Marketing Plan (Sweet Cravings)

Marketing Plan Sweet Cravings Entrepreneurship I / 2018
‘Entrepreneurship I’
GROUP MEMBERS:
Arooba Fatima 27847

Eman Mazhar 30271
Fatima Shoaib 30302
Maaz Ali 30170
Mehreen Khan 30322
Uroosha Shahid 33933
Submitted as mandatory requirement for the course “Entrepreneurship I” in the

Program, Bachelor of Business Administration, to ‘Sir Jahanzaib Niazi’ on 28th
Arpil’18.
1
CONTENTS
Acknowledgement .............................................................................................................. 4
Executive Summary ............................................................................................................ 5
1.0 Company Background .................................................................................................. 6
1.1 Mission Statemnt .................................................................................................... 6
1.2 Vision Statement ..................................................................................................... 6
2.0 Target Market................................................................................................................ 6
2.1 Geographic .................................................................................................................... 7
2.2 Demographics ............................................................................................................... 7
2.3 Psychographics ............................................................................................................. 8
2.4 Behavioral ..................................................................................................................... 9
2.5 Differentiation ............................................................................................................... 9
2.6 Positioning .................................................................................................................... 9
2.7 Differentiated Strategy ................................................................................................ 10
2.8 Porter’s Five Forces .................................................................................................... 10
3.0 Macro Environment .................................................................................................... 12
3.1 PESTEL Analysis ....................................................................................................... 12
4.0 Industrial Analysis ..................................................................................................... 14
5.0 Competitive Advantages ............................................................................................. 16
6.0 SWOT Analysis……………….....….………………………………………………..18
6.1 Competitors’ Analysis…..……………………………………………………………19
6.2 Market Based View..................................................................................................... 20
2
6.3 Competitive Advantages from a Customer’s Perspective ......................................... 21
6.4 Product Life Cycle ..................................................................................................... 22
6.5 Market Characteristics ................................................................................................ 22
7.0 The Hexagon ............................................................................................................... 23
8.0 Perceptual Map ........................................................................................................... 24
9.0 Ansoff’s Matrix ........................................................................................................... 26
9.1 Conglomerate Diversification Strategy....................................................................... 27
9.2 Marketing Mix Price ................................................................................................... 27
9.3 Packaging Strategy...................................................................................................... 27
10.0 Brand Development Strategy .................................................................................... 28
10.1 Costing ...................................................................................................................... 29
11.0 Conclusion & Recommendation ............................................................................... 30
References ......................................................................................................................... 31
3
Acknowledgement
We start with the name of Almighty ALLAH for giving us strength, potential and strong points
to complete this task. We would like to thank the people who have made this work possible. Our
prime appreciation goes to our supervisor Sir Jahanzaib Niazi, the encouragement, motivation
and support he provided us with his knowledge on the subject. He provided us with all those
guidelines necessary for the accomplishment of our task and within the lights of his supervision
we were able to understand the objectives necessary for this task. We could not have had a better
advisor and we would like to thank our parents as they have always encouraged us throughout all
our endeavors. Their support and advices has given us the motivation to achieve our goals.
4
Executive Summary
The marketing study was conducted by a group of 6 members. The main objective is to launch a
new and exciting product to enhance the quality life of consumers. In order to capture the right
target market, research has been conducted from different aspects of marketing strategies. We
have done some kind of analysis to know the buying potential of the existing customers.
Biragdeiro Tart is the quality product for our customers in terms of taste, quality and packaging.
