10 STEP Marketing Plan for Red Ribbon Cakes

Joanne WolcottFebruary 2011

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Product Photo here

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This 10 Step Marketing Plan is part of the mandatory requirements of Prof. Remigio Joseph De Ungria’s AGSB marketing management class.

The data included in this report are based on publicly available data such as those on internet websites, news, package declarations, public reports.

When appropriate, data are “masked” so as not to create unexpected conflicts.

The reports are posted and linked on slideshare, blogs and facebook so that there is easier sharing among students from different marketing classes.

Disclaimer

1. Primary Target Market

What do they need, want, demand2. What are they choices3. Where is the opportunity4. How big is the market (3Cs)

Steps 1 to 5

Summary headline of your PTM and market

1) Class A and B Families who want to celebrate togetherness and make it special

2) They need a good tasting cake that suites the specialty of the occasion

3) For the longest time goldilocks has the market share for commercial cakes

4) The gap competition is always about great tasting food

5) The market size is with in the class A and B

Celebrates Life Beautiful Moments

6. Product7. Price 8. Promo 9. Place 10. Generic Winning Strategy of Mix

Steps 6 to 10

Summary headline of the marketing mix & strategy

Products- there are cakes, pastries, breads, pasta miryenda meals, set meals, custom cakes,rolls

Price cakes are from Php 350-595 Cake rolls 210-300 Pastries Php120-350 Miryenda meals average Php 150

Marketing Mix and Strategy

Promo- print, tv and radio. More emphasis on print

Place- major malls, inside jolibee stores and free standing stores with in food district

Appeals to the emotion of the customers

1. Describe the primary target market (PTM)*

Demographics (Age range: must have a start and end age*, sex, social class, marital status)

Lifestyle (what they do) Behavior (when consumed, how

much, how frequent, special concerns)

*Exclusion of a certain demographic group in PTM does not mean they do not buy the product. Some do buy, but majority don’t which is why limited marketing resources are best focused on PTM

They are targeting families that are in the class A and B. Has emphasis on the women who chooses food for the family

They are well to do in the society. All of the commercials are in English

They target people who views food as a sign for to gather people and have “bonding time”

Class A and B families who want to make their togetherness special

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

) Total pop of the Phil 92 million

approximately 62,008,000 target market (adding all the upper class, upper middle, and middle class)

2. My PTM’s NWD

Needs from Maslow’s hierarchyWants determine choiceDemands for them to buy the

productNote: There may be multiple answers for needs, wants demands. Of these answers, underline and use bold font for the best answers. See examples that follow

Describe your PTM needs

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Self-Actualization Needs(Self-

Development & Realization)

Esteem Needs (Recognition,

Status)

Social Needs (sense of belonging, love)

Safety Needs (security, protection)

Physiological needs (food, water, shelter)

Reference: Maslow’s Hierarcy of Needs Marketing Management, 11th ed, Philip Kotler

I want to belong to a loving familiy

I am happy with my family

2. PTM’s needs, wants & demands

Needs: list of needs from Maslow’s hierarchy that the product meets.

Wants: what variables are used by the primary target market to choose among several products that can satisfy the same needs.

Demands: for the PTM to finally decide to buy the product, what characteristics, values, benefits or selling propositions must the product have?

** for needs, wants & demands, underline the top 1or 2 variables that are most important to the PTM

3a. Direct and indirect products that address my PTM’s NWD

List of Competitors products/ brands

Determine the variables that affect choice of product, brand

3b. Create 2 Positioning Maps

1st Map: 2 x 2 Matrix showing the 2 Most Critical Variables for Consumer choice

This 1st Map should allow differentiation/ non-clustering of the direct competitors

