Sweet Cupcake Marketing Plan

MGMT 250: Principles of Marketing

May 5, 2011

Marianna Brown

Valerie Foster

Kelly Nolan

Emily Thomas

Executive Summary:

Sweet Cupcake Co. is a Boston-based bakery that currently has three locations throughout

Boston and Cambridge. Sweet is relatively new to Boston as is the cupcake trend which is late

to come to the East Coast. According to our financial research, we believe that Sweet is a

healthy, small business. Sweet focuses their resources on making quality products and building

an esthetically appealing brand. We feel that Sweet has an opportunity to build their business by

marketing an edible and customizable cupcake topper that will allow for an economic and quality

product. We are positioning Sweet to attract business professionals in Boston Proper and

Cambridge that are looking for quality, accessible, and affordable baked goods. Sweet

differentiates their business from industry competitors by offering a delivery service, on-line

ordering, and the customizable cupcake topper. To build brand awareness we plan to implement

an integrated marketing campaign comprised of three promotional advertisements, a public

relations campaign, and transit advertisements. Based on our financial projections we are

confident that our profits will increase by approximately $35,000 due to our new product,

additional distribution channel, and marketing campaign.

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Table of Contents

I. Situation Analysisa. Description of Organization and Product 3b. Industry Analysis 3

i. Industry Overview 3

ii. Environmental Analysis 5iii. Porter’s “Five Forces” 6

c. Competitor Analysis 7d. Company Analysis 9e. SWOT Analysis 12f. Key Issues Statement 12

II. Marketing Goals (Objectives) 13

III. Marketing Strategya. Target Market Description 13b. Points of Difference 13c. Positioning Statement 14

IV. Marketing Programa. Product Strategy 14b. Price Strategy 15c. Distribution Strategy 16d. Marketing Communications Strategy 17

V. Financial Projectionsa. Sales Forecast 19b. Financial Statements 20

VI. Monitoring and Controla. Implementation Timetable 23

Appendices/Exhibits 16, 23, 25, 26, 27

Bibliography 28

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I. Situation Analysis

a. Description of Organization and Product/Service:

Sweet Cupcake Co. is a cupcake, cookie, and cake bakery located in Boston and

Cambridge, Massachusetts. Sweet Cupcake Co. opened in May 2008 and since then has

expanded to three locations (Newbury St., Massachusetts Ave., and Harvard Square). Sweet is

best known for their array of freshly baked cupcakes and a menu that changes with the seasons.

For consumers looking for a custom cupcake or cake, Sweet has creative Artisans onsite to help

make any event a special one. Sweet Cupcake Co. also offers deliveries in Boston and

Cambridge for an additional $14.95 on orders of twelve or more cupcakes.

b. Industry Analysis:

i. Industry Overview

Sweet Cupcake Co. primarily sells cupcakes, but you can also find cakes and

cookies in their bakeries. Sweet is part of the larger fresh bakery products industry

(NAICS 311811 Retail Bakeries). The fresh bakery industry used to be comprised of

mostly bread and other pastries. MacKie forecasts that bakeries need to focus on

quality, value, sustainability, and health and wellness to continue to grow their

consumer base. “Product price may be the most compelling factor, but consumers

also are looking at nutritional value, convenience and product quality for the price to

define value,” MacKie reports. In regards to sustainability, Klecko reports that when

the economy begins to recover consumers are going to demand that businesses

participate in sustainable business practices. MacKie reports that the American

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Bakers Association has recently begun work on a “Sustainability Scorecard” that will

help measure the sustainability of bakeries and their suppliers. “In Modern Baking’s

2009 Retail Bakery Research, full-line operators rated the health concerns most

affecting their bakeries. Sugar-free requests topped the list at 15 percent, followed by

gluten-free or allergen-free at 12 percent. Whole grain (11 percent), natural/organic

(9 percent) and trans fat-free (7 percent) rounded out the top 5 (www.modern-

baking.com).”

Cupcakes are not a new phenomenon, but the cupcake industry is new within

the last decade and some believe it has already run its course. Muther (2011) of the

Boston Globe writes “Cupcake fad: Born July 9, 2000, on ‘Sex and the City.’ Died

Aug. 20, 2006, during columnist Joel Stein’s anti-cupcake rant in Time magazine”

(Muther, 2011, para. 1). In Boston, the first cupcake-only bakery did not open until

2007 and Joanne Change, owner of Flour Bakery in Boston, writes, “I think Boston is

late to the trend” (Muther, 2011, para. 6).

