Cold Stone (5)

TERM PAPER

OF

MARKETING

SUBMITTED TO: COMPILED BY:

KANWAL GURLEEN VINEETH BBA/MBA”C”

REG NO: 3020070239

ROLL NO:33

“ CONTENTS ”: ACKNOWLEDGMENT

EXECUTIVE SUMMARY

OVERVIEW OF COMPANY

PRODUCTS MARKETING MIX NEW DEVELOPED PRODUCT

S.T.P PLC PROMOTIONAL PLAN AND DISTRIBUTION OF THE PRODUCT.

EXECUTIVE SUMMARY:

The following term paper describes the product range and the promotional plan of “cold stones creamery”. It describes the overview, marketing mix , promotional plans of the company. Cold stones creamery is a ice-cream manufacturing company producing various ice-cream based products all over the globe.

OVERVIEW:

COLD STONE CREAMERY’s ARE THE MAJOR PRODUCER OF ICE-CREAM,AND MILK PRODUCTS IN INDIA.ESTABLISHED IN 2005

COLD STONE HAS OPENED 200 OUTLET’S ALL OVER INDIA AND ABROAD WITH THE NAME:”GELETINO”.IT HAS SEVEN MANUFACTURING PLANTS ALL OVER INDIA AND IS ALSO THE SAFEST ICE-CREAM

MANUFACTURING PLANT.

THE P’s OF MARKETING:

THE 4P’s ARE DIVIDED FURTHER INTO

PRODUCT

PRICE

PLACE

PROMOTION

VARIOUS OTHER FEATURES LIKE VARIETY, BRAND,QUALITY,SIZE,DISCOUNT, SALES, ADS CHANNELS,LOCATIONS,COVERAGE .

THE COMPANY:COLD-STONE CREAMERY.

THE COMPANY MASCOT:CREAMY-COW.

THE FOLLOWING DESCRIBES THE

MARKETING STRATEGY OF “COLD

STONES”WITH RESPECT OF THE 4P’s DURING ITS INTRODUCTION,

GROWTH, MAJORITY AND DECLINE.

THE P’s DURING INTRO.:

(a).PRODUCT:”COLD STONE” CAME UP WITH TWENTY TYPES OF ICE-CREAM FLAVOURS WHICH WAS UNIQUE IN ITSELF.APART FROM THE REGULAR VANILLA,STRAWBERRY,CHOCOLATE FLAVOURS COLD STONE MADE GREEN APPLE,BANANA,PINEAPPLE,MIXED FRUIT BASED FLAVOURS WHICH WERE INSTANT HIT WITH THE CUSTOMERS.ALSO THEY FOUND IT TO BE MORE CREAMIER,SOFTER THAN THE OTHER ICE-CREAM BRANDS AVAILABLE.APART FROM THE NORMAL CUPS,SCOOP,CONES .THEY MAKE A SPL. SUNDAE CALLED :”COCO-BROWNIE”WHICH IS THE MOST FAMOUS PRODUCT OF COLD STONE.ALSO “FRUIT STICK” MADE FROM FRUIT JELLY IS QUITE HIT WITH THE KIDS.

IT INCLUDED CONES,STICKS,ICE-CREAM BRICKS,FAMILY PACK AND SPECIAL SUNDAE PACK AVAILABLE IN 5OOML,1L,2L PACK.

(b)PRICE:THE INTRODUCTORY PRICES WERE VERY REASONABLE.THEY WERE VERY LOW AS COMPARED TO THE ESTABLISHED BRANDS.ALSO TO MAKE A GOOD REPUTATION COMAPNY CAME UP WITH OFFERS LIKE “BUY 1-GET 1”,”RS.10 OFF ON THE PURCHASE OF 1L PACK”,”BUY 2L PACK AND GET 5OOML PACK FREE”.IT HELPED THE FIRM TO GET THE RIGHT START.THE “COCO-BROWNIE”AND FRUIT STICKS THE MOST FAMOUS ITEMS ARE THE MOST EXPENSIVE PRODUCTS OF COLD STONE.

(c).PLACE:COLD STONE CREAMERY’S STARTED WITH 2 MANUFACTURING PLANTS AND 5 OUTLETS IN MAJOR CITIES.THE

LOCATIONS WERE ALL URBAN AREAS.”GELETINO”IS THE NAME OF ICE-CREAM PARLOURS THEY HAVE OPENED ALL OVER INDIA AND ABROAD.THE PLACES INCLUDED EXOTIC MALLS,COMMERCIAL AREAS,HOLIDAY SPOTS ETC.

