The tolls of Marble Slabs products transfigure from as mortified as $4. 95 for an ice cream cone with 1 mixin to a Slab cake for $54. 95 and anything in between.They do admit things that be chea per than the cone with 1 mixin such(prenominal) as brownies, apple pie slices, and regular(a) a charge for extra mixins, all of which argon under $3. 00. Event catering for an answer of at least 200 citizenry de equalityt need 2 employees at a live of $12 per hour, as well as the speak to of supplies and the ice cream itself. Place: There atomic number 18 approximately 400 Marble Slab locations worldwide. With many locations in major Urban and suburban atomic number 18as through with(predicate)out Canada and the United States With a potential location in Vaughn, Toronto seize Area, the Beaches, or Oakville.Promotion: Potential promotional ads in the Toronto Star, instantly Magazine Toronto, Pattison Outdoor and on 104. 5 colleague FM. CURRENT MARKET surround MICRO ENVIRONMENT Indus movement: Trends: The biggest trend in the ice cream industry as of right now is that more(prenominal) than than or less consumers are switching everyplace to a more premium and more expensive ice cream products. An example of this would be the Magnum bar that comes from chocolate import from Belgium, which has become very popular because of their marting campaign.Things such as TV Commercials and celebrity endorsements are the reasons for the achiever of that product. The popularity of impulse ice cream has been decreasing s afternoon teadily since 2007. The reason for this is that people are becoming more health conscience and are not elicit in that type of ice cream anymore. perfect ice creams are becoming very popular. throng are interested in natural flavors with no artificial colours added. muckle like the puzzle out that these products are not genetically enhanced in any way because, as stated before, people are more health conscious.Chocolate, Vanilla, and Strawberry flavours are even-tempered the more or less popular flavours of ice cream. further this does not mean that consumers are not will to try tonic flavours. New flavours are salvage being effectd because they are still happy. Competition: acquit: Cold Stone- Cold Stone is pretty very much an exact replica of Marble Slab. They shooter a premium ice cream with complete customization. They even prepare it on a rimed granite stone. Created over 20 years ago and with over 1,400 investment trusts it is slowly one of Marble Slabs grade competitor.Baskin Robins- Baskin Robins is the strikingst ice cream company in the world. In Canada it has the largest share-of-mind. They serve ice cream, milkshakes, cakes and other products. They are well known for their 31 buffer flavours and their ice cream is known to be of honorable quality. A Baskin Robins kindle be build anywhere from malls to stand alone buildings. It has a large amount of financial resources and is priced analogously to Marble Slab. dairy production line leader- Dairy puff is close to(prenominal)ly known for its famous â€Å"Blizzard” It as well as serves ice cream and milkshakes and cakes.But it likewise sells Hamburgers, Hotdogs, and Sandwiches. Dairy queen also has a similar mixins sen clippingnt that Marble Slap has yet at a cheaper price. They also nates children with children friendly nutriment options. In comport: McDonalds- McDonalds is the biggest restaurant chain in the world. McDonalds has a diet chain in over long hundred countries. They are primarily known for selling Hamburgers and hot up but also fuddle ice cream. The virtually famous of their ice cream meals being the â€Å"McFlurry” Milkshake. McDonalds is a power house and is unstoppable when it comes to promotion of their products.They go past in quick serve for time and are definitely the leaders in the feed grocery store. A po moldive for Marble Slab is the fact that McDonalds isn’t unfeignedly popular for its ice cream products and does not perk up the share-of-mind for that product. Starbucks- Starbucks is known for selling their premium coffee and tea prod ucts. some other thing that they do well is sell a comfortable milieu. It’s a good place for people to hang out and accessibleise with friends and family. However they do not deplete a very large menu and mainly specialize in customized drinks.They also dumbfound a recess market and do not cater to children. wash room Stores- There is thingumabob and grocery stores everywhere that shoot access to ice cream. It’s quick and low-cal to get ice cream at these places and they also have almost every other food choice. They can also choose to discount prices on items. They are good for bargains. Baskin Robins has the Market share of ice cream restaurants. What they and Marble Slab have in jet is that they have the same target market. Marble Slab is more prestigious and expensive. It also has more of a sit down restaurant feel to it.What Marble Slab has make better in terms of its competition is: * great share-of-mind than McDonalds * Caters to a bigger demograph ic than Starbucks, and Dairy Queen * Selling an original product * Having an original mixins concept * Offering a unique experience with the food being alert on a frozen marble slab What Marble Slab has done that is weaker than their competition is: * not as popular as Baskin Robins or McDonalds * much Prestigious product means it will be more expensive * Don’t have the marketing power or financial resources as their competitionConsumer: | Families| Young Adults| Women| Demographic| -A Family with children who are under the age of 15| -Young Adults aged 15- 24| -Women aged 15- 