Flavors of Marketing: A Comparative Study of 4P Strategies in Haagen-Dazs and Ben & Jerry's Ice Cream Brands

Executive Summary

The marketing mix consisting of 4P strategy is one of the essential factors or methods that helps a business to identify the best position or method for promoting products. "Haagen-Dazs Ice cream" and "Ben and Jerry's Ice cream" are two most popular and recommended Ice cream brands. The report will analyze and discuss the 4P marketing strategy of both the brands using the relevant data from different websites and journals. It will then evaluate which brand is best according to the analysis of 4P used in marketing. The recommendation will also be discussed regarding how both the brands can improve the utilization of 4P marketing strategy in business. The primary objective of the report is to discuss the different segments of 4P using the comparison between the two brands.

Introduction

The marketing mix is one of the essential methods that is utilized by the company to promote the list of its products or services. It is divided into four different parts like the place, promotion, price and product. The primary aim of the report is to evaluate and compare the 4P strategy of the two different companies like "Haagen-Dazs-ice-cream" and "Ben and Jerry's ice-cream". "Ben and Jerry's ice cream" is one of the leading ice cream brands with a total market share of 8.7% all over the United States. The "Haagen-Dazs ice cream" on the other hand is having a total market share of 8.4% in the United States. The report will analyse the marketing strategy of both the organization based on the products and the price that is offered for each of its including the target audience also.

Research Methods

The study or the research will be conducted using the secondary data taken from the websites and also through journals. The reason for using this method is that it will provide accurate data related to both the companies for comparison of the marketing mix (Madhani, 2017).

Findings

Comparison of Target Markets

The marketing mix using a 4P strategy is considered to be one of the essential methods that help the business to decide about successful product offerings considering the target audience as an essential factor.

The 4P of the marketing mix can help the brand to understand which area or place is perfect for an individual product. It is denoted as Place, Price, Promotion, and Product. In the study the 4P concept will be used for comparing two different brands that are “Ben and Jerry’s Ice cream” and “Haagen Daz’s Ice cream”. The marketing mix of the brands that are chosen for the study is done in this section of the report. The primary objective of it is to compare and contrast the marketing strategy for both the brands that are selected for the study.

Recommendation

The recommendation that can be provided to “Haagen-Dazs Ice cream” is to include celebrity too in its business promotion as it will enhance the success rate of any product. The price offered by the company is good, but it must be quite appreciative so that the customer can be considered and use it. The times when there is an economic crisis, then an individual always search for the cheapest store or brands. Therefore, if the cost of ice-cream will be high then it can reduce the competitive advantage of a business. Therefore, “Haagen-Dazs” must improve the promotion and price strategy followed using 4P marketing strategies. The only recommendation that can be provided to the “Ben & Jerry’s Ice cream” brand is that the company must provide a coupon facility to every shop all over the world so that it can have a more customer rate throughout the globe (Wirtz and Lovelock, 2016).

Conclusion

The 4P marketing strategy is one of the essential methods or factors that helps the company in getting a better market position and provides an efficient future. It is found from the analysis that both the brands have efficiently applied the 4P marketing strategy for the business. The brands like "Haagen-Dazs" and "Ben & Jerry's Ice cream" identify the competitors and then decide the strategy using 4P from advertising to the selling of products. The brands have used the factors of 4P to decide which area or place can provide better profit and which can be more beneficial for marketing. The "Ben & Jerry's Ice cream" is considered to have utilized 4P more efficiently as compared to the "Haagen-Daz’s Ice cream”. It is because "Ben & Jerry's" considered to be the price of any product as the most successive factor and for this reason they keep the price at a lower rate for some of the ice cream flavors.

The "Ben & Jerry's Ice cream" also follows a better-promoting strategy as compared to the other brand "Haagen-Dazs Ice cream”. They considered promotion to be the key factor for the business and people would always love to use products suggested by their favorite celebrities. Hence including celebrity-promotion is one of the key decisions taken by the business for getting a better customer satisfaction rate. Thus it can be concluded that if the business continues to utilize 4P marketing strategy in the business, then it can provide better growth and opportunities in the future.

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Reference List

Book

Wirtz, J. and Lovelock, C., 2016. Services marketing: People, technology. Singapore: World Scientific Publishing Company.

Journal

Madhani, P.M., 2016. Sales and marketing integration: Enhancing competitive advantages. The IUP Journal of Business Strategy, 13(4), pp.50-77.

Madhani, P.M., 2017. Logistics and marketing integration: enhancing competitive advantages. The IUP Journal of Management Research, 16(3), pp.7-29.

Matsuki, R.K., Syah, T.Y.R., Indradewa, R. and Pusaka, S., 2019. Implementation Marketing Mix Strategy in the New Frozen Food Business: Nugget Duck-Durkan. Journal of Multidisciplinary Academic, 3(3), pp.6-10.