Example: Price vs. AgeSize of bubbles= represent relative market

shares of the brands2nd Map: Functional Benefit vs. Brands/ Variants

Example of a 2x2 competitive position map for toothpaste

Price/ Age Matrix

0-13 yrs 13-24 yrs 25-49 yrs 50yrs up

High price

Low Price

Closeup

Colgatekids

ColgateTotal + whiten

Sensodyne

HapeeUnique

HapeeComplete

+ whitening

Price vs. Age Matrix as of 2011

HapeeFresh

CloseUp

whiten

ColgateSensitive

ColgateFresh

Unique

Example of a benefit positioning vs. brand map for toothpaste

Benefit Positioning vs. Brand Matrix

as of 2011

Functional BenefitColgate

KidsColgate

Fresh

Colgate Total+

WhiteningColgate Sensitive

Close Up Gel

Close Up White

Hapee Kids

Hapee Fresh

Hapee Total + Whiten Unique Sensodyne

Prevents Tooth DecayWhitens TeethFreshens BreathMouthwash in 1Fresh ConfidenceConfidence Up Close to KissProtect 24 hoursFun for kidsSaves moneyReduces teeth sensitivity

Harder to stand out amidst the competitive clutter.

4. Identify the gap between customers and competition

Where is the marketing opportunity?

What NWDs are not being addressed?

What can be the unique selling proposition for the new product (totally new or repositioned.)

5a. Estimate the market size using competitor data

1. Top 7000 Corporation Data or news Total Sales from 1 product companies % of sales from multi-product

2. vs. known Industry size comparisons3. vs. 1-1 suppliers4. Visual observation- warehouse5. Pirating personnel or garbage6. Illegal interview7. “Share of Shelf”

5b. Estimate the market size using company data

1. Claimed market share2. Guesstimate on market share

Fair share of market Distribution extent

3. Historical sales

5c. Estimate the market size using customer data

1. Usage per day or per year Per person Per household

5. Decide on market size in pesos, not in number of people1. Competitor data=

2. Company data =

3. Customer Usage data =

Use instinct and best business judgment to finalize market size

6a. Photo of product category

Show a product shotYour product and your competitorswith, without box as they look in the

supermarketAll pack sizesAll variantsAll major brands

6a. Show how product looks vs. competition

Product shot 1 of direct competitors

Product shot 2 of indirect competitors

How product looks in supermarket shelves

or point of sales

6b. Product Description

Describe the physical features, specifications, attributes of the product.

Info may be in product packaging, label, brochures or website.

7. Price

Get prices of your product Creatively compare vs.

competitors across different pack sizes and variants

Quantify the price difference in % terms vs. competitors

Conclude on what pricing strategy is being used

8a. Which of these modes does your product use?** Pls. rank most used, 1-highest use

8a. Your products Promotions

Describe what you propose to do/ product is currently doing vs. the 8 modes of communications.

Show executions of this (from websites, print ads, actual commercials)

8a. Samples of Promo

Samples

This can be in multiple slides

8b. Competitor promo

Show also how your key competitors communicate

Their commercialsTheir websites

And why your communication stands out

8b. Competitor promo

Samples

Can be multiple slides

9. Place

Where is your product available? Supermarkets, sari-sari stores,

convenience outlets, drugstores Nationwide or in key areas only? Method of delivery (some products

can be delivered to your home, ordered via internet, phone orders, etc.)

10. What is the generic winning strategy?

Which of the 4 strategies are being used? (bold and underline to most dominant strategy) Low Cost Producer Supply and Distribution Leverage Differentiation Niche

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SUMMARY

1. Identify your target (PTM)2. What do they need, want,

demand (NWD)3. What are they choices

(competitors)4. Where is the opportunity (gap)5. How big is the market (3Cs)

Steps 1 to 5

Summary headline of your PTM and market

6. Product7. Price 8. Promo 9. Place 10. Generic Winning Strategy of Mix

Steps 6 to 10

Summary headline of the marketing mix & strategy

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YOUR ASSIGNMENT AS A MARKETING STUDENT

Your Assignment

Use this template to make your marketing plan for a product or company that will also be the topic of your STRAMA

Follow power presentation principles

Grading

Customers (PTM, NWD)- 20% Competition (Positioning Map,

Market Size) 30% Company (4Ps, Strategy)- 40%

Power Principles Formatting- 10%