The four P's of Marketing are:
Product, Price, Place and Promotion.
Product
We sell tarts.
The tarts come in three flavours:
Chocolate
Cheese
&
Oreo Cheese
We order the tarts from a bakery house, Orange Delight Cake House, which is located at Selayang, Kuala Lumpur.
Orange Delight Cake House is halal certified
We sell tarts because Malaysians love to eat tarts, regardless of ethnicity. Malays, Chinese, and Indians, who doesn't love some good, tasty and comforting tarts? On top of that, most people could not resist the temptation of a good pastry. Our tarts stand out as no other group of students are selling tarts in the IUMW campus. Even though Hokkaido Baked Cheese Tart and Tokyo Secret are selling tarts in many areas outside of the campus, there is no direct competition because our target market is the IUMW community.
*IUMW - International University of Malaya-Wales
Photos of our product:
Chocolate, Cheese and Oreo Cheese tarts are placed nicely in a plastic container.
A box of Oreo Cheese Tarts.
A box of Chocolate Tarts.
A box of Cheese Tarts.
Price
RM6 for 3 pieces;
RM10 for 6 pieces
The original cost for each individual tart is RM 2.50. We managed to reduce the cost by purchasing in bulk, RM1.10 each for Chocolate tart; RM1.20 each for Cheese tart and Oreo cheese tart.
By selling a tart for RM2 on average, our profit margin would be 40%. Even though it is not very profitable, we are still able to sell the tarts in the campus as our selling price is very reasonable and affordable for the students and lecturers.
Strategy used: We sell 6 pieces of tarts for a price of RM10 to encourage customers to buy more as the tarts will be RM2 cheaper. (6 pieces of tarts originally cost RM12)
Place
International University of Malaya-Wales (IUMW)
IUMW community is our target market therefore International University of Malaya-Wales (IUMW) is the best place to sell our tarts. Academic classrooms are our usual selling spots, such as Seminar Hall 1 and Room 204/5.
Strategy used: We often sell our tarts during break time in Marketing class on Wednesdays, as the break time is usually 20 minutes. This allows us to have sufficient time to promote and sell our tarts.
Next, academic office a.k.a lecturers's room is also where we do our business. As Madam Syaida once told us, no one really comes in to the academic office to sell, then further encouraged us to sell our products to the lecturers. We listened, and we obeyed.
Strategy used: We usually sell to the lecturers on Fridays, as there is less students in the campus on most Fridays.
Library area is a suitable place too! Although there is a vending machine outside of the library, we are still able to sell our tarts to the students as it is a place where most students hang out. Furthermore, the cafeteria is quite far from the library. Students who study in the library can just conveniently purchase from us.
Promotion
Promote via Whatsapp;
Free food tasting;
Early bird price
During our business introductory period, we promote our business by sending out messages in Faculty of Business & Law group via Whatsapp. Through social media such as Whatsapp, we are able to raise awareness among the students about our business. We are also able to grab their attention and interest by writing a good copywriting.
On our first week of sale, we give out free food tasting. Customers are allowed to try the tarts before purchasing. We find this strategy very effective as many of our course mates bought the tarts immediately after they tasted the tarts. Without a doubt, they find our tarts delicious.
Next, we provide early bird price to customers for the first two weeks of our business. The early bird promotion is RM5 for 3 tarts. What a steal!
The pictures above show that we provide early bird price (3 tarts for RM5).
Second picture shows that we give out free samples / free food tasting for our chocolate tarts.
Customers (our course mates) trying out the food sample.
A crowd of people eager to try the tarts before making purchases
One of our first customers 😁💓
💓
Our Instagram Page
Our Instagram page has 42 followers.
A customer was interested to purchase our tarts.
We received an order from a customer on our Instagram page.
Conversation with our customer.
We received a good review from a customer.
Contribution to Community
#1
We are so blessed as we were able to give out a total of 25 tarts to the security guards of IUMW.
All thanks to Madam Syaida! (Madam Syaida paid for all 25 tarts)
#2
Click to play the video
On Friday, 30th November 2018, we contributed RM34 to charity by buying food and drinks for the less fortunate.
