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To be successful, Ono Kine Bakeries will have to pursue specific goals and objectives. Since next year will be the defining year for the Bakery, the following are the objectives that the company will pursue:

a. To earn at least 20 percent profits on all our sales

b. Be the best producer of bread and cakes

c. Offer the most competitive salaries to employees

d. Be among the most popular producers and distributors of bread

e. Pay 50% of the company’s debt

f. Hire professional chefs

g. Reduce the operation cost

h. To capture at least 10 percent of the bakery market share

Compatibility of the goals with mission

The goals and objectives are aligned with the mission statement of the company. First, establishing a functional storefront ensures that the company is able to offer its products to its customers in a timely manner. In essence, the establishment of a functional storefront is critical for the delivery of products to customers. By delivering the products to customer, the company will be able to maintain the satisfaction of its customers while at the same time establishing a loyalty (Mondal, n.d.). Secondly, creating a strong presence in the community is critical for increasing sales. This is because the local community will form part of the customers for the products. Developing a full menu is critical for improving the quality of products as the full menu will ensure that quality products are constantly deliver to customers. Earning profits and capturing a substantial amount of market share is also critical for increasing the amount of sales.

Marketing objectives to meet the goals

Marketing objectives are targets that a business sets when it is promoting its products or services to target customers. These targets need to be achievable within a given set of time. Marketing objectives are critical for an organization that wants to create awareness about itself, its products and services. Being a new company, Ono Kine Bakeries would like not only to create awareness about itself, but also about its products and services.

To achieve the marketing, the marketing objectives will be according to the 4Ps marketing mix. The following are the marketing objectives that will help the company meet its goals and objectives:

a. Establish a functional storefront for Ono Kine Bakeries.

b.  create a strong presence that is needed to support the sales goals in the community

c. To develop a full menu by the first three months

d. To establish a base of loyal customers

e. Invest on media advertisement and campaign

f. Leverage on social media advertisement

Target customers: customer profiles

The target market is the middle and higher income local residence and tourist in south Virginia. Local residents of south Virginia and tourist are the target customers. More specifically, small and large households within south Virginia are the target customers.

The demographics of South Virginia is similar to those of Virginia in general. When analyzed by race, the whites are the majority as it constitute about 70% of the total population. The African Americans are the second largest group as it constitute about 19% of the total population. Other groups that are found in south Virginia include Koreans, Asians, Chinese and Natives. The bakery will focus on producing products that are popular among all the races present in South Virginia.

The population of south Virginia can be described as young since it constitute mainly of youth. In essence, individuals aged between 20 to 44 years comprise 38% of the total population. Individuals aged below 20 years comprise about 27% of the total population while individuals above 44 years constitute about 35%. The mean age of population of South Virginia is 35.7. The bakery will focus on producing products that are appeal to all groups.

South Virginia are generally middle-income society. According to the statistics from United States Census Bureau (USCB), the median household income in 2017 was $68,766 per year. The poverty level is 10.6%, which is considerably low. To gather for the needs of the residents of South Virginia, the products will take into consideration the general income of the population.

South Virginia consist of both religious and non-religious individuals. Generally, about half of the population consists of religious individuals while the other half consists of non-religious individual. When it comes to religion, south Virginia is a multi-religious area. Some of the common religious group in the south Virginia include the Baptist, Episcopalian, catholic, Lutherans, Methodists, Presbyterians, Pentecostals, LDS, Jewish and Islam. The products offered will attempt to meet the religious specification of the residents.

Bread and cakes have a ready market in south Virginia. This is due to the practice of taking bread and cakes for breakfast in most households in south Virginia. Ono Kine Bakeries will try to take advantage of this practice by ensuring that bread and cakes are made ready available to the customers. The distribution channels for the company will ensure that the products are offered in areas that are easily accessible to the households.

