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Business Plan Assignment on Bakeology

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Added on  2020-05-16

Business Plan Assignment on Bakeology

   Added on 2020-05-16

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Running head: BUSINESS PROPOSAL Business proposalName of the Student:Name of the University:Author note:
Business Plan Assignment on Bakeology_1
ContentsIntroduction................................................................................................................................2Part A.........................................................................................................................................2Business concept – An exclusive bakery...................................................................................2Part B..........................................................................................................................................4Overview and Description of the Industry.................................................................................4Part C..........................................................................................................................................5Integrated Model of a Successful Business................................................................................5Part D.........................................................................................................................................8PESTI Analysis..........................................................................................................................8Political..................................................................................................................................8Economic..............................................................................................................................10Socio-Cultural Aspect..........................................................................................................12International Aspect.............................................................................................................13Impact on the external environmental factors......................................................................15Part E........................................................................................................................................15Information Technology...........................................................................................................15Conclusion................................................................................................................................16References................................................................................................................................18
Business Plan Assignment on Bakeology_2
Business Plan Assignment on Bakeology_3
IntroductionIn Canada, bakery industry constitutes a total sales values of $8.6 billion i.e. 1.2million tonnes in the year 2011. This segment is considered to be the second largest segmentin the category of packaged food products and it represents 17.6% of the total sales volume.The innovation in the bakery market is considered an important driver of sales volume. Theincrease in the demand of dietary product is found as an important innovation trend in thebakery market of Canada. This paper will highlight a business plan for Bakeology and theassociated internal as well as internal factors that play an important role in the expansion ofthis business firm (Fogliasso, 2016). Part ABusiness concept – An exclusive bakery Name – BakeologyIn Canada Bakery market consists of the 8.6 Billion dollar value sales in 2016 asregistered. Therefore, it has grown rapidly compared to other countries (Consumer Trends -Bakery Products in Canada - Agriculture and Agri-Food Canada (AAFC), 2018). It alsoincludes frozen bakery market. The growth was stagnant during the time 2006 – 2011.Theproducts that were sold during this time, were gluttonised. But with the awareness of dietaryfood needs in the customers, it has become imperative that the companies starts consideringthat in their main business model. Though there had been major innovation in the foodproducts, low fat as well as gluten free products were not produced. The whole grain productsand environmentally packages and natural products were avoided due to more sales return inthe frozen and baked goods.
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Therefore, Bakeology will concentrate on the fresh baked, gluten free products withall natural ingredients, keeping the customers of healthy and wealthy. It will also diversifyamong the baked goods with time. At the initial stages it will sell frozen bakery and dessertsof all kinds, sourced directly from the home baker’s of Canada. It will also hire chefs ofinternational reputation and train them about the main motive of Bakeology (Sarsangi et al.,2015). Main motive of the work would be to concentrate in the environment friendlypackaging which will help in increasing the social image of the Bakery(Bryman& Bell,2015). Marketing campaign for promotion will be held in the company utilising the socialmedia as well as other means of promotion. The purpose of the media would be to promote aswell as get feedback from the target customers. The major differences will be shown to thecustomers. The prospective customers will include the all ages and lifestyle of people. Thehealth conscious as well as sweet lovers of Canada. All sorts of sweet tooth includes thedemography of the customer segment. Online and counter service will be available(Nguyen,2015).The pricing of the baked goods will consider the competitive pricing. Canadianbakery industry have a larger market as well as giant competitors like Loblaw’s, Sobeys andKellogs. In the initial stages promotional pricing will also be used. Later stages of productlife cycle, the competitive pricing and value pricing will be used (Radnejad &Vredenburg,2015).
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Part BOverview and Description of the IndustryThe bakery market in Canada includes desserts and frozen bakery products with aregistered sale of $8.6 billion in 2011. The total sales volume of the bakery industry is alsoconsidered to be 1.2 million tonnes according to the consumer trends of bakery products inCanada. The bakery segment is considered to be the second largest segment among the totalpackaged food market in entire Canada. The proportional sales of this category has has beendeclining gradually with the passage of time compared to the other sectors between the timeperiod 2006-2011. It can be said that the Canadian market has tried to reach a fair value ofgrowth and this growth was considered to be stagnant and constant. In some categories suchas biscuits, this industry has experienced negative growth volume, but it has continued toincrease after a certain time span i.e, after 2011-2016. According to the report toEuroMonitor (2011), the volume of growth will increase after the increase in the salesvolume of high value bakery products that offers nutritional and other health benefits to thecustomers. The innovation in the bakery market has become an important driver in boostingup the sales of the company for different dietary products. There was also increasing numberof new products containing flour and other items that are associated with flour. Despite thedecrease in the volume of consumption as well as value of the products, there wereinnovation and introduction within the frozen market of Canada. Majority of the new frozendesserts and bakery products were pastries, cakes and other sweet products. The majorleading companies in Canadian market must have suitable and established sub-categories thatwill try to boost up the sales and growth of the company. The bakery market in Canada isconsidered to be highly fragmented with many players and products. The top companiesrepresented only 28% of the launches and the other 938 companies introduced more than
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