IntroductionThereason that why we choose Secret Recipe this organization as our choice forthis assignment is because all of us like to eat and are interested on whateverfoods and desserts.
Secret Recipe had released the menu for lunch or dinner anddesserts. The best sell of the Secret Recipe is the cakes. All levels of peopleare like to have desserts after meals especially for Western family. For Asianfamily, we prefer to buy Secret Recipe’s cake as our birthday cake because itis worthy although the price is expensive than other cafés. Some of the whitecollars like go to the Secret Recipe for their tea times because Secret Recipehad released the combo or set while tea time.
Therefore, Secret Recipe is agood choice for have meals and desserts especially cakes. SegmentationThemarket segmentation of the Secret Recipe had separate into 3 main marketsegment that is geographic segmentation, demographic segmentation, andpsychographic segmentation. The meaning of market segmentation is to let abigger market divide into a distinct group of the customers according to theirneeds. By using this way, the organization can comprehend about the needs orbehaviours of the different groups of customers that they are targeting.Geographic segmentationThemarket segment of geographic segmentation is based on the countries and theregions. Secret Recipe had many branches in other countries but not only inMalaysia.
Therefore, Secret Recipe attracted many varieties of internationalcustomers. In different countries, there must be many races especially inMalaysia. Secret Recipe was release the menu of the desserts that havedifferent type of taste. Therefore, the customers that come from othercountries can tries other taste of the desserts in other countries. Customerswill not be tired and they also will have the interest to go to other countriesto taste Secret Recipe’s desserts or foods, they will not only see and eat thesame desserts or foods when they at the other country.
If a café opened in the downtowndensely populated, then it will bring higher profits for that café. HenceSecret Recipe naturally chosen the densely populated downtown where is KualaLumpur as their geographic segmentation.Demographic segmentation Inthe aspect of the demographic segmentation, customers are divided according tothe age and life-cycle segmentation, gender segmentation and the income segmentationof the customer. For Secret Recipe, theyset the target of the customers in between age 10 and age 70. This is becauseall of this age groups are potentially interested in desserts. Furthermore,Secret Recipe had released the cakes that suitable for all level of customers. Inthe terms of revenue, the revenue of Secret Recipe’s target customer ismiddle-high-income or high income workers that who are at RM2000-RM3000 orabove, so even if the customer often spend in Secret Recipe will not causetoo much financial burden on themselves.Therefore, the customers will not be pressure to purchase a Secret Recipe’scake.
For the customers that do not have a higher income that wanted to tasteSecret Recipe’s cake, they can purchase a piece of the cake. Psychographic segmentationInterms of psychographic segmentation, Secret Recipe is making appropriateadjustments on the menu of the café according to the modern customerslifestyles. Modern lifestyle, customers are more accustomed to spending in arestaurant more than a café.
Hence, Secret Recipe was not just introduced themenu of desserts but also introduced the menu for meals for lunch and dinner.In this way, customers can enjoy the desserts at the same time can enjoy theirmeals. Therefore, the Secret Recipe customers do not need to go for other placesfor their meals and then come to the Secret Recipe for having their desserts. Market TargetingMarkettargeting was through a series of group of the customers that have a commonneed to develop the characteristics of the company’s services.
In a differentassessment of market segments, a company need to take attention on the segmentsize and growth of the market, subdivide the attractiveness of the overallmarket structure and the ways to meet the company’s goals and resources.Marketing targeting strategies divide into four stages that areundifferentiated marketing, differentiated marketing, concentrated marketingand micro marketing. In these four stages of the process, the target market ofthe company will from a wide range of target and then will slowly evolved intoa specific target range. Therefore, the company will just target a group of thebuyers that they wanted to serves.Undifferentiated MarketingInundifferentiated marketing, Secret Recipe was taking the action to use a popularflavours dessert to attract most of the buyers indifferently.
Secret Recipe wasgets on the undifferentiated marketing according to the whole market needs. Byusing this strategy, Secret Recipe will be loveable by most of the customers.Differentiated MarketingIndifferentiated marketing, market segmentation and the pricing of the dessertswill become major changes of the Secret Recipe. A company must be design an independentquote according to the market segment of the company. For example, SecretRecipe subdivision the most popular desserts that had purchased by differentlevel of age group and gender of customer and then set a reasonable of theindependent quote for those desserts.
Hence, Secret Recipe will kill two birdswith one stone by using this strategy. This is because Secret Recipe will gainsome profits and the customers of the Secret Recipe would not feel the dessertsthat they purchased were not worth it.Concentrated MarketingConcentratedmarketing will no longer to using the undifferentiated marketing and willselecting some several market segments that have more effectiveness fortargeted the market positioning of the company. For instance, women are givingsome specific promotion time and can enjoy the discount when they purchase theproduct of that company. This is to create more possible market that bring itup by womenMicro MarketingAcompany only will use the micro marketing while the concentrated marketingspecific the target market and according to the local marketing to carry outtheir targeted marketing to their customers. Secret Recipe will get on the pricepromotion in a densely populated downtown, then the customer of that area willhave heard the information of the promotion in the social platform nearby.Lastly,Secret Recipe will promote their company’s website through the social mediaplatform.
Secret Recipe will update the information of the company’spromotional activities and release the launches of the new product and thepreviews of the product in the company’ website. By using this way, thecustomer of the Secret Recipe will be easier to get the information and they donot need to go to the actual café to get the information. PositioningThevalue proposition for Secret Recipe is to provide many variety of cake such asdesigns and the flavours of the cake to their customers.
They will use the highquality of the ingredients and use suitable amount of the ingredients to make adelicious cake. This is to make the customer can enjoy a high-quality cake thathad introduced by Secret Recipe and this will position Secret Recipe as a highquality for the micro luxury brands. The appetite of cake lovers and consumerwill position Secret Recipe as a high quality and delicious café. Therefore,strength and the ability of Secret Recipe will be the competitive advantage fortheir company.
The Secret Recipe’s customers will be enjoying the cake thatthey purchased because it is worth it.Therehave multiple benefits that belong to Secret Recipe. Secret Recipe were sellinga small piece of cake. The Secret Recipe’s customer can just purchase a singlepiece of cake. For those customers who have more members can purchasedifference flavours that they like into a complete cake or half of the cake. Thus,customer no need to buy the whole cake that just have one flavour and they canenjoy different flavours of cakes when they just purchase once. Secret Recipewill provide a service that free of charge that is customer can request towrite a message on the cake, such as birthday wishes.
Besides that, SecretRecipe was pre-emptive and bold to design a different flavour of cakes. Thatthe other café or cake shop can’t easily copy the difference. Although thecompetitor can copy the design of the dessert but they can’t create the flavourthat similar to Secret Recipe’s dessert.
Thevalue proposition of Secret Recipe is more for more in the wining valueposition. This is because Secret Recipe had used high-quality of ingredients tomake the cake. So, in terms of pricing, Secret Recipe have sold their cakes ata reasonable high price. This is to cover the expenses of Secret Recipe.Assummarizes, Secret Recipe is the high quality café that provide a higher qualitycake to all cake lovers and the wants to purchase a cake.