Describe the company you chose. Who is its target market, and what are the elements of its marketing mix? – I chose Dairy Queen to conduct my SWOT analysis, which categorizes under fast food restaurants that serve ice cream and confectionery treats, targeting mainly families with kids and young adults. The elements of its marketing mix vary from season to season in a year to the right
location.
The demand for ice cream increases during the summer because consumers value ice cream treat on a hot, humid sunny day. The prices are then set above the equilibrium price to profit the business and, at the same time, serve quality ice cream. DQ is a very family-oriented and clean place to sit and eat ice cream, a genuine flavor that is probably nostalgic to many, related to childhood memories. Thus, it increases the value of the product plus builds a strong relationship with families with kids. The ice cream treats have many fancy names and new blends or products to attract target customers like children who like to try a new and fancy named product. Dairy Queen ice cream can easily be spotted on highways, near beaches, and malls, a perfect location for the targeted customers.
List at least two items in each of the SWOT categories: strengths, weaknesses, threats, and opportunities. You may call on your personal experiences, but you may also need to do some quick research about your company’s industry. Be sure to consider threats and opportunities related to foreign markets and/or competition.
DQ SWOT: Strengths - a product known for quality taste and fancy name products.
-
Most adults with children know this product, nostalgic memories(value)
Weakness -Not globally recognized like Mc Donald’s.
-
Only serves ice cream and sweets.
Threats -Season of the year affects sales, e.g., during wintertime, less demand.
-
Cheaper ice cream treats from big fast-food chains like Mc Donald’s.
Opportunities -
Offer online orders due to the pandemic crisis.
-
Offer promotion
for buying the first two ice cream with free delivery.