Our mission is to provide a safe and healthy product to our customers. Hygiene is one of our
main unique selling point at which we are going to advertise our product through different
mediums. SWOT analysis has been conducted to know that how efficiently we can make our
business successful.
5
1.1 Mission Statement
To give people the highest quality and a great experience by providing freshest products and to
find a niche in market and bring out a product that is not already there. Sweet Cravings
constantly provide outstanding customer service and believe that customer satisfaction is the
ultimate goal.
1.2 Vision
Initially, Sweet Cravings would start with kiosks in small places like universities (Iqra
University). Eventually, Sweet Cravings would like to have its own bake shop in 5 years and
bring out a wider range of products that are unique to the market and are not already out there.
Once the business is established, Sweet Cravings would introduce new products like truffles and
chocolate drinks.
2.0 Target Market
Sweet Cravings firstly, targeted the people of urban areas and people who belong to the upper
middle, lower uppers, upper uppers social classes and people who are older than 3 years in the
region of Iqra University, whose density is 16000. Sweet Cravings’ products are for both the
genders and a person that have an income of at least 20,000 per month can easily afford Sweet
Cravings’ offerings. It is for all types of personality, because we provide our customers hygienic
food and consistent quality and it is especially for the people who love chocolate and Sweet
Cravings’ products fit for every occasion.
6
2.1 Geographic
Collecting and analyzing information according to the physical location of the customer or other
data source. Geographic segmentation is often used in marketing, since companies selling
products and services would like to know where their products are being sold in order to increase
advertising and sales efforts there.
 Region: Karachi
 Urban, suburban, rural: Urban
 City size: 3780 sq. km
 Country size: 796,096 sq. km
 State size: 140,914 sq. km
 Market density: 16000
 Climate: Moderate, Humidity
 Terrain: Iqra university
2.2 Demographics
Demographic segmentation is market segmentation according to age, race, religion, gender,
family size, ethnicity, income, and education. Demographics can be segmented into several
markets to help an organization target its consumers more accurately.
 Age: 3 and above
 Gender: Male and Female
 Race: No discrimination on the basis of race
7
 Ethnicity: For all ethnic groups
 Income: 20,000 and above
 Education: For everyone (literate and illiterate)
 Occupation: Suitable for all occupations
 Family Size: For small, big or medium sized families
 Family life cycle: For all stages of life cycle (Independence. Coupling or marriage,
parenting: babies through adolescents, launching adult children, retirement or senior
years)
 Religion: For all religions
 Social Class: Upper middle, lower uppers, upper uppers.
2.3 Psychographics
In the field of marketing, demographics, opinion research, and social research in general,
psychographic variables are any attributes relating to personality, values, attitudes, interests, or
lifestyles.
 Personality Attributes: For all personality types
 Motives: To satisfy sweet cravings
 Lifestyle: Sweet oriented; it is for all types of personality, especially for the people who
love chocolate.
2.4 Behavioral
Behavioral Segmentation is market segmentation based on certain consumer behavior
characteristics, such as benefits sought by the consumer, the extent to which the product is
consumed, brand loyalty, price sensitivity, and the ways in which the product is used.
8
 Volume usage: Heavy users, triers
 End use: Satisfaction for sweet cravings
 Benefit Expectations: Satisfaction
 Brand Loyalty: Very much
 Price Sensitivity: Affects a lot
2.5 Differentiation
 We provide our customers hygienic food and consistent quality.
 The customers’ craving for sweets.
 We will be offering Brigadeiro Tarts to all the customer segments that we have
highlighted.
 We are satisfying the desire of customers for a fresh chocolaty dessert.
2.6 Positioning
 Active people through attractive packing.
 Innovations after some time.
 Pricing strategy differentiate Sweet Cravings from their competitors.
 Sweet Cravings making their product in a hygienic environment.
 Sweet Cravings satisfy the need of sweets.
2.7 Differentiated Strategy
A sales growth strategy in which several market niches or population segments are targeted with
different products for each niche or segments.
9
2.8 Porter’s Five Forces
Porter's Five Forces is a model that identifies and analyzes five competitive forces that shape
every industry, and helps determine an industry's weaknesses and strengths. Frequently used to
identify an industry's structure to determine corporate strategy, Porter's model can be applied to
any segment of the economy to search for profitability and attractiveness. These forces are:
1. Competition in the Industry
The importance of this force is the number of competitors and their ability to threaten a
company. The larger the number of competitors, along with the number of equivalent products
and services they offer, the lesser the power of a company. Suppliers and buyers seek out a
company's competition if they are unable to receive a suitable deal. When competitive rivalry is
low, a company has greater power to do what it wants to do to achieve higher sales and profits.
2. Potential of New Entrants into an Industry
A company's power is also affected by the force of new entrants into its market. The less time
and money it costs for a competitor to enter a company's market and be an effective competitor,
