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Part A
a) Evaluation of two target Markets (Comparative Analysis)
Current competitive position: - Competition regarding students, families and tourists.
Students: - In auckland there are lots of colleges and universities, now days many
asian students are coming auckland to gain their education,among them lots of indian
students are there which are the main center of attraction for restaurant.On many
ocassions like birthday,engagement, farewell most of indian student prefer to go to
little india restaurent which is very close to their colleges and campus to get good
indian food as well as drink.
Buisnessman:- Buisnessman have a lots of meeting with different culturers of
people,many of their client like indian food and Little india restaurant also provide
delivery service so during office time many people order a food during their work
time.
Tourist As auckland is tourist place Little India restaurant also attract many
customers.
As comparison to little india, Large Food -chains restaurants heavily target this segment and
Consumers in this segment are more likely to cook at home. Traditionally, this segment has
been targeted by hotels (who offer guides, travel arrangements, accommodation and food).
Market Attractiveness:
Main consumers needs - families and businessmans want to get into traditional food
and Tourists want to have quick and low price food, Need emotional support and often
prefer traditional food situations.
Usage level- family groups have limited usage go to a dine-out several times a week
and tourists High usage, as they are tourists consumers always dine out.
Price sensitivity- families are less price sensitive, as other selection factors (e.g.
feeling welcome) are more important. For tourists Price is a reasonably important
factor and different price deals are important.
Level of brand loyalty- Once these consumers are comfortable and committed, they
display a high degree of loyalty and tourists have High level of switching behaviour
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Masala Indian:
Price
They slightly decrease price in some of their menu items but at the cost of reduction
of staff which can affect their customer service.
Product
Masala Indian include green kebab in their menu. At little India more than 95 % of
sale is consumption of all kind of Indian food so addition of this one item is not going
to affect more to Little India.
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Place
Masala Indian also starts providing free car parking to their customers but to only
loyal customers. At little India we have free parking to all our customers. Masala
Indian also starts training terms for their staff regarding customer services but we
have already trained and experienced staff.
Promotion
Masala Indian Starts punch card system to make customer regular they providing
every 10 meal free for each regular customer. Little India still has no plan like that in effect.
th
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Sales Forecast
Unit Sales
2012
2013
2014
First-Timer Meals
Regular Meals
Small Meals, Drinks, Desserts
Total Unit Sales
23,876
42,576
13,412
79,864
30,786
52,324
14,920
98,031
31,402
54,940
15,368
101,710
Unit Prices
First-Timer Meals
Regular Meals
Small Meals, Drinks, Desserts
2012
$20.00
$20.00
$8.00
2013
$20.00
$20.00
$8.00
2014
$20.00
$20.00
$8.00
Sales
First-Timer Meals
Regular Meals
Small Meals, Drinks, Desserts
Total Sales
2012
$477,514
$851,522
$107,297
$1,436,332
2013
$615,722
$1,046,481
$119,364
$1,781,567
2014
$628,037
$1,098,805
$122,945
$1,849,786
2012
$8.00
$5.00
$3.20
2013
$8.00
$5.00
$3.20
2014
$8.00
$5.00
$3.20
2012
$191,006
$212,880
$42,919
$446,805
2013
$246,289
$261,620
$47,746
$555,655
2014
$251,215
$274,701
$49,178
$575,094
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Factors
Impacts
Competitive
Position
Resources
Opportunitie
s
Social media can help to find new employees. It can post new
vacancies on trade me.
Bring Attention to Your Products: Featuring a product on a social
media site is one of the fastest ways to bring attention to it. Offer a promotion
along with it for your online community members and its takeaway and dine
in strategy can reach up to peak point.
A successful brand will create customer loyalty, and will constantly
build awareness and participation in festival events lets customers visualize
their services and offerings.
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This restaurant believe in the customer, they will continue to make a reasonable profit,
that will allow them to remain competitive, healthy, community involved, and a
Family Restaurant where generation will continue to gather.
Weakness:
The dcor and the look of the restaurant seem to be old and outdated.
Threats:
It can invest more to expand its business and also make improvements in its
decoration and look to encourage dine-in.
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The Auckland City economy expanded 4.5% over the year ended Mar 11 (3.3% for NZ).
There is Rapid population growth, fuelled by migration. A net migration gain has further
stimulated population growth of around 4% to 5% in the year to December 2011. New
Zealand economy is also growing which mean a strong labour market and more job security
for people. As per capita income is increasing people spending power will also increase
which is good sign of business for this restaurant.
Social: Over three-quarters of New Zealands population live in the South Island (75 percent)
with one-third of the total population living in the Auckland region. This region is also the
fastest growing, accounting for 46 percent of New Zealands total population growth.
