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[17]Marketing Plan Summary of Red Ribbon
Myst3ry
4 years ago
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[17 ] Blog Entry:
MARKETING PLAN
Reprint in your blog the executive summary of
your group’s marketing plan.
EXECUTIVE SUMMARY
Red Ribbon is one of the fastest growing bakeshop chains in the country that serves great-
tasting cakes, breads and pastries, bringing back memories of joy and togetherness, family
and home. In every Filipino celebration, whether it’s an everyday family gathering or a
grand feast, Red Ribbon continues to make each moment sweeter to people of all ages.
1. PRODUCT : Black forest with drink
Red Ribbon is geared towards bringing families and friends together with its specialty cakes
and products. It is mainly a bakeshop that offers pastries like mamon, ensaymada, sweets, a
wide variety of specialty cakes, and Red Ribbon rolls. The store also offers made-to-order
and themed cakes.
One of heir best-selling products, termed as ‘Flagship’ products, is their Black Forest Cake.
They are strict mostly in quality and they have a vision of becoming the leading bakeshop
producing quality goods.
Filipinos are also sweet-toothed and usually start their day by drinking something hot in the
morning. Cold drinks are also preferred especially during very hot weathers.
75. PRICE: Php 75.00 – Php 90.00 per order
1. PLACE
The current location of Red Ribbon is within the Divisoria area particularly in Tiano-Neri
Street. Considering that the market output that Red Ribbon may get, there is a big chance of
consumer activity there especially since Divisoria is considered as the “heart” or center of
Cagayan de Oro City. But the threat for that area is the existence of competitors. There are
other pastry shops on that area aside from Red Ribbon.
Since, Red Ribbon aims to be an everyday product, they can also put into consideration the
other market segment, the students of course. It is best to target the students of Xavier
University – Ateneo de Cagayan in selling their products compared to its competitors like
Dunkin Donut. This would be an advantage to the store since it is located across the said
university. The store is also air-conditioned, a factor most students tend to value especially
during warm days.
1. PROMOTION
Red Ribbon (Promotion)
Product: Meal & Dessert
Months Marketing Strategy Description
Updating the facebook page for its new bundle
Facebook
product.
1 poster will be posted outside the store (price
Poster(in a character)
and product only)
January Create a story from the product (about family =
Television (advertisement)
local people
Buy a family package meal then get 4 free
Freebies
mamon
Flyer Product and Price only (50 pieces along divisoria)
There’s a couple photoshop who will be taken to
February Photoshop
a couple who will buy the bundle.
Buy the new bundle product of red ribbon and
Customize there is limited free customize of any product of
red ribbon
There’s a family photo posted with a red ribbon
March product along with others in a bulletin at the side
of the store.
Frame up Photo
It is a limited service for those students who
are graduating in this month to have a 1 frame
up photo with the family
May
There will be a special packaging with the product
Packaging along with brief or personal message to the
person that will be given by the product. It also
offers a single flower if consumer would want to
add it.
Share their experience and stories with their
families or friends in the red ribbon product.
(Photos with their families and friends + the red
ribbon product together with a piece of paper on
July stories which they will write something about this day will
be post in a board)
*There will be a token of participation of 2 red
ribbons. 1 will be attaching to the post and the
other 1 is for a souvenir.
There will be discount coupons that will be given in
every people.
August Coupon
(First 10 people will be given this discount)
Red ribbon will participate in Xavier Intramurals
September Intramurals since it is the next segment that will be
targeted. Coupons and giveaways will be offered.
October Study month Red ribbon will establish a study hub where
students would study for their midterms and finals
exam. Special promos for students will be offered
such as a kind of dessert or snacks.
Let’s give love this Christmas with red ribbons
lovely treats, social outreach programs will be
December Joy
made for the street kids and fun family activities
will be implemented.
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ravenroxas
MARKETING PLAN
raventhebird05
4 years ago
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Reprint in your blog the executive summary of your group’s marketing plan.
Adrian Paras
Shaira Antillon
Christine Almonte
Carl Ludena
Raven Roxas
Marketing Management 5 – G
5 C’s for Red Ribbon
Customers
Target Market
Red Ribbon’s target market is primarily consumers in classes C and D. Class C consumers
are usually average – above average consumers. Class C consumers are usually those in
middle management or those who are supervisors in companies. In the Philippines the
average annual income of a class C consumer is around P603,000. Class D consumers on
the otherhand are more or less those who are earning minimum wage and normally have an
average annual income of P191,000. Red Ribbon wishes to serve the mass with high quality
products obviously because of their mission and vision, which is “To serve great tasting
food bringing the joy of eating to everyone and to be the leader in the bakeshop industry
and the most loved bakeshop brand in the Philippines.”.
