Assessment 9 - Business Feasibility Study
Assessment 9 - Business Feasibility Study
Assessment 9 - Business Feasibility Study
Business Management
BMN121A
9059471670C
Angela Duarte
Mr Hohenhaus
Table of Contents
1.0 Business Overview: .............................................................................................................. 2
2.0 Target Market: ..................................................................................................................... 2
2.1 Primary Data:.................................................................................................................... 3
Figure 2 Dessert Shops in Southbank ................................................................................. 3
2.2 Secondary Data: ............................................................................................................... 3
Figure 3 Community Profile 2011 ..................... (Australian Bureau of Statistics , 2013)
4
3.0 Marketing Strategies:........................................................................................................... 5
Table 1 4P's of Piritz Food................................................................................................... 5
3.1 Diversity Marketing: ......................................................................................................... 6
3.2 Freebie Marketing: ........................................................................................................... 6
3.3 Word of Mouth Marketing: .............................................................................................. 6
4.0 Competitor Analysis: ............................................................................................................ 7
Table 2 Piritz Foodz Competitor Analysis ........................................................................... 7
4.1 PESTLE Analysis: ............................................................................................................... 8
Table 3 Piritz Foodz PESTLE Analysis .................................. (Nathaiel Smithson , 2015)
8
4.2 Industry Trends, Patterns and Relationships amongst Consumers: ................................ 8
5.0 SWOT Analysis: .................................................................................................................... 9
Table 4 Piritz Foodz SWOT Analysis ...................................... (Jessica Lombardo , 2015)
9
6.0 Marketing Challenges: ....................................................................................................... 10
Diversity Marketing .............................................................................................................. 10
Freebie Marketing ................................................................................................................ 10
Word of mouth Marketing ................................................................................................... 10
Table 5 Marketing Strategies Implementation................................................................. 10
Solutions: .............................................................................................................................. 11
Diversity Marketing .......................................................................................................... 11
Freebie Marketing ............................................................................................................ 11
Word of mouth Marketing ............................................................................................... 11
7.0 Evaluation: ......................................................................................................................... 11
8.0 Recommendations: ............................................................................................................ 12
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Piritz Foodz
Piritz Foodz mission statement is to serve the best quality dessert and to provide the best customer service.
We will maintain a friendly, creative and quirky work environment which respects the aspects of diversity, new
ideas and hard work that is put in.
Piritz Foods will sell the best quality yet unique and quirky dessert with a Filipino flavour for the people who
live nearby. Not only, will they sell desserts, they also provided some of the Philippine drinks such as buko
juice, sago’t gulaman, tang juices and many more. In that case, this will bring out the competitive edge within
their competitors like Max Brenners, Cowch Desserts and the Beach House that is located in South Bank.
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Piritz Foodz
Also, the picture shown below is the types of dessert shops in Southbank Brisbane including; Max Brenners,
Cowch Dessert Bar, Gelare, Chocolateria San Churro and many more.
Founded on the primary data, there are few Filipino communities in Southbank Brisbane from lunch to
afternoon tea, this shows that most Filipinos visits Southbank regularly. Moreover, there are more females
than males during both times, correspondingly the Filipino communities is more into working – middle social
class status.
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Piritz Foodz
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Piritz Foodz
An example of effective marketing strategy is when the Chocolateria San Churro at Southbank promote their
business along with their products through social media such as Facebook, Instagram and through gaming
apps so that it can attract their specific target audience.
Piritz Foodz marketing strategies is shown on table below and these is what they will be using to attract their
target audience and also to expand their customer base. Piritz Foodz product that will be selling will be based
on the tradition streets foods cuisine, meanwhile their pricing strategy will be penetration pricing as per base
on the primary data. Piritz Foodz will be distribute in the Southbank where there will be many Asian and
Western culture. They will promote by having a loyalty cards, free giveaways and advertise through social
media.
Product: Pricing:
Ice Scramble Penetration pricing based on the primary data.
Halo – Halo Firs week – free taste and samples
Leche Flan First two months; small bowl $2.50, medium
Buko Pandan bowl $3.00 and large bowl $4.00.
Fruit Salad If pricing strategy does not turn out well, lower the price
Graham down for each bowl or make one size bowl with the
Sago’t Gulaman appropriate price
Buko Juice
Tang Juices If pricing strategy turns out well, do not change the price
and also add more toppings for the desserts so that it will
have a wider range for the customers to choose from.
Promotional: Place:
Loyalty cards Southbank
Free bags every 5th purchase Event such as; Noodle Market, Wednesday
Advertise through social media such as Market and also Street Market.
Facebook, Twitter, Instagram and Menulog.
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Piritz Foodz
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Piritz Foodz
An example of competitor analysis is between Max Brenners and Cowch Dessert Bar that is based in
Southbank Brisbane. Max Brenners and Cowch Dessert Bar sells a fulfilling chocolate desserts which allows
their target audience to have a craving satisfaction. However, there are more Max Brenners distribution
around the Brisbane area which allows the company to gain profits and customers. It can also help them to
expand their business locally. On the other hand, Cowch Dessert Bar only have a one distribution in Brisbane
which can only the target audience to be more accessible as it is in the city area.
Piritz Foodz competitors are Max Brenners and Cowch Desert Bar as shown on table 1 below. Piritz Foodz
however can be competitive as they sell unique Philippine cuisine dessert which allows most Filipino
communities find familiar and would not be homesick after all, and, those whom is new to the Philippine
cuisine dessert find tempting and a craving satisfaction. Piritz Foodz competitor analysis evaluation can
establish their product and services unique which attributes to play up in order to attract their target market.
