Situational Analysis: Supermeal
1. Executive Summary
This paper discusses a marketing plan for Supermeal Chinese Restaurant in Sydney/ In order to ensure that the industry will be successful, the development of a marketing plan has been done. Herein, the first factor that has been considered is to analyse the situation of the marketplace. This is done by assessing Supermeal and its potentialities, the evaluation of the key accounts of the industry and the opportunities and threats that might be encountered by the industry. The second part will be the creation of a positioning statement to be used by the industry so as to be recognised in the marketplace. The third part is the discussion of the company’ marketing objectives, strategy, and action plan. Herein, the main focus of the strategy of the industry is to make the industry be well-recognized in Sydney.
Hence, the strategy that has been chosen to attain such goal is the use of a new advertising and promotion approach and other solutions for the issues faced by the company. The plans include marketing priority and marketing strategy implementation. A contingency plan was also discussed to ensure the success of the marketing plan.
2. Table of Contents
1. Executive Summary
2. Table of Contents
3. Introduction
4. Overview of the Company
5. Situation Analysis
6. Marketing Plan
7. Implementation Plan
8. Evaluation and Control
9. Conclusion
10. Reference
11. Appendix ……………………………………………………………………………..16
3. Introduction
Each industry is subject to factors which affects the performance of the firm. In order to have as successful business, companies must know how to surpass different challenges in the marketplace. In doing so, different techniques and strategies should be developed and executed. In this kind of situation, of the most notable approach is marketing plan. Basically, marketing plan enables the business industries to analyze the company. In addition, this plan also helps the company to determine their target audience’s needs, which serve as their basis for the development of their products and services. The newly developed products and services must be promoted effectively to reach their target market (Reed, 2007). Furthermore, the marketing plan also facilitates this essential business approach by outlining the applicable techniques of promotions and sales (Beech, 1997).
Accordingly, marketing plan should be considered so as to foresee the ability or potentiality of the business in obtaining competitive advantage. An effective marketing plan contains essential factors which determine the objectives of the organisation and the methods on how these objectives will be attained. Primarily, the main goal of this paper is to provide a marketing plan for Supermeal Chinese Restaurant. This paper will first analyse the current situation of the company using different marketing approaches. After which, a comprehensive marketing plan will be provided for Supermeal.
4. Overview of the Company
The company that would be given emphasis in this paper is the Supermeal Chinese Restaurant which started in the marketplace last February 5, 2007. The company is in the business for one year and 6 months now. The main objective of the company is to be highly profitable and promote culture of traditional Chinese food in Sydney. The target market of the company is mostly Asian and other tourists who love Chinese cuisine and dishes.
The restaurant offers Chinese breakfast meals from 11 am to 5 pm and other meals after 5 pm. Since Supermeal is operating in a Western nation, the company is facing a lot of challenges and issues, such as cultural issues. Other issues that the company is facing are with regards to their facilities and the changes in the season of Sydney which affect the performance of the company. In this regard, the Supermeal should be able to have a marketing plan that would boost the profitability of the company and solve the issues that they are facing.
5. Situation Analysis
Before setting a marketing plan, it is important that the company should know their current situation by using marketing tools for analysis. In this report, SWOT Analysis will be used and PEST Analysis.
5.1 SWOT Analysis
1. Strengths
Compared to the industry competitors of Supermeal Chinese Restaurant, the company has been able to preserve their Chinese tradition and promote their traditions and cultures to Australian market. Since the company is a traditional Chinese restaurant, they have the skills and knowledge of establishing good relationship with their customers. The knowledgeable employees are a major strength against their competitors. In this regard, the Supermeal will gain loyalty from their target market and the entire company will have a good reputation. Further, the marketing staffs of the company have the ability to think of the best ways in marketing the products of the company.
In addition, their strength can also be attributed the strategic location of the company which is near the China town in Sydney. This is a strategic approach because this helps them in reaching their customers easily and since they are in the city, they can also provide services to foreigners and Australian. Strength of the company is their trading time and their capacity to accommodate many guests because of the structure of the restaurant. Price is another strength that can be considered since Supermeal provides affordable but quality foods and services.
2. Weaknesses
Basically, food industry today is everywhere. However, the problem with this is that the emergence of competitors has an effect to the performance of the company. In line with Supermeal, the company is facing some weaknesses, and one of these is in terms of the expenses (see Appendix 1) of the company which cause financial burden to the management and the company as a whole. Another weakness is the inability of the management to promote their business through the use of pint and media advertisements. Further, the inability of the company to upgrade their system like in order taking and their cashier can also be considered as one of their weaknesses.