Although Red Ribbon targets consumers in classes C and D, they actually have a means of
touching the Classes A and B, which is through their LTO products (Limited Time
Offered). Limited Time Offered products are sold only during a specific time like
Christmas, valentines, etc and are normally sold at a higher price. The advantage of having
LTO products is that during the periods of LTO, Red Ribbon would be able to sell a lot
because of the trend that its only there for the moment so get it ASAP! People with the
capacity to purchase these LTO products would most likely buy them with less hesitation
compared to their normal products.
One of the group’s propositions is to create a line of products, which could primarily target
class A and B consumers. A & B consumers are those who have an average annual income
of P1,857,000 in the Philippines. This market normally has the capacity to purchase most
needs and wants in the Philippines. If Red Ribbon is able to target this market more often
they would most likely result into more sales.
Segmentation
There are 4 consumer markets here in Cagayan De Oro; namely, the class A, B, C and D
consumers. Class A and B consumers in the Philippines have an average annual income of
P1,857,000. Class C consumers have an average annual income of P603,000 and Class D
consumers have an average of P191,000. We will then segment these classes further with
those who purchase food because of brand attributes sought; price, taste, and health
benefits. And we would also segment the classes by age groups from 25-35, 36- 45, 46- 55,
55+.
Red Ribbon’s primary market are those in class C & D. We could then deduce that the
current customers of Red Ribbon given the three segments price, taste and health benefits
that price would be their number one factor to purchasing food products. But ofcourse taste
and health benefits are important to them, price will be the game changer when it comes to
the final purchase decision.
The next segment would be those, who would prefer to buy cakes with great taste. The
possible advantage to this segment would be that they wouldn’t care much about price or
how the product is made but if it taste good it would always result into repeat purchase. The
hard part about this segment is coming up with a taste that’s good but at the same time not
boring or “makasawa”. But if we are able to come up with a great tasting product, Red
Ribbon would be able to have more control when it comes to setting up the price.
The last segment for brand attributes would be the individuals, who are health conscious.
The ones who probably need to maintain their weight. The ones who watch the amount of
calories, fat and sugar that they are eating. The great thing about this segment is that no one
is currently serving this segment when it comes to the pastry industry. Pastries are all about
carbohydrates and sugar, which is a big no no to the weight watching individuals. Being
able to serve this segment would yield high reward at a high risk. This segment is willing to
spend as much as possible as long as it does not disrupt their diet.
Targetting:
The group’s target market for Red Ribbon would be the individuals, who are health
conscious and primarily those in the A & B market. The group will be using more of a
breadth strategy when it comes to serving the health conscious market. Consumers in the A
& B market have more disposable income. And in the generation today it is more expensive
to be healthy. Healthy products these days are more expensive as almost everything is
already processed so fresh products are usually priced higher! A & B consumers have more
income, which makes them the market that is more capable of purchasing “healthy”
products or more willing to purchase these products.
The reason for the age segment would be because there is a larger market for health
conscious individuals in the older markets; most likely those 35 and above. But most likely
we would be serving those in the 36-45 market as they are the ones who are already
professionals and are steadily earning income.
So Red Ribbon will be serving the A & B and the age 36-45 markets as they are the groups
with the most health conscious individuals. Red Ribbon will be making a new line of
products, which will be more “healthy”. More healthy in the sense that these products will
be low in fat and sugar but high in protein and fiber. Red Ribbon has the financial
capabilities of researching ways into creating products high in protein and fiber but low in
fat and sugar. A possible way of doing this would be to using protein powders in
replacement of their sugar powders for flavoring and adding oats into the cakes to increase
the fiber contents.
4 P’s for Red Ribbon
Product
The new product line that the group wishes to add to Red Ribbon’s assortment
of products is the “protein” cakes! Protein cakes will either be made out of whey
protein isolate or soy protein isolate. The new protein cakes will initially come into
three different flavors; chocolate, strawberry and matcha! Our new target market of
those “health-conscious” individuals especially the ones in the A & B consumer
brackets will surely be attracted to our products as it would make them feel less guilty
when eating them. In fact it might make them even feel better, for those who work out,
it could be the best pre – post work out meal. High in protein and in fiber! Those in
the A & B market would be more willing to spend on healthy meals so we are
confident that this would really attract them. Our product would be high in protein,
high in fiber, but as low fat as possible.
