BENCHMARKING: Red Ribbon vs Goldilocks

INTRODUCTION
Baking started in the Philippines through the influence of China and the Chinese people.
They are the ones which took the initial baking ideas and thoughts with them when they went to
the area spreading word of what is new and what they can use to improve their standard of
living. This has adapted over time and now there are more and more baking methods which are
being used in the Philippines to ensure that their food remains tasty and that they are able to
carry
on
certain
traditions.
Goldilocks Bakeshop and Red Ribbon bakery are some of the longest running bakeries
founded in the Philippines. Goldilocks is considered as the first bakery to service the Filipino
people with premium, quality cakes and pastries until Red Ribbon came into the picture. On the
other hand, Red Ribbon bakery is known as one of Jollibee Foods Corporation's growing fast-food
chains.

ABOUT THE STORE

Tagline: Whatever the celebration, its more beautiful with a Red Ribbon.

Red Ribbon started business in 1979 at Timog Quezon City, and introduced cakes and
other specialty products in the Philippine market.
In 2005, Jollibee Foods Corporation acquired the company and brought the store to a new
phase with its new programs on franchising, operations, promotions, etc.
Red Ribbon is geared towards bringing families and friends together with its specialty
cakes and products.

Tagline: 'Youre the 1

Goldilocks!

Goldilocks started in 1966 at Pasong Tamo by two sisters and their sister-in law. Having
different skills they created Goldilocks products with chiffon slices and cakes for special
occasions.
The company has now made Goldilocks as a global brand strategizing regional and acting
local. They have associated themselves well with the Filipinos and are now recognized as
part of the culture of being Pinoy.
The brand associates to Filipino values thoughtfulness, care, and love for family.

CUSTOMER PSYCHOGRAPHICS

Red Ribbon customers buy pastries such as

mamon, ensaymada, special cakes, and some
of them just dine there.
They buy the bread/pastry products for
pasalubong and gifts for visiting Red Ribbon
people, and the whole cakes and rolls for
special occasions.
Red Ribbon customers stay 10-25 minutes
buying bread roaming around the area looking
for things to buy Diners stay around 15-30
minutes dining there. They stay and seem to
rest for a while.

Goldilockss customers buy bread and pastries

such as mamon, ensaymada, cake rolls, not so
much specialty cakes

Goldilockss customers stay a little shorter

around 10-15 minutes both when buying bread
and they seem to already know what they like
to buy.
Diners also take less time 10-15 minutes and
there seems to be less talk and eating is not
done in a leisurely manner

CUSTOMER

Red Ribbon and Goldilock's customers are 20s and above.

Red Ribbon - Mix of customers and almost equal percentages of male and female.
Red Ribbon - Clients are mostly upper classes A, B and C.

Goldilocks - Mostly female customers although there were a few young men.
Goldilocks - caters more to the masses but also reaches the upper Class C.

ESTABLISHMENT

Menu Offerings
Both Red Ribbon and Goldilocks are bakeshop and restaurant.

Red Ribbon offers more westernized food choices with just a few Filipino
dishes included.
Some example of it's meals are Salisbury Steak, Spaghetti, Palabok, Chicken
Lollipops, Tocino, Bangus ala pobre, etc.
Goldilock's meal offerings are more Filipino dish-oriented with alittle western
and Chinese influence.
Some example of meals are kaldereta, dinuguan, spaghetti, dimsum, halohalo, noodles, etc.
Red Ribbon, which is mainly a bakeshop, offers pastries like mamon,
ensaymada, sweets a wide variety of specialty cakes and rolls.
The store also offers made-to-order and themed cakes.
Goldilocks offer pastries but on a wider variety aside from cakes slices, bread
and common pastries such as mamon, ensaymada, puto, cassava cake, etc.
The store also has themed cakes.

Price

Red Ribbon is more expensive as compared with Goldilocks.

Mamon - P20 (Red Ribbon) , P19 (Goldilocks)
Half Rolls - P165 - P215 (Red Ribbon) , P160 - P190 (Goldilocks)
Whole - P275 - P330 (Red Ribbon) , P255 - P290 (Goldilocks)
Specialty Cakes - P350 - P700 (Red Ribbon) , P300 - P550 (Goldilocks)

Level of Service
Both have a fast food type of service.

Red Ribbon serves food using silverware utensils and serve it in style.
15mins./meal
There is more of a restaurant experience in Red Ribbon.

Goldilocks uses a smaller plates, plastic spoon, and forks and cheap
disposable plastic glasses.
5 -10 mins. / meal
Goldilocks is more of a self-service establishment and there are limited
employees in the shop.

Facilities

Red Ribbon has a more spacious area and even use furniture like couches and
stylish chair.
Goldilocks is more on the economical size and has lesser space.

CONCLUSION

The two bakeshops showed that the shops have an intersecting target market

Main difference is that Red Ribbon caters to more upscale market and Goldilocks
reaching into lower classes.

Both are offering the same experience of bringing sweetness into the Filipino
families here and abroad.

References:
https://prezi.com/zyvh4d6fb8as/a-comparative-study-on-the-satisfaction-level-on-price-and-t
http://www.slideshare.net/lfolegario/micromarket-analysis-for-goldilocks-and-red-ribbon