Introduction
Dunkin’ Donuts is a large company serving food and beverages to its customers. Its mission statement is “to be the leading provider of a wide range of delicious beverages & baked products … the highest level of quality product and best value for money.” Its vision statement is “to be always the desired place… to enjoy with family and friends.” (“Dunkin’ Donuts Mission Statement”, 2021, Dunkin’ Donuts Vision Statement section, para. 1). Thus, the company aims to be the leader in the market with a loyal customer base of people visiting restaurants in groups.
History
Dunkin’ Donuts has a long history of paying special attention to marketing that continues to this day. For example, the company heavily utilizes social media, collaborating with platforms such as Instagram, Facebook, Twitter, and TikTok. In 2018, they radically changed marketing by removing “Donuts” from their name. This helped Dunkin’ generate USD 242 million in net income in 2019, compared to USD 230 million in 2018, while Dunkin’s earnings power has increased by over 40% seven times (Yu, 2020). Thus, Dunkin’ has mainly been successful in its marketing activities.
SWOT Analysis
Dunkin’s strengths include its international presence, with stores in 42 countries, its customer service, the provision of training to employees for their roles, and its strong portfolio. Its weakness is an abundance of competitors, such as Starbucks, which has a larger market share. Another weakness is the difficulty in managing franchisees, which often results in lawsuits.
The company can utilize further international expansion, include more healthy food options on the menus, and research its customers according to a societal marketing orientation (Kotler & Armstrong, 2017). Dunkin’ faces several threats as well, including potential expansion by competitors, a lack of healthy food options, and the seasonal nature of some of its products.
Conclusion
Thus, Dunkin’ Donuts, now simply known as Dunkin’, successfully employs its marketing strategy to create a stable customer base. The change of name and social media activity has ensured a stable income growth. However, there is room for improvement, as competitors are very influential, and Starbucks remains more popular. Dunkin’ must continue to research its customer base in accordance with the societal marketing orientation and continue its foreign expansion.
References
Kotler, P., & Armstrong, G. (2017). Principles of marketing (17th ed.). Pearson Higher Education.
Dunkin’ Donuts’ mission statement & vision statement 2022. (2021). Web.
Yu, K. (2020). Just call us Dunkin’: How an iconic food chain’s huge branding decision became a marketing success [Monday Marketing Marvels]. Web.