BreadTalk Group Marketing Plan
Owing to the reasonable government policies, the environment fosters the economic growth of businesses. BreadTalk’s primary objective is to provide the best quality food. It also plans to purchase new kitchen equipment to reduce product costs besides acquiring new chefs to increase variation in food quality. Introduction Founded in 2000, BreadTalk Group has grown steadily occupying a distinctive position that has ensured it established global dominance in bakeries and restaurants. Currently, the company has around 1000 outlets across more than 15 states (Temporal, 2012, p. The BreadTalk brand has been following the relevant marketing plan carefully. However, the sales in Singapore continue declining while other brands in other locales have maintained sales. Internal Analysis An internal analysis constitutes sales improvement and increase in profitability by focusing on factors within a corporate.
In this regard, a SWOT analysis is critical to identify the underlying objects concerning the marketing planning of the company. The analysis identified both strengths and weaknesses. Fundamentally, the indication is that it will establish a surge in demand for bakeries globally because people prefer snacks in between meals. On the same note, BreadTalk brand experiences a significant threat of competition. Currently, other companies are growing at a high rate such as Four Leaves. External Analysis The general environment of the company is prone to constant change, and analysis factors maintain an enormous impact on the industry. Essential to realize, critical elements of the company are necessary to maintain the brand recognition and competition. Consequently, businesses can expect high purchasing power from the consumers.
Added to that fact, there is high literacy rate, and primary schooling is a basic necessity. In result, the country has a culture characterized by citizens with a good command of English making it easy to attract international trade. Assessing the technological factors, the primary reason there has been a change of culture emanates from advancement in technology. The Internet is integral in the nation which has equally led to an easy flow of communication(Toh & So, 2011). BreadTalk is currently underway the process of changing the equipment to become more economically productive. Concerning the third element of being achievable, the company is underway a process of hiring new but experienced chefs who have the potential to provide excellent and quality food.
Besides, it is in the process of acquiring new technical equipment and advanced ingredients to come up with an entirely different buy exciting taste. There is a primary concern to avail a variety of foods. On the realistic perspective, the brand has been responsible for providing food inclusive of delicious desserts and cookies among others. To start with, promotion is critical and is the result of all components. When the company experiences benefits, the addition of all elements become up line while if it counters losses, the organization perceives it as a down line. In this regard, the end products of an organization ought to satisfy the needs of customers otherwise the efforts will be in vain. Another consideration is the people who are the consumers of the products.
Customers give the final verdict about the performance and structure of a company. BredTalk already has many points where consumers can access its products conveniently. To improve the sales, the brand can reconsider the strategic positions and make fine adjustments to reach massive customer base. Product management entails managing the products of a company in their life cycle. Individuals need to come up with product plans that are congruent with the culture of a corporate. In specific instances, companies have to develop new products which satisfy the demand. In this way, it leads to brand awareness based on the target market which increases the productivity of a company. Action Plan There is need to use the current commercial standing of the company to develop an effective marketing plan to foster the growth of BreadTalk brand.
Although the brand is currently tough having taken over a majority of bakery stores, it can be enhanced through practical strategies. Primarily, technological advancement needs to be given priority. The corporation may partner with another organization that focuses on the digital marketing of the brand. The proposed marketing strategy will be deployed in stages. First, the company is expected to have an increased presence on the web. The institution BreadTalk is partnering with will introduce ads on television which will enhance its awareness in the market. The product prices will reduce gradually as the company accesses new equipment. However, quality of food will be maintained especially since the group of employees appointed to run the quality check will be more vigilant.
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