Baked By Melissa Marketing Case Study

1. Tuesday, November 18, 14

2. CASE STUDY MKT3000 by Alessandra Rao Tuesday, November 18, 14

3. 09 14 11 01 01 01 Tuesday, November 18, 14

4. 09 first bakery opened 14 11 01 01 01 Tuesday, November 18, 14

5. 09 first bakery opened 14 11 01 01 01 locations in NYC & NJ Tuesday, November 18, 14

6. 09 first bakery opened 14 11 01 01 01 locations in NYC & NJ flavors to choose from Tuesday, November 18, 14

7. 09 first bakery opened 14 11 01 01 01 locations in NYC & NJ flavors to choose from mini of the month Tuesday, November 18, 14

8. first bakery opened locations in NYC & NJ flavors to choose from mini of the month dollar for a cupcake 09 14 11 01 01 01 Tuesday, November 18, 14

9. first bakery opened locations in NYC & NJ flavors to choose from mini of the month dollar for a cupcake bite and it’s gone! 09 14 11 01 01 01 Tuesday, November 18, 14

10. first bakery opened locations in NYC & NJ flavors to choose from mini of the month dollar for a cupcake bite and it’s gone! 09 14 11 01 01 01 THE STORY Tuesday, November 18, 14

11. first bakery opened locations in NYC & NJ flavors to choose from mini of the month dollar for a cupcake bite and it’s gone! 09 14 11 01 01 01 THE STORY Tuesday, November 18, 14

12. ’08: Melissa is fired Follows passion Inspired by care-free rock & roll 60’s and 70’s More flavors, less guilt ‘09: SoHo store opens Tuesday, November 18, 14

13. ’08: Melissa is fired Follows passion Inspired by care-free rock & roll 60’s and 70’s More flavors, less guilt ‘09: SoHo store opens Tuesday, November 18, 14

14. Tuesday, November 18, 14

15. UNIQUE SELLING PROPOSITION: More chances to try different flavors without the guilt trip. Tuesday, November 18, 14

16. SWOT ANALYSIS Tuesday, November 18, 14

17. STRENGTHS ✤ small size, fewer calories ✤ create your own cupcake ✤ mini of the month ✤ convenient locations WEAKNESSES ✤ Price does not match size ✤ store is small / no seats ✤ only sells cupcakes OPPORTUNITIES ✤ high tourism season ✤ popularity of mobile apps ✤ profitability of bridal industry THREATS ✤ trend in healthy eating ✤ NYC is saturated with bakeries Tuesday, November 18, 14

18. TARGET AUDIENCE Tuesday, November 18, 14

19. DEMOGRAPHICS ✤ Geographic area: NY and NJ ✤ Occupation: College Students ✤ Age: 17 - 28 ✤ Income: $0 - $9k ✤ Geographic area: NY and NJ ✤ Occupation: White Collar Professionals ✤ Age: 25 - 45 ✤ Income: $65k 1 2 Tuesday, November 18, 14

20. PSYCHOGRAPHICS ✤ Personality: Artistic, free-spirited ✤ Open to trying new things (flavors) ✤ Lifestyle: Explorer ✤ Conformity Level: Mainstream ✤ Educated ✤ Residence: Urban ✤ Frequently uses: social media, TV Tuesday, November 18, 14

21. CURRENT PERCEPTION Original primary data collected via Google Survey 71 Respondents 58 % recommend it 90 % heard of it Taste most favored Price least favored + - GO 25 % attended a party that served Tuesday, November 18, 14

22. PROBLEMS & SOLUTION Tuesday, November 18, 14

23. PROBLEMS 01. Size/price ratio 02. Discrepancy = = Size Price Tuesday, November 18, 14

24. PROBLEMS 01. Size/price ratio 02. Discrepancy = = Size Price Tuesday, November 18, 14

25. MARKET TRENDS Tuesday, November 18, 14

26. MARKET TO BRIDES Rebrand & expand so that brides turn to for catering to their special event! Tuesday, November 18, 14

27. MARKET TO BRIDES Rebrand & expand so that brides turn to for catering to their special event! Tuesday, November 18, 14

28. MARKET TO BRIDES Rebrand & expand so that brides turn to for catering to their special event! DEMOGRAPHICS 29 Average age 31 NY Average age 12 % spent > 40k 69 % said economy did not affect their wedding budget PSYCHOGRAPHICS ✤More diet conscious ✤ Willing to pay more ✤ prioritize versatility and quality ✤ presentation is key Tuesday, November 18, 14

