Secret Recipe is entering new market in Iran. The restaurant franchise has been well established in Malaysia and also in other ASEAN country such as Singapore, Indonesia Thailand and Philippines. The basic market need is to offer individuals, families from middle to upper income range, the tasty cakes and pastries as well as Western and Asian meals. Secret Recipe will use fresh ingredients and homemade recipe for their cakes, pastries and meals. 2.1 Market Summary
Secret Recipe has good information about marketing through franchise concept and knew a great deal about how to attract and maintain loyal customers. It will leverage on the franchising scheme which rely on master franchisor to serve and understand the needs of the Iranian people better. 2.1.1 Target Markets
The target market of Secret Recipe in Iran will be the individuals and young families in the age range of 20-54 years old. This will be the best market because they are more willing to try new kind of foods. They are less averse compared to the older generations. 2.1.2 Market Demographics
Below are the profiles of Secret Recipe’s customers:
• Geographically, Secret Recipe is targeting city of Tehran which has a population of 14 million people. • The targeted market is estimated at 7 million.