The Cheesecake Factory Marketing Plan Research Paper

The Cheesecake Factory Marketing Plan - Research Paper Example This essay discusses that the Cheesecake Factory is one of the successful American stories. The company has bagged some awards like the 2010 Zagat award for best dessert and best salads, 2010 Halo gold award for the best cause marketing event, etc. The Cheesecake Factory is planning to expand its business over the next five years in around five countries such as United Arab Emirates, Bahrain, Kuwait, the Kingdom of Saudi Arabia and Qatar in the Middle East and North Africa, Europe, Russia, and Turkey. The country where the Cheesecake Factory can trade in is Europe. Europe market is expected to grow at an annual growth rate of 0.37% in 2008-2011. The top companies are expected to supply at a rate of 23%. The largest market is Germany with a total share of 25%. The company deals in with bakery products. They produce good quality of cheesecakes and involve a lot of innovation in their products. The new product to be launched is the ‘Green Tea Cheesecake’. The company target market is people who love to have bakery products, dessert. The environment of the hotel is such which makes customers love the place and its offerings. It s target audience is consumers right from a kid to elders people. The US has always experienced a deficit in the bakery products. Its trade deficit was large with Canada and Europe. The condition improved in 2002 where the import value stood at $685 million. Since then the US market has been growing in terms of bakery products. Since the trade condition has improved, the company can take advantage and expand its business in countries where the trade conditions has improved. The company has been dealing in bakery products, and is planning to expand in other countries. The best option would be to expand in Europe. The company is a sole proprietary. It started of its business in the year 1978 and till date it has been among the top most company. The factory was started by Oscar and Evelyn Overton and eventually it was handed by their son David. David founded The Cheesecake Factory restaurant in Beverly Hills, California. Marketing Plan The European market produces 25millions of bread each year with the industrial plant share of 8 million tons. The craft bakers represent the bread production for about 48% of the total volume. The plant bakeries have a market share of 75% to 80% of market share. The fastest growing sector is the in store bakeries, as the retail market is booming and the retailers gain a market share (The Federation of Bakers, 2007). The retail bakery market in Europe was estimated to be 65.5 billion by 2000. There has been a variation in the European countries. In states like Italy and Sweden, the market grew from 12% to 17% in 2000. But in large markets like France and Germany, it grew only by 4% and 3% respectively. The per capita consumption in Europe is generally high as compared to other countries (Payne, 2003, p.25). There has been a good trend of bakery market in Europe. Thus the Cheesecake Factory would be able to adopt itself in the European market. The market has a good opportunity and the potential to grow is also high in the market. The industry is of bakery product, therefore there is no barrier to enter and exit. The European market is an open market. The barriers for entry are low. The European