Marketing Analysis for Slice of Heaven
Slice of Heaven is a bakeshop that offers desserts for everyone, providing sweet tasting foods to satisfy the sweet tooth of every individual. Our customers are individual who likes sweet treats. Slice of Heaven offers a variety of desserts like cakes, pastries, and baked foods that is available in the store from 9am to 8pm and can be order online in bulk. We were about to introduce in the market our new product called “Fried Oreos”. This is made of Oreos battered with pancakes mix then deep-frying it. We all know that fried foods are not healthy but eating in moderation is okay.
Our marketing objective is to position our brand in the market and an increase of this market share by 10% after a year of operation. Our financial objective is to generate sale to recover our investment after a year. The opportunity we saw in this product is that the fact mostly Filipinos love Oreos, we are trying to give them different experience and taste in their favorite cookie and in a price that they can afford. The great tasting desserts the Slice of Heaven will provide are sure to appeal every individual who have sweet tooth throughout Pampanga area. II. Situational Analysis A. Company Background
Slice of Heaven was founded last September 13, 2006 by Janine Banguguilan, Jonathan Cemania, Angela Del Rosario, Elaine Mandani, and Jacquelyn Roll. The love in baking and making sweet treats of the founders pushed them to try if others will preferred it too. So they created a page online hoping that there is any potential prospect that loves and in need of low- cost great tasting desserts. They first targeted their family and friends to try their product and by words of mouth there is a positive feedback. They decide to put up the business because of overwhelming people ordering online. B. Product Background
One day the group was watching an American reality TV show that the people in there was complaining why Americans love to fry everything. They were eating Oreos that moment so they did try to fry it. They were surprised how good it was. Since it was easy to make and it gives different dessert experience, it gave them the idea that it will be easy to sell. They gave some in the neighborhood and all the feedback was positive. C. Market Profile Our current markets are the female college students and Korean students. Females usually like sweets and soft treats, and surprisingly, Koreans like sweet snacks, too!
D. Competitive Analysis Our direct competitor in the bazaar are the groups that offers sweet treats as well, and in the market is the doughnut industry because it is a sweet treat that can fill your stomach. However, our Fried Oreos is new to Filipino people because it is uncommon here in the country. So people will be curious on how it will taste that it will surprise them how good it was. We can assure to them that it was freshly made each day and the price they pay for it was worth it.
SWOT ANALYSIS
STRENGTHS
- The uniqueness of the product. An Oreo battered in pancake mix then fried it. The customers can have the product as snack or breakfast.
- The product is easy to sell, because most of our target market is fond of eating Oreos, and this time a new version of Oreo.
WEAKNESSESS
- The product cannot be stored for a long time. It is best to consume immediately.
- The product is not known and new in the market.
- The health conscious people will not buy this.
- There are many competitors in the school area that offered sweet treat.
OPPORTUNITY
- The product is easy to sell because most of us Filipinos are fond of eating sweet and the price is very affordable. There will be a greater chance for us to sell all the product because the number of our target market are more than enough, and most of them are students.
- Our place of distribution is very accessible; customers can easily locate our store. And our place of distribution is a place we’re a lot of people pass, it is a crowded place.
THREATS
The product can easily be copied because of its simple ingredients, anyone can easily make the product because of the ingredients that we used and the preparation of it is very easy. Competitors who are selling products that are similar to our product might do anything to be ahead of us, they might sell their product at lower price so that customers will be enticed to buy their products.
OBJECTIVES
MARKETING OBJECTIVE Our marketing objective is to increase sale by increasing the number of people who make a purchase while browsing our online store by 20%, improve product awareness, establish our name in the food industry, and position our brand. The estimated orders that will sell in two day are 167 orders.
FINANCIAL OBJECTIVE
Our financial objective is to generate a sale of P4,843. 00 and sell 167 orders of fried Oreos for two-day Marketing Bazaar. To be able to attain this goal, we must make sure that our product is safe and delicious to eat. We must also promote our product so that we can sell more that our objective.
