Marketing strategy of Ohmycake in Scaling Up by Scaling Back

Posted by Zander Henry on Aug-22-2018

1. The vision of Ohmycake in Scaling Up by Scaling Back

The vision of Ohmycake in Scaling Up by Scaling Back is to be the leading quality service and product provider for customers. Being the best and the leading player means that Ohmycake in Scaling Up by Scaling Back marketing strategy and operations focus on:

• Providing high quality of products and services
• Providing value to customers
• Concentrate on building customer experience

2. The mission of Ohmycake in Scaling Up by Scaling Back

Ohmycake in Scaling Up by Scaling Back marketing strategy is grounded in its mission. The mission for Ohmycake in Scaling Up by Scaling Back is to be the favorite brand of the customers. This mission is essential for the marketing strategy of Ohmycake in Scaling Up by Scaling Back as it focuses on all operations and marketing activities in the direction of:

• Consumer centrism
• Using research to understand and influence consumers

3. Brand Equity of Ohmycake in Scaling Up by Scaling Back

Understanding and knowing the brand equity is vital for directing and giving meaning to the marketing strategy of Ohmycake in Scaling Up by Scaling Back. The knowledge of brand equity will help in shaping Ohmycake in Scaling Up by Scaling Back marketing strategy effectively – thereby facilitating the growth of business for Ohmycake in Scaling Up by Scaling Back.

3.1. Brand awareness

• Ohmycake in Scaling Up by Scaling Back has high brand awareness because of international operations
• The company focuses on higher budget allocation in the country of origin
• Each market for Ohmycake in Scaling Up by Scaling Back has modified marketing and strategic directives and plans

3.2. Brand association

• Ohmycake in Scaling Up by Scaling Back is directly associated with the brand name and product category
• Ohmycake in Scaling Up by Scaling Back has a broad product portfolio
• Ohmycake in Scaling Up by Scaling Back is associated with promising and delivering quality and innovative products
• Ohmycake in Scaling Up by Scaling Back is also associated with excellent customer service

3.3. Brand loyalty

• Ohmycake in Scaling Up by Scaling Back has been successful at gaining high consumer loyalty because of unique and influential marketing strategy
• Ohmycake in Scaling Up by Scaling Back has a global customer base
• Ohmycake in Scaling Up by Scaling Back keeps adding value addition to the products and product portfolio to keep consumers engaged

3.4. Brand asset

• Ohmycake in Scaling Up by Scaling Back has a substantial brand value
• Ohmycake in Scaling Up by Scaling Back also enjoys the high financial worth
• Ohmycake in Scaling Up by Scaling Back focuses on building a reliable and robust employee base

3.5. Brand element

• Ohmycake in Scaling Up by Scaling Back uses the brand element as a means of competitive advantage
• Uses adaptability in product, services, and marketing to meet different cultural demands

4. Situational Analysis of Ohmycake in Scaling Up by Scaling Back

The situational analysis will help in developing the marketing strategy of Ohmycake in Scaling Up by Scaling Back by conducting a thorough market analysis. This market analysis will aid in understanding the compatibility between external opportunities and other factors, and internal strengths – to be used to maximize the marketing influence of Ohmycake in Scaling Up by Scaling Back.

4.1. SWOT

4.1.1. Strengths

Ohmycake in Scaling Up by Scaling Back marketing strategy can benefit from the following internal advantages:

• Strong brand image
• Global distribution network
• Investment in market research
• Innovation

4.1.2. Weakness

Ohmycake in Scaling Up by Scaling Back faces challenges in marketing strategy because of the following weakness:

• Slow organizational processes
• High product prices

4.1.3. Opportunity

Ohmycake in Scaling Up by Scaling Back has the following possibilities of business growth:

• Green lifestyles
• Regional expansion
• Diversification

4.1.4. Threats

Ohmycake in Scaling Up by Scaling Back faces business threats because of the following factors:

• Increased competition
• Increased imitation

4.2. PESTEL

4.2.1. Political

• Ohmycake in Scaling Up by Scaling Back operates I markets with political stability
• Ohmycake in Scaling Up by Scaling Back has funding support from the government for small businesses

4.2.2. Economic

• Ohmycake in Scaling Up by Scaling Back enjoys high sales because of higher GDP
• Lower interest rates make business expansion and loaning easier for Ohmycake in Scaling Up by Scaling Back
• Low inflation strengthens the financial position of Ohmycake in Scaling Up by Scaling Back

4.2.3. Social

• Higher education and awareness increases sales of Ohmycake in Scaling Up by Scaling Back predict
• Ohmycake in Scaling Up by Scaling Back focuses on understanding consumers and fulfilling their demands through its offerings

