Friday, March 1, 2019
Cupcake Shop
International University Vietnam bachelor-at-arms of Commerce Program ASSIGNMENT COVER PAGE Your assessment exit non be accepted unless all fields below ar completed Subject Code BUSM4092 Subject Name Applied Entrepreneurship fix where you study RMIT Vietnam SGS Title of Assignment Feasibility summary Student cognomen Kim Koan DongPham Anh HoaNguyen Phu HaiPham Phuong Nghi Student derive s3324450s3298342s3255278S3269894 Learning Facilitator in charge Ms. Agatha Heng Assignment imputable date 07/09/2012Date of Submission 07/09/2012 Late Submission Approval Number of pages including this oneness (Please number your pages analogous this page 1 of 7, page 2 of 7, etc) 27 Word Count(Main Content) 5,558 EXECUTIVE SUMMARY Having noniced the contrast opportunity in provender, e specificly in confection in the Vietnam food market, U streaks seam idea is developed. The purpose of presenting this idea is to economic aid guests embodying their precious cognitive content into barroom, the requisite item in e very(prenominal) celebration.This arse be regarded our none idea as the current market has not provide it. investigating revealed that choosing young pot 15 to 30 living in Ho chi Minh City as potence targets in terms of gain in population, GDP and positive behavioral change towards cake. More everyplace, market investigate found that on that point ar competitors with strong brand name and reputation. that Ucake lowlife survive among the opponents with portion differentiation focus strategy in which Ucakes core secernate attend to is customers ego adorn cake.Ucake provides bailiwick base cake, hygiene environment with reinvigorated and assorted top-flight, and then customers simply get along to shop and decorate their cakes goodly and stiff with meaningful memory supported by superior advice by Ucakes chefs. Otherwise, customers can choose cake design from hundreds of models that suit their veritable(a)t. Among th e summary, out lay out five years fiscal statements, showing estimated governing woo, tax tax revenue and depreciate, atomic number 18 included to master that Ucake is able to break-even within 3 years. TABLE OF content EXECUTIVE SUMMARY2 I. The Business Idea4 1. Opportunity description4 . Product / attend description4 3. Description of the entrepreneur team5 II. The effort and Market6 1. Current pains Analysis6 2. Market potential Analysis7 3. Competitors Analysis (referred to Appendix 3)8 4. guide market/customers9 5. Market shrewdness (referred to Appendix 5)10 6. Stakeholder Analysis11 III. Business Model Analysis (referred to Appendix 6)13 1. Revenue sources13 2. salute drivers13 3. Resource requirements / social occasion13 4. Investment size14 5. particular mastery factors15 6. danger analysis and management16 IV. Future Action Plan17 1. Sources of start up capital17 . advertise information requisite17 3. Support needed18 REFERENCES19 APPENDICES21 I. Th e Business Idea 1. Opportunity description Currently, Vietnamese heap atomic number 18 accustomed to Western culture, so they consider cakes not only as desserts or presents for birthday, alone handlewise indispensable items in special events such as Christmas or anniversary vocalizationy. This trend leads to the quick growth in demands of cakes, concomitantly in holiday period alike(p) Christmas (Bao Moi publisher, 2009). Not stopping thither, tribe also want to make their cake becomes to a greater extent momentous to suit the purpose of break offies or events.However, thither ar suave no bakeries allowing customers to decorate cakes by themselves. As entrepreneurs, this is a bang-up occasion for Ucake to develop a disdain idea to create more(prenominal) than values and options for customers through its differentiated go. 2. Product / service description Ucake bakehouse that has differentiated serve leave be opened to make customer feel convenient and comf ortable, bring more benefit, and sitisfy their needs. deuce of import services leave behind be developed. Firstly, dissimilar cake designs go away be updated for customer to choose, and then Ucakes bakers give make cakes exactly found on designs offer.Moreover, customers also can prefer their profess design for Ucake to impose. Although the design of cakes is some clocks not favored some customers, they still fork out to buy it as they experience a few(prenominal)er choices. This problem can be solved when customers come to Ucakes set up where they have versatile choices and they can even ask Ucake to make the cake based on their cause suggestion. Here at Ucake bakeshop, it sells not only cakes designed by its chime in, but also cakes customers want to have. Another service is ego laurel, which there argon spaces provided for customers, and all necessary equipments atomic number 18 to support them decorating cakes on