Malunggay Polvoron
Short Description
HomeMade Malunggay Polvoron...
Description
De La Salle UniversityDasmariñas College of Business Administration and Accountancy
MARKETING PLAN: Malunggay Polvoron
In partial fulfilment of the requirement on Principles of Marketing
Members: Cerbito, Lorelyn Joy L. Datu, Jearyn E. De Guzman, Shaira Gayle E. Ferino, Ma. Micaela G.
Submitted to:
Professor Rhodora Rosales April 2014
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I. Executive Summary Goldolocks have been in the cakes and pastries industry for almost 50 years and have already made a solid name for itself throughout the Philippines and also outside the Philippine borders throughout the years. And as the company grows, the variety and quality of the products they provide also broadens. As we move through the technological age, many people are starting to become health conscious and opt out foods that they deem harmful to their health such as sweets like cakes and pastries which are commonly linked to diabetes. Our new product is tailored to suit the needs of those who are health conscious and those who want to provide only the most nutritious and healthy food for their family. It is pulvoron infused with malunggay, a vegetable known for its various health benefits and nutrients that are packed in it. It bears the same signature taste of the Goldilocks pulvoron with the same affordable price but with a healthy and nutritious twist. In order to make our latest product profitable, we have prepared an intricate marketing strategy that we have carefully studied to make sure that we will be implementing the right decisions and the plan becomes
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a success. From the production down to the promotion is carefully planned and it is evident that quality comes first.
II. Introduction The Goldilocks brand boils down to simple Filipino values, thoughtfulness, care, love for family and excellence. With each product purchased and consumed, customer's don't merely get a delicious slice of cake or a scrumptious dish, but a taste of something truly Pinoy. Filipinos, whether in their native homeland or not, have a deep, passionate and consistent love for food and anything that has to do with it. Since they are natural hospitable and gregarious, food is considered the basis of the social lives of the Filipinos. Not only are the Filipinos known for their cooking, they are also known for their love of sweets– a trait very much reflected on wide variety of delicacies and sweets in the country. More than 80% of advertisements in the country on televisions, radios, newspapers, and magazines are about food. Food is practically found everywhere! Polvoron is a sweet concoction of toasted flour, powdered milk, sugar and butter. According to fatsecrets.com, a serving (2 pieces) of the original flavored goldilocks polvoron contains about 130 calories.
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Polvoron is an ideal desert or a perfect snack – with its milky and sugary taste. However, it is not a healthy option for health conscious people due to its high sugar content. This has inspired us to formulate an exquisite recipe that will make it more nutritious by reducing its sugar and fortifying it with vitamins and minerals. We are offering a polvoron making use of the finest ingredients available that would allow to create a mouthwatering and nutritious delicacy. One taste and you will discover what set this polvoron apart from those in the market.
III. Background of the Study Most Filipinos consider Goldilocks not only a brand, but also a Filipino Institution. In fact its popular tagline, "How thoughtful, how Goldilocks" has evolved over the years into "How thoughtful, how Pinoy (colloquial for 'Filipino')", and later to "Ang sarap magmahal ng Pinoy!” embracing a culture and tradition that goes beyond the name. Now, on its 47th year, Goldilocks further highlights its position as the leading bakeshop brand in the Philippines with its new tagline, "You're the 1, Goldilocks!” Goldilocks traces its roots to the collaboration and complementary