Darren Tristano, executive vice president of *Technomic believes one reason

the cupcake fad is not sustainable is because people are so health conscious. It should

be noted that Technomic reported that cupcake-only bakeries in the United States

made $100 million in total sales in 2010 (Muther, 2011).

According to, “Household Spending: Who Spends How Much on What,” the

average person spent $33.29 in 2005 on cakes and cupcakes. Of the age groups

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surveyed (under 25, 25-34, 34-45, 45-54, 55-64, 65-74), those under 25 averaged only

$19.61 per person spent on cakes and cupcakes. However, adults aged 35-44

spending averaged $47.75 on cakes and cupcakes (Household Spending, 2007).

*Technomic is a food industry research and consulting firm.

ii. Environmental Analysis

There are many factors in the economy that can have tremendous effects on the

cupcake industry. The cupcake trend was first launched in Los Angeles and New York,

two of the bigger cities in the United States. On average, a single cupcake ranges around

three or four dollars. This can be seen as expensive if one has the mindset of it only being

a cupcake and when you purchase multiple the price adds up. On the other hand, one can

see the price of a cupcake as relatively cheap and affordable if they are comparing its

price to a cake or larger dessert. An article from 2009 looks at the cupcake industry and

the economy together. About the cupcake industry, author Daniel Gross says, “Their

economic rationale withstands any and all conditions. When the economy is going well,

people can afford little extras like cupcakes. When the economy isn’t going well, people

can only afford cupcakes” (Gross, 2009). Although employment levels are finally started

to rebound, most of these recent jobs are paying minimum wage which makes consumers

very price conscious.

The demographic of the cupcake industry has spread to smaller cities within the

United States as well as other countries. The target market of cupcakes is wide ranging.

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Typically, buyers of cupcakes are looking for a snack, gift or dessert for any and all

occasions.

From a social standpoint, One Ocean Resort Hotel & Spa in Atlantic Beach, FL

has taken a different approach to the cupcake trend. They have used cupcake baking and

decorating as a teambuilding exercise for their staff. Pastry Chef Nancy Slatsky

comments on the activity. She says, “Learning to bake and decorate is the perfect

teambuilding opportunity because team members must use precision in the baking

portion, while decorating allows them to use their creative side” (Doyle, 2010).

The cupcake itself is a relatively simple and easy concept to act upon and does not

require many resources. With that said, there are many pricing strategies, marketing

plans, and business models that can be created to better the cupcake industry. However,

the key to success in this industry is responding to the environment in which your

business exists. Success is based on the ability to appropriately cater to the needs and

wants of current and future customers.

iii. Porter’s “Five Forces”

The rivalry among existing firms is high. This is because there are not many other

cupcake firms in the Boston area so the competition is very fierce. Supplier power is low

because supplies are extremely easy to obtain and pricing for supplies is low. The threat

of entry into the industry is high, because it is cheap to start up a cupcake business, you

don’t need a lot of labor and you can start a business out of anywhere. The threat of

substitutes is high, because there are many other types of products, which can compete

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with cupcakes. The threat of companies such as frozen yogurt establishments (ex.

Berryline pinkberry) is very high because it is an up and growing industry. Buyer power

is also high, because there are not a ton of buyers so the few that do buy can be picky and

demanding.

c. Competitor Analysis

Sweet Cupcakes Lulu’s Sweet Shoppe Rosie’s Bakery

Product Description Baked goods—cupcakes

and some cookies

Homemade cupcakes,

cookies, and cakes

Cookies, brownies, cakes,

tarts, catering

Target Market Consumers who enjoy

homemade cupcakes

Customers who enjoy

elaborate baked desserts

Customers looking for

desserts of all kinds

Positioning Strategy Delicious and elegant

cupcakes that are good for

any occasion

Local, family business

who shares a love for

cupcakes and other fancy

baked treats

An array of products for

all customers from simple

chocolate chip cookies to

decadent wedding cakes

Distribution 3 locations 1 locations 5 locations

Pricing $3-$5 $2.50 and up $12 and up (larger

desserts)

Promotion ----- ----- -----

Competitive Classification Niche Niche Niche

Rating Against Industry Key

Success Factors

Small scale, customized

and fresh

Very small, made for

locals

Relatively small, large

variety

Other Strengths Delivery service Customized treats Delivery service, option to

customize cakes, seasonal

menu, ability to order

online

Other Weaknesses Relatively new Very small Not all stores have the

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same desserts

o Product DescriptionSweet offers a wide variety of cupcakes and frostings as well as some seasonal cookies. Lulu’s

provides cupcakes along with cakes and cookies and was founded by a daughter who shared her

mother’s love of cooking. Lulu’s cupcakes come in a variety of unique flavors their prices are

somewhat cheaper in comparison to their competitors. Rosie’s is the largest of the three, with

the greatest array of products and ability to customize goods.

o Target MarketThe target market for Sweet is consumers who enjoy the simplicity and taste of homemade top of

the line cupcakes. Lulu’s target market is also those who enjoy cupcakes and baked goods.