their own.When development this service type , customers go forth pay for a plain base cake, toppings, and figure out to design the cake and what is more, they are allowed to try the taste of the cream, toppings before purchasing. To religious service clients better understanding of the services, Ucakes bakers are there and pass oning to give advice for cake decorates. The cakes can become so of import for the receiver if people decorate it by themselves. For ex axerophtholle, parents willing be very surprised and happy if their children decorate a cake as a gift for their wedding anniversary.However, most of Vietnamese people do not have enough necessary equipments or places to decorate a cake. This thin has been recognized, and Ucake wants to generate services that give its buyers chances not only to apparel this mannequin of desserts but to enjoy the fun and relaxation as well when they come to Ucake. 3. Description of the entrepreneur team A assembly four undergrad students who are taking bachelor degrees in RM IT University are recently having their family dividing linees fountain profitably in the Vietnam assiduity.Having followed different majors with background s of serving business, market, design, and especially in the hospitality streams, the team has ambition of launching a bakery topical anaestheticly which is called Ucake. On that account, the team researchs for potential opportunities with creative action to help solving customers problem, giving them more benefits, and also generating profits signally for their business. In addition, each member has developed a wide pervade of professional relationship that would sustain their project in positive formulation and scale through their familys network and friends.By employing some of members real working(a) experiences from their family business and other service trues, the team is expecting use their conditions and supports to start up Ucake bakery successfully. II. The Industry and Market 1. Current Industry Analysis To ameliorate Ucakes strategies and support the awareness towards different features hazarding its business, Porters five forces model is utilise for analyzing risks that helps Ucake to control in heightser further in the Vietnam industry. According to Rice (2010), this model contains five typical aspects. 1. 1.Bargaining business office of suppliers Low Within the bakery industry, raw stuffs are vital factors that chair to the success of a business leading to elevated value of products and prestige. Usually, prices of materials like flour, sugar, milk are depended on the level of forest customers want to invention at. In Vietnam, sources of suppliers for those ingredients are relatively diverse that can be derived from local anesthetic grocery stores or larger suppliers. Hence, Ucake will have more options choosing corpus that are appropriate for its budget and demand. 1. 2. Bargaining power of buyers loftyNowadays, the Vietnamese people are settled by Western cult ures and tend to go to cake shops as their hobbies, especially on holidays and other events. With many bakeries throughout the country, customers are advantageous to experience excellence and different prices of various bakery shops. Besides, many youths are also interested in do cakes by themselves as a result, clients have more knowledge of selecting the right cakes which are suitable for their commandment. 1. 3. brat of new entrants High Since the regulations and procedures of starting up a bakery in Vietnam are not so complex (Vatgia. om, 2011), which even people with nonaged capitals can also invest on this kind of business, barriers to enter the industry here are not high. Therefore, as a new comer, Ucake faces the little terror of self laurel service imitation from other components, including existing and orgasm cake shops. 1. 4. Threat of substitutes High The level of threat of substitutes that Ucake faces is pretty high as there are many different types of nutriti on and dessert services developing in Vietnam (VietnamBriefing, 2008), such as ice cream, yogurt, fast food, Vietnamese sweet soup, etc.Thus, clients have various options of switching to other food once their demand of consuming cakes decreases. 1. 5. Rivalry among existing regulars High At the moment, only in Ho khi Minh City, there are over 100 bakery stores located widely, and the competition of bakeries are getting more and more intense as many large and runty local bakery stores exist in the market (Phan Le, 2012). Furthermore, the local bakeries also have to compete under pressures of investings from some famous foreign bakeries, which might affect customers perceptions and operations of local bakeries as well as Ucake. . Market potential Analysis Regarding this area, PEST model is used to examine the environmental part for executive strategies. 2. 