key recipe dissertation
Top 10 Malaysia brands in Malaysia through the top will be McD, Starbuck, KFC, Oldtown, Burger King, Sushi King, Top secret Recipe, MarryBrown, A&W, and Kenny Rogers. Secret Menu is category in the seventh of the Top Ten (Top twelve of Malaysia, 2014). This my most favorite pastry store ever. That’s the reason that been picked. Secret Recipe is a popular way of living cafe cycle in Malaysia, with Halal certification awarded by Jabatan Kemajuan Islam Malaysia (JAKIM). It first outlet begun in SS2, Petaling Jaya in 1997 by Datuk Steven Sim with his four nephews (who are all bakers).
Secret Recipe is a concept casual lifestyle cafe, featuring a mouth-watering menu with 40 different varieties of cake and more than 30 locals and international dishes (Foo. K, 2012). Secret Recipe have crossed ASEAN and now landed in Asia (China, India).
And you will get shocked and I tell you Secret Recipe also available in Australia. Bravo! Today, Secret Recipe brand has successfully extended to 10 countries with more than 360 outlets, with over 4000 employees serving customers through in prime urban locations and shopping malls.
Beside Malaysia, other countries that have Secret Recipe cafe standing up with other local F&B outlets are Singapore, Indonesia, Philippines, Thailand, Brunei, Cambodia, and India (Secret Recipe, 2014). Do you know how Secret Recipe withholding their customer? Here some hints. Secret Recipe caters to everybody. Secret Recipe has a professional R&D team to improve their distinctive products. Inspired by delicacies from all over the world and improvising using their unique techniques, Secret Recipe has created many distinctive and excellent cuisines. Secret Recipe promises a value lifestyle proposition of great variety and quality food at affordable prices.
The uncompromising quality of food and desserts using quality ingredients, coupled with moderate pricing, has created a new lifestyle cult, compromising of a loyal base of food and cake lovers. Secret Recipe always seeking to create new food items every month, the company’s innovative business model has transformed it into a very profitable and popular brand at home and abroad (Secret Recipe, 2014). While sitting down in the Secret Recipe customer seat, customer always feel warm, home, happy (even alone), hassle free, tension less, etc.. Secret Recipe Cakes & Cafe environment offers customer friendly and personalized full-service dining experience via modern contemporary and vibrant interior concept with comfort ambience, andgreat food.
It provides a great respite for customers to enjoy good food and quality time with friends, family or associates, after a long day at work (Secret Recipe, 2014). 50 awards and accolades including Best Cheesecake (1998) are prizes that Secret Recipe been awarded and recognized. Some other awards that lately crowned are “The Largest Cafe Chain by Malaysia Book of Records in 2003 and more recently clinched”Silver Award for Retail-Fast Food and “Putra Most Enterprising Brand of the Year by The People’s Choice Putra Brand Awards 2013.
Every single awards stood as a limestone of a succeed business in their industry. Secret Recipe is under the industry of “Chain Linked, F&B, major in Bakery ” Cakes (Secret Recipe, 2014). So far, Secret Recipe has not met any competitor in its specialty, and I call it monopolized its industry. Even KFC have it rival, McD, but not Secret Recipe. Moreover, the company objective is “to maintain the best and highest satisfaction towards its valued customers (Secret Recipe, 2014) Since the company brand have leap from Malaysia->ASEAN->Asia & Australia, the corporation have no substitute but to maintain steadily its quality, status, crowd, normal. Not a sole flaw the fact that company can easily accepted and delivered, when ever mistake took place.
Else customer will no longer support the house due to negative reviews from global, country the company covering. And nation that however to have Top secret Recipe will not likely welcome the rand name when something happened, former mate: ” meals ingredient consisted of poisonous material. Proper administration team will need to ensure common of under must be over satisfactory level, satisfaction, output, quality control, growth. Do well of the firm bring very good remuneration to the company, with good response the company can consider subsequent franchise and so forth.
