Assessment Task 2 BSBMKG401B Profile the market

$10.00

Category:

Description

Assessment Task 2 BSBMKG401B Profile the market

Assessment Task 2: Profiling Report

BSBMKG401B Profile the market

Pie Face

PEST Analysis

Political

  • Regulations of food businesses, business licenses, customer rights and business contracts are very strict and regulated thoroughly
  • Stability of the political status is even
  • Many laws and regulations (trade practices act, Consumer Act, ACCC and ASIC)
  • Taxes
  • Economic

  • Australian Economy is strong
  • High GDP per Capita
  • Low unemployment rate
  • Economy is growing steadily
  • Social

  • Sydney CBD is densely populated
  • Not many competitors specific to the products
  • Convenience is key for the CBD market
  • Good restaurant to socialise
  • Good quality products
  • Wide variety of products for consumers to choose from
  • Products are common and known to the Australian market
  • Technological

  • Technology does not impact the business significantly
  • Wi-Fi for customers
  • Online presence
  • Online franchising information
  • Promotions on mass media is more effective
  • Production can be improved though technological advancements in equipment
  • SWOT Analysis

    Demographic

    Pie Face is mainly known as a Pastry cafe and Products is only supposed to be consumed by people aged about 18+. Pie Face however does have other sweet beverages and fast foods making it mostly consumed by University students to workers aged to 60. Therefore the demographic market segment would be people aged 18 to 50. There is no specific gender that drinks however women tend to socialize more in the cafes. Employed workers are the highest consumers of Products however higher income workers tend to purchase Pie Face more often.

    Geographic

    Pie Face has locations all over the populated areas in the world. The Pie Face cafes are always in locations that are easy to see is a place to stay and talk to friends or have an interview.

    Psychographic

    Though Pie Face is a Pie and Products shop, its beverages are not really created for the strength of the Products. The taste is more of what Pie Face has gotten famous for and therefore people that wanted a little kick in their morning would be better off purchasing Products from a local café. Pie Face does have Products that gives a kick but it is more for the lighter Products drinkers. The Pie Face drinks and café is more for the people that want to talk and catch up on things. It’s Pie and other foods are quite expensive but the taste is what has made the company popular.

    ......

    Assessment Task 2 BSBMKG401B Profile the market
    Last updated: Feb 2024

    Page 1

    gth of the Products. The taste is more of what Pie Face has gotten famous for and therefore people that wanted a little kick in their morning would be better off purchasing Products from a local café. Pie Face does have Products that gives a kick but it is more for the lighter Products drinkers. The Pie Face drinks and café is more for the people that want to talk and catch up on things. It’s Pie and other foods are quite expensive but the taste is what has made the company popular.

    Behavioral

    People tend to drink purchase Pie Face products because it is convenient and the taste. Pie Face is something that the younger generations find to be a nice gathering place or a place that you can go to have a nice conversation with some food and a beverage.

    Target Markets

    Pie Face has a few target markets. The main target for Pie Face are business people around 25-40 years old who are working and have good to high paying jobs. This age group has been recorded to be around of Pie Face’s total customers.

    The other large target audience for Pie Face is young adults aged 18 to 24. This age group has been recorded to have about 40% Pie Face total sales. So these two age groups are responsible for almost all of Pie sales.

    Competitors

    The competitors of Pie Face are quite large when considering the industry of Fast Food. Many franchise fast food companies such as McDonalds, Starbucks, Gloria Jeans and many more have large impacts on the Pie Face sales. Pie Face has an advantage of a different marketing image of Pies which many customers specifically order when purchasing a Pie Face product. The Products of Pie Face is not significantly different and the other products do not appeal to customers as much as the Pies.

    Suppliers and Distributors

    Pie Face supplies its own products and the distributes the products through many franchises in the populated areas of Australia and now in America. The products are also delivered through Catering services.

    Consumer behaviour and demands

    The Pie Face franchise has the opportunity to increase a lot in Australia. For Australians with meeting or relaxing can go to Pie Face restaurant to take Pies, Coffees and other products to work. Customers in Pie Face are not just there for the high quality Products. They enjoy the nice offerings of free Wi-Fi and the social environment. Customers are seen to spend much more time in the restaurant as they are in other Products shops. After McDonalds have launched their café style sub chain Pie Face has lost a few percent of its customers as McDonalds offer very cheap prices.

    Industry sales trends

    The trend of industry sales has decreased since the introduction to many franchise Coffee and fat food shops in the area. There are still many loyal customers which come into the shop every morning to get their regular order.

    Market Share

    Pie Face is a large competitor and share company when it comes to all the cafes into the area. Pie Face has trouble competing with the international competitors and franchises. These companies only receive more companies because of their brand strength and brand customers base. However compared to other local businesses, Pie Face is very strong and has many customers.

    ...

    Assessment Task 2 BSBMKG401B Profile the market
    Last updated: Feb 2024

    Page 2

    You've reached the end of your free preview.

    Want to read all pages?