4.2.4. Environmental

• Ohmycake in Scaling Up by Scaling Back has an active CSR program
• Ohmycake in Scaling Up by Scaling Back ensures environmental safety in all its operations

4.2.5. Legal

• Ohmycake in Scaling Up by Scaling Back is aware of local and global laws of business and human resource management
• Ohmycake in Scaling Up by Scaling Back abides by all statutes – especially labour law, discrimination law, and employee safety laws

4.3. Porter’s Five Forces

4.3.1. Threat of substitutes

• High risk of replacements
• Substitutes offer similar products at low prices

4.3.2. The threat of new entrants

• New entrants need high financial investment
• New entrants need updated technology for keeping par with industry progress

4.3.3. Bargaining power of buyers

• Sales made to end consumer directly
• Stocking of products at retailers, as well as own-controlled retail outlets

4.3.4. Bargaining power of suppliers

• Multiple suppliers of raw materials
• Suppliers are chosen after careful inspection, and through contracts

4.3.5. Industry rivalry

• High industry rivalry
• Players offer similar products
• Players compete through marketing to influence consumers

5. Marketing Objectives for Ohmycake in Scaling Up by Scaling Back: The Marketing Strategy of Ohmycake in Scaling Up by Scaling Back

Ohmycake in Scaling Up by Scaling Back marketing strategy has the following objectives for the current financial year:

5.1. Increased market penetration

• Increase top of mind recall for Ohmycake in Scaling Up by Scaling Back brand and products by 30%
• Increase sales for Ohmycake in Scaling Up by Scaling Back by 40% by the third quarter of the financial year
• Achieve a trial rate for new products of 10% during the first quarter of the launch
• Increase consumption rate of existing products by 45% during the current financial year

5.2. Enhanced brand recognition

• Increase top of mind recall by 65% during the current fiscal year
• Increase brand recognition by 80% during the first two quarters of the current financial year

5.3. Increased use of digital marketing

• Acquire 25,000 new online customers during the financial year
• Increase website traffic through using blogging and email tactics effectively by 505 during the first two quarters of the year
• Acquire 65,000 likes on the official Facebook page of Ohmycake in Scaling Up by Scaling Back during the first quarter of the financial year

5.4. Retail Growth

• Contract with five more leading supermarkets in the first quarter of the year to stock product at eye level shelving
• Contract with two leading online retail sites – eBay and Amazon – to stock our products, and increase accessibility for consumers globally by the second quarter of the financial year

6. Segmentation of Ohmycake in Scaling Up by Scaling Back

Ohmycake in Scaling Up by Scaling Back marketing strategy uses different means of segmentation to reach an increase in market penetration.

6.1. Demographic segmentation

6.1.1. Age

Ohmycake in Scaling Up by Scaling Back has consumers of age groups

• 20-45 years
• 45-60 years

6.1.2. Gender

• Ohmycake in Scaling Up by Scaling Back has a broad product portfolio for both males and females

6.1.3. Life-cycle stage

Consumers for Ohmycake in Scaling Up by Scaling Back, according to the marketing strategy, are in the following various life cycle stages:

• Single students
• Single graduates
• Single people living at home/not living at home
• Young couples without children
• Married couples with one to four children – all at home
• Married couples with one or two children in college
• Old married couples with an empty nest

6.1.4. Occupation

The marketing strategy devises the following occupations for Ohmycake in Scaling Up by Scaling Back consumers:

• Professionals
• Students
• House makers

6.2. Psychographic segmentation

6.2.1. Social class

• Ohmycake in Scaling Up by Scaling Back focuses on segments of middle-upper and upper social classes

6.2.2. Lifestyle

Ohmycake in Scaling Up by Scaling Back consumer segments have the following lifestyle characteristics:

• They aspire towards a better and higher living standard
• They want to be successful – professionally and socially
• They are not hesitant to try new things, products and services in life
• They are confident in their behaviour and attitude
• They are mainstreamers in their fields

6.3. Geographic segmentation

6.3.1. Region

• Ohmycake in Scaling Up by Scaling Back has operations spread across the western developed countries such as America, the united kingdom, and the Netherlands
• It also has operations in emerging markets such as Brazil, India, and China

6.3.2. Density

• The focus of Ohmycake in Scaling Up by Scaling Back remains on the urban part of the population

6.4. Behavioural segmentation

6.4.1. Personality

The marketing strategy defines personality characteristics for the consumers of the brand of Ohmycake in Scaling Up by Scaling Back, such as:

• Determined
• Confident
• Ambitious
• Hardworking

6.4.2. Usage frequency

• The consumer segments for Ohmycake in Scaling Up by Scaling Back are regular and frequent users of the product