As population and tourist are growing in Auckland it brings more opportunity for our
restaurant business to attract more customers and increase sale. As number of entertainment
activities increased in Auckland like Magi festival, Diwali festival and live events and shows,
people from other parts of New Zealand often travel to Auckland and which can help
restaurants to increase their sale.
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Due to increase in population and travellers from all over the world this factors has a great
impact upon Indian restaurant to attract more customers and increase sale.
Cultural and Ethnic: Diversification of cultures helps restaurants to grow their business.
Auckland has high number of older population and older generation creating increased
demand for dine out services which is beneficial from restaurant point of view. There are lots
of media available in Auckland for advertising like local news papers, websites
(www.dineout.co.nz) for reviews of our food which can help to attract more customers. Little
India has advertised through website also which helps customers to order online.
Ethnic/religious factor: In New Zealand restaurant and shops open 9 AM to 10 pm and 4 pm
to 12 pm mostly people like to eat out in restaurant
Natural: In New Zealand people are very sensitive to food and hygienic thing. So, there are
varieties of rules for environment control especially for food or restaurant business. Little
India is contributing in using natural products and providing pure Indian taste to customers.
There are many waste products which are recyclable in restaurants. They are glass, plastic,
metal, cardboard, and aluminium. Composting food waste helps to reduce the amount of
waste and it improves the quality of the soil.
Some of the tasks we follow which are related to environment are:
Analysis:
1) Recycling and decomposing 2) Energy and water efficient equipment are applied in
various areas in a restaurant -kitchen, dining area, and restroom and we provide eco friendly
cleaning suppliers by using environmentally friendly cleaners for dishes, and linen, cleaners
for tables and floors.
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More than 7 out of 10 household with an income of more than $100,000 have Internet
access;
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The VRIO framework, in a wider scope, is part of a much larger strategic scheme of a firm.
The basic strategic process that any firm goes through begins with a vision statement, and
continues on through objectives, internal & external analysis, strategic choices (both
business-level and corporate-level), and strategic implementation. The firm will hope that this
process results in a competitive advantage in the marketplace they operate in.
The Question of Value: "Is little India restaurant able to exploit an opportunity or
neutralize an external threat with the resource/capability?"
The Question of Rarity: "Is control of the resource/capability in the hands of this
restaurant?"
The Question of Imitation: "Is it difficult to imitate, and will there be significant cost
disadvantage to restaurant trying to obtain, develop, or duplicate the resource/capability?"
The Question of Organization: "Is little India restaurant organized, ready, and able to
exploit the resource/capability?"
Resource/Capability
Rare?
Valuable?
Difficult to
imitate?
no
Yes
no
Exploited by
the little
India
restaurant?
yes
Resource allocation is used to assign the available resources in an economic way. It is part
of resource management. In management, resource allocation is the scheduling of activities
and the resources required by those activities while taking into consideration both the
resource availability and the financial.
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Competitive
Implications
Parity
PART B
a) Impacts of Internet and social media on Marketing Mix:
Although there has been a trend toward the new marketing approaches used in e-commerce,
this is not to say that traditional marketing concepts cannot be applied. The conventional four
Ps of marketing, product, price, promotion and place, are as relevant to online businesses as
offline ones. However, e-commerce brings new issues that must be considered and may
require a rethinking of the existing marketing mix. E-commerce technologies offer new
product/service and new placing options as well as new pricing strategies. However, one of
the biggest effects has been on promotion.
Price: Price is another reason for most consumers has a high impact on the online ordering.
The price that customers are willing to pay based on considerations such as the company,
brand, reputation and product.
There are three main approaches a business takes to setting price:
Cost-based pricing: price is determined by adding a profit element on top of the cost of
making the product.
Customer-based pricing: where prices are determined by what a firm believes customers will
be prepared to pay
Competitor-based pricing: where competitor prices are the main influence on the price set
Product: Customers can check online variety of Indian food and services available at little
India restaurant and review each of this product.A product strategy is the ultimate vision of
the product, as it states where the product will end up. By setting a product strategy, you can
determine the direction of your product efforts. To take product statergy advantage this
restaurant used many ways.like they advertise on internet on their website,on other
promotional media for their special menu offer,also on radio and news papers.
Different ways which used by little india restaurent to compete with their compititores.
Product quality,identity.
high employee motivation
they used special indian spices which has uniqe traditional indian taste.m
Promotion: The choice of a target market and formulation of the most appropriate promotion
mix to influence it.there are different type of promotional strategy.