Pricing
Our new line of protein cakes will be using four different types of pricing
strategies. Firstly, our product will be a little cost so, which will make us put a higher
margin than the regular cakes of Red Ribbon; whey protein/soy protein isolate is a
little expensive. Second, for the first few months of operations, we would be doing
penetration pricing by selling the product at a lower price, but ofcourse we would be
advertising it as something like 30% off, if you buy the cake right now. So that makes
it similar to promotional pricing, which is the third strategy. But our main strategy
would be premium pricing. We want to position our product as a high class product.
For one, you don’t see anyone selling protein cakes. And two, we are not mass
marketing, so we are really targeting a single market. Without any competition and
without any similar products, we can really price our products high.
Place
Right now, Red Ribbon has a very simple design. Normally they just have their
glassed display and a few “simple” tables or sometimes it could just be a small take out
stall. Red Ribbon is more or less a pastry store that people go in and go out. The group
wishes to change that. Customers will still be able to go in and take out cakes. But we
want to promote Red Ribbon to becoming a pseudo café. The group focuses on
creating more value on Red Ribbon’s already well-known brand. Red Ribbon is
known for serving the mass with high quality yet low cost cakes. Although Red Ribbon
already has a good system working right now, the group wanted to make Red Ribbon
into an experience based organization not jut a product based. We want the market to
see Red Ribbon as a high quality brand not just because of their great products but
also because of their great service, the experience you get from going into their store.
Right now, it is kind of boring going into the stores, the staff aren’t that lively and the
ambiance is sub-par. The group wishes to re-invent the style of the store, by adding
more pleasant music, more comfy chairs and couches, more tables and most especially
create a lively and friendly attitude among the staff.
Promotions
With the new line of products and the reinvented place that we wish to
implement, Red Ribbon will need a lot of advertising. Starting off in Cagayan, Red
Ribbon will create a new facebook page that will be updated regularly. Red Ribbon
must have regular market/promote their products to their consumers regularly.
Maybe held events from facebook, and whoever wins gets a free cake! Red Ribbon will
also be posting posters and flyers all over the city that they are now serving protein
cakes! To be able to ensure a market, Red Ribbon should advertise at gyms, so people
working out can eat their protein cakes either as a pre or post workout meal! Red
Ribbon will be advertising the new cakes and its benefits!
Months Marketing Strategies Description
Posters Flyers and posters will basically
be about introducing what the
Flyers new product is and its benefits!
June Personal selling would be
looking for partners, who would
Direct Marketing be interested in resale of the
protein cakes and also giving
free taste tests
Red Ribbon’s new facebook
page will be made and updated
July Facebook page
regularly with weekly
events/promotions!
By then we would have our very
own Facebook page, during
August we will hold an event,
Social Media Marketing (best where we have our customers
August
photo of our new cake) take and share a photo of our
new protein cake. The ones with
the best photo/most likes would
get a free cake!
By this time, we would have
already finished introducing our
September Direct Marketing product, so we would try to
resell these products to health
stores/gyms
By this time, we need to
New flavors/types of protein recapture our market by
October
cakes introducing a new flavor to the
product.
Right after the semestral break,
everyone must want to lose the
weight they gained over the
November Back to school special!
break, so we will be giving out
coupons that have special
promos for our cakes!
During Christmas our cakes will
December Christmas Special all have a Christmas theme and
would be discounted!
We will be sharing in the
facebook page an event, where
we invite our customers to give
January New Year New Cake Event us a winning idea/flavor to a
new cake! The winning
submission will get 10 P500 gift
certificates from Red Ribbon!
Protein cakes will all be 15% off
perfect for those whose
February Valentines
partners are conscious about
eating healthy!
March Taste testing By March, we should be able to
implement the cake which
would have won from the
January event!
We will implement a loyalty card
system, where customers will
April Loyalty card system either get a discount or a free
product with each succeeding
purchase!
After saturating the market here
in Cagayan, we would then
May Expansion implement this new system to
the rest of the Red Ribbon’s in
the country.
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