The Company
Goldilocks traces its roots to the collaboration and complementary talents of the women, whose collective love for good food fueled what has been transformed into the global enterprise today. It is know for its delicious pastries and cakes. The Market
The market for cakes and pastries never go on season. Cakes are always present in parties and even big event it also one of favorite dessert of Pilipino. It captures the heart of people who like sweet food and even candies or pastries. The costumer of goldilocks is at all age, it can also a middle earner and also the higher earner because it offer price affordable and some price which much higher depend on its flavor and sizes.
The Competition
The competitors of goldilocks are pastries restaurant, café, red ribbon, French Baker and even the local bakeshop. The competition is high intense because their area lot of choices in the market.
The Strategy
Goldilocks need to create new varieties of cakes and pastries for the demand of their customer. Expand their stall for more accommodation of customer.
Chapter 1
BACKGROUND OF THE STUDY
Introduction
Goldilocks is the leading brand in the Philippine bakeshop industry, cutting across all economic classes with a wide variety of products, at prices within the consumers’ reach. Ask any Pinoy what his favorite Goldilocks products are, and he’s sure to name at least one!
Apart from being awarded the Superbrand Seal of Recognition, Goldilocks has been elevated to the Hall of Fame in both the Bakeshop and Franchise categories by several award-giving bodies such as the Consumer Union of the Philippines, Parangal ng Bayan, and the Philippine Franchise Association. It was also awarded by DTI – Philippine Retailers Association the Outstanding Filipino Retailer for 2006 in the FoodRetail category. This attests to the genuine quality and dedication that Goldilocksputs into its products and services.
For 40 thoughtful years, Goldilocks has set the standard for quality cakes, breads, pastries and popular Filipino food. Its mission is to constantly innovate new products that suit the discriminating Filipino taste. The nation’s favorite bakeshop currently has an outstanding 400 products in its product range.
History of (Company name)
The Goldilocks Fairytale
Once upon a time in 1966, two sisters, Milagros and Clarita and their sister-in-law Doris, decided to open a small bakeshop along Pasong Tamo Street in Makati. A third sister, Maria Flor, suggested that they name the enterprise “Goldilocks”, after the character in a fairy tale. The intention was to make it easier for children and their mothers to remember the bakeshop’s name, and also because it suggested luck and prosperity.
Little did the founders know that this “Once Upon a Time” would flourish into a real-life “Happily Ever After”: though hard work, dedication, and an uncompromising commitment to total customer satisfaction, Goldilocks is now the largest Filipino-owned bakeshop chain in the world. As a true global brand, it has expanded to more than 420 stores in the Philippines and overseas markets, and now employs a workforce of over 2,000 people. Likewise, the opening day total sales of P574 back in 1966 has multiplied thousands of times over.
Perhaps more impressively, generations of Filipinos consider Goldilocks not only as a brand, but a time-honored family tradition. Now celebrating its 47th year, Goldilocks continues to strengthen its position as a genuine Filipino Icon.
