An Evaluation of Marketing Strategies

Added on - 27 May 2021

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Running head: BUSINESS RESEARCHAn Evaluation of Marketing Strategies Impacting the Profitability of Jeni’s Splendid Ice CreamCompany in the USAName of the Student:Name of the University:Author note:
1BUSINESS RESEARCHTable of Contents1. Introduction..................................................................................................................................22. Problem statement.......................................................................................................................33. Aim and objectives......................................................................................................................34. Research questions.......................................................................................................................45. Justification and potential output of the research........................................................................46. Conceptual framework and hypothesis development..................................................................56.1 concepts on marketing strategies and its importance............................................................56.2 Types of marketing strategy..................................................................................................66.3 Key factors for increasing profitability..................................................................................86.4 Hypothesis development........................................................................................................97. Methodology................................................................................................................................97.1 Research approach and data sources......................................................................................97.2 Proposed data collection and analysis techniques...............................................................107.3 Organization of the study.....................................................................................................127.4 Project budget......................................................................................................................127.5 Project activities and schedules...............................................................................................13References......................................................................................................................................15Bibliography..................................................................................................................................18
2BUSINESS RESEARCH1. IntroductionMarketing strategies are an essential part of the business for any product or servicecompany. According to Fifield (2012), marketing strategy refers to the concept of long term andforward looking approach in marketing goal and objectives that aims to achieve a sustainablecompetitive advantage in the market. The market oriented research, observations, information,analysis and plan formulation are all important components of strategic planning and strategiesare formulated to implement those plans for successful marketing. As stated by Baker (2014),marketing strategy lays out the plan for creating value proposition to the target market, based onthe best opportunities available in the market. All the product or service companies need to makeand implement marketing strategies to establish its position in the market, which also helps inearning profit. In line with this context, the topic of the project is to evaluate the impact of themarketing strategies of Jeni’s Splendid Ice Cream Company, USA on its profitability.Jeni’s Splendid Ice Cream Company is one of the most popular ice cream companies inthe USA that has total of 26 stores across 6 states, along with retail distribution nationwide(Jenis.com, 2018). Similar to other ice cream companies across the country, Jeni’s has alsointroduced various marketing strategies since its establishment in 2002. Even though thecompany has only 26 stores, it has managed to make a successful name for itself in the ice creamand novelties market. It can be assumed that with successful marketing strategy and delivery ofsuperior quality products have contributed in increasing the profitability of the company. Thepurpose of the study is to examine the effect of marketing strategies on the profitability of thecompany and the purpose of this assignment is to present a project proposal to fulfill the purposeof the study.
3BUSINESS RESEARCHThe organization of the assignment is as explained. Section 1 introduces the projectproposal to the readers, followed by the problem statement, aim and objectives of the research,research questions in sections 2, 3 and 4 respectively. Section 5 presents justification of theresearch and potential outcomes. In section 6, conceptual framework and development ofhypothesis will be described. Lastly, section 7 will present research methodology, projectactivities, proposed budget and timeline or Gantt chart.2. Problem statementMarketing strategy refers to the plans of the marketers to make segments in the market,targeting and positioning of a particular product or service. A successful marketing helps theproduct or service gain a status in the market, which gets reflected in their sales revenue andprofit (Armstrong et al., 2015). An effective marketing strategy can contribute in building abrand image for a company. However, profitability of a brand can be affected due to manyfactors, including marketing strategy. The focus of this project is to study how the marketingstrategies used by Jeni’s are influencing their market share and profitability by creating value forthe customers.3. Aim and objectivesThe aim of the report is to examine the impact of the marketing strategies on theprofitability of a company. The report will focus on the marketing and business activities ofJeni’s Splendid Ice Cream Company, USA. The analysis would explore the data on the last 5years revenue of the company.The objectives of the project are:
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