New venture development strategy - Dissertation Example

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New venture development strategy

It is evident from the study that the sudden and dramatic rise in interest for home-made cakes and pastries made by members of the family and the eventual distribution and spread of reputation of this family for the production of such innovative confectionery products builds grounds for the idea of development of cakes factories in Bulgaria. Bansko and Velingrad are targeted because of its high expected growth of tourism and forecasted large number of visitors to the place. Moreover, Pazardjik and Plovdiv demonstrates the presence of a customer base which is less price sensitive and more sensitive towards product qualities. The fact that 80% of the Bulgarians prefer local products more than imported products revealed by a research conducted by the Bulgarian Chamber of Commerce makes ground for making traditional Bulgarian hand-made cakes and pastries. The industrial analysis reveals the existence of a number of large players in the Bulgarian industry like Kraft’s food, Nestle, Masterfoods Bulgaria EOOD and Ferrero Spa and various small companies like Sugar Factory Kristal AD, Prestige-96 OOD, Den I Nosht OOD and Sigma Bio OOD. The chocolate confectioneries market is significantly strong in this industry. However, despite the presence of a large number of large industrial players the present company's business model seems to be lucrative and profit earning. The company's strategy to thrive on innovation and prepare traditional and handmade cakes and pastries is always to be appreciated by customers due to their consistent desire for local products and high quality products. ...Show more

Summary

The purpose of the research is to develop a new venture strategy for pastries and cakes in Bulgaria. The project analyses the target market for its products which includes market segments like hotels, restaurants, food shops and catering companies. …
Author : mcglynnalverta
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