50| Geographic| -Primarily in Urban and Suburban areas| -Primarily in Urban and Suburban areas| -Primarily in Urban and Suburban areas| Psychological| -Parents who are often engaged in family activities- Looking for good quality ice cream. | †People who have their own disposable income -PT, FT, or summer employment| -Health conscious-The primary food purchasers in the household. Do a multitude of food terminations in and out of the house| Behavioural| -Those who enjoy ice cream as a treat and would go to Marble Slab to fulfill their need for ice cream| -Looking for amicable interaction-Impulsive-Limited family obligation| -Looking for some place fast and diffused to get a snack -Impulsive| Suppliers & selling Intermediaries: They get their supply from dairy farmers. Dairy can be quite expensive in the off season. They get most of their fruits and vegetables from farms as well. Also products such as cheese get purchased from factories.All marble Slabs are individually owned so they all have their own means as to where they get their supply. It whitethorn vary fragilely from location to location. Products from the factories and the farms get purchased thencece they will be supplied to each of the Marble Slabs. macro ENVIRONMENT Macro- milieu factors are the major external and contumacious factors that solve an organization’s decision making, and proceed i ts performance and st commitgies. These factors include the economic factors; demographics; legal, governmental and social conditions; technological changes; and natural forces. technological: Technology is another prospect of the environment a steadfastly should consider in developing strategic plans. Changing technology whitethorn tinge the demand for a plastereds products and services, its production processes, and raw materials. Technological changes may create new opportunities for the firm, or threaten the survival of a product, firm, or industry. Technological innovation continues to move at an increasingly rapid rate. The technological aspects of Marble Slab include the technology utilize to create and produce frozen dessert products such as ice cream, frozen yogurt, and milkshakes.Additionally, a new technological trend can be found in companies Investing in ways to create the same sweet taste of frozen desserts, but with less saturated fats and processed sugars. Dem ographic: socioeconomic caliberistics of a population expressed statistically, such as age, sex, education level, income level, marital status, occupation, religion, birth rate, death rate, mediocre size of a family, average age at marriage. A enumerate is a collection of the demographic factors associated with every member of a population.Income level of the cities where doubting doubting doubting Thomas is looking to start the business are extremely populated and people have pretty utmost level of income. The age groups of newborn adults 15-24 are in the range of 2000-35,000. Economic: Economic factors refer to the character and direction of the economic system within which the firm operates. Economic factors include the balance of payments, the state of the business cycle, the distribution of income within the population, and governmental monetary and pecuniary policies. The impact of economic factors may also differ between industries.The economic downturn of 2008 is stil l a heavy factor in the minds of Canadian consumers. Although conditions have improved in the last few years, Canadians still show some amount of botheration financially. This concern materializes into apprehension for luxury and treat items such as ice cream. This raises a slight risk for Marble Slab especially because of their super premium ingredient, and luxury status. Another economical macro environmental factor is the ice cream industry’s exponential influence from the wide fluctuation of dairy market prices.The price of commodities such as cocoa and sugar also vary depending on supply and demand. This plays a direct role in the amount spent on goods. Social/Cultural: The sociocultural dimensions of the environment brood of customs, lifestyles, and values that characterize the society in which the firm operates. Socio-cultural components of the environment influence the ability of the firm to notice resources, make its goods and services, and function within the soc iety. Sociocultural factors include anything within the context of society that has the potential to tint an organization.Population demographics, rising educational levels, norms and values, and attitudes toward social responsibility are examples of sociocultural variables. One of the social aspects discussed in the Marble Slab case study is the rise of the â€Å"healthy-eating” trend. The increased rate of obesity in North America is one of the leading factors in the occurrence of this social trend. This poses a threat to Marble Slab because ice cream is a frozen dessert treat high in calories. This however is combated by Marble Slab’s appurtenance of skimmed frozen yogurt.Ice cream is considered to be a social event in our culture, and the fact that ice cream establishments offer a social environment is a leading factor in why the market holds so much potential for young adults and families with children. Political/legal: The political-legal dimension of the gene ral environment also affects business activity. The philosophy of the political parties in power influences business practices. The legal environment serves to pose what organizations can and cannot do at a extra point in time.One of those most important political factors in the assessment of the macro environmental factors of Marble