Promoting a New Product Launch for Margot Bakery: A Competitive Analysis and Proposal

This report analyzes Margot Bakery's new product launch and provides a competitive analysis, proposal, and promotional plan. It also discusses the tangible and intangible resources required for the business, skills and capabilities needed to launch the product, and legal form for the venture.

Unit 28
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Table of contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Discussing a business and completing its competitive analysis..................................................3
Tangible and intangible resources required for the business.......................................................4
Produce a credible proposal to launch a new venture..................................................................5
Skills and capabilities required to launch a new product and how they are developed...............6
Promotional activities and channels that supports the launch and justify the choice..................6
Promotional activity plan for launch and pre – launch................................................................7
Legal form for venture stating why it has been chosen...............................................................7
CONCLUSION................................................................................................................................8
REFERENCES..............................................................................................................................10
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INTRODUCTION
Margot Bakery is the bakery which is situated in London, UK by providing the bakery
items, products and services at large scale (European Food Safety Authority and European
Centre for Disease Prevention and Control, 2018).
The report will analyze Margot Bakery being helpful in promoting its new product which is
to be launched in the market. Tangible and intangible resources which will be used in the
business for up scaling the business venture. Proposal will be launched for a new venture. Along
with this, skills and capabilities which are required to launch Fruit Muffin will be analyzed and
described in detail. Different promotional activities and channels will be identified for
advertising the product which is to be launched. Promotional activity plan will be described at
large scale for both the launch and pre launch of Fruit Muffin by Margot Bakery. And finally
legal form for the venture will be taken in which partnership will be described for the business to
flourish at large scale.
MAIN BODY
Discussing a business and completing its competitive analysis
The business idea which is taken is Margot Bakery which is situated in London, UK. This is
the business which deals in selling the bakery items or products and services. It deals in selling
the products and services to customers as per their needs and demands. Margot Bakery is the
Bakery business which provides variety of items from selling bread to desserts to the customers.
The product and service which Margot Bakery is selling to the customers is Fruit Muffin.
Porter’s Five Force Analysis – This analysis is done for knowing the scale of business which
Margot Bakery is dealing into. It is described as –Competitive Rivalry – There are major competitors of Margot Bakery which are situated in
London. There are number of competitors in the market in the bakery business as the competition
is intense in this business (Bruijl, 2018).Supplier Power – The number of suppliers of each essential input and the uniqueness in the
product helps in describing the product to be delivered effectively to customers and the cost of
switching from one supplier to another helps in knowing that Margot Bakery is channelizing the
best of its services to customers (Song and et.al., 2018).
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Buyer Power – There are number of buyers in the market for Margot Bakery which is
responsible for in taking the services which are being analyzed and evaluated at large scale.Threat of Substitution – There are various substitute products which exist in the market. The
product increases the likelihood of customers who are purchasing Margot Bakery Fruit Muffin.Threat of New Entry – Profitable markets attract new entrants, therefore there is threat of
entrants which erodes profitability for Margot Bakery, Fruit Muffins (Aithal, 2017).
It is being said about Margot Bakery that the products and services of the business is
engaging people in buying more items from the bakery. The Fruit Muffin which is being
introduced in the market is attracting more number of customers. The Fruit Muffin is being sold
to all type of people and any gender.
Tangible and intangible resources required for the business
Tangible – Tangible resources are physical items including machinery, inventory, buildings or
land. These are the items which can be easily liquidated and have a set value (Kamasak, 2017).
Intangible – Intangible resources are the patents, copyrights, goodwill, trademark as well as
software which are required in the business. Intangible resources are very difficult to evaluate.
For the business to be run effectively and efficiently, the resources which are required in the
business which helps in evaluating the scale of Margot Bakery business so that the Fruit Muffin
which is being introduced as the new product helps in analyzing the scale of how the business is
taking concern of the resources which are required to place the products and services in the
market. Capital, skilled workers, raw materials for making the Fruit Muffin along with
maintaining the website of Margot Bakery so that the online orders can be taken from the
customers (Monteiro and et.al., 2019). This will help in increasing and expanding the scale of
business at different places and brand value will also be increased by promoting and advertising
the new product Fruit Muffin which is to be launched on online platforms. Thus, through the
tangible and intangible resources these are the main items which will be needed for running the
business at large scale and expanding it as per the business requirements. Along with this, there
are other machineries which are required to the Margot Bakery for making Fruit Muffin. The
machinery will help the business in making bakery items easily.
