he instructions for the assignment are attached. This is a continuation of the paper that you wrote for me last week. I added some additional notes from the class/professor in purple. Thank you!

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JFK Moon Speech

JFK’s Moon Speech, as presented by the Festival of Curiosity (festivalofcuriosity.ie) during Rick O’Shea’s panel on JFK’s space legacy on 17 July

https://www.youtube.com/watch?v=th5A6ZQ28pE

BHAG

Big Hairy Audacious Goal

VISION STATEMENT

Ke

Keith Thurgood

_{8:16 PM}

• Project five to 10 years in the future.
  • Dream big and focus on success.
  • Use the present tense.
  • Use clear, concise and jargon-free language.
  • Infuse it with passion and make it inspiring.
  • Align it with your business values and goals.
  • Have a plan to communicate your vision statement to your employees

Alzheimer’s Association Vision Statement:

A world without Alzheimer’s disease

One day, all children in this nation will have the opportunity to attain an excellent education

Microsoft Vision Statement:

A computer on every desk and in every home

Ke

Disney Vision Statement:

To entertain, inform and inspire people around the globe through the power of unparalleled storytelling, reflecting the iconic brands, creative minds and innovative technologies that make ours the world’s premier entertainment company

bad morning?

https://www.youtube.com/watch?v=irCDmIzGd1M

***Very often confuse activity with results. Stay focused. Don’t want to be working for 2 years with your head down, to realized you were working on the wrong task. Scrapping the wrong car.

statista

Ke

Bizminder

SBA

McDonald’s market segmentation strategy

https://www.youtube.com/watch?v=-z-RWTvckkI

Target to Marketing Persona

4-6% of all coupons are redeemed nationally

60% coupons are redeemed at Kroger. Personalized marketing.

Aggregate or Personalized Data by companies when using loyalty cards

ROI

Market Segmentation

***Demographic Segmentation – Age, Income, Nationality, Zip Code, Gender, Family Status, Income

You are going to market where people can afford your goods and services

Behavioral Segmentation – Divides by the market by behavior and decision. Purchasing lifestyle. Not buying snowmobiles in Florida. Behavior might be more abrasive in New York.

Psychographic Segmentation – Takes into account the psychological – personality, values, opinions. Love in NY – Democratic. Texas – Republican.

Chapter 2 – Looking at market – Most information should come from Demographic

segment, target, position

How & Why Segment Market – More specific better.

ANSWER

Business Plan: Sweet Treat Stores

Industry Description

The Global Cookie Industry keeps growing in terms of market size, share, CAGR, and revenue. The value of the cookie market as of 2018 was $30.62 billion (MarketWatch, 2020), with an expansion and growth estimate of 7.37% CAGR within 2020-2025, as illustrated in Figure 1 (Mordor Intelligence, 2020). The growth and expanded market share are perceived through the increasing market entrants such as the cafés that have boosted the cookie industry and market globally as they offer accompaniments such as hot beverages (tea and coffee). Increasing market trends include market players enticing consumers with unique and new cookie flavors as well as innovative packaging to maximize their competitive advantages. Moreover, the shift among many people into healthy lifestyles provides market players such as STS business an opportunity to provide healthy cookies with fresh, locally sourced ingredients while maintaining low sugars, gluten-free, low calories, high fibers, and low carbs cookie types (Mordor Intelligence, 2020).

This provides an advantage, as the health-conscious consumer market is growing steadily, and the need for homemade cookies that feel like a second home within the first bite will equally rise. The increase in income among people and the overall economic improvement are factors behind the rising trend and demand for cookies with the younger population and generation increasingly inclined towards the high demand and purchase of cookies.

Figure 1: Summary (Mordor Intelligence, 2020)

The global cookie market is segmented into the types, packaging, and distribution channel (online and brick and mortar) segments. Sweet Treat Stores (STS) inclines within the type segment specializing in a broad range of homemade cookies. Key players and competitors in the cookie industry include Mondelēz International, Private Label, and Kellogg as illustrated in Figure2 below (Mordor Intelligence, 2020). These companies rely on diverse and unique cookie flavors, formats, and innovative packaging to maintain competitiveness. STS expounds on the quality and flavors of homemade cookies, each cookie type focusing and aligning with the target market. The growth and expansion of STS domestically (within USA) integrates transnational strategy, whereby products are glocalized depending on target audience and needs. Distribution channels include both online and brick and mortar stores to accommodate all possible customers in this digitalized and technologically advanced era. Services provided to customers include both indoor and outdoor services to share and deliver happiness and sweetness at the comfort of their homes through the website, and mobile application developed. This maximizes local responsiveness and enhances competitive advantage.

Figure 2: Competitor Market Share

Target Customer Analysis

Target customer analysis involves studying the potential customer and market niche that business targets to sell products and provide services. Having the knowledge of potential customers including their age, income, gender, personality, and purchase behavior helps STS tailor its products and marketing strategies that communicate the appropriate message regarding various cookies to specific target audiences. STS categorizes its market into four segments: demographic segment, psychographic segment, geographic segment, and behavioral segment  (Gichuru & Limiri, 2017). Overly, STS targets individuals, families, corporate workers (executives, employees, for corporate functions), and people seeking to bestow a cookie package upon their loved ones. The table below outlines the essential aspects of the target customers.

References

Gichuru, M. J., & Limiri, E. K. (2017). MARKET SEGMENTATION AS A STRATEGY FOR CUSTOMER SATISFACTION AND RETENTION. International Journal of Economics, Commerce and Management, Vol V(12), pp: 544-553. http://ijecm.co.uk/wp-content/uploads/2017/12/51231.pdf.

MarketWatch. (2020, July 15). Global Cookies Market Top Countries Data 2020 Analysis by Industry Trends, Size, Share, Company Overview, Growth, Development and Forecast by By 360 Market Updates. Retrieved from https://www.marketwatch.com/press-release/global-cookies-market-top-countries-data-2020-analysis-by-industry-trends-size-share-company-overview-growth-development-and-forecast-by-by-360-market-updates-2020-07-15

Mordor Intelligence. (2020). COOKIES MARKET – GROWTH, TRENDS, AND FORECAST (2020 – 2025). Retrieved from https://www.mordorintelligence.com/industry-reports/cookies-market