Marketing Plan for Cupcake
Introduction
This paper presents a marketing plan for cupcakes through (cupcake café), but what is a cupcake? Cupcake is an American term for small individual cakes (Samková, Karolína. NA). They are little cakes designed for single serving; they are prepared for sponge and adorned with icing sugar and many more (Samková, Karolína. NA). For us to market cupcakes in (Cupcake Café), we must lay out the marketing plan that will guide us. Thus, the essay will layout the descriptions alongside the features of the cupcake. Then we are going to establish the target market, those who are likely to buy a cupcake, their demographic as well as their income, among other factors. We will proceed to analyze the whole situation then establish our distribution price like how much we would sell each cupcake given that we have recognized our target market, and we have diagnosed the situation. Lastly, we will establish how we will promote or advertise our product to the chosen consumers then come up with a conclusion for our plan of selling cupcakes.
Executive Summary
The cupcake café will be a small entrepreneurial bakery situated in Granby, Colorado. Cupcakes will be baked with different and plenty of flavors, style, sizes, frostings, trappings, as well as decorations. The bakery will entail a comfy seating place allowing consumers to check-in at sit down while they enjoy their cupcake. The cupcake café will also involve a catering service that can fill big orders for events, giving consumers greater convenience. Cupcake will contain an extensive target market. Since all ages from a child to adult or elderly enjoy a cupcake, therefore target market will include all of them. Cupcakes are nearly a low-price product. They are obtained by anybody regardless of the varying income. Meaning the target market for a cupcake is simply huge. With the numerous product options, a broad target market, convenient services, this product will attain the needs of a broad spectrum of consumers.
Product Description
Cupcake appeared after World War I for the first time (Datta, Kaur, and Jagdish P 13). They are a small cake that is packaged with paper baking cups and liners surface. Cupcake is usually a teacup size which is designed in various ways. Cupcakes are very advantageous since their ingredients are readily accessible and easy to measure. You just use a cup to measure your ingredients rather than weighing machine. All cupcakes are nearly made with a twist; in most cases, their design is personalized. Cupcakes are very persuasive; they can persuade consumers by lighting up their moods and providing that smiling face. Currently, nearly every person loves a cupcake. Some people cannot go a day or two without a taste of cupcakes. There are several varieties of cupcakes such as brownies, muffins, tower cupcakes, cake in a cup, and plenty of personalized cakes depending on how you may want your cake to appear (Datta, Kaur, and Jagdish P 16). Currently, cupcakes are usually prepared in muffin tins, which work as cups. They are said to hold up to six or twelve cakes. Muffins are relatively huge compared to fairy cakes, so your cakes are expected to be quite large when you use muffin tins. The most significant concerning cupcake is that the top can be decorated, and it will remain intact until it is consumed compared to the flat cake where the decoration has to be cut out. Meaning the decoration on the cupcake is more of an artwork that can attract consumers in buying them.
Target Market
Since the Cup of Cake Cafe is a bakery, it will entail a broad target market. Situated in Granby Colorado, our target market will contain people of all ages since from children to adults enjoy the delicious treat of a cupcake. Thus our target market will be incorporated since cupcake is not an expensive product. As a result, it will be readily available and accessible to nearly all individuals, regardless of their varying incomes. Furthermore, the bakery is located in an area with a high tourism rate; thus, our target of this company will entail tourists, although several locals will also indulge in the delights. Incase locals are hosting an event or massive celebration; they will be able to utilize our catering services. Cupcake café will rely on locals for plenty of years round of business, while tourists will only be frequent during summer seasons. Cupcakes will be enjoyed and appreciated by consumers who simply want a decent treat. This bakery will be able to meet consumers’ needs, whether they are looking for simple and straightforward cupcakes or personalized designed delicacy or particular order of decoration. Cupcake café will offer a modern and comfortable atmosphere for customers who are looking to come and grab a table while enjoying their designed treat. Our target market for cupcake café will entail both locals and tourists of all ages with variance income.
