Sommersemester 2020 - Dora’s Cheesecake
An unbelievably tasty Project
Dora’s Cheesecake aims to sell the best cheesecake one has ever tasted. The founder, Dora Hably combines traditional Austrian baking artisanry with eco-sustainable business goals: placing hand-made, fresh cheesecakes on the Viennese and Austrian market with the goal of fighting against food-waste. As a one-person company using co-working kitchen gives the opportunity for a better supplier network establishment while being involved in shared economy and using its advantages for micro-businesses. Dora’s cheesecakes can be directly ordered in the online shop with pick-up and delivery option in Vienna.
Goal of the Project
The company was founded beginning of 2020, with original start of production in the beginning of April 2020. Despite the COVID-19 restrictions, production has started as planned with immediate break-even conversion within the first two months. The aim of the project was to gain a deep insight into the industry and the Viennese market with the definition of a pricing strategy. The outcome defines the most efficient marketing strategies and the target groups of Dora’s Cheesecake. The business plan sums up the business development strategy up to 3 years from foundation and gives the chance to acquire financial funding for a future shop opening.
The team conducted extensive primary and secondary research. In order to get to know the potential customers, a survey was formed to gain more insight about online ordering behavior, delivery preferences as well as price sensibility. Through databases a review was established for a better understanding in the industry of baked goods, which has a long tradition in Austria. The business plan reflects, among others, on a market and industry analysis, acquisition and retention of the target groups, detailed review of online marketing strategies, and an extensive competitor analysis. Lastly, a financial plan for the next 3 years was created based on the company’s goals and the existing data from April and May 2020.
The project research and its outcome are the base of further operations. Considering all aspects, three main target groups were identified and further defined. Based on the survey, a pricing strategy was developed that attends to customers’ willingness-to-pay but still reflects the superior quality of the cheesecakes. Recommendations on online marketing campaigns help to acquire and build the exact target groups, while proposed referral programs and word-of-mouth marketing help to reach out to further potential clients. Furthermore, through tasting events, potential customers have the chance to taste the exclusive cakes in an appealing ambient before they decide to buy a cake online. At the end of the semester, all these findings were consolidated into one 44 pages business plan.
Carola Wandres, M.Sc.
Richard Olbrecht, M.Sc.