6.4.3. Benefits sought

• Consumers seek functional benefits
• The focus, however, is more on the emotional benefits reaped from the consumption of the brand

6.4.4. Degree of loyalty

• Consumers are very loyal
• Have an emotional attachment with the brand

7. Targeting of Ohmycake in Scaling Up by Scaling Back Positioning of Ohmycake in Scaling Up by Scaling Back

The marketing strategy of Ohmycake in Scaling Up by Scaling Back targets consumer groups based on segmentation as follows:

7.1. Target market

• The target market for Ohmycake in Scaling Up by Scaling Back is from middle to upper class
• The target market is ambitious and desires to purchase high-end consumer products
• This target market also seeks affordability
• To meet target market expectations, the Ohmycake in Scaling Up by Scaling Back focuses on quality control

7.2. Mass marketing

• The marketing strategy of Ohmycake in Scaling Up by Scaling Back focuses on mass marketing
• This also requires unique marketing designs and product promotion programs
• Ohmycake in Scaling Up by Scaling Back makes use of one strategy to influence all segments

7.3. Undifferentiated marketing strategy

• Ohmycake in Scaling Up by Scaling Back does not differentiate between market segments
• It uses a single marketing strategy to target all segments and consumer groups
• Based on this, Ohmycake in Scaling Up by Scaling Back also created the marketing mix under the marketing strategy as a singular one for the whole market – regardless of the segmentation divides.

7.4. Focus on quality

• Ohmycake in Scaling Up by Scaling Back has created, developed, and maintained a brand that satisfies all consumers under the undifferentiated marketing strategy and mass marketing
• No compromise on quality has been made in the broad product portfolio
• To ensure the influence of a single marketing strategy, the Ohmycake in Scaling Up by Scaling Back has also adopted a consumer-centric approach in its overall marketing strategy and operations as well
• This was used for targeting strategy as well as for maintaining growth

8. Company Competitive Advantage in the marketing strategy of Ohmycake in Scaling Up by Scaling Back

The marketing strategy of Ohmycake in Scaling Up by Scaling Back stands out from the clutter and competition. Ohmycake in Scaling Up by Scaling Back has also achieved a sustainable competitive advantage in its marketing strategy. This is because of the following factors that Ohmycake in Scaling Up by Scaling Back has utilized:

8.1. Cost-effectiveness

• Ohmycake in Scaling Up by Scaling Back focuses on reaching consumers effectively rather than grandeur
• Ohmycake in Scaling Up by Scaling Back focuses on developing an integrated marketing approach
• The use of digital marketing efficiently and expertly has helped the company reach a wider audience at a lower cost
• Ohmycake in Scaling Up by Scaling Back has in-house copywriters for marketing campaigns which also helps in controlling costs
• Ohmycake in Scaling Up by Scaling Back also focuses efforts on ground activities – which are less expensive than commercial marketing tactics

8.2. Innovation

• Ohmycake in Scaling Up by Scaling Back has stayed updated with latest developments in marketing research and marketing knowledge
• Ohmycake in Scaling Up by Scaling Back makes use of new and innovative tactics to reach its target consumers
• Ohmycake in Scaling Up by Scaling Back also employs top of the field marketers to facilitate its marketing strategy and promotional campaigns
• Each marketing campaign launched by Ohmycake in Scaling Up by Scaling Back is effective catchier and more influential than the previous one

8.3. Strong market research and consumer understanding grounded

• Ohmycake in Scaling Up by Scaling Back marketing strategy is strongly grounded in consumer and market research
• Ohmycake in Scaling Up by Scaling Back makes informed marketing campaigns and goals based on consumers’ behavioural feedback
• Ohmycake in Scaling Up by Scaling Back also incorporates consumer feedback in its marketing strategy
• Ohmycake in Scaling Up by Scaling Back marketing strategy is based on market trends, and consumer needs and wants

8.4. Making effective use of emotional appeals

• Consumers’ emotional needs strongly influence all marketing objectives and marketing goals set by Ohmycake in Scaling Up by Scaling Back
• In addition to fulfilling functional needs, Ohmycake in Scaling Up by Scaling Back also tries to fulfil the emotional and psychological needs of the consumer
• Ohmycake in Scaling Up by Scaling Back tries to build a strong emotional bond with the consumer, which also results in high consumer loyalty

9. Distribution Strategy of Ohmycake in Scaling Up by Scaling Back

Ohmycake in Scaling Up by Scaling Back marketing strategy highlights the use of the following distribution strategy to maximize reach and accessibility for consumers.