SWOT Analysis
Before cupcake café decides to operate their business, they need to assess their organizational strength, weaknesses, and environmental opportunities alongside threats. One of the cupcakes café strength is the passion that the owner has for the baking cupcake. Customers can relate to how much the owner enjoys baking their cupcakes and serving their patrons through service delivery (Sax, David NA). This translates into excellent customer experiences and feedback. Such passion will favor the organization since the positive attitude, as well as the environment it generates, will attract new consumers and establish that present consumers proceed to visit their café. Cupcake café must face stiff competition from their opponents as much as they are the only bakery who specializes in the cupcake. They must employ excellent skills and handle customers with great care.
Another strength that the cupcake café needs to acquire is the skill set of its owners. Expertise is essential to any given field since it shows the consumer that the business holds a profound knowledge of the product, and they strive to avail the best services for their customers. Moreover, in the baking industry, skills are very significant since it ensures that consumers are being given a high-quality product in the best combination. Besides determining the quantity of the ingredients, you must possess expertise for a quality outcome.
On the other hand, cupcake café must also be aware of their weakness since it may lead to their downfall. They must ensure that they have enough place to establish their business, which can accommodate the targeted customers. The site should be easily accessible by all their target customers to achieve their goal. Again before cupcake starts its operation, it must ensure that they have plenty of products since running out of work occasionally can lead to their downfall. Since cupcake café is a new business that looks forward to gaining the trust of its consumers, it must never run out of products. Besides, they must also ensure they have enough workforce to deliver to their customers fully. They must be able to full fill a person’s needs to keep gain more customers.
Despite the competition that cupcake face may face, they will have more strength to outsmart their competitors. They will be able to meet consumers’ needs by providing a naturally sweet, gluten-free, reduced-fat, and vegan product.
Market Mix
Product: the critical outcome of a cupcake café is a cupcake; thus, product quality is vital for the success of the business. To ensure product quality, the bakers must stress on cleanliness, sanitation, utilize quality ingredients, and provide all the cupcakes that are appropriately managed (Samková, Karolína. NA). For a business to grow, it is significant for a cupcake café to innovate their product. To do so, the bakery will work continuously in developing and testing a new recipe for cupcakes. With such actions, the organization will have plenty of various offers that will be accompanied by more customers.
Price: after cupcake café has opened their key objective will entail survival, substantial market share, and return on investment. By attaining these aspirations, the business will become profitable. With such purposes in mind, the company will establish prices that are competitive with the industry. Through that, the cupcake café will maintain business since their prices are not high over competitors. Also, not falling below the market price will ensure the company receives more income as they remain competitive. With all that, the cupcake café will attain substantial market share and survival; thus, they will utilize the outcome to pay the return on investment and, with time, profit.
Promotion: The promotion of cupcake café will entail customer awareness, establishing interest and desires, and persuading the consumer in buying their product. To create awareness of the cupcake café, they will host a grand opening as well as advertising (Samková, Karolína. NA). Offering free samples of the tasty and designed cupcake at the grand opening will lead to consumer desires and interest. When the customers taste the new delicious delight, they may be convinced in making the purchase. When you establish customer desire, awareness, and draw, consumer purchase may increase, leading to growth in company sales. Since the cupcake café is located in a small town, another essential element for the company is public relations. The most valuable method of addressing this is through community involvement. Through doing that, the company will gain more business opportunities from the locals and also develop chances of referrals within the community. They can engage the community by participating in community activities as well as sponsoring local events and many more.
Conclusion
In conclusion, the cupcake café will grow and continue to progress only if it established the approaches that can determine the factors of the marketing plan that functions well and cannot fail the product. To estimate the innovation effectiveness, they must provide keen attention to sales of the featured product. Through that, the cupcake café will establish the success of each flavor by the sales quantity of cupcakes. This approach will allow cupcake café to measure the success of their product throughout the month as well as the proposal of the seasonal flavor.
Works Cited
Datta, Priya, Gursimran Kaur Mohi, and Jagdish Chander. “Wholesale Baking Cupcake Pan Baking Cake Moulds.” Journal of Laboratory Physicians 10.1 (2018): 6.
Samková, Karolína. “A Business Plan for the New Company” The Cupcake Factory.” (2018).
Sax, David. The tastemakers: Why we’re crazy for cupcakes but fed up with fondue. Public Affairs, 2014.