Willdy's Waffles Target Market Essay

Target Market Segment Strategy
The dominant target market for Willdy’s Waffles is a regular stream of students, teachers, and visitors. The following marketing strategies are recommended in order to meet the targeted increase of sales of Willdy’s Waffles particularly on their product Mallow-Oreo Waffles:
1. Personal and expedient customer service at competitive price is key to maintaining the local market share of this target market.
2. Trendy brochures highlighting the bestseller (Mallow-Oreo Waffles) will be handed out to the target market for easier and faster information dissemination.
3. Radio advertisement and television advertisement will also be implemented.
4. Coupons can also be used to get people to try their product. By offering great coupons and deals on Angel’s Bread and Pastries Shop particularly the Mallow-Oreo Waffles, this can help persuade people that the purchase is worth it.
5.

Creating a facebook account is also a cheaper and faster way to reach out to its target market, since teenagers and young adults often visit these sites to get an update of the latest “must try”.
Market Needs
Since majority of the target market are students, teachers, and visitors, Willdy’s Waffles will be serving them from 9:20 in the morning until 5:00 in the afternoon from Monday-friday to accommodate those who have classes and work.
Table 1: Rate of students from Dagupan City National High School in buying our product (Willdy’s Waffles)
Response Respondents Percentage
1 24 12%
2 1 0.5%
3 8 4%
4 7 3.5%
5 27 13.5%
6 15 7.5%
7 30 15%
8 31 15.5%
9 20 10%
10 37 18.5%
Total 200 100%

Table 2: Price the students chose in buying our product (Wilddy’s Waffles)
Response Respondents Percentage
15 111 55.5%
20 41 20.5%
25 25 12.5%
More 23 11.5%
Total 200 100%

As shown in Table 1, which is entitled “Rate of students from Dagupan City National High School in buying our products (waffles),” there is a scale from 1-10, 1 being the lowest and 10 the highest, 37 out of 200 people chose 10. This have the highest rank in the table and have an equivalent of 18.5% that means they would buy our product at a price of Php 15.00 as shown in Table 2 that have a title of,”Price the students chose in buying our product (waffles)” . While 24 out of 200 people chose 1, getting the 5th place in rank, means that they wouldn’t buy our product.
Marketing Plan
The first 2 weeks, the proponents will plan and prepare for selling the waffles. This includes grocery shopping, taste testing of different flavors, and budgeting. Grocery shopping will be done in nearby malls and grocery stores, baking will be done in one of the proponents’ home, and taste testing, in school, by our Entrepreneurship instructor. Budgeting will be done either in school or in a proponent’s home.
The next few weeks, the proponents will sell their products for the first time. When they have good selling results and feedback from the customers, they wouldn’t need to change the recipe, however if they do receive negative feedback from the customers, another recipe is to be formulated, and after, another taste test is to be conducted. Selling will first be done inside DCNHS campus, after good selling results, the proponents will move out of the school grounds and to other schools.
After materializing new and improved waffles, the proponents will once again sell the waffles and repeat until they get the best feedback in consistency.

Marketing Matrix
Activity Target Date of Implementation Cost Strategy Expected Outcome
Preparation August 19, 2017 Php 400.00 The first 2 weeks, we will plan and prepare for selling the waffles.

This includes grocery shopping, taste testing of different flavors, and budgeting. Grocery shopping will be done in nearby malls and grocery stores, baking will be done in one of the proponents’ home, and taste testing, in school, by our Entrepreneurship instructor. We are expecting that our product will be appreciated on the taste test day.
Product Survey August 25, 2017 Php 15.00 We will formulate a survey form for the students to rate our product, and the pricing that they want We are expecting to know the results from the survey form and the feedback from the students.
Social Media Advertisement August 21, 2017 Php 0.00 We will use different social media outlet to promote and advertise our product. We will also take orders to be delivered on the opening of our market. We are expecting that people will somehow recognized our market and our product.
Opening August 31, 2017 Php 1550.00 We will sell our product for the first time. Many students will buy our

product.
Promotion September 7, 2017 Php 0.00 We will promote our product through “Hugot Promo”. For every 5 purchase of any Willdy’s Waffles waffles, they’ll be given a ticket to win a chance of getting a free Willdy’s Waffles products of their choice at the end of each month. We are expecting to promote and raise awareness about our product and brand name.
Post-survey September 8, 2017 Php 30.00 We will have another survey for us to know the feedbacks of the consumers and to know what is our best-selling product. We are expecting comments, suggestions, and ratings for our product.