The potential market for pancakes in retail stores.

Abstract

The purpose of this research is to identify the potential market for pancakes in retail stores in Thailand and its key success factors. The past research only focused on the sale of pancakes in the restaurants and/or dessert parlors. Thus, this study mainly gathers primary data using both quantitative and qualitative approaches. The quantitative and qualitative data research obtained relevant data from 252 and 16 respondents respectively by means of questionnaires and focus group interviews. Lastly, the researcher analyzed data using content analysis technique. In terms of marketing 4Ps, the study has found that the product should have two flavors: original and chocolate. The place or distribution channel is modern trade retail stores with Tops and 7-Eleven being the two most-visited retail chains. The packaged pancake should be priced at 35-40 Baht per unit; and interestingly, promotions are of no significance to the target consumers at all. In terms of motivations to buy, the study has revealed that the three most important factors that motivate consumers to buy the product rank from “Product Quality”, “Price”, and “Brand”, respectively. “Promotion”, in this regard, has the least importance for potential consumers, and thus should be minimized. This study has identified and explained all the key factors influencing consumer behavior when buying pancakes or snacks in the market. Although promotions are not so important in this matter, building product and brand awareness is very essential in making people aware and buy the product off the shelf for trial during the introductory stage.