Write 11 page essay on the topic Real-world issue pertaining to your respective internship Statement of the Problem/Research Project for San Francisco ShengKee Bakery).Two major opportunities surfaced
Write 11 page essay on the topic Real-world issue pertaining to your respective internship Statement of the Problem/Research Project for San Francisco ShengKee Bakery).
Two major opportunities surfaced in terms of wedding cake business and competitor analysis. The first project statement was to expand the bakery chain’s customer base through extending the business. This would be done by opening an exclusive wedding cake business, which at present is integrated within the bakery business and produces average revenues. The second research statement was to perform a market research on Sheng Kee’s competitors in the Bay area, which was further used for making strategies for competitive advantage.
The methodology included both secondary and primary surveys. Secondary survey included researching upon the company’s website as well as other websites providing information about the company, its brand awareness and overall popularity among the target customers. These included social media websites such as, Facebook and Twitter and consumer forums. Primary survey was done by observing the average number of weddings occurring in the region on a weekly and monthly basis. Analysis of the competitors was done through close observation of the competitor bakeries in the Bay area.
The findings suggested that although Sheng Kee has gained popularity and brand awareness in the California area, it is a comparatively new and unknown brand for the profitable customer groups. The findings obtained also suggested that the wedding cakes are known only to the middle income group customers. The findings from the competitor analysis revealed that competition is becoming intense with increase in new bakeries and addition of new flavors and variants by the competitors.
The recommendations were given based on the findings and analysis of the same. Overall, it was suggested that the bakery chain should carry out personal marketing strategies in order to target upper-middle class and upper class customers of the age group 24-35. As far as competitors in the Bay area are concerned, it was suggested that