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Dela Salle University-Dasmarinas College of Business Administration and Accountancy Marketing Department
MARKETING PLAN OF CHEESECAKE ETC
GRANT MARCO LABII Castillo, Paul Davalos, David Metro, John Cedrick Tropicales, Jerome
BSBA Major in Business Operations Management
October 16, 2013 Date Submitted
_________________________________________________________________ ______________________________________ ___________________________
A research submitted to Ms. Jhen Bermudo in partial fulfillment of the research requirements in Principles of Marketing. First Semester 2013-2014. De LA Salle University- Dasmariñas, Cavite
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I.
Executive Summary
The main thrust of this study was to make a marketing plan of Cheesecake Etc., an existing business started in 2001 in the Philippines on how this business may maximize profit and even of its owners’ equity. The researcher analyses the cases with their best effort. They try to make it sure that the plan is going to make is safe and will ensure maximum level of return for Cheesecake Etc. They keep it in mind that their calculation will help Cheesecake Etc. to take a decision that would cause optimum return or prevent losses. So, very precisely, the researcher attempted to suggest the best and safest strategy to specific issues of the marketing plan. In the analysis, the researcher concluded that most of their customers are at ages 21-30 years old mostly females (woman) with an average expenditure of Php300.5 per transaction and an estimated net income after tax for the year 2013 is around Php 1.6 Million only if the data gathered remains unchanged. If the sales increase by 10% the projected net income after tax would be around 1.7 Million for the year ended 2014. Moreover, if the situation in the data changes, Cheesecake Etc should consider the two factors which are the economic condition (e.g. Inflation rate, GDP, Law of Diminishing Return) and the firm risk to competitors. Notwithstanding, Cheesecake etc. should use an integrated marketing communication strategy (Through the Line) so that public may know the Cheesecake Etc whereabouts. Lastly in order for the Cheesecake total expansion is attainable, Cheesecake etc. should open their business shares to the public, maximize technology by having a website domain, and apply for international certificates. In fine the researcher would say that the calculations and suggestions depict the true picture of some business total investment scenario in the realm.
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II.
Current Marketing Situation Analysis
A. Industry Study:
Philippine cuisine is made up of variety of native and foreign dishes influenced by its trading partners and former colonizers (Alojado, 2010). Chinese, Spanish, Japanese, American, Malay, Indian, and Arab flavors greatly contributed to what it is now. From 1898 to 1946, American colonizers added another dimension to the Filipino food culture-speed and convenience. Within a generation, not only did Filipinos speak fluent English, they became advocates and consumers of American culture (Anonymous, 2013).
It may have been easy to acquire the taste of foreigners who occupied the country because basically, Filipinos are a food-loving people. Because of Filipino ingenuity, they were able to add a native-touch to these foreign dishes. Today Philippine Cuisine continues to metamorphose as new ingredients and cooking techniques, styles and methods find their way into the country (Doreen, 2010)
Traditionally, Filipinos eat home-cooked meals since these are viewed to be more affordable and healthier. However, since the early 2000s, packaged ready meals were more favored due to Filipinos’ busier lifestyles. Consumers no longer
have the privilege of time to prepare home-cooked food, and instead they just buy food from convenience store, carinderias, or from quick service restaurants. It is also observed that most Filipinos have adopted a westernized way of living (Euromonitor, 2012)
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Advancement Advancement in technology technology also influenced consumers’ habit when dining out.
Through the different social networking sites, consumers are able to share their photos and experiences on twitter, facebook, tumblr, etc. Food Blogs are also given much attention and because of these blogs, people are more willing to try new restaurants. They find exploring new food outlets less risky, thanks to the evaluation and comments of the food bloggers (Euromonitor, 2012)
Growth/ Decline Patters
The GDP of Philippine economy in 2011 is 3.7% which is slower than the accounted rate of 6.1% between 2009 and 2010.In line with the economic development in the country, consumer foodservice growth was slightly lower in 2011 due to some full-service restaurants that suffered from a weak global economy in 2008. Nevertheless, the recorded annual disposable incomes in 2011have been increasing with a growth of more than 4% from the year 2010. Likewise, the annual consumer expenditure per capita reached Php 73,741 in 2011, a 4.23% increase from the Php70,749 expenditure in 2010 (Euromonitor, 2012).
There has been a slight increase of inflation rate from 2.6% in May 2013 to 2.8% in June 2013, as the () indicates below. Upward changes in price can be felt on commodity goods especially on food items like rice, vegetables and fish (NSO, 2013). On the other hand, according to Taborda (2013) the unemployment rate increased by 7.5% in June 2013 this was caused by the loss of jobs in the agricultural sector due to unpredictable and extreme state of weather
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occurrences in the country. Therefore the misery index of the Philippines is 10.3% (calculated by adding the inflation rate to the unemployment rate) lower than the 2011 misery index recorded in Euromonitor
Restaurant Industry
According to Euromonitor International (2012) traditionally, dining out was either for family celebrations or for corporate meetings only. Yet, in the early 2000s it was observed that younger people started to hangout with friends while eating out. An average of Php4,014 per capita on dining out was recorded, based on Euromonitor’s data. Though there is an increase in the lifestyles of dining out,
there was a decline of 5% in spending since 2008.
To better understand the development of the restaurant industry in the Philippines, data from the National Statistics Office’s 2009 Annual survey of
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Philippine Business and Industry (2009) would be discussed. This survey talks about the fourteen (14) diffenrent sectors including the Hotel and restaurant Industry which is comprised of hotels, camping sites and other provisions of short-stay accomodations and restaurants, bars, canteens, and other drinking and eating places.
