Goldilocks Marketing Strategy Essay Example

Goldilocks Marketing Strategy Paper Goldilocks EXECUTIVE SUMMARY The Company Goldilocks traces its roots to the collaboration and complementary talents of the women, whose collective love for good food fueled what has been transformed into the global enterprise today. It is known for its delicious pastries and cakes. The Market The market for cakes and pastries never go on the season. Cakes are always present in parties and even big event it also one of favorite dessert of Pilipino. It captures the heart of people who like sweet food and even candies or pastries. The costumer of Goldilocks is at all age, it can also a middle earner and also the higher earner because it offer price affordable and some price which much higher depend on its flavor and sizes. The Competition The competitors of goldilocks are pastries restaurant, caf? ©, red ribbon, French Baker and even the local bakeshop. The competition is high intense because their area lot of choices in the market. The Strategy Goldilocks need to create new varieties of cakes and pastries for the demand of their customer. Expand their stall for more accommodation of customer. Chapter 1 BACKGROUND OF THE STUDY Introduction Goldilocks is the leading brand in the Philippine bakeshop industry, cutting across all conomic classes with a wide variety of products, at prices within the consumers reach. Ask any Pinoy what his favorite Goldilocks products are, and hes sure to name at least one! Apart from being awarded the Superbrand Seal of Recognition, Goldilocks has been elevated to the Hall of Fame in both the Bakeshop and Franchise categories by several awara-glvlng Dooles sucn as tne consumer Union 0T tne pnlllpplnes, Parangal ng Bayan, and the Philippine Franchise Association. We will write a custom essay sample on Goldilocks Marketing Strategy specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Goldilocks Marketing Strategy specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Goldilocks Marketing Strategy specifically for you FOR ONLY $16.38 $13.9/page Hire Writer It was also awarded by DTI Philippine Retailers Association the Outstanding Filipino Retailer for 2006 in the FoodRetail category. This attests to the genuine quality and dedication that Goldilocksputs into its products and services. For 40 thoughtful years, Goldilocks has set the standard for quality cakes, breads, pastries and popular Filipino food. Its mission is to constantly innovate new products that suit the discriminating Filipino taste. The nations favorite bakeshop currently has an outstanding 400 products in its product range. History of The Goldilocks The Goldilocks Fairytale Once upon a time in 1966, two sisters, Milagros and Clarita and their sister-in- law Doris, decided to open a small bakeshop along Pasong Tamo Street in Makati. A third sister, Maria Flor, suggested that they name the enterprise Goldilocks, after the character in a fairy tale. The intention was to make it easier for children and their mothers to remember the bakeshops name, and also because it suggested luck and prosperity. Little did the founders know that this Once Upon a Time would flourish into a real- life Happily Ever After: though hard work, dedication, and an uncompromising commitment to total customer satisfaction, Goldilocks is now the largest Filipino- owned bakeshop chain in the world. As a true global brand, it has expanded to more han 420 stores in the Philippines and overseas markets, and now employs a workforce of over 2,000 people. Likewise, the opening day total sales of P574 back in 1966 has multiplied thousands of times over. Perhaps more impressively, generations of Filipinos consider Goldilocks not only as a brand, but a time-honored family tradition. Now celebrating its 47th year, Goldilocks continues to strengthen its position as a genuine Filipino Icon. Industry definition Bakeshop -a workplace where baked goods (breads and cakes and pastries) are produced or sold bake house, bakery Pastries -A dough of flour, shortening, and ater, used as a base and covering in baked dishes such as pies. Cakes -A sweet baked food made of flour, liquid, eggs, and other ingredients, such as raising agents and flavourings. Flavours -taste, esp. the distinctive taste of something as it is experienced in the mouth. Positioning- Positioning is also defined as the way by which the marketers attempt to create a distinct impression in the customers mind. (http://en. wikipedia. org/wiki/) COMPANY PROFILE A. Goldilocks mission and vision: A strong global brand Mission: Goldilocks symbolizes excellence in products and services that go beyond customer expectation worldwide. Customer service for Goldilocks: The customers deserve the best service, prompt and efficient service, courtesy, and customer satisfaction are just a few ways tp show gratitude to them. B. Values Customer service