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Marketing plan week 7 - CAKEAKE C Place Price of essentials...

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CAKE FOR LOVE Lifecycle Introductory Marketing Objective Gain Awareness Few Competition Product Many Price of essentials plus time Price Word of mouth Promotion Place (Distribution) One small store in a popular shopping center CAKE FOR LOVE Abbigail Hjerpe Owner, President, and CEO Pastry Chef Manager Cashier Customer Support Barista Financing Love for Cake Marketing Plan 1 Love for Cake A Marketing Plan Presented by Abbigail Hjerpe Submitted to DeVry Online Professor Michelsen BUSN319 August 16, 2010 Table of Contents Executive Summary-------------------------------------------------------------------------------------------4 Company Description-----------------------------------------------------------------------------------------4 Strategic Focus and Plan-------------------------------------------------------------------------------------4 Mission Statement----------------------------------------------------------------------------------------4 Goals--------------------------------------------------------------------------------------------------------5 Nonfinancial--------------------------------------------------------------------------------------------5 Competitive Advantage-----------------------------------------------------------------------------------5 Situation Analysis---------------------------------------------------------------------------------------------6 SWOT Analysis--------------------------------------------------------------------------------------------6 Environmental Scan---------------------------------------------------------------------------------------7 Consumer Analysis----------------------------------------------------------------------------------------8 Key Influences-------------------------------------------------------------------------------------------------9 Marketing Mix-Place--------------------------------------------------------------------------------9 Socio-Cultural-Personal Influence-----------------------------------------------------------------9 Socio-Cultural-Social Class-------------------------------------------------------------------------9 Psychological –Values, Beliefs, and Attitudes---------------------------------------------------9 Psychological-Motivation-------------------------------------------------------------------------10 Situational-Physical Surroundings---------------------------------------------------------------10 Economic Analysis---------------------------------------------------------------------------------10 Market-Product Focus---------------------------------------------------------------------------------------10 Missing Components-------------------------------------------------------------------------------10 Product Market Grid--------------------------------------------------------------------------------12 Product Lifecycle-----------------------------------------------------------------------------------13 Branding------------------------------------------------------------------------------------------------------15 Financial Projections---------------------------------------------------------------------------------------- 15 Pricing Strategies----------------------------------------------------------------------------------- 15 Channels------------------------------------------------------------------------------------------------------ 18 Promotional Strategy----------------------------------------------------------------------------------------18 Organizational Chart-------------------------------------------------------------------------------19 Gantt Chart------------------------------------------------------------------------------------------- 20
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Love for Cake Marketing Plan 2 Marketing Plan Implementation------------------------------------------------------------------20 Conclusion----------------------------------------------------------------------------------------------------21 References----------------------------------------------------------------------------------------------------22 Executive Summary This marketing plan is to provide a detailed design on the new need for a new business in Springfield, Missouri. A new business that will sell a diverse selection of wants and needs to the community. The business will sell products like pastries and small sweets, to birthday cakes and wedding cakes. The business has been named Love for Cake. This will be an environment that is relaxed and calm. An environment that someone could just come in and purchase something and leave, sit and chat with friend, or work on homework. The main purpose of this plan is to put into recognition that this is not only something that can help the community profit, but it can help the community grow. This plan will also provide the mission statement, vision statement, situational analysis, market product focus, market promotion and financial projections. Company Description Love for Cake was once a dream for entrepreneur Abbigail Hjerpe. She began putting this dream into progress by taking classes at DeVry University for her bachelor’s degree in business management and entrepreneurship. At the same time, every month she would bake a cake from home in her small kitchen in Raytown Missouri. She baked cakes for birthdays and holiday events, and then she would give them away and use it as a learning process. After
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Love for Cake Marketing Plan 3 having many pleased guests Abbigail Hjerpe feels the need to start her own business in cake baking and decorating.
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