The graph below shows that there are a total of fourteen thousand nin hundred and ninety-eight (14,998) establishments found in the hotel and restaurants industry and eighty-nine (89%) of these are comprised of restaurants, bars, canteens, and other drinking and eating places while only eleven percent (11%) consist
of
hotels,
camping
sites
and
other
provisions
of
short-stay
accommodation.
(NSO Phiilippines, 2010)
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The table above shows that there is a 0.87% decreases in the share of food expenditure to total expenditure. However, NSO data shows that even with this decline, there is a 1.16% increase in the proportion of expenditure of food outside the home.
Census
data
also
confirms
this.
The
national
gross
revenues
from
accommodations and food service for the year 2010 amounted to PHP 209.6 billion with restaurants and mobile food services being the top contributor with Php 153.9 billion. Php 143.4 billion was acquired in 2009 showing the constant increase in food expenditure year after year. Therefore it means tha investing into the restaurant industry is still lucrative.
Types of Restaurants
According to Euromonitor 2012, there are six (6) types of restaurants found in the Philippines and these are:
1. 100% Home Delivery/Takeaway – a food establishment that prepares ood either to be delivered in customers’ homes or to be picked up by consumers
themselves. Andoks and BaliwagLechon are examples of this. 2. Cafes – this is a type of restaurant not only offering coffee and pastries but also different kinds of savory items like pasta and rice meals. Examples of these are Café Mary Grace, Banapple, and Sugarhouse.
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3. Full-Service Restaurants – this establishment provies food services to patrons who order and are served while seated and pay after eating These may sell alcoholic beverages, provide take-out services, operate a bar or present live entertainment, in addition to serving food and beverages. 4. Fast Food – or also known as quick service restaurants are food establishment which has a goal of serving food to customers with the smallest possible amount of time. Restaurants are considered Quick Service Restaurants if food are immediately served right after ordering in the counter. 5. Self-Service Cafeteria – this is a food establishment wherein customers choose from various dishes that were cooked beforehand. In the Philippines, this is called turo-turo (turo means to point) since customers literally point to the food they want to buy. 6. Stalls/Kiosks – indoor/outdoor fixed, prefabricated food service structures having one or more open sides that may be used to prepare, store, and/or sell food (NSF International)
Table 2 shows the number of customer foodservice outlets in the Philippines. In the 2011 review of Euromonitor, there is a 4.7% growth in the number of foodservice outlets due to the increase in investment from overseas Filipino workers. Within 2011, the
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number of consumer foodservice outlets reached over 80,000 with an average annual rate of 2%. The rapid growth of chained brands slowly invades on the independent consumer foodservice outlets making it difficult for independent establishments to compete in the industry
Table 3 illustrates the continuous increase in the number of foodservice outlets, the food service value, and in the number of transactions every year from 2006 to 2011. The strong growth is mainly due to the outlet expansion of fast food restaurants. From 2010 to 2011 a 0.76% or 600 increase is seen in the total number of foodservice outlet. Moreover, a 1.18% increase is recorded in the number of transactions from 2010 to 2011. Along with the increase in outlets and in number of transactions a 3.53% growth in foodservice value sales is observed.
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Shown in table 4 is the predicted number of outlets, number of transactions and value sales of the restaurant industry in the Philippines. By the year 2016, the value of sales is projected to rise by 1.13%. Number of outlets and number of transactions are forecasted to increase every year from 2013 to 2016. Café Industry
The Cafe/Bar industry is composed of four (4) different categories; namely Cafes, Bars/Pubs, Juice/Smoothie bars and specialist coffee shops. A global overview of Cafes/Bars in 2010 shows that cafes and bars are the key guideposts local culture everywhere they are found. It has been the third-largest category among the different restaurants types amounting to US $450 billion. The largest category belongs to the full service restaurants followed then by fast food chains (Euromonitor International, 2010). As the growing competition for market share continues to augment amongst the different categories, the fundamental advantage of Café/Bars operators over other categories is maintaining its status as an evolving stronghold of local drinking culture. Successful operators of cafes and bars are continuing to adopt the different elements of other categories such as full-service dining and fast-food chains. The beverage battleground has raised pressure on traditional cafes/bars as a result of new traffic streams and new consumers. The global overview of the Café/Bar industry illustrates that providing experience to consumers is key for thriving (Euromonitor International, 2011). Consumers all over the globe valued the importance of experience paired with product and service innovation; which is a key differentiator for brands. The Café Industry in the Philippines has been progressing throughout the years. Multinational coffee shop companies in the country have flourished since the year 1997. Some of these multinational coffee companies include starbucks Corp, Figaro Coffee
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Co, Coffee Beanery Ltd, Mcdonalds Corp. In the said country, cafes tend to serve coffee as opposed to tea. Local cafes offer locally sourced beans from Batangas and Benguet. However, majority of the cafes in the Philippines a lot only a small amount of coffee offering when compared to specialist coffee shops (Starbucks, Seattle’s Best,
Coffee Bean, and Tea Leaf) (Euromonitor International, 2012a). Moreover, cafes are more popular in serving a wider selection of food, in contrast to specialist coffee shops. Some examples of these cafes would be Café Breton, Café France, Bellini and Café Via Mare (Lonely Planet, 2013). Thus, it is prevalent that customers dine at cafes for eat-in transactions at different meal times instead of just ordering a beverage. According to Euromonitor, many Filipino consumers use cafes and specialist coffee shops as a place for studying, hanging out with friends, meeting business associates or for personal relaxing. With the vast-changing urban lifestyle in the Philippines, elements such as atmosphere, music and Wi-Fi internet access have encouraged product and service innovation throughout the café industry (Euromonitor International, 2012a) The majority of the cafes and bars domestically opt to expand through franchising as to allow expansion for companies and avoidance of investing added capital. Companies are more able to control risk and at the same time gain additional revenue from franchising. On the other hand, companies such as Rustan Coffe Corp (Starbucks Corp) and LJC Restaurant group (Café Adriatico and Café Havana), which provide higher quality control over their outlet standard choose to control all of their outlets and are not in favour of franchising. In the Philippines, domestic players that are mostly independently owned dominate sales of cafes. Many cafes in the country imitate chained concepts and usually tap into the higher target market segments , though others choose to lower their prices to attract