the more a company's position may be significantly weakened. An industry with strong barriers
to entry is an attractive feature for companies that would prefer to operate in a space with fewer
competitors.
3. Power of Suppliers
This force addresses how easily suppliers can drive up the price of goods and services. It is
affected by the number of suppliers of key aspects of a good or service, how unique these aspects
are, and how much it would cost a company to switch from one supplier to another. The fewer
10
the number of suppliers, and the more a company depends upon a supplier, the more power a
supplier holds.
4. Power of Customers
This specifically deals with the ability customers have to drive prices down. It is affected by how
many buyers or customers a company has, how significant each customer is, and how much it
would cost a customer to switch from one company to another. The smaller and more powerful a
client base, the more power it holds.
5. Threat of Substitutes
Competitor substitutes that can be used in place of a company's products or services pose a
threat. For example, if customers rely on a company to provide a tool or service that can be
substituted with another tool or service or by performing the task manually, and if this
substitution is fairly easy and of low cost, a company's power can be weakened.
11
3.0 Macro Environment Factor
A macro environment is the condition that exists in the economy as a whole, rather than in a
particular sector or region. In general, the macro environment includes trends in gross domestic
product (GDP), inflation, employment, spending, and monetary and fiscal policy.
3.1 PESTEL Analysis
Political Factors
These are all about how and to what degree a government intervenes in the economy. This can
include – government policy, political stability or instability in overseas markets, foreign trade
policy, tax policy, labor law, environmental law, trade restrictions and so on.
Economic Factors
Economic factors have a significant impact on how an organization does business and also how
profitable they are. Factors include – economic growth, interest rates, exchange rates, inflation,
disposable income of consumers and businesses and so on.
Social Factors
Also known as socio-cultural factors, are the areas that involve the shared belief and attitudes of
the population. These factors include – population growth, age distribution, health
consciousness, and career attitudes and so on. These factors are of particular interest as they have
a direct effect on how marketers understand customers and what drives them.
12
Technological Factors
We all know how fast the technological landscape changes and how this impacts the way we
market our products. Technological factors affect marketing and the management thereof in three
distinct ways:
New ways of producing goods and services
New ways of distributing goods and services
New ways of communicating with target markets
Environmental Factors
These factors have only really come to the forefront in the last fifteen years or so. They have
become important due to the increasing scarcity of raw materials, polution targets, doing
business as an ethical and sustainable company, carbon footprint targets set by governments (this
is a good example were one factor could be classes as political and environmental at the same
time). These are just some of the issues marketers are facing within this factor. More and more
consumers are demanding that the products they buy are sourced ethically, and if possible from a
sustainable source.
Legal Factors
Legal factors include - health and safety, equal opportunities, advertising standards, consumer
rights and laws, product labelling and product safety. It is clear that companies need to know
what is and what is not legal in order to trade successfully. If an organization trades globally this
becomes a very tricky area to get right as each country has its own set of rules and regulations.
13
4.0 Industrial Analysis
 Customers: Sweet Craving’s is targeting students of Iqra University.
 Suppliers: Sweet Cravings will be buying raw materials and other ingredients from
Imtiaz Super Market.
Imtiaz Super Market is one of the leading retailers in Karachi. Over 70,000 people visit
our stores each day. We offer a wide range of quality products which include but not
limited to world-class medicinal products, huge variety of house hold items as well as
outstanding quality of food stuff which is responsibly sourced from around 2,000
suppliers, globally. Imtiaz has a huge number of over 1000 employees working around
five different stores. We also plan to expand the business, with a mission to provide fine
shopping experience to every citizen of Pakistan.
 Substitutes Industry: Sweet Craving’s competitors are the bakeries which offer
substitute products for the Brigadeiro Tarts. Bakeries which offer substitute products are:
i. Delizia
ii. Red Riding Hood
iii. Bravo Bakery
iv. Sacha’s
v. La Farine
Steps in Industrial Analysis:
i. Questions asked from the Customers:
 If the seller offers unique desserts, is it going to attract you?
14
 If the seller increases the price of its offerings, would it affect your purchasing
behavior?
 If the seller increases the price of its offerings but promises the best quality,
would it affect your purchasing behavior?
 As a buyer, I can never compromise on the quality of the seller’s offerings.
ii. Questions asked from the Competitors:
 If new bake shops open up in your locality, would it be a threat for you?
 If your competitor offers lower prices of the same or substitute products, would it
affect your sales?
iii. Questions asked from the Suppliers:
 Competitors offering the same products affect your sales.
 Increasing prices would affect your sales.
15
5.0 Competitive Advantages
Delizia Hobnob Pie in the Sky

