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    Target Market: Total Addressable/Available Market

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    Hera Jan Rej Maglaya
    The document discusses the target market for a bakery called Baker's Touch in General Santos City, Philippines. It estimates the total addressable market to be 653,000 individuals living in the city. Baker's Touch aims to cater to at least 250 customers per day and expects increased demand for ready-to-eat foods. It anticipates a smaller market share of 0.6% for local residents and 2% for tourists in the first 3 years, growing 4% annually thereafter. The key customer groups are professionals, celebrators, and students, and growth rates for these groups in the first 3 years are estimated to be 10%, 5%, and 20% respectively.

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    Target Market: Total Addressable/Available Market

    Uploaded by

    Hera Jan Rej Maglaya
    28 views3 pages
    The document discusses the target market for a bakery called Baker's Touch in General Santos City, Philippines. It estimates the total addressable market to be 653,000 individuals living in the city. Baker's Touch aims to cater to at least 250 customers per day and expects increased demand for ready-to-eat foods. It anticipates a smaller market share of 0.6% for local residents and 2% for tourists in the first 3 years, growing 4% annually thereafter. The key customer groups are professionals, celebrators, and students, and growth rates for these groups in the first 3 years are estimated to be 10%, 5%, and 20% respectively.

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    Target_market.docx

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    The document discusses the target market for a bakery called Baker's Touch in General Santos City, Philippines. It estimates the total addressable market to be 653,000 individuals living in the city. Baker's Touch aims to cater to at least 250 customers per day and expects increased demand for ready-to-eat foods. It anticipates a smaller market share of 0.6% for local residents and 2% for tourists in the first 3 years, growing 4% annually thereafter. The key customer groups are professionals, celebrators, and students, and growth rates for these groups in the first 3 years are estimated to be 10%, 5%, and 20% respectively.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    28 views3 pages

    Target Market: Total Addressable/Available Market

    Uploaded by

    Hera Jan Rej Maglaya
    The document discusses the target market for a bakery called Baker's Touch in General Santos City, Philippines. It estimates the total addressable market to be 653,000 individuals living in the city. Baker's Touch aims to cater to at least 250 customers per day and expects increased demand for ready-to-eat foods. It anticipates a smaller market share of 0.6% for local residents and 2% for tourists in the first 3 years, growing 4% annually thereafter. The key customer groups are professionals, celebrators, and students, and growth rates for these groups in the first 3 years are estimated to be 10%, 5%, and 20% respectively.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    TARGET MARKET

     Total Addressable/Available Market


    According to published sources, there are an estimated 653,000 individuals living
    in the city area of General Santos as of the current year. We believe that the increasing
    consumption of ready-to-eat food across General Santos City owing to hectic lifestyle is
    expected to fuel the Baker’s Touch product demand over the years. Therefore, we will
    incorporate as our total available market the mentioned number. Moreover, the business
    aims to offer its products at a competitive price to meet the demand of the low to higher
    income local market area residents and tourists.

     Served Available Market


    Our plan is to have a bakery that becomes a magnet for the city folks. Baker’s
    Touch expects to catch the interest of the people for its cheap and broad variety of
    bread and pastry products. However, the business anticipates minimal sales problems
    due to mild competitive climate in the area. Because of this, we target to cater at least
    two hundred fifty (250) customers per day. Besides, we also accepts orders for
    occasions such as weddings and birthdays and on that ground, our served available
    market will be augmented.
     Share of the Market
    There is no doubt that Baker’s Touch is competing with a variety of similar
    businesses such as Ice Cream shops, Coffee shops and Supermarkets. Hence, we are
    looking forward to a smaller share of the market for the first three (3) years of existence
    in the industry as shown by the graph below.

    This study source was downloaded by 100000848995609 from CourseHero.com on 06-19-2022 05:54:59 GMT -05:00

    https://www.coursehero.com/file/57407814/Target-marketdocx/
    Baker's Touch Share of the Market
    (in percentage)
    0.6

    3.2 8.2

    Other Bakeries Other than Bakeries


    Baker's Touch: Local Residents Baker's touch: tourists

    After three (3) years, we expect that there will be an increase of four percent
    (4%) annually in our share in the market.
     Key Customers
    Our market is divided into three (3) different customers: professionals,
    celebrators, and students.
    Professionals: they are mainly white collar workers who may stop in on their own or
    bring their colleagues.
    Celebrators: people celebrating special occasions. Birthdays, anniversaries,
    graduations, valentine's days, etc., families and loved ones who will gather at or order
    from Baker’s Touch.
    Students: from elementary to college students, after school, are expected to stop at the
    shop on their own or with their friends.

    MARKET ANALYSIS
    Year 1 Year 2 Year 3
    Key Customers Growth
    Professionals 10% 3000 3300 3630
    Celebrators 5% 2000 2200 2310
    Students 20% 5000 5500 6600

    While our target market is the entire population in the city area of General
    Santos, we will have to focus on the professionals, celebrators, and students since they

    This study source was downloaded by 100000848995609 from CourseHero.com on 06-19-2022 05:54:59 GMT -05:00

    https://www.coursehero.com/file/57407814/Target-marketdocx/
    are likely to be the most prevalent and steady customers due to the unique nature of
    their day-to-day routine. They represent groups of people sharing similar behaviour
    patterns and reasons for patronizing Baker’s Touch.

    This study source was downloaded by 100000848995609 from CourseHero.com on 06-19-2022 05:54:59 GMT -05:00

    https://www.coursehero.com/file/57407814/Target-marketdocx/
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