Identifying market characteristics for an organization is a way to establish a productive business and resolve all operational issues. As an analysis company, the bakery chain will be used. It produces bakery products and supplies them to restaurants and supermarkets. In particular, the company has several branches and produces yeast products including traditional bread and cakes. According to Chuang and Hu (2017), a wide range of products can help gain a large market share. As a result, the sale of bakery products aims to cover the bakery market for both ordinary consumers and retail chains.
The analysis of a competitive target market involves assessing a related manufacturing industry. As Lifshits and Skulin (2019) state, this activity includes evaluating both the price category of goods and their production specifics. In particular, vegan baked goods may be considered a potentially competitive market. Non-animal products are popular with individual consumers, and studying this market share can help determine the percentage of such consumers and reorganize the company’s manufacture if necessary.
A value proposition statement for the company in question implies identifying the advantages of the offered products, the needs of the target audience, as well as the merits in comparison with competitors’ manufacturing. The bread and cakes produced by the company in question are made from environmentally friendly raw materials and meet quality standards.
Consumers in need of healthy bread can opt for these products since the bakery chain’s products are certified in accordance with government norm and do not violate the sanitary principles of manufacturing. Compared to vegan products, the company’s bread and cakes taste good and are widely accepted by both casual consumers and foodservice chains. Therefore, the company can expand its share of production and increase the range of buyers.
References
Chuang, C. C., & Hu, F. L. (2017). Experiential marketing strategy: The empirical study of 85 C Bakery Cafe. International Research Journal of Applied Finance, 8(3), 129-142.
Lifshits, A. S., & Skulin, V. A. (2019). Directions and results of forecasting in the bakery products market of Ivanovo oblast. Studies on Russian Economic Development, 30(2), 172-176. Web.