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more consumers. Café companies are most likely to complete by harnessing customer relations. Moreover, customer relations are proven to be a key factor to the success of a company (Mina, 2013). This is evident in companies such as Starbucks, Seattle’s Best and Coffee Bean and Tea Leaf, wherein loyalty is cultivated among their customers. Consequently, loyalty offerings have been an effective popular strategy amongst restaurants for attracting customers in the Philippines. Specialist coffee shops followed this strategy. A good example would be Coffee Bean’s Swirl Rewards Cards -a loyalty
card with a stored value feature and is issued by the Coffee bean and the Tea Leaf Philippines, Inc (Coffe Bean) According to international industry expert Bruce Miletto, “ it is always the small local cafes that change the game” Specialty coffee shops, both chained and independent has
flourished throughout the years. It has been more than just a fad. With specialist coffee shops leading growth in year 2011, both parties of chained and independent specialist coffee shops have maintained a good performance. Specialist coffee shops are aggressively expanding throughout the country with its growing number of outlets. These businesses are likely to continue targeting high traffic locations, which includes malls, airports, and hotels. There has been a boost in coffee consumption and sales because of companies that have shifted to business process outsourcing. The rise in employees working on dragging evening shifts in BPO companies has boosted coffee consumption. The expansion of the Busines Process Outsourcing (BPO) companies drove the augmentation of the number of outlets in the Philippines. BPOs usually operate on enduring hours and hire a large number of employees that are paid above average wages. The expansion of the BPO was a major growth factor that resulted to consequent rise in consumer disposable incomes. (see Table 4 below)
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Table 5 above indicates that the number of Specialist Coffee Shops outlets has been expanding throughout the years 2006 to 2011. There was a 23.5% increase in 2008, and then slowed down to a 4.5% increase in 2009, 7.2% in 2010 and was trimmed down to a 4% increase in 2011. However, chained cafes outlets have declined consistently by -9.9% in 2008, -7.8% in 2009, -2.01% in 2010 and -1.02% in 2011. The number of café outlets in the Philippines have been declining over the 2006 to 2011 period. Cafes are forecasted to perform poorly over the period of 2011 to 2016, with transactions projected to decline at an average annual rate of 1%. The poor performance is due to the urbanizations trend in the Philippines, drawing more sales towards recognized chains and keeping independently owned café chains struggling. Moreover, full service restaurants are also likely to pose as a threat to cafes since many of these also offer the essential products such as alcoholic beverage and coffee drinks. On the other hand, chained cafes are increasing in popularity along with growing market sophistication. Chained cafes have invested on providing ambiance and entertainment, which is in line with consumers who willing to pay slightly more on food and beverages for an enjoyable experience. The average spend per transaction in chained cafes are expected to increase 1% annually over the forecast period 2011 to 2016.
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Cafes are a type of restaurant that not only offer coffee but pastries and other types of foods as well like pasta and rice meals. Cafes are popular for eat-in transactions rather than just beverage transactions alone. In the café industry today, it can be observed tha coffee is always best paired with either food or dessert (Parcel Coffee, 2013) Pastry Shop Industry
There are wide variety of bakeries and pastry shops in the Philippines. Some of the most popular names in the bakeshop industry are Delifrance, the French Baker and Breadtalk. However, these are international bakeshop brands. Apart from these bakeshops and cafes, there have also been progressing bakeshops that are proudly Flipino-owned. These include Goldilocks, Red Ribbon, and Bizu Patisserie (Gonzalez, 2013) According to the final results of the Annual Survey of Philippines Business Industry, the total number of all manufacturing establishments in the formal sector of the economy in the Philippines was estimated at a total of 16,269. The manufacturing industry accounted for a total of 52.2% of the manufacturing establishments in the country. (see figure 3)
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Figure 3 above shows the percent distribution of all manufacturing establishments by industry sub-class in 2010. Bread, cakes, pastries and similar perishable bakery products registered with the highest number wit 3,308 establishment or 20.3% of the total. The bottled water and printing industry ranked nex with 1,090 establishments each (National Statistics Office, 2013) Kinds of Desserts
With the influence of western and neighboring countries, different types of desserts have entered the food and beverage industry in the Philippine Market. Listed below are the 8 kinds of desserts that made impact on Filipino consumers’ eating habits from
1980s to present (Orillos, 2009) 1. Macaron – it is light, baked dessert that can be presented as meringue-like cookies or small cakes. The word macaroon came from the Italian word maccherone or maccarone which means crush or beat. This meaning relates to the main ingredient of macaroon which is almond paste. There are a lot of variations of macaroons that differ from each other but what is common from their recipes are sugar and eggs (Lebovits, 2010)
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2. Doughnuts and Donut – Doughnut is a sweet, old style pastry. It is shaped like ring, made of dough and fried in fat. The shortened version of its name was already in the market since 1800s but it was then made popular by the American doughnut chain Dunkin Donuts in the 20th Century (Smith)
3. Croissant – it is a type of pastry that is popular for its crescent shape. Corissant is a light, buttery and flaky pastry made of puff pastry dough. These are very popular in France and are usually eaten during breakfast.