for Goldilocks: The customers deserve the best service, prompt and efficient service, courtesy, and customer satisfaction are Just a few ways to show gratitude to them. C. Awards: Taste success with a Goldilocks Franchise. Join the Goldilocks franchise family. With over 40 years of experience, more than 300 stores worldwide and the 2005 Hall of Fame Award for Outstanding Filipino Franchise of the Year, you are assured of sweet uccess. Brand Leadership Goldilocks is the leading brand in the Philippine bakeshop industry, cutting across all economic classes with a wide variety of products, at prices within the consumers reach. Ask any Pinoy what his favourite Goldilocks products are, and hes sure to name at least one! Mark of Excellence Apart from being awarded the Super brand Seal of Recognition, Goldilocks was Outstanding Filipino Retailer for 2006 in the Food Retail Category, and elevated toa Hall of Fame in 2010 in both the Bakeshop and Franchise categories by several award-giving bodies such s the Consumer Union of the Philippines, Parangal ng Bayan, and the Philippine Franchise Association. It was also awarded by DTI Philippine Retailers Association the Outstanding Filipino Retailer for 2006 in the Food Retail category and in 2010 Hall of Fame Award for Outstanding Filipino Retailer This attests to the genuine quality and dedication that Goldilocks puts into its products and dedication that Goldilocks puts into its products and services. Service and Reliability The thoughtful nature of Goldilocks is seen not only in its products but in its superior service as well. Goldilocks provides continuing support and advisory services on store operations, local store marketing plans, financial data analysis, and market development-all designed to enhance the franchisees store management skills. Excellent Operating Systems Goldilocks comprehensive training and quality systems provide the framework to support its growing network of stores. It is committed to constantly innovate and provide quality products and services. Breakthrough Concepts Products that constantly delight and excite consumers! Only Goldilocks has unique concepts such as Decorate Your Cake, Go Lite, Pinoydeli, Bitbit Packs, Happy Goldi Birthday Party, and many more. Innovate Store Designs and Layout Goldilocks continuously updates their store concept and design to address specific market needs. It provides point of sale materials such as menu boards and advertising material D. Warranty Satisfaction Guaranteed, or your money back. If we cant get the Mattress your body needs within 100 days (which 95% of our customers find we can see below), we will refund your purchase price. You only pay the shipping. The comfort experts at FloBeds can help you determine what firmness is best Tor you, Dasea on wnat you nave Deen sleeping on ano wnat you ao ana dont Ilke about your old mattress. Our exclusive Mattress Selector helps you decide which model is right for you. If you get it wrong, well still make right. 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For reference, our current Core Prices (Soft to XFirm) are: Blended Queen. $350 Blended King. .. $400 Natural Queen. $399 Natural King.. $499 Here Is a llstlng 0T all current component prlces tnat would apply today. Electrical Adjustable Base Purchasers: Note, if you are buying an electric adjustable base, unlike a FloBeds Slat Foundation which ships via UPS, Adjustable beds ship via common carrier. In the interest of full disclosure, we want you to know the freight to return a Dual King Adjustable Bed will be in the $300-400 range. That combined with the original shipping means you are risking serious dollars. On the other hand, in the rare instance you find our mattress is not right, you may want to keep the base with can be used with any flexible mattress. Objective of the study OVERALL AIMS AND OBJECTIVES to provide a safe, secure, stimulating and caring environment in which children feel secure to explore and experiment confidently; to use assessment, recording and reporting to promote continuity of learning; to work in partnership with parents to meet every childs individual needs; to develop a curriculum which will include suitable learning opportunities and fun activities for all the children taking into ccount age and ability which allows for creativity and imagination; to have an appropriate range of policies and procedures which support lifelong learning; to encourage staff to reach their full potential through training opportunities, teamwork, regular appraisals and recognition of skills; work within a framework which ensures equality of opportunity for all children and families. Scope and Limitation This study is only limited in the brand Goldilocks for its product innovation, product positioning and market growth. CHAPTER 2 TOOLS AND TECHNIQUES IN DEVELOPING Goldilocks STRATEGIC MARKETING The Porters Five