3. Opportunities
Since SUPERMEAL has long been familiar with the local Chinese market, conceptualizations of the value propositions of its products are highly in synch with the traditional foods and service provision present in the targeted location. As such marketing approach come relatively easier to SUPERMEAL management with its market location which is near China town to reach their target market easily. This situation should be taken advantage by the management to gain competitive edge against other restaurants which are operating businesses in China.
The participation of Australian government in world trade has opened more opportunity for Chinese restaurants to establish their businesses in Australia, especially in the city. In addition, Supermeal has the opportunity to expand their market portfolio and offer seasonal food and services to meet the immediate needs of target market for food services.
4. Threats
One of the threats facing the company is with regards to their expenses and their inability to provide enough financial budgets for each may affect organisational performance. Aside from this, the threat is the emergence of a new Chinese restaurant that uses state of the art facilities for promotion purposes. They are also threatened by their inability to meet the needs of their target market.
Competitor’s Analysis
Competition is a significant aspect to consider in a business. Industries should have effective competitive strategies to be more attractive in the eyes of the customers and to gain customer loyalty. In this regard, it is essential to analyse the competitors of the company to determine which company provides effective competition. In Sydney, there are many Chinese restaurants that offer the same products as Supermeal is offering. However, one of the edges of Supermeal against their competitor is when it comes to their operation and trade time. Most of the competitors of Supermeal are already closed ad 10 pm unlike Supermeal which is open until 2 am. In addition, in terms of competition, Supermeal has more competitive advantage especially with the affordable and quality foods and services they offer. In terms of competition, Supermeal is competitive when it comes to accommodating more customers because of their structure.
With these findings, it is apparent the conceptualizing, planning and executing business strategies in order to create highly favourable competitive advantage and market attractiveness. These considerations could result to the achievement or attainment of the short-term as well as the long-term goals of the company to succeed in a particular industry (Kotler & Armstrong, 2001). More challenging factors, however, are present when business organizations decide to initiate change in the industry through innovation and technology in product or service production and manufacturing, business operations, and advertising and marketing. Furthermore, initiating such developmental changes in different market orientation to offer products and services to people with diverse cultural and social orientation identifies other issues for a successful business venture (Kotler & Armstrong, 2001).
6. Marketing Plan
Based on the situational analysis conducted, the following are the suggested marketing plan for the company.
6.1 Market Positioning
Positioning Statement
In order to be recognised in the marketplace, it is important that the Supermeal will have its own positioning statement. The positioning statement for the company will be “TO BE THE NUMBER ONE CHOICE FOR TRADITIONAL CHINESE FOOD IN AUSTRALIA.” The objective of the company is to be known all over Australia and to gain more profit in the market.
6.2 Marketing Objectives, Strategy and Action Plan
Marketing Objective
The main objective of this marketing strategy is to ensure that the Supermeal will be recognised more in the Sydney market as a Chinese food restaurant that offers what they need in different seasons and a company that provides quality services for its target market. In addition, it also aims to identify the most appropriate strategy to be used in order to make the industry more competitive.
Geographic Mix
The Supermeal is located near China Town in Sydney. As mentioned, the city is the most populous city and it is the centre of trade. Hence, this means that in terms of geographical factor, the company has been able to choose a location which may provide much potential for the industry to be well recognized.
Marketing Strategies – Overview
The marketing concept has been referred to as the vital approach for achieving organisational objectives and it is significant in terms of marketing focus, coordinated marketing, customer orientation, and profitability. The company has to try and attain this level of satisfying the customer as a way of staying in their competitive position and making a profit (Czinkota & Ronkainen, 2004). In this regard, Supermeal must be able to determine an effective and efficient marketing strategy to promote the restaurants.
In the case of the Supermeal the marketing strategy that should be considered in this plan will focus on promotion and advertising as well as strategy to monitor their financial resources. In this manner, the Supermeal uses this promotional and advertising campaign gain competitive advantage, and a new management system to monitor financial budget and enhance their facilities (Elliot, 1990).
6.3 Marketing Mix
1. Target Market
Of all the components of a marketing plan, perhaps the most overlooked but most critical element is the definition of the target market. According to David (2003), it is a homogenous group of people or organizations that a company wishes to appeal to. There are two basic targets for a product or service: the user and the non-user segments. Thus, there are also two business and marketing decisions that the company must decide upon in light of the basic targets. The first is to cultivate the present market alone while the second is to go after non-users. The former can inspire consumer loyalty which is an important factor in the survival of any business. These are among the consumer characteristics that Supermeal Chinese Restaurant should identify and gain market visibility.