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talents of the women, whose collective love for good food fueled what has been transformed into the global enterprise today. Their love of food, two sisters, Milagros and Clarita and their sisterinlaw Doris, gave birth to Goldilocks in the year 1996, when they decided to open a small bakeshop along Pasong Tamo Street in Makati. Maria Flor, a third sister, later suggested that they name the enterprise "Goldilocks", after the character in a fairy tale. The intention was to make it easier for children and their mothers to remember the bakeshop's name, and also because it suggested luck and prosperity. Now on its 47th year, Goldilocks remains that company and more. At the forefront of its industry, the company enjoys a substantial lead over competitors in all aspects of performance. National consumer surveys have consistently identified Goldilocks as the landslide winner in customer satisfaction indices such as Awareness Conversion (the ability to translate brand awareness to actual trial) and Share of Heart (the emotional approach to measuring preference). From a small bakeshop, Goldilocks is now the largest Filipinoowned bakeshop chain in the world. As a true global brand, it has expanded to more than 420 stores in the Philippines and overseas markets, and now employs a workforce of over 2,000 people. Likewise, the opening day
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total sales of P574 back in 1966 have multiplied thousands of times over. And while it is overwhelmingly evident that Goldilocks has an indelible brand identity in the Philippines, it is also an identity that can be easily communicated and adapted to new markets abroad. Goldilocks is a global brand that has successfully provided 100 percent Filipino alternatives to a wide range of desserts, snack foods, and breads, proving that the Filipino can produce highquality products at par with the best of the rest of the world. Following the principle of "thinking global, strategizing regional, and acting local", it maintains the exact homegrown goodness of its products in overseas markets, but endeavors to acquaint multicultural tastes with its menu items as well. As a result, its hold in the international market continues to strengthen. From one branch in Los Angeles, California in 1976, Goldilocks has expanded to other key cities in the United States such as San Francisco, Las Vegas, Sacramento, and San Diego, for a total of 22 U.S stores. Its first outlet in East Coast will soon open, with others sure to follow. Likewise, the two Goldilocks outlets in Canada will undoubtedly encourage more branches to open due to its remarkable success. Most recently,
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Goldilocks has opened 6 stores in Thailand. Goldilocks has also tapped markets in several other Southeast Asian countries such as Singapore, and Hong Kong. Moreover, it has received a considerable number of requests to open in the Middle East, mostly from Overseas Filipino Workers and expatriates. IV. Current Marketing Situation Goldilocks
JBC
Food ChocoVron
Corporation Product Situation
Global
Corporation Goldilocks have JBC Food Corp. Established in various
food have a wide 2003,
products that are variety
of ChocoVron
mainly sweets and products such as Global Corp. is desserts.
The nuts,
mixed now one of the
company's main nuts,
growing
products are cakes watermelon
producers of
of various kinds. seeds squash polvoron Their products also seeds
and nationwide. The
include other kinds confectionary
company
sweets such as products. These produces polvorons, which products come polvorons of
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comes
with in
different different
different flavours. flavours to suite flavours Recently they have the different widen
to the
expanded and are tastes of the consumers' now also serving consumers.
choice
sets.
other traditional These products They include the Filipino food such also come in ingredients as palabok and their own neat mixed in the dinuguan. These and appealing polvoron in the products
formulated
are packaging.
to
packaging making
the
emulate the taste of
product more
traditional Filipino
appealing to
food. Currently
consumers.
they promote their products through various
online
activities, newspaper ads and occasionally, they
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launch Market Situation
TV
advertisements. The market of JBC Food Corp. ChocoVron Goldilocks
is a company Global Corp.
products is mostly mainly focused started as a people fond of on developing, bakeshop which traditional Filipino producing and is a fast growing food. The company selling snacks. corporation is committed in They providing food of striving
are now. They are
to dedicated in
good quality that develop new giving quality meets the needs products of high food products to and wants of their quality to satisfy their consumers. consumers ensure
to their current They have won that customers and to several awards
consumers
are reach a wider and is still
satisfied and would market remain patronage
to introducing
by striving to give even
better
the products that products
company's
cater to their satisfy
products.
needs.
