Marketing Management Market of Singapore

Question: Discuss about the Marketing Management for the Market of Singapore. Answer: Introduction The BreadTalk Group Limited is a Singapore based bakery company that was established in 2000. This company is famous for the range of variety of cakes and breads they sell in the market of Singapore. The company has decided to expand the market and increase the range of customers. In this assignment, the marketing strategies that are required for BreadTalk in order to expand their business at the international level are discussed in details. At present, the market segment of BreadTalk is limited to Singapore and in the southern region of Asia. Hence, in order to establish as a global brand, it is necessary for the company to strengthen their market in the South East Asian region. They need to make full use of the healthy reputation they have in the Asian region that can help them to increase the brand awareness in the international market. Market segmentation and target market are the most important strategy tools for a business organization (Wedel and Kamakura 2012). These can help them to divide the market based on the consumer choice and characteristics of a particular market. The excellent quality of bakery products of BreadTalk can is best for the class of people, who like to have good experience with food. With the help of inspiring tagline like Bread can communicate with you and Breads that can inspire the customer to think differently it is possible to attract the consumers, who are passionate about food. Moreover, with the help of situation analysis, it is possible to make the best use of the opportunities that exist in the consumer market or a region. With the support of the marketing mix tools, it is possible for BreadTalk to make strategies for the critical parameters or business like product, place, price and promotion. The products for BreadTalk includes innovative bakery and the price of these products are usually kept on the higher side so that it is possible to maintain the premium quality. The company has nearly 1000 outlets in the Asian region and in order to rise at international level they need to open stores outside the Asian countries. They can use the strategy of Bread Showroom with a view to promote their products (Breadtalk.com 2016). The premium quality and the wide range of breads, pastries, cakes and other popular bakery products that are sold by BreadTalk are the biggest strength that will help the company to retain the present reputation. With the help of revolutionary and innovative marketing strategy, the company can gain significant competitive advantage over their rivals bakery companies. The company can also diversify into ne w sectors with the help of innovative bakery products. This will help the company to attract the customers from the rival companies like Cheesefactory and Starbucks and thereby expand the market segment. They can also make full use of the opportunities that exist in the countries outside the Asian region. Hence, the BreadTalk is able to establish their reputation as an international bakery brand with the help of appropriate marketing tools. Reference Breadtalk.com. (2016). BreadTalk Group - Our Strategy. [online] Available at: https://www.breadtalk.com/en/strategy [Accessed 30 Sep. 2016]. Wedel, M. and Kamakura, W.A., 2012.Market segmentation: Conceptual and methodological foundations(Vol. 8). Springer Science Business Media.