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Business

In: Business and Management

Submitted By GeorgiaGirl92
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IN THE MIDDLE: CUPCAKES

Cupcakes are a world-wide phenomenon, almost everyone loves a cupcake. Cupcakes are even a household name, which is why I have begun to start this business. Each of the 4 ps are important because they put together the whole business. You first need a product so you have something to sell; otherwise it’s not a business. Then you need a price to make a profit, a place to sell your product, and finally a promotion. The promotion helps to get your business going. Without all of these, even just missing one, you have no business.

The idea for “IN THE MIDDLE” was actually a pregnancy craving I was having. One night I wanted a cupcake but I also wanted a cookie. So I got to thinking what if you could do both? So I went out and bought some stuff and it took off from there. Everyone loved the idea and not many had heard of such a thing. So I took it farther, brownie in the middle, cheesecake and every day I try to take it one step further. Maybe one day I can finally open my own shop. I love to bake always have, I find it relaxing and soothing. So I thought why not make this project on something I know, my own business. The product is cupcakes, with a cookie, brownie, or cheesecake in the middle. Which is where the name came from thought it would be something fun and cute. These cupcakes are made from scratch, from the dough in the middle, to the cupcake batter, to the icing. All done by my hand from my own recipe, nothing is used in someone else’s recipe. It took me months to get to that point where I had the recipes perfect. To this day I still tweak the recipes from time to time trying to get it just right. I tried some different options like some vegan style, some on the more healthy side and some that are just so bad for you but taste like heaven; I try to appeal to the public in every way possible. To put a price on a product is actually more difficult than you think. You want to be fair to the public so people buy more, but you know at the end of the day that you have to make a profit. I settled on three dollars per cupcake, eighteen per bakers dozen. I’ve even thought about something like a four pack for nine dollars. This took a lot of time and thinking, discussing it with others to see what would be fair but also ensure I would have a profit. A place in this case could almost be anywhere; a grocery store, a shop of your own, salons, kiosks in the mall, farmers markets (in some cases). Those are just a few to name and for me to start this out I’d have to look at anywhere but a shop of my own. A place can be difficult depending on how versatile your product is. I’m hoping soon that I’ll start seeing my cupcakes on a shelf in the store and maybe in the next ten years I will have a place of my own. That is my main goal, my ultimate dream to own my own shop and have my name out there. Finally a promotion is important in its own way, you need a way to get people talking about your product, get them buying. Things like half off cupcake Monday so you can treat yourself to something sweet for the start to the week, call it “Monday Madness”. Or “Sunday Fun-Day” come in and create your own unique cupcake; icing, filling, cake flavor. Make it a crazy as you want or even something very simple. Would be great for the kids too, they get to be hands on in decorating their cupcakes to make it uniquely theirs. Others promotions like for birthdays, the person with the birthday gets a special package that would include; the birthday person decorating a giant cupcake for themselves and their guests get to decorate one. I've thought about some promotions for weddings or holidays, like baking cupcakes in wine or champagne glasses for the reception, making cupcake cakes for holiday celebrations. I’ve thought about doing some promotions for the big twenty first birthday celebration like cupcakes with a little alcohol in them and baking them in shot glasses. The list goes on, but to my point promotions are important for many reasons and one is just how people view your business. Promotions help establish what you offer and what type of cliental you will have. Sometimes how far your business will go is how well and how flexible you make your business. In conclusion if you don’t have all your ps then the business you have may not thrive the way you are hoping. Or if you don’t take each decision and really think about it, you could create a fatal error that could hurt your business. My idea with the cupcakes I’ve been working and planning for over a year. I’ve gathered many materials and spent a lot of money just so I could try to have the best equipment I can to work with. I’ve looked at decorating books and recipe books just to get ideas on favors and what I could do to make them more fun. I’ve had my friends and family take them to work or parties just to get feedback on what I could do to make them better. To the point a business needs everything you can put in it; you need a lot of planning a structure to make a business work.

Product: Cupcakes: satisfy your sweet tooth, anyone would want one. 12 different kinds, the cupcake brand would be “In the Middle”. These cupcakes have cookie dough, brownie dough or cheesecake in the middle.
Price: 3$ per cupcake
18$ per dozen
Place: Sold in a bakery, grocery store, or find them online. I may do catalogs.
Promotion: I would promote the product by word of mouth, social media, billboards, and commercials. Cupcakes are sold all year round; best times to really promote are holidays, birthdays, weddings or any other special occasion. Might do a promotion of build your own cupcake, you tell the flavor, the filling, the icing and the décor and I make them. It would help to broaden my market and give me an idea of what the people like.
Each of the P decisions are important because they help to establish the business. The marketing mix helps to determine how well the product will be received by the public. This tool helps you break down your product so that every aspect is covered.
Eric,
I know I needed a reference page and I hate to lose points but I wasn’t sure how to do that with the fact this is all a real business idea and my own product. Next time I’ll come to you sooner, but I just wanted you to know I understand I will be losing points for no references and if you can point me in the right direction I’ll make sure to do it next time. Thank you for taking the time to read this and I hope you enjoy my product.
Rowan

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