Marketing Plan of Goldilocks (Fishermall in Malabon)

I. Executive Summary

In the marketing plan, the marketing team analyzed the strength, weakness,

opportunities, and threats of the business competitors, suppliers, public, marketing

intermediaries and customers. In the analyzation, the marketing team identified and

highlighted the weaknesses and threats that should be prioritized and addressed. It is

stated in the prioritized objectives that there must be a creation of a unique product and

use of alternative ingredients to solve the problem in inflation. The target market of

business are the male and females ages 10 to 40, consist of students, parents, people with

white and blue collar jobs, which are classified in social class B that buy the products in

every different kinds of occasions. Based on the objective and the demands of the target

market, the marketing team suggested a new product which is a ChoCa (Chocolate-Carrot

Cake) for those who are conscious about their health. The cost is computed through Cost-

based Pricing and the product will be endorsed through the use of tarpaulins. The channel

used is the direct marketing channel.

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II. Environmental Analysis
STRENGTHS
Company: Goldilocks has
already established a strong
foundation in the market since
they are operating for a long
time
Competitors: Goldilocks will
be motivated to further enhance
their products due to the
presence of competition
Suppliers: Goldilocks has their
own factory at Mandaluyong,
Metro, Manila
Public: Since they cater a wide
range of local public and
attracts them through various
offerings, their profit also
increases
Marketing Intermediaries:
The selling of a product is easier
since there are multiple
branches or outlets that can sell
the products of Goldilocks to
the final customers
Customer: If the standards and
conditions of the millennial
consumers are met, they will be
loyal customers to Goldilocks
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WEAKNESSES
Company: The weak
performance of their Human
Resource and marketing may
lead to customer dissatisfaction
and decrease in sales and other
negative factors that can impact
the company's performance
Competitors: Challenges that
the company faces because of
different competitors
Supplier: Since they produce
their own supplies or materials,
if something bad happened in
their factory, it will negatively
affect the production of goods
Public: Numerous negative
comments that can give bad
image to the company
Marketing Intermediaries:
Since there are multiple outlets,
the cost or expenses may
increase, there might be
damages to the product, and the
transaction process might be
complicated
Customer: If the standards and
conditions of the millennial
consumers are not met, they
will look for other bakeshops
that will suit their needs
 OPPORTUNITIES
Political: Goldilocks follows
the Expanded Senior Citizens
Act of 2010 (Republic Act
9994) that aims to give 20%
discount and exemption to
Value-Added Tax to senior
citizens.
Legal: Since they got approvals
and permits from different
departments and agencies, the
customers can be assured and
have more trust in their business
operations
Social: Goldilocks is in
advantage because it includes
aspect of culture or tradition
where in Filipinos love cakes
Technological: Because the
company is partnering with
Starcom MediaVest Group
(SMG), that uses advance
technologies, they can create
and publish high quality and
catchy advertisements and
promotional ads
Environmental: They produce
tote bags that are made of flour
bags and canvas margins
Economic: Philippines is a
globally competitive country in
terms of business industry, thus
different companies, including
Goldilocks, decided to step up
their game in the field to
increase their sales
Legend:
Yellow – First priority
Blue – Second priority
Gray – Third priority
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THREATS
Political: They got involved in
a corruption issue so their image
might be affected
Legal: In 2010, workers did a
rally due to labor rights
violation (illegal dismissal of
workers)
Social: Goldilocks is in
disadvantage, in terms of
lifestyle and health, because
more people tend to eat
healthier foods rather than
sweets
Technological: Other
bakeshops promote their
products in televisions more
often than Goldilocks does,
making them more at
disadvantage
Environmental: Goldilocks
tend to focus more on projects
in communities and societies
Economic: Due to inflation, the
cost of the product will be
affected by the rising of prices
of the ingredients used
III. Description of Target Market

The target market of Goldilocks is males and females with the age bracket of

18 to 40 years old. The target market consists of working students, parents, and

white and blue collar-job workers. The estimated income of their target market

ranges from 20-40 thousand pesos a month. They are classified in a Social class B

and they usually buy products in times of special occasions because they are still

not that conscious about their health unlike those who are already health

conscious. The branch that the marketing team chose is located inside Fishermall

in Malabon. They buy Goldilocks’ products for various purposes, such as when

parents buy products for their children as baon or snack in school and when

families buy cakes for special occasions like Christmas, birthdays, and other

celebrations.

