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Ice Cream Industry Analysis

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INDUSTRY RISKS
According to our external analyses, the risks for our business is concerning about the machine. One of the biggest risks in our business is the breakdown of the machine or having no electricity or brownout. Our product almost rely on our machine because it is the only equipment needed to make the ice cream. According to our competitor analysis, we can consider their pricing strategy as one of our risks. The soft served ice creams are very cheap compared to our price. Also, our competitors near our location is already an established brands. Another risk for our business is also the availability of substitute products like smoothies, frappes, ice candy, cold soft drinks, etc.5 FORCES ANALYSIS
Bargaining power of suppliers (Medium) …show more content…

Our product is unique but ice cream has substitute products like milk teas and frappes that also gives the same benefit of ice cream that gives a cooling effect. Even though our product has a competitors in the trade area and has a substitute product, our product is still unique because of the process of making the ice cream itself. Based on our market research consumer has a lot of choices of kind of ice cream which they prefer which will divide our market depending on their …show more content…

According to our survey, the types of ice cream that the consumers buy and eat correlates to their decision process. Their decision process now is being a factor for their purchasing power. For example, we asked respondents if they value the way of making the ice cream and almost half of the percentage said yes which now affects their decision whenever they buy ice cream. The decision process of our target market is from word of mouth and social medias. Through that, our target market can be aware of a new brand and influence their buying behavior. According to Euromonitor, the most type of ice cream that is purchased by Filipinos are bulk ice cream because it is already part of the festives and other special occasions. This is exactly one of the reasons why Selecta remains the market leader in the ice cream industry. Another emerging type of ice cream is the artisan ice cream. It has an edge over its competitors because of the different flavours they offer. According to one article in Inquirer Read Along, chocolate remains significant flavour in our country. The reasons why consumers buy ice cream are because of cravings, stress reliever, and for special

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