Reference no: EM132396065

Menu has just started a bakery business. She is having difficulty in marketing her products and defining the customers she wants to target. Her friend James, decided to help her. He gave her some bullet points in order to draft a marketing plan. His points include the following:

• Target Market

Describing the target market in terms of age, education level, income, and other demographic variables.

• Product Features and Benefits

Describing the features and benefits of the product or service.(bakery items)

• Product Differentiation

How should she make her product stand out in the crowd?

Hint:

There are many ways to stand out in the crowd, such as a unique product, outstanding service, or a great location. What makes her "bakery product" special? Does it fill an unmet need in the marketplace? How will she differentiate her product to make sure that it succeeds?

• Pricing

What pricing strategy will to choose for the product, and what are the reasons for this strategy?

Hint: Since Menu's business is new, so is the product. Therefore, she probably want to choose between price skimming and penetration pricing. Which should she choose, and why?

• Place (Distribution) Issues

Where will customers find her product or service? That is, what issues of the distribution mix should she consider?

Hint:

If her business will sell its product directly to consumers, what types of retail stores will sell her product? If her product will be sold to another business, which channel of distribution should she use

• Advertising

How should she advertise to her target market? Why should she choose these forms of advertisement?

Hint:

Marketers use several different advertising media-specific communication devices for carrying a seller's message to potential customers-each having its advantages and drawbacks.

• Promotions

What other methods of promotion should be used, and why?

Hint:

Other methods include personal selling, sales promotions, and publicity and public relations.