Secret Recipe Plan free essay sample

After the authorization of Secret Recipe as a title of our assignment by respected lecturer, we would able to start assignment on time. Our team of 8 members has been queried to assess the market for Secret Recipe in order to develop a marketing strategy with properly planning’s for the Secret Recipe. The main objective of we doing this report is to identify the Secret Recipe currently management and communication level in business in order to develop an successful marketing planning in future for our evaluation of assignment . We did this through completing a market analysis, determining the current strengths, weaknesses, opportunities, and threat that Secret Recipe facing currently. As we know, the Secret Recipe Cakes and Cafe have established their brand name in Malaysia, Singapore, Indonesia, Australia, Thailand, China, and Brunei. The purpose of this business plan is to analyze the strategic planning for Secret Recipe Cakes and Cafe. The strategic planning is able to help the Secret Recipe Cakes and Cafe to expand and build the brand name and increase the company sales and profit. Across Malaysia the cafe business has seen an explosion growth in these few years. In our market research, there are few competitors such as Old Town Cafe, QSR branch, Starbucks and Coffee Beans provide the food and beverage service. The explosion growth in cafe business provides the variety choice for customers to dine out. Therefore, company should be able to provide the food and service based on the domestic consumer behaviour. The Secret Recipe cafe has over 150 outlets throughout Malaysia and Asia. The distribution channel through the franchise is able the Secret Recipe product distribute equally and efficiently. In the analysis report, the current trend in Malaysia is the customers prefer dining outside from their home these days. Nowadays, the consumers are more concerned the quality of food and services. In addition, the customers have the purchasing power due to higher wages and good financial background but some portion of lower income level customer will have the constraint upon purchasing power. MISSION The mission of the Secret Recipe cafe is to redefine the lifestyle by setting the benchmark in specialty cake, fusion food and services. On the other hands, the Secret Recipe cafe also combats to produce the high and standard quality to increase the brand value. In enhance to increase the customer’s satisfaction and serve premium quality products. VISION The Secret Recipe cafe strives to success to increase the brand awareness and good brand impression. The cafe strives to control and self regulate on the food and service quality. The core values proposed by the Secret Recipe cafe Quality The principle of Secret Recipe Cafe is to maintain the food and beverage quality to maintain good relationship with customers. This is because the Secret Recipe Cafe produces their cake and food with quality ingredients to lead the high satisfaction for the customers. Dedication This is normal a company to maximize performance and productivity in business. The company should be setting the goals, focusing the result, and obligation on to earn the profits to maintain the growth of the company. Besides that, the company should not focus on the short term gain but long term profitability. Concept The Secret Recipe Cafe having the unique concept in the food menu and cakes. Besides that, the Secret Recipe cafe assists the domestic and international food and beverages. The Secret Recipe produces the food and beverage according to the culture and behaviour of the customers. Service The friendly, quality and unique service will distinguish apart from the other competitors. The service will help the company to maintain relationship with their customers. Result oriented The feedback and the complaints from the customers will influence the management and operation of the company. It is importance to gauge the growth of the company. Secret Recipe has successfully established in brand name in Malaysia, Singapore, Indonesia, Thailand, China, Philippines, Pakistan, Brunei and Australia by virtue of its fine quality cakes, fusion food and distinctive service. A leading and largest cafe chain in Malaysia, with Halal certification awarded by Jabatan Kemajuan Islam Malaysia (JKIM), Secret Recipe in committed to continue to adhere to the standards of preparations of all food and processing plant in the restaurant in accordance to the regulatory guideline including HACCP and VHM guidelines. Customers can always enjoy in confidence from more than 20 types of fusion food, 40 cakes creations and pastries, with a flavourful range of ice cream and beverages offered in all Secret Recipe outlets. In a short period of 13 years, Secret Recipe has experienced a rapid growth of over 150 cafes throughout the region. Secret Recipe continuously strives to surplus its own accomplishments and to be recognized as a leader in the industry. Goal The goal of Secret Recipe is to constantly provide the best and quality goods and excellent customer service. Besides that, they also hope to provide the highest satisfaction to all its valued customers. For example, they gather personal information in the registration form so that with this information, they can understand the customer’s needs and wants much better and provide a more enhanced and personalized shopping experience for them on their internet store in the future. Personal information is kept solely for internal marketing and billing purposes only. Focus Secret Recipe delivers a high-quality meal quickly, at a reasonable price, and is deeply focused on server- customer interaction. However, Secret Recipe was concerned that its traditional system of handwritten orders and cash registers was restricting the chain’s potential for growth. Culture Secret Recipe had very much focused on brand building early on. It created its own logo, corporate colour, marketing strategies, uniforms, menu layout, interior design and customer service standards. To be different, Secret Recipe identifies the features of a brand that can extend beyond. These features are what make a brand truly unique and distinctive compared with its competitors. Strength The products offered at Secret Recipe are high in standard and quality, which specially crafted and tailored by the Secret Recipe. The products are also closely monitored to maintain their quality at their production plant and the restaurant also offers wide selections of secret recipe of home-made cakes, baked desserts, beverages, fusion foods and many others. Weaknesses Even though the range of prices offered at Secret Recipe is affordable, but it is only focused to serve the middle income group and higher. Lower income group may not have the ability and chances to try their product and decrease the number of customer they could acquire. Macro-environmental Pest Analysis Political Malaysia is a federal parliamentary monarchy, the Prime Minister of Malaysia is the head of government, and there is multi-party system. The Party in Power The ruling party, which is also a coalition, is the  Barisan Nasional (National Front) consisting of  United Malays National Organization (UMNO)  and 13 other parties, most of which are ethnically based. Other parties include  Democratic Action Party (DAP), Parti Islam se Malaysia (PAS)  and  Parti Keadilan Rakyat (PKR). In total there are more than 30 registered political parties, all of which are represented in the federal parliament. Taxes The major proportion of government revenue comes from taxes, totalling 76 percent of revenue in 1999 (46 percent from  direct taxes  and 30 percent from  indirect taxes). In 1999, the  income tax  rate was 28 percent for both resident and non-resident companies; however, companies resident in Malaysia have tax exemption on income brought in from abroad. The Malaysian government has introduced a number of initiatives for manufacturing activities, tourism, the agricultural sector, transportation, and communication. Trade Policy Trade policy is to pursue trade liberalization through the rule-based multilateral trading system under the World Trade Organization (WTO). Free trade agreements (FTAs) have traditionally been confined to trade in goods. However, after the establishment of the WTO, trade in services has been included in many FTAs. FDI /FII structure Malaysia government has a generally favourable attitude toward foreign investment, especially regarding projects that facilitate technology transfers, create high skilled jobs and contribute capital to economy. New ventures in the manufacturing sector may be 100% foreign owned, the financial sector is being liberalized and capitol controls on overseas investments have been relaxed. Any FDI that seeks to acquire assets in Malaysia including ownership of businesses without giving clear benefit to Malaysians will be actively discouraged. All industrial projects must be approved by the Malaysian Industrial Development Agency (MIDA) which has lately stopped granting approvals in what it views as low productivity industries.