Media release,event,networking,intenet,follow up with clients. Little india restaurant use
following prmotional strategies:
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Distribution: little India can connect directly with consumers and shorten the distribution
chain, inefficiencies can be eliminated, and product delivery time can be decreased, and can
build closer relationship with consumers. When the Internet can serve as a replacement for
the intermediary in managing information flow from consumers back to the restaurant,
demand can be gauged more accurately and service can improved.
Target Market: The internet is the fastest-growing advertising medium. Main target is the
city of Auckland with a population around 1.million.Most of area with downtown covered by
our branches in auckland. The Internet introduces the concept of interactive marketing, which
has enabled advertisers to interact directly with customers. ) In interactive marketing, a
consumer can click on an ad in order to obtain more information or send an e-mail to ask a
question. Beside the two-way communication and e-mail capabilities provided by Internet,
vendors also can target specific groups and individuals on which they want to spend their
advertising dollars. Hence this will enhance restaurants Target market in less time and cost.
Demand: The Internet will provide consumers with unprecedented amounts of product
information of Indian restaurant. It knows that consumers who access online product
information have a 15% greater demand for making online orders. The benefits of a new
marketing strategy in which product information is provided only to those consumers who
exhibit the highest marginal demand response to product information. We know that this
strategy significantly outperforms the traditional strategy of targeting consumers who had
high demand in the past.
b) Compatibility with marketing objectives:
1. Opportunities and marketing strengths
Social Media: Promotional media impact the customers a lot. These sites can be part of
marketing campaign for little India restaurant. Restaurant is taking advantage of these mass
media sites by showing the menu offering and traditional dishes to attract the customers.
By distributing flyers door to door can be a good way to make people aware of restaurants
promotions by sitting at home. It can turn online visitors into real customers or as a
way to encourage people to get on their feet and get inside the restaurants
doors.
Websites: its a time for little India to take on technology, and take advantage of all
the marketing opportunities that technology provides because the customers
have chosen restaurant based on email offer or an online advertisement.
The number one thing that diners look for when they search for little India
information online is a current menu just ahead of a telephone number,
address, and photo of the establishment. Its also offering customers feedback
forms so they can know about customers complaints for better improvement.
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Control. Control refers to e-users ability to regulate information they view as well as
the rate and sequence of their exposure to that information. Web site is seen as a pull
medium as e-users determine what they view at web sites whereas TV can be
characterized as a push medium because the broadcaster determines what the viewer
sees once he or she has selected a particular channel.
Digitalization. Digitalization is the ability to represent a product, its benefits as digital
bits of information allowing restaurant to use the Internet to distribute, promote, and
sell those features apart from the physical item itself. Digital features are easy to mix
and match to meet the demands of individual customers.
5. Competitive:
Competitive factor is a significant factor in a restaurants approach towards marketing which
should be considered by all restaurant.some important factor of little india restaurent is such
as special offer like lunch special,combo special and due to special taste most of customer
attract to this restaurant in comparision to others. Other point to analyse is SWOT which was
discussed in the beginning.
C) Distinctive competencies and Competitive advantage:
Place, more commonly called distribution , includes the organizations, locations (quantity and
type), and processes (physical, digital, intellectual) that support the creation and fulfillment of
customer demand. This is also a competitive advantage of this restaurent. Little indias skill is
to keep a change in variety of food according to customers need and deemand.
PART C
a) Ranking of Options on bases of feasibility Study of little India:
A Feasibility study is an exercise that involves documenting each of the potential solutions to
a particular business problem or opportunity. Feasibility study can be undertaken by any type
of business, project or team and they are a critical part of the Project Life Cycle. In the
beginning of opening, restaurant assesses the feasibility of their concept and location makes
sure they will earn some profit. This study helps to be confident to avoid crucial missteps and
financial loses.
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Analysing the competitive set of restaurants for the competition's strengths and
weaknesses in Auckland area and what is different about products. Add points for how
the competition may respond when little India will introduce their new offering.
Outline risk factors like economic changes and increased competition, and how you
will mitigate them.
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Promotion- little India use both push and pull marketing to drive sales growth. It uses push
marketing to create awareness in a new or existing product, and then targets banner ads to
pull in customers when they search online for more information on the product. They use
newspaper ads and fliers about its menus directly into customer mailboxes.
Place (Distribution) - Place, more commonly called distribution , includes the organizations,
locations (quantity and type), and processes (physical, digital, intellectual) that support the
creation and fulfillment of customer demand.In the restaurant there are waiters, chef and
cleaners who are involved in serving and cooking of food and cleaning. If everyone involve
to manage buisness means the restaurent is running good and if everyone give their best at
their duty then buisness takes on high.all customer expect good service and nice food.