4. Ice Cream – it is a soft, frozen, delightful treat that became famous together with the widespread use of refrigerator. Due to a wider selection of ice cream including non-dairy versions, frozen custard and frozen yogurt (Moncel).
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5. Cupcakes – it is a small cake typically designed for a single serving hence the so called miniature cakes. They are sweet and come in flavours lilke red velvet, vanilla and chocolate. Cupcakes are very rich in eggs and butter and they always have frosting (Christensen, 2010)
6. Muffin – it is shaped like cupcakes, but unlike its cupcake cousins, Muffins teture is usually dryer ad denser. It is viewed to be a healthy dessert since it is not too sweet and is more likely to be stuffed with fruit instead of candy (Christensen, 2010)
7. Mochi – it is a glutinous rice cake pounded into small ball shape eaten with various condiments. Mochi originated from Japan and is similar to a Philippine dessert, suman. An innovation of the traditional mocha is mocha ice cream that has been a hit in Manila. It is simply a scoop of ice cream covered with sticky rice wrapper (Calvin)
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8. Cake – it is a sweet baked- dessert usually made for special occasions like weddings and birthdays. Cakes are made of refined flour, eggs, milk, sweetening and flavouring. It comes with a bread-like form. As years passed by, people have used the term “bread” and “cake” interchangeably (Orillos, 2009)
Most baked products go well with a cup of coffee. Among these are macaroons, donuts, bread, crem puffs, cupcakes, mochis, and cronuts. In 2001, Bizu Patisserie opened its store in Glorietta 4 and introduced one of its baked products, the Macaroon de Paris. While on the year 2006, Cupcakes by Sonja created a food craze among Filipino consumers with its cute, delicious cupcakes. Today, Bizu and cupcakes by Sonja still stand in spite of the intense rivalry in the industry and its high-ending pricing. During the year 2003, donuts have garnered the attention of Filipinos as the new “pasalubongbayan.” The donut craze started with Go Nut Donuts, own version of
the popular Krispy Kreme in United States. Years have passed by, donuts became a hit again last year 2012, with the arrival of J.Cos in the country (Orillos, 2009). People waited for long queues just to have an order of the fastest growing donuts and coffee chain in South East Asia.
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Throughout the years, food fads and trends have come and gone, and some captured the interest of dessert-loving consumers all over the Manila. Some trends have flourished for several years while others flopped within a small period of time. Some have even coexisted with the food trends from western countries like doughnut craze and cronut craze. Mochi craze and Milk Teacraze have flourished in Manila since 2012 whereas today, cupcake craze, donut craze, and cronut craze re still thriving in the food industry. B. Current Product/ Brand Situation History of Cheesecake
Many American believe that cheesecake originated in their country as a New York City delicacy somewhere around the 20th century. Surprisingly, Ancient Greeks have been creating cheesecake for thousand years before any American even tried to put their hands on the delicious indulgence. There are several publications indicating cheesecakes were the first created during the seventh and eighth centuries B.C. right on the island of Samos in Greece.
Historians believe that the cheesecake was served to the athletes during the first Olympic Games held in 776 B.C. The athletes ate cheesecakes to themselves the energy they needed to complete in such rigorous events. It is als serves as a wedding cake fr the bridge and groom. However, cheese making can be traced back as far as 2,000 BC., anthropologist have found cheese molds dating back to that period. In 230 A.D. , the first written recipe of cheesecake is created by Greek writer named Athenaeus which only uses simple ingredients like cheese, honey, and spring wheat flour (Culinary School Writers, 2013)
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When the Romans conquered Greece, they took hold of the recipe of cheesecake and modified it in their taste and called it the libuma. The Roman uses libuma on special occasions and as an offering a their temples to their god/goddesses. Marcus Cato, a roman politician, is known for creating the odest cheesecake recipe to the following: Great Britain, Scandinavia, and all Western Europe. Each country starts experimenting to create their unique spin on cheesecake using native ingredients in each region.
Although the original cheesecake recipe came from the Greeece, it has quickly adopted several culinary styles and variations along its journey to other territories. Consequently, the most popular of all cheesecakes was New York Style Cheesecake. In 1872, cream cheese was accidentally invented by William Lawrence, a New York dairy farmer, and instantly reinvented the way cheesecakes were produced (Bellis, 2013). In the 18th century it is when cheesecake started to be recognize in the United States as something we look for today. Arnold Reuben, owner of Turf Restaurant who specializes in sandwiches, was credited for developing the New York Ceesecak. Reuben began serving New York Cheesecake in his Turf Restaurant which quickly became a popular dish. New workers were in love with this dessert having a cheesecake all over the menu’s of many restaurants bragging that they serve the
best New York Cheesecake.
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Today, Cheesecake is still considered as one of the most popular dessert dishes in the United States, and across the country, though cheesecake started 4,000 years ago, or in the 230 A.D. No matter how one would slice it, cheesecake will always be a dessert that had stood the test of time. It is an ancient delight that will never go out of style with its creaminess and flavor. It is a favourite of all ages (Bellis, 2013)
The hype for cheesecake in the United States started in the 18 th century but there were no records found when cheesecake did arrive in the Philippines. However, it was believed that cheesecake were first to serve at hotels in their buffet. Nonetheless, the two oldest cheesecake stores in the Philippines are Cheesecake Etc. and Cheesecake Melliza which started on 2001 and 2002 respectively. Both stores serve cheesecakes as their main product. In 2003 cheesecake, topped gourmet magazines annual survey of favourite desserts (Sison, 2003)
Cheesecake Etc. started in the Philippines when Richard Go brought this Canadian franchise to the country in the year 2001. The first branch was opened in Greenbelt, Makati, with the help of his Canadian friend as they pursued their dream to run a restaurant. Although Cheesecake Etc serves scrumptious desserts for those who have a sweet tooth, and they also offer guilt free desserts for the health conscious who cannot resist their craving for sweets (Plaza, 2008)
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On the other hand, love for sweets is what inspired Melvyn Isidro to open the store named Cheesecake Melliza in the year 2002. He opened his first branch at Kamagong Street, Makati City which also serves as their commissary store. Their cheesecake recipe originated in London but they added some flavours that match the taste and budgets of the Filipinos. Cheesecake Melliza also offers sweets that cater to diabetics and dieters (Corporal, 2005).