2. Product Strategy
The product of the company includes traditional Chinese food and other products depending on the season in Australia. Traditional Chinese food that the company offers include Fried rice, fried noodle, noodle in soup, wonton soup, congee, salt and pepper squid, roast duck, Peking duck including 2 course, steam hold live fish in ginger and shallot, stir fired mud crab in ginger and shallot with noodle bottom, Satay chicken, beef in black bean sauce anything customer want.
In order to solve the issue of the changing season, the company can diversify their product and food offerings so that they will still be able to provide the needs of their target market.
3. Promotion and distribution strategy
According to David (2003), there are at least four types of resources which the company can use to achieve its objectives: financial, tangible, human, and technological resources. These are the same critical success factors that SUPERMEAL should be equipped with in order to conceptualize management and cost-effective distribution strategies from the main suppliers to the end-users of the products, particularly with their products,
The company should consider approach that in terms of cost advantage by improving process efficiencies, vertical integration decisions, or avoiding some costs altogether. Organizations that capitalize on customers’ active participation in organizational activities can gain competitive advantage through greater sales volume, enhanced operating efficiencies, positive word-of-mouth publicity, reduced marketing expenses, and enhanced customer loyalty (Lovelock & Young, 1979; Reichheld & Sasser, 1990). To be known in the marketplace, the company may consider a print and media advertisements to promote their company.
4. Price Strategy
The range of price for the Chinese food is about -, but some seafood liked live fish and mud crab is depending of market price. To help them in their financial needs, the company may consider price increase on foods which are highly demanded and of quality. This is to help them in their financial burden.
7. Implementation Plan
Recommendations as to how the company will conduct its marketing s plans is governed by the assumptions that using the right mix of marketing strategies and approaches will allow the company achieve their organisational objective. Following is the six-month marketing plan for the company
1st Two Months. This is when initial collaboration with prospective marketing partners should be done. They should be selected by virtue of their reputation and performance in handling marketing tasks. The company will contact partners that will cater to its need to enhance the competitiveness of the company through advertising approach and other marketing and business approach. Each would-be partner will be given the chance to present their marketing plans for the company. The activities will include the following:
· Complete a detailed situation analysis to examine the context of the environment and to determine the need for the marketing plan.
· Involve the stakeholders of the marketing plan so as to consider their needs and preferences.
· Identify alternative options of the organization so as to exhaust the available alternatives.
· Set the assumptions and objectives of the marketing plan to distinguish the direction as well as the standards for marketing plan assessment.
3rd and 4th Months. Once the right mix and budget c were decided, it is expected that at this time of the year, all the marketing outputs will be ready for their implementation. The marketing efforts will be completed by criteria to measure its effectiveness. Intensive researches will be implemented to determine the success of the marketing strategy implemented. In terms of advertisement, the company may use brochure, newsletter, printed materials, the Internet, newspapers, radio, and television. The communications department of the company will be directly responsible on monitoring the content design, layout, dissemination, and training and development for employees and executives. Furthermore, the department is also expected to supervise all the market and attitudinal research. The activities will include the following:
· Determine marketing plan size in order to limit the concerns of the marketing plan, identify the necessary resources, and evaluate its feasibility.
· Examine the available resources whether material or human that should be acquired to meet the objective of the marketing plan.
· Analyze the risks, benefits, and costs of the marketing plan so as to ascertain the marketing plan’s financial return that will assist to the long-term goals of the organization.
· Develop a master plan that details the focus and concerns of the marketing plan’s goals.
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5th and 6th Months. The last period of marketing plan and implementation will focus on the maintenance and management of relationships. Research findings must guide the company on appraising its marketing approaches. All the steps that will be taken must be geared towards the determination, development, and design of the organization image, presence, and reputation. The activities will include the following:
· Document all the development and changes of undertaking the marketing plan at all its stages.
· Coordinate planning and marketing plan efforts between all of the marketing plan participants.
· Effectively and efficiently manage information, technology, and people.