6. Political Due to To bring (2008), food hygiene and preventive are some of the biggest issues in Vietnam, and this issue is much cared by the government. interrogation Center of Business Administration claims that HACCP is the highest international license required by the Vietnamese for a firm which wants to operate in food industry. So, Ucake mustiness have HACCP(Hazard Analysis and Critical Control Points) to strike the Food safe Law. 2. 7. EconomicUcake will have to take moderate rental comprise, so the stores location does not have to be positioned in the shopping mall of Ho Chi Minh City. Due to Diaoconline. com (2012), the approach for a two ball over shop in district 5 is slightly 1,000USD. Cost of mental quickness and equipment for a new proceed are paid exceedingly in the offset year in terms of the good character reference facilities and equipment in sound out to make customer feel comfortable. However, since they are mulish costs, the venture does not need to pay anymore in next few years, and maintenance costs will be paid less kind of.According to VietnamBranding (2008) , Vietnamese people refer Western fast food than Vietnamese. 2. 8. Social Dan Tri Newspaper (2012) states that Vietnamese people care and obverse more Western tradition and events (Christmas, sustains day, Halloween) and considers that cakes are commonly used in many parties and special events. This leads to high demand of cake, and especially during Christmas. Besides, in this century, people do not only want a delicious cake but more and more care more near nutrition and health issue (Viet Bao Newspaper, 2005).So, if Ucake has HACCP for ensuring the caoutchouc of the cakes and researching some of new healthy ingredients, more and more customers will be more attracted. 2. 9. Technology As a miniscule business, high engineering is not really fundamental for Ucake. However, Ucake need to have fresh, safe and high spirit ingredients. Hence, safe and clean process of making and decorating cakes are highly presented, also the bakery can cooperate with its supplier to do research a nd development to ad equitable the amount of sugar and please customers, especially that are fastidious. . Competitors Analysis (referred to Appendix 3) 3. 10. Direct competitors Regarding the direct competitive environment, generally, most of Ucakes components are other bakeries in Vietnam, which are large local bakeries, small cakes and cafe shops, and foreign bakeries. Some of Ucakes particular competitors consist of Vietnamese ones like Brodard, Givral and Jous Les Jours bakery from overseas. Firstly, Brodard and Givral bakeries are two of most long sequence businesses in the Vietnam bakery industry that selling cakes and other breads.Overall, both of them provision cake orders from clients like Ucake conversely, as their service regards to only takeaway cakes, they do not have self decorated cake services for buyers. For Tous Les Jours which is a popular chemical chained bakery from Korea that generally offers clients fresh breads, cakes and other desserts, the chain presen tly has more than 8 stores allocated in Ho Chi Minh City. analogous to Ucake, Tous Les Jours accommodates consumers with cafe spaces, and also makes cakes through customers idea suggestion.Nonetheless, the Korean chain does not have self decoration cakes and hardly to change to this kind of service while their sentiment is consistent, and because of their large number of branches. 3. 11. Indirect competitors In this field, as Vietnams integration has been widely opened, different investors of foodservice gradually find opportunities in the Vietnam market. As a consequence, Ucakes indirect competitors are both internal and foreign foodservice businesses surrounded by the nation.Among those components, Baskin Robbins (ice cream chains), Yogen Fruz (Yogurt chains) and Lotteria (fast food chains) are selected to exercising weight against Ucakes potential. In general, all of those 3 businesses are serving expenditure services apart from Ucake, and their attitudees are reasonably strong compared to Ucake as a new comer. In addition, none of them contains mutually two kinds of services that Ucake has. For this reason, even though Ucake is totally new and less popular, its operation is not change much by indirect challengers in terms of this new differentiated variety of service. . Target market/customers (referred to Appendix 4) 4. 12. Geographic According to origination Bank (2012), the GDP per capita has been increased evidentiaryly since the year of 2000. Among the provinces, Ho Chi Minh Citys population claimed the highest with almost 6,000 people in 2010. Moreover, peoples average income in the northern area is also high, which especially in Ho Chi Minh Citys was estimated the greatest with approximately 3,000 USD per year (Hoa Le, 2012) determining higher consumption compared to other regions.Hence, Ho Chi Minh is an ideal location for Ucake to pattern for starting up the investment and seek to achieve good profits. 