TARGET MARKET
Our target markets are the student in all levels, teaching personnel, and employee in Holy Angel University.
MARKETING STRATEGIES
PRODUCT STRATEGIES
Fried Oreos is made of Oreo cookies battered in pancake mix then deep frying it. Sprinkle with powdered sugar for presentation.
It is soft to eat, like eating doughnuts and it is good as a snack or dessert. We used Pillsbury Pancake Mix, eggs, vegetable oil, Oreo cookies, and powdered sugar. The paper towel is for absorbing excess oil after frying. * The packaging is cute plastic container with baking paper inside. It protects and adds presentation to the product. * The label is a sticker at the top of the packaging with our company name and product name.
DISTRIBUTION STRATEGIES
Fried Oreos will be distributed inside of Holy Angel University. We will go to every building by bringing our product to them by personal selling and will provide free delivery.
IMPLEMENTATION
Before the day of the bazaar, we roamed around the campus to give free taste of our product. We take pictures of them with the sign “I love Fried Oreos! ” because all of them gave positive feedbacks about the product. We also did interactive marketing by posting on Facebook our tarpaulin design and actual photos of our product.
On the first day of the marketing bazaar, we stick to the plan of selling 3pcs per pack of Fried Oreos at P29. Our designated booth is perfect because it is near the ATM machines and almost at the start of lined-up booths in the bazaar that students and employees really notice our booth. We also posted the photos we took yesterday to use it as advertisement. We are shocked by the number of people buying our product, some requested for per piece selling and to lower the price per pack. We can’t do that because of inventory purposes and the cost of the ingredients.
We also take free deliveries in the school area only and we also take product reservations that is already paid and just delivered it to their room the next day. On the last day, we make a promotion of 6pcs per pack at P55 since we’ve got customers that buy more than two packs. We also did personal selling by going to high school buildings and faculties to sell our product there. On the last hour, we make the price of 3pcs per pack at P25 and 6pcs per pack at P50. Our goal is to sell 500 pieces of Fried Oreos that is equivalent of 167 packs.
On our inventory, we sell 561 pieces equivalent to 187 packs.
LEARNINGS
Teamwork
We were surprised by the number of people went to our booth that we almost ran out of stocks. Janine already went home to make new ones before the crowd went then Jonathan had to go to their house to get them. Before Jonathan arrive, Jean list orders to customers who will purchased more than two to deliver it to their building so they will not wait for it. We he arrived, Angela and Elaine worked on the products then the rest deliver the orders. Being responsible, like working in a real business entity
We were assigned in different task: Janine as the leader and cook, Jonathan as the delivery man and advertising agent, Jaq as the marketing leader and designer, Angela as the cashier, and Elaine as the product assurance. We were expected to do our job efficiently and effectively to achieve success in our bazaar and to meet our objective. In starting a business there should be goal, marketing plan, financial plan, positive attitude, sacrifices, and more effort to get and meet potential buyers.
Being in the marketing world We all experienced yelling to advertise our product and offering it to the passers-by, and going to the building and faculties. We also learned how to face rejection, instead of feeling depressed, we learned how accept it as part of the marketing world and how we can change that into a yes. It is needed to show enthusiasm for the product we are offering, no matter how tired we are. This means that you have to love what you are doing when you are selling the product. At the end of the day it feels good that there’s nothing left in our product, in short our product has been sold out.
How to Handle Customers
Many customers have their different perceptions about our product but we are able to offer them the best experienced they can get once they bought our product.
Marketing Plan
- We now have a guide and background on how business run in real world. How to price, advertise, market, compete, and to value our customers.
- I f we were given the chance to execute the plan as an actual business enterprise, we will establish a dessert shop, will add more products like fried chocolate, fried cloud 9, cakes,pastries, etc.
We will also like to add coffee in the menu to compliment the sweet treats we offered and go with the trend. We like to make the shop more comfortable by adding comfy seats, relaxing ambience, good music, and provide great service for young generation to spend time in there.
