Complete Understanding of Marketing Industry
This project will elaborate on this aspect of marketing giving the reader a complete understanding of what is to be done when a business enters the marketing industry. This marketing SBA allows one to understand and gain knowledge of how to establish a business by means of organizing the marketing department, doing market research and being aware of government regulations etc. I recommend that this business. The successful completion of this project would not have been possible without the assistance and co-operation of my family, friends and also my teacher.
And most of all to God as without his guidance this project could not have been possible. The method of data collections used in the marketing project was the Questionnaire. Advantages: * It saves time, offers anonymity and is relatively inexpensive to administer * It improves the possibility of the respondents being truthful. Description of the Business Trevi’s Custom Cakes & more is a sole trader business owned by Trevenia Buchanan. It is the proprietor’s intention to establish a bakery in the parish of St. Catherine. This business will mainly be producing custom-made cakes and also other pastries.
This business is of the secondary industry as we produce and sell our goods. We will provide our goods and services to mainly tourism areas. Mission Statement: Produce custom-made cakes and all other products to the best of our ability and at a reasonable price to fit each and every customer’s budget. Organization of Marketing Department The organizational structure of this business is hierarchical, the organizational chart for the business can be found in the appendix, the roles of our marketing personnel are shown below: Marketing Manager: * Develop the marketing strategy and plan. Supervise marketing department employees. * Research and report on external opportunities. Marketing Representative: * Meet with clients to represent the business. * Follow up with existing clientele and customers to maintain professional relationships. * Attend sales meetings, and generate reports and other business documents. Marketing Analyst: * Collect and analyze data to evaluate existing and potential product and service markets. * Identify and monitor competitors and research market conditions or changes in the industry that may affect sales. Use of Technology
The proprietor of Trevi’s Custom Cakes & more will use various types’ technologies in the business to increase productivity and efficiency of operations in the business. Two of these types technology are computers and billboards. * The computers will be used to keep inventory and stocks up to date as well as to keep records of daily transactions made by the business. The computer will also be used to access to internet and create a website for our business; through this we will be able to showcase our products. * The billboards will be used to advertise the business, billboards will be established in St.
Catherine as well as other parishes in well populated areas where it can appeal to many people. This will also make our products more marketable. Market Research Target Population Qualitative: Trevi’s Custom Cakes & more aims to cater to the general public, for instance, people needing cakes for special occasions such as: birthdays, baby showers, anniversary etc. Quantitative: In our endeavors we shall aim to sell to at least 1,500 people per month. Price The price of our products are based on affordability, (the price list can be found in the appendix) Competitors
The business will be competing against fellow bakeries closest to our organization such as Pastry Palace, Oak Mill Bakery and Honey Crust Bakery. My competitors and the business are not situated in the same parish, the competitors were chosen because they seemed worthy of the position, these bakeries are considered to be well recognized bakeries. Product/ Service Trevi’s Custom Cakes & more sell solely its own products. So the brand would include our business name, which will be brightly colored so as to appeal to the customers visually and the business slogan is “We make your SWEET dreams REALITY! , The custom-made cakes will be packaged in a white box (according to size of cake) with the logo and label attached to the cover of each box; however, pastries will be packaged in a small paper bag with the logo on each. An example of the logo is in the appendix. Pricing Strategy Cost plus: the cost of producing the product is calculated and then the percentage added on for profit. The competitor’s prices will be taken into consideration as well as the cost of ingredients and quality and after a profitable income will emerge. This pricing strategy will be used so as to make the price affordable and fair, to both customer and the business.
Place (distribution on channels) Description of distribution channels used As a retailer and also a producer, the business will purchase ingredients from consumers, then convert such ingredients into finished products of high quality and sell to the final consumers at an affordable and reasonable price. Producer Retailer Consumer Limitations * Ingredients from producers may be delayed * Goods may be misdirected * Poor communication Other Suitable Alternatives In the case that the set distribution channel above does not go according to plan the alternative will be to produce then sell to final consumers.
Promotion Mix This will be the way of making our consumers aware of our products and their existence through advertising and sales promotion. Advertising: Trevi’s Custom Cakes & more will have their products advertised through multimedia sources such as radio, television, billboards and the internet. This will highlight features of the business and its products and also educate consumers about their products. Sales Promotion: Sales promotion allows us to see what appeals to customers and what does not, and it also gives the business a jumpstart on sales.
The business will be promoting sales through special offers, coupons and also free sampling. Sales promotion will also increase loyalty and customer awareness. Customer Complaints Customer’s complaint: “I ordered a customized cake for a baby shower and received one for a bachelorette party, how could you have messed up my order like that? ” Owner’s response: My deepest apologies for such a mistake, you are a valued customer, due to this we will make another cake to your specifications, at no cost to you. We assure you that such mistakes have never been made before and will never be made again.
Thank you for your cooperation, do come again. Government Regulations In establishing this business there are certain government regulations that will have an impact on the process. When establishing a business the entrepreneur goes to the Bureau of Standards to register the business to gain permission to operate the business. Certain documentation will also be needed; such as the food handler’s permit. This card will show that our staff is licensed to prepare food. All employees are required to be in possession of a valid food handler permit as stated by the public health act (food handling) regulations 1998.
Without our food handlers permits we should not be serving customers, and doing so may result in the shutting down of our business. (an example of such permit is in the appendix) Ethical Issues This business does not believe in price gouging. Price Gouging refers the pricing of an item above market price. We will prevent this by ensuring that we create affordable prices for our clients. The ethical issue discussed will have great impact on our business if not dealt with or prevented. These impacts may include a decrease in the number of valued customers and profits gained.
This would present a vile image of the business because of the over-pricing of products. 1. Robinson, Hamil, CXC Principles of Business with SBA, Study Guide & Exercises. Carlong Publishers, Kingston 13, Kingston, Jamaica. 2. ORGANIZATIONAL CHART BUSINESS LOGO PRICE LIST Cakes Custom-made………………….. (Depending on quality and ingredients) Pastries Cake slices………………………. $150. 00 Danishes …………………………. $100. 00 Donuts ………………………… … $100. 00 Sugar buns ……………………….. $75. 00 Creme Brulee ……………………. $250. 00 Cupcakes ……………………. ….. $100. 00 Muffins (regular) ……………… … $120. 00 Blueberry muffins ………………. $125. 00 Food Handler’s Permit