4. 13. Demographic Ucakes targete d customers are aimed at the ages from 15 to 29 who are mainly teenagers and youths going to work as there are numerous young ages of under 30 that acquire more than 50% of the Vietnam population (Nielsen, 2010). 4. 14. Behavioral Those groups of audience above are targeted not only because of their excess in the country population. Typically, a majority of them tends to line up new updates of trend due to the international integration prospect and mildew from other countries cultures.Thus, that is one of the reasons why many young Vietnamese people have interests in Western fast food and desserts by the air of investments regarding these kinds of food in the Vietnam market. Viet Bao Newspaper (2005) states the progressive encouragement of the Vietnamese of considering hale products as their vital priority for consumption in recent decades. For those points, Ucake finds it quite a potential with great opportunities to set goals for achieving success through this targeted marke t. 4. Market penetration (referred to Appendix 5)Since the cake market is already at the maturity peg of the product life cycle, in order to enter the industry preeminence Focus Strategy is applied to Ucake. QuickMBA (n. d) says that Differentiation Focus Strategy can help the firm to narrow down to a specific group of customers, and give consumers the best and different services compared to its competitors resulting in retaining customer loyalty. However, there are some limitations with this tactic that Ucakes service can be imitated or its targeted segment changes consumer needs.Guerilla marketing Ucake has to do marketing activities strongly in the number 1 year as it is a new and small firm in the market, and guerilla marketing is an ideal implement for new business which has restrain marketing budget like Ucake. Some experts (Levinson, Levinson, &type A Levinson 2007) quest that guerilla marketing is an easy and inexpensive marketing method for small business. Guerilla ma rketing strategy focuses on low cost, unconventional marketing tactics, and puts more time and effort to achieve maximum result. One hebdomad before the spring of the shop, some of refrigerated cabinets made by scrap can be placed on public places such as parks or supermarkets. Then Ucakes big designed cakes are displayed inside to catch peoples attention and trigger their curiosity. The guide word Your Cake will be put on cabinets to introduce Ucakes business idea to clients. * Additionally, few days before the launching day, the measure of announcing the decoration contest will be also situated mount refrigerated cabinets to invite people to participate. The contest will be held during the opening day.Customers can join and buy their cakes with fractional prices Advertising advertisements of Ucakes establishment day will be posted on magazines for youths and teenagers such as Tiep Thi va Gia Dinh and Hoa Hoc Tro. A Facebook page of Ucake will be created as well in order to e xpand the brand community. Facebook is an ideal place for us to reach large number of potential customers. Ucakes products and other activities will be informed which are easy for consumers to view wherever they are. This social media tool can draw customers interests and Ucake can receive advantages from this marketing effect. 5. Stakeholder AnalysisBeside the owners, people that influence the mathematical operation and success of Ucakes business can consist of the customers, supplier and employees. Those important stakeholders are categorized and emphasized in 4 particular aspects in the table below. Stakeholder Role Level of effect Expectation supposed(p) risks Investors Devoting for the establishment of the business Moderate Making decisions in right investing and capitalizing for beneficial profits of the family Lack of financial sources or nonstarter would threaten the operation of the business Customers Consuming goods and service of the bakery High More usage of roducts and services from customers helping the business to gain status and revenue to compete with others Bad comments from customers affecting the reputation of the business whether quality of goods or services do not satisfy them Supplier render raw materials to the client bakery (i. e. flour, sugar, butter, milk, etc. Moderate Providing required quality and quantity of materials not only to enhance relationship with customers but also help generating profitable products for customers Bad quality of raw materials supplied or new-made spoken language time will cause unqualified products or agree in the protrude of the business Employees Supporting and controlling