Slab lies within the Harmonized Sales tax indemnity (HST) that has replaced the Provincial Sales Tax (PST) since July of 2010. The combination of the PST as well as the Goods and Services Tax (GST) indicates a slight raise in the overall speak to of goods and services. This is an important political factor for a sell store like Marble Slab Creamery, because consumers will interpret a noticeable increase of tax.This raises a slight risk they will be discouraged from see luxury or treat stores like an ice cream establishment. Natural environment: An identifiable agent in the physical, cultural, demographic, economic, political, regulatory, or tech nological environment that affects the survival, operations, and harvesting of an organization. Winter Weather in Canada can affect the business. People try to ignore eating cold products in winter. SWOT ANALYSIS Strengths: * Make recent Ice Cream Daily * High timber Ingredients * Customizable Product 21 Flavour of Ice Cream * Fat Free * Greater share-of-mind than McDonalds * Caters to a bigger demographic than Starbucks, and Dairy Queen * Selling an original product * Having an original mixins concept * Offering a unique experience with the food being prepared on a frozen marble slab Weaknesses: * not as popular as Baskin Robins or McDonalds * more Prestigious product means it will be more expensive * Don’t have the marketing power or financial resources as their competition * Not as many locations as competition Not as many flavours as other places like Baskin Robins (32 Flavours) * Not too cheery or those who want fast ice cream * Lots of Substitutes in Market Opportu nities: * Can start to sell their ice cream at public toilet and Grocery stores * Have a take post section, sort of like a drive through * Use Social Media to Advertise * Create more flavours * Increase number of locations * Expanding to other countries * Appealing to price sensitive customers Expand menu so that there are more products than just ice cream (Coffee or Hamburgers. Ex. Dairy Cream, McDonalds) * Focus on give because it can be a great asset if done well * Trent towards healthy eating gives fat-free yogurt sales a boost * Children see ice cream as a treat, and instigate parents to choose an ice cream establishment as a family activity * The lucrative young adults (15-24) market are inclined to visit and ice cream establishment due to its social environment and low costThreats: * Recession * Other companies who want to become more involved with ice cream products * Brand verity to other ice cream companies * Dominant Retailers can sell ice cream for a mass less * I ntense competition from other frozen dessert chains and grocers * Indirect competition from convenience and grocery stores * The dairy industry has a wide fluctuation rate, which directly affects goods prices * Canadians are concerned roughly the dip in the American economy. Other competitors such as Baskin Robins and Cold Stones have the financial resources to provide strong promotion, and can keep their prices on par with Marble Slab * Other competitors have products similar to Marble Slab’s â€Å"mixins”, such as Dairy Queen’s â€Å"Blizzard” or McDonalds â€Å"McFlurry” * Other food establishments have the advantage of supplying their products through grocers job and Issue Analysis The major issue is deciding the location, because all the expenses tie in to promotion and pricing decision depend on the location.Some locations have different backing and leasing whereas others have target market issue. Every wiz decision to be made depends o n the location where Thomas would like to start the business. Marketing Objectives Marble Slabs Marketing objectives are: -To have a successful promotional plan for the grand opening of the store and meeting the revenue goal of $400,000 in the early year. -To have promotional costs of $10,000 for the grand opening. -To have a 20% ROI on our catering events every year. Marketing StrategiesLocation is defined as the major line as every single thing related for operations depends on location. Looking over the census information for the locations, Oakville is the most suitable option, the reasons are as follows: †1- Median household income is the highest for Oakville 2- There are grand amount of target market in Oakville 3- rigid near the lake, could be considered as picnic ghost 4- There is little direct competition buying power is the most important, because if the consumer has low disposable income then they won’t have that curiosity to spend.Oakville has the highest median(a) income. 13,245 young adults live in Oakville. Ample of target market are present in Oakville, Thomas should work on 80 20 rule, where 20% of consumer make 80% of the revenue. There is little direct competition; this gives Thomas to act as the market leader in Oakville. There is some confirming competition from the grocery stores but that won’t affect the sale to a major extent. Thomas has to introduce fat free ice cream, because most of the consumers are health conscious.To achieve the objectives Thomas has to try as hard as possible to bear on the budget. There are a lot of expenses that come with the opening of a business. She must abbreviate her time and money on the proper advertisement. I think one of her best bets in that military position would be to have a commercial on 104. 5 Chum FM during driving time because I imagine that that will reach the most people. Also if she is to go into catering I believe that the best option for her to use is the porta ble slab option. It caters to the most people and the whole Marble Slap experience to the customers\r\n'