Marketing Plan
Marketing Plan
A Marketing Plan
Respectfully Submitted to:
PROF. ANNE JERE L. BAJARIAS
BSBA Faculty
College of Management and Entrepreneurship
Cebu Technological University-Main Campus
A. Company’s Position
Tita Elizabeth Bakeshop is a company that makes yummy bread that everyone
can enjoy without breaking the bank. This is located at Ibabao Rd, Dapitan, Cordova,
Cebu. In 2008, the company was launched by Gilbert Benjamin and his wife Elizabeth
Benjamin, who are business owners. The brand itself provides a selection of affordable
bread. Mr Gilbert's motivation for starting their business was highly attributed to his
previous job as a baker. This motivated them to start their own business which is a
bakeshop since this kind of business is familiar to Mr. Gilbert because of his
background.
The business has grown for such a year now, they were able to buy land and
also a business car, and also 2 motorcycles. They were able to build a 4 story house
here in Cordova. The owner was also able to send his children to prestigious schools
in Ateneo de Cebu. But as time went by and as competition rose, they also saw the
downfall of it. They are still operating their bakery now but only 1 branch remains and it
is located in Ibabao, Cordova, Cebu. Unlike before, they had branches mostly around
Cebu like Pasil, Pardo, Barili, Toledo, Basak Mandaue, and others 3 around Lapu-Lapu
as they focus on their brand in Ibabao, Cordova Cebu. They serve unique affordable
bread and are much cheaper than big bakeshops wherein their prices start at 4 pesos. It
might be cheap but they still maintain the quality of their products. That's why they said
that their price sets them apart from their competitors. Cheaper prices are a great factor
in earning profit slower compared to other businesses.
Their mission is to earn profit. With this, the owner was able to enroll his children
in prestigious schools and also get a more comfortable life. Their goal is to get back
where they were before. To be specific, to become a bigger business within 5-10 years
from now. Additionally, they highly use peer-to-peer marketing also known as word of
mouth. They let people spread their business by sharing their experiences with us with
their peers.
Another goal of the company is to make every bite a special experience and
anyone can buy it because of the affordability. They see themselves as a go-to place for
delicious yet budget-friendly treats. Each treat is carefully made with passion to ensure
it's not only affordable but also super tasty. Their commitment to great taste helps them
build strong connections with their customers, turning every visit into a happy memory.
Tita Elizabeth Bakeshop doesn't just see itself as a bakery; it wants to be your go-to
place for accessible gourmet experiences.
B. Competition
Direct Competitors
State that two businesses provide the same products to meet the demands of the
same market. The products of the companies are comparable, despite differences in
their branding, promotion, values, and tactics. The following are some local bakeshops
that are near Tita Elizabeth Bakeshops and are considered to be their direct competitors:
P21.00
Chocolate Crinkles P6.00
Yoyo P6.00
P6.00
Choco Chip Cookies
P75.00
Banana Loaf
P449.00
P33.00
Torta
P5.00
Deleche
P5.00
Indirect Competitors
Businesses that have different products or services towards Tita Elizabeth
Bakeshop but still provide the same needs to consumers. Below are the following shops
or stores that are near the location of Tita Elizabeth Bakeshop that are considered their
indirect competitors:
P52
P66
P82
P50
Watermelon
P35
C. Product/Service Review
A product review is written material that looks at the advantages and
disadvantages of a certain good or service. While print media may still publish some of
these reviews, the majority of them now reside online. Customers consult product
reviews before making significant purchases.
Ham and Cheese Bread Ham and cheese bread is a savory and flavorful
bread made by combining ham and cheese in
the dough. It can be prepared by mixing the
ingredients before baking, creating a uniform
distribution, or by rolling out the dough and
placing layers of ham and cheese on top. Some
recipes may also include herbs, spices, or P4.00
mustard to enhance the flavor profile. Ham and
cheese bread is typically enjoyed as a snack,
breakfast, or part of a meal, providing a savory
and satisfying taste due to the combination of
salty ham and creamy, melted cheese
ISSUES
Any issue, challenge, or worry that a company or organization may encounter
while conducting business is referred to as a business issue. The business issue is
divided into two (2) categories: minor and major issues.