(d)PROMOTION:THE PROMOTIONS WERE DONE MAINLY THROUGH T.V. AND NEWSPAPERS.THE COMPANY INVESTED HUGELY IN IT LIKE OPENING OUTLETS,BANNERS,ADS BY CELEBRITIES ETC.OUR BRAND LOGO NAMED”THE CREAMY-COW”WAS ALSO A ATTRACTING POINT FOR THE KIDS.

P’s DURING GROWTH:

(a)PRODUCT:THE GROWTH OF COMPANY

WAS REALLY FAST.BUT THE EXPANSION DID’NT AFFECTED THE TASTE AND QUALITY OF PRODUCT.

THEY INTRODUCED VARIOUS OTHER MILK PRODUCTS APART FROM ICE-CREAM LIKE MILK BASED DRINK,NEW ICE-CREAM BARS.THERE “COCO-BROWNIE”AND “FRUIT STICKS”WERE STILL POPULAR AND HAD THE SAME FRESHNESS IN TASTE.

(b)PRICE: THE PRICES WERE A BIT RAISED SEEING THAT THE REGULAR CUSTOMERS WERE NOT REDUCED WITH HIKE IN PRICE.STILL THE OFFERS WERE AVAILABLE WITH SOME PRODUCTS AND THEY ALSO PROVIDED VARIOS SCHEMES DURING FESTIVE SEASON.THERE NEW PRODUCTS WERE CHEAPER.

(c)PLACE: THE OUTLETS WERE EXPANDED WITH MORE SPACE AND AT VARIOUS NEW

LOCATIONS ALL OVER INDIA AND ABROAD.THE OUTLETS WERE BUILD WITH VARIOS THEME AND SMALL PLAY GROUND NURSERY FOR THE KIDS WHO CAME TO THE SHOPS.

(d)PROMOTION: THE MAJOR MEDIUM FOR PROMOTION WERE STILL THE ADS,PAPERS ETC.WITH GROWTH THEY ROPED IN BIG NAMES FOR AD CAMPAIGN.BUT THERE MAJOR PROMOTION WERE DONE BY THE SATISFIED CUSTOMERS THEY HAD.

P’s DURING MATUARITY:

(a)PRODUCT: THEY BOUGHT A NEW TREND IN ICE-CREAM DURING THE MAJORITY PERIOD.THEY INTRODUCED “DISNEY-THEME”BASED ICE-CREAMS KEEPING IN MIND THE CRAZE FOR ANIMATIONS AND FICTIONS IN KIDS .THEY INTRODUCED 5 NEW FLAVOURS

WITH BRAND NAME:”CREAM-DISNEY”. THEY INTRODUCED NEW LOW-FAT, CALORIE FREE ICE-CREAMS KEEPING IN MIND THE ADULT CUSTOMERS.

(b)PRICE: THE PRICES OF THE PRODUCTS WERE THE SAME.NEW PRODUCTS WERE LAUNCHED WITH VARIOUS NEW SCHEMES.FREE DISNEY TOYS,GIFT HAMPERS,FREE ICE-CREAMS WERE ALSO GIVEN TO LUCKY WINNERS.

(c)PLACE: THE OUTLETS WERE RENOVATED WITH NEW COLORS,TEXTURES.THE OUTLETS WERE EXPANDED TO 150 ALL OVER THE WORLD.ALSO THEY OPENED OUTLETS ON HIGHWAYS AND IN CITIES WITH 24 HOURS SERVICES,PETROL PUMPS,ATMS AND MEDICAL SHOPS.

(d)PROMOTION: WITH BEING IN MAJORITY THEY MAINLY FOCUSED ON THE

SATISFACTION OF CUSTOMERS.THEY INNOVATED THE OUTLETS AND PLACED THERE MASCOT”CREAMY-COW”OUTSIDE THEM.THEY CAME UP WITH NEW ATTRACTIVE PACKS FOR ICE-CREAMS WITH TOON PICS, COLOURS AND NEW ADVERTISEMENTS.THEY INTRODUCED FAMILY PACKS WITH 3 CATEGORIES:”TAKE AWAY PACK”;”EAT IT;“DOUBLE TREAT PACK”.THEY WERE HANDY AND EASY TO CARRY.