Logo color theme is dark Logo color theme is green, Logo color theme is light
brown. black, brown, and orange. brown, white and sky blue.
Locations: Locations: Locations:
 Kahayban-e-Seher  Muhammad Ali  Gulistan-e-Johar

 Khayaban-e-Badar Society  Mohd. Ali Society
 Gulistan-e-Johar  Badar Commercial  Zamzama
 Khayaban-e-Jami  Boat Basin  Gulshan-e-Iqbal
 North Nazimabad  Gulshan-e-Iqbal  Bahadurabad
 BMCHS Sharafabad  Khayaban-e-  Shujaat total Pump
 Malir Cantonment Shamsheer  Bait-ul-Mukaraam
 Gulshan-e-Iqbal  Defence market  Khayaban-e-Badar
 Zamzama  Khayaban-e-Bahria
 Khayaban-e-Saadi  Askari IV
 Khayaban-e-Jami  Boulevard Road
 Shahbaz Market  North Nazimabad
 khayaban-e-Badar  Malir Cantonment
 Bahadurabad
 North Nazmabad
 Sindhi Muslim
 Gulistan-e-Johar
Cake tray is dark-brown in Cake tray is golden in color. Cake tray is golden in color.
color.
Cupcake liners dark-brown in Cupcake liners dark-brown in Cupcake liners white in color.
color. color.
Logo without a slogan. Logo with a slogan. Logo without a slogan.
Brand name in a logo, written Brand name in a logo, written Brand name in a logo, written
in a straight style in a slightly curved style in a curved style
It’s established in 2014. It’s established in 1998. It’s established in 2001.
It offers items including It offers items including It offers items including

cakes, cupcakes, brownies, cakes, brownies, cupcakes, cheesecakes, cupcakes,
16
fondant cakes, pie, sundaes, doughnuts, ice-cream tiramisu, brownies, cookies,

muffins, chocolate lava and brownie, cookies, vol au lemon bars, chocolate
much more. vents, beef sausage rolls, mousse, chocolate truffles,
pizza, wraps, sandwiches, quiche, whole grain bread,
tarts, and much more. sandwiches, personalized
cakes and much more.
Delizia didn’t cater into Hobnob also cater into savory Pie in the sky also cater into
savory items. items. savory items.
No custom made cakes. No custom made cakes. It provides the special

services of custom made
cakes.
Price Range of brownies and Price Range of cupcakes and Price range of brownies:
cupcakes: From 80 – 120 brownies: From 80 – 110 From 90 – 125
Price Range of cakes: From Price Range of cakes: From Price range of cakes: from
1000 - 2200 800 – 1300 890 - 1550
224585 people like delizia on 59.518 people like hobnob on 104148 people like pie in the
facebook facebook sky on facebook
224322 people follow them 59581 people follow on 103909 people follow them
on facebook facebook on facebook
2951 followers on instagram 689 followers on instagram 5694 followers on instagram
Delizia has 308 following on Hobnob has 25 following on Pie in the sky has 68
instagram insta followers on instangram
Delizia has 54 post on Hobnob has 96 post on insta Pie in the sky has 545 post on
instagram instagram
Delizia uses brown and Hobnob was green brown and Pie in the sky uses blue
golden theme yellow theme colour theme.
Best cake is Nutella cake Best cake is Chocolate fudge Best cake is Chocolate malt
cake cake
It does not have a café. Also have a café named, Also have a café named,
‘Hobnob Café’. ‘Chatterbox’.
17
6.0 SWOT Analysis
SWOT Analysis for Sweet Cravings