Industry definition
Bakeshop –a workplace where baked goods (breads and cakes and pastries) are produced or sold bake house, bakery Pastries –A dough of flour, shortening, and water, used as a base and covering in baked dishes such as pies. Cakes –A sweet baked food made of flour, liquid, eggs, and other ingredients, such as raising agents and flavourings. Flavours –taste, esp. the distinctive taste of something as it is experienced in the mouth. Positioning- Positioning is also defined as the way by which the marketers attempt to create a distinct impression in the customer’s mind.(http://en.wikipedia.org/wiki/)
COMPANY PROFILE
A. Mission and Vision
Vision:
Goldilocks, A strong global brand! Mission: Goldilocks symbolizes excellence in products and services that go beyond customer expectation worldwide. Customer service for Goldilocks: The customers deserve the best service, prompt and efficient service, courtesy, and customer satisfaction are just a few ways tp show gratitude to them. B. Values
Customer service for Goldilocks:
The customers deserve the best service, prompt and efficient service, courtesy, and customer satisfaction are just a few ways to show gratitude to them. C. Awards Taste success with a Goldilocks Franchise. Join the Goldilocks franchise family. With over 40 years of experience, more than 300 stores worldwide and the 2005 Hall of Fame Award for Outstanding Filipino Franchise of the Year, you are assured of sweet success. Brand Leadership Goldilocks is the leading brand in the Philippine bakeshop industry, cutting across all economic classes with a wide variety of products, at prices within the consumers’ reach. Ask any Pinoy what his favourite Goldilocks products are, and he’s sure to name at least one! Mark of Excellence Apart from being awarded the Super brand Seal of Recognition, Goldilocks was Outstanding Filipino Retailer for 2006 in the Food Retail Category, and elevated to a Hall of Fame in 2010 in both the Bakeshop and Franchise categories by several award-giving bodies such as the Consumer Union of the Philippines, Parangal ng Bayan, and the Philippine Franchise Association.
It was also awarded by DTI – Philippine Retailers Association the Outstanding Filipino Retailer for 2006 in the Food Retail category and in 2010 Hall of Fame Award for Outstanding Filipino Retailer This attests to the genuine quality and dedication that Goldilocks puts into its products and dedication that Goldilocks puts into its products and services. Service and Reliability The thoughtful nature of Goldilocks is seen not only in its products but in its superior service as well. Goldilocks provides continuing support and advisory services on store operations, local store marketing plans, financial data analysis, and market development-all designed to enhance the franchisee’s store management skills. Excellent Operating Systems Goldilocks’ comprehensive training and quality systems provide the framework to support its growing network of stores. It is committed to constantly innovate and provide quality products and services. Breakthrough Concepts Products that constantly delight and excite consumers! Only Goldilocks has unique concepts such as Decorate Your Cake, Go Lite, Pinoydeli, Bitbit Packs, Happy Goldi Birthday Party, and many more. Innovate Store Designs and Layout Goldilocks continuously updates their store concept and design to address specific market needs. It provides point of sale materials such as menu boards and advertising material
D. Warranty
Satisfaction Guaranteed, or your money back. If we can’t get the Mattress your body needs within 100 days (which 95% of our customers find we can… see below), we will refund your purchase price. You only pay the shipping.
The comfort experts at FloBeds can help you determine what firmness is best for you, based on what you have been sleeping on and what you do and don’t like about your old mattress. Our exclusive Mattress Selector helps you decide which model is right for you. If you get it wrong, we’ll still make right. We know how important the mattress you sleep on is! Our unique design, with changeable firmness layers means you will most likely have the comfort your body needs. But if you don’t, our component design allows us to promptly send just the component you need to achieve the comfort you deserve. For King, Queen and Standard Mattresses you can order up to two new firmness layers for just $75 in the first 5 years. You don’t have to send anything back. Over the entire 20 year life of your bed we will send you up to 4 new latex cores to help you get the support your body needs.( If you have a Twin size mattresses you may order 1 core at $75 and one more additional core.) And since we can ship it via UPS, Year
Cost of first 2 Cores (1st if Twin Size)
Cost of Cores 3 and 4 (2nd if Twin size)
1-5
$75 ea
$150 ea
6-10
25% of Core Price ea
50% of Core Price ea
11-15
50% of Core Price ea
75% of Core Price ea
16-20
75% of Core Price ea
75% of Core Price ea
it is easy for you to receive your new firmness.
With our vZone, designed for specific pressure point relief, we will send you any latex zone you need at no charge for the first 100 days. For the next 5 years, just $20. Nothing to return. If you are not 100% satisfied with the firmness you select, we will help adjust your mattress for your body. So REST ASSURED. We guarantee your comfort. The bed that will always be “Just Right”. Here’s how it works for beds purchased after November 2010:
For mattresses purchased before November 2010, we still offer a 25% discount on new cores. FloBeds knows that your body will change. You may get thinner or you may gain weight. You may suffer from an injury or heal. But most of us will change… and the support your body needs may change too. FloBeds want to make sure your bed is always “Just Right”.