Tactical Marketing strategies

A number of tactical strategies that be used to implement the marketing plan. The first tactical marketing strategy that I will use is social media marketing. In the recent years, the number of social media platforms have increased drastically. According to Paul S. Richardson, Peggy Choong and Mark Parker (2016), no media has grown faster than social media. Accompanying this increase in the number of social media website is the increase in the number of users. According to currently, more than 25% of the world’s population use social media in one way or the other (Richardson, Choong & Parker, 2016). Some of the most common social media platforms that are currently available include Facebook, Twitter, Instagram, LinkedIn, Snapchat, Pinterest, YouTube and WhatsApp. For businesses and marketers, the continued popularity of social media brings a number of opportunities. In essence, social media provides businesses with an opportunity to engage its customers or potential customers. Marketers use the opportunity provided by social media to market their products to potential marketers. Ono Kine Bakeries will try to leverage on social media to market its products to the customers.

The second tactical marketing strategy that the company will use is event marketing. According to Emma H Wood and Guy Smart (2008), an event is any occurrence that has an audience. With the presence of an audience, a message or experience can be generated, transmitted or shared. Event marketing are events that are exclusively created for making purposes. As its tactical marketing strategy, Ono Kine Bakeries will actively be involved in organizing special events such as concerts, sporting events and trade fairs. During such events, the company will be able to make contact with its customers and promote its products. One advantage of event marketing is that the company will be able to build its relations with its customers. Moreover, the event will enable the company shape the beliefs of its customers about a product.

Another tactical marketing strategy that the company will use to implement the marketing plan is the relationship marketing. According to Deborah O. Aka, Oladele J. Kehinde and Olaleke O. Ogunnaike (2016), relationship marketing focuses on relationship with customers. In essence, relationship marketing involves creating a strong relationship with customers. To capture new markets and become competitive in the bakery industry, Ono Kine Bakeries will focus on building relationships with residents of South Virginia.

Transactional marketing strategy will be used during the early stages of production and distribution. Unlike relationship marketing, transactional marketing do not focus on building strong relationship with customers. Instead, transactional marketing focuses on promoting sales and attracting more and more new customers (Šonková & Grabowska, 2015). For Ono Kine Bakeries, attracting more and more customers, establishing itself as a key player in the bakery industry is the first priority. Through transactional marketing strategy, the company will be able to achieve this objective.

Promotional marketing strategy will also be used to implement the marketing plan. Promotional marketing strategy aims at increasing awareness, creating interest, generating sales and creating brand loyalty. Through promotional activities, customers are able to take action about a product, which may lead to increased sales for the company. Promotional marketing strategy incorporates a number of incentives to be successful. Some of the incentives that the company can use to promote sales include the use of contest, coupons and provision of samples. Ono Kine Bakeries will create be provide coupons and samples to promote its products in South Virginia.

Alliance marketing will also be used to implement the marketing plan. Alliance marketing involves forming partners with other businesses. In such partnership, all the parties are able to benefit. One of the advantages of forming alliance is that it enables the parties involved to pool resources together (Marketing-Schools.org, n.d.). In south Virginia, there are a number of potential firms that Ono Kine Bakeries can enter into a marketing alliance with. For instance, it can enter into an alliance with coffee outlets in South Virginia. Through such alliance, the company is able to sale its bakery products with those of coffee.

References

Aka, D. O., Kehinde, O. J., & Ogunnaike, O. O. (2016). Relationship Marketing and Customer Satisfaction: A Conceptual Perspective. Binus Business Review, 7(2), 185. doi:10.21512/bbr.v7i2.1502

Marketing-Schools.org. (n.d.). Alliance Marketing | What is Alliance Marketing?. Retrieved from http://www.marketing-schools.org/types-of-marketing/alliance-marketing.html

Wood, E. H., & Master, G. (2008). Event Marketing: Measuring an experience. In 7th International Marketing Trends Congress, Venice. Retrieved from https://www.researchgate.net/publication/228630895_Event_Marketing_Measuring_an_experience

Šonková, T., & Grabowska, M. (2015). Customer engagement: transactional vs. relationship marketing. Journal of International Studies, 8(1), 196-207. doi:10.14254/2071-8330.2015/8-1/17

United States Census Bureau. (n.d.). U.S. Census Bureau QuickFacts: Virginia. Retrieved from https://www.census.gov/quickfacts/va