In this assignment project I will discuss the business named Mujin Restaurant located in 12 Smith Street Collingwood. Below are the detailed analysis for the marketing plan for Mujin Restaurant. o Determine your marketing strategies, ensuring you:
Evaluating available marketing opportunities
Mujin Restaurant marketing opportunity 1 - Corporate Marketing:
Business Viability Contribution to Mujin Restaurant
Visit competitor stores and websites, evaluate promotion and sales efforts and observe foot traffic Satisfy individual consumer demands as well as provide services in the long-term interests of the consumer and business
Mujin Restaurant marketing opportunity 2 - Online Promotion:
Business Viability Contribution to Mujin Restaurant
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Through a careful examination of the customer and his/her needs and wants, the restaurant can determine what is required to create a differential advantage. Therefore it is easier to gain the organizational strategic direction and goals.
Developing a marketing performance review strategy that incorporates appropriate marketing metrics to review of organisational performance against marketing objectives
I have used the value chain analysis to perform the current marketing reviewing:
Outbound logistics:
Created an Asian style cafes aimed at bridging the gap between home and work.
Operations:
• Guiding principle: apply the highest standards of excellence to the purchasing, roasting, and fresh delivery of
The main aim of any business is profitability and growth. Stakeholders are very particular on identifying strategies to promote business growth. Key to a successful business is to offer the right product at the right time. Of the four standard growth models, the product development and diversification models have the disadvantage of brand dilution and brand confusion for Ruth Chris. Penetration model could definitely help in furthering the business however; its limitations are due to smaller scope in the current markets for fine dining establishments.
Summary: In 2004, Dan Hannah, VP for business development of Ruth's Chris Steak House, was placed accountable for detailing a business system to guarantee the proceeded with growth of the company, and as a franchise. Hannah trusted an extraordinary approach to expand the company would be to set up restaurants abroad. The issue was that numerous potential investors couldn't qualify to get tied up with the franchise with the strict company policies, so Hannah needed to conceptualize different thoughts for expansion. In the wake of considering numerous models for growth, Hannah chose to run with a market development way to deal with international expansion.
Individuals have become extremely picky when it comes to the products they invest their money in these days. There are numerous choices for each product out there. How does the consumer decide which company they should purchase their products from? How does a company ensure they are the company that fulfills their customers wants and needs? There is not a blueprint or set of instructions for companies to follow in order to ensure their success in the business world.
Introduction Re-invention and targeted approach towards achieving competitive advantage were the key strategic actions taken to make Trader Joe’s (TJ) from a glorified regional convenience store to a nationwide specialty retailer, and that might just be the most important thing in the supermarket business. The footprint of this success lies in the efficient utilization of the company’s resources and their unique capacity to deploy its resource and capabilities(BB835). The result of such unique circumstances helped TJ to stay far ahead of its competitors in terms of customer satisfaction and brand loyalty. This TMA proposes that, through a company’s resources and capabilities TJ managed to imitate Key Success Factors (KSF) that created value,
Whole Foods Market uses a broad differentiation generic strategy (based on Porter’s model). It was demonstrated more clearly by production line strategy, growth strategy, merchandising strategy and store location strategy 1) [GROWTH STRATEGY]The Whole Foods Market’s growth strategy was to expand via a combination of opening new stores and acquiring small owner-managed chains located in desirable markets. It led to an easier way to access wider market segments which is the objective of company’s broad differentiation strategy. a) Entered Atlanta Market and Great Britain by acquiring Harry’s Market and purchasing Fresh and Wild b) 2007: Whole Foods was proved to be largely successful after purchasing struggling Wild Oats Markets – its biggest competitor in natural and organic food .This acquisition gave Whole Foods entry to 5 new states and 14 new metropolitan markets c) Renovated and rebranded Wild Oats’ stores as WF stores i) Sold 35 Henry’s and Sun Harvest stores which had been previously acquired by Wild Oats gain from sales and reduced net purchase price for Wild Oats market.
Marketing Strategies:- • The designing department of root Canada makes sure that all products are up to date by travelling, researching and stay in touch with latest cultural and fashion development. • Time to time consultation with retail staff and consumers for the betterment of the product. • Strongly linked with the Canadian heritage and core values. • Testing new products on employees of the company in order to get feedback. • Co-Owners finalize the product before launch it in the market.