For reference, our current Core Prices (Soft to XFirm) are:
Blended Queen…….$350
Blended King……….$400
Natural Queen………$399
Natural King………..$499
Here is a listing of all current component prices that would apply today.
Electrical Adjustable Base Purchasers: Note, if you are buying an electric adjustable base, unlike a FloBeds Slat Foundation which ships via UPS, Adjustable beds ship via common carrier. In the interest of full disclosure, we want you to know the freight to return a Dual King Adjustable Bed will be in the $300-400 range. That combined with the original shipping means you are risking serious dollars. On the other hand, in the rare instance you find our mattress is not right, you may want to keep the base with can be used with any flexible mattress.
Objective of the study
OVERALL AIMS AND OBJECTIVES
to provide a safe, secure, stimulating and caring environment in which children feel secure to explore and experiment confidently; to use assessment, recording and reporting to promote continuity of learning; to work in partnership with parents to meet every child’s individual needs; to develop a curriculum which will include suitable learning opportunities and fun activities for all the children taking into account age and ability which allows for creativity and imagination; to have an appropriate range of policies and procedures which support lifelong learning; to encourage staff to reach their full potential through training opportunities, teamwork, regular appraisals and recognition of skills; work within a framework which ensures equality of opportunity for all children and families.
Scope and Limitation
This study is only limited in the brand Goldilocks for its product innovation, product positioning and market growth.
CHAPTER 2
TOOLS AND TECHNIQUES IN DEVELOPING Goldilocks STRATEGIC MARKETING PROCESS PORTER’S 5 FORCES
The Porter’s Five Forces tool is a simple but powerful tool for understanding where power lies in a business situation. This is useful, because it helps you understand both the strength of your current competitive position, and the strength of a position you’re considering moving into. With a clear understanding of where power lies, you can take fair advantage of a situation of strength, improve a situation of weakness, and avoid taking wrong steps. This makes it an important part of your planning toolkit. Conventionally, the tool is used to identify whether new products, services or businesses have the potential to be profitable. However it can be very illuminating when used to understand the balance of power in other situations
STEEPLE ANALYSIS
SOCIAL
Being a sweet lover country pastries can be easily accepted in the market. Children or adult can be the target market of the products offered by Goldilocks and being a celebration-oriented, cakes and other offering of the company has a great potential to sell its products.
TECHNOLOGICAL
In baking, there are upgraded ovens and equipments used. The technology today enhances the efficiency in making every products that result to less-cost pricing strategy. ECONOMIC
Because of the inflation rate of some of the ingredients of pastry products like flour and sugar there is a tendency of adjusting some of the factors in considering the pricing strategy of every products. It can be to increase the price or to decrease the level of amount of the ingredients in some of the products. The economic status of the country greatly affect every company and it has a great impact in the marketing mix and strategies of the company. ENVIRONMENT
In environmental factors, todays farming is in average level because we import some of the ingredients of pastries. Because the country is a typhoon prone are there are possibilities that there can be a shortage in sugar or flour that can result to shortage. However, they have a alternate solution for the supplies needed in making the products. The products offered by the company is highly dependent on agricultural products thus environmental factors should be monitored.
POLITICAL
The government monitors the exportation and importation of products that contributes a lot in the industry because some of the agricultural products especially the wheat, flour and sugar are from other countries. If they will not monitor it correctly it will affect the operation of the company and the whole pastry industry.
LEGAL
There are laws that protect the rights of the industry having ceiling prices of products and regarding increasing and decreasing of prices. The government protects the consumer by analysing first the situation before giving inflation in every products and services.
