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Marketing Demand and Potential
¡§Market demand for a product is the total volume that would be bought by a defined customer group in a defined geographical area in a defined time period in a defined marketing environment under a defined marketing program. Market potential is the limit approached by market demand as industry marketing expenditures approach infinity for a given marketing environment.¡¨ (Kotler, 2001, pg. 63).
This paper will focus on the potential of opening a new ice cream parlor in Chicago, Illinois. The ice cream parlor would be unique in that when the consumer enters this parlor he/she can create his/her own ice cream creation by deciding on the flavor of premium ice cream and what type of treat to mix it with. These ¡§treats¡¨ include a variety of fresh fruit, nuts, chocolates, candy pieces, and traditional toppings. The consumer will be given all of his or her selections and directed to a see-thru mixer. During this step, the consumer would pour in all the ingredients and watch his/her creation in the making. My theory is this process would be extra special for children. The mixed treat would then be served in a special cone or container. It the consumer decides to eat at the parlor, special old-fashioned ice cream glasses and bowls will be used.
History of Ice Cream
The love of ice cream goes back to 1776, when the first ice cream parlor was opened in New York City. Also, Dolley Madison, wife of U.S. President James Madison, served ice cream at her husband's Inaugural Ball in 1813. Fast forward to 2003 and America continues a love affair with ice cream. The following are some facts from the website, MakeIceCream.com, about Americas consumption of ice cream.
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