Strengths Weaknesses Opportunities Threats
 Sweet Cravings offers  New entrant in  Bringing more  High competition

unique products. the market. unique products in market.
 Sweet Cravings offers  Strong in future.  Threats from new
products in a competition with  Heavy entrants.
reasonable price. Pie in the Sky. investment in
 Sweet Cravings  High brand R&D
promises maximum switching because Department.
quantity in minimum of many options
price. available in the
 Sweet Cravings market.
focuses on hygienic
environment in which
it makes its products.
 Sweet Cravings
provides consistent
quality to its
customers.
18
6.1 Competitors’ Analysis
Delizia Pie in the Sky Hobnob
Strengths The strong affiliation that  New and different Strong loyal
cakes and pastries hold with varieties of cakes and
customer/menu
celebratory occasions and pastry or bread have
gifting makes exclusive and been introduced- options/variety/able to
premium positioning easier benefit of product
provide healthy options
to convey / cheap in price. differentiation.
 Experienced staff is to customers/analysis of
hired who is expertise market.
staff.
Weaknesses  New in this industry. Financing: however Poor service in home

 Lack of presence in unforeseen expenditure or
delivery/lack of
emerging markets poor sales will threaten cash
means low brand position. managerial depth n
awareness. talent/below average
marketing skills.
Opportunities  Scope for expansion  Expansion of product 1000 consumers

is high with respect line in future with the
daily/external conditions
to menu and introduction of more
locations. bakery products. that are helpful for
 Focus more on kids  Scope for expansion achieving the objective.
and youngsters. with the
establishment of our
bakery.
 Growing concern for
health and freshly
made cakes and
breads.
Threats  Stiff competition Local competition: existing Pie in the sky is the
from competitors and potential. major threat/external
offering similar threat.
products.
 Major threats are
PIE IN THE SKY,
19
RED RIDING
HOOD and hobnob.
Strategy At Delizia we serve you Just like the delicious To give our customers
with premium quality baked ingredients put in to making the most authentic &
goods made with love using the perfect piece of pie, artisan bakery experience
carefully sourced many ingredients have gone at the best price. Whether
ingredients, blended in our in to making us the you want bread for
special recipes that keep us irresistible bakery we are! breakfast, quick bites for
just ‘That’ step ahead of the Here’s our recipe! Pie in the tea, a celebration cake, or
rest. Sky is proud to use only the a cookie, we are just
highest quality ingredients in around the corner to
products. From sweet to make every day special.
savory, we have built our
reputation by offering quality
in all our items.
Price Differentiation  Products: Cakes,  Products: Cakes,  Products: Cakes,

cupcakes and sandwiches, brownies, tarts,
brownies brownies, pie, bread cookies, patties,
 Price Range of  Price range of desserts
brownies and brownies: From 90 –  Price Range of
cupcakes: From 80 – 125 cupcakes and
120  Price range of cakes: brownies: From
 Price Range of from 890 - 1550 80 – 110
cakes: From 1000 -  Price Range of
2200 cakes: From 800
– 1300
6.2 Market Based View (MBV)
Market based view (MBV) of strategy designs the company policies and strategy based on the
trends and the nature of the industry's environment. It helps in selecting the market combination
for the product, in which the company utilizes its strategy. The strategy helps in designing the
structure and strategy of the company based on the market analysis of the industry.
20
6.3 Competitive Advantages from A Customer’s Perspective
Buying Criteria Weight Performance Compared to Strongest Competitor Weighted Score

(0 = About the same, 1 = Better, 2 = Much Better)
0 1 2
Unique Taste 15 30
Product Quality 25 50
Brand Image 10 10
Price 10 10
Assortment 5 5
Innovative 15 30
Attractive Packaging 10 20
Need Satisfaction 10 20
21
6.4 Product Life Cycle
6.5 Market Characteristics across the Product Life Cycle
Differences based on:
 Price
 Geographic Segmentation
 Cost
 Innovation
22
7.0 The Hexagon
Who? Sweet Cravings What? Sweet Cravings is a

bakeshop offering Brigadeiro
tarts to its customers.
Slogan: Piece Bara Tart Hai.
Color Theme: Pink and Purple
Where? Iqra University

