Part_1_wkst Kayla E Kirk

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Mount Vernon Nazarene University *

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1003

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Marketing

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Jan 9, 2024

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docx

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Lamb Hair McDaniel Your Product or Service Offering: My Soul to Bake bakery MKTG Part 1 The World of Marketing Worksheet O RIENTATION What best describes your firm’s orientation? Production Sales Market Societal List ways your firm follows the marketing concept: 1. My Soul to Bake focuses on customer wants and needs by focusing on which baked good sells the best and only selling those instead of something that the consumer does not want. We also are a catering service that makes orders to the customer’s preference. 2. We do not assume that a sale depends on an aggressive sales force but rather on a customer’s decision to purchase a product. 3. We are dedicated to satisfying the customer’s wants, by making to order fresh anything that the customer might want for catering purposes. 4. Our long-term goals are oriented toward the satisfaction of the customer not the satisfaction of the business, we are dedicated to pleasing the customer. 5. 6. Our firm’s primary goal for business is: M ISSION Write your business mission: Our commitment to providing the human family with better food means every item is made to the highest standards of taste and quality from clean, simple, local ingredients. Part 1 Marketing Plan Worksheet:The World of Marketing 1

Lamb Hair McDaniel Your Product or Service Offering: My Soul to Bake bakery MKTG O BJECTIVES List objectives of your business marketing plan: (i.e. increasing revenue, profits, or market share, customer awareness, higher volume of sales etc.) Objectives need to be realistic, measurable, time specific and compared to a benchmark (see page 25) Objective Person responsible Completion date 1. To raise customer awareness by 30% compared to 2022 2. To increase revenue by 10% compared to last year's sales of $250 3. 4. 5. 6 . SWOT Will you hire a consultant for SWOT analysis? Yes No Identify strengths of business offering:  Quality of our products  Unique Recipes  Exceptional customer service  Attractive packaging Part 1 Marketing Plan Worksheet:The World of Marketing 2

Lamb Hair McDaniel Your Product or Service Offering: My Soul to Bake bakery MKTG  customization  Creative flavors List keys to success: 1. Staff training 2. Track wastage 3. Track food costs 4. Optimize website 5. 6. Describe competitive advantage of business offering: My Soul to Bake’s competitive advantage whether it is bread, rolls, or cupcakes, our competitive advantage is the consistency and quality of its products. With only the best locally sourced ingredients we have a leg up on competition. List advantages of operating in the Internet space: Advantage How will you leverage the advantage? Cohesive branding across your business Can funnel all order inquiries through your site to keep things organized Attract ideal customers Can be found in a google search Identify weaknesses of business offering:  Seasonal Variations  Competition  Equipment Breakdown  Staff management  Inconsistent quality Part 1 Marketing Plan Worksheet:The World of Marketing 3

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Lamb Hair McDaniel Your Product or Service Offering: My Soul to Bake bakery MKTG  Part 1 Marketing Plan Worksheet:The World of Marketing 4

Lamb Hair McDaniel Your Product or Service Offering: My Soul to Bake bakery MKTG List disadvantages of operating in the Internet space: Disadvantage What steps will you take to overcome it? E THICS Will you integrate social responsibility into marketing plan? Yes No Rationale: While My Soul to Bake has not reached its goal in social responsibility, our vision is to create food with integrity, with all regulatory and industry environmental standards, we are constantly working towards reducing our energy and water use. Our goal is to source better sustainable ethically sourced ingredients. We ensure that our food meets the high-quality standards set by our customers, and meets or exceeds all food safety laws, regulations, and guidelines. Describe any ethical problems your firm faces: N/A Part 1 Marketing Plan Worksheet:The World of Marketing 5

Lamb Hair McDaniel Your Product or Service Offering: My Soul to Bake bakery MKTG E XTERNAL E NVIRONMENT - M OUNT V ERNON O HIO Demographic: In 2020, Mount Vernon, OH had a population of 16.7k people with a median age of 36.6 and a median household income of $46,656. Ethnic: The 5 largest ethnic groups in Mount Vernon, OH are White (Non-Hispanic) (92.1%), Two+ (Non-Hispanic) (2.94%), Other (Hispanic) (1.46%), White (Hispanic) (0.983%), and Other (Non-Hispanic) (0.851%). Economic: median household income of $46,656. Legislative: ? Part 1 Marketing Plan Worksheet:The World of Marketing 6

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Lamb Hair McDaniel Your Product or Service Offering: My Soul to Bake bakery MKTG Social trends: ? Political: N/A How is the Internet used in this type of business? The internet is utilized in this business through online orders to pick up in store, through door dash and other food delivery services. There is also an online catering order option where customers are able to customize their orders to fit their needs. List emerging technologies affecting your business offering: 1. N/A 2. 3. 4. 5. 6. List laws regulating your business offering: 1. FDA Title 21 Subchapter B Part 136 – Bakery Products Part 1 Marketing Plan Worksheet:The World of Marketing 7

Lamb Hair McDaniel Your Product or Service Offering: My Soul to Bake bakery MKTG 2. Business License. 3. Employer Identification Number (EIN) 4. Resale Permit. 5. Food Handler's Permit. 6. Building Health Permit. 7. Dumpster Placement Permit. 8. Food Service License. 9. Sign Permit. Identify key competitors in your industry:  Grocery chains with bakeries in house (Kroger, Walmart, Giant Eagle)  Other small bakeries in the area (half-baked, Happy Bean)     Identify companies working on the same market as yours:  Half- Baked  Happy Bean     How can you leverage Internet to beat your competition? by offering online ordering I can Part 1 Marketing Plan Worksheet:The World of Marketing 8

Lamb Hair McDaniel Your Product or Service Offering: My Soul to Bake bakery MKTG Identify ways to handle global marketing for your offering:  N/A      Part 1 Marketing Plan Worksheet:The World of Marketing 9

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