ETHICAL
There are department of health monitors the operation process, quality control and the cleanliness of the food offered in the food industry. Checking the ethics how the products are prepared and made to protect the health of the consumers. The company ensures that cleanliness and quality are offered in every products that they sell.. fresh from the oven .
THE ANSOFF MATRIX
Successful businesspeople spend a lot of time thinking about how they can increase profits. They’ll typically have hundreds of ideas about things they could do, including developing new products, opening up new markets and new channels, and launching new marketing campaigns. In the same way, people within organizations often have many different ideas about how they want to progress their careers. Perhaps they want to develop new skills, move into new roles, and even work in new industries. that a particular strategy will expose you to, the idea being that each time you move into a new quadrant (horizontally or vertically) you increase risk. (http://www.mindtools.com/pages/article/newTMC_90.htm#sthash.KwY4iomd.dpuf) The Ansoff Matrix – Business
Market Development
Diversification
As the company has penetrated the country by having different branches the Company will start to go outside country who has a large population of Filipinos. (e.g countries who has a many OFW,s) Targeting the every Filipino family who give importance to celebration and memories. The company will start to offer other products other than pastries and cakes. Start offering main dishes and other products of different provinces like (bagoong, tuna,sardines. Etc.) The company ell offer a fast food type in some of the branches of the Company.
Market Penetration
Product Development
Advertising that the company is giving importance to Filipino cuisine and Filipino values. To promote that the company sell the Filipinos cuisine pride that will has a delicious taste that every Filipino will love. Introduce a loyalty scheme in every products of the company. Informing the customer that the company give value to the culture of the Filipino consumer to get their interest and care. Upgrade the existing packaging of every products that shows how happy to buy the products. Offer related service, party organizing and related products. offer equipments in baking improve the flavours of the cakes that they offered and having a twist in some of the common flavours so that the customers will not prefer to change their loyalty brand.
BCG MATRIX
STAR
QUESTION MARK
CASH COW
DOG
The company is in the dog column because it has a low market share but has high market growth rate
PRODUCT LIFE CYCLE MATRIX
Introduction – simple bread
Growth – cakes with icing
Maturity – cakes with flavors
Decline – bread
PORTFOLIO ANALYSIS
According to a 2005 study by AC Nielsen, the world’s leading market research and information firm, Goldilocks enjoys a total product awareness of 100 percent, with seven out of 10 respondents mentioning it first. More impressively, Goldilocks has managed a full conversion of awareness-to-trial, and has done exceedingly well in retaining trial to regular purchase. It enjoys a committed customer base, and continues to attract even more. MARKET POSITIONING
The market position of Goldilocks in the market of pastries and bakeries is very strong that every Filipinos recognize cakes brand as Goldilocks. The company positioned in the minds of the market as a cake for all occasions and a best gift for celebrations. They caught the position of being the cake for all Filipino who love sweet foods and which give party for everyone. They also penetrated the online shop, and online buying. They make convenience environment and offer different products in different aged levels. They make sure that their products has a quality and will bring happiness to every customer. They also positions as the “ Pasalubong store” for your loved ones.
Chapter 3
THE MARKETING PLAN
Your company needs a vision, the vision demands a strategy, the strategy requires a plan, and the plan requires action. A Japanese proverb says: “Vision without action is a daydream. Action without vision is a nightmare.” You need to prepare a detailed marketing plan. But it makes more sense to call it a battle plan. Your plan should give you confidence that you will win the war before you engage in the first battle. If you aren’t introducing something better, newer, faster, or cheaper, you shouldn’t enter the market. SITUATION ANALYSIS
A systematic collection and evaluation of past and present economical, political, social, and technological data, aimed at identification of internal and external forces that may influence the organization’s performance and choice of strategies, and assessment of the organization’s current and future strengths, weaknesses, opportunities,
SWOT ANALYSIS
STRENGHT
They have a strong market position in the market
Their products and prices are very competitive in the market. They build brand loyalty in the market.
