Marketing Management of Bakery Industry-Free-Samples for Students

Question: Discuss about the Marketing Management of Bakery Industry in Sydney. Answer: Introduction Sydney Cake Shop Ltd. is the one of the reputable cake and bakery shop in Sydney. Australian consume mixed bakery product every year and microbiological potential risk has assimilated into those products. Most of the ingredients and chemical profile that are used for the making of those bakery products are good and healthy for the people and for that reason customers trust and believe a particular company or manufacturer organization. Australia New Zealand Food Standards Code is maintained by all the organization and the adequate use of ingredients makes those products healthier (Chuang and Hu 2017). Marketing Mix of Sydney Cake Shop Ltd At an organization level marketing mix is basically a framework of an organization, a framework that helps marketers to believe all aspect needed to satisfy customers. The commonly made marketing mix framework has four segments like the place, price and product, and Promotion. This 4-P has declared for satisfying of the customers and for that reason it can be stated as controllable variables (Chiu and Hwang 2015). For the understanding of the 4-P's of marketing, the first and foremost determination is the target market. All the promotion, geographical assimilations, product quality attract people and for that process, the business can enhance in a fundamental way. In case of Sydney Cake Shop Ltd. (SCS), all those employees are satisfied in their working conditions and as they are satisfied with their work so that happiness also reflect by the time of customer dealing. SCS has current products like cupcakes and cakes and those have improved their range in case of quality enhancement in this competitive business scenario. In case of the place measurement demographical condition of that place, people nature towards those confections is important and only when the business should start over that place (Stacey and Wilson 2014). There are internet and advertisement promotions or even in the promotions like flex or banners will also encourage the company. People want to grab their products by the innovative advertisements produced by the company. The pricing of those products are very reasonable and for that reason, the company can expand their business in not so rich areas. Strategies used for the expansion of company In case of market penetration in another market, SCS has to choose different franchises for a different location for expanding their business. Most of the companies located their franchise in different places supply food from origin hub (Fahad et al. 2017). SCS has to do the same to follow the classic route of franchise management where the business owner is ventured by the parent company and franchises have particular agreement to run the business. Franchises are also responsible for the same debt or the cost equity and that allows the parent company to allow more investment in the business. The revenue has come from different sections and that also mitigated the risk of collapsing the business. There is some situation analysis like the budget setting, demographical research of that place, finance agreement, controlling over the place and customer satisfaction are the key issue that will be incorporated into the parental company (Kruglikova 2017). SCS are doing their business since 2001 so the organization has already passed several years so they have quite a few strategies that they have implemented at past for their sustainable development. 45% of the industry revenue has come from this cakes and confectionary selling so more fragmented version of their business and enhance confectionary options are important in that case to justify the demand of that market (Henryks et al. 2016). In Sydney, lots of economic scopes are there in this particular market, that will provide better developmental market as well as increase the product quality for sustain in the competitive market. Potential challenges Potential threats are coming from two-dimensional sectors. One has come from the new entrants in the industry and another threat has come from the substitutes companies in this industries. SCS has to beat other companies by enhancing the quality of their products and to improve their market orientation so that they can sustain in this business market. There are high numbers of the organization like Piece-a-Cake Bakery, Edible Art Bakery, Sweet Memories Bakery and Cupcake shop bakery all these are the impactful competitors of SCS (Jung, Zhu and Gruca 2016). Thus their competitors are also tried to produce the best quality in their product and keep the price at a normal rate so that people can access those foods. This is the start of the competition aggressiveness of business and low switching costs are the important issue to compete for the best production in within same business. Competition becomes unique when the new companies are come up with the low exit barrier and low cost to e ntry in business and that provide a good competition to the existing business also. There is some moderate threat indicated by the substitutes and new industries attractiveness will suppress those exiting initiatives for some time (Pagotto and Halog 2016). For the mitigation of this situation determination of possible threats, identification will be a responsible job that has to understand the company. The company needs to maintain high-quality food at low price rate and increase their franchise numbers so that revenue can be earned from the different section of the city. Conclusion Therefore, from the above findings, it can be concluded that for the better management and the sustainable business condition SCS has to organize their marketing framework and realize the need of customers so that they can implement their business policies and introduce new products in the business. There are lots of other companies in Sydney in an aspect of cakes and confections; the competitive market is very strong over the place. So challenges can be mitigated by the implementation of new strategies like franchises building of identifying the positive aspect of the company so that progressive administration style imposed by the company will ensure relief for employees. Thus the good amount of expansion in business and introducing strategies are the key aspect of their business to create a proper sustainable condition in business. References Chiu, C.H. and Hwang, L.Y., 2015. 85 C Bakery Caf: Eastbound to USA.Management Review,34, pp.127-135. Chuang, C.C. and Hu, F.L., 2017. Experiential Marketing Strategy: The Empirical Study of 85 C Bakery Cafe.International Research Journal of Applied Finance,8(3), pp.129-142. Fahad, M., Naqvi, S.A.A., Atir, M., Zubair, M. and Shehzad, M.M., 2017. Energy Management in a Manufacturing Industry through Layout Design.Procedia Manufacturing,8, pp.168-174. Henryks, J., Ecker, S., Turner, B., Denness, B. and Zobel-Zubrzycka, H., 2016. Agricultural Show Awards: A Brief Exploration of Their Role Marketing Food Products.Journal of International Food Agribusiness Marketing,28(4), pp.315-329. Jung, S.U., Zhu, J. and Gruca, T.S., 2016. A meta-analysis of correlations between market share and other brand performance metrics in FMCG markets.Journal of Business Research,69(12), pp.5901-5908. Kruglikova, A., 2017. Evaluation of Russian market potential for developing positioning strategy of food safety product. Pagotto, M. and Halog, A., 2016. Towards a Circular Economy in Australian Agri?food Industry: An Application of Input?Output Oriented Approaches for Analyzing Resource Efficiency and Competitiveness Potential.Journal of Industrial Ecology,20(5), pp.1176-1186. Stacey, N. and Wilson, A., 2014.Industrial Marketing Research (RLE Marketing): Management and Technique. Routledge.