Marketing Management For Overview Of Universal Bakery

Introduction

Discuss about the Marketing Management for Overview of Universal Bakery.

The report helps in analysing the entire marketing plan of Universal Bakery that is based in Sydney, Australia. Proper analysis has been done in order to understand the internal and external environment analysis as this will help in understanding the external threats along with the different weaknesses. The entire marketing mix along with marketing segmentation, targeting and positioning is required to be done on the respective bakery that will help in understanding the operational plan of the company effectually as well. The main aim and purpose of the report is to understand the products and services sold by the company along with analysis of the marketing objectives and strategies of the bakery to compete with the other competitors in the market.

Universal Bakery is one of the Australian café along with a bakery that is located in Sydney, Australia. It was built in order to provide their customers with healthy and delicious pastries along with different variety cakes that will create a positive impact on the choice of the customers (Universalbakery.com.au, 2018). The respective bakery named Universal Bakery believes that the different target customers create different baked foods that are healthy and organic in nature as well.

The main goal of the Universal Bakery is to provide the customers with broad variety of the coffee, cakes, pastries along with other various products. The services that will be provided by the respective bakery to their customers such as providing them free home delivery along with providing them different discounts and offers on a specific amount of purchases as this will help them in attracting more customers in the organization as well (Adams, Gabler and Landers 2017). These kind of offering of products and services will assist them in building strong position in the entire city and offering the products at a competitive pricing will help them in delivering quality products in an appropriate manner.

The Universal Bakery has to analyse the entire condition of the present bakery market as this will assist them in understanding their offerings that will be provided by them to the different customers effectively. The main market or the target market will serve the customers from lower, middle and higher income group individuals with charging affordable prices along with rendering different services that will help in putting smile on the faces of the target customers (McDONALD 2016). The respective bakery Universal Bakery will not be discriminating among the different customers in the market.

Background of the Case

The different objectives of the Universal Bakery are as follows:

• To have different pastries along with breads in the different retail stores in Sydney
• To have different kind of brands of breads for the customers in comparison to the other competitors in the market (Hsu 2016)
• To create and have more outlets in the future in different parts of the world
• To constantly increase the clientele, base up to 50% in the next five years as this will assist them in increasing their business successfully

Following are the marketing efforts that has to be analysed and attained by Universal Bakery are as follows:

• To achieve the sustainable growth at 25% annual sales growth
• To attract the entire avalanche of the consumers in Sydney
• To make sure that the hunger is busted in an appropriate manner by making bread available in different manner (Armstrong et al. 2014)

Universal Bakery has to work appropriately as to satisfy the different requirements of the customers in an operative manner. With the different current offerings, this is important to improve the offerings along with being more competent in nature. The internal and external environment analysis is required to be conducted successfully as this will analyse the competitors in the entire market (Armstrong et al. 2014).

In order to analyse the SWOT, it is essential in nature for Universal Bakery to understand the different objectives of the other giant competitors in the entire market. The respective bakery has to analyse the threats and make it their strengths and gain competitive position in the market. Furthermore, the estimated sales of the company have been $10000 and this will help the company in gaining competitive advantage. The different costs such as rent along with the different packaging costs of $20000 have been estimated to gain competitive advantage in the entire economy.

The different marketing strategies along with goals of the company that has to be analysed by Universal Bakery are as follows:

• To identify the different kind of characteristics of the other bakeries that are operating in the respective market (Sheth and Sisodia 2015)
• To properly analyse and identify the business model along with other examination of various types of features of the different products that are sold to them
• To analyse the different major competencies that can be utilised by Universal Bakery as to ensure their sustained growth in the future

The external environmental analysis is essential in nature for Universal Bakery as this helps in understanding the different bargaining power of the other substitutes along with the different kind of threats from the substitutes as well. Furthermore, the Porter’s Five forces model analysis can be done in such a manner that will assist the company in solving the issues excellently and gain competitive advantage as well (Strauss and Frost 2016). The entire external environment significantly impacts and influences the entire environment in such a manner that this affects the business performance negatively and the goals are not being accomplished as well.

With the implementation of the Porter’s Five Forces Model Analysis, the actual analysis of the different suppliers along with the analysis of the various competitors is essential in nature to solve the different issues successfully. The Porter’s Five Forces Analysis will assist in understanding the various other factors that are essential and has to be considered in order to take effective decisions in the future as well (Moutinho and Vargas-Sanchez 2018).

