'Tasty Pastry' Market Plan

Topics: Marketing, London Underground, Marketing plan Pages: 18 (3834 words) Published: June 24, 2011

This report is about designing a Marketing Proposal for a small business called ‘Tasty Pastries’. The Marketing Proposal incorporates essential Marketing Processes, required to ensure success in the business. This includes Marketing Objectives, Financial Objectives and Marketing Strategies with different models embedded in it. In addition some action plans will be examined.

Executive Summary

This is about an introduction of a new and relatively small business called ‘Tasty Pastries’, in the busy area of Ealing community in the heart of West London. The company will be sharing the space with an established news agent, at the Ealing Broadway underground station. The business aims at offering a range of mouth-watering pastries, together with a selection of beverages to specific consumers in the Ealing community. Though, starting on a very small scale this summer, we intend to earn high profits over a period of time with concentration on our targeted consumers.

‘Tasty Pastries’:
Marketing objective: creating awareness amongst the people in the Ealing community.
Financial objective: to break-even after a 1 year also aiming at a gross profit margin of 4-5 per- cent by the end of the 2nd year. Societal objective: using recycled material in product packaging.

The company strengths are: cost-effective production, good pricing, great value for money and family recipe. Weaknesses: limited resources, lack of awareness and limited space. Opportunities: increase in demand for pastries- better awareness and at its major treats: the weather condition and sporadic closure of underground station.

Background situation

Ealing can be found in the heart of West London. The Ealing community belongs to the Ealing borough which is ranked, the third largest boroughs in London. The Ealing borough is home to about 320.000 people and the Ealing community is home to about 13,300 residents. Ealing area’s surrounding environments which make up the areas in the borough includes: Acton, Ealing, Greenford, Norwood green, Northolt, Perivale and Southall. The Ealing community has a population of more working age and a fewer older people (www2.ealing.gov.uk).

The Ealing area is mostly dominated by international migrants. However, Ealing is known as the 4th most ethnically diverse population of the 354 local authority areas in the country with settlers from all around the world. In fact in 2001, the Ealing borough had the second highest migrant population of all boroughs. Examples of ethnicities include: Indians (community with the most Indians in London), white- (British, other White and White Irish), Black Caribbean, Pakistani, other Asian etc. This has led to an adoption of a major strategy, aimed at achieving success by balancing community interests and reducing inequality (www2.ealing.gov.uk).

Situation Analysis

Recently, in some locations in London; small businesses (pastries and beverages) are springing-up in strategic places. Especially, at or around the London underground stations. Examples: Bethnal Green, Old-street, Dalston Over ground station . Arguably, the general public is getting accustomed to this development as some people fancy having a cup of tea, coffee or pastry on-the-go. Therefore, the introduction of one of such small businesses in Ealing-Broadway underground station this summer is being considered. Precisely, a mobile one in which we could move away to a desirable place (home or storage) after closing. We will be opening quite early say 7.00am and closing at 6.30 p.m operating 6 days a week excluding Sundays with the intention of targeting both morning and evening rush hours. However, this will involve a good marketing strategy; active promotion of the pastries with emphasis on the quality of beverages and other marketing process.

Marketing Objectives

‘Tasty Pastries’ is committed to;

• bring top quality...
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