The owner is usually eyeing to go Global, and may not gratifying with areas of Asia and Quotes only. By Secret Menu, the company feels that their particular accomplishment is driven by simply philosophy of practicing quality and substantial standards, since it’s the most significant brand worth of the organization. Besides delivering quality and home equally atmosphere to consumer, the Co as well accept responses in order to deliver more with their customer. Therefore, the company determination in top quality is what differentiates them in addition to their competition. The company perspective is to extend the department until two hundred and fifty cafes towards the end 2015 (Foo. K, 2012).
1 . 1 Business Problem
Human issue is a fatal problem of all time, staff behaviors and assistance issues started to be the Company business problem. Poor services level, unfriendliness, not attentive and unable to speak fluent English. Key Recipe your brand crossing 2 contingents, Asia & Quotes famous cafe, which their outlet is usually open in capital, uptown, commercial, economical, tourism region, most buyer are mid-high income and high education group of buyer. Customer comes to this category is mostly The english language speaker; Magic formula Recipe personnel that unable to well communicate with this selection of consumer may well create a bad impact to the Co global image.
Later delivery and not attentive with the Co also made buyer feeling bother on the worker at work. And can somehow query whether the Co employee was on training after employment. During peak time, most customer just have 1 hour time for dining, once short of manpower of menu is unable through the table, time for foodstuff to be delivered will be late. During unpeak time, worker is not really in the countertop but may be somewhere with the corner possibly playing their smartphone or going in other places (chit talk may be) and still left the countertop unattended. Previously mentioned issue needs to be keep an eye to prevent any event happened.
1 . 2 External Analysis (PEST)
PEST platform, an effective promoting model is essential to put into action for analyzing the macro- environmental from the up developing company of Secret Formula. It is include political, economic, social, technological factors. Fundamental of the elements that should be familiar and consider in order to take the company to triumph with no violating any nearby issue.
1 ) Political
Malaysia is a multi-racial country that consisted most of more than 70 percent of Malay Muslim civilian. It is also a modern Islamic country. Muslim eatable food must be approved Halal by Department of Islamic Development Malaysia (JAKIM, 2011). Halal documentation tells Muslim that the meals is develop, prepared and storage in the food is usually handled under monitored of Jakim Committee. Political elements to Key Recipe cafe, never really impact much like alcohol industry. Trigger the food that provide is monitored by Islamic committee. Comprehension of the government activity towards thecountry deem significant. New bring up to date from the industry will bring confident and adverse impact to the industry and market.
The sooner the Company is aware of the news / update, the better to plan the challenge. Former mate, Government offers low interest bank loan to specific industry, and encourage organization walk out of Malaysia through free taxes of 5years. In the year 2003, 100% of the foreign equity holding is definitely allowed for almost all investments in new projects and investments regarding the process of expansion or diversification of task by the existing company (Iskandar Malaysia, 2014). The stated supportive effort of actions of the federal government enables various players inside the food-service sector to develop and grow.
installment payments on your Economic
Business trend change at least 2times within a decade because of global or perhaps local factors/ influences. This covered all of the industry however, not certain. The change usually brings obstacle to the organization, to stand out or to give up. To surpass, business owner need to adapt the newest environment, increased environment. By improved environment, we will see require of buyer to specific product. We all believe that require makes market and that influence obtaining behavior. Malaysia is considered among the most affluent nations in Asia, it had reported a GDP per-capita of about US$6, 807 in 2007. Consequently, the country has already been considered as an upper central income region, and placed by the Universe Bank because the 9th wealthiest region in the East Asia.
In 2007, our economy of the nation grew by simply 6. 3%, 5% in 2008, and expected to surge to 3. 4% to 4% this 2009 (US Authorities, 2009). In the middle year of 2001-2008, the region has very much good news, Year 2003, the total unemployment charge was just 3. 5% (International Work Organization, 2003), or showing an almost complete employment, once every individual have good income we can anticipate strong purchasing power that stimulate the market. Upon year june 2006, we are getting into the ‘Improve labor marketplace condition’. A lot of people enjoy bigger living standard, and ingesting away from home is actually a part of Malaysian lifestyle. For this reason we have enter to another revolutionary consumer foodservice market.
