Marketing and operations plan Assignment Example | Topics and Well Written Essays - 1750 words

Marketing and operations plan - Assignment Example In approaching the course of studying the market successfully, the research into the market will entail engaging both secondary and primary sources of data. The secondary approach entails covering the publications on the industry that reflect the factors influencing the market. Additionally, the primary sources entail conducting individual research to collect data on the market. However, primary data is expensive to achieve, as such, this section will rely extensively on the secondary data on the market. The primary sources engaged include sample interviews and questionnaires on the niche of the business to get firsthand expectation of the market, for successful planning. The US fast foods industry is on the rise, with high density of businesses offering food services including bakery options. The total market is vast, entailing a population of about 500,000 people at the local town setting where the first venture will be located (Giovannucci, Barham & Pirog, 2010). Additionally, the business expects to expand significantly and own a share of the national market in bakery options. Thus, we expect to own at least 6% of the market share as we launch and grow accordingly to about 15% to remain equally competitive. The market has a high demand for bakery products, considering the high consumption of the products. the consumer preferences for bakery products remains high for low sugar content products, considering recent developments requiring he regulation of sugar content in products due to increasing cases of obesity (MÃ ¶ller, 2006). Nonetheless, the business will engage all legal measures to establish its product and grow accordingly as there is a n otable potential of capitalizing on the local market size accordingly. The aspect of high capital costs, training skills and marketing and consumer acceptance may prove challenging to the business entry. Nonetheless, as a