Marketing Plan for Goldilocks

UNIVERSIDAD DE STA. ISABEL COLLEGE OF BUSINESS EDUCATION BS FOOD SERVICE AND INSTITUTIONAL MANAGEMENT

Marketing Plan: Goldilocks Bakeshop Inc. 1966 – 2016

SUBMITTED BY: REYES, DONNABELLE URABANO, ERIKA MAE CAIGAS, JONNA BOBIER, ADRIANNE DOTILLOS, GLENDA MAE

1.) Objectives Our goal is to satisfy the customer and to deliver a good quality of bread. We want to increase our sales figures by 20% this year. To reach our goal we will serve fresh bread, more adds to attract the customers to buy our products. We know we reach our goals because of the expanding stores here in the Philippines and all over the world. To establish and maintain good relationship with its customers as well as with the suppliers and other external alliances by giving credit to their contribution to the business through good communication ties. In manner of speaking, the re-branding of Goldilocks is consistent with its determined expansion campaign. At present, Goldilocks has over 300 stores in Philippines, as well as 24 stores in North America, and a new branch in Bangkok, Thailand. 2.) Products/Services Goldilocks Bakeshop, Inc. operates and franchises bakery stores in the Philippines and internationally. It offers desserts, snack foods, breads, dark chocolate chip muffins, chocolate sweet fusions, chocolate caramel products, sweets, salads, pastries and pies, cookies, cakes, sarapinoy meals, and thirst quenchers, The company also provides pork, beef, chicken, seafood, and vegetable menu. 3.) Customers They have a mix of customers and almost equal percentages of males and females. Goldilocks caters more to the masses but also reaches the upper Class C. Goldilocks’s customers buy bread and pastries such as mamon, ensaymada, cake rolls, not so much specialty cakes, and also dine there. Goldilocks’s customers stay a little shorter around 10-15 minutes both when buying bread and they seem to already know what they like to buy• Diners also take less time 10-15 minutes and there seems to be less talk and eating is not done in a leisurely manner in Goldilocks 4.) Competitors Red Ribbon Bakeshop is another popular name in the bakeshop industry of the Philippines. Considered as the direct competitor of Goldilocks, Red Ribbon Bakeshop is known to provide the same type of cakes and pastries available in Goldilocks. Currently under the management of Jollibee Foods Corporation, Red Ribbon Bakeshop quickly became one of the most accepted and recognized bakeshop across the Philippines 5.) Positioning Market Positioning bases for Goldilocks deals with the profile of the company’s target market, thus classifying them under the bases of geographic, demographic, psychographic and behavioral. Goldilocks are both situated on intersections and street corners where vehicular traffic is high. with varied people from all social classes due to public and private transport passing along the area

6.) Pricing Goldilocks is more on the cheaper side as compared to Red Ribbon. For example, one popular pastry is sold at P20 by Red Ribbon and at one peso less at P19 by Goldilocks. Both offer similar packaging and almost the same buttery quality and goodness of the pastry. On the specialty cakes side and the regular rolls, both offer small and regular cakes and half and whole rolls of cakes. Red Ribbon offers its rolls at P165- 215 for half rolls and whole for P275- 330. Goldilocks offer it a lower price range at P160-190 for half rolls and 255-290 for whole rolls. Specialty cakes are priced between P350-700 for Red Ribbon and P300-550 for Goldilocks. The price range for Goldilocks reaches the lower class budgets. 7.) Sales & Support Goldilocks is now the largest Filipino-owned bakeshop chain in the world. Being the leading Quick Service Restaurant in the Filipino Food Category as well, the company has expanded to more than 350 stores in the Philippines, with nine manufacturing plants strategically located across the country. Consequently, the opening day total sales of P574 back in 1966 has multiplied thousands of times over, reaching system-wide sales of over P6 billion as of latest financial records.

8.) Promotion The company adapted the concept of Niche Marketing – the process of promoting a product, service or customer experience specifically designed to focus on a certain demographic. With good reason, too: concentrating on one purchase group streamlines the entire operation, with the promise of repeat sales. Naturally, the best niche to tap is always the upper segment. Since volumes are expectedly lower than a mass-market endeavor, businesses would do well to convert customer with extra spending power.

9.) Budget Goldilocks are willing to spend a serious money just to attain its market acceptance. In attendance were the brand's top endorser's - and reportedly the top female and male commercial endorsers in the country – Kris Aquino, Judy Ann Santos, Liza Soberano and Dingdong Dantes. This is to say that Goldilocks spent a lot of money for their ad promotion which includes the mentioned celebrities. According to the source, they spent roughly 18 million pesos for the ad campaign itself which in return did a great impact on their target audience.

10.) Action Plan Goldilocks not only as a brand, but a time-honored family tradition. Now approaching its 50th year, Goldilocks continues to strengthen its position as a genuine Filipino Icon. Goldilocks continues to provide its customers with a wide array of baked goodies and home-cooked. At present, there are 24 Goldilocks stores in key cities in North America (22 in the United States and 2 in Canada), as well as five outlets in Bangkok, Thailand.

As the old business saying goes: the higher the investment, the higher the return. It is clear and perceptible that Goldilocks is spending serious money to expand and upgrade its operations, to the point of penetrating a new and more discerning demographic. If the company's track record and market acceptance is any indication, however, this is definitely money well spent.