They offer delicious products and excellent service in their customer. WEAKNESS
Sometimes it is very sweet that is prone to diabetes.
Not all stores has a variety of flavours.
OPPORTUNITIES
The products can be exported to other countries.
There are lots of interested people who loved sweets and can be more loyal to the company. THREATS
Many people are now engaging in culinary arts that can cause for more competitors in the future.
NATURE OF PRODUCTS
Strategic Marketing plan and its link to Corporate Strategy
MARKET ANALYSIS
Consumer interest in pastries is being sustained by the increased availability of a range of pastries variants. Among the more innovative lines is Goldilocks bakeshop, which claims to give more happiness on every occasion. Initially available in malls.
CURRENT CORPORATE AND MARKETING SITUATION
KEY MARKET FACTORS
Philippine food companies face a number of issues as they compete in the marketplace. The following factor had been considered by major industry players to be crutial elements in sustaining competitive strategic marketing performance , Goldilocks being the one of the biggest player thereby adhere to these factor as follows; Advertising appeal
Product Quality
Price Competitiveness
Management
Financial Position
Customer Loyalty/ Perception (top of mind)
Manufacturing Location
COMPETITIVE ANALYSIS
Red Ribbon Bakeshop
Red Ribbon Bakeshop is another popular name in the bakeshop industry of the Philippines. Considered as the direct competitor of Goldilocks, Red Ribbon Bakeshop is known to provide the same type of cakes and pastries available in Goldilocks. Currently under the management of Jollibee Foods Corporation, Red Ribbon Bakeshop quickly became one of the most accepted and recognized bakeshop across the Philippines.
Bizu Patisserie
Bizu Philippines Patisserie is considered as one of the new additions to the few popular bakeshops and cafes in the Philippines. Although the name of the bakeshop is more like a French bakeshop, Bizu Patisserie is a proudly Filipino-owned bakeshop in the Philippines. Bizu is a name coined from a French word “Bisous” which means “Kiss”. In Filipino, this means “Beso-Beso”. Bizu Philippines Patisserie is a French inspired bakeshop that specializes in selling rench pastries and European breads. Although considered as a new comer in the market, Bizu Patisserie is quickly becoming a very popular place for cakes and pastries. – http://www.articlecity.com/articles/food_and_drink/article_2505.shtml
CURRENT GOLDILOCKS STRATEGIC MARKETING MIX
Goldilocks Menu
PRODUCT PRICES
Cake Rolls
Whole
Half
Brazo de Mercedes
285
185
Chocolate Roll
285
185
Choco Buttercreme Roll
270
175
Classic Mocha Roll
255
160
Double Dutch Roll
305
205
DuIce de Leche Roll
255
160
Mochanut Crunch Roll
270
175
Ube Macapuno Roll
255
160
GREETING CAKES
Round
8×12
12×12
12×16
Mocha Chiffon
300
425
600
750
Marble Chiffon
325
450
775
Chaco Chiffon
475
625
800
Tnple Delight
375
575
900
FRUITY CAKES
12” Round
Fruity Mocha
450
Fruity Choco
475
Fruity Neapolitan
500
Fruity Triple Delight 600
600
Fruity Marble
600
NOODLES AND PASTA
Single Serve
Baked Macaroni
62
Baked Lasagna
72
Palabok
60
Pancit Malabon
68
Sotanghon
58
Spaghetti
48
SIDE DISHES
DRINKS
Plain Rice
15
Softdrink in Can
40
Java Rice
25
Nestea Iced Tea
20
Plain Puto 3’s
17
Bottled Water
20
Buttered Puto’s 3’s
18
Siopao Asado
34
Siopao Bola-Bola
49
Snack Treat
6’s
12’s
Puffy Mamon
114
228
Special Mamon
138
276
Cheesy Ensaymada
150
300
Chiffon Cake Slice
120
240
Classic Brownies Box
200
Rocky Road Brownies Box
230
Triple Chocolate Brownies Box
230
Butter Macaroons Tray (28’s)
97
Classic Polvoron Box (18’s)
151
Polvoron Selection Box 420G.