Forces tool is a simple but powerful tool for understanding where power lies in a business situation. This is useful, because it helps you understand both the strength of your current competitive position, and the strength of a position youre considering moving into. With a clear understanding of where power lies, you can take fair advantage of a situation of strength, improve a situation of weakness, and avoid taking wrong steps. This makes it an important part of your planning toolkit. Conventionally, the tool is used to identify whether new products, services or businesses have the potential to be profitable. However it can be very illuminating when used to understand the balance of power in other situations STEEPLE ANALYSIS SOCIAL Being a sweet lover country pastries can be easily accepted in the market. Children or adult can be the target market of the products offered by Goldilocks and being a celebration-oriented, cakes and other offering of the company has a great potential to sell its products. TECHNOLOGICAL In baking, there are upgraded ovens and equipments used. The technology today enhances the efficiency in making every products that result to less-cost pricing strategy. ECONOMIC Because of the inflation rate of some of the ingredients of pastry products like flour and sugar there is a tendency of adjusting some of the factors in considering the pricing strategy of every products. It can be to increase the price or to decrease the level of amount of the ingredients in some of the products. The economic status of the country greatly affect every company and it has a great impact in the marketing mix and strategies of the company. ENVIRONMENT In environmental factors, todays farming is in average level because we import some of the ingredients of pastries. Because the country is a typhoon prone are there are ossibilities that there can be a shortage in sugar or flour that can result to shortage. However, they have a alternate solution for the supplies needed in making the products. The products offered by the company is highly dependent on agricultural products thus environmental factors should be monitored. POLITICAL The government monitors the exportation and importation of products that contributes a lot in the industry because some of the agricultural products especially the wheat, flour and sugar are from other countries. If they will not monitor it correctly it will affect the operation of the company and the whole pastry industry. LEGAL There are laws that protect the rights of the industry having ceiling prices of products and regarding increasing and decreasing of prices. The government protects the consumer by analysing first the situation before giving inflation in every products and services. ETHICAL I nere are department 0T nealtn monltors tne operatlon process, quallty control ana the cleanliness of the food offered in the food industry. Checking the ethics how the products are prepared and made to protect the health of the consumers. The company ensures that cleanliness and quality are offered in every products that they sell. fresh from the oven. THE ANSOFF MATRIX Successful businesspeople spend a lot of time thinking about how they can increase profits. Theyll typically have hundreds of ideas about things they could do, including developing new products, opening up new markets and new channels, and launching new marketing campaigns. In the same way, people within organizations often have many different ideas about how they want to progress their careers. Perhaps they want to develop new skills, move into new roles, and even work in new industries. hat a particular strategy will expose you to, the idea being that each time you move into a new quadrant (horizontally or vertically) you increase risk. http:// www. mindtools. com/pages/article/newTMC_90. htm#sthash. KwY4iomd. dpuf) The Ansoff Matrix Business Market De velopment Diversification As the company has penetrated the country by having different branches the Company will start to go outside country who has a large population of Filipinos. (e. g countries who has a many OFW,s) Targeting the every Filipino family who give importance to celebration and memories. The company will start to offer other products other than pastries and cakes. Start offering main dishes and other products of different provinces like (bagoong, tuna,sardines. Etc. The company ell offer a fast food type in some of the branches of the Company. Market Penetration Product Development Advertising that the company is giving importance to Filipino cuisine and Filipino values. To promote that the company sell the Filipinos cuisine pride that will has a delicious taste that every Filipino will love. Introduce a loyalty scheme in every products of the company. Informing the customer that the company give value to the culture of the Filipino consumer to get their interest and