Market needs
All marketing efforts should be based on underlying consumer needs. Fast food meets a market need for a quick and convenient way to get breakfast on the way to work, or a snack during short lunch break (Kotler & Keller, 2007). According to market analysis, most customers drive to restaurants which require offering a drive-up window for their convenience. Dunkin’ Donuts has positioned itself as a quick stopover for customers to have great beverages and snacks. There is a growing trend of people adopting healthier lifestyle by avoiding high sugar or calorie foods. Dunkin Donuts should consider offering healthy foods in its product portfolio to satisfy the needs of this market. The company’s target market is typically made up of females and males ranging in age from 18-45. According to company’s statistics, these are the people who drink coffee most. In response to this, the company has devised campaign with the goal of increasing coffee sales.
Market growth
Dunkin’ Donuts recently announced its plans to open five new markets for franchise within the US. The firm is gaining momentum in markets outside its core northeastern markets offering additional opportunities for both existing and new franchise candidates. The company has also expanded its operations outside the US into the global market. The company has a globally consistent brand with beverages and bakery adapted to the local market. Dunkin’ Donuts has the most loyal customers in the US coffee business, ahead of McDonalds, Starbucks and Canadian Tim Hortons Inc, according to consulting firm Brand Keys Inc. it should therefore increase the number of stores to accommodate the increasing number of customers. Even though the firm has been in business for 70 years, it still has great potential to increase its brand awareness in the US and globally.
Reference:
Kotler, P., & Keller, K. (2007). A framework for marketing management, 3ed. Upper Saddle River, New Jersey: Prentice Hall Inc.
