Read the case study Running a Business:
Part: Graeter's is "Synonymous with Ice Cream":
Using information from the written case and the video, thoroughly answer the following questions:
1. In this unit, utility was defined as the ability of a good or service to satisfy a human need. What are the four kinds of utility and how do they affect Graeter's, a company that sells premium-quality ice cream? Give specific examples of each.
2. Graeter's ice cream line includes smoothies and sorbets. Do you think it should consider other brand extensions such as yogurt, low-fat ice cream, coffee drinks, or other related products? Explain why or why not.
3. What are the elements of Graeter's marketing mix? Which are most likely to be affected by external forces in the marketing environment? Provide rationale for your selections.
4. Competitors Haagen-Dazs and Ben & Jerry's also sell premium ice cream brands, but have much larger marketing budgets than Graeter's. In fact, for many small firms like Graeter's every marketing dollar must be used as effectively as possible.
If you were in charge of Graeter's sales and marketing, how would you measure the success of a new promotional campaign? Be specific and detailed in your response.