Micromarket Analysis of Two Leading Filipino Bakeshops

1. Micromarket Analysis:
Red Ribbon and
Goldilocks
SEntrep Group 2:
Canta, Molina, Olegario, Uy

2. About the Store:
Red Ribbon
• Red Ribbon started business in 1979 at Timog
Quezon City, and introduced cakes and other
specialty products in the Philippine market.
• In 2005, Jollibee Foods Corporation acquired the
company and brought the store to a new phase
with its new programs on franchising, operations,
promotions, etc.
• Red Ribbon is geared towards bringing families and
friends together with its specialty cakes and
products. The tag line of the company is ‘Whatever
the celebration, it’s more beautiful with a Red
Ribbon.’

3. About the Store:
Goldilocks
• Goldilocks started in 1966 at Pasong Tamo by two sisters
and their sister-in law. Having different skills they created
Goldilocks products with chiffon slices and cakes for
special occasions.
• The company has now made Goldilocks as a global
brand strategizing regional and acting local. They have
associated themselves well with the Filipinos and are
now recognized as part of the culture of being Pinoy.
• The brand associates to Filipino values –
thoughtfulness, care, and love for family. The company
claims that it is the leading bakeshop in the country and
strengthens this with the tag line ‘You’re the 1
Goldilocks!’

4. Summary of Differences
CUSTOMER Red Ribbon (Shaw) Goldilocks (Tomas Morato)
1. Demographics
a. Age 20s and above 20s and above
a. Sex Mixed Mostly Females
a. Job Professionals, Homemakers, Homemakers, Senior
Businessmen, Senior Citizens
Citizens
1. Psychographics
a. What do they buy? Pastries, Cakes, Meals Pastries, Cakes, Meals
a. How long do they stay? 10-30 minutes 5-15 minutes
a. Why do they visit? Lunch/Dinner, Pasalubongs, Quick meals, Pasalubongs,
Gifts, Order Cakes, Business Gifts, Order Cakes
Meetings

5. Customer
Psychographics
• Red Ribbon customers buy pastries
such as mamon, ensaymada,
special cakes, and some of them
just dine there
• They buy the bread/pastry products
for pasalubong and gifts for visiting Red Ribbon
people, and the whole cakes and
rolls for special occasions.
• Red Ribbon customers stay 10-25
minutes buying bread roaming
around the area looking for things
to buy
• Diners stay around 15-30 minutes
dining there. They stay and seem to
rest for a while.
Goldilocks

6. Customer
Demographics
• Red Ribbon and Goldilocks’s
customers are 20s and above.
• Red Ribbon – Mix of customers
and almost equal percentages
of males and females Red Ribbon
• Red Ribbon – Clientele is mostly
upper classes A, B, and C.
• Goldilocks - Mostly female
customers although there were
a few young men who visited
• Goldilocks - Caters more to the
masses but also reaches the
upper Class C
Goldilocks

7. Customer
Psychographics
• Goldilocks’s customers buy bread
and pastries such as mamon,
ensaymada, cake rolls, not so
much specialty cakes, and also
dine there Red Ribbon
• Goldilocks’s customers stay a little
shorter around 10-15 minutes both
when buying bread and they seem
to already know what they like to
buy
• Diners also take less time 10-15
minutes and there seems to be less
talk and eating is not done in a
leisurely manner
Goldilocks

8. Summary of Differences
LOCATION Red Ribbon (Shaw) Goldilocks (Tomas Morato)
1. Traffic/Pedestrians At an intersection, High At an intersection, High
vehicular and pedestrian Vehicular and medium
traffic pedestrian traffic
1. Industry
a. Commercial Yes Yes
a. Residential Yes Yes
a. Industrial Yes No

9. Location
• Red Ribbon and Goldilocks are
both situated on intersections and
street corners where vehicular
traffic is high.
• Red Ribbon in Shaw has a high Red Ribbon
pedestrian traffic with varied
people from all social classes due
to public and private transport
passing along the area
• Shaw branch covers all industries
- Commercial – offices in Pasig/Ortigas
Area
- Industrial – near Unilab
- Residential – many condominiums
near the area
Goldilocks

10. Location
• Goldilocks in Tomas Morato
although being in an
intersection only has medium
pedestrian traffic.
• Goldilocks’s is near commercial
and residential areas Red Ribbon
- Commercial – near restaurants
in Tomas Morato
- Residential – near houses and
condominiums
• Red Ribbon’s residential
customers are a bit more
upscale as the residents own
and rent in condominiums.
Goldilocks