In addition, to be successful, an owner need have a good planning to stand out from the crowd, especially restaurants in the town areas with high competition especially with McDonald. Even an owner should frequently review their menu and theme to ensure that they are giving customers what they desire. If customers do not feel satisfied with the food or the restaurant itself, the owner will start to lose their business badly and good word-of-mouth advertising from their customers to other people. The managerial part is also an important role to consider on
PEARSON BTEC INTERNATIONAL LEVEL 3 YEAR 2 EXTENDED DIPLOMA IN BUSINESS UNIT 4: RESEARCH AND PLAN MARKETING CAMPAIN NAMES: MUNYENTWARI JULES ASSESSOR: MUYOMBA FRANCISCO DATE: 19TH/01/2023 DUE: 2ND/02/2023 CENTER: KING DAVID ACADEMY REG: 01213 Introduction In this report consist of the meaning of market research of HI meals, the purpose of market research of HiMeals, the two types of market research, features of market research and the analysis of the market.
2.1 Describe how sales and consumer-related legislation and regulations affect the delivery of customer service When you sell a product to a customer, you are entering an agreement or contract with them. Under the Sale of Goods Act 1979. A customer has legal rights if the goods they purchased from you do not 'conform to contract' - ie if they are faulty or broken. Under the Consumer Rights Act, in order to ensure your products conform to contract, they should: • match their description - by law, everything that is said about the product must not be misleading, including whether it is said by a sales assistant, or written on the packaging, on advertising materials, in-store or in a catalogue • Be of satisfactory quality - including being
SMART marketing objectives for a hospitality and tourism business: From the brief meeting, Mr Ramesh summarized the main objectives of the Village Hotel Bugis will coincide with the Group’s mission statement. (i) To develop an enterprise and operate the businesses by serving with grace and love, integrity and honesty (ii) To inspire better lives to all stakeholders using the core values of BUILD (iii) To market VHB is a destination of pleasure and business with its unique characteristics of its locality. 2. Marketing plan development for a hospitality organization: Marketinng audit ( PEST ): PEST analysis is a simple widely used tool that helps to analyze the Political, Economic, Social- cultural, Technological changes in the business environment. Let’s see how The Village Hotel uses PEST analysis to their business.
The authors study a restaurant for this purpose. The restaurants have an inherent advantage that a licensed and franchisee restaurant might share the same menu ideas, outlook strategies, and production pedagogy which necessarily makes them more comparable while the management forms, observing systems, hiring methodologies etc make the two different enough to study and identify the underlying causal relationship (if any). The authors in the end then comment on the vital points of differences between franchising and licensing. These differences are microscopically studied under both operational as well as business thought process aspect. The authors comment that franchising might lead to a higher customer satisfaction level irrespective of the metric and the reason being that franchisor usually has better control of the day to day operations in a franchisee.
A customer’s first impression of a restaurant stems from the atmosphere and the service and these are critical items in getting a first time customer to become a regular. Ensuring that this newly available time is focused on ensuring that the processes relating to those two items are efficient can help to ensure business continuity. This also means; increased demand, increased productivity and overall improvement in the restaurant’s efficiency which would lead to increase revenues, and service quality. There are always a flip side to every new venture and outsourcing is not any different as there are disadvantages that are faced by restaurants. The key disadvantage is that it becomes difficult to ensure that the quality of the food provided meets the standards of the restaurants.
STRATEGIC MANAGEMENT CASE STUDY: MCDONALD’S CORPORATION 1. INTRODUCTION McDonald’s Corporation is the world’s leading fast food restaurant chain with more than 34,000 local restaurants serving approximately 69 million people in 119 countries each day. More than 80% of McDonald’s restaurants worldwide are owned and operated by independent local franchisees. Its revenues come from the rent, royalties, and fees paid by the franchisees, as well as sales in company-operated restaurants (McDonald’s, n.d.).
Introduction The following strategic analysis report was carried out for Giant Hypermarket in Malaysia. Giant Hypermarket also popularly known as “Giant” is a subsidiary of Dairy Farm International. The objectives of the study is to advise the Board of Directors into a possibility to revisit and redesign the current business strategy based on the blue ocean strategy (Kim and Mauborgne, 2005) to provide value based innovation via cost reduction with increased value for buyers and to ensure sustainable business operation in Malaysia. Additionally, the analysis also includes the possibility of developing a global strategy for Giant.
First, from the beginning of the classes I was able to design and implement marketing/business strategies in particular areas only. After that, I am able to create long-term and mutually beneficial exchange relationships between an entity and the publics with it interact. Moreover, the strategic marketing analysis & planning process such as internal & external situation assessment, strategy formulation, positioning and marketing mix were taught during lessons in detail that integrated my marketing knowledge. And as a result I also became aware with a range of new issue of marketing management and the marketing tactics in particular that were resulted from the product and branding strategy. I found strategic marketing analysis and planning of this project more challenging than