Based on Cheesecake Etc.’s Facebook page, they started having sales promotions just in 2011. In 2011 alone, they had four promotions which are the “Me and my Cheesecake” Photo Contest which was repeated three (3) times during the year and the
Metrodeal promo. The “Me and my Cheesecake” Phot contest was promoted in May,
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August, and October. Customers who brough vouchers were entitled to a 50% off on any 8” whole cake.
In 2012, Cheesecake Etc. had promos for Fathers Day and Mothers day. Customers just had to like the Facebook page of Cheesecake Etc., and print the father’s day promo for them to avail of the 20% off on the Meiji Chocolate Che esecake for Father’s day and 20% off on the Pink surprise for Mothers Day. In June 2012, they also offered the Cake O’clock Promo wherein customers get 20% on the whole cakes from 8:30pm until
closing time. In August, they launched tow combos which are perfect Match, a slice of Belgian Double Cream and brewed coffee. To take advantage of the holiday season, Cheesecake Etc. Metrodesl offering any 8” whole cake for Php597. Metrodeal was the only means of promotion in 2013. From January to July, Cheesecake Etc. offered discounts not only on their cakes but on their other menu items as well. Allday breakfast was also offered from July 2013 up until the present.
C. Competitive Situation
For the competitive situation for the Cheesecake, the researchers’ analyses its competitive position using Porter’s Competitive Strategy Theory. According to Redmond (2009), Michael Porter’s theory is based on an analysis of a company’s
competitive position within its environment, using the Five Forces’ that drive competition. These forces are the relative strength of buyers or customers, the relative strength of suppliers, the relative ease which potential new competitors can enter the market; the potential availability of substitutes; and rivalry between competing firms.
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Strengths of Buyer
In terms of other competitors of cheesecake Etc. 10% from their customer said that cheesecake Etc. as their top of mind brand while 5% chose cheesecake Etc as other mentioned brand. 59% recognized the brand while 15% were totally unaware of Cheesecake Etc. asking them how did they know about cheesecake, 33% of their customers gained knowledge about cheesecake Etc through malls The most common order in the pastry shop/ bakeshop the customers last visited is cake with 68.21%. According from the survey 59% of their customers commonly order slice cake in Cheesecake etc. while only 17% of the respondents buy a whole cake in Cheesecake etc. The most common reasons why the customer go into a pastry shops because of an occasion (32%), they crave for desserts (24%) and for them to chill out (14%) Almost 40% of their customers pay Php226-Php375 per transaction while 31% pay Php75-Php225. Their customers visited Cheesecake etc. atleast once a month (33.33%) and said they are likely to visit again (73%) Thus, no wonders why the customers is patronizing Cheesecake Etc compared to its competitors (56.57%) (For the reference please proceed to the appendix) Strengths of Supplier (Cheesecake Etc)
Cheesecake is one of the most ancient product in the history. Dated back to 230 AD by a Greek writer named Athenaeus wrote simple ingredients of Cheesecake like cheese, honey, and spring wheat flour. Consequently the most popular of all cheesecakes was New York Style Cheesecake and adopted here in the Philippines in the year 2001 was the Cheesecake Etc. first branch in Greenbelt,
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Makati with the help of his Canadian Friend as they pursued their dream to run a restaurant. Today Cheesecake is still considered as one of the most popular dishes. No matter how one would it, cheesecake will always be a dessert that had stood the test of time. It is an ancient delight that will never go out of style with it’s
creaminess and flavour that is favourite of all ages. Cheesecake Etc. with lots of branches have already established its reputation in the Philippines due to the following: A. taste and quality of products (66.67% rated as very good) B. Variety of Foods (53.33% rated as good) C. Value for Money (46.67% rated as very good) D. Speed of Service (53.33% rated as very good) E. Cleanliness (46.67% rated as very good) F. Overall Ambiance (43.33% rated as very good) (For the reference please proceed to the appendix) Availability of Substitutes
Cheesecake Etc offer a wide range of food varieties that is good for breakfast, lunch and dinner. Aside from selling deserts Cheesecake also sells rice meal and beverages such as coffee and/or shakes. The Cheesecake core competency is the cake slice with an average of 59.42% followed by the whole cake (17.39%) the third is coffee (20.29%) and lastly the rice meal and shakes (both 1.45%)
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Strengths of Competitors
Brand Name
Strenghts
Conti’s 19
Pastry and Bakes
Red Ribbon
Pastry and Bakes
Goldilocks
Pastry and Bakes
Bread Talk
Pastry and Bakes
French Baker
Pastry and Bakes
Sugar House
Pastry and Bakes
Bannaple
Pastry and Bakes
Mary Grace
Pastry and Bakes
Starbucks
Coffee
Coffee Bean & Tea Leaf
Coffee
Seattle’s Best
Coffee
Figaro
Coffee
Bo’s Coffee
Coffee
UCC
Coffee
Gloria Jeans
Coffee
Tully’s
Coffee
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Rivalry of Competing Firms
Cheesecake Etc, has a lot of competitors based on categories In terms of Coffee shops, Starbacks won the title as the top of mind by the consumers with an average of 78% followed by Coffee bean & Tea Leaf (27%) while Cheesecake comes last from the consumers top of mind (0.83%) In terms of Pastry shops and bakeshops, Red Ribbon is the top of mind brand having 27.27% followed by Conti’s and Cheesecake Etc tied in 2
nd
place having a
15.7% each III.
