Product:
We will be marketing a cupcake boutique located in Newport Beach. Our cupcake boutique will specialize only on cupcakes but will have the competitive advantage of being fully customizable. Customers will start with the cake flavor of their choice which then they can add their own frosting and finish off with a bar full of toppings.
Customers:
Our customers will be between the ages of 18-24 mainly. We are aiming to have our location be modern and a place where friends can come not only to get cupcakes but to hang out in a fresh environment with great design and music.
We will cater to moms who would like to order specially themed cupcakes for their kids birthday parties or anyone else who would like specially themed cupcakes.
Our target market will most likely grow because people of all ages like cupcakes. It is just easier to market desserts to younger people ages 18-24 but the more popular our cupcakes become with the younger population, the more likely we will attract the older population too.
Our customers buy our cupcakes to taste unique flavor combinations that they create themselves. They also come to get the experience of our friendly staff and socialize with their friends in a very young environment.
Our relationship with customers will be a friendly relationship-building environment. When the customer walks into our shop they are actually walking into our home kitchen.
Competitors:
Our competitors in Newport Beach will be Sprinkles cupcakes, Casey's cupcakes, and Susiecakes.
Our competitive advantage is that our customers will buy cupcakes to get the experience of creating your own masterpiece. Not all customers like frosting and they will have that option. Many customers have not had different combinations of cake and frosting flavors so we will give them that. Our toppings will include ones you would normally find in a "yogurtland" which many cupcake stores have not offered. When you go to other cupcake stores you are often faced with a menu of options that are pre-made that day and sometimes they do not even have the one you like available.
Our barriers to entry will be finding a suitable location that attracts a young crowd. Start-up costs will not be too much but will include the price of:
-Our lease
-Interior Remodeling
-Ovens
-Tables and Chairs
-Frosting Dispenser
-Registers
-Staff
You guys look like you've got a well thought out plan here! Keep up the great work!
ReplyDeleteThank you!
DeleteGood marketing plan. Can I ask why you want to market in Newport Beach?
ReplyDeleteWe chose Newport Beach because we believe that there is a large customer base there that will consist of children, young adults, and parents.
DeleteDo you guys serve gluten free, animal product free, allergen free?
ReplyDeleteYes we will aim to satisfy the needs of those who have special dietary requirements. Not all of our toppings and flavor combinations will be gluten free, vegan, or allergen free, but we will be offering a number of options that are.
DeleteNice! Looks like you already have a game plan for this product! There are a lot of cupcake shops within the area though, and several of them are well known and popular. How will you advertise this idea so your shop gains the spotlight? I like the idea of make your own masterpieces on the cupcakes though! Good job!
ReplyDeleteThanks for commenting! Yes we are aware that there are many well established cupcake shops within the are. This will be a large threat to us, but our competitive advantage will be that our customers will be able to create their own cupcake rather than choose one from a menu. We will likely utilize mainly social media platforms with other local methods such as mailing coupons.
DeleteGood Marketing Plan guys. Keep up the great work :)
ReplyDeleteKenny Trinh
Thank you, Kenny!!
DeleteThank you, Kenny!!
DeleteHey A team, I love the cup cake boutique idea and newport is a great place for this kind of business. Ive seen similar shops in the newport area especially in fashion island so im sure they could provide all sorts of smart marketing ideas. Newport has plenty of wealthy individuals that im sure would love the idea of a cupcake boutique.
ReplyDeleteHey A team, I love the cup cake boutique idea and newport is a great place for this kind of business. Ive seen similar shops in the newport area especially in fashion island so im sure they could provide all sorts of smart marketing ideas. Newport has plenty of wealthy individuals that im sure would love the idea of a cupcake boutique.
ReplyDeleteThanks for the awesome feedback, Shervin! The reasons you listed were definitely the driving factors as to why we decided to locate in Newport Beach.
DeleteGreat Marketing Plan; You guys have a very clear idea of where you are heading with this.
ReplyDeleteThis sounds like a great plan! i LOOOOOVE cupcakes, ill take a dozen coconut!! yummy :)
ReplyDelete