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Unit 9: Marketing Strategy

Extracts from this document...

Introduction

A2 Unit 9 - Marketing Strategy Introduction During this investigation I will be discussing ways to market a business of my choice and make an overall judgement as to which marketing strategies would work well for my business. The business I have chosen to focus on is called Fabulous Frostings which is a small family run bakery which will be situated in the quiet seaside resort of Sutton-on-Sea. My Business Fabulous Frostings will be a family run bakery with all produce sold being baked on site. Products will range from a selection of pastries and cakes sold individually to scones and bread buns being sold in packs of six. By selling day to day necessitates such as bread, the bakery will be more practical than just a luxury one off of a cupcake every now and then. Fabulous Frostings will also be able to make larger cakes to order for special occasions such as Birthdays, Christenings and Weddings. The business will be run by myself and my sister whom both have a keen interest in baking and icing. My retired mother will also be a volunteer, helping us to learn more about baking in large quantities as she has a long history of working in large bakeries and delicatessens. My sister and I will own an equal share in the business with profits and investments being shared 50/50. The image of our business will be very important with my mother helping us to produce cakes to a high standard concentrating particularly on how pretty the cakes are. As previously mentioned, the business will be located in Sutton-on-Sea, this is a small town on the East Coast of Lincolnshire with an average population of 4268, this will alter slightly due to the seasons with tourists entering the resort in the summer and leaving in the winter. A very high percentage of residents of Sutton-on-Sea are retired or elderly people only working part-time, this is also true for the visitors to the resort in the summer. ...read more.

Middle

Product Differentiation Diagram SWOT Analysis I will be using the form of a SWOT analysis to structure my secondary research. I will first put in qualities of my only business and then I will compare this to a further two analysis' of competitors my business may face. SWOT stands for strengths, weaknesses, opportunities and threats. I hope that by using a SWOT analysis I will be able to make sense of the marketing environment and indentify an appropriate marketing strategy for Fabulous Frostings. The competition I have chosen to produce SWOT analyses for are Gray and Goodliffe's and Tesco's online store. The tables for these and the analysis of my own business will be shown on the following pages. SWOT Analysis for Fabulous Frostings SWOT Analysis for Gray and Goodliffe SWOT Analysis for Tesco's Online SWOT Analysis Conclusion When identifying the key qualities of my own businesses and my competitors, I came to realise that even larger more established businesses have flaws and ways to improve. This was especially brought to my concern when researching Tesco's online as I found that, through reading forums and conversations between internet users, prospective customers were unhappy with being expected to give private information about themselves and their bank details and also were disappointed with the lack of personal care. One comments on the website www.verylittlehelps.com read, "They may pretend to know our name and record what we buy but at the end of the day it's only a database, what happened to real people passing the time of day and getting to now a person? Bring back the small shops". By using a SWOT analysis I also identified weaknesses in my own business which I may need to work on such as possibly not employing enough members of staff which could cause tension and poor quality of service. Below I have attempted to identify exactly how, the strengths and weaknesses in particular, of my business compare with those of Tesco's online and Gray and Goodliffe's. ...read more.

Conclusion

and only provide the service once every three months as more of a special treat than a regular occurrence. Do I believe that I have developed a comprehensive strategy which is capable of being achieved? So far, I believe that my marketing strategy is highly capable of being achieved, however, before opening the business I would definitely conduct further market research to make sure that particularly people in Sutton-on-Sea, rather than residents of the surrounding area or tourists during the summer, would use Fabulous Frostings on a regular basis as this is the staple turnover which will keep the business breaking even during the winter months. I would also need to analyse the data collected from my research again with regards to the new marketing warfare strategy which I have chosen. Whilst conducting the research I had in mind that my initial thoughts regarding a strategy centred around that of Guerrilla, I will now need to conduct further research to make sure that I have chosen correctly this time. This further research could simply be in depth analysis of data already collected or the use of further methods of research such as the previously mentioned land use survey. Overall, I would judge that the strategies I have concluded upon, with a little more research, would work very well for Fabulous Frostings if it were to open as a business in Sutton-on-Sea. Appendices Appendix One - Nestoria for Sutton-on-Sea Appendix Two - Neighbourhood Statistics http://neighbourhood.statistics.gov.uk/dissemination/LeadTableView.do?a=3&b=277038&c=LN12+2ND&d=13&e=16&g=467538&i=1001x1003x1004&m=0&r=0&s=1292252636095&enc=1&dsFamilyId=85 Appendix Three - Ofsted http://www.ofsted.gov.uk/oxedu_providers/full/(urn)/120479/ Appendix Four - Statistics on Buying Local http://adventurelightingblog.wordpress.com/2010/03/18/buying-local-a-bright-idea/ Appendix Five - Distances to Work in Rural Areas http://www.informaworld.com/smpp/section~db=all~content=a911040026~fulltext=713240928~dontcount=true#s911049679 Appendix Six - Nestoria for Alford Appendix Seven - ELDC Documents for Sutton-on-Sea North Ward Labour Market Profile 32UCJR : Sutton on Sea North Appendix Eight - ELDC Documents for Sutton-on-Sea South Ward Labour Market Profile 32UCJS : Sutton on Sea South Appendix Nine - ELDC Documents for Alford and Sutton Electoral Division Profile Alford and Sutton ?? ?? ?? ?? Page 1 of 72 Laura Frost 26302 2069 ...read more.

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