SWOT Matrix
Legend: Facts & Data - Analysis
Opportunities Strengths
Based from the survey of 30 respondents, the data shown that Cheesecake Etc. rank as two from the question of "If you're aware of pastry shops/bakeshops, what pastry shop/bakeshops are you aware of? According to the said survey using convenience sampling that "Cheesecake Etc." is one of the top three brands tried by the respondents. Cheesecake Etc. offers different kinds of variety namely; cake slice, coffee, rice meal, shakes and whole cake. - Taking advantage of selling different variety of foods since Cheesecake belongs to the top 3 in the level of awareness of the market They attain the wants of some Filipinos. They catch the students’ healthy habit and provide a healthy lifestyle. Most of them uses cheesecake on birthdays. It will help them to gain more consumers and help the cheesecake to grow even more. - Taking advantage of the Filipinos culture.
Threats
-
With the influence of western and neighbouring countries, different types of desserts have entered the food and beverages industry in the Philippine Market and one of them is the Cheesecake etc. started on 2001 that serve scrumptious desserts for those who have sweet tooth and offer guilt free desserts for the health conscious who cannot resist their craving for sweets Rivalry of competitors and duplication of Cheesecake products in the Market with same quality and taste.
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For every celebration (e.g. Birthday, Anniversary, Monthsary, Valentines day) there is always a cake on their table Food blogs are given much attention and because of these blogs people are more willing to try new restaurants. On November, 2012, Cheesecake started to have a delivery via quiickdelivery.com.ph - Cheesecake should maximize the use of their websites and blogs for advancement of technology also influenced consumers’ habit when dining out. Cheesecake Etc. got only 9.89% in the most frequently mentioned by the respondents regarding on whose or what pastry is on top of their minds. Only 38% of the respondents stated that they know about Cheesecake Etc - Opportunity to have an advertising campaign that would reach every Filipino so that many people would know and appreciate that there is Cheesecake open for the market.
Weaknesses
-
Majority of the respondents from the survey rated Cheesecake Etc. variety of food only as good (13.33%) while only 10% for the excellent in variety of foods. Most of them said that they visited Cheesecake Etc. once a month followed by once every six months Cheesecake should take consider the Law of Diminishing Return to avoid Diminishing Marginal Utility
The Gross Domestic Product (GDP) of Philippine economy in 2011 was 3.7& which is slower than the accounted rate of 6.1% between 2009 and 2010
In line with the economic development in the country, consumer food service growth was slightly lower due to some full service restaurants that suffered from a weak global economy in 2008. There has been a slight increase of inflation rate from 2.6% in May 2013 to 2.8% in June 2013 as show from the economic figures.
Unemployment rate increased by 7.5% in June 2013,
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-
IV.
If GDP went down, there was a weak global economy, there were lots of unemployed meaning many people can’t afford to buy Cheesecake Etc. that resulted to Cheesecake losses or less revenue.
Goals and Objectives
Generally, Cheesecake Etc. seek to lead the industry by instilling pride in their people, creating long-term customer relationship and lastly ensuring that Cheesecake Etc are the superior in catering Cheesecake and other variety of products globally. 1. Specifically, Cheesecake Etc. cater products that would reach customer obsessity in the market place 2. Maximizing advertising campaign, Sales Promotion and Public relations program that would attract the customer based on their culture 3. To be the leading value food chain not only in the Philippines but also internationally V.
Marketing Mix Strategies and Programs
A. Market Targeting Demographic Characteristics:
In terms of gender and from this graph, the researcher can see that most of the respondents inside the store are Females (56%) followed by Males (44%)
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In terms of age range, this graph shows that 40% from the costumers comes from the age range of 26-30. While 18% is from the range of 21-25. Using this data the researcher analyses that the target market of Cheesecake etc. mostly are young adults ages 21-30 years old
B. Product Development/ Innovation Program a. Unique Selling Proposition
The USP of Cheesecake is to provide high quality variety of foods to serve scrumptious desserts for those who have sweet tooth and offer guilt free desserts for the health conscious who cannot resist their craving and offer sweets that cater the diabetics and dieters b. Product Positioning
Cheesecake Etc. is the leading brand who introduces Cheesecake in the Philippine Market since 2001. It is the pride of Cheesecake Etc. to be the best shops who offer Cheesecake foods that is enhanced and fully developed. Lastly Cheesecake Etc. should always be ahead and superior in producing globally competitive cheesecake products in the Philippines. c. Product Features
1. Cheesecake Etc. is the only shop who offer premium high quality cheesecake products in the Philippines added some flavours that match the taste and budgets of the Filipinos
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2. Cheesecake Etc. offer sweets and foods that cater the diabetics and dieters 3. Cheesecake Etc. offers dessert made with sweetened soft Cheese mixed with cream and eggs on a cracker-crumb or pastry base with added ingredients for health conscious people C. Pricing Program
Microeconomics suggests a way of determining prices that assumes a profit – maximization objective. This technique attempts to derive correct equilibrium prices in the marketplace by comparing supply and demand.
Cheesecake Etc. are in Pure Competition. A market structure with so many buyers and sellers that no single participant can significantly influence price thus Cheesecake Etc. must set a price for their foods that generates sufficient revenue to cover the cost of producing and in marketing the foods offered.
A good place to start is to look at the cost of production. Cost of production included all of the cost then establish a profit goal for the product taking consideration of the 12% VAT in the Philippines. Then, translate all the information into the Cheesecake Etc. price expectations.