No. Of shops in 5 1
Queensland
Location Southbank, Hamilton, Portside Wharf, Bulimba, Southbank
Newstead
Menu Fulfilling chocolate desserts, pastries, coffee, Pastries, dessert pizza, churros, cakes, hot
drinks, chilled drinks and desserts and
alcoholic products.
Prices (Avg cost) $15 $15
Advertising Social Media, Newspaper, Billboards, Brochures Social Media, Flyers, Brochures
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Piritz Foodz
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Piritz Foodz
Strengths Weaknesses
Extensive global supply chain Imitable products
Diversified business through subsidiaries Most products are generalised standards
Opportunities Threats
Product mix are diversified Competition from middle dessert shops
Partnerships with other firms Imitation
Table 4 Piritz Foodz SWOT Analysis (Jessica Lombardo , 2015)
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Piritz Foodz
They must lead with in-depth multicultural The product that will be in the free mouth is often slow to spread.
insights, but have a general consistent samples for a week might run out within Limited audience
message that resonates across all markets the three day period Generally limited in the number of
and publics. Customers doubting if they potential clients you can market to in a
Multiracial families should purchase or not given period when using word of mouth
Research needs to occur to make The customers who had recently had their advertising.
communication decisions based on free samples might not want to purchase Tracking issue
individual multiracial families. the product. It is almost impossible to thoroughly track
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Piritz Foodz
Solutions:
Diversity Marketing Freebie Marketing Word of mouth Marketing
Communicate with all Create more of the Advertise through flyers,
target audience through products a day before brochures, newspapers and
social media such as Advertise with a charming billboards
Facebook, Instagram and personality Create an event so that it
Emails. Make a unique and creative can expand customer base
For multiracial families, get samples Promotional through social
an interpreter so that they One week period of free media
can understand what is samples. Create more loyalty
your business about through consumers.
Contact with the
government to identify any
permanent residency
Create an app with
language features
Free medical treatment for
employees and volunteers
in case of an emergency.
7.0 Evaluation:
This feasibility business idea option is viable because marketing strategies show that the Piritz Foodz marketing
strategies that includes the 4P’s (Product, Price, Place and Promotion), Diversity, Freebie and Word of mouth
marketing is a great idea in the business as this can lead to expansion of the small dessert shop and attract
more target audience. Additionally, Piritz Foodz that has been identified through target market based on the
primary data and the secondary data, it is suitable that the business can attract the millennials that is in the
working to middle social class status. Finally, there are a number of patterns and relationships that support the
business idea as identified in the PESTLE analysis. Australia has a stable economy due to its economic stability.
In turn, this can lead to consumer confidence. Given the growth of the Filipina community in Brisbane it is
likely that the target market will continue to grow into the future. This bodes well for Piritz Foodz as they will
continue to utilize marketing strategies that target this particular group. The use of diversity marketing
presents Filipinos with an opportunity to be able to experience familiarity in their new homeland. Word-of-
mouth marketing, assuming that the product satisfies in terms of price and placement, is strong in the Filipino
community where many recommendations are made at community gatherings. For these reasons the success
of this business idea is likely, and therefore feasible.
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Piritz Foodz
8.0 Recommendations:
The research presented in this report indicates that Piritz Foodz should enter the market. Primary data
indicates that there is a growing Filipino community to support such an enterprise, and word-of-mouth
marketing can only lead to an increase in its popularity. Many millennials and young Filipino families are in the
professions, and enjoy social dining and gatherings. Another possible option for a business to attract their
target audience and to promote their product is to create a Facebook page and an app which can produce
income, expansion of customer base and also to attract more whom is millennials and in the working to middle
social class status.
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Piritz Foodz
References
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http://www.censusdata.abs.gov.au/census_services/getproduct/census/2011/communitypr
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Beth Jackson . (2014, December 8). Manobyte . Retrieved from The Importance of Knowing Your
Target Market: http://www.manobyte.com/importance-knowing-target-market
Boardroom Intelligence . (2014, June ). Financer WORLDWIDE. Retrieved from The Importance of an
effective marketing strategy : http://www.financierworldwide.com/the-importance-of-an-
effective-marketing-strategy/
Erika Fern . (2016, April 24). Shifting Paradigms . Retrieved from The Pros and Cons of Using
Secondary Data: http://rampages.us/efcarpenter/2016/04/24/the-pros-and-cons-of-using-
secondary-data/
Jessica Lombardo . (2015, September 12 ). Panmore Institue . Retrieved from Starbucks Coffee SWOT
Analysis : http://panmore.com/starbucks-coffee-swot-analysis
Jude D'Mello. (2016, August 2 ). Quora . Retrieved from What are the cons of secondary research?:
https://www.quora.com/What-are-the-cons-of-secondary-research
Lisa Mooney. (n.d.). chron . Retrieved from The Disadvantages of Word of Mouth Advertising:
http://smallbusiness.chron.com/disadvantages-word-mouth-advertising-26133.html
Nathaiel Smithson . (2015, September 12 ). Panmore Institute . Retrieved from Starbucks Coffee
PESTEL/PESTLE Analysis & Recommendations : http://panmore.com/starbucks-coffee-
pestel-pestle-analysis-recommendations
nkaazie. (2014, November 27). enotes. Retrieved from What is primary data and secondary data in
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Philip Kolter. (2014, July 23 ). Search Triggers . Retrieved from Marketing Strategy Definition By
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Rochelle L.Ford. (2008). PRSA. Retrieved from Diversity Dimensions: Top issues for multicultural
marketing: http://www.prsa.org/Intelligence/Tactics/Articles/view/6C-
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