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 IV. Objectives

Weakness
1. Competitor As times goes by, a lot of bakeshops are now
present in the industry. Hence, the company
should strengthen their promotion of their
products and make a variety of unique goods
in order for them to have an edge against
other bakeshops.
2. Customer In this era, the main market of every business
industry is the Young Urban Professional
Purchasers (Yuppies). The company should
meet and satisfy the needs and wants of
yuppies so that they will not look for other
bakeshops that lead to the company at
disadvantage. Therefore, the company should
widen their marketing research to easily
choose the right strategy to implement.
3. Public The image of the company to the public is one
of the most important aspects that the
company should consider because it serves as
a background on what kind of product/service
your company serves to their potential or
actual buyers. Thus, the company should
enhance the benefits that the local public
could get from them so that the public will be
influenced to patronize their products.

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 Threats
1. Economic Due to inflation, the cost of the product will be affected by the
rising of prices of the ingredients used. In conclusion, the
company should look for alternative ingredients that also have
the same quality.
2. Social Goldilocks is in disadvantage, in terms of lifestyle and health,
because more people tend to eat healthier foods rather than
sweets. Therefore, the company should create a new product
such as vegan cake that is more favorable to the health of
Filipinos.

(See article. Source:

https://www.manilatimes.net/2017/01/23/business/columnists-
business/market-become-health-conscious/308429/?
fbclid=IwAR2ODEqpl-3gxPgISdNQxv8rB9agkMw3GY-
mLVYSmbH7LAfj627ndnS2Wno)
3. Legal In 2010, workers did a rally due to labor rights violation
(illegal dismissal of workers). Goldilocks should properly
follow the rights of their employees as they are a part of
generating the income of the company.

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V. Development of Marketing Mix

a. Product

ChoCa (Chocolate-Carrot Cake)

- It is an innovated product for those who are health-conscious but

still want to satisfy their sweet tooth. It is also a product that can be

consumed by people of all ages.

- Carrot is an ideal ingredient for a vegan cake as it can be produced

all year round especially in places that have wet and dry seasons

like the Philippines. Therefore, the company can be assured that

there will be no problem in supply.

b. Price

Cost-based Pricing

- It is a common type of pricing where in the selling price is based

on the total amount of expenses used in producing the product.

- This type of pricing can be applied in the newly innovated product

because it is still yet to launch.

c. Place

Direct Marketing Channel

- Goldilocks employs direct marketing channel because it has its

own store and sells directly to its customers.

Goldilocks Customers

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d. Promotion

Advertising: Tarpaulin

- Tarpaulin is used as a promotional tool for the new product of

Goldilocks in order for the potential and actual customers to be

attracted to the new product. It will be placed outside Fishermall in

Malabon and inside the actual store.

Advertising: Social Media

- The new product is endorsed in various accounts of Goldilocks in

social media like in Facebook or in its own website to appeal more

to the customers since social media is widely utilized in today’s

generation.

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 VI. Implementation

A. Drawing (kindly refer to the next page)

B. Recipe

For the Carrot Cake:

 2 cups (250g) All Purpose Flour

 1 tsp Baking Powder

 1 tsp Baking Soda

 1/2 tsp Salt

 2 tsp Ground Cinnamon

 1 tsp Ground Nutmeg

 2 and 1/3 cups (255g) Grated Carrot

 1 and 1/2 cups (300g) Brown Sugar

 2 Flax Eggs (2 Tbsp Ground Flaxseed Meal with 6 Tbsp Water)

 1/2 cup (120ml) Extra Virgin Olive Oil*

 1 tsp Vanilla Extract

 1 Tbsp Apple Cider Vinegar

For the Lemon Buttercream Frosting:

 3 and 3/4 cups (450g) Powdered (Confectioners) Sugar

 3 Tbsp Vegan Butter

 1 tsp Vanilla Extract

 2 tsp Apple Cider Vinegar

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  3–4 Tbsp Fresh Lemon Juice

INSTRUCTIONS

1. Preheat the oven to 350°F (180°C).

2. Grease two 7-inch cake pans and line the bottoms with parchment paper.

3. Sift the flour, baking powder, baking soda, salt, cinnamon and nutmeg into a

mixing bowl.