174
Caramel Pop Corn 450G. (6’S)
84
BREADS
600g
400g
Sandwich Bread
59
44
Egg and Milk Bread
61
46
Wheaten Bread
66
48
Multigrain Bread 420g
60
Vegetable Bread 420g
62
NATIVE TREATS
Leche Flan
230
Buttered Puto Tray 12’s 65
65
VIANDS
Bistek Tagalog
78
Beef Caldreta
82
Kare-Kare
117
Dinuguan
60
Lechon Paksiw
87
Boots
72
Pork BBQ
32
Pork BBQ Jumbo
42
Pork Meatballs
70
Chicken BBQ
80
Golden Chicken
82
Fish Bistik
80
Rellenong Bangus
102
Fresh Lumpia
60
Laing
42
– See more at: http://ph.openrice.com/info/restaurant-menus/filipino-cuisine/goldilocks.
BRAND POSITIONING
The brand of the Company positioned as one the well known cakes and pastries in the Philippines. Having different flavours that Filipinos loved. They placed their brand in the minds of the consumer as one of the trusted cakes for all occasions and celebrations.
POSITION STATEMENT
For the most Filipinos, the Goldilocks fairytale has two versions: a golden-haired lass who encounters the three bears, and the bakeshop that has become an integral part of the Filipino way of life. At the forefront of its industry, the company enjoys a substantial lead over competitors in all aspects of performance. National consumer surveys have consistently identified Goldilocks as the landslide winner in customer satisfaction indices such as Awareness Conversion (the ability to translate brand awareness to actual trial) and Share of Heart (the emotional approach to measuring preference). More impressively, Goldilocks has managed a full conversion of awareness-to-trial, and has done exceedingly well in retaining trial to regular purchase. It enjoys a committed customer base, and continues to attract even more. Indeed according to a 2005 study by AC Nielsen, the world’s leading market research and information firm, Goldilocks enjoys a total product awareness of 100 percent, with seven out of 10 respondents mentioning it first. More impressively, Goldilocks has managed a full conversion of awareness-to-trial, and has done exceedingly well in retaining trial to regular purchase. It enjoys a committed customer base, and continues to attract even more. – http://www.goldilocks.com.ph/our-story/our-brand
CHAPTER 4
FINANCIAL ASPECT
Revenue12.3512.0810.789.9011.08Other Revenue, Total—–Total Revenue12.3512.0810.789.9011.08Cost of Revenue, Total5.655.365.084.454.78Gross Profit6.706.725.705.456.31Selling/General/Admin. Expenses, Total9.228.379.627.057.08Research & Development—–Depreciation/Amortization0.630.560.520.480.47Interest Expense(Income) – Net Operating—–Unusual Expense (Income)0.060.051.870.070.05Other Operating Expenses, Total—–Total Operating Expense15.5714.3417.0912.0412.37Operating Income-3.22-2.26-6.32-2.14-1.29Interest Income(Expense), Net Non-Operating—–Gain (Loss) on Sale of Assets—–Other, Net0.00-0.11-0.110.270.55Income Before Tax-3.29-2.37-6.42-1.87-0.74Income After Tax-3.29-2.37-6.42-1.86-0.74Minority Interest0.540.391.060.750.30Equity In Affiliates—–Net Income Before Extra. Items-2.75-1.97-5.36-1.11-0.44Accounting Change—–Discontinued
Operations—–Extraordinary Item—–Net Income-2.75-1.97-5.36-1.11-0.44Preferred Dividends—–Income Available to Common Excl. Extra Items-2.75-1.97-5.36-1.11-0.44Income Available to Common Incl. Extra Items-2.75-1.97-5.36-1.11-0.44Basic Weighted Average Shares—–Basic EPS Excluding Extraordinary Items—–Basic EPS Including Extraordinary Items—–Dilution Adjustment0.000.000.000.000.00Diluted Weighted Average Shares11.5711.5710.945.515.51Diluted EPS Excluding Extraordinary Items-0.24-0.17-0.49-0.20-0.08Diluted EPS Including Extraordinary Items—–Dividends per Share – Common Stock Primary Issue0.000.000.000.000.00Gross Dividends – Common Stock—–Net Income after Stock Based Comp. Expense—–Basic EPS after Stock Based Comp. Expense—–Diluted EPS after Stock Based Comp. Expense—–Depreciation, Supplemental—–Total Special Items—–Normalized Income Before Taxes—–Effect of Special Items on Income Taxes—–Income Taxes Ex. Impact of Special Items—–Normalized Income After Taxes—–Normalized Income Avail to Common—–Basic Normalized EPS—–Diluted Normalized EPS-0.23-0.17-0.32-0.19-0.07 www.google.com