3. Social
Because of improvement of economy over the past year, living standard provides beenchanged considerably. Dining out of the home has been a habit / pattern to Malaysian, this eating at restaurants trend is now over percentage of western nation. Based on year 2007 research, Because of increment of eating out habit, many food services retail companies popped up. Malaysia as a multi-racial, lingual country, the natural way have multiple type of foodstuff. And the blessed Malaysian can taste variety type of meals, thank to Malaysia.
English is a worldwide common language, customer who is educated is the Company target market (of course, the Company have dialect speaking customer). Its kind of client should be more focus in; their demand should be look at / assessment accordingly. Halal is the most worried issue in Malaysia, with the symbol of Halal, market of 50. 1% Malaysian population (Index mundi, 2010), which they are Muslim is currently your buyer. This group is the key focus group because really 65% of 29milion human population, or 20million customers. I believe no one desire to miss out this selection of customer.
four. Technological
Wi-Fi availability is actually mandatory, velocity is vital. As a result of heavy make use of smartphone and mobile internet, many file required substantial data transfer. Setup of Wi fi, sometime attract customer in not the foodstuff but Wi fi. Believe or perhaps not, they are individual conduct business under the Wi-Fi environment. We also see customer appear in and enjoy game in the cafe. These days utilization of mobile internet growth till I never believe, almost 90% aged below 30, is eyeing on their mobile for any reason.
1 ) 3 Internal Analysis (SWOT)
Strength
1 . Company
Logo, corporate color, marketing strategies, outfits, and menu layout happen to be element of manufacturer power. Being a going globalized concept cafe, Interior design has to be unique to become outstanding. Even more exposure and awareness activity can attract more focus from community. It ease new consumer understand and accept the corporation product. The customer will introduce new customer to the cafe.
2 . Product
Key recipe wall plug is more concentrate on high catchment area, product qualitymust be proven refreshing daily. The cafe will rather strengthen unfresh top quality of pastry rather than mess up their own identity on dessert they are providing. A mistake in core organization will bring uncountable disaster towards the company.
several. Marketing
Marketing and advertising through internet, brochures, brochures, flyers, magazines and television advertisement happen to be regular activity. Latest technique is campaign on special like, mom day, valentines day, and thanksgiving. Groupon also is a good channel to get promotion.
four. Franchised System
They are enabled to access the date make up the headquarters applying Franchise. All the tailored detailed systems, purchasing systems, keeping, products, assistance s requirements, marketing and numerous others have helped bring ease of operations for Secret Recipe and minimize the drawbacks.
your five. Customers
Simplest way to have went back customer is to membership reward. Uncountable refund will make an impression not only the client but buyer friend. The business appreciate loyal customer, actually give bigger privilege to new customer. The company believe that customer present customer. The organization will not try to lose any kind of customer if possible, and they have got ready responses form to become our client.
Weakness
1 . Price
As a going globalized principle outlet, we need to maintain our price around the high web page, due to so many customer with no complaint we all will conserve the price, without going also higher when possible. Each of our target market is still eyeing upon mid-high profits range consumer.
2 . Staff
They staff age group listed below 25 years outdated is >75%, employee come and go can be regular. They will understand to educate and development an employee are certainly not easy, they are going to try to do our far better get the correct person. Most employee >25y. u is more consistence compare to previous group. And employed staff is mostlyform outstation or east Malaysia. Most of them are graduated coming from secondary.
three or more. Language Barrier
The Company genuinely have problem in search of employee that speak fluently English, cause this band of person require very high income. What they may do intended for current is always to have more
2 . 1 Marketing Objective
Attract new customers and keep loyal consumers
Enhance 10 percent market share in Malaysia within the next 12 months (From initial Jan 2015 to thirtieth Dec 2015).
Refurnish outlet once in annually
Schooling the new staff and environment Employee Identification Programme
installment payments on your 2 Management Objective
Provide professional working out for all personnel to train all of them as a professional standard waiter. Constantly send out people to every outlet and check for the standard of all facility. Carry on an everyday basis customer satisfaction to investigate to the customer and producing action plan on improvement. Placing Employee Recognition Programme to recognize and prize work and behaviors.
