Essay About Historical Data Of The Market Size And Customers Needs

Industry Analysis
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Industry AnalysisRecently a search found that Malaysians spent more on eating out in 2011 after the recovery of economic crisis in 2008-2009. There are more consumers who are willing to spend more on expensive food, either in franchise outlets, cafés or street stalls. SizeFoodservice industry in Malaysia is growing as each year passed by. As we look through the historical data of the market size, we are able to see that consumer’s foodservice demand influenced the market to grow positively starting from year 2006 (Graph 1.0). The market size grows form RM in year 2006 to in year 2011. Base on the actual grow, we can forecast future grow of the market to increase further (Graph 1.1)  As the market grows, it give us a better opportunity to enter the market as a start-up.Demand in the taget marketMarket AnalysisTarget Market IdentifiedThe dominant target market for RAINBOW is targeted at young ladies between the ages of 14-35 with a creative slant towards baking and craft. Customers Needs and WantsAs we are opening our shop at Damasara where there are no other cake houses which will provide the cake decoration services, thus customer is able to enjoy the cake decorating services in. At the same time, customers also get to enjoy dessert at our shop while decorate their cake. In addition, classes and workshop are also provided by us to our customer where they get to learn how to decorate and have their own cake design.  StrengthsOur competitors are more focused on selling the cake rather than providing the cake decorating services. Whereas, RAINBOW main focus are on providing customers with the decorating services. In addition, our cakes are sold at affordable price compared to our competitors who sell their products a higher price which discourage certain customers to purchase them. Moreover, our customers get to purchase cake with the design they desire and also can attend class according to the