When? 19th April’18
EDC Campus.
Why? How?
 New Combination: Sweet  A Brazilian dessert, It is a
Cravings will be combining unique combination
the two most wanted things away from regular cakes
‘Oreos’ and ‘Dark and cupcake style
Chocolate’, to give you a desserts out there.
unique taste.  99.9% Hygiene
 Trend Followers: Sweet guaranteed
Cravings will be setting a  Reasonable Price
new trend, as people love  Huge portions for a
to try new things and they reasonable price
love to follow the trend, so  Satisfaction
they definitely going to try
out Sweet Cravings’
Brigadeiro Tarts.
 Chocolate Lovers:
Chocolate lovers will
definitely give this
chocolaty dessert a try.
23
8.0 Perceptual Map
Graph 1
Sweet
Sweet
Cravings
Cravings Delizia
Quality
Hobnob
Price
Graph 2
Sweet
Cravings
Delizia
Hygiene
Hobnob
Factor
Price
24
Graph 3
Sweet
Cravings
Uniqueness Pie in
the Sky
Hobnob
Price
Graph 4
Sweet
Cravings
Quantity
Hobnob
Pie in
the Sky
Price
25
9.0 Ansoff’s Matrix
PRODUCTS
Existing New
Market Penetration Strategy Product Development Strategy

Existing
 Fondant Cakes
 Brigadeiro Tarts
 Mocktails
 Iqra University  Pizza
 Pasta
 Iqra University
MARKETS
MARKETS
Market Development Strategy Diversification Strategy

New
 Clothing
 Brigadeiro Tarts
 Bahadurabad
 Bahadurabad
26
9.1 Conglomerate Diversification Strategy
In business, a conglomerate is a company involved in multiple lines of business that have little
relationship to one another. One well-known example is Warren Buffett's Berkshire Hathaway,
which owns companies as varied as utilities, newspapers, food processors and furniture stores.
Conglomerate diversity, then, refers to diversification by entering entirely new and unrelated
lines of business.
9.2 Marketing Mix Price
Competitive Pricing:
Competitive pricing is setting the price of a product or service based on what the competition is
charging. This pricing method is used more often by businesses selling similar products, since
services can vary from business to business, while the attributes of a product remain similar.
9.3 Packaging Strategy
Sweet Cravings uses simple packaging.
Mixed Bundling:
A strategy observed by managerial economists that increases profits for business is mixed
bundling. Mixed bundling allows customers to purchase the goods either together as a bundle or
separately.
27
10.0 Brand Development Strategy
Product Category
Existing New
Line Extension Brand Extension

Existing
 Pastries & Puffs  Café Delizioso

Brand Name
MARKETS
Multi Brands New Brands

New
 Tango
 Mocktails
 Pasta
 Pizza
28
10.1 Costing
Capital: Rs.6000
Raw Materials (Inventory): 2500
Ingredients: 2000
Advertising: Expense: 1000
Miscellaneous Expenses: 500
29
11.0 Conclusion & Recommendation

We have learned from this experience that starting a business or being an entrepreneur is not a
difficult task, all it requires is your will and your passion towards achieving your objective. Just
like this, we have been successful in setting up our own bake shop named ‘Sweet Cravings’ and
we hope to expand our business in future. If you want to be an ‘Entrepreneur’ and you have a
good idea take the plunge and with your hard work and sacrifice you will achieve your goals.
30
References:
http://www.businessdictionary.com/definition/geographic-segmentation.html
https://en.wikipedia.org/wiki/Karachi
https://en.wikipedia.org/wiki/Geography_of_Pakistan
https://en.wikipedia.org/wiki/Sindh
https://en.wikipedia.org/wiki/Climate_of_Karachi
http://qa.answers.com/Q/Example_of_Behavioral_Segmentation
https://study.com/academy/lesson/what-is-demographic-segmentation-in-marketing-definition-
advantages-disadvantages.html
https://www.google.com.pk/amp/www.getbrandwise.com/branding-blog/bid/18622/What-are-
marketing-psychographics%3fhs_amp=true
http://www.businessdictionary.com/definition/differentiated-marketing.html
https://www.investopedia.com/terms/p/porter.asp#ixzz5BvjJzbCq
https://www.investopedia.com/terms/m/macro-environment.asp
https://www.professionalacademy.com/blogs-and-advice/marketing-theories---pestel-analysis
https://yourbusiness.azcentral.com/difference-between-conglomerate-concentric-diversity-
24681.html
https://www.investopedia.com/terms/c/competitive-pricing.asp#ixzz5CqzC3oVS
http://www.dummies.com/education/economics/how-to-use-mixed-bundling-to-increase-profits/
https://www.ukessays.com/essays/business/resource-based-and-market-based-view-of-strategy-
business-essay.php
31