4. Add the grated carrot and the brown sugar.

5. Prepare the flax eggs, by mixing 2 Tbsp Flaxseed Meal with 6 Tbsp Water and

allowing to sit for a minute.

6. In the meantime, add the oil, vanilla and apple cider vinegar to the mixing bowl.

7. Add the flax eggs.

8. Mix everything together in the mixing bowl. Have a little patience and let the

batter sit for a minute or two so that the carrots can release more water into the

batter to enable you to mix it all together.

9. *If your batter is still too dry to mix after letting it sit for a couple of minutes (and

only if it’s too dry to mix after sitting for a few minutes) then add in a little non-

dairy milk, only as much as you need to get the batter to a wet enough consistency

so that it can mix properly.

10. Lastly add the chopped walnuts if you want to add them.

11. Divide the mixture between the two 7-inch cake tins.

12. Place into the oven and bake for 30 minutes or until a toothpick inserted into the

center comes out clean.

13. Allow the cakes to cool completely on a cooling rack.

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 14. While the cakes are cooling, prepare your frosting.

15. Add the powdered sugar, vegan butter, vanilla, apple cider vinegar and 3 Tbsp of

lemon juice to an electric mixer bowl.

16. Start mixing on low speed.

17. If your frosting is too thick then add in more lemon juice a drop at a time as

needed to get your frosting mix to the perfect consistency. If your frosting ends up

too thin, add more powdered sugar.

18. Add frosting to the top of one of the layers.

19. Add the other layer on top and complete the frosting of the top and sides of the

cake.

20. Serve the cake.

Source:https://lovingitvegan.com/vegan-carrot-cake-lemon-buttercream-frosting/?

fbclid=IwAR2uxCAH9mpnP63u9_J5IazT1oJtHu6xFbZCXL8Dw5FDP7b38w17iz2IM_s

C. Formula

 2 kilograms All Purpose Flour = Php. 52.00

 100 grams Baking Powder = Php. 24.00

 250 grams Baking Soda = Php. 50.00

 1 kilogram Salt = Php. 10.00

 100 grams Ground Cinnamon = Php. 60.00

 37 grams Ground Nutmeg = Php. 120.00

 1 kilo Carrots = Php. 70.00

 1 kilo Brown Sugar = Php. 42.00

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  6 Eggs = Php. 54.00

 180 ml Extra Virgin Olive Oil = Php. 77.00

 20 ml Vanilla Extract = Php. 42.00

 473 ml Apple Cider Vinegar = Php. 100.00

 750 grams Powdered (Confectioners) Sugar = Php. 90.00

 225 grams Vegan (Unsalted) Butter = Php. 53.00

 1 kilo Cocoa Powder = Php. 65.00

 3/4 kilo Fresh Lemon Juice = Php. 37.00

Note: 1 cake = 10 slices or 10 small packs 4 cakes = 40 small packs

Daily Variable Cost = Php. 1,226.00 Packaging Cost = Php. 15.00 (per
pack)

Daily Fixed Cost: Rent = Php. 600.00 = Php. 100.00 (25x4

- cake)
Electrical = Php. 400.00 Advertising = Php. 80.00 (40x2)

Water = Php. 250.00 Labor (per day) = Php. 200.00

= Php. 1,250.00

Total = Php. 2,582.00

Cost-based Pricing = Fixed Cost + Variable Cost ( + Packaging Cost)

Total Product Units

= Php. 1,250.00 + 1,226.00 + 100 = Php. 644.00

4 cakes 40 slices

Unit Cost = Php. 644.00 (unit cost) = Php. 16.1 + 15.00

Mark-up Rate = 20% (mark-up rate) = (31.1 x 20%) + 31.1

Selling Price = Php. 773.00 (whole cake) = Php. 37.00 (per small pack)

D. Comparison

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 a. Rocky Road Cake

b. ChoCa (Chocolate-Carrot
Cake)