Little India restaurant is fully licensed restaurent,it opens 7 days aweek for breakfast, lunch
and dinner and close at 11pm night.Location is very good and it provide a great experience
to customer.
d) Identifying gaps:
Resource gaps are identified through strength-and-weakness analysis as part of the SWOT
analysis described earlier. In this analysis it can be seen that in little India there are some
resources that already have and some it needs. It should be noted that some resources may
have to be sold and some acquired to meet the needs of ones competitive strategy. Restaurant
is trying to improve its position which makes resource gap analysis critically important for an
owner or manager. New resources must be developed when existing resources get worse,
devalue, or turn over. In addition, success with the existing strategy can create resource gaps
as additional resources are required for growth.
PART D (Strategic Marketing Plan)
a) Desired marketing position
UNIT STANDARD 2930 GARRY PATEL
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Product class: product class is a strategy to promote two products that lie in the same
product class. The main driver of positioning by product class is usually sales promotions and
sales tactics. For example use of this strategy in restaurant is selling chicken dishes and side
dishes at the same time. By positioning chicken or curry with discount drinks on the market
by promising consumers they will get a free or discounted drink with the purchase of both of
them, Little India is increasing the likelihood that consumers will buy, or at least try, both
products.
Consumer needs and benefit: This strategy is mainly used on the need and benefit of the
product. Little India can focus on some of the beneficial strategy like:
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Product variety marketing: This is much variety of products in the market today to satisfy
different consumer needs. Same as Little India offers different variety of menu offering to
their customer.
The differentiated product specific market or niche market: The market niche defines the
specific product features aimed at satisfying specific market needs, as well as the price range,
production quality and the demographics that is intended to impact. Little India is thinking to
use it by website. This can be good way to attract or develop the specific target market.
Concentrated target marketing or Segmentation approach: Little India using is planning
to use mass customization strategy that impact individual customer because it is difficult for
restaurant to do marketing with a segment of one. In these days, as business is growing Little
India is planning to keep track of their customers through large databases that record every
interaction through each touch point. When a customer interacts with a staff member, on
social media or Web site, the customer is made to feel that the restaurant knows and cares
about them.
d) Analysis of current and future market demand: There are many ways through which
Little India can lead to increase in future demand. First, for each consumers taste feeling is
essential. They need new or delicious flavours in less amount of money. Second, according to
the change in trend people love to eat healthy or simple diet like salad, fresh meat, ready to
eat meals, fast food. Near about 405 of them eat out others have moved to one dish meal.
Third, people love to eat fresh food. This trend makes the consumers to use natural food
which has outperformed the market by 30%. Fourth, 50% of the consumers love to dine in
rest of that prefer to order online. Little India is also offering the service of home delivery
which is giving high profit to restaurant because of cost and quality of the delivered food.
Fifth, The natural high levels of minerals and vitamins in salad, or chemicals in tomato
ketchup, or omega fatty acids in meat products are all being marketed as natural foods which
deliver beneficial health effects through ingredients such as antioxidants or calcium. The
trend is: market natural products with ingredients which are beneficial to health.
e) Strategy for Market Mix conformation from stakeholders: Stakeholder refers to
individuals and groups that have interest in the organisation or its products/services. Little
India have two types of stake holder first internal Stakeholders include owners of the
business, customers, suppliers, employees. Secondly, external stakeholders do not own or
work with the business, but still have an interest in the business. They include: Customers,
Associations and organisation inclusive; the press/media, local governments, local
UNIT STANDARD 2930 GARRY PATEL
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Obtain as much information as possible about the products or services they sell in our
area of service. Like Little India sell Indian food in target areas, it needs to know what
consumers in your area spend on Indian food frequently. As business is small so not
data is available with research industry groups and business organizations to find out
what statistics they have for our business industry. We are doing this over self. We get
information from website, Chamber of commerce etc.
Calculate your market share once we have the relevant statistics. We do calculation
based on revenues.
We keep track of our market share over time. If there are distinct changes to our
market share, we find out what is causing it.
And the last one is profit and loss. In Little India there is special accounting department
which calculate everything.
g) Purposed Strategic marketing plan:
Key points
Existence through
promotional media
like newspaper,
flyers
Update existing
Website
Participating in
social events
Resources required
Headings, sub
heading and product
portfolios
Online orders, page
of customer feedback
, consultation of
website designer
In event sponsors or
city clubs
Timeline/monitoring
End of 2013
By conducting
survey every month
Outcomes
Customer feedback
and survey
Increase in sales,
feedback and good
experience
Brand awareness
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References:
www.marketing research
Little India home page
www.google .co.nz
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