9.1. Intensive distribution strategy

• Ohmycake in Scaling Up by Scaling Back makes use of intensive distribution strategy because it is mass marketing
• Ohmycake in Scaling Up by Scaling Back’s marketing strategy is based on undifferentiated segments, and thus an intensive distribution strategy allows high penetration and reaches in the overall market
• With the use of the intensive distribution, Ohmycake in Scaling Up by Scaling Back tries to maximise its coverage of the markets where it's present
• For achieving the intensive strategy, the company uses hardcore 360-degree integrated marketing strategy and campaign to reach all consumers, across all segments in the market.

9.2. Direct distribution strategy

• Ohmycake in Scaling Up by Scaling Back uses direct distribution country of origin as well as in locations where it has subsidiary operations
• The Ohmycake in Scaling Up by Scaling Back also makes use of modern retailing channels
• Also, Ohmycake in Scaling Up by Scaling Back makes use of e-commerce and makes a sale through online retailers, as well as through the company website
• Direct distributions have allowed Ohmycake in Scaling Up by Scaling Back to increase market penetration and accessibility for consumers

9.3. Indirect distribution strategy

• This strategy is largely used for offshore operations where the Ohmycake in Scaling Up by Scaling Back does not have a subsidiary
• In these offshore locations, Ohmycake in Scaling Up by Scaling Back largely works through the export model
• This makes use of several intermediaries in between, before the product by Ohmycake in Scaling Up by Scaling Back reaches the target consumers
• Intermediaries for Ohmycake in Scaling Up by Scaling Back include not only the end retail outlets, but also sales agents, retail agents, and distribution agents in offshore locations

9.4. Selective distribution strategy

• For some products of its portfolio which are premium in nature, Ohmycake in Scaling Up by Scaling Back makes use of selective distribution channel
• Ohmycake in Scaling Up by Scaling Back has maintained a few outlets in the country of origin, and in selected offshore markets for these products
• These placements and locations are chosen based on the niche market that Ohmycake in Scaling Up by Scaling Back has for its premium products
• These locations, placements, and marketing strategy helps make the company’s product selectively, but readily accessible for its niche target audience

10. Competition Analysis in the marketing strategy of Ohmycake in Scaling Up by Scaling Back

The industry in which Ohmycake in Scaling Up by Scaling Back operates is very responsive to market and consumer trends. Ohmycake in Scaling Up by Scaling Back, therefore, needs to be vigilant in its market strategy towards competition – to make sure that it maintains its competitive advantage.

10.1. Strategic Group Analysis

• Ohmycake in Scaling Up by Scaling Back competes with direct and close competition based on quality and price
• Consumers choose between different companies from the industry based on their functional offering
• Consumers have progressively evolved to strengthen loyalty and form an emotional bond with products that they consume
• Ohmycake in Scaling Up by Scaling Back also competes, thereby, with close competition for building stronger brand image, increasing consume loyalty, and for forming strong emotional ties with the consumer

10.2. Industry rivalry

• Ohmycake in Scaling Up by Scaling Back experiences high industry rivalry
• The barriers to entry for the industry are low, and new entrants gain easy access in the industry
• The number of local as well as global players is increasing

11. Marketing mix of Ohmycake in Scaling Up by Scaling Back

The marketing mix for Ohmycake in Scaling Up by Scaling Back as per the marketing strategy is the following:

11.1. Product

• Ohmycake in Scaling Up by Scaling Back has a broad product portfolio
• Ohmycake in Scaling Up by Scaling Back provides mass marketed products for all segments across the market undifferentiated
• Ohmycake in Scaling Up by Scaling Back also provides some selected, premium products to niche customer groups
• All products in the portfolio consistently maintain high quality
• All products are tailored to meet consumer specifications, demands and needs across different regional markets
• The Ohmycake in Scaling Up by Scaling Back maintains a high focus on innovation in products and introduces new products frequently to keep the consumers engaged

11.2. Place

• Ohmycake in Scaling Up by Scaling Back wants to have a close, emotional and personal relationship with its consumers
• The company maintains high control in its distribution strategies – especially through direct distribution strategy
• The company has a presence in leading supermarkets
• The Ohmycake in Scaling Up by Scaling Back also has company-operated stores in malls, and otherwise to make products accessible to consumers easily
• Ohmycake in Scaling Up by Scaling Back also makes use of e-commerce to increase penetration and sales

11.3. Price

• The Ohmycake in Scaling Up by Scaling Back prices its products so that its target consumers can afford it easily
• Ohmycake in Scaling Up by Scaling Back uses relative pricing strategy for its products
• The price of Ohmycake in Scaling Up by Scaling Back’s products include not only the high quality raw materials and value additions but also the enhanced customer experience they deliver
• The company’s pricing strategy allows it to enjoy stable revenue and profit growth