Rosie’s target market encompasses the greatest amount of people because of the variety of

products that they offer. For example, one customer may buy half a dozen cookies from Rosie’s

to deliver to a friend, while another may have Rosie’s make their wedding cake.

o Positioning StrategySweet gives the image of a simple dessert that is elegant and suitable for any occasion. Lulu’s is

a local, small scale business that is visited mostly for the experience. Rosie’s has positioned itself

above both places in that they have the most amount of products as well as offer the most

services.

o DistributionSweet has 3 locations (Back Bay, Newbury Street, and Harvard Square). Lulu’s only has one

location (North End). Rosie’s has 5 locations (Chestnut Hill, Cambridge, South Station, Porter

Square, Wellesley).

o Pricing

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Sweet and Lulu’s have relatively the same pricing for cupcakes. However, Lulu’s has other

products that can be more expensive than Sweet’s. Rosie’s has the highest prices starting at $12

for half a dozen cookies, $47 for a Boston Cream Pie Cake and grow much larger when dealing

with wedding cakes.

o PromotionNone of the three companies have promotions that are noticeable on the website.

o Competitive ClassificationAll of the companies are in the niche phase. Rosie’s is the closet to moving away from a niche.

Sweet and Lulu’s are of such a small scale that they are catering to a very defined and specific,

small, target market.

o Rating Against Industry Key Success FactorsSweet has several types of cupcakes for different events and they pride themselves on having

fresh products. Lulu’s only has one location and a very basic website. They pride themselves on

being experience driven. Rosie’s has the most complex website and they offer the ability to order

online. They even allow customers to place orders via text messages.

o Other Strengths Sweet offers a delivery service for customers in the area. Lulu’s has customized treats. Rosie’s

has the most elaborate website and capabilities. Along with Sweet, they also provide a delivery

service as well as ship to 50 states via UPS in the United States.

o Other Weaknesses A weakness to both Sweet and Lulu’s is that they are both relatively new and small companies

that do not participate in much advertising. One of Rosie’s weaknesses is that not all of their

locations have the same products. This may upset some of their clients.

d. Company Analysis:

Strengths:

1. Sweet Cupcakes Brand

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Sweet Cupcakes has established itself has a fairly strong brand in Boston’s Cupcake

industry. Sweet cupcakes are known for their freshness and use of fine ingredients. Their

unique brand has been recognized by many awards and accolades including Improper

Bostonian’s 2009 award for Boston’s Best Cupcake

2. Sweet Cupcake Distribution

Sweet Cupcakes has three locations in Boston and Cambridge. Sweet is located on

MassAve, in the Back Bay, as well as in Harvard Square. By having a several locations in

highly populated areas that are accessible by public transportation, Sweet Cupcake has

increased the channels of distribution. Additionally, Sweet Cupcake provides a delivery

service. This makes their products more accessible to consumers. Consumers will be

more likely to purchase a cupcake there is a shop located near them or if they can get a

cupcake delivered to them.

3. Sweet Cupcake Product

Sweet Cupcakes are freshly made every morning from scratch. They are made with the

finest of ingredients right on location. This raises the quality of the product giving Sweet

Cupcakes a competitive advantage. Sweet cupcakes are also made with zero trans fat or

stabilizers, making them healthier than other types of cupcakes. Also, there are a wide

variety of options. Sweet Cupcakes provide consumers with about 8 main cupcake

options and then they have seasonal menus that further provide variety.

Weakness :

1. Sweet Cupcake Demographics

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Although Sweet Cupcakes has a strong brand, they are geared towards one type of audience:

women. The color palette in each location mainly consists of pinks, browns, and other light

colors. Frilly patterns decorate the walls. Consumers have described their cupcakes as “cute”

and “adorable,” possibly alienating a male demographic.

2. Sweet Cupcake Price Point

Although $3 may not seem like a lot of money, it is in the cupcake industry. The cheapest

cupcake Sweet has is $3 plus tax and most of their cupcakes are more expensive. The more

decadent the cupcake is, the higher the price. The size of the cupcake is not comparable to

the price, as sweet cupcakes are considerably small.

