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Topics: Innovation, Marketing Pages: 13 (1643 words) Published: March 12, 2015
III. Industry Analysis
A. Future Outlook and Trends
Pastry Couture will focus on growing its single location to profitability and use it to establish brand recognition throughout the country by measures revenue targets a year after. These measures growth targets ensure that the quality of service and pastry never drops while supporting the local community and increasing revenues and profits. Sweets are connected to positive memories from childhood, including holidays and family gathering. Recent innovative desserts often take familiar flavors and remade them in new ways. People want to satisfy their pleasure which they can afford and sweets are one of them where can see interesting combination of indulgent flavor. The sweets will never be gone to the savory of the people. And this type of industry have the big impact to the growth combined with the local and regional population's projected growth and expansion indicate that Pastry couture will able to establish itself prior to any serious competitive threat that can enter the market and undermine it sales growth strategy. B. Analysis of Competitors

The food retail industry is a highly competitive market. More so than ever, organizations need to offer customers value for money. Customers want the best quality products at the lowest possible prices. With such tough competition it is vital for organizations to understand what their customers want. Pastry Couture understands that its customers want value for money but do not want to compromise on quality. Some of the potential competitors of the company are the following: 1. The French baker

2. Red ribbon
3. Country style
4. Goldilocks bakeshop
5. Cakes R Us
6. Cupcakes by Sonja
7. Megamelt Bakeshop
8. Salazar Bakery
9. Muhlach Ensaymada
C. Market Segmentation
Market segmentation refers to the process of dividing prospective buyers into groups that have common needs will respond similarly to a marketing action. It is a process in marketing of grouping a customer into smaller subgroups. It is drawn from the recognition that the total market is often made up of submarkets. Pastry Couture intends to sell their product to a wide range of customers. The entrepreneurs want everyone to feel at ease, welcome and entertained. The entrepreneurs have defined the following groups as targeted segments that contribute to our growth projections: The Entrepreneurs

Foreign Tourists
Local Tourists
Other Customers
These particular segments are 17-30 years old and can be either a male or a female. The entrepreneurs also consider selling the product on the middle markets not only the students from high school to college, but also for parents. The product is also for everyone who are willing to buy. These are the types of people who frequently wants to try sweet foods in the area. They are also the most open to trying something innovative and will embrace our Bicol’s specialty. In order for the entrepreneurs to be successful in the future, they must develop the ability to select and offer the right services to their customers. The services should be friendly and prompt. The staff should also be helpful and very happy to serve you. D. Industry Forecast

Confectionery Industry Forecast Is Sweet: Globally Inspired Flavors, Eco-Friendly and Health Minded Trends Lead New Product Innovations. Sweet in the Philippines is expected to increase in value by 7% during 2013, rising to a projected 37.7 billion, as rising numbers of Philippine consumer are becoming increasingly willing to sample the more innovative products on offer from the category’s leading manufactures. Domestic food business is set to maintain its leadership in sweets is due to its wide portfolio of products which mimic popular imported brands. Businesses innovates their product as well as aggressive marketing campaigns in order to keep its customers interested and excited as well as to create a high level of product recall among Philippine consumers. In line with the...
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