Chapter 5
RECOMMENDED/PROPOSED MARKETING STRATEGY/STRATEGIES USING MARKETING MIX SALES ANALYSIS:
Regulators use fiscal and monetary policy tools to try to create an economy with these conditions. Economic conditions abroad, and regulators’ reactions to them, also influence whether an economy can achieve a Goldilocks state. This state is ideal for investing, because as companies grow, stocks perform well, and in the absence of inflation, bonds will hold their value. If GDP grows too quickly and inflation creeps up too quickly, however, the economy can overheat and a bust can result. While business cycles vary in intensity and duration, the U.S. economy typically goes through five phases as part of the business cycle: growth/expansion, peak, recession/contraction, trough and recovery. A Goldilocks economy may occur during the recovery and/or growth phases. The U.S. economy of the mid- to late-1990s was considered a Goldilocks economy because it was “not too hot, not too cold, but just right.” This term has also been used to describe the economy as it recovered from the tech bubble burst in 2003–2004 and as it expanded in 2013 after the housing bubble burst in 2008. Because we have business cycles, a Goldilocks economy should be considered a temporary state.
OBJECTIVE STATEMENT
Consumer interest in pastries is being sustained by the increased availability of a range of pastries variants. Among the more innovative lines is Goldilocks bakeshop, which claims to give more happiness on every occasion. Initially available in malls.
PRODUCT
Improving their pastries products, creating new product line like beverages and candies.
PLACE/DISTRIBUTION
Improving their target market , by distributing in some places not only in malls .
PRICE
They improved their prices , in high prices to low price to afford the regular customers .
PROMOTION
Goldilocks have to improved their promotion by TV ads and promotions . And more tv personalities can endorse the products . and have to improved their adds in websites. A short informal 3 seconds in one commercials .
Chapter 6
CONCLUSION/ACTION PLAN
Among the leading bakeshops in the Philippines, Goldilocks owned about 70 percent market share. The largest segment of the business-cakes-attained an all-time high of 74 percent market share. Red Ribbon was Goldilocks’ closest competitor with a 14 percent market share. Red Ribbon also had a bakeshop and a foodshop line parallel to Goldilocks. Red Ribbon has a 15 percent price premium over Goldilocks cakes. In 1995, Goldilocks sought its customers and asked them about images and memories of Goldilocks in focused group discussions (FGDs). According to research, an important Filipino value that typifies Goldilocks’ customers, that of being maalalahanin (thoughtful). Maalalahanin goes beyond the literal translation of being thoughtful. It could be understood as: to remember, to go out of one’s way, to be close and intimate, to be a close friend. Goldilocks understood that it was not enough to offer good tasting products to become a successful bakeshop. There was a need to develop relationships between buyers of Goldilocks’ product and the intended statement, “How thoughtful. How Goldilocks.” This has become associated with the Goldilocks name and logo.