the operation of the bakery High Adding competent value to the business by applying their trained skills to the service and attending to customers in order to improve the bakerys performance Low capability, misbehavior to customers leading to decrease in turnover of the businessIII. Business Model Analysis (referred to A ppendix 6) 1. Revenue sources The revenue is mainly generated from two items which are customers ordered cake and self decorated cakes. Customers ordered cake is produced based on the design that customers choose from Ucakes menu. Therefore, the price of each cake is the revenue varying due to the size and design from 300,000VND to 400,000VND. Customers self decorated cake is made through this process, in which Ucake provides a plain base cake and customers decorate the cake by adding toppings and creams according to their preference.The fixed revenue will be sale price of the base cake (150,000VND), and additional revenue is earned by the amount of toppings they supplement which costs 15,000VND per package of one kind of topping. Minimum of 100,000VND of toppings is expected to be just enough for decorating a whole cake nicely. Furthermore, revenue from self decorated cakes is anticipated to be greater than from ordered cakes. Research result shows that there are no competitors pr oviding this service at the present time. Other revenue is earned by the sale of soft drinks sold for customers in the shop, and one can of the drink costs 15,000VND.As the price is relatively cheaper, it will not be considered as crucial revenue to curb maintenance of business. 2. Cost drivers Number of consumers or sales of cakes will increase the raw material expense. Ucake only sells cakes, and the expense to satisfy customers demand will have the greatest impact on cost structures. Ingredients to bake plain base cake, such as eggs, sugar, butter, milk, salt, flour and cream, must be kept fresh so JIT (Just In Time) strategy will be utilized to decrease size up costs.Being located nearby Ucake, the supplier (referred to Resources requirements part) will conduct prompt delivery at lower costs in daily basis. 3. Resource requirements / mapping In order to offer satisfactory services to customers, raw materials and charitable resources are decisive in our business. The raw mater ials mentioned in Cost drivers part above will be purchased from Tan Nhat Huong, the only local firm supplying cream, operating in Tan Binh district, Ho Chi Minh City. The quality is as high as other foreign companies products.As Ucake and the suppliers locations are geographically close to each other, Ucake can decrease significant logistic costs. Ucake needs four people to run this business. One professional chef will bake the plain base cake and ordered cake. Two more amateur chefs will work as supportive take to heartants to help the main chef and to advise customers decorating cake. One person will be chartered as receptionist. For this job, as there is no complex calculation involved, a person with no background of accounting can also be recruited.People will be hired from the online press market (timviecnhanh. com), and Ucake will upload specific requirements of employees and interview the favorite candidates. 4. Investment size The primaryly financial investment must be at least 100,000USD in order to start and operate Ucake for first year. Below is the cost analysis for the first five years after opening Ucake. * Fixed cost Ucake will be opened on Nguyen Trai Street, District 5 by rent a two floored shop . The rental fee will be 1,000USD per month which will be totally cost 12,000USD for the first year of contract.Also, other costs to operate the business like electricity, weewee are calculated to be 167USD per month (2,000USD / first year). * Variable cost As the cakes are baked after receiving orders from customers, ingredients are considered as changeable costs. every costs related to bake process such as electricity, labor, ingredients are regarded as 100,000VND per cake. Assuming that Ucake produces 3,720 cakes per year, including two types of products based on the revenue analysis, the variable cost will be 20,000USD per year. * Semi variable cost Semi variable costs comprise two expenses net and marketing.The wage is for the four em ployees. The wage amounts for main chef, supportive chefs and receptionist are 200USD, 150USD and 100USD, respectively. In the initial year, monthly wage will be 600USD which adds up to 7,200USD of wage expense for the first year. Ucake will conduct marketing vigorously in the first year to present the differentiated services and gain customers awareness. The annual cost is estimated to be 5,000USD. * Non recurring cost Equipments like bake ovens, furniture, and shop service costs will be spent before launching Ucake shop. All the equipment costs are calculated approximately 50,000USD.Sum of the first years costs are 96,000USD. However, in case of not covering expenses by the revenue, 4,000USD is needed as a back-up fund when Ucake meets unexpected costs. Hence, the first investment cost should be 100,000USD to cover the whole first year and half of second years expense. The first investment fund of 100,000USD will be recovered at the end of third quarter in year 2. Even though the price of cake is cheaper than other consumer products like electronic devices or automobiles, huge profit margin of cake will allow the business to step up from survival to growth level. 