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Produce a credible proposal to launch a new venture
Margot Bakery is the bakery business which is launching Fruit Muffin and has enabled the
scale of how the business plan is made for it to expand the products and services to the
customers. This idea of introducing the new product which is Fruit Muffin will helps in engaging
and attracting more customers as it will ensure that there are number of customers who are
interested in buying the products and services of Margot Bakery. For people investing in this
business it will be analyzed by –
SWOT Analysis –Strengths – Margot Bakery has a brand name in the market and is delivering the best services
which are to be made available to the customers (GURL, 2017).Weaknesses – As a bakery business, Margot Bakery is underdeveloped which its biggest
weakness. There is so much of dependency of raw materials and machinery which is required in
the business.Opportunities – Margot Bakery should penetrate in the market by expanding the range of
products and services in the market so that there is not only limited range of products and
services ranging in the market (Teoli and et.al., 2019).Threats - There is indirect and direct competition in the market which is affecting the business of
Margot Bakery.
STP Analysis –Segmentation – The segmentation of Margot Bakery for the new product to be launched which is
Fruit Muffin is based on the demographic segmentation which includes age group of 11 – 40
years, and any gender.Targeting –Targeting the market for Margot Bakery Fruit Muffin is any gender with the age
group of 11 – 40 years of customers to be targeted within the market (Lopatin and et.al., 2019).Positioning – The Margot Bakery will engage in making and framing the scale of increasing and
expanding the business at large scale with the help of positioning the target customers in the
market.
The new product which is Fruit Muffin within Margot Bakery will be launched in the
market in the summer season and the resources which are in the current business are the
machinery and the raw materials and copyright helping the bakery business to grow in the
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market by producing the products and services to be delivered to customers. These are the
resources which will help the Margot Bakery in analyzing the resources effectively in the market
and will help in improving the aspects which are further needed to invent the new technologies
required in the business. The current product introduced in the market is by Margot Bakery
which is Fruit Muffin (Jagtap and et.al., 2019). This product will help in the market during the
Covid – 19 by delivering the services through online through the website. Covid – 19 has
impacted the business but there will be safe and secure delivery of services of Fruit Muffin to the
customers. Due to such pandemic situations there are least chances of increase in the business for
the product Fruit Muffin. This will decrease the chances of business and will impact the growth
and development of product being launched.
Skills and capabilities required to launch a new product and how they are developed
Skills and capabilities which are required to launch Fruit Muffin of Margot Bakery in the
market needs tech – savvy so that the product and its services are delivered to the customers in
the market through online orders and deliveries made available to them through this bakery
business being started (Cooper, 2019). Yes, knowledge of geography is very much needed in the
business as it will help in delivering the product of Margot Bakery to the customers within the
reach and nowhere outskirts of the city where the delivery is not possible.
This will help in channelizing the basis of the customers and the target areas as where the
product is to be delivered. The skill of being a tech – savvy helps in producing the product within
the market skilfully and knowing the other sources of how the technology is helpful in making
the brand name and adding value to the Margot Bakery within the market structure (Najafi-
Tavani and et.al., 2018). These skills can be developed by regular up gradation in the technology
and the advancements which leads to changes at large scale. Being tech savvy will help in
continuous networking of business within the market which is done by regular research on the
market areas. Time and resources are required for this and they are analyzed for the business in
proper manner.
Promotional activities and channels that supports the launch and justify the choice
The launching of the new product which is Fruit Muffin by Margot Bakery promotes and
advertises its products and services through offline promotional methods by creating products
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and product launches and through word of mouth (Schiavone and et.al., 2019). Apart from these
offline methods of promotion for the product, there are online methods which are to be worked
upon for the product to be launched through social media platforms such as Facebook,
Instagram, Pinterest and by making the website for the product to be launched effectively and
significantly.
Website and Instagram will be used for the introduction of the Fruit Muffin within market
for the customers through online serving the service which are being delivered at large scale
through orders which will be taken (Duralia, 2018). Instagram is chosen for the product to be
launched as it is one of the best online platforms where it has excessive amount of users and
through Instagram the Fruit Muffin will be promoted and advertised effectively as it will engage
users and customers in buying the Fruit Muffin of Margot Bakery.
Promotional activity plan for launch and pre – launch
For marketing the business before it is officially opened posters and flyers will be made
and online advertisements on Instagram and Facebook will be done for the launch of Fruit
Muffin of Margot Bakery. These activities for the promotion of product will be done and apart
from this, after the product is being launched it will reach out to the customers which will also be
available in the Margot Bakery (Kahn, 2018). The promotion then will be done through word of
mouth for the Fruit Muffins which are being introduced in the market.
Market research is being done for the product which is launched and this helps in
analyzing the market through the segmenting, targeting and positioning the product in the
market. This helps in knowing how effectively the Fruit Muffin is reaching the customers as
explained above through STP analysis. Developing a data base for the customers through
targeting will be done which will help in knowing the target customers interested and engaged in
buying the new product that is being launched (Kahn, 2018). With the help of this, feedback will
be known as what are the reviews of the customers while they are consuming the Fruit Muffin of
Margot Bakery. This will help in knowing the strengths and weaknesses of the business. The
methods used for analyzing and evaluating the business effectively are done through promotional
activities online and offline both.
