Goldiluck

I. Case Background

Goldilocks Bakeshop Inc. was founded by two sisters, Milagros and Clarita and their sister-in-law Doris. Then they decided to open a small bakeshop along Pasong Tamo Street in Makati. Their other sister, Maria Flor, suggested that they name the enterprise "Goldilocks", after the character in a fairy tale “Goldilocks and the Three Bears”. It was intended to make it easier for children and their mothers to remember the bakeshop's name, and also because it suggested luck and prosperity.

Little did they know that this business would flourish though hard work, dedication, and an uncompromising commitment to total customer satisfaction, Goldilocks is now the largest Filipino-owned bakeshop chain in the world. As a true global brand, it has expanded to more than 420 stores in the Philippines and overseas markets, and now employs a workforce of over 2,000 people. Likewise, the opening day total sales of P574 back in 1966 have multiplied thousands of times over.

Perhaps more impressively, generations of Filipinos consider Goldilocks not only as a brand, but a time-honored family tradition. Now celebrating its 47th year, Goldilocks continues to strengthen its position as a genuine Filipino Icon.

Goldilocks Bakeshop Inc. is an entrepreneurial success story that started in 1966. They captured the hearts of the Filipinos with their “thoughtful” campaign and various other marketing strategies. The year 1995, appointment of ex-San Miguel executive Winston Marbella, saw to the professionalization and aggressive expansion of the company. A few years after in 1997, Asia suffered a regional crisis that caused an economic slowdown. Companies are getting tighter as much as the consumers’ hold on their money. Agnes Buendia, marketing manager of Goldilocks, is to propose a marketing budget for the next two years that would be appropriate given this situation.

II. Time Frame

The time context of the case study in October1998 pointed out a bleak economic scenario...