10 step marketing plan wolcott

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10 step marketing plan wolcott

  1. 1. 10 STEP Marketing Plan for Red Ribbon Cakes<br />Joanne Wolcott<br />February 2011<br />1<br />
  2. 2. Disclaimer<br />This 10 Step Marketing Plan is part of the mandatory requirements of Prof. Remigio Joseph De Ungria’s AGSB marketing management class.<br />The data included in this report are based on publicly available data such as those on internet websites, news, package declarations, public reports.<br />When appropriate, data are “masked” so as not to create unexpected conflicts.<br />The reports are posted and linked on slideshare, blogs and facebook so that there is easier sharing among students from different marketing classes.<br />
  3. 3. Steps 1 to 5Summary headline of your PTM and market<br />Primary Target Market (What do they need, want, demand)<br />What are they choices<br />Where is the opportunity<br />How big is the market (3Cs)<br />
  4. 4. Celebrates Life Beautiful Moments<br />Class A and B Families who want to celebrate togetherness and make every moment special<br />They need a good tasting cake that suites the specialty of the occasion<br />For the longest time goldilocks has sole market share for commercial cakes<br />The gap competition is always about great tasting food<br />The market size is with in the class A and B<br />
  5. 5. Steps 6 to 10Summary headline of the marketing mix & strategy<br />Product<br />Price <br />Promo <br />Place <br />Generic Winning Strategy of Mix<br />
  6. 6. Marketing Mix and Strategy<br />Products<br />there are cakes, pastries, breads, pasta miryenda meals, set meals, custom cakes,rolls<br />Price <br />cakes are from Php350-959<br />Cake rolls 210-300<br />Pastries Php120-350 in (packs of 3’s or 6’s)<br />Miryenda meals average Php 150 (available in free standing stores and mall stores) <br />
  7. 7. Marketing Mix and Strategy<br />Promo<br /> print, tv, radio and internet. More emphasis on print<br />Place<br />Inside major malls, inside Jolibee stores in the provinces and free standing stores with in “food district” of cities.<br />They also have internet and delivery hotlines<br /> Over all generic winning strategy: Appeals to the emotion of the customers<br />
  8. 8. 1. Describe the primary target market (PTM)*<br />Demographics (Age range: must have a start and end age*, sex, social class, marital status)<br />Lifestyle (what they do)<br />Behavior (when consumed, how much, how frequent, special concerns)<br />
  9. 9. Class A and B families who want to make their togetherness special<br />They are targeting families that are in the class A and B. Has emphasis on the women who chooses food for the family<br />They are well to do in the society. All of the commercials are in English<br />They target people who views food as a sign for to gather people and have “bonding time”<br />
  10. 10. Market Size for Commercial Cakes<br />6.1 percent upper class, 4.2 percent upper-middle class, 57.1 percent middle class (http://opinion.inquirer.net/inquireropinion/columns/view/20100710-280190/NSCB-tries-to-count-the-rich)<br />Total pop of the Phil 92 million approximately 62,008,000 target market (adding all the upper class, upper middle, and middle class)<br />
  11. 11. 2. My PTM’s NWD<br />Needs from Maslow’s hierarchy<br />Wants determine choice<br />Demands for them to buy the product<br />
  12. 12. 3a. Direct and indirect products that address my PTM’s NWD<br />List of Competitors products/ brands<br />Determine the variables that affect choice of product, brand<br />
  13. 13. Describe your PTM needs<br />I am happy with my family<br />I want to belong to a loving family<br />Reference: Maslow’s Hierarcy of Needs Marketing Management, 11th ed, Philip Kotler<br />13<br />
  14. 14. 2. PTM’s needs, wants & demands <br />Needs: To have a great tasting dessert/ snack <br />Wants: To have a centerpiece for the special occasion or togetherness.<br />Demands: They want something that is considered of high caliberand something to be proud of when buying a caked for sharing. Most of the target market are from the class A and B so they are also looking for the quality of ingredients and the presentation <br />
  15. 15. 3b. Positioning Maps for the Cake and Pastries industry<br />1st Map: 2 x 2 Matrix showing the 2 Most Critical Variables for Consumer choice<br /> This 1st Map should allow differentiation/ non-clustering of the direct competitors<br />Example: Price vs age<br />Size of bubbles= represent relative market shares of the brands<br />2nd Map: Functional Benefit vs. Brands/ Variants<br />
  16. 16. Position Map For Cakes<br />as of 2011<br />Price vs. Age Matrix<br />Contis<br />Red ribbon<br />Red ribbon<br />Goldilocks<br />Goldilocks<br />Goldilocks<br />
  17. 17. as of 2011<br />Example of a benefit positioning vs. brand map for cake<br />Benefit Positioning vs. Brand Matrix<br />
  18. 18. 4. Identify the gap between customers and competition<br />Where is the marketing opportunity?<br />There is opportunity in looking more into the customized cakes for birthdays. Goldilocks is dominating that market through the designs of the kiddie cakes. <br />In the 50 above age bracket, it is dominated by Goldilocks because of the brand recall and it has been there for a long time or by specialty cakes producers <br />Can also compete with the local pastries since Goldilocks is the only one selling that in their stores. <br />