Major Issues
According to Project Management, a “major issue” might be considered a
problem that has a material effect on a project. It typically affects one or more of the
critical aspects of a project, the scope, schedule, or budget. It could also mean that
the quality of the project's end result or product (its “deliverables”) will be reduced or
limited.
2. Location is not suitable The Tita Elizabeth Bakery's location may provide
or appropriate various challenges that might impact its success.
The bakery has a lot of competitors in the area.
There are numerous bakeries within close proximity,
the market might be oversaturated, leading to
intense competition for customers. As previously
discussed, a high concentration of bakeries in the
area can lead to intense competition for customers,
potentially affecting sales and market share. The
second issue is the Parking and Accessibility of the
place has limited parking space or difficult
accessibility. It struggles to attract foot traffic and
potential customers which may discourage them
from visiting, particularly in locations where
convenience is crucial.
3. Poor Product Promotion Tita Elizabeth Bakery has a Facebook page that is
and Advertisement still accessible today, indicating that they attempted
to market their business and product through the
internet but stopped halfway. Their page's latest post
was dated 2020, making it three years ago, and left
them no promotions for their products as of the
moment. This hinders the possible help that a great
promotion can make to their products and moreover
to their business to be able to conquer their goal for
higher sales and more customers to have.
Chapter IV
Objectives
This section of our marketing plan outlines our goals and objectives for
achieving success in Tita Elizabeth Bakeshop. It's all about clear goals that are
well-thought-out and achievable. Each objective is carefully planned with specific
targets and realistic time frames in consideration.
III. Improve the surroundings of the Tita Elizabeth Bakeshop location within
3 months and increase at least 20% customer sales.
A poor small business location makes your company invisible to
your target market. To remain visible and easy to do business with, your
small business marketing needs to make up for it. As we visited the
location of Tita Elizabeth Bakeshop, they lacked the space and flexibility,
thus not convenient for their customers. We understand that choosing
another location for their customer’s convenience is costly and expensive
on the owner’s part. Thus, we will just propose to improve its surroundings,
where, although the space is small, it will make an impression to their
customers that it is clean and hygienic since they are dealing with
consumable goods.
IV. To create a possible plan that can lessen waste production of the ingredients in
the span of 3 months, and decrease expenses by at least 15%.
Over the next three months, the goal is to minimize ingredient waste.
The objectives include meticulously monitoring ingredient usage and
wastage, optimizing recipes to use ingredients more efficiently, training
staff on portion control and proper storage techniques, exploring creative
ways to repurpose leftover ingredients, and collaborating with suppliers to
order only necessary amounts. Through these steps, the bakeshop aims
to significantly decrease ingredient waste, ensuring a more sustainable
and resource-efficient operation. Checking regularly and getting feedback
will help make these plans to reduce waste even better.
SWOT Analysis
A framework called SWOT analysis (strengths, weaknesses, opportunities, and
threats) is used to assess a company's competitive position and create strategic
planning. The SWOT analysis evaluates possibilities for the future and internal and
external influences.
1. Undifferentiated
1. Affordable
2. Common Flavors
2. Quality Taste
3. Poor Product Promotion
3. Owner’s Experience
4. Location
4. Peer -to-Peer Marketing
Strategy 5. Spoilage
Opportunities are openings or potential for a favorable outcome that could help
grow the business, these include low-cost, tasting events, healthy baking recipes,
collaborations with local influencers, increased efficiency, and digital marketing. Threats,
however, are factors that could negatively impact and affect the business of the business
if not prevented early, these threats are identified as intense competition, consumer
preference shift, price fluctuation, limited market reach, new entrants, technology
integration, and price transparency.
Strength-Opportunity
Weakness-Opportunity
● Grabbing the opportunity of the flour price drop to try and produce new
and healthier ingredients to differentiate from the competitor
Tita Elizabeth Bakeshop can benefit during the drop in flour price by
creating new ingredients/products. This can help the shop lessen its expenses
during product research and development. It is important to constantly update the
products and be with the trend for the business to have more and more new
customers appreciate the products Tita Elizabeth Bakeshop is selling. Also,
taking advantage of the drop in flour prices allows Tita Elizabeth Bakeshop to
allocate additional resources to enhance its manufacturing processes and
explore premium or specialty ingredients.
