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Marketing Report

Just Between Friends Marketing Plan.
by

Magus Smith

on 22 April 2016

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Transcript of Marketing Report

Marketing Report

Objectives
To position Just Between Friends properly in the cakes market to achieve enough success and stability to eventually open her own store front.
Segmentation
These are the segments that can be targeted?
Positioning
To provide delicious homemade, southern desserts personalized for the customer.
Targeting
Current Goal: Primary target area should be special events, restaurants, food trucks, and mail order clients (18-44 yrs).

Future Growth: Supplying retailers, become a preferred vendor of event venue(s), and offices.

Stretch Goal: Increase capacity, sales, and customer base enough to open a store front.
Recommendations
Focus image to underscore "Homemade Southern with Personal Touches."
Increase Sales
Increase sales to be able to support working full time and future growth.
Find Areas of Expansion
Locate possible avenues to increase sales through expansion of goods or services.
Position for Storefront
Grow JBF's footprint to be able to support a storefront.
Psychographic
Feel good food!
Demographic
Offering Expansion
Emphasize the Cup Cake Line
Add a few more Southern Pies
Create some Seasonal Offerings
Advertise on Delivery Vehicle
This will give JBF free advertising while delivering her goods.
Become a More Active Supplier
Supply to non-dessert food trucks, and other restaurants. Possibly even grocery stores in the future.
Customer
Company
Competition
5 C's
Collaborators
Climate
STP
SWOT
Strengths
Weaknesses
Opportunities
Threats
Product
Homemade Desserts, Bite-Sized Cakes, Personalized Packaging, Dessert Catering, and Special Events
Place
Online
Restaurants, Corporate Events, Corporate Events, and Food Trucks
Delivery Radius of 30 Miles
Bridal and Trade Shows
Price
Dessert Low End High End
Cake Balls $2.00 $2.85
Cakes $15.00 $100s
Cup Cakes $1.50 $3.75
Mini Cup Cakes $1.75 $2.00
Pies $20.00 $27.50
4 P's
Promotion
Discounts for Referring a Friend
Monthly Advertised Specials (Groupon)
Vendor Shows
“Free” Incentives
Gift Certificates or Cards
Loyalty Cards
Collaborators are confined to suppliers such as local grocery and craft stores ( Walmart, HEB, Michael’s) and a few national retailers (Tennessee Wraps, Burton & Burton, Uline).
The baked goods industry is highly fragmented and mature. Most competitors cross all of the same product lines. There are four types of competition:
Local Bakeries
Three Brothers Bakery, Acadia Bakery, Dessert Gallery, Fluff Bake Bar
Local Grocery Stores
Randall’s, Kroger’s, HEB
Local Caterers
Astral Catering, Duet Desserts and Catering, French Corner
Dessert Trucks
Angie’s Cake, Custom Confections, and Frosted Betty
Personalized
Home Made
Easily Customizable
High Profit Margin
Low Overhead
Understaffed
Limited Kitchen
Limited Customer Base
Lack of Capital
Advertising
Supplying to Non-Dessert Food Trucks
Resale to more Restaurants
Supply other Non-Bakery Retailers
Parties, Events, Showers, and Weddings
Cupcakes and Southern Styled Foods are Popular
Intense Competition
Unstable Economy
Health Trends
Seasonal Purchasing Trends
Social Media Advertising
Become a lot more active on social media. Advertise deals, electronic press releases, and continue to exhibit
desserts. Best venues would be:
Better Photographs
For your website and main advertising, either stage and shoot new product pictures or pay a photographer to obtain higher quality images of the product. Also stage the product to promote your Southern, Homemade Flair.
Update Website
The internet is JBF's only store front. It should be updated with better photos, purchase engine, and monthly deals. Wix.com is an easy to use service to create a website.
A new domain name would present a more professional image. Godaddy.com has yearly deals for under $20.
Hire an Advertising Firm
As capital permits, hire a company to advertise for JBF on the web and social media. Raising JBF's position on a Google search is another way a firm can assist.
People are eating healthy and are Health Conscious which can negatively impact sales
While people are more Health Conscious, most still tend to integrate sweets into their diets
Health codes and current tax structures can restrict profits
Future
A store location in Montrose, Rice Village, or Highland Village
Go State or Nation Wide
Best Age and Income Ranges
People who want a treat, a good gift, or provide something delicious for an occasion.
Homemade desserts comprising of Cakes, Cake Balls and other baked goods
Marketing Materials are Cluttered and Outdated
Advertising consists of JBF's website, Facebook, and Pamphlets
One person Operation
Southern Flair
Facebook
Twitter
Instagram
Yelp
Pinterest
Update Logo
There are many companies online that specialize in simple, but effective logos. Many online companies charge less that $50.
Product
Cakes
Cake Balls
Dessert Bars
Expand Cup Cakes
Add More Southern Pies
Questions?
The Numbers
20% Sold Pies
30% Sold Cakes
50% Sold Cupcakes
Of the 10 Houston Area Business we surveyed we found:
Raise Prices
For some items the market can bear the price increase. Raising profit margins by 6% on cake balls alone can bring in much needed income.
Hire Additional Employees
Once revenue targets are met, additional workers will be required for future growth. It is recommended that you have at least one additional employee while you are still baking from home.
Other Small Bakers
Small bakers like JBF.
Cake Ball Pricing

Current Future Difference
Price

$1.45 $2.00 $0.55
Weekly Revenue

$1450 $2000 $550

Profit Margin

77.14% 83.33% 6.19%
Annual Profits

$58,066 $86,666

$28,600


A 6.19% raise of profit margins can make a large difference!
Currently, if working full time and with price increases JBF can easily make up the $11,000 to break even and start to save for a store.
Store Front Pricing
Separate research would need to be done, but it could range between 40 - 100 K for a store front bakery, and more if it's a cafe.
Geographic
Where JBF can Sell
Comfort Creatures
Celebrators
Adventurers
Gourmets
Gen X and Y
Largest and Best Segment
45% of Population from 18 to 44
Baby Boomers
19.1% of Population from 45 to 64
18 and Below
27% of Population
Middle Class
More volume, less services
Upper Class
Large orders, more personalization
Houston - Urban
Disposable Income, Walk Ins.
Houston - Suburbs
Families, Enjoy Homemade and Southern Flair of JBF.
Rural Texas
Mail order clients.
buildasign.com
-(2) 12"x18" for $23.50
TMAC4U
Azel Agustin
Tirtharaj Bhaumik
Chris Kerr
Adriana Valdez
Magus Smith
Full transcript