Marketing Plan (Sweet Cravings)

Încărcat de

Informații document

Drepturi de autor

Formate disponibile

Partajați acest document

Partajați sau inserați document

Opțiuni de partajare

Vi se pare util acest document?

Este necorespunzător acest conținut?

Drepturi de autor:

Formate disponibile

Marketing Plan (Sweet Cravings)

Încărcat de

Drepturi de autor:

Formate disponibile

Marketing Plan Sweet Cravings Entrepreneurship I / 2018

Arooba Fatima 27847

Submitted as mandatory requirement for the course “Entrepreneurship I” in the

Executive Summary ............................................................................................................ 5

1.0 Company Background .................................................................................................. 6

1.1 Mission Statemnt .................................................................................................... 6

1.2 Vision Statement ..................................................................................................... 6

2.0 Target Market................................................................................................................ 6

2.1 Geographic .................................................................................................................... 7

2.2 Demographics ............................................................................................................... 7

2.3 Psychographics ............................................................................................................. 8

2.4 Behavioral ..................................................................................................................... 9

2.5 Differentiation ............................................................................................................... 9

2.6 Positioning .................................................................................................................... 9

2.7 Differentiated Strategy ................................................................................................ 10

2.8 Porter’s Five Forces .................................................................................................... 10

3.0 Macro Environment .................................................................................................... 12

3.1 PESTEL Analysis ....................................................................................................... 12

4.0 Industrial Analysis ..................................................................................................... 14

5.0 Competitive Advantages ............................................................................................. 16

6.0 SWOT Analysis……………….....….………………………………………………..18

6.1 Competitors’ Analysis…..……………………………………………………………19

6.2 Market Based View..................................................................................................... 20

6.3 Competitive Advantages from a Customer’s Perspective ......................................... 21

6.4 Product Life Cycle ..................................................................................................... 22

6.5 Market Characteristics ................................................................................................ 22

7.0 The Hexagon ............................................................................................................... 23

8.0 Perceptual Map ........................................................................................................... 24

9.0 Ansoff’s Matrix ........................................................................................................... 26

9.1 Conglomerate Diversification Strategy....................................................................... 27

9.2 Marketing Mix Price ................................................................................................... 27

9.3 Packaging Strategy...................................................................................................... 27

10.0 Brand Development Strategy .................................................................................... 28

10.1 Costing ...................................................................................................................... 29

11.0 Conclusion & Recommendation ............................................................................... 30

1.1 Mission Statement

2.0 Target Market

Cravings’ products fit for every occasion.

advertising and sales efforts there.

 Urban, suburban, rural: Urban

 City size: 3780 sq. km

 Country size: 796,096 sq. km

 State size: 140,914 sq. km

 Market density: 16000

 Climate: Moderate, Humidity

 Terrain: Iqra university

Demographic segmentation is market segmentation according to age, race, religion, gender,

markets to help an organization target its consumers more accurately.

 Age: 3 and above

 Gender: Male and Female

 Race: No discrimination on the basis of race

 Ethnicity: For all ethnic groups

 Income: 20,000 and above

 Education: For everyone (literate and illiterate)

 Occupation: Suitable for all occupations

 Family Size: For small, big or medium sized families

parenting: babies through adolescents, launching adult children, retirement or senior

 Religion: For all religions

 Social Class: Upper middle, lower uppers, upper uppers.

 Personality Attributes: For all personality types

 Motives: To satisfy sweet cravings

Behavioral Segmentation is market segmentation based on certain consumer behavior

 Volume usage: Heavy users, triers

 End use: Satisfaction for sweet cravings