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e. SWOT Analysis

InternalFactors

Strengths Weaknesses

Store Location- In the heart of Boston and Cambridge close to public transportation.

Lack of publicity- Store front is their main form of marketing.

Offer Deliver- Makes it convenient for customers especially for giving a cupcake as a gift.

According to our survey many people have never been, or ever heard of Sweet.

High Quality- Sweet is none for its high quality freshly baked goods.

Two store front locations in a small area.

External Factors

Opportunities Threats

Prospective partnerships- Boston has many colleges, hospitals, and other businesses which may be interested in partnering up with Sweet.

Health Consciousness within the population. People more readily purchase healthier goods such as frozen yogurt.

Seek development in other locations throughout the city. There are many areas which would be great places to housing

Cupcake trend has come in gone in most other places, and there is a good chance its on its way out in Boston fairly soon.

Johnny Cupcake- If they partnered with Johnny Cupcake when people mistakenly go in wanting a cupcake they could actually get one.

Entry into the industry is fairly simple, and therefore there is a high threat of other companies breaking into the cupcake market.

Sweet could try and begin to target male customers in order to sell more cupcakes.

f. Key Issues

Sweet Cupcake’s key issues are:

Lack of brand awareness

Poor distribution coverage

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Low switching costs

Lack of sales promotions

II. Marketing Goals (Objectives)

- Increase sales of Sweet Cupcakes by 5% over the course of 12 months.

- Sell 10,000 more cupcakes than last year over the course of one year.

- Increase brand awareness by 50% over the course of 12 months.

- Open an additional Sweet Cupcake location over the course of 12 months

III. Marketing Strategy

a. Target Market Selection and Market Segmentation;

Our target market is adults aged 35-44 who are living and/or working in Boston and

Cambridge. They are more likely to be financially stable so they can afford high quality desserts.

According to, “Household Spending: Who Spends How Much on What,” the average person

spent $33.29 in 2005 on cakes and cupcakes. Adults aged 35-44 spending averaged $47.75 on

cakes and cupcakes (Household Spending, 2007). Sweet currently appeals more to females than

males, because of its feminine branding and storefront.

b. Points of Difference

o Sweet offers delivery to its customers within Boston and Cambridge, which allows the

busy, female professional on the go to take advantage of Sweet fresh goods even if they

don’t have time to make it to the store itself. With rising gas prices Sweet may need to

increase delivery costs or look into different modes of delivery such as bikes, or scooters.

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o Sweet has menus catered to the changing seasons allowing for them to offer a diverse

array of cupcakes. This sustainable and low cost advantage which Sweet can continue to

offer.

o Another specialty of Sweet is their ability to offer custom cupcakes for any event with

their onsite cupcake Artisans. With the downturn of the economy people may not be

splurging on custom made goods due to the high cost. The consumer can easily access

everything they need to create their own cupcake at home; however, Sweet offers a

higher quality product and Artisans to professionally decorate.

c. Positioning Statement

For consumers ages 35-44 in the greater Boston area with a taste for high quality

confectionary goods, Sweet Cupcakes is the brand of cupcakes that provides the highest quality

in fresh, baked goods and the convenience of delivery from our kitchen to yours because our

Artisans bake goods you wish you had time to make.

IV. Marketing Program

a. Product Strategy

Feature Benefit

Personalized Cupcake Provides customization for a variety of occasion (birthday, wedding, company advertisements, family functions)

Edible & delicious Replaces plastic cake/cupcake toppers. It is also better for the environment and kid friendly because it lacks the plastic feature. Every aspect of the cupcake is eatable and fleshly baked.

Attractive design You will be proud to have this edible disk topper at any function.

Product Changes

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Currently, Sweet does not offer online ordering. In a world that has become increasing

technologically savvy, the addition of an online ordering option would increase sales and provide

customer convenience. Additionally, it would help build customer relationships as the employee

would have more time to better serve the in - store customer as they won’t be managing as many

phone calls.

Along the option to order, customers will also be able to submit their photo for the edible

toppers to be included on any of our delectable Sweet Cupcakes.

b. Pricing Strategy

We have decided to keep the price points offered at Sweet Cupcakes. Based on the locations

of Sweet and our target audience, customers expect to pay the additional change for our desserts.

