Pastries Business Plan: Customer, Value, & Barriers to Entry

This report analyzes the viability of starting a new pastries business, emphasizing the importance of in-depth research and capitalizing on unique ideas. Key factors explored include defining the target customer segment by assessing consumer demographics and spending power, determining the value proposition by aligning product offerings with customer expectations, and establishing strong customer relationships through open communication and social media monitoring. The report also addresses potential barriers to success, such as licensing, competition, specialized labor, and health consciousness. The conclusion highlights the attractiveness of the pastries business while stressing the need to consider potential challenges and adapt effective strategies to maximize success. The website Desklib provides past papers and solved assignments for students.

11/28/2017
Student Name
Entrepreneurship – Starting A New Pastries Business

Contents
Introduction......................................................................................................................................1
Customer segment...........................................................................................................................1
Value proposition.............................................................................................................................1
Customer relationships....................................................................................................................2
Barriers............................................................................................................................................2
Conclusion.......................................................................................................................................2

Introduction
Setting up businesses delivers many benefits such as unlimited income, finances and profits as
well as freedom and many other privileges making it an attractive option for young
entrepreneurs, but one which required in-depth research and studies before venturing into. Young
entrepreneurs must maintain an open mind towards business and be able to capitalize on ideas
which can yield major gains (Investopedia, 2017). This means entrepreneur needs to scan the
business environment and identify unique ventures which can be investigated closely to
determine their viability. For this research paper, we shall be evaluating a Pastries venture and
evaluate important points which must be taken into consideration to determine the ventures
viability.
Customer segment
One of the first steps linked to starting up new Pastries businesses is assessing the target
customer segment. This helps the entrepreneur determine important statistics linked to the
customer basket which can be used by the business to determine potential growth and expansion
(Bell, 2016). Factors like the average number of consumers, per capita income and consumer
spending power all play an important role towards determining the viability of the proposed idea.
Customer segmentations helps the businesses heads separate the different types of customer
groups and their preferences thus allowing the businesses determine the number and type of
products the businesses internet on developing
Value proposition
Another important aspect linked to starting up the Pastries business would be determining the
target consumer group based on their standard or the consumer class. The entrepreneur must
determine the consumer group they intend on targeting thus allowing the business determine the
product value proposition (Investopidia, 2017). This is important since value proposition helps
filter the number and type of targeted customer which has a direct effect on the product value
and cost. These elements can then be used to filter the target consumers the Pastries business
intends on attracting. Value proposition is achieved by elutriating the customer’s expectations
and the businesses service pro products delivering and developing a product or services which
targets a specific consumer group. This is important as it helps set the business brand image and

social stature thus helping the brand be distinguished by the consumers. A perfect example of
this is Baskin Robbins which is classified as being a leading pastries brand and store where as
other claim the pastries are the same as other major brands. Simply due to the brand targeting
high end consumers Baskin Robbins has being classified a superior and continues to register
consistent growth and expanding across the globe.
Customer relationships
It’s also important to maintain a close relationship with the businesses customer and maintain
pen communication lines at all time. This is especially important in today’s age of social media
where negative information can easily go viral on the internet (msG, 2017). This makes it
important for the businesses owner to maintain communication with customers and monitor their
comments on the internet as well as intervene before negative sentiment has a chance to go viral.
Public and customer relations have grown to become an important aspect linked to any
businesses image and success. With most customers having accesses to social media today
maintaining a positive public relationship image among employees, customers and stake holders
has become critical towards any brands success.
Barriers
Licencing, competitors, specialized labour and other factors which could hinder the Pastries
businesses performance or productivity. This makes understanding barriers and pitfalls important
towards helping the business owner repair more secure businesses plans and avoid such
complications when encountered (Cross, 2017). This is especially important while dealing with
the Pastries business as it involves perishable goods thus needed for the entrepreneur to consider
putting in place important measures to protect the business from encountering unexpected losses.
There are also other factors such as health consciousness whereby the public is growing more
health conscious on a daily basis. This makes it important for the pastries businesses proposal to
consider barriers which could hinder the proposed businesses growth and success. Being able to
classify as many barrier and complications or hurdles as possible demonstrated the businesses
heads and management understanding towards the businesses thus helping reduce the risks
associated to the proposed venture.

Conclusion
The Pastries business is an attractive venture due to most people being prepared to share pastries
over tea, meeting or during parties but to protect the business from unseen losses it's critical for
the businesses to consider various aspects which could lead to loses (GROCO, 2017).
Entrepreneurship involves being able to come up with attractive businesses ventures but at the
same time, it requires reviewing them closely to determine the best approaches and strategies a
business needs to adapt so as to maximize its success.
References:
Bell, E., 2016. Customer Segmentation: 5 Ways to Divide the Consumer Base. [Online] Available at:
http://www.thebridgecorp.com/customer-segmentation/ [Accessed 28 Nov 2017].
Cross, P., 2017. barriers to investment. [Online] Available at:
https://www.fraserinstitute.org/tags/barriers-investment [Accessed 28 Nov 2017].
GROCO, 2017. The Qualities That Define A Successful Entrepreneur. [Online] Available at:
http://www.groco.com/readingroom/lead_successful_entrepreneur.aspx [Accessed 28 Nov 2017].
Investopedia, 2017. Entrepreneur. [Online] Available at: https://www.investopedia.com/terms/l/limited-
entrepreneur.asp [Accessed 28 Nov 2017].
Investopidia, 2017. Value Proposition + SUBSCRIBE. [Online] Available at:
https://www.investopedia.com/terms/v/valueproposition.asp [Accessed 28 Nov 2017].

msG, 2017. Customer Relationship Management - Meaning, Need and Steps in CRM. [Online] Available
at: http://www.managementstudyguide.com/customer-relationship-management.htm [Accessed 28
Nov 2017].