Dunkin Donuts Coffee marketing plan is a document written to describe the company’s marketing strategy and the current marketing position for the period covered by the plan. Its main purpose is to outline steps that a business should take to achieve its marketing objectives. The paper will discuss five questions in the development of Dunkin Donuts Coffee marketing plan.
Dunkin Donuts Coffee company is currently facing stiff market competition from Starbucks company that sell similar products to that it sells. The two companies have been competing to dominate the industry. The two dominate about 60% of the coffee market. In particular, the Starbucks company hold about 36% of the market share while Dunkin Donuts holds roughly 24%. Besides coffee and doughnuts, Starbucks company sells about 2,000 other products. Some of its complementary products include bagels, hot and iced beverages, and other baked goods. These products have different sales margin, value, demand, timescale, and profit hence they act as a close substitute for doughnuts and coffee.
The present state of the economy is at boom because demand in the economy is high hence consumers spending is high. The doughnuts and coffee’s consumers buy more products resulting in an increase in the company’s sales. This calls for an increase in production to meet the high demand. Thus, consumers impulsively buy my product that in turn increases consumption rate. In reference to table 3.2 and 3.3, import or export regulatory agencies can come up with jurisdictions over my product. This because these agencies can either encourage or discourage export depending on the country’s demand and economic state.
Use of technology in the production process, transportation, and marketing has improved the value of my products. Technologies such as SPX have enhanced coffee production since the technology is used to produce a variety of food and beverages that substitutes coffee and doughnuts. Moreover, technology such as freeze drying technology improves the quality of beverages by increasing the sales and use of products. Change in social attitude can either result in a decrease or an increase in product consumption. For example, if the social attitudes are in favor of the product then, consumption rate will increase. Change in lifestyle can also affect my products. For example, if the lifestyle is high then, the purchasing power will decrease since the consumer will either opt to do away with the product or buy close substitutes such as tea that is relatively cheap.