In comparison to competitors, Sweet’s prices are relatively in-between. Sweet is a few cents

more expensive than Lulu’s but not quite as expensive as the bigger bakeries that have more

products, such as Rosie’s. As far as substitute items, Sweet’s prices are nearly the same. Ben and

Jerry’s, BerryLine, and Red Mango all offer ice cream and frozen yogurt starting at prices right

around the same as Sweet. Our prices should be relatively close to our competitors and

substitutes so that we are able to attract the same array clientele. If our prices are too high then

we will lose customers and our sales volume will decrease. In contrast if our prices are too low

then we will not make a profit from our products.

As for the new product that we are introducing we have set the price higher than our other

cupcakes because of the customization aspect. These cupcakes will only be able to be purchased

by the dozen and will sell for $40. We have reduced the cost of each cupcake because the

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customer will be buying in bulk, but have added an additional amount of money for the edible

photograph topper.

c. Distribution Strategy

o Market Coverage Strategy: The extent of our distribution will be in Boston Proper and

Cambridge. These two cities are currently where Sweet Delivers. We believe that

staying local strengthens the Sweet brand and will not overwhelm the distribution

channels. The Sweet distribution is selective due to the fact that the target market is so

clearly defined and limited to two cities.

o Channel Design: The best direct channels of distribution are through the three Sweet

Cupcake locations on Massachusetts Ave., Newbury St., and in Harvard Square. In

addition the cupcakes can be ordered at www.sweetcupcakes.com and delivered within

the Boston and Cambridge city limits for a $10 fee. By adding the online ordering

feature, our cupcakes will be made more accessible to the busy, female consumer who

may not have the time to visit a Sweet location. Our deliver service also will continue to

cater to our target market; the busy, female professional. By expanding our channels of

distribution we aim to increase our sales.

Exhibit 1: Sweet Cupcake Co. Distribution Channel Diagram

d. Marketing Communications Strategy

Communications Objective

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Our main communications objective is to raise consumer awareness of the Sweet brand,

including their fresh goods and services. Through many channels of communication we

hope to reach the goals outlined in our previously mentioned marketing objectives

section. We also aim to raise awareness about our promotions and newly added features.

Proposed Budget

Our proposed budget for our marketing plan is $9,000 over the course of one year. Five

hundred and seventy seven dollars will be sent weekly for one print ad in the Boston

Globe. The print ad will over the course of 12 weeks throughout the summer. The

remaining money will be spent on transit advertisements as well as on the

Entrepreneurship panel and reception, held at Simmons College.

Recommended Media

We will utilize Facebook and Twitter in order to reach more consumers and drive the

younger demographic to the Sweet website. We will implement a strong print media

campaign through local newspapers and magazines, such as The Boston Globe and

Improper Bostonian. We will explore short Internet ads on local and geographic specific

websites such as Pandora. We will advertise with the MBTA to display our print

advertisements on public transportation as well as bus and train stops.

Trade and Sales Promotion

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We have established three distinct promotions to highlight the essential goods and

services of Sweet that will be utilized by our target market; the female business

professional on-the-go.

a. Decorative Cupcake Topper: Purchase one dozen cupcakes with the

personalized cupcake topper during the month of June and receive an additional ½

dozen cupcakes free. This offer only applies to the first dozen cupcakes

purchased (See Exhibit 2).

b. Free Delivery to Businesses within Boston Proper and Cambridge: During the

month of July for any business who orders a minimum of two dozen personalized

cupcakes we will offer free delivery within the city limits of Boston and

Cambridge (See Exhibit 3).

c. 20% Discount on Custom Cupcake Online Orders in the Month August: For

custom cupcake orders made through the www.sweetcupcakes.com website

during the month of August, customers will receive a 20% discount. There is a

minimum of one dozen cupcakes required to receive this promotion (See Exhibit

4).

Public Relations

We will deliver one dozen customized cupcakes to local media outlets along with a press

release showcasing the new, personalized custom cupcake toppers. It will also outline the three

monthly promotions that will roll out during summer 2011. Each media outlet will receive

cupcakes displaying their business logo on them. Sweet Cupcake will partner with Simmons

School of Management Entrepreneurship Department to offer a lecture and luncheon by local

woman entrepreneur and owner of Sweet Cupcake Company, Courtney Forrester, to Simmons

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women. Personalized Simmons cupcakes will be served during the luncheon. A press release

will be sent to Allyson Irish, Director of Simmons Marketing Communications prior to the

luncheon.