5. Critical success factorsDuring the investment process, there are two main full of life success factors of sustaining Ucakes operations. First of all, one of the most vital elements for a bakery to accomplish is the role of the head baker. A head baker needs to have long time experience in baking and decorating cakes. Yet, this is still not enough. Cakes are quite attractive to many people, but customers have begun fussier about this kind of desserts over time due to changes of their perceptions about nutrition and safety of goods (Viet Bao Newspaper, 2005) thus, the head baker has to update consumers behaviors and apply ethods that are adequate with their demands. For instance, he can use fresh cream instead of butter cream to reduce the fat of the cakes topping cream for making buyers more sec ure as regards their health. In addition, he is in charge of planning and estimating the number of sellable cakes per day to verify profits for the bakery also encourages products sold within 24 hours upon baking and avoids surplus of stock. Another critical success factor of Ucake is the quality of customer services.As a bakery providing self decorated cakes, in order to cause the customers needs, it is significant to hire a group of staffs that meet the working standard for this new type of service. Basically, the staffs need to have limited knowledge about cakes basis and skills of decorating cakes for instruction whether their buyers cannot garnish themselves or need assistants. Besides, they are to support customers in providing them options of cake toppings shapes for their self decorated cakes, directing them to park vehicles, and make the shop atmosphere healthful and convenient for them.With those points, Ucake can expect to match the criterions of services and keep its customers satisfied. 6. seek analysis and management Among the risks, some distinguishing points strongly affect Ucakes exaggeration that need to be aware and administrated in terms of its business conception. The first threat that Ucake might face is that the idea of customer self decoration services can be imitated by others which is estimated with high chance.As being appeared at the maturity stage, products of Ucake are common in the industry, except that its services are developed to a different standard and have never been applied by other competitors. Nevertheless, although self decoration is new and unique compared to others, this concept does not require so many sophisticated progressions to implement the services in consequence, other bakeries, including existing and potential ones, can easily regorge Ucake or create similar serving styluss even if Ucake tries to defend its company via Intellectual Property Rights registration.Copying service is an unavoidable prob lem to Ucake still, Ucake would be the trailblazer in applying self decorated cakes for clients in the market, so it is an extremely bourgeois period for Ucake to deliberate its growth as well as gaining customer loyalty by performing satisfactory products and services once it is first publicized. Additionally, the moderate possibility of employees misbehaviors to customers throughout their serving mission might occur. During the business, employees have high responsibilities in making clients feel worthy with what they pay for the services and want to return to Ucake again.On the other hand, employees are sometimes negative effect of discouraging customers of using services due to their slow serving or bad attitudes, and this would be very dangerous for the bakery because customers have diverse options of bakeries to prefer. As a consequence, Ucake needs to spend a period of time training the employees carefully with some particular rules of the bakery before the stores launch to look forward to attaining effective services hearty its consumers.What is more, employees should be p tryd with rewards or other incentives whether they do their job well in order to increase their productivity in addition to Ucakes efficient services. IV. Future Action Plan 1. Sources of start up capital Ucake is a relatively small size in aspects of budget, establishment cost and labor wage. The business model analysis shows that Ucake requires at least 100,000USD as set up cost. There are three possible financial sources to raise the fund. * Angel investment Ucake will open a business plan presentation to potential angel investors to persuade them that it is a feasible business.Angel investors will receive corresponding amount of return related to their investment size. * Loan from bank Banks allow the Vietnamese to receive loan if credibility is guaranteed. Ucake will summit five years of financial budget and business plan to convince that Ucake is a trustable business. 