Firstly, by the third year, the penetration of the market share has been 10 percent. As against the target of 1 percent penetration by the end of the first year, Happy Monkey achieved 4 percent penetration. By the end of the second year, the penetration level was 5 percent that matches the target of the second year. An outstanding 10 percent market share was achieved by this brand that exceeded the target of 8 percent. These achievements were even more outstanding, considering the fact that the distribution of the retailer for Happy Monkey has been just 30 percent. Secondly, target of the retail sales value has been outdone. The original target of the sales value has been 3.2 million GBP that has been outdone with 3.9 million GBP, registering an exceeding by 22 percent. By the end of the third year, the overall growth level has been 200 percent. Then, the distribution channels were established in Waitrose, Asda, and Sainsbury’s with 4 percent, 14 percent, and 12 percent respectively as of March 2012. Besides, there is a growth of 134 percent in sales volume against the target of 85 percent. By the end of the third year, the target of 85 percent growth in sales volume has been outdone with 134 percent growth. What’s more, there is an increase of 17 percent of per unit average price. The retail price of the brand has increased in the third year by 17 percent against the target of 10 percent.
Power of the Suppliers
The power of the suppliers has been moderate in this industry. There is limited power to the suppliers as the firms have access to the global supply chains that are highly competitive. The supplier count in the industry is moderate that makes it harder for the suppliers to exercise considerable power over the firms producing smoothies. The limitation of the power of the suppliers is characterized by the situation that with increase of price for the supplies, the Happy Monkey can buy the supplies from other suppliers. However, there are some special materials that provide ingredients of the smoothies. The supplier list for these materials is low making strong power for these suppliers.
Analysis of the Customers
The relevant demographic segments that Happy Monkey should be targeting are:
Gender: Both genders are targeted equally, because there are no gender issues in consuming smoothies and milkshakes.
Income: Lower-middle, middle and even upper-middle income groups are targeted. Since, the Happy Monkey products are lowly priced and have high nutrition. It is tailor made for the lower income groups who look for value for money. The upper income households can also be targeted as the demand for Happy Monkey products emanate from the children who want them for cleverly designed promotional campaigns.
Generation: Happy Monkey can target the parents of the babies and kids by the promotional campaigns that appeal to the parents. The parents themselves, in that case, will introduce the products of Happy Monkey to their children.
The relevant behavioral segments Happy Monkey should be targeting are:
Occasions: Happy Monkey can emphasize on the occasions of vacation, picnics, birthdays of the children, children’s parties, Christmas day, etc. for more consumption of their smoothies and milkshakes.
User Status: Apart from the regular users, Happy Monkey should target the potential users like mothers of the new born or the parents of yet-to-go-to-school children.