Political Factors is one of the components that is relating to the sourcing of the raw materials and the company has to adhere to environmental and social norms. The other impact is the following of the different rules and regulations in different countries from wherein the company will be purchasing different raw materials (Pride and Ferrell 2016).

Products and Services

There can be different kind of regulatory pressures within the home market in Sydney and proper scrutiny is required to be done on analysing the entire process of the business in an effective manner. There are different other factors that are required to be considered that includes tax policy along with different employment laws in the organization as well to improve the business effectively.

Economic Factors is the other component and this is the other external economic driver of the respective company as well. The respective organization has to deal with different kind of operational costs along with different rising labour costs as well. The inflationary environment along with falling profitability is causing lot of stress and this affects the entire success of the organization as well. The different kind of economic factors include local currency exchange rates along with analysis of the taxation level as well (Gronroosn 2016).

Socio-Cultural Factors are the other component that has to be analysed in an effective manner wherein the Starbucks can offer cheap products and this can require sacrifice quality of the products. The company has to focus more on different other factors such as changes in the lifestyle of the consumers along with changes in the value of the population along with understanding the preferences of the consumers as well (Krishnan and Malick 2015). The changes in the work pattern has to be analysed and identified in an effective manner to understand the preferences effectively.

Technological Factors are the other factor that has to be analysed effectively wherein the company has to majorly use the different kind of technologically implemented resources as to gain competitive advantage in the entire market. Furthermore, the company has to enable the usage of the mobile payments from the customers to gain more testing of the different pin locations and solve the issues effectively (Krishnan and Malick 2015).

Proper SWOT analysis is required to be conducted by Universal bakery as to understand and analyse the different strengths, weaknesses, opportunities and threats.  It is one of the tools that is the strategic planning tool and technique that is used by the companies as to create situational analysis of the organization effectively.

With the help of proper SWOT analysis of Universal bakery, the strengths, weaknesses, opportunities and threats in an appropriate manner. This is essential in nature as to protect the share in market appropriately. The different kind of threats can affect the brand image of the company in the competitive market that has to be handled effectively.

Situation Analysis

Strengths

• Proper availability of different talented bakers in the bakery
• Competitive kind of pricing along with different kind of marketing strategies

Weaknesses

• The company is new in the market and this will become more competitive for them to compete with the other competitors in the market (Baker 2014)
• As it is a new set-up in the market, this will be problematic for the company as to gain more competitive position in the respective market (Kotler, 2015)
• There are existing competitors in the market that can create huge problems for Universal Bakery in gaining their competitive position

Opportunities

• They can introduce new kind of bakery products in their menu as this will help them in making and creating their own position in the competitive market
• Providing high quality products to the different customers with reasonable prices
• The company will be introducing new, experienced and educated bakers in their bakery as this will help the company in establishing their position

Threats

• Low price strategies have to be adopted by the company who are competitors in the market
• Experience of the different competitors is better than Universal bakery and this can cause huge issue for the company as the advertising strategies are better that are used by the other bakeries (Holliman and Rowley 2014)

From the SWOT analysis, it can be analysed that there are different threats that can affect the entire performance of Universal bakery. It has been noticed that the organization requires to utilise the threats as their strengths and weaknesses as their opportunities to gain the competitive position in the entire market. There can be different kind of loyalty programs that can be adopted by the company as this will work towards them in offering better quality services and products to the company appropriately (Kotler, 2015).

Furthermore, it has been noticed that the operations costs are huge in nature and there are different kind of other competing brands. Universal bakery has to start with the e-commerce strategy wherein they will be delivering the different products to the customers with an effective manner. Lastly, the organization named Universal bakery will be providing better quality of the offerings to the customers by indulging themselves into more brand awareness programs appropriately.

There are different kind of marketing goals along with objectives that has to be ascertained to identify the procedures to gain profitability in the market. This will assist the company in gaining brand image and increase their market size effectively as well.  The SMART objectives that has to be ascertained by the respective bakery named Universal bakery are as follows:

• To be more competitive in nature in comparison to the other competitors
• To offer jobs to the different individuals who are bakers
• To generate minimum 30% revenue in the market that will be suitable for the company to become the leading bakery in the next five years successfully (Kotler, 2015)
• To provide excellent quality bakery products and services to the target customers in the entire market in an actual manner
• To become a zero-debt bakery as this will assist the company in maintaining their competitive position in the market

These are the different type of objectives that can be achieved by Universal bakery and these are the specific objectives that has to be ascertained effectively. The different objectives that has been set up by the bakery will be met by them within specific deadline and this will help them in maintaining proper competitive value and advantage in the future as well.