care. Upgrade the existing packaging of every products that shows how happy to buy the products. Offer related service, party organizing and related products. ffer equipments in baking improve the flavours of the cakes that they offered and having a twist in some of the common flavours so that the customers will not prefer to change their loyalty brand. BCG MATRIX STAR QUESTION MARK CASH COW DOG The company is in the dog column because it has a low market share but has high market g rowth rate Introduction simple bread Growth cakes with icing Maturity cakes with flavors Decline bread PORTFOLIO ANALYSIS According to a 2005 study by AC Nielsen, the worlds leading market research and nformation firm, Goldilocks enjoys a total product awareness of 100 percent, with seven out of 10 respondents mentioning it first. More impressively, Goldilocks has managed a full conversion of awareness-to-trial, and has done exceedingly well in retaining trial to regular purchase. It enjoys a committed customer base, and continues to attract even more. MARKET POSITIONING The market position of Goldilocks in the market of pastries and bakeries is very strong that every Filipinos recognize cakes brand as Goldilocks. The company positioned in the minds of the market as a cake for all occasions and a best gift for celebrations. They caught the position of being the cake for all Filipino who love sweet foods and which give party for everyone. They also penetrated the online shop, and online buying. They make convenience environment and offer different products in different aged levels. They make sure that their products has a quality and will bring happiness to every customer. They also positions as the Pasalubong store for your loved ones. Chapter 3 THE MARKETING PLAN Your company needs a vision, the vision demands a strategy, the strategy requires a plan, and the plan requires action. A Japanese proverb says: Vision without action is daydream. Action without vision is a nightmare. You need to prepare a detailed marketing plan. But it makes more sense to call it a battle plan. Your plan should give you confidence that you will win the war before you engage in the first battle. If you arent introducing something better, newer, faster, or cheaper, you shouldnt enter the market. SITUATION ANALYSIS A systematic collection and evaluation of past and present economical, political, social, and technological data, aimed at identification of internal and external forces that may influence the organizations performance and choice of strategies, nd assessment of the organizations current and future strengths, weaknesses, opportunities. SWOT ANALYSIS STRENGTH They have a strong market position in the market Their products and prices are very competitive in the market. They build brand loyalty in the market. I ney offer aellclous products ana excellent service In Sometimes it is very sweet that is prone to diabetes. Not all stores has a variety of flavours. OPPORTUNITIES The products can be exported to other countries. tnelr customer. There are lots of interested people who loved sweets and can be more loyal to the company. THREATS Many people are now engaging in culinary arts that can cause for more competitors in the future. NATURE OF PRODUCTS Strategic Marketing plan and its link to Corporate Strategy MARKET ANALYSIS Consumer interest in pastries is being sustained by the increased availability of a range of pastries variants. Among the more innovative lines is Goldilocks bakeshop, which claims to give more happiness on every occasion. Initially available in malls. CURRENT CORPORATE AND MARKETING SITUATION KEY MARKET FACTORS Philippine food companies face a number of issues as they compete in the arketplace. The marketing strategy of Red Ribbon bakeshop The following factor had been considered by major industry players to be crutial elements in sustaining competitive strategic marketing performance , Goldilocks being the one of the biggest player thereby adhere to these factor as follows; Advertising appeal Product Quality Price Competitiveness Management Financial Position Customer Loyalty/ Perception (top of mind) Manufacturing Location COMPETITIVE ANALYSIS Red Ribbon Bakeshop Red Ribbon Bakeshop is another popular name in the bakeshop industry of the Philippines. Considered as the direct competitor of Goldilocks, Red Ribbon Bakeshop is known to provide the same type of cakes and pastries available in Goldilocks. Currently, under the management of Jollibee Foods Corporation, Red Ribbon Bakeshop quickly became one of the most accepted and recognized bakeshop across the Philippines. Bizu Patisserie Bizu Philippines Patisserie is considered as one of the new additions to the few popular bakeshops and cafes in the Philippines. Althoug h the name of the bakeshop is more like a French bakeshop, Bizu Patisserie is a proudly Filipino-owned bakeshop in the Philippines.