2 . 3 Reason
As a going global understand company, we should have extremely cleared the Co aim else we all cannot actually step out through the standing earth or all of us failed in the event implemented wrong strategy. An inability of the plan, will take organization some years to recover. Not just a mistake which the entrepreneur may effort. Accomplished and intelligent management group is responsible to handle the existing company affair; marketing group play a important role to tell the public that Secret Formula is the only cafe that satisfied your daily needs. All the business activity is usually to gather even more customers and even increase familiarity to the public, make the cafe branding trustworthy and reliable. If possible try to have some social responsibility activity, such as charity running plan, marathon, senior citizen and OKU price to get the category.
installment payments on your 4 Marketing Strategy
Product
Secret Menu is well known in Malaysia due to the fine quality cakes, fusion meals and unique service. They can be serving a wide selection of more than forty types of gourmet top quality cake and other baked desserts. Other than that all of us also offer savory foods just like local delicacies and blend food. They also offer seasonal truffles using seasonal ingredient in Malaysia these kinds of asDurian Cake, Durian Cheesecake and Hazel Cheesecake. Overall health Cake was introduced to the marketplace as the industry trend change to healthy life style. Sugar totally free and trans-free cake including Sugar Free of charge Moist Candy Cake and Hi-fiber Cream Cheese was put on space and gets good assessment from the buyers. Secret Formula do have the service of baking cake in shape of numerous character of Disney toon based on the preference of customer’s range of flavor. In addition , they also offer vegan-friendly menus intended for vegetarians.
Placement
The company target is “to maintain the finest and greatest satisfaction toward its respected customers. It means the company wishes provide top quality food and best providers to their buyers. At the same time, they can be hoping to appeal to more new customers.
Price
Key Recipe cost position is definitely serving in upper-middle customers. The high-middle income client willing to pay more for more healthy, tasty foodstuff served in a clean, comfy and pleasant environment. Secret Recipe features limited-time benefit set to entice lower income buyers to their cafe for dining.
Promotion
Besides marketing via web or perhaps media, promotion is an alternate channel to enhance up sales, the Co need more client to spend. Groupon is a stunning website to do promotion. All user from the web may view how many people have used on the advertising campaign. The more activity/ campaign that is constant, public will truly acknowledge the brand electricity and will also wish to participate on next upcoming event. Exposure to the public can be significant, to increase brand electric power. If the company have minister plenipotentiary it will be best.
2 . five Management Goal
Product
Keep good food quality all the time and provide more new food range to consumer.
People
Work with more expertise to fix the uncertainty encounter by client according to the opinions provided. Schooling is a very important factor in terms of total management. It is because of the fact that the information, skills and ability from the staffs reflect the organizational image of an organization. Every worker of Key Recipe is provided with training. Employ Employee Recognition Programme to evaluate the employee performance and incentive work.
Gear and facility
Replace the old pieces of furniture to let client dine in comfortably.
installment payments on your 6 Marketplace
The target market of secret recipe is definitely the individuals and young households. They also focus on the method and prestige society since they have good financial backgrounds and find the money for to buy the foodstuff in key recipe which is bit high-priced if out-do the others outside food. Besides that, target audience for top secret recipe is usually on parmesan cheese cake enthusiasts because it is well known with its parmesan cheese cake.
Geographic
Secret Recipe is concentrate on city residents of Malaysia
Demographic
The ages range about 20 to 50 and live in the urban area. This group includes college students, young families, and central to prestige income individuals or family members.
Tendencies
The people who are enjoy a high quality meal and love sampling different kind of food. The individuals who are health matter in regard of food and dairy products cake fans.
3. zero Marketing Communications Program
Source: Gathered from http://www.brandequity.com.my/web/
Magic formula Recipe gets the strength in terms of cost and also the marketing programs. It will employ various methods of advertising and marketing
through net, radio, mag, newspapers and television advertisements.