Comparison of Dedication Cakes

Rocky Road Cake ChoCa (Chocolate-Carrot Cake)
Price Php. 516.00 Php. 773.00
6’RD 7’RD
Size
Note: 1 RD = ½ inch
Calories 6,545 (whole cake) 5,170 (whole cake)

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 VII. Marketing Control/Evaluation

This table shows the schedule of implementing the new product in the Goldilocks,

Fishermall in Malabon:

Date Activity
Introduction and official launching of the
December 1,2020 new product: ChoCa (Chocolate-Carrot
Cake)
Survey-evaluation/feedback to the
March 1 - 7,2020 customers of Goldilocks in the Fishermall
in Malabon about the new product

Results of the survey conducted in

Goldilocks in Fishermall Malabon
45
40
35
Results of the survey
30 conducted in Goldilocks
25 in Fishermall Malabon
20
15
10
5
0
Kids Teenagers Adults Senior Citizens

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 Has the market become more health conscious?
BY MA. LUISA DELAYCO
JANUARY 23, 2017

When I go to the supermarket these days I often see people reading the back
labels of the food products they are about to purchase, checking if the ingredients are
organic or synthetic. This behavior is also becoming more evident among mothers, like
me, who, while doing their weekly grocery shopping, also educate their children about
the need to check the product label and spot ingredients that are unsafe to eat. Did our
parents scrutinize product labels as we do now? In my days as a youth I usually
accompanied my mom to the grocery store, and I have no recollection of her checking
product labels and ingredients.

The 2016 Health and Wellness in the Philippines’ report of Euromonitor indicated
that Filipinos are now starting to demand healthy food.

Last year, a group of students I supervised did qualitative research on health-

conscious mothers and their behavior. These mothers belonged to the A&B socio-
economic class, 36-45 years old and with kids aged 2-8 years old. The research showed
that the respondents were willing to pay for quality food since they were “very particular
about what they put in their bodies.” They were also asked about their feeding/eating
behavior. Here are excerpts from the respondents’ replies:

“As much as possible, we don’t eat sugar”

“We make sure we give our two-year-old son natural juices.”

“We make sure the formula given does not have corn syrup.”

“We eat yogurt with fruits or granola.”

“The first thing I look for when I buy food products is the nutritional facts label.”

For this segment, healthy eating means variation, eating more vegetables and fruits,
including yogurts, nuts and milk in the list.

Another report, released by Nielsen in 2015, showed two emerging product trends
among Filipinos. These were products appropriate for a healthy lifestyle and products
made of natural ingredients. Those mentioned as suitable for a healthy lifestyle also
included good food habits and daily exercise. Meanwhile, products made of natural
ingredients were those that had fresh, natural, pure and organic ingredients. The same
report indicated that 68 percent of the ABC socioeconomic class is concerned about
staying healthy and avoiding illnesses.

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 There is a growing consciousness about the negative effects of unhealthy food
consumption. These include being overweight, or obese, and an increase in lifestyle-
related illnesses. Lifestyle-related illnesses include coronary heart disease, stroke,
influenza or pneumonia, tuberculosis, diabetes and cancers. According to the Department
of Health, Ischaemic heart attack, stroke, and cancer are the leading causes of death
among Filipinos. According to the Philippine Cancer Society, on the other hand, colon
cancer is on the rise among Filipino males.

My observations among my younger colleagues are that they patronize healthy-

meal-plan delivery services; that they are already taking maintenance medicine; and that
they are into health and fitness activities. Given this health awareness, it is interesting to
find out if the health-conscious market will grow and lower the incidence of lifestyle-
related diseases. Or will the life insurance premiums for critical illnesses be material for
the Philippine market and continue to be more expensive?

Dr. Maria Luisa Chua Delayco is an associate professor of Marketing at De La

Salle University. She has been connected with the university since 1997 as a teacher,
department chair and dean. She was dean of the RVR College of Business from 2014 to
2016. She welcomes comments at ma.luisa.delayco@dlsu.edu.ph. The views expressed
above are the author’s and do not necessarily reflect the official position of DLSU, its
faculty and its administrators.

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