10
consumers.
to their
Competitive
Goldilocks already As a local brand, ChocoVron
Situation
have an established JBC Food Corp. Global Corp name in the is competing satisfies their industry and have with
other consumers by
been competing international
carefully
with international brand of snacks planning new products opening
by present here in products that stores the Philippines. caters
overseas. As they To be able to needs.
their
By
enter a highly better compete developing and competitive area, with
implementing
Goldilocks strive to international
strategies
to
be more active in products, they make unique the industry by became
a and high quality
improving product member
of products, they
quality and the Snack quality
Food are able to
of Association, an compete in a
management in international
highly
order to meet with corporation.
competitive
consumers'
They also strive industry. They
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expectations.
to make their maintain good products
of management
higher quality within
the
and have set corporation and standards order
in keeps
their
to products
maintain product reasonably quality. They priced. also continue to make
their
products affordable, making their products accessible by people from all Distribution
Goldilocks
Situation
products
walks of life. Dealers
An extensive
are distribute JBC network
distributed
FOOD CORP. dealers
internationally.
products
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nationwide
of
Their stores located internationally. within
distributes
the It is carried by ChocoVron
Philippines,
major grocery Global Corp
U.S.A., Thailand stores
and Canada carry convenience
and products. It is carried
by
it. The company stores located various major have over 390 within
the department
stores in the Philippines. JBC stores, Philippines, 22 Food Corp is convenience stores located in also
exports stores,
the U.S.A., 2 stores their products bakeshops and in Canada and 6 overseas.
malls.
stores in Thailand. The company is also open for exportation of their products to other parts of the world. Macroenvironment Situation
A. Technology From a small At present, the To help keep bakeshop,
13
the company is still pace
with
Goldilocks has now investing and developments in expanded into a looking into the industry and successful company new machines maintain
its
that caters to the that would not competitiveness, needs of its only make the the company consumers. The company more obtained company
used efficient but assistance from
technology in terms also give a the
DOST
of advertising their better quality which helped products as well as product for the them improve how they prepare consumers at their overall their food. In order the
least productivity
to respond to the possible cost. through good growing demands of This is in manufacturing buyers, technology keeping up with practices, is used increase the Rebisco equipment and their production.
Group
of packaging,
Companies'
among others.
VisionMission
Today,
of which JBC ChocoVron
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Food
Global Corp. is
Corporation is a established as part of. We one of the major envision our players in the group to be the processing of dominant snack food products food company that showcase in
the the Filipino flair
Philippines by for ingenuity providing
and quality.
innovative and best
value
products within reach
of
consumers. B. Political And while it is JBC Food ChocoVron is overwhelmingly evident
Corporation is registered with that presently
Goldilocks has an member indelible
a the Bureau of of Food and Drugs,
brand Snack Food (BFAD
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No.
identity in the Association Philippines, it is (SFA),
RDIIRIVF an 3052)and U.S
also an identity that international can be easily snack
FDA
food ( Registration
communicated and organization
No.
adapted to new that includes 11338717940). markets abroad. As such companies Its
2in1
shown by its strong as Frito Lay cookies
and
international
and other big cream variety of
presence,
US snack food chocovron
Goldilocks is a companies.
polvoron is now
global brand that Aside from this, also registered has successfully the company is in provided
the
100 also a member Intellectual
percent Filipino of Institute of Property Office alternatives to a Food wide range of Technologist desserts,
snack and is doing
foods, and breads, research proving that the development to
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(IPO).
Filipino can produce come up with highquality
new
and
products at par with exciting the best of the rest products for the of the world. The local market, so company
is watch out for
expected to comply our exciting with tax regulations, new products laws and other coming out regulations
soon.
regarding import and export of goods not only in the Philippines but only in the countries where
they
branched out. C. Social and Cultural The Goldilocks Since
JBC The company is
brand boils down to Coroporation is also simple
Filipino originally a continuously
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values,
foreign product, guided with its
thoughtfulness,
the company core values:
care, love for was able to faith in God, family,
and determine the excellence,
excellence. With wants each
and quality,
product needs of the industry,
purchased
and Filipinos and credibility, and
consumed,
came up with kinship. Hence,
customer's don't suitable snacks in its quest for merely get a for own unique producing top delicious slice of palettes. cake
or
quality products,
a
the company
scrumptious dish,
also takes care
but a taste of
of its various
something
stakeholders
truly
Pinoy. It caters to
especially in the
the needs of the
community
Filipino
where
palette
it
while showcasing
operates. Social
the beauty of the
responsibility
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Philippine cuisine
has been in its
globally.