Personal Selling

While we feel that personal selling is important to any business, we believe that our target

market would benefit more from good customer service from our sales associates and our

delivery truck drivers. In May, prior to our promotional rollout, we will conduct mandatory

training sessions for employees who work directly with our customers. Our training session will

emphasize the importance of professionalism and good customer service. We will make sure that

every employee is completely informed of our new promotions as well as company policy.

As an incentive, we will have an internal employee contest. The employee that sells the

most personalized cupcakes will receive $100 bonus on their next paycheck.

V. Financial Projections

a. Sales Forecast

Based on our observation of the number of cupcakes that the Newbury St. Sweet location

bakes daily, we can assume that they sell an average of 300 cupcakes daily. From this

observation, we have calculated the predicted daily, monthly, and annual sales below.

o Predicted Daily Sales: 300 cupcakes @ $3.00/per cupcake=$900.00/Day

o Predicted Monthly Sales: 300 cupcakes x 30 days @ 3.00/cupcake = $27,000/Month

o Predicted Annual Sales: $13,500/month x 12 months = $324,000/Year

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We believe that the number of cupcakes in demand will stay relatively static, but the

addition of our more expensive customized cupcake topper will increase the average price spent

per cupcake. Therefore, we expect our annual sales to increase by approximately $35,000.

o Predicted Daily Sales: 300 cupcakes @ $3.33/per cupcake=$999.00/Day

o Predicted Monthly Sales: 300 cupcakes x 30 days @ 3.33/cupcake = $29,970/Month

o Predicted Annual Sales: $13,500/month x 12 months = $359,640/Year

b. Financial Statements

Fixed Costs

Rent (Including utilities) $36,000 per year

Delivery Truck $9,000 per truck

Managers Salary $38,000 per year

Industrial Mixer $20,000 per mixer

Industrial Oven $9,000 per oven

Packaging $7,000 per year

* Packaging in based on predicted daily sales. We predict 300 units sold per day. This is

25 dozen per day. We rounded up to account for customers purchasing more than 1 dozen

so we predict 40 boxes will be distributed daily. 40 boxes x 52 weeks = 28,000 boxes per

year. Each box costs $.25 which equally $7,00 per year.

Promotional Costs (Including 12 week print ad in Boston Globe, MBTA print ad,

Simmons College PR Event) $9,000 per year

Total Fixed Costs $125,000 per year

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Variable Costs

Ingredients (Based on most popular vanilla cupcake with promotional topper)

$.68 per cupcake x (predicted yearly sales) = $73,440per year

Employee Wages (Based on an hourly wage of $10/hr)

$ 1,860 per week x 52 weeks = $96,720 per year

Total Variable Costs (Costs of Goods Sold)

$ 170,160

Total Costs Per Year $ 295,160

Profit and Lost Statement

Total Revenue – Fixed costs – Total Variable Costs = Profit/Loss

$359,640 – 125,000-170,160=$64,480 in profit

Based on Profit and Lost statement, we predict that we will make $64,480 in profit.

Gross Margin

Gross Margin= (Sales Revenue – Total Costs)/ Sales Revenue

($359,640 – 295,160) / 359,640 = 0.17929

The gross margin is 17.9%. This means that 17.9% of sales is revenue.

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Break Even Point (Units)

Fixed Costs/(unit price-unit variable costs) = breakeven point

$125,000/ ($3.33- 1.58) = 71,429 units have to be sold to breakeven

Breakeven point units x unit price = breakeven point revenue

71,429 x $3.333 = $237,858.57 have to be made to breakeven

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VI. Monitoring and Control

Exhibit 5: Implementation Timetable

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Contingency – we will temporarily close down our location on Massachusetts

Avenue if needed.

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Appendices/Exhibits

Exhibit 2: June Promotional Print Ad

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Exhibit 3: July Promotional Print Ad

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Exhibit 4: August Promotional Print Ad

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Bibliography

Doyle, A. (2010). Cupcake Crazy. Successful Meetings, 59(4), 17. Retrieved from EBSCOhost.

Gross , D. (2009, September 3) . The cupcake bubble . Retr ieved from ht tp: / /www.sla te .com/id/2227216/

Household Spending: Who Spends How Much on What. 12thed. American Money Series Ithaca, NY: New Strategist Publications, Inc., 2007. 599 pp.

Martin, K. (2010). 2010 Bakery Industry Forecast. Retrieved from http://modern-baking.com/bakery_management/baking-industry-forecast-0110/index1.html

Muther, C. (2011). Victory is Sweet. The Boston Globe. Retrieved from http://www.boston.com/lifestyle/food/articles/2011/02/22/in_boston_the_cupcake_fad_is_still_growing_strong/

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