31. POP-U-LAR 25 % weddings Huffington Post WHY BRIDES MAKE THE PERFECT 42 million weddings per year 36 % Fall Weddings 25 % choose purple as their theme color The Knot #SMARTPHONES 60 % use smart phones for planning 58 % take and share wedding pictures 47 % search wedding vendor contact info BIG SPENDERS order cupcakes instead of cakes 71 thousand spent on average NYC wedding 49 thousand spent on average NJ wedding 41 thousand spent on Rhode Island OUR STRATEGY: TARGET AUDIENCE The Knot The Knot Tuesday, November 18, 14

38. MARKETING MIX Tuesday, November 18, 14

39. PRODUCT Tuesday, November 18, 14

40. PRODUCT Focused on customization & presentation 1. Improve packaging: cute arrangements, not plastic 2. Purple is the new color: 25% choose purple theme 3. Keep the small size: brides are weight conscious Tuesday, November 18, 14

41. PRODUCT Focused on customization & presentation 1. Improve packaging: cute arrangements, not plastic 2. Purple is the new color: 25% choose purple theme 3. Keep the small size: brides are weight conscious Tuesday, November 18, 14

42. PRICE price spent on typical cake # of you get for the same price Cost of cupcakes per guest Cupcakes per guest cupcakes free when you refer a bride percent off on your next event 540 600 3.8 4.3 25 20 Source: http://www.bakedbymelissa.com/Checkout/ ProductDetails.aspx?productId=246&categoryId=129# Tuesday, November 18, 14

43. PRICE price spent on typical cake # of you get for the same price Cost of cupcakes per guest Cupcakes per guest cupcakes free when you refer a bride percent off on your next event 540 600 3.8 4.3 25 20 Increased loyalty Higher chance that these customers will order from Baked By Melissa for their baby showers and children’s birthdays Source: http://www.bakedbymelissa.com/Checkout/ ProductDetails.aspx?productId=246&categoryId=129# Tuesday, November 18, 14

44. PLACE Source: http://weddingindustrystatistics.com/bridal-industry/wedding-industry- statistics-from-the-knot/ “78% of brides use online wedding planning tools” More storefronts located near bridal stores AVERAGE WEDDING BUDGET BY AREA New York City: $70,730 New Jersey: $49,347 Rhode Island: $41,169 New locations in Rhode Island Tuesday, November 18, 14

45. PROMOTION Partner with Brideclick - largest digital wedding advertising network Ads placed in Bridal magazines, especially in Fall Issues Adjust SEO for mobile app so that it appears in search results for “wedding apps” Tuesday, November 18, 14

46. CONCLUSION EXPAND Baked By Melissa should also market to brides because they’re willing to spend more for presentation and value PLANNED Baked By Melissa should post social content tailored to the wedding lifestyle: blogs, planning apps, and theme ideas BRAND Baked By Melissa is a well known brand with a solid customer base and convenient locations in NYC & NJ Tuesday, November 18, 14

47. THANK YOU! Tuesday, November 18, 14

48. WORKS CITED 1. "Do the Bride a Favor Looks at the Trend of Cupcakes for Weddings." PRWeb. N.p., n.d. Web. 29 Mar. 2014. 2. Jaeger, Chris. "Wedding Industry Statistics from The Knot." Wedding Industry Statistics RSS. N.p., n.d. Web. 29 Mar. 2014. 3. Julia Gallo-Torres. "College And University Food Service." Mintel, Feb. 2013. Web. 4. "TheKnot.com and WeddingChannel.com Announce New 2011 Wedding Statistics -- Including Average Wedding Budget and Top Wedding Trends." XOGroupInc.com. N.p., 21 Mar. 2013. Web. 29 Mar. 2014. 5. "Wedding Cake vs Cup Cakes: The Great Cake Debate." Massachusetts Wedding Cupcakes. N.p., n.d. Web. 29 Mar. 2014. 6. "Weddings: Factors Driving the Market." Mintel, May 2013. Web. 7. "Weddings: Most Important Wedding Elements." Mintel, May 2013. Web Tuesday, November 18, 14

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Baked By Melissa Marketing Case Study