priority list over
Most
Filipinos
the years and
consider Goldilocks
has never waned
not only a brand,
in extending
but also a Filipino
assistance to the
Institution. In fact
elderly through
its popular tagline,
the
"How thoughtful,
Mother
how Goldilocks"
Mercy Home for
has evolved over the
the Elderly and
years into "How
Abandoned
thoughtful, how
Foundation in
Pinoy (colloquial
San
for 'Filipino')", and
Laguna.
later to "Ang sarap magmahal
ng
Pinoy!", embracing a culture and tradition that goes
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Mary
of
Pedro
beyond the name. To cater to the Filipinos,
their
target market, from all over the world, they even opened a number of branches outside the country. D. Competion In order to compete In order to To become an with the ever compete with excellent growing
food the continuous provider
of
industry,
growing food ChocoVron
Goldilocks:
industry, JBC food products
1. Maintains brand
a Food of Corporation:
leadership. 2. They provides continu ing support and advisory
1. Continuously
that
are
distinctly Filipino and of
innovate and world
class
manage a quality"; and portfolio of mission,"to products that create and make
services on store
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operations, local
are attuned to ChocoVron
store marketing
the dynamic products
plans, financial
needs and competitive
data analysis,
wants
and market developmentall designed enhance
to the
consumers. 2. Ensure extensive
comprehensive and
quality systems
continues all
working closely with concerned
growing
individual
systems and processes for
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of
its
company and export market.
the
its
people for products for the
growth. framework to 4. Improve
network
foreign markets"
develop their prepare
and
government distribution. 3. Progressively institutions to
skills. 3. Their
channels of
management
support
local
ChocoVron
availability
in
store
provide
of both for the
of products
franchisee's
training
an organized
Product expansion and innovation are also pursued and works are now
stores. It
is
and
underway
committed to
productive
towards meeting
constantly
work
these goals.
innovate and provide quality products and
environment. 5. Ensure that the organizationa
services. 4. They
l structure is
continuously
aligned to the
update
growing
their
store concept
needs of the
and design to
company. 6. Continuously
address specific market needs. It provides point of sale materials such as menu boards
advertising materials.
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and
maintain and upgrade facilities that will increase the level of efficiency and productivity.
E. Economic Goldilocks is the With the strong The leading brand in the position
local
of delicacy
Philippine bakeshop Rebisco Group polvoron industry, cutting of
Food through
across all economic Companies in “ChocoVron” is classes with a wide its
variety of products, market,
home now
being
the exported to the
at prices within the company has United States consumers' reach. It now set its after having offers a wide range sights
joined
of pastries and internationally.
international
baked goods that Through the fairs and having not only caters to company's
penetrated local
the needs of the Export Group, and high
earner foreign
Asian
markets.
consumers but can distributors will The registration also satisfy the be able to avail with the Food needs of the of a "OneStop and
Drug
consumer in the Shop" service Administration
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middle class. The that
will (FDA)
by
expansion of the provide access ChocoVron company into the to all the Global Corp. global market opens products of the (CGC)
has
doors to a more Rebisco Group paved the way complex economic of Companies. to its export. environment and an Today, increase
the
in Export group is
consumer confidence
in partnership
buyers.
of with several distributors from East Asia, South Asia, Australasia, North America, Middle East and Europe.
V. Opportunity and Issue Analysis INTERNAL ENVIRONMENT: Strengths:
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The flour used in polvoron production is of high quality. Provides high quality products with strict sanitary controls. Strong management is implemented. Unique products are constantly introduced to the market.
Weaknesses:
Lack of online presence. Low advertising and promotion strategies. Unattractive packaging.
EXTERNAL ENVIRONMENT: Opportunities:
An increase in the population of young people. Decrease in tax rates. Decrease in costs of raw materials used.
Threats:
The preference of the consumers may greatly affect their
purchase behaviour towards the product being introduced. Inflation that may affect product prices. Health conscious people tend to avoid sweets and desserts
specially those who are diabetic There are many other desserts being introduced to the market
Issues:
Polvoron is a dessert rich in sugar. As health awareness is very prominent among people today, it may be linked to diseases
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caused by high glucose intake such as diabetes.