Filling up the price spreadsheet below so that the researcher may determine the pricing goal of a specific product of Cheesecake Etc assuming that the computation were accurate based on the actual price of Cheesecake Etc. in the market.
Legend: PC = Production Cost TAX = 12% VAT mandated by law MP = Mark –up Price (10%)
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D. Sales and Distribution Program
Policies
1. Cheesecake Etc. will not be liable for any losses or any untoward incidents that is beyond Cheesecake Etc. responsibilities
2. Exchange of orders shall be permitted by the Cheesecake Etc. only if the foods are spoiled within 20 minutes of purchased, or still in a good condition without defects. Beyond that, exchange of orders may not be accepted
3. Cancellation of orders may be accepted before the food not yet delivered to the final costumer or is not delivered on time. Beyond that, customer ordered the food may force to buy the foods whether he/she accept the food
4. Gift Certificates and other coupons can be accepted at any Cheesecake Etc branches but are not convertible into cash
5. For more complaints, queries, or information regarding policies don’t hesitate to ask with this website www.cheesecake-etc.com
Sales Target or Geographical Areas
To be able to generate sales, cheesecake etc. will put the right product in the right location and at the right time most likely in the Cities or Industrial places like Makati, Quezon, & Manila.
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For the benefits of people who wants to buy Cheesecake Etc. products but located far from its location, Cheesecake etc. may establish E-commerce online buying and selling of products however delivery may be added as charge from the base price of the purchased products. E . M a r k et i n g C o m m u n i c a t i o n s Pr o g r a m
1. Advertising Program Objectives:
Advertising is a form of commercial mass communication designed to promote the sale of Cheesecake Etc. products and services. To have an advertising campaign designed to advertise Cheesecake Etc. that employs an intentional and carefully coordinated series of marketing tools in order to reach the target audiences. Creative Approach:
As seen on the above chart, the types of advertising campaign are the alternatives for the Cheesecake Etc. to promote their products and services to the customers.
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Cheesecake Etc. are more on below the line (BTL) rather than Above the line (ATL) marketing strategy. Cheesecakes Etc. wants a direct communication to towards its niche market by means of Emails, blogs, and social networking sites. However, having a niche market is not good all the time thus Cheesecake Etc. should integrate the above the line and below the line in order to create a through the line or integrated marketing strategy and be able to advertise it down to the public market who do not know who, what, and how cheesecake Etc. all about considering the budget (as much as possible not costly) in using those advertising campaigns. Material Requirement
The following recommended alternatives can be used by the Cheesecake Etc. to promote their products to the public are the following 1. Fliers: Creating Cheesecake Etc. to advertise its products is simple, inexpensive,
and typically used by individuals or businesses to promote their products or services. Fliers, along with postcards, pamphlets and small posters, are forms of communication for people who wants to engage to public 2. Store Signage: It is the most important ways to convey your message to your
customers. Your store name, promotions, pricing, and product information, may all be conveyed through signage. On the other hand having an In-store advertising gives the store an attractive display that draws attention to the new and existing product. 3. Sales Talk or Word of Mouth Advertising: This form of promotion is one of the most credible and priceless assets of any business. Even if business owners can't buy word of mouth advertising, they can encourage their customers to tell their friends and family about the great product or service they purchased
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4. Internet Technology: The most efficient and effective means of advertising campaign without any cost aside from the internet cost per month. This includes social networking sites, food bloggers, and sending of email to the expected customer also used for updates. Other Advertising Ads
Cheesecake may use the other alternatives such as TV commercials, Radio Broadcasting, Press Conferencing, News Paper and Magazine Advertisement however these are much costly compared to the first one. Nevertheless It is much better to invest higher cost to have a higher revenue rather than to invest money at low cost having a smaller amount of revenue. And that is all about being Risk Averse. Advertising Program Estimated list of Expense and Scheduling
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2. S a le s P r o m o t i o n :
The Sales Promotion Program is one of the seven aspects in promotional mix. It is done so that Marketers could gain advantage from its competitors by attracting the consumer’s with its sales promotion, thus resulting into increase in demands. It could be
directed towards retailers, customers or sales staff, depending on whose target the marketers are aiming to attract. Sales promotion can be divided into two broad categories- Consumer Sales Promotion and Trade Sales Promotion. Cheesecake Etc. is classified as the Consumer Sales Promotion because it sells its products directly to the public unlike in trade sales promotion sells its product directed to the wholesalers and retailers and resell it to the public. Consumer sales promotion can be divided into National and Local. National is aimed at consumers throughout the entire country. It usually attempts to create awareness among the public of a product or service, or it tries to build loyalty to a product or service. On the other hand is aimed at informing people in a particular area where they can purchase a product or service.
The sales promotion type made by Cheesecake Etc was specifically done for consumers. It is so that they could match the tastes and budgets of Filipinos as well as keep up to tr ends via promoting through social networking as seen with their “Me and My Cheesecake Photo Contest” Promo in May 2011.
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Sales Promotion budgeting and Scheduling:
3. Public Relations Program Objective:
To create, develop, and carries out policies and programs to influence public opinion or public reaction about an idea, a product, or an organization to build prestige for an individual or a group and to promote Cheesecake Etc. products to the public Strategies 1. Institutional Advertising: It seeks to create favorable impression of a business or
institutions without trying to sell a specific product. This type of advertising is designed solely to build prestige and public respect.