Advertising
In accordance to Kotler, P & Keller, L. K (2006), advertising is usually an activity that initiated and paid by simply sponsors, through non-staff display and stimulates their concepts, goods or services. Marketing as a fiscal and effective information indication, it is able to build brand desire. Television promoting is generally considered to achieve one of the most extensive consumer and it is one of the most powerful promoting media. In the perspective of brand build, TELEVISION advertising provides two particular advantages. Is an effective way to exhibit the product characteristics that can sure illustrate the benefits of the product to consumers. Another is TV SET advertising is definitely the way to depict manufacturer characteristics. Print media provides very in depth product info and end user can successfully describe the image and use.
The main advantage of the airwaves is flexibility. The number of stereo is very huge and it is advertising and marketing relatively cheap. Furthermore, car radio advertising could possibly get fast response. In Malaysia, most specific and households have a car, especially in the middle and upper class group, and most people generally listen to the radio when they are driving. So , the airwaves advertising can be easily drawn to this kind of audience. Internet advertising in comparison with traditional media is more highly effective because of that spread quickly and includes wide range. The group of internet advertising is generally teenagers. They are many vibrant, top level of education and purchasing power of most powerful group. Internet adverting can assist company to directly struck the most target audience.
3. 1 Action Plan
Restoration, beautifying and inspection of the cafe environment from time to time is significant. Month-to-month inspection in the cafe intended for the 1st 3months following cafe starting and quarterly inspection in all the tool, environment, electric power and normal water are mandatory. Position of in house developer department is very important, it help to monitor and improve ambiance of the cafe. Technician and maintenance crew department perform assist designerdepartment to implement what they desired. Event/ marketing department, play a main part in the company, planning of marketing activity for the marketing per one fourth is important.
Creating hype towards the Co, pull attention to general public, increasing awareness of the brand, gain the contemporary society are responsibility of the marketer. More advertising event will certainly draw even more attention to the Co. A very good example, if a F1 crew won the race or going to earn the competition, the brand of the automobile company will have even more sale upon coming year. Believe it or not, it’s the marketing, advertising, public relation colliding impacts. A globalized concept cafe should for least have some standard rapport to maintain. Naturally beside external such as previously listed, internal normal such as food quality, staff friendliness, hygience, satisfaction from the cafe are utmost significant. It’s the core business to the cafe.
several. 2 Contingency Plan
You will discover total 2 elements beneath the term. Insurance and suppliers Fire insurance and worker insurance ought not to be forgotten. Flames insurance shield loses with the rented building to prevent extra lost, staff insurance tell your employee the Co care of their support (of course only staff, who function after certain period of time) As we all know, marketplace is a fun and tricky place, supplier may play around with fluctuation/season cost. As we know the 2 hands proper, we will have at least 5suppliers in the same time for the best price. All of us won’t be deceive by absurd company. Finally, we also require a part time advisor to the company, where we could seek helper whenever we discovered that out of our understanding. Their tips make us stand harder and for a longer time.
4. 0 References
Kotler, G & Keller, L. T (2006), Advertising Management, 12th edition, Prentice Hall
Foo. K (2012), Secret Formula for success [Online], Sold at http://www.thestar.com.my/Story/?file=%2F2012%2F10%2F27%2Fnorth%2F12234754&sec=north
Index mundi (2010), Malaysia Demographics Profile 2014 [Online], Available at http://www.indexmundi.com/malaysia/demographics_profile.html
International Labour Organization (2003), 2003 Work Overview [Online], Offered by http://www.ilo.org/wcmsp5/groups/public/”americas/”ro-lima/documents/publication/wcms_187481.pdf
Iskandar (2014) How come Malaysia?: Benefits of Malaysia [Online], Offered by http://www.iskandarmalaysia.com.my/why-malaysia-advantages-of-malaysia
JAKIM (2011), Authorities Website [Online], Offered by http://www.islam.gov.my/en
Key Recipe (2014), Official Web page [Online], Available at http://www.secretrecipe.com.my/
Top 10 of Malaysia (2014), Top 10’s Crème de la Crème Meals Brands in Malaysia [Online], Sold at http://top10malaysia.com/home/index.php/news-and-events/top-10-food-brands-in-malaysia
US Government (2009), Malaysia HRI Food Assistance Sector Meals Service Malaysia 2009 [Online], Sold at http://apps.fas.usda.gov/gainfiles/200901/146326991.pdf
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