11. Summary of Differences
ESTABLISHMENT Red Ribbon (Shaw) Goldilocks (Tomas Morato)
1. Menu/Offerings Wide variety of cakes, Wide Variety of cakes, pastries,
pastries, Western meals with Filipino dishes with some
some Filipino meals, made- Western and Chinese food,
to-order cakes made-to-order cakes
1. Price Cake rolls – half 165-215; Cake rolls – half 160-190; whole
whole 275-330 255-290
Special Cakes – 350-700 Special Cakes – 300-550
Butter Mamon – 20 Fluffy Mamon – 19
Meal – 85 Meal - 105
1. Level of Service Courteous, More than the Fast, Courteous, Speed of service
usual Fastfood Service, Speed is fast, limited personnel, mostly
is just right, Waiters attend to self-service
your needs
1. Facilities Clean, Spacious, with Clean, store area is small, no
Bathrooms and parking bathroom, limited parking space,
space; has a function room

12. Establishment
Menu Offerings
• Both Red Ribbon and Goldilocks are
Bakeshop and Restaurant
• Red Ribbon offers more westernized
food choices with just a few Filipino Red Ribbon
dishes included.
• Some examples of its meals are
Salisbury steak, spaghetti, palabok,
chicken lollipops, tocino, bangus ala
pobre, etc.
• Goldilocks’s meal offerings are more
Filipino dish-oriented with a little
western and Chinese influence.
• Some examples of meals are
kaldereta, dinuguan, spaghetti,
dimsum, halo-halo, noodles, etc. Goldilocks

13. Establishment
Menu Offerings
• Red Ribbon, which is mainly a
bakeshop, offers pastries like
mamon, ensaymada, sweets, a
wide variety of specialty cakes, and Red Ribbon
rolls.
• The store also offers made-to-order
and themed cakes.
• Goldilocks offer pastries but on a
wider variety as aside from cakes
slices, bread, and common pastries
such as mamon, ensaymada, the
bakeshop also offers Filipino pastries
such as puto, cassava cakes, etc.
• The store also has themed cakes. Goldilocks

14. Establishment
Price
• Red Ribbon is more on the
Red Ribbon
more expensive side as
compared to Goldilocks.
• For example, one popular
pastry ‘mamon’ is sold at P20
by Red Ribbon and at one
peso less at P19 by
Goldilocks.
• Both offer similar packaging
and almost the same buttery
quality and goodness of the
pastry.
Goldilocks

15. Establishment
Price
• On the specialty cakes side and
the regular rolls, both offer small
and regular cakes and half and
whole rolls of cakes. Red Ribbon
• Red Ribbon offers its rolls at P165-
215 for half rolls and whole for P275-
330. Goldilocks offer it a lower price
range at P160-190 for half rolls and
255-290 for whole rolls.
• Specialty cakes are priced
between P350-700 for Red Ribbon
and P300-550 for Goldilocks.
• The price range for Goldilocks
reaches the lower class budgets.
Goldilocks

16. Establishment
Level of Service
• Red Ribbon and Goldilocks both offer
somewhat a fast food type atmosphere
• Red Ribbon somehow makes it more
special as it serves using silverware utensils
and serves it in style.
Red Ribbon
• Speed of service for Red Ribbon is
around 15 minutes for meals
• Red Ribbon, although it uses prepared
meals, are cooked when ordered so it
takes a little longer to prepare but also
gives a sense of the shop serving just like
in a normal restaurant.
• Red Ribbon has more attendants in its
store waiting on customers and looking
out for their needs.
Goldilocks
• There is more of a restaurant experience
in Red Ribbon.

17. Establishment
Level of Service
• Goldilocks uses smaller plates,
plastic spoon and forks and cheap
disposable plastic glasses.
• Goldilocks’s speed of service is
around 5-10 minutes and almost
Red Ribbon
instantaneous for other branches as
they have the meals pre-cooked
and are only re-heated.
• Goldilocks is more of a self-service
establishment and there limited
employees in the shop especially
for the one in Tomas Morato. The
cashier is the same one getting the
Goldilocks
order for the themed cakes.

18. Establishment
Facilities
• Red Ribbon has a more spacious
area and even uses furniture like
couches and stylish chairs.
• Goldilocks is more on the
Red Ribbon
economical size and has lesser
space.
• The chairs and tables are simple
and modern but the spaces in the
dining area are a little nearer to
each other as compared to Red
Ribbon.
• Both shops are clean and well
maintained and are up to date
with the style of the current time.
Goldilocks
•

19. Establishment
Facilities
• Red Ribbon has some edges
over Goldilocks in terms of
the facility having a Red Ribbon
bathroom inside the shop.
• There is also a function room
for occasions and business
meetings.

20. Conclusion
• The two bakeshops showed that the shops have an
intersecting target market
• Main difference is that Red Ribbon caters to more
upscale market and Goldilocks reaching into the
lower classes
• Both are offering the same experience of bringing
sweetness into the Filipino families both here and
abroad.