VI. Market Objectives A. Market Share We aim to attain 40% of the market share for our product Malunggay Polvoron along with other Goldilocks products of the same product line with an estimated 95% success in the implementation of our marketing strategies, 30% of the market share when the estimated success of our strategy is 85% and 25% of the market share when the estimated success of our strategy is 75%.
B.Profitability We chose to use markup strategy in the pricing of our products based on our calculations that it will result in the most profitable and reasonable price. It is estimated that we will have P55,200 revenue in the first two months of selling the products with an estimated sales of 500 units and a total of P1,876,800 of revenue within the first year of selling Malunggay Pulvoron with an estimated total sales of 17,000 units and P625,600 of total profits (1 unit =10 pieces of pulvoron per box)
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VII. Marketing Strategies A. Product Strategy Nowadays, living healthy is the “in thing”. Consumers are more aware of how much calories they take in their body and how much more they need to burn to reach their desired weight and figure. Based on the latest trends in the market, our food industry sure could use the “next big thing”. Something on the scale of healthy, affordable and delicious delicacies – new innovative products that not only offers satisfaction to the needs of the consumers and meeting organization’s objectives but also providing benefits to those that will eat it. In order to be more competitive in the market, different companies tend to manufacture products that share similar qualities and flavors. Although it gives more consumers more products to choose from, producing a product similar to your competitors doesn’t exactly give you an advantage in the market either. To avoid facing with the same problems, the Goldilocks come up with an idea – Malunggay flavored polvoron! But what makes our product different from other malunggay infused polvorons is the fact that we used fresh
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malunggay; oppose to other manufacturers using powdered malunggay. This way, all nutrietns and vitamins from the Malunggay leaves remains intact and preserved. Consumers can now enjoy eating desserts guilt free; they don’t have to worry about eating sweets without getting anything but sugar in it, because eating polvoron has now become healthier!
B. Target Market Strategy The product’s primary target markets are people that are health conscious but also enjoy snacking on sweet delicacies. About 20 respondents
C. Positioning Strategy Attributes The Malunggay flavored Goldilocks polvoron is a perfect substiture for a dessert or snack.
Not only it offers
satisfaction to the palettes of the consumers but it also provides various health benefits. Price and Quality The Malunggayflavored Goldilocks polvoron is cheaper compared to other malunggay infused desserts introduced to the product, making it affordable not only to high salary
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earners but also to consumers from middle class as well. Since it is made from fresh malunggay leaves, the company assures that it will be thoroughly selected for grinding and mixing with other raw materials. Benefits Malunggay earned the moniker Miracle Tree, for almost all of its parts have therapeutic and medicinal values. Malunggay has also earned the name Nature’s Medicine Cabinet because of it has 90 nutrients, 46 antioxidants, 36 antiinflammatory properties, 18 amino acids, anticancer properties, anti bacterial properties, antiaging properties, properties that keep bad cholesterol in check, omega3 oils, and chlorophyll. Product User This product focuses on the health conscious consumers – consumers that enjoys eating sweets for snacks while benefiting the countless positive effects, vitamins and minerals offered by the Malunggay leaves. Product Class Positioning the products with other desserts as well as positioning it beside products that offers a wide variety of
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products enriched with vegetables and minerals. It would attract potential buyers and inform them that our product is not only a dessert but also a powerhouse of vitamins from malunggay leaves. Competitor Positioning our product beside its competitors will give potential buyers to differentiate them from each other – making it easier for them to see what makes our product different from other products; an indirect way of informing our consumers of our advantages in the market, in terms of the quality and price of our product. D. Pricing Strategy We decided to choose the breakeven analysis and markup pricing to reach our goals of maximizing profit whilst meeting organizational goals. Breakeven analysis determines what sales volume must be reached before we get the break even and no profit earned. The typical break even model assumes a given fixed cost and a constant average cost. Fixed cost being the cost of electricity consumed, salaries of workers
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and rent and variable costs being the costs of raw materials used in producing the product. Markup pricing uses the cost of buying the product from the producer, plus amounts for profit and for expenses not otherwise accounted for. The total cost of producing the product basically determines the selling price.
