Royal wedding cake is a trendy, business built around
the belief that eating a healthy, organic dessert can
have a significant impact on a person’s well-being and
attitude, especially for those who believe in consuming
only natural ingredients.
India is a country where people from different races,
cultures and religions are living together. They
celebrate all the festivals and special days. Giving gift
is a normal practice and people like to wish and
celebrate events with bakery products. On such days
the sales abruptly increases. Moreover, lifestyle
patterns and taste also affects the sales of Royal
wedding cake.
SOCIO-CULTURAL ENVIRONMENT
Market Segmentation
….is the process of analysing and classifying customers in a
given market to create smaller, more precise target markets.
Royal wedding cake has identified its overall market
to consist of people who have a higher level of
discretionary income to consume extraordinary
cakes that not only taste good and look good, but also
reflect the company’s concern for improving the
environment.
Customer Satisfaction
Customer satisfaction is our first priority. We have
a large number of cakes to choose. Our range of
flowers is really vast including both artificial and
natural flowers. Bouquets are also available to send
to your loved ones. Flowers are available for every
type of occasion whether you want to congratulate
your colleague on his/her promotion or just want
to gift flowers to your sweetheart to make her
happy.
We know that nothing more than the smile and
happiness of your loved ones is more important to you
so we have all the loveliest flowers and gifts for them.
Just what you have to do is to choose the one you want
to send. Just a click and it will be sent to your lovely
friend or family as soon as possible.
We know that a satisfied customer is an asset to any
business and we always strive to make our asset more
satisfied and grow larger in size.
The Different Buyers Group in India
1. Wedding Group This segment is growing at 15% a
year with 32,000 potential customers.
2. Parties Group This segment is also growing at
15% with 14,200 potential people.
3. Individual Buyer (walk-in) Group
This niche also is growing at 15%
with 48,000 possible customers. This
niche also is growing at 15% with
48,000 possible customers.
Strengths :-
Using organic ingredients resulting in high quality
product.
SWOT Analysis
Experienced staff to start business and save money.
Weaknesses :-
First time business venture.
Start up costs are only estimates
Opportunities :-
Join the trend of modern wedding cake design
Capitalize on changing market
Threats :-
Competitors could “steal” our ideas
Financial problems could threaten our first year’s
success
CUSTOMER TASTE DESIGN QUALITY VARIETY
1 GOOD GOOD EXCELLENT GOOD
2 EXCELLENT GOOD VERY GOOD GOOD
3 VERY GOOD VERY GOOD EXCELLENT GOOD
4 GOOD EXCELLENT GOOD VERY GOOD
Value Proposition
We make sure my cakes are better looking, tastier, and
yummier, than the local bakers.
POSITIONING
We will position our cakes in customer mind by the
best quality, best service, best styling . Rests of the
competitors are not offering the ways we are promotion
our cakes. The unique selling style of our cakes will
have very good impact on consumer’s mind which will
compel them to buy our cakes again and again. The
name Royal will also help us in this regard. It will
attract and bring customers mind that they are offered
with some thing special.
Brand equity is the added value that endowed to products and
services. This value may be reflected in how consumers
think, feel, and act with respect to the brand, as well as the
prices, market share and profitability that the brand commands
for the firm. Brand equity is an important intangible asset that
has psychological and financial value to the firm.
BRAND EQUITY
Brand strategy
As Wedding cake concept is new for Indian market ,we have
more chances to get good market shares . We are going with the
company brand name ,which is , Royal. The name itself says that
the brand is Royal and it will provide the same services.
Branding Decision
As our main focus will be on wedding cake but
along with wedding cake we are also going to
make bakery items . All our products will be
named as the company name Royal.
Brand Differentiation
• Pop(point of parity) :- We are offering bakery
product and small cakes , these products are also
provided by the competitor.
• Pod (point of differentiation) :- as the competitors
are already offering few similar product but we will
create deferent in the mind of customer because we
are going to offer wedding cake which are totally new
for consumer.
Market Leader
The wedding cake concept is totally new for Indian market.
So , here no one is market leader.
The wedding cake is giant in nature and it is costly as well
so, the niche market for the product should be the higher
class people or people whose income is good which we have
already mention in income based segmentation .
