buy custom Cup Cake Business Plan essay

buy custom Cup Cake Business Plan essay As already mentioned a business plan must have certain peculiar items and must be executed in the right manner. In order to develop a good plan, it is important to do enough research of the industry. This could be sometimes expensive considering that one could only depend on research from survey companies which comes at a price. In addition, a new person may not know what is relevant or not in terms of the information gathered. That should not however deter us from coming up with a plan considering its significance in the business world. Let us now look at how to come up with a plan for our cup cake business. Product strategy, points of difference of the product and ideas for new products. Marketing segments Key points of differences of the product to satisfy the segments needs Ideas for specific new products High school students The cakes must take in to account that students like snacking and therefore it should be well balanced. Students are also known to be adventures and therefore the designs should look uniquely different from what is already in the market. The point is that the customer should have so many choices that everyday they will want to try something different. This calls for abundant creativity. The entrepreneur should develop new designs and products such as pastries in order to give the young adults many choices. Look for different designs on the internet as well as in books Lower school childen Children like sweet things and therefore this must be put into consideration. Different shapes of cakes would also fit children. These could include shapes of dolls, toy cars and toy airplanes. The entrepreneur should also consider introducing new items such as cookies. Some children carry snacks to school and this would come in hardy. Grown ups (Adults) Adults would prefer something healthy not necessarily with much sweetness. This would help them cope with their busy schedules where some of them have no time for a meal like lunch. The entrepreneur can consider delivering to homes and offices for orders made or even to new customers. This would enhance customer relation thereby increasing sales. Special diet people Customers in this section will require cakes made with certain specific ingredients according to their condition. For instance, a person suffering from diabetes will need cakes made with little or no sugar. Other sweeteners could be used instead. There is also the case of people who are allergic to different things such as gluten and nuts. (Kerin, Hartley Rudelius 2008) The availability of certain specific customers is what will dictate the classification one needs to come up with. If for instance it is realized that a customer with a certain allergy keeps on asking whether cakes with or without a certain ingredient is available, the entrepreneur should plan to make them available. Stage in product life cycle, marketing mix,, branding and packaging strategies. This product (cup cake) is at the market introduction stage where customers must be provoked to try it and demand has to be created (Kerin, Hartley Rudelius 2008). The sales volume could be low thereby making little profit. This means that strategies have to be put in place to create awareness, demand and thus improve sales. The market mix which comprises of product, price, promotion and distribution, must be well integrated to maximize profits and keep expenditure within reasonable limits (Day, 1981). As we continue developing our plan, it is of paramount importance to look into how we do our branding and packaging. Our cakes must establish an identity in the market. Once we have the final product ready, we must make it look attractive to prospective customers especially considering that it is new in the market. The brand should be packed in a well designed and finished packaging that draws the attention of customers on the first glance. Beautiful and bright colors should be used in order to make it stand out of other such products. Since branding and packaging will influence a customer either negatively or positively, we must ensure that we create a lasting impressive image (Capozzi, 2011). In conclusion, business planning and proper execution plays a significant role in the success of any investment. In order to end up with a lasting and progressing cup cake business we need to organize the production, branding and packaging which makes marketing easier and the product is enabled to realize sales within a rational budget. The product life cycle management is also important so that relevant steps are taken in each stage. At the market introduction stage, where our cup cake is starting off requires proper market mixing to realize profits in good time. Buy custom Cup Cake Business Plan essay