E. Distribution Strategy Products will be distributed in Goldilocks stores nationwide alongside the same product line. Products will also be distributed to local convenience stores like 7eleven and ministop to reach wider number of potential consumers. F. Promotion Strategy Since Goldilocks is already a wellknown brand and this product belongs to an already existing product line, promoting this product should not pose as a challenge. There will be information about the nutritional benefits of the products on the packaging. Posters will also be posted outside every Goldilocks outlet that also displays the product’s various health benefits. This product will be included in the assorted packs of polvoron along with the other different flavors of
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polvoron. Free tasting of the product will also be available in Goldilocks outlets. VIII. Financial Analysis A. Sales Projection
B. Breakeven Analysis, Markup Price, Total Profit
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IX. Recommendation
Product should be sold in the price P88.3 in all stores and be
placed in the dessert section. If ever sold per piece, the product’s retail price should be in
between 8 to 10 pesos each. Promote healthier living in a way of not spending too much for
satisfying consumer’s cravings with the product Place product beside other brands’ product to have competitive advantage against competitors
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X. Action Plan Course of Action Person Responsible Being the leading bakeshop
Time Frame
brand, the president must maintain the Goldilocks's standing in the pastries
President
6 months
VicePresident
6 months
Accounting Department
N/A
industry and products' quality, as well as the eco friendly production of the said company. Assure that the company's goals are being met, and also to satisfy the customers' wants and demands. In producing a new product is costly, the department should careful of handling the money, minimizing the expenses while maximizing the profits that will be earned.
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The department should know what the customers’ needs and wants. They should advertise the new product by doing
effective
advertisements that will encourage the potential
Marketing Department
4 months
consumers to buy the product. They should do free tasting in markets especially in fitness centers where the target market are. The department should assure Production Department that the products produced are at the highest quality. The taste of the new product should be the same every production. They should conduct survey if the customers want to modify or to give other suggestions
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N/A
regarding the new product.
XI. Appendices 1. The Goldilocks and Its Competion
Picture 1.1 Picture of Goldilocks Polvorn
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Picture 1.2 Picture of Milkee Polvoron
Picture 1.3 Picture of ChocoVron Polvoron 2. Raw Materials
Picture 2.1. All Purpose Flour
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Picture 2.2. Powdered Milk
Picture 2.3. Sugar
Picture 2.4. Butter
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Picture 2.5. Malunngay Leaves
3. Processed Ingredients Picture 3.1. Roasted Allpurpose flour
Picture 3.2. Melted Butter
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Picture 3.3. Grinded Malunggay Leaves
Picture 3.4. Melted Butter with Mallungay leaves
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Picture 3.5 Allpurpose flour with Powdered Milk
Picture 3.6. Allpurpose flour with Powdered Milk and Sugar
Picture 3.7 Combination of all the mixtures
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Survey Form
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Survey Results
1. Which brand of polvoron are you most familiar with?
2. Do you buy polvoron products manufactured by The Goldilocks?
3. Is The Goldilocks Polvoron worth the price you paid?
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4. Are you satisfied with the quality and taste of the polvoron from The Goldilocks?
5. Which do you prefer:
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Note: Flavored Polvoron (Cashew, Coffee Crumble, Cookies N’ Cream, Peanut, Pinipig, Ube and Caramel Crunch)
6. Do you find the packaging of The Goldilocks Polvoron appealing?
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7. Are you willing to try a new flavor enriched with vegetables and other natural raw products?
8. Would you consider buying malunggayflavored polvoron?
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References
http://www.goldilocks.com.ph/ http://www.chocovron.ph/ http://www.rebisco.com.ph/products/milkee-polvoron http://www.medicalhealthguide.com/articles/malunggay.htm http://www.clarkisit.com/malunggay-moringa-worlds-superfood/ http://www.instructables.com/id/How-to-make-Polvoronphilippinepowderd-milk-candy/
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