P’s DURING DECLINE:

(a)PRODUCT: DURING THE DECLINE THE COMAPNY CAME UP WITH IDEA OF A 2 NEW PRODUCTS:”FRUIT-FUDGE” A MIX FRUIT BASED ICE-CREAM AND “JELLY-BELLY”ICE-CREAM MADE FROM JELLY AND VANILLA ICE-CREAM.THEY ALSO STARTED HOME-DELIVERY OF ICE-CREAMS.

(b)PRICE: PRODUCT PRICES WERE SLASHED AND SCHEMES WITH DISCOUNTS, FREE GIFTS WERE FIXED FOR ALL MAJOR RODUCTS.THEY ALSO MADE HOME DELIVERY FOR FREE OF COST.

(c)PLACE: THE OUTLETS WERE OPENED IN ALL MAJOR MALLS, COMMERCIAL AREAS WITH BETTER FACILITIES AND LOCATIONS ACCESSIBLE TO ALL PEOPLE.

(d)PROMOTION: THE PROMOTIONAL EVENT WAS IMPROVISED MORE WITH NEW PACKS AND

PRODUCTS.MORE BANNERS AND NEW ADS SHOWING CARTOON CHARACTERS AND TOYS WERE INTRODUCED.THE NEW OUTLETS WERE DECORATED

AND PLAY NURSERY WITH RIDES WERE BUILD IN VARIOUS OUTLETS.THEY CAME UP WITH A NEW

SLOGAN”DREAM-CREAM WORLD” AND SHOWED THAT THEY HAVE THE SAFEST

MANUFACTURING PLANT WITH INTERNATIONAL TECHNIQUES AND QUALITY.THEY ALSO IMPROVISED

THE TASTE AND FLAVOURS.

THE COMPANY HAD ADOPTED VARIOUS MARKETING PLANS AND

MIXS TO PROMOTE THERE PRODUCTS IN MARKET.IT MAINLY

FOLLOWS :

BANNERS, ADVERTISEMENTS, DISCOUNTS, GIFTS ETC.

ALL THE PROMOTIONAL CAMPAIGNS ARE MADE KEEPING IN MIND THE TASTE AND PREFERENCES OF KIDS.THE COMPANY MAINLY FOCUSES ON THE SELF SATISFACTION OF YOUNG CUSTOMERS SO THAT THEY FORCE THERE PARENTS TO BRING THEM AGAIN AND AGAIN TO OUR ICE-CREAM SHOPS.

THE PROMOTIONAL MIXS:

THIS WAS THE FIRST LOGO USED BY THE COMPANY TO PROMOTE THE ICE-CREAM BRANDS ALL OVER INDIA AND ABROAD.THE COMPANY USES””PRODUCT AND MARKET SPECIALIZATION “TECHNIQUE TO STAY IN THE MARKET.THE COMPANY’S SUCCESS HAS BEEN MAINLY DUE TO CUSTOMER SATISFACTION THE LARGE VARIETY THEY PROVIDE TO THEM.

PRODUCTS AND PROMOTION:

“COLD STONE” CAME UP WITH TWENTY TYPES OF ICE-CREAM FLAVOURS WHICH WAS UNIQUE IN ITSELF.APART FROM THE REGULAR VANILLA,STRAWBERRY,CHOCOLATE FLAVOURS COLD STONE MADE GREEN APPLE,BANANA,PINEAPPLE,MIXED FRUIT BASED FLAVOURS WHICH WERE INSTANT HIT WITH THE CUSTOMERS.ALSO THEY FOUND IT TO BE MORE CREAMIER,SOFTER THAN THE OTHER ICE-CREAM BRANDS AVAILABLE.APART FROM THE NORMAL CUPS,SCOOP,CONES .THEY MAKE A SPL. SUNDAE CALLED”COCO-BROWNIE”WHICH IS THE MOST FAMOUS PRODUCT OF COLD STONE.ALSO

“FRUIT –STICK”MADE FROM FRUIT JELLY IS QUITE HIT WITH THE KIDS. COCO-BROWNIE, COLD ROCK ARE

THE MOST FAMOUS PRODUCT OF COLD STONES :

COLD STONES’S FIRST EVER SHOP:

THIS WAS THE FIRST SHOP OPENED IN INDIA, SINCE THEN IT AS OPENED 200 SHOPS ALL OVER THE WORLD. IT INCLUDED

CONES,STICKS, ICE-CREAM BRICKS,FAMILY PACK AND SPECIAL SUNDAE PACK AVAILABLE IN 5OOML,1L,2L PACK AT AFFORDABLE COST.

