Marketing plan Essay Example | Topics and Well Written Essays - 2500 words - 6

Marketing plan - Essay Example However, the company was acquired by Asher Budwig in the year 2011, but the brand name of Lola’s cupcakes continued to exist and the parent company decided to continue the business operations with the same vigour and focus on quality and design (Lola’s cupcakes, 2015b). The contemporary issues faced by the company are on the grounds of health issues. The cupcake and bakery industry has faced certain challenges owing to the changing consumer perception towards healthy diets. The rise in obesity rates in UK has made the customers to shift to food items with less sugar content or lower calorific value (BBC, 2014). Since, cupcakes have high quantity of sugar and can be considered to be a source of obesity so they have faced significant health issues. Moreover, from the point of view of the food consumption pattern of the customers it has been found that the customers, who prefer to eat halal, do not eat gelatinous cakes (Lola’s cupcakes, 2015a). Thus in order to target a wider range of customers Lola cupcakes need to offer a new range of products that offer non-gelatinous products. The target market of Lola cakes has been selected be all across London. The company has decided to target the customers based on their demographic and psychographic profile. The product category of bespoke designer cupcakes is targeted at the young population with the age group ranging in between 12-30 years. Based on the pricing of Lola cupcakes, the products are targeted at the middle and upper middle class of the society, which as a result allows the company to target a wide customer base (Lola’s cupcakes, 2015d). However, the narrow product offering also decreases the opportunity of the company to widen the customer base and target customers from several other demographic segments. The bespoke cupcakes are quite popular among the people with a â€Å"sweet tooth†, thus it can be stated that