Thank you to group 1, 3, 6 and 9 for posting your group project blurb!
For groups who cant post directly, you can comment on this post 🙂
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POST HERE: Group Project Blurb
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Group 5 – Milk & Honey
Hi everyone!
We will be presenting on our social media analysis of Milk & Honey (M&H). It is a frozen yogurt shop that competes with other popular names such as Llao Llao, Yoguru and Sogurt.
When we first think of frozen yogurt, our initial thought would be Llao Llao instead of M&H. This is despite the fact that M&H is actually ranked higher than its competitors in the industry in terms of product differentiation, as they offer more exclusive toppings such as macarons and jellies.
Furthermore, the F&B industry is widely affected by food fads that disappear as quickly as they became existent. The frozen yogurt craze is also one such trend that is possibly fading away as other trends like Korean Bingsu and churros begin to emerge, and this could be bad news for M&H if they do not utilize their product uniqueness to stand out against other frozen yogurt brands.
As such, we have come up with 5 strategies to increase their brand awareness and engagement with their customers, whilst retaining brand loyalty amongst the target audience of young adults aged 18-25. Whilst most of the strategies are short-term ones that are meant to help M&H increase their market share against the fierce competition in the industry, a long-term solution is also necessary for M&H to be a sustainable business in the event that the frozen yogurt craze dies down and becomes a passing food fad, very much like how Gong Cha and Koi survived the bubble tea fad a few years ago.
We look forward to sharing our findings and strategies with all of you tomorrow, so don’t miss out! 🙂
Cheers,
Group 5LikeLike
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