  19. 19. What NWDs are not being addressed?<br />The need to satisfy the budget of the lower class(class C and D), that would like to have a piece of the better off counterparts. <br />What can be the unique selling proposition for the new product (totally new or repositioned.)<br />A good selling proposition is still go head to head with Goldilocks since the only stores that are competing for the commercialized cake industry.<br />Stay in the Class (mid to lower) A and class B bracket. <br />
  20. 20. 5a. Estimate the market size using competitor data<br />1. Industry size comparisons and observation in the environment<br />For every 2 goldilocks free standing stores, there is also 2 red ribbon stores within the vicinity. <br />In an SM mall there is always a red ribbon and goldilocks in the premises.<br />If there is Jolibee, there is most of the time there are red ribbon cakes and pastries for sale<br />Goldilocks pastries are sold in the super market. <br />
  21. 21. 5b. Estimate the market size using company data<br />Claimed market share<br />3 billion pesos (Red Ribbon, 2009 sales )<br />5.947 Billion( Goldilocks, 2007 sales)<br />Guesstimate on market share<br />= estimated 30% market share of red ribbon<br />http://www.goldilocks.com.ph/business-opportunities<br />http://www.jollibee.com.ph/downloads/reports/2009/annual_2009.pdf<br />
  22. 22. 5c. Estimate the market size using customer data<br />Average size of a household is 5 people in the Philippines. Usually Cakes are being bought for special occasion so an estimate of buying a whole cake is an average of 3-5 times a year. This is applicable to the target market of class A and B. <br />http://www.nscb.gov.ph/headlines/StatsSpeak/2008/011408_rav_poor.asp<br />
  23. 23. 5. Decide on market size in pesos, not in number of people<br />Competitor data= 6Billion Pesos (2007)<br />Company data = 3 Billion Pesos (2009)<br />Customer Usage data = n.a<br />
  24. 24. 6a. Cakes<br />
  25. 25. Cake Rolls and pastries<br />
  26. 26. Snacks/mireyenda<br />
  27. 27. 6a. Show how product looks vs. competition<br />
  28. 28. 6b. Product Description<br />The box of the cake is always red. Their boxes are always packed with a red ribbon lace<br />The information about the cake is always specified in the receipt. There is no box window to see the product unlike Goldilocks.<br />They always put a premium in the packaging, the box lining is smooth and glossy so that the icing cannot sag the box if it touches. <br />
  29. 29. Packaging<br />
  30. 30. 7. Price<br />* All prices In Phil peso<br />
  31. 31. 8a. Which of these modes does your product use?** Pls. rank most used, 1-highest use<br />Mass Marketing<br />Advertising<br />Sales Promo<br />Public Relations <br />Personal Marketing<br />Interactive Marketing<br />Personal Marketing<br />Word Of Mouth<br />
  32. 32. 8a. Your products Promotions<br />Advertisement <br />
  33. 33. Website<br />
  34. 34. Advertisments<br />Radio:<br />http://www.youtube.com/watch?v=mAQE3K9qGEw<br />Video http://www.youtube.com/watch?v=r6q-aN9Ny1o<br />
  35. 35. 8b. Competitor promo<br />
  36. 36.
  37. 37. Communication<br />The advantage of Red ribbon is that it has a active website that you can order directly<br />It has exposure to many avenues since red ribbon is also present in Jollibee stores<br />They concentrate on the “expirience” of having a red ribbon cakes<br />
  38. 38. 9. Place<br />Where is your product available?<br />It is available in every major malls, many jolibee outlets and free standing stores<br />It is also available in the internet and has a delivery hotline <br />
  39. 39. 10. What is the generic winning strategy?<br />Which of the 4 strategies are being used? (bold and underline to most dominant strategy)<br />Supply and Distribution Leverage- because it can easily be accessible to the consumers. It is also present in Jollibee stores.<br />Delivery by internet or hotline<br />Differentiation<br />It caters to the class A and B who have an eye for quality <br />
  40. 40. SUMMARY<br />40<br />
  41. 41. Steps 1 to 5Summary headline of your PTM and market<br />Identify your target <br />Class A and B<br />What do they need, want, demand (NWD)<br />They need a cake that can be the centerpiece of the gathering to make it special<br />What are they choices (competitors)<br />Goldilocks<br />Specialty cake stores<br />Contis<br />Small Bakeries<br />Where is the opportunity (gap)<br />In the higher end cakes and distributing native pastries<br />How big is the market (3Cs)<br />
  42. 42. Competitor data= 6Billion Pesos (2007)<br />Company data = 3 Billion Pesos (2009)<br />Customer Usage data = n.a<br />Claimed market share<br />3 billion pesos (Red Ribbon, 2009sales )<br />5.947 Billion( Goldilocks, 2007 sales)<br />Guesstimate on market share<br />= estimated 30% market share of red ribbon<br />
  43. 43. Marketing Mix and Strategy<br />Promo<br /> print, tv, radio and internet. More emphasis on print<br />Place<br />Inside major malls, inside Jolibee stores in the provinces and free standing stores with in “food district” of cities.<br />They also have internet and delivery hotlines<br /> Over all generic winning strategy: Appeals to the emotion of the customers<br />

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