Marketing and Goldilocks Essay Example

children and their mothers and to connote luck and prosperity. The founders never imagined that this fairy tale concept would lead to real-life success. Through hard work, dedication, and an unwavering commitment to customer satisfaction, Goldbricks has become the largest Filipino-owned bakeshop chain in the world.

As a global brand, Goldbricks has expanded to more than 420 stores in the Philippines and overseas markets, employing over 2,000 people. The opening day sales of IPPP in 1966 have multiplied significantly. Goldbricks operates as a franchising business.Goldbricks, situated in 21 branches across Zebu (SMS City, Loyal Center, Mandate Flyover, Loyal Center - Kiosk, Laugh, Colonnade, E-Mall, Fiesta 24, Gaining Zebu, Gaining Country Mall, Gaining Fiesta Mall, JOY Square, La Palomar, Lap-Lap, Metro Pacific Mall in Mandate, Mangling, Pier Zebu, Robinsons Zebu, South Bus Terminal, South Super HI-way), offers a wide range of specialty cakes, breads, sweet breads, natives cakes, native treats and candies, and assorted snacks suitable for all seasons. The company has successfully established Goldbricks as a global brand by embracing regional roots and local culture. They have built strong connections with Filipinos and are recognized as an integral part of Pinion culture. The brand aligns with Filipino values such as thoughtfulness, care, and love for family. With the tagline "You're the 1 Goldbricks!", the company positions itself as the leading bakeshop in the country. In comparison to competitors, Goldbricks excels in providing excellent customer service that is fast and courteous. They cater to a wide range of customers including those from the upper Class C. B. TARGET MARKET Goldbricks strategically locates its branches in SMS City where many people frequent, making it easily accessible

to their target market. Their target market includes young urbanites who are both traditional and non-traditional sweet food lovers.

Goldbricks bakeshop focuses on satisfying the taste buds and expectations of their target customers by creating delicious cakes and pastries with reduced designs. Their target customers include individuals aged 5 years old and above, regardless of gender, and with high, middle, or low income. They aim to cater to all social classes. Goldbricks aims to provide products that are affordable yet of high-quality and value. They prioritize freshness by delivering baked goods to stores daily, straight from the oven. Additionally, they strive to meet international standards while accommodating the Filipino taste through constant development of new products.

The store has categorized its delicious and moist fluffy cakes and pastries into six categories, which are Cake Rolls, Greeting Cakes, Fruity Cakes, Snack Treats, Breads, and Native Treats. The pricing of Goldbricks products is affordable compared to other bake shops. The prices may vary depending on the flavor and size of each variety. All branches have the same prices for the products. If one branch increases the price of a product, it is expected that the other branches will also increase the price of the same product. Overall, Goldbricks prices their products to be just enough for their target customers. (See Appendix A for the Product Prices) Goldbricks has established many branches throughout the world, including stores in terminals and malls. Most branches are located in Luzon. In Zebu, they have 21 branches mainly in big malls. The location of these malls makes it a suitable choice for Goldbricks to establish its branches in Zebu. SMS City in Zebu

is known as one of the biggest and busiest malls, easily accessible to many consumers. It offers a comfortable ambiance for customers to chill and relax while enjoying the food. The environment perfectly suits the taste of its target market as well.

Goldbricks utilized franchising as a means to expand their business. The franchiser granted the right to use their established business model and brand. Franchising serves as an alternative to establishing chain stores, allowing for the distribution of goods without the investment and liability associated with a chain. The success of the franchiser is dependent on the success of the franchisees. Essentially, the franchiser is a supplier who permits an operator or franchisee to utilize their trademark and distribute their goods. In return, the operator pays a fee to the supplier.

Goldbricks promotes their business through various channels. They have their own website which provides basic information about the business, contact details, branch locations, current products, and other promotions. They also maintain a Facebook page as a platform for interaction with customers. Billboards are used to showcase popular products and current promotions. Brochures are utilized to display pricing information for their range of offerings. Mass media advertising is employed, featuring well-known actors and actresses to promote their products. Sidewalk tarpaulins are also utilized for advertising purposes.

Competitor analysis plays an important role in marketing and strategic management. It involves evaluating the strengths and weaknesses of both existing and potential competitors.

Goldbricks faced competition from several rivals, which motivated them to work harder and seek improvements in their products. In Section III, the SOOT analysis illustrates the current marketing situation of Goldbricks, including their strengths, weaknesses,

opportunities, and threats (Figure 2). The company has been in existence since 1966, and their branches have an attractive presentation. They have good brand recall, and customers associate their brand with value for money. However, the company lacks proper supervision of waste disposal management and has incomplete facilities for waste disposal. They also have a pending case filed by EDEN. On the other hand, there are opportunities to improve their waste management and facilities and to win awards in the food industry. They can also expand their company beyond the food industry to gain global recognition. However, there are threats such as losing investors and a decrease in efficiency, as well as customers switching to another bakeshop due to lack of trust in Goldbricks. To overcome these weaknesses, Goldbricks should prioritize cleanliness and proper waste disposal to ensure the health of their customers.The lack of proper waste facilities can be dangerous not only for Goldbricks' customers but also for their employees. This can lead to decreased productivity among employees. Goldbricks should comply with Sanitation and Environment Management requirements and educate their employees on proper waste disposal. It is important to address any pending cases from EDEN to protect the company's reputation. To turn environmental threats into opportunities, Goldbricks can develop new products with high perceived value and effective branding. They can also venture into new product lines such as Bakery Equipment or Cakes and Pastries ingredients. Expanding globally will increase profits and make the company more accessible to customers worldwide. Efficient operations and an excellent supply chain are key to achieving these goals. Marketing objectives for Goldbricks include capitalizing on Filipino eating habits, maintaining quality

products, brand loyalty, experience management, strong financial backing, and relationship management. Continued expansion in the market and awareness of competitors are crucial for sustained growth and revenue generation.

To maintain their solid profits, Goldbricks considered alternative strategies, including optimizing their supply chain to reduce costs. The marketing plan focused on improving promotional tools to attract more customers and expand the number of outlets. Specifically, the objectives were to increase customer base, provide expert and friendly service to encourage repeat purchases, and sustain a 20 percent monthly sales growth.