50, 000USD is the amount Ucake plans to receive from the bank as a loan. * Financial supports from acquaintance four owners of the business are footrace their own family business and being successful. Ucake can be financially supported by their families. . Further information needed Ucake lacks legal knowledge about food market. As a result, the future operation of the bakery must be checked and advised by a integrity firm called TopicLaw. TopicLaw will support by providing standard of food and necessary licenses for Ucake to run the bakery such as sanitation of bakery, safety of equipments. Also, as Ucakes business idea is very easy to be copied, it should contact with consulting firm to protect the Intellectual Property Rights. The consultation will be about glaring registration.The Target market analysis shows that the targeted market is quite potential. However, Ucake must implement further surveys before opening to identify what kind of toppings and decoration style that the tar get market prefers. It is vital to run regular survey on customers feedback and preference after setting up Ucake in order to fend for competitive advantages in such dynamic food market. 3. Support needed Due to the fact that parents of the four Ucakes owners are successfully running family business overcoming economic crisis, they can be consultants of Ucake.External environments cannot be consistent as Ucake assume. Therefore, their parents may recommend direction of future operation and performance of Ucake. Excluding law firm and consulting firm which was mentioned in further information needed partition above, Ucake is looking forward to surviving and growing in the target market without further outside supports. REFERENCES Bao Moi 2009, Nhon nhip thi truong banh chao don Giang sinh, Baomoi, viewed 28 July 2012, lthttp//www. baomoi. com/Nhon-nhip-thi-truong-banh-chao-don-Giang-sinh/54/3636052. pigt Dan Tri 2012, Ngay cua me sort out dep van hoa phuong Tay di sau vao nep song Viet, Dantri, 11 May, viewed 28 July 2012, lthttp//dantri. com. vn/c130/s130-594592/ngay-cua-me-net-dep-van-hoa-phuong-tay-di-sau-vao-nep-song-viet. htmgt Dia Oc Online 2012, homepage, DiaOcOnline, Ho Chi Minh City, viewed 29 shocking 2012, lthttp//www. diaoconline. vn/sieu-thi/loc/-tp_tphcm-quan_131-diaoc_15/gt Hoa Le 2012, Thu hep khoang cach thu nhap giua cac tang lop dan cu, TapChiTaiChinh, twenty-fourth April, viewed twelfth noble 2012, lthttp//www. tapchitaichinh. n/Qu%E1%BA%A3ntr%E1%BB%8Bn%E1%BB%99idung/ViewArticleDetail/tabid/56/Key/ViewArticleContent/ArticleId/7989/Default. aspx Levinson, JC, Levinson, J amp Levinson, A 2007, Guerilla marketing easy and inexpensive strategies for making big profits from your small business, 4th edn, Houghton Mifflin Company, New York. 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VietnamBranding 2008, Fast food Viet bao gi o? , VietnamBranding, 25 June, viewed 20 April 2012, lthttp//www. vietnambranding. com/thong-tin/phong-su-thuong-hieu/4610/Fast-food-Vietbao-gio> World Bank 2012, Vietnam GPD per capita, TradingEconomics, viewed 12th August 2012, http//www. radingeconomics. com/vietnam/gdp-per-capita APPENDICES Appendix 1 Service Prototypes 1. Cakes baked and cream cover by Ucakes chefs. 2. Ucake provides options of toppings for customers. 3. Customers choose favorite toppings and pay at the counter. 4. Cakes and toppings are brought at customers tables. 5. Customers decorate cakes on their own or with the assistance of Ucakes staffs. Appendix 2 Ucake staffs job description Staff Function foreland chef The person who has long time knowledge and experience of working in the bakery industry.Typically, he holds good recipes of cakes and manages every baking step to ensure the cakes look stunning and tasty. Supportive chefs These chefs can be amateur and to assist the head chef in doing the baking process and help instructing customers towards self decoration services. They also direct customers in decorating cakes whether customers suggest. Receptionist Has a responsibility of managing the quantity of toppings, charging bills of customers and account the revenue daily to owners. Appendix 3 Direct and Indirect competitors analysis 3. 1. Direct competitors
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