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8. Evaluation and Control
The art of planning for the future of Supermeal can be considered as very important aspects for the entire company. The marketing plan is one is needed to ensure that the Supermeal will gain competitive advantage in Australian market and will be able to solve the issue and overcome their weaknesses to sustain their competitive position. The following activities will be initiated during the entire monitoring and control of the marketing campaign:
1. Detail the activities undertaken to close the marketing plan.
2. Outline outstanding issues, risks, operational matters, and recommendations.
3. Determine if the objectives of the marketing plans were met.
4. Deliver all the outputs generated by the marketing plan.
5. Enumerate the significance and benefits to justify the cause and rationale of undertaking the marketing plan.
6. Prepare a report or presentation that will detail the accomplishment of the marketing plan.
7. Monitor and regularly evaluate the development to ensure the timely completion of the marketing plan.
8. Ensure a logical intervention strategy to minimize the unnecessary impact of undertaking the marketing plan.
9. Identify cross-cutting objectives to be able to work on the marketing plan based on the assumptions considered.
10. Prepare back-up plans to supply assist for the possibility of unforeseen difficulty during the course of the marketing plan.
11. Plan for capacity development and sustainability to ensure the continuous implementation, control, and evaluation of the marketing plan.
8.1 Quarterly Action Plan – Public Relations
For this market plan, the quarterly action plan in terms of public relations will be conducted with the public relations manager. The main goal of this market strategy is to ensure whether the company has been able to reach its projected revenues and to make sure that the company has a greater relation with the community of Supermeal especially for its target market. It can be said that to monitor this issue, the company must have a quarterly meeting to be conducted and lead by the marketing manager. The manager will be the one responsible for discussing what has been the achievement of the company each quarter and what should be done to increase public awareness. All in all, public relations practice management must be consistent across organizations.
8.2 Contingency Plans
This marketing plan is created to have a guideline for the new marketing approach of Supermeal. This plan does not give assurance for the company if this will be successful or not. In this manner, there is a need for a contingency plan which can be used in some unexpected scenarios may occur which can affect the implementation of this marketing strategy. Two of the plausible scenarios which may occur includes the revenue exceed projections and revenue miss projections.
For revenues exceed projections this implies that a serious increase income over projections will give the food the opportunity to increase their quarterly marketing. In this manner, the marketing manager can be hired earlier and the company may be able to provide more equipment and possible add an additional staff to help the company in providing quality service to their consumers (Hills, 1994).
On the other hand, for the revenue miss projections, the company must be able to prepare for this possibility. If the company does not meet its projections, this means that the company should re-double their marketing implementation efforts, The most dangerous things about this scenario is that the first reaction to missed the projected revenue is to decrease expenses, specifically marketing expenses. However, since the company must re-double their marketing strategy they cannot simply decrease their budget for their marketing efforts. In this many additional capital infusions may be deemed necessary and that possibility should be done effectively.
9. Conclusion
In conclusion, it is obvious from the research that Supermeal is a Chinese Restaurant that hitting Asian and tourist market. The company has been able to preserve their Chinese tradition and promote their traditions and cultures to Australian market. Since the company is a traditional Chinese restaurant, they have the skills and knowledge of establishing good relationship with their customers. But behind of that, that has a lot of problem which facing, so after this situational analysis report, that will collect more accurate information for making a marketing plan in the future. Let the customer much like to come to Supermeal serving than before. Of course Supermeal must keep high quality of food and best service to customer, then make profitable with the company, branding their food in Australian anywhere, and also extend to the world.
10. Reference
Beech, W. (1997). Crafting Your Sales Technique: With a Marketing Plan, You Can Put Your Sales and Promotion Strategies in Place. Black Enterprise, 28(5), 31.
Czinkota, MR & Ronkainen, IA (2004). International Marketing. Thomson: South Western.
David, FR 2003, Strategic Management, Pearson Education, Upper Saddle River, New Jersey.
Elliot, G.R. (1990). The Marketing Concept – Necessary, but Sufficient? An Environmental View. Graduate School of Australia, University of Melbourne, Australia.
Hills, G.E. (1994). Marketing and Entrepreneurship: Research Ideas and Opportunities. Quorum Books, Westport, CT.
Kotler, P & Armstrong, G 2001, Principles of Marketing, Prentice Hall, London.
Reed, P 2007, Strategic marketing planning, 2nd ed, Thomson Nelson Australia Pty Limited, South Melbourne.
11. Appendix
Financial Expenses of Supermeal Chinese Restaurants
Rent: about 00p/wk (in Aus dollar)
Gas: about 00p/month
Electricity: about 00p/month
Insurance: about 0p/month
Cleaning fee: about 0p/wk
Salary: about 000