COMPANY’S NEW LOGO:

THE COMPANY MODIFIED THERE LOGO TO A NEW ONE TO SUIT NEW CUSTOMERS AND ALSO MODIFIED THERE OUTLETS ALL OVER WITH NEW LOOKS, PLAY SCHOOLS FOR KIDS,CARTOONS ON THE WALLS.

PRODUCT VARIETY AND SALES PROMOTIONS:

All ice cream creations are offered in three sizes: "Like It" (5 oz), "Love It" (8 oz), and "Gotta Have It" (12 oz). There is also a kids' size (3 oz).

"Cold Stone Originals" are recipes that include the ice cream and mix-ins of any given "Signature Creation” .Customers may also choose to alter the Signature Creation if they prefer by substituting the ice cream it is made with, or one or more of the mix-ins. If a customer does not want a Signature Creation, he or she may choose his or her own tailor-made ice cream creation by picking both the ice cream and "mix-ins". Customers have a selection of waffle bowls or cones, either plain, dipped in chocolate, or dipped in chocolate and sprinkled with shredded

coconut, peanuts, almonds, or rainbow sprinkles to put their icecream in.

Cold Stone offers a variety of smoothies , shakes and signature cakes. All of Cold Stone's ice creams (including milkshakes made from their ice cream) excluding the "sinless fat-free ice-cream" and sorbets contain low fat.

VARIOUS ICE-CREAMS OF COLD STONES (company tools):

THE 5 M’s IN THE PROMOTION:

1. MISSION: Includes the mission to aware the people about the products. making them know about the product.

2. MONEY: It includes the monetary help needed to raise the money for promotion, marketing.

3. MESSAGE:awareness,advertisements,informing about the product, social responsibility review.

4. MEDIA: To reach to the public by the medium of media like ads, banners,tv,newspapers for mass informations.

5. MEASUREMENT :It measures the channels of communications to the customers.the plans to implement the promotions.

PROMOTION

An effort by marketers to inform and remind people in the target market about products and to persuade them to participate in the exchange

PROMOTION MIX.

Marketing mix is part of your marketing plan. It defines product, place, price and promotion. The promotion mix targets raising product or brand awareness, communicating the unique value proposition of your product and gaining acceptance of your products. The primary purpose and focus of promotional mix is to get the desired result: the sale of your product.

Four basic types of promotion

Personal selling Advertising Sales promotion Public relations

Personal selling is one of the most common of the promotion tactics. Most companies will hire people to do the selling: sales representatives, account managers, inside sales representatives, retail sales, sales agents, or telemarketers. Face-to-face selling is one of the most common methods of selling, although sales by phone, and more recently, sales by email, are becoming well used. These are not necessarily as effective, but they are low cost sales tactics..

Steps in the Selling Process

START

Approach

Ask questions

Make presentation

Close sale

Follow up

Advertising is another common promotion tactic. Advertising focuses on brand recognition and identity; not on the product alone. Advertising can be a costly tactic that only the big businesses can invest in; particularly advertising on television which can cost anywhere from $100,000 to over $1 million for a national broadcast in prime time (for a 30-second spot!). This cost is in addition to the cost of producing the commercial. Advertising in industry or consumer magazines is less expensive and typically you can target your advertisement to a specific industry or region.

Coupons: THE COMPANY OFFERS COUPONS IN THERE PRODUCTS TO ALLOW DISCOUNTS,FREE GIFTS,FUN PRIZE,SURPRISE GIFTS AND OTHER OFFERS

SATISFIED KIDS IN COLD STORE ENJOYIN THERE ICE-CREAM:

CONCLUSION:THE COMPANY HAS BEEN PROMOTING IT’S PRODUCTS AND CREATING SINCERE EFFORTS IN THE MARKETING OF THERE PRODUCTS.THEY HAVE BEEN INVOVLED IN VARIOUS MARKETING TECHNIQUES TO INTRODUCE NEW PRODUCTS IN THE MARKET

THEY HAVE BROUGHT MANY PRODUCTS TO ATTRACT THE CUSTOMERS WITHOUT COMPROMISING THE TASTE AND QUALITY.THE PLC AND THE MARKETING MIX HAVE RESULTED IN THE GROWTH AND SUCCESS OF “COLD STONE CREAMERY”.