Creating new and healthier products can help the solve the poor
promotion that Tita Elizabeth Bakeshop is currently facing and also be one of the
leading edges they can have against its competing bakeshops like highlighting
the health benefits of each product and educating the consumers on how and
what these ingredients can do towards our body such as higher fiber content,
lower sugar levels, or added vitamins and minerals. Additionally, emphasizing the
quality and sourcing of ingredients can contribute to the overall appeal of Tita
Elizabeth Bakeshop's products. Transparency about the origins of ingredients
and their adherence to ethical or sustainable practices can build trust with
environmentally conscious consumers.
Strength-Threat
● Create new products through leftovers and scraps while making the
recipes to avoid price fluctuation
Weakness-Threat
● Create a new product that competitors cannot reproduce the same product
while maintaining low cost without sacrificing its quality.
Dovetail, E.T. (2023, May 19). Find your competitors: direct vs. indirect competition.
Dovetail. Retrieved November 15, 2023, from
https://dovetail.com/market-research/direct-competition/#:~:text=Indirect%20competitors
%20are%20businesses%20with,they%20fulfill%20the%20same%20need.
(n.d.). Julies Bakeshop. Linked in. Retrieved November 16, 2023, from
https://ph.linkedin.com/in/julie-s-bakeshop-7b127154
(n.d.). San Jose Bakeshop Company Profile. Mynimo. Retrieved November 16, 2023,
from
https://www.mynimo.com/employers/402-san-jose-bakeshop
(n.d.). Minute Burger Menu Prices in the Philippines. MENU PRICE.PH. Retrieved
November 17, 2023, from
https://www.menuprice.ph/minute-burger-menu
(n.d.). West Bound Public Price Market Monitoring. (n.d.). Retrieved November 17, 2023,
from,
https://veggielikes.com/pramis/monitor_shared.php?clicked=Westbound%20Public%20
Market&nm_idnfctn=15
(n.d.). Minor Issues definition. Law Insider. Retrieved November 17, 2023, from,
https://www.lawinsider.com/dictionary/minor-issue#:~:text=Minor%20Issue%20means%2
0a%20non,Sample%201
(n.d.). What does “major issue” mean? Quora. Retrieved November 17, 2023, from
https://www.quora.com/What-does-major-issue-mean#:~:text=A%20%22major%20issue
%22%20typically%20refers,material%20effect%20on%20a%20project.
(n.d.). 10 Baery Classics to Try in the Philippines. Aplay. Retrieved November 17, 2023,
from
https://www.airasia.com/play/assets/blt588f48f8856bb6b4/10-bakery-classics-to-try-in-th
e-philippines
(n.d.). (2023, November 17). 10 Breads and Pastries that Filipinos Love. Delishably.
Retrieved November 17, 2023, from
https://delishably.com/baked-goods/10-Well-Loved-Breads-and-Pastries-that-Filipinos-Fo
ndly-Eat
Tweten, C. (2023, March 21). 5 Trditional Filipino Breads & How to Make Them. Recipe
Roam. Retrieved November 17, 2023, from
https://recipetoroam.com/traditional-filipino-breads
Volkwyn, M., (2022, June 5). 12 Tactics to Get More Product Reviews and Boost Your
Sales. Rock Content. Retrieved November 24, 2023, from
https://rockcontent.com/blog/product-review/#:~:text=A%20product%20review%20is%20
the,experience%20with%20the%20product%20was.
Kenton, W., (2023, October 30). SWOT Analysis: How To With Table and Example.
Investopedia. Retrieved November 24, 2023, from
https://www.investopedia.com/terms/s/swot.asp
(n.d.). (2020, August 25). The Strengths of a Bakery Company. CHRN. Retrieved
November 24, 2023, from
https://smallbusiness.chron.com/strengths-bakery-company-61893.html