SMART

Specific: Proper building of sales along with making profit in the near future as this assists them in gaining proper competitive value and advantage to increase the brand image.

Measurable: Proper building of different loyalty programs is essential in nature as this helps them in managing and measuring the expectations of the customers and fulfilling their demands effectively as well in the market.

Achievable: The strategy of pricing that has to be adopted by the bakery has to be competitive and this will be easier for them to offer different discounts for the customers to gain competitive position.

Realistic: Universal Bakery has to compete with different competitors in the market with the different utilisation of various resources in the economy. The bakery has to utilise the different resources effectively as to gain more competitive advantage in the economy and they will be providing best quality bakery products to the customers within specific deadline.

Financial Analysis of Foodworks Supermarket

Timed: Universal Bakery will achieve the different types of objectives in fulfilling the different requirements of the customers as this will increase the offers and discounts after being stable in the market that is competitive in nature. The Universal bakery will be providing proper discounts after 3 years when they will be becoming stable.

Proper segmentation, targeting and positioning in nature for the different companies for the different companies as this will help in targeting the customers along with segmenting the market through demographical and behavioural approaches.

Furthermore, in case of Universal Bakery, this is essential in nature to create proper STP of the company to gain competitive advantage in the entire market.

Segmentation: The respective Universal Bakery is essential to conduct the segmentation of the customers in such a manner that will be done on the basis of needs that are changing in nature. Universal bakery uses the demographic and psychographic approach in their segmentation strategy to understand the customers psyche while offering the customers with various kind of cakes and pastries at lowest possible prices.

Targeting:    The main focus of the Universal bakery is on the different kind of customers who are the travellers along with the young generation who are fond of cakes along with breads. The target markets will help in focusing more on their preferences and this will help them in gaining competitive advantage in the market effectively as well.

Positioning: It is the last strategy of the marketing mix that has to be ascertained effectively by Universal bakery in order to position themselves as innovative and the customer centric approach is essential in nature to understand the different needs and they will position themselves in such a manner wherein the different demands of the customers are met effectively.

Marketing mix is essential in nature in different organizations as this is one of the tactics to analyse the right kind of strategy through implementation with effective kind of tactics. The marketing mix is analysed in a respective manner that is accordance to the needs of the customers and this is convenient in nature as well. Furthermore, marketing mix of Universal bakery is done in such a manner that includes:

Product: The different products that will be sold by Universal bakery includes the home-made desserts along with different brownies, cupcakes along with cakes and cookies. The entire selling price needs to include portion of the entire operating expenses in such a manner that this will help them in generating profit effectively (McDonald and Wilson 2016). It will be selling packaged products along with different breads along with home deliveries with providing different offers.

Marketing Goals, Objectives and Strategies

Price: The pricing strategy that will be adopted by Universal Bakery will be reasonable in nature in comparison to the other competitors in the entire market. There will be different size of cakes along with various pricing for all such cakes as well.

Place: The Universal Bakery will be opening different stores in all over the world and this will be helpful in gaining more promotion for selling such products in the market. There are different kind of places wherein this will help the company in gaining more competitive advantage in the market effectively (McDonald and Wilson 2016).

Promotion: Universal Bakery will be using different kind of advertising campaigns such as different advertisements through radio and television along with promoting the products and services through newspaper as to gain competitive advantage in the entire market effectively.

From the implementation plan, it can be analysed that proper ascertainment is required to be done by the respective bakery as this will assist them in improving the brand awareness among the different customers. If the company uses this key performance indicators, this will help them in increasing the sales and the number of customers in the market as well. Furthermore, the number of customers will be increased when there will be more increase in the entire marketing and sales of the products effectively.  There are different areas has to be ascertained effectively that are required to be monitored closely by the bakery that are as follows:

• Revenue- Annual and Monthly
• Client feedback
• Expenses- Annually and monthly
• Improvement in different products and services

Conclusion

Therefore, it can be concluded that the marketing plan is essential in nature and this has been done conducted for the bakery named Universal bakery that is situated in Sydney. Furthermore, the marketing strategies along with mix has been conducted to understand the position of the company in the entire market and solve the issues in an effective manner. The implementation of the four Ps of the marketing has been conducted that has helped the company in gaining competitive advantage and position in the entire market in an effective manner and appropriately as well.

References

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