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Legal form for venture stating why it has been chosen
Legal forms for venture helps in stating the business is being supported by the other
entities and legal frameworks through which all aspects are being considered as how the business
is seeking and initiating the rules and frameworks which are to be followed in an appropriate
manner. There are various businesses in the legal forms which are being taken into account and
are explained below –
Limited Company – A limited company is a general form of incorporation that limits the amount
of liability taken by the company’s shareholders (Taouab and et.al., 2019). This helps in
analyzing and evaluating the basis through which legal structure is being followed effectively
and the subscribers are limited to the stake in the company.
Partnership – Partnership is the arrangement where the business partners collaborate and agree
on sharing their business by making agreements at large scale which helps them to initiate their
business and grow and develop significantly.
Private Company – A company which does not offer or trade its stock to the general public and
operates under legal requirements which are being framed by the company at large scale
(Rydvalova and et.al., 2021).
The partnership legal form is suitable for the Margot Bakery as this being in partnership
with any other bakery will help in grow and enhance the patterns of business which will help in
knowing the market structure and how the business will promote and advertise the product which
is Fruit Muffin for the customers to buy. Partnership will help Margot Bakery in initiating the
aspects through which the business will gain maximum number of customers. With the help of
partnership the new product which is Fruit Muffin will help in channelizing the products and
services effectively in the market.
CONCLUSION
Thus, it is concluded from the above report that Margot Bakery was helpful in promoting its
new product which was launched in the market. Tangible and intangible resources which were
used in the business were identified at large scale. Proposal was launched for a new venture.
Along with this, skills and capabilities which were required to launch Fruit Muffin was analyzed
and described in detail. Different promotional activities and channels were identified for
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advertising the product which has been launched. Promotional activity plan was being described
at large scale for both the launch and pre launch of Fruit Muffin by Margot Bakery was done.
And finally legal form for the venture was being taken in which partnership was described for
the business to flourish at large scale.
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REFERENCES
Books and journals
Aithal, P.S., 2017. ABCD Analysis as Research Methodology in Company Case
Studies.
International Journal of Management, Technology, and Social Sciences
(IJMTS).2(2).pp.40-54.
Bruijl, G.H.T., 2018. The relevance of Porter's five forces in today's innovative and changing
business environment.
Available at SSRN 3192207.
Cooper, R.G., 2019. The drivers of success in new-product development.
Industrial Marketing
Management.76.pp.36-47.
Duralia, O., 2018. Integrated marketing communication and its impact on consumer
behavior.
Studies in Business and Economics.13(2).pp.92-102.
European Food Safety Authority and European Centre for Disease Prevention and Control,
2018.
Multi‐country outbreak of Salmonella Agona infections possibly linked to ready‐
to‐eat food (Vol. 15, No. 7.p. 1465E).
GURL, E., 2017. SWOT analysis: A theoretical review.
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of a food company.
British Food Journal.
Kahn, K.B., 2018. Understanding innovation.
Business Horizon.61(3).pp.453-460.
Kamasak, R., 2017. The contribution of tangible and intangible resources, and capabilities to a
firm’s profitability and market performance.
European Journal of Management and
Business Economics.
Lopatin, V.A. and et.al., 2019. Increasing the level of STP in information
processing.
International Journal of Engineering and Technology
Innovation.8(7).pp.583-588.
Monteiro, A.P. and et.al., 2019. Linking intangible resources and entrepreneurial orientation to
export performance: The mediating effect of dynamic capabilities.
Journal of Innovation
& Knowledge.4(3).pp.179-187.
Najafi-Tavani, S. and et.al., 2018. How collaborative innovation networks affect new product
performance: Product innovation capability, process innovation capability, and
absorptive capacity.
Industrial marketing management.73.pp.193-205.
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Rydvalova, P. and et.al., 2021. Innovation and innovation partnership. In
Innovation and
Performance Drivers of Business Clusters (pp. 47-57). Springer, Cham.
Schiavone, F. and et.al., 2019. Strategic marketing approaches for the diffusion of innovation in
highly regulated industrial markets: the value of market access.
Journal of Business &
Industrial Marketing.
Song, Y. and et.al., 2018. Sustainable strategy for corporate governance based on the sentiment
analysis of financial reports with CSR.
Financial Innovation.4(1).pp.1-14.
Taouab, O. and et.al., 2019. Firm performance: Definition and measurement models.
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Scientific Journal.15(1).pp.93-106.
Teoli, D. and et.al., 2019. SWOT analysis.
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