It also trying to build
reputation. As a result, there is more value and greater efficiency in building a brand image for the Cheesecake Etc. itself. If Consumers learn to have a high
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regard for the company, then they are more likely to have a favorable to cheesecake etc. products rather than to its competitors 2. Customer Service Hotline and Websites: It seeks to build a long term customer
relationship by listening complaints, suggestions, and feedbacks whether its via telephone or emails. It also ads linkages and opportunity to give updates if there is a promo, discounts, or new products to be launched 3. Loyalty Awards: Part of the company’s goodwill is to have a loyalty awards to its
customers. It may be via cards through points, gift certificates, and others that might motivate customers to buy more products and to lessen the effect of the law of diminishing return. 4. Smoke Area: People who loves smoking while drinking coffee have already a
place by having a smoke area zone. A separate area for smoke-user customers. 5. Availability of Parking lot and Boosted Wifi : While customers are purchasing
products, it is not a hassle for them to search for the availability of parking lot. In addition, while having a glass of coffee, they could also have an internet surfing doing their job inside Cheesecake etc. Public Relations Program Budgeting and Scheduling
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VI.
Investment Plan
As the Data said that majority of the customers (40%) pay cheesecake etc. at ranges of Php226 –Php375 per transactions. To get a definite amount the researcher uses the class mark. According to Reyes (2007), Class mark is the midpoint of the class interval where the observations tend to cluster about. P226 is the Lower Limit (LL) while Php 375 is the upper limit (UL). Using the formula of [( LL + UL) /2 ] the answer is Php300.5 per transaction. Using these data the researcher would assume the sales revenue below
Assuming that Cheesecake Etc earn Php 15, 025 during regular day while Php 30, 050 during peak season. The researcher would like to convert the income per day into Income per Year in order to determine the Cheesecake Etc. Annual Cash Inflows.
Using the data above assuming that the annual Cash inflows of Cheesecake Etc. would be Php 7,227,025 and this data may serve as an input in finding the Cheesecake Etc. income statement year ended 2013.
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If the data given remains unchanged the projected income statement for the Cheesecake etc. for the year ended 2013 can be seen below
Assuming the data remains unchanged, using the quantity sold per year as stated in Notes 1. The researcher may can now determine the Cost of good sold in Notes 2.
Since Cheesecake Etc. is more in Below the Line Advertising, the company expend money more on promotion and public relations rather than in advertising (ABL). With these data, the expected Selling Expense of Cheesecake can be seen below
Note 4, focusses on the general administrative expenses of the company. That includes the salary and other expenses given by Cheesecake Etc. to their employees and general expenses.
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Since the Note 1 to Note 4 was already completed, the summary of income statement of Cheesecake Etc. can be seen below
Therefore the Net Income after tax of Cheesecake Etc. is 1.6 Million for the year ended 2013. VII.
Estimates of Profitability
Since the Cheesecake Etc. is more focused on below the line rather than the above the line, why not Cheesecake Etc. be more focused on the through the line marketing strategy since some of the people do not know what is Cheesecake whereabouts. Although these may incur additional cause in terms of Advertising however Cheesecake Etc. may gain more revenue if the company adopted the through the line marketing strategy. The sales will increase in 4% every year assuming that the price per transaction remains unchanged
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Synthesis:
VIII.
Evaluation of Results
The marketing plan reveals the following findings and conclusions and made the researcher come up with sets of recommendation The following major findings have been identified: 1. Based from the survey, the customer can be found inside the store are 56% Females while 44% are males 2. According from the survey 59% of their customers commonly order slice cake in Cheesecake etc. while only 17% of the respondents buy a whole cake in Cheesecake etc.
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3. Based from the survey, in terms of age range, 40% from the costumers comes from the age range of 26-30. While 18% is from the range of 21-25. 4. As the Data said that majority of the customers (40%) pay cheesecake etc. at ranges of Php226 –Php375 per transactions. In the light of the abovementioned findings, the following conclusions a re drawn: 1. Most of the customer of Cheesecake Etc. are female rather than of males 2. The core competency of Cheesecake Etc. is slice cakes rather than whole. 3. The range years of Cheesecake Etc. are from ages 21-30 years old 4. Using Class Mark in Statistics, the average expenditure of Cheesecake Etc. per
transaction around Php 300.5 5. The estimated Net Income after tax for the year 2013 is Php 1.6 million if the data
and situation remains unchanged In the light of the conclusions arrived at, the following recommendations are suggested: 1. If the situation in the data changes, Cheesecake Etc. should consider the two factors which are the economic condition (e.g. Inflation rate, GDP, Law of Diminishing Return) and the firm risk that changes 2. Cheesecake Etc. should use the Integrated Marketing Communication Strategy Approach particularly in Through the line (combined ATL & BTL) so that public may know the whereabouts of Cheesecake Etc. in the marketplace 3. Cheesecake Etc. should maximize the use of Technology, must have its own website domain (Cheesecake Etc. Philippines) serve as for building customer relations and also for E-commerce purposes
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4. Cheesecake Etc. should open their business market shares to the public in joining to the Philippine Stock Exchange for business expansion and maximization of Cheesecake Etc. wealth and profit 5. Since Cheesecake last for a long period of time, it is now time that the company should involve to some international standards used for competitive advantage like the ISO 9001:2008 (Quality Management System) and ISO 22000:2005 (Food Safety Management System) In fine the researchers should say that the calculations in the different sections of this analysis depict the true picture of the total investment and managerial business scenario in the concerned issue in making marketing plan thus 1. The result of this marketing plan be disseminated to different Cheesecake Etc. branches. Cheesecake Etc. Marketers can easily change the decision complying with the changed situation just having a glimpse on the analysis that the researcher forwarded 2. Dissemination among all marketing students to be able to have an extension studies and additional recommendations based upon their own marketing plan. 3. Further studies involving other type of demographic variables, financial variables, tools and techniques to be applied in making a marketing plan. BIBLIOGRAPHY:
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