As this concept is new for the Indian market , we are having
a great chance to be a leader of the market and it will be
market leader.
About Service
Cake Shape
Round, square, heart ,cartoon, hexagon or wonky - to name a
few, or maybe a tower of cup cakes or individually iced cakes.
Cake Set Up
Would you like a traditional cake set up on pillars, or a more
contemporary style, with a cake frame or separators in
between the cake layers.
Cake Flavors
Fresh cream cake , Fruit cake, Chocolate , vanilla, Strawberry,
Black forest, Butter cake, Pineapple & Cherry.
Cake price
The basic price for the wedding cake is 15000 Rs. But mainly it
depend on cake size, setup, flavor, weight provide by the
customers.
The small cakes price will start from 500 Rs /kg. to 1000Rs /kg.
PRICING STRATEGY
The price of the product depends on many things
like, market position competitors price product quality etc.
Before setting the price we should evaluate thing like price
objective , expected demand , expected cost , competitors
price or cost or offers , the methods of pricing. After
evaluating all these things we should select the final price
for the product.
We should also play with psychology of the customer by
ending the price at 99.
As we are new in market it is necessary for us to attract the
customer by providing initial discount and offers.
CHANNEL DECISION
Channel decisions itself includes all the information
about the way through which product or service will be
delivered to the customers . As far as our product is
concern we are going with direct selling method. We
have cake cabs for the delivery of the giant cake . There
are no mediators or distributors of ours as we are new
in market . We are going to offer home delivery service
for the small size cakes also.
Plans Of Operations
It is necessary to manage operations in a manner so that we
can easily fulfill market demand . The big wedding cakes
needs continuous production . It takes time. So the
production will run in two shifts each of 8 hours so that we
can easily match with the market demand. In the same
time, we are also going to make small cakes . If there is
more demand then we will increase the shifts hours till 12
for both shifts and try to fulfill the demand.
Plans For Location-
we are going to set up a cake gallery in the posh
area of the city . Our cake factory will be at a cheaper area
of the city so that we can manage the cost.
Advertising Program
Advertising is a medium of communication . It creates awareness about the
product and the brand .We will do some events for the advertisement.
Advertisement itself includes 5 M’s.
• 1)Mission- Our mission is to create maximum awareness about our brand
and the products also.
• 2)Money- It gives idea that how much we should invest in an
advertisement .There are many factors which affects the advertisement
budget . As our product is new in market and there is not much
competition so it needs more advertisement to create awareness.
• 3)Message- Our message for customers is “ A Cake For New Generation”
. It needs a creative strategy for execute the advertisement message .
Television ads and print ads ,online ads , etc. plays very important role in
execution of message.
Advertising Program
• 4)Media- Media include all the mediums like
newspapers, Television, Direct
mail, Radio, Magazines, Outdoors, Yellow pages
, Telephones, Internet , etc.
These are the mediums through which we will reach maximum
people and do our Brand and Product promotion.
• 5)Measurement- It is the evaluation process which gives idea
about the effectiveness od advertisement . We can measure it
through feedbacks or sales volume.
We have also planned to marketing our products by
sending birthday card , information material, discount coupons to
customers home.
Sales Promotion
Sales promotion is an important ingredient in
marketing .It attracts the customers to purchase. There
is a thin difference between Advertising and Sales .
Advertising offers a reason to buy and sales promotion
offers an incentive . We have planned to give coupons,
cash refund offers, price off for sales promotion.
Consumer-adoption
Few decades back in India, people were not crazy about to
celebrate their birthday or any other occasion or good thing
with cakes because there are number of traditional desserts
available. But as the time goes on , now, it is become a trend to
celebrate birthdays or occasions with cakes . As far as birthdays
are concern, celebration is empty without cake . Now, people
are familiar with cakes, so , it is easy for us to make people
aware about wedding cakes . The target market for these giant
cakes is higher class or rich people and the wedding cake will
bring a new thing in their wedding. The higher class of people
are not too much conscious about the spending in
wedding, they are conscious new and creative things . So
probably , it will take about 2 years for the full adoption .