Mission
• Sweetly creative!
• Crowd Pleasers!
• Cake Slice aims to offer high quality cake products and bakery products at a strong-willed price to meet the demand of middle to higher income of customers.
Market Segmentation
The Process of subdividing a large market into a small or target market to understand target-audience and improve advertising the product.
Cake Slice target the middle or higher income people, we provide excellent creativity and heavenly taste ,our every customer experience a sense of heaven taste , we deem in baking surprising cakes and bakery products, which reflects our company environment.
Geographically, we deals in Islamabad and other big cities but in future we will deal in more than 20 cities within 2 years.
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Target Market Segment Strategy Recognition of target markets and resolve of marketing mix choices that focus on those markets. Cake Slice made the event delicious, we use highly quality ingredients or materials to make our product , we also target the customers who are chocolate , sugar-free , and spicy customers.
Marketing Mix (the 4 Ps)
1. Product
Our product is basically a healthier slice of organic desert and baking product .it is adaptable for all kinds of customers especially who are health conscious and love to healthy and clean food , as concern for healthier environment, we make sure the use of recyclable paper for product boxes. 2. Price
The prices of our products are very reasonable, according to target market the price of cake will be rs.320/pound.
All the product prices includes product price , packing and delivery charges.
3. Place
Cake Slice is basically online organization so our place we customers can access us are websites, facebook , twitter etc .
4. Promotion
Our promotion is to hit the area where customers are more active like facebook , twitter , Google blogs and etc.
Competition
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FINANCIALS:
CAKE SLICE FORECASTED
INCOME STATEMENT
FOR THE YEAR ENDED ON 31-DEC-2014
Net sales for the year RS 20,000
Cost of sales 9,000 __________
Gross profit RS 11,000
OPERATIONAL EXPENSES:
Building rent RS 1200
Asset depreciation 170
Office salaries 1230 Wages 300
Insurance
The total value of the firm has been calculated with the help of PV of cash flows and the continuing value and it shows an amount of
Target corporation has many different location-related decisions to process in more than one aspect. The company must decide on the location of its retail stores, manufactures, and support help. Often the decision to outsource or participate in offshoring can be tempting to a company. Well the impact of outsourcing and offshoring must be examined to ensure that the decision is in the best interest of the company.
Answer: (a): Market segmentation is the first step in defining and selecting a target market to pursue and penetrate. Basically, market segmentation is the process of splitting up an overall market into two or more groups/classes of consumers. Each group of consumers is called as a market segment. Each group (or market segment) should be similar in terms of certain characteristics or product/ service needs. In business world, market segmentation is considered to be a most important tool in enabling marketers to better meet customer needs and requirements.
I. Strengths of TARGET Corporation Target Corporation is one of the largest and oldest public discount retailing company operate in the United States. The company founded in 1902’s by George Dayton (as also known as Dayton Dry Goods in 1962’s). Target store has a huge store footprint and enjoys considerable brand recognition. Target’s portfolio of owned and exclusive brands is also its strength, which allow retailer to a valuable differentiating lover in high competitive retail environment.
1.0. INTRODUCTION Every organization strives to benefit from creating value for its customers, in the most effective way, for the purpose of attaining competitive advantage in the business environment in which they operate. Philip Kotler(2015) defines marketing as “the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit”. According to Hollensen (2003), a strategy is a fundamental pattern of present and planned objectives…”
D) Marketing Plan (4Ps) Marketing Mix (4Ps) • Product – Divide product into three categories for different market o High-end function, design, and price – to target high-end group. The function will feature the highest potential such as child protection lock, built-in coffee and toaster maker, rotisserie, new technology
6.0 Marketing Strategies There are different marketing strategies which can be applied for each component depending on organizational objectives or goals. Skillshare need to accomplish the precise equilibrium of the marketing mix to achieve its goals. Figure 1: The 4 Ps of Marketing Mix Marketing mix is an arrangement of four choices which should be taken before propelling any new product or service on the market. These variables are otherwise called the 4 P's of marketing. These four variables help the firm in settling on vital choices essential for the smooth running of any product / organization.
Segmentation, Targeting and positioning, also known as STP are an essential part in marketing today. This model is important for generating marketing communication strategies and it aids the marketers to prioritize schemes and deliver personalized and pertinent messages to diverse audiences. This approach is audience oriented rather than product focused in terms of communication, which results in conveying appropriate messages to the members who are more commercially appealing. Segmentation benefits the managers in finding out the area on which they have to concentrate on in terms of geography, demographics, social factors or behaviors.
6.1 Marketing Mix Marketing mix is a set of controllable marketing tactics used by business to promote their product and achieve its marketing objectives. (L. Lake, 15 June 2017) Marketing mix is also called the 4Ps which consist of Promotion, Place, Product and Price. (M. J. Baker, 2001, p.54) 6.1.1 Product
Introduction BMW (Bayerische Motoren Werke AG) is a German automobile company which was founded in 1916 and is headquartered in Munich, Bavaria, Germany. BMW is now one of the largest car manufacturer in the world for its exceptional level of quality and producing cars with sporty driving characteristics. The BMW company 's slogan in English is "The Ultimate Driving Machine" or Sheer Driving Pleasure" which was originally translated from German slogan which is "Fraud am Fahren.” In addition to cars and motorcycle, BMW also operates an aircraft engine under the brand name which is known as Rolls Royce.
Carrefour had to segment their customers because they had different needs, behaviors, and preferences; therefore, it was difficult for the company to meet every consumer’s personal characteristics (Wedel and Kamakura 2012, p. 6). Carrefour also had to segment their customers because they needed to come up with a marketing mix that will help the firm meet the needs its customers in their target market. Market segmentation refers to the division of a market into segments that are identifiable and similar. These segments refer to a group of people or organizations that have one or more features in common, which prompts to have same product tastes and needs. According to Wedel and Kamakura (2012, p. 6-7), market segmentation is important because it helps the organization to use their resources efficiently and make better strategic decisions.
According to TrackMaven, market segmentation is the process of dividing the market of potential customers into groups, or segments, based on different features. The created segment consists of consumers who will respond to the same marketing strategy and who share the nature of the same interests, needs, or locations. McDonald uses demographic segmentation as their main types of market segmentation. According to Sakshi Natani (2016), McDonald in Malaysia used mainly demographic segmentation, which divided in age, income, family-life cycle and social class.
Many bakers love to make cakes like that to show their artistic ability and to test their reaches in the baking world. Many bakers like to vary their cakes. A galaxy cake is just one example but it shows how we have developed from just cooking to eat to cooking to eat and be creative. I have been influenced by cooking for my entire fifteen years of life. My mom and dad have been cooking for me and my brother for my whole life.
1. MARKAT SEGMENTATION Market segmentation is a strategy that is generally used by a company to identify and define the target customers, and provide the supporting data for the marketing plan elements. There are five types of market segmentation which are demographic segmentation, geographic segmentation, psychographic segmentation, benefits segmentation and volume segmentation. • Demographic Segmentation Demographic segmentation is market segmentation according to age, family size, religion, race, gender, income and education. By using this segmentation, a company can categorize the needs of consumers more easily and target its consumers more accurately because demographics can segmented into several markets.
Online Marketing Internet and powerful mobile technologies have rapidly increased company efforts to market their products and services and build customer relationships via websites, social media, e-commerce, mobile apps, online promotions etc. These are very powerful tools, especially to reach the younger generations of tech savvy