Secret Recipe

Topics: Marketing, Target market, Food Pages: 41 (10299 words) Published: October 26, 2008
Executive Summary

This report is done under the subject of HBM222 Marketing Planning, a report on marketing plan for Secret recipe. Marketing plan included information and background about Secret recipe, the process of strategy marketing, consisted of a target markets and a marketing mix. It’s also included time-related details such as expected costs and revenues for the strategy. .

In this report, there were 6 main sections or parts. The first part was introduction and situation analysis, provided some background about Secret recipe and contained an appropriate analysis of Secret Recipe including the SWOT analysis, macro environment analysis, and industry environment, critical success factors (CSF) and so on.

The second part was Secret Recipe marketing objectives. This section provided an outline of Secret Recipe mission and objectives. The corporate objective of Secret Recipe is to provide to have annual turnover between 15%-20%. Cash flow is to be positive every year. Other issues are corporate financial objectives, corporate non financial objectives gap analysis and rationales.

The third part, we identified and analyzed possible strategic choices or options that, typically, involve a selection of particular target markets and segment markets into 3 segments, which are fun, family and health. Besides, we have proposed 1 new segment, convenience segment. Then we developed the major marketing mix components, the 4Ps (products, promotion, price, place). Generally, the strategy also included a positioning statement and described the desired image that the marketing mix will be designed to elaborate and reinforce.

We recommended new products development in the existing segments and also the new segments. The new products in this strategic marketing plan is not only to change and satisfy the needs of the consumers but also to achieve the company’s mission of targeting long term profit and sales by providing high quality and healthy food products to the consumers.

In the fourth section, we provided yearly budget form year 2005 to 2008. Specific budget are provided for major items of costs, such as manufacturing, promotion, raw material and services. For the fifth section, we provided monthly plan for the year 2009. We applied Product Life Cycle for the estimated time when the actions needed to be started and completed. We also included who will in charge of each time frame in each implementation plan for each product segment.

Finally, in the last part of this report, we have identified whether planned activities are being accomplished successfully, and whether financial and other objectives, such as some market share, new product, performances are being achieved.

Table of Content

Executive Summary1

Table of Content2

1.0 Introduction4

2.0 Situation Analysis5
2.1 Business Definition and Scope5
2.1.1 Corporate Overview5
2.1.2 Nature of Market6
2.1.3 Products6
2.1.4 Competitors7
2.1.5 Customers8
2.2 Macro environment Analysis9
2.2.1 Economic Outlook9
2.2.2 Political and Legal9
2.2.3 Social Cultural10
2.2.4 Technological10
2.2.5 Natural including Ecological11
2.3 Industry Environment12
2.3.1 Market Industry Review12
2.3.2 Competitive Review13
2.3.3 Distribution Channels17
2.3.4 Customers17
2.3.5 Suppliers.……………………………………...………………………………18 2.4 SWOT Analysis19
2.4.1 Strength19
2.4.2 Weakness19
2.4.3 Opportunities19
2.4.4 Threats20
2.5 Critical Success Factors (CSF)20
2.5.1 Inbound Logistics20
2.5.2 Operations (Processing or Manufacturing)20
2.5.3 Operations (Quality Control)20
2.5.4 Outbound Logistics……...……………………………………………………21 2.5.5 Marketing………..……………………………………………………………21 2.5.6 Services……………………………………………………………………….22 2.6 Problems and Opportunities Statement23

3.0 Marketing Objectives24
3.1 Corporate Objectives24
3.1.1 Mission Statement24
3.1.2 Corporate Financial Objectives24
3.1.3 Corporate Non Financial...

References: Online Web Sites
1. Business Times, 2003, A household name, viewed 4 May 2008,
http://www.superbrandsinternational.com/malaysia/vol2/images/media/othermedia/SecretRecipe.pdf
2. Business Times Malaysia, 2002, Secret Recipe expansion, viewed 8 May 2008,
5. IBM, 2005, viewed 20 March 2008,
http://www-01.ibm.com/software/success/cssdb.nsf/CS/JSTS-6JDUGD
6. Malaysian Franchise Association, 2008, Secret Recipe-Franchise News, viewed 21 March 2008,
http://www.mfa.org.my/?franchise_news:secret-recipe-to-foray-into-5-countries-this-year.
7. Ooi, TC, New Strait Times, 2006, Secret Recipe revenue, viewed 4 May 2008,
http://www.highbeam.com/doc/1P1-130792753.html
8. Secret Recipe, 2006, Brand personalities receive brandlaurette awards, viewed 9 May 2008,
http://www.secretrecipe.com.my/secretrecipe/catalog/exchange/c4389.html
9. Secret Recipe, 2006, Health cakes, viewed 9 May 2008,
http://www.secretrecipe.com.my/secretrecipe/catalog/exchange/11411109700/11709310750/
10. Secret Recipe, 2008, Promotion, viewed 20 March 2008,
http://www.secretrecipe.com.my/secretrecipe/catalog/exchange/topc4317.html
11. Secret Recipe, 2008, Winning recipe for charity, viewed 8 May 2008,
http://www.secretrecipe.com.my/secretrecipe/catalog/exchange/c4390.html
12. Secret Recipe Philippines, 2007, Company profile and history, viewed 2 May 2008,
http://www.secretrecipe.com.ph/about.html
13. Sim, S 2002, Secret Recipe Fine Quality Cakes, viewed 8 March 2008, http://www.smidec.gov.my/E50/2002-45.htm.
14. Sreetdirectory.net.my, 2008, A successful formula, viewed 2 May 2008,
http://www.streetdirectory.com/malaysia/kl/food_advisor/review/new/restaurant-secret_recipe_a_successful_formula-305.php
15. The Star Online, 2008, Business, viewed 25 March 2008,
http://biz.thestar.com.my/news/story.asp?file=/2008/1/24/business/20105989&sec=business.
16. Travel Document systems, 2005, Economy, viewed 11 March 2008,
17. Washington State Department of Health, 2008, Fish Facts to Healthy Nutrition, viewed 21 March 2008,
http://www.doh.wa.gov/ehp/oehas/fish/default.htm
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