11.4. Promotion

• The Ohmycake in Scaling Up by Scaling Back has a high budget allocated towards marketing activities
• The Ohmycake in Scaling Up by Scaling Back invests substantially in digital marketing activities to reap high and effective results
• Use of digital marketing has also allowed Ohmycake in Scaling Up by Scaling Back marketing strategy to cap costs and expenses
• Ohmycake in Scaling Up by Scaling Back also takes part in direct consumer engagement through on-ground activities where the company initiates trials
• Ohmycake in Scaling Up by Scaling Back also invests in traditional media channels to reach maximum consumers in the market

11.5. People

• Ohmycake in Scaling Up by Scaling Back has a large workforce across different companies
• This workforce is continually trained to become experts in their respective fields of operations
• Ohmycake in Scaling Up by Scaling Back hires without discrimination
• Ohmycake in Scaling Up by Scaling Back ensures that its employees remain motivated through building an inspirational and creative organizational culture
• Ohmycake in Scaling Up by Scaling Back focuses on also building and maintaining organizational commitment and loyalty in its employees

11.6. Process

• All activities at Ohmycake in Scaling Up by Scaling Back - from raw material procurement to the final sale to the end consumer - undergo systematic processes
• The processes at Ohmycake in Scaling Up by Scaling Back are well defined, and well communicated to all employees
• All employees are trained to follow the processes internally to ensure consistently high quality as well as timely production and deliveries
• The systematic processes also ensure a smooth running of operations at the Ohmycake in Scaling Up by Scaling Back

11.7. Physical evidence

• The physical evidence for Ohmycake in Scaling Up by Scaling Back includes the company logo, company store designs, and the product packaging
• Satisfied and excited customers in the retail spaces of Ohmycake in Scaling Up by Scaling Back, as well as during product consumption create a bubbling and an inviting atmosphere
• The e-commerce website for retail by Ohmycake in Scaling Up by Scaling Back is also designed with a friendly customer interface to allow maximum interaction with the brand
• The store designs created by Ohmycake in Scaling Up by Scaling Back for its retail space allow consumers maximum interaction with the products directly.

12. Promotional tactics for the marketing strategy of Ohmycake in Scaling Up by Scaling Back

12.1. Digital marketing

• The company uses social media for reaching consumers effectively
• The Ohmycake in Scaling Up by Scaling Back interacts with the consumers directly, and engages with them, answers their queries and takes their feedback
• The company also shares information and build relationships with consumers through digital marketing
• Ohmycake in Scaling Up by Scaling Back also makes use of blogging, emails, and content creations as a means of digital marketing

12.2. Conventional marketing

• The company uses a 360-degree approach in its marketing strategy
• This means that the company makes use of traditional marketing channels as well – such as TV, magazine adverts, and out of house placements

12.3. Influencers

• For direct, on-ground engagement, the company uses influencers
• Influencers interact with consumers directly, or through their channels of communication as a means of content creation and endorsing the Ohmycake in Scaling Up by Scaling Back brand

13. Monitoring and evaluation of the marketing strategy of Ohmycake in Scaling Up by Scaling Back

13.1. Changes in sales

• Ohmycake in Scaling Up by Scaling Back regularly tracks its sales to identify the effectiveness of its marketing strategy
• Increase in sales reflect the success of marketing strategy of Ohmycake in Scaling Up by Scaling Back
• Sometimes, Ohmycake in Scaling Up by Scaling Back experiences increase ins ae after some time of the launch of the marketing promotions

13.2. Surveys and focus groups

• Ohmycake in Scaling Up by Scaling Back frequently conducts focus groups and surveys to identify its brand worth
• These methods also help the company identify brand value, brand recall, and brand recognition
• Focus groups allow Ohmycake in Scaling Up by Scaling Back to gather feedback on its marketing strategy and helps it understand consumers better

13.3. ROI

• Effectiveness of marketing strategy of Ohmycake in Scaling Up by Scaling Back can also be seen through the revenue and profit growth
• Return on investment allows Ohmycake in Scaling Up by Scaling Back to effective gauge the effect and influence of the marketing strategy, and measure its success

13.4. Attainment of marketing objectives

• All marketing objectives set by Ohmycake in Scaling Up by Scaling Back are SMART
• The quantitative set against each of the marketing objective can facilitate attainment evaluation for the overall marketing strategy
• Successful and timely attainment of these marketing objectives highlight the success of the marketing strategy of Ohmycake in Scaling Up by Scaling Back