For many years, siopao industry has done great in the market. It started as just a food by Chinese people. Later, people from other countries discovered its deliciousness and adapted it and built their own business which offers these siopaos, also known as steamed buns. As the industry for siopao grows, different innovations have done to improve the product as well as to attract new customers. These innovations resulted to different variety of siopao which was introduced in the market. There are called bola-bola and asado which really get the attention of customers and led to high profits.
In this marketing plan, the study started by knowing the history of siopao before it has been introduced to the market and has its great success. By doing these, we have learned why siopao is famous among customers and discovered some of the secrets why siopao is delicious.This marketing plan states where the different varieties of siopao came from and the different known businesses that serve this product in the market.
In the latter part of the plan, we have shown how we arrive to complete the product and give the recipe we use. The pricing strategy that the team chose which the best strategy for the product is is also stated and the considerations in choosing the target market have been included. The positioning of the product or labeling is discussed. The way of the promotion and its distribution channel is also stated.
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