Integrated Marketing And Innovation Project Analysis

Integrated Marketing and Innovation Project
The baking and pastry industry, like many other industries, is filled with trends and changes that challenge businesses ability to stay relevant (Leslie, 2009). The product discussed in this paper is being considered as a tool that not only highlights success in the industry, improves consumer involvement, but also helps raise new interests in the field. This paper will include a description of the opportunity this product would provide, an outline highlighting key opportunities and how the plan will progress, a rationale for your selected opportunity related to marketing and innovation, references to the Porter’s five forces analysis and strengths, weaknesses, opportunities, and threats, as well as the application of the plan explaining to apply the marketing and innovation knowledge.
Opportunity
The Baking and Pastry industry is ever evolving and changing. There is an extremely vast amount of bakery options for consumer to choose from; ranging in type, size, and health focus (Martínez-Monzó, García-Segovia, & Albors, 2013). Bakeries are not just the small corner businesses serving cakes and other treats, bakeries are also larger
The strength of this product is that it offers a different service than almost any other product that is currently available. The hard work is being done for the consumer and they are simply able to access a large amount of information about the businesses in their industry. This product also creates a standard for businesses in this industry to live up to which can improve options for consumers across the board. There are also weaknesses within this product, such as its originality and the task of building respect around its brand. Also, possible resource limitations to help gather the large amount of information required to make this product