Strategies of Marketing Four Leaves Bakery : Report

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Added on 2020-01-16

Strategies of Marketing Four Leaves Bakery : Report

Added on 2020-01-16

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INTERNATIONALMANAGEMENT

Strategies of Marketing Four Leaves Bakery : Report_1

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1Business strategy..............................................................................................................................16.1Product/ Service positioning..................................................................................................16.2 Pricing strategy......................................................................................................................16.3 Distribution and logistics......................................................................................................26.4 Promotion and advertising....................................................................................................36.5 Estimated sales mix...............................................................................................................36.6 Production strategy................................................................................................................4FINANCIAL PLANNING...............................................................................................................47.1 Cost analysis and cash flow statements................................................................................47.2 Projected profit and loss statement.......................................................................................8Management considerations.............................................................................................................98.1 Personnel/sales force factor...................................................................................................98.2 Business advisers ...............................................................................................................108.3 Contingency plans...............................................................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12

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INTRODUCTIONInternational management refers to an activity which includes operating businesses bycrossing national boundaries. It has a large scope and works at a global level. Various aspects ofculture, language, political and economic differences exist in such business. The present report isfocussed on same topic in context of Four leaves bakery based in Singapore. It has a number ofstores in various parts of country serving different products. The report will discuss differentstrategies of marketing, financing and contingency plans.Business strategy6.1Product/ Service positioningThe Four leaves bakery has a wide option to select a target market as it supplies productwhich is for everyone. It can have wide positioning of products by making its services customercentred. For giving a good positioning to the firm, it has to analyse its competitors as well. Thebakery industry has a growth of about 8% per annum in world market (Scullion & Collings,2011). The main raw material in making of cakes and bakery products is bread and biscuitswhich covers almost 78% of this business. It is recommended that before positioning the brand itis necessary to identify the uniqueness of product along with a detailed research on customers.Besides this a company should also research on its competitors for getting information of theirprobable moves to gain market share. In context of Four leaves bakery, company should focus onits logo and tag-lines that can attract the customers. It will also help in creating an image incustomer's mind so that they can identify the brand easily (De la Mothe, & Paquet, 2012).Moreover, its distribution should be done from stores that are easily accessible for consumers.Home delivery option will work as an added advantage in this field. So, it can be said that for asingle function of positioning of product, the organisation will have to focus on whole market inall aspects. 6.2 Pricing strategyThe pricing strategies for any product or service is a crucial work that should be doneaccording to a systematic plan. The wrong strategy of pricing can affect the business a lot(Bakery Marketing Strategies,2016). In case of bakery business, it is recommended that priceshould always be such that can be affordable for every class of customers. Cited company canuse different pricing strategies to attract more number of customers. The major competitors of1

Strategies of Marketing Four Leaves Bakery : Report_3

mentioned firm are Bread-talk and polar. Both use to give services in the field of bakery items.The Four leaves bakery can adopt a pricing strategy in which a different kind of discount can begiven. For instance, it can first fix the price of all different flavoured pastries, cupcakes etc. toalmost same. After that a strategy of incremental discount can be applied in which more numberof pastries will offer more discount (Hill, Cronk & Wickramasekera, 2013). It means if 3 pastriesare bought 5% discount can be given likewise it number increases to 6, 10% of discount shouldbe given. Besides this, it should be taken in consideration that the price fixed by company shouldmatch with market cost of product. If the initial price will be equal to market cost then even incase of less numbers of purchase, firm will be in position of break even (Ruigrok & Van Tulder,2013).6.3 Distribution and logisticsThe distribution strategy has an important factor that has an impact on customer's mind.Some companies use to manufacture the product by their own and then sell it to consumersdirectly. While some have a long chain of distribution in which various middlemen are includedto supply the final product to consumers. Decision about distribution channels is a difficult taskas it contains a huge amount of expenses. This management is also affected by public viewsbecause it includes a large number of people in distribution chain (Harzing & Pinnington, 2010).The modern concept of e-retailing has been a major contributor in improving supply chainmanagement. The bakery product's distribution should always be fast and have smaller chain.This is necessary as it comes in category of perishable products. Bread is the main staple food formost of the Singaporeans so, mentioned company has always been successful through itsproducts in market of Singapore. Through use of e-retailing or managing supply throughelectronic medium company can have various benefits which are as follows:Reduction in costIncreased number of salesBetter order processingIncrease in profitsFaster delivery Better information management (Madura, 2011)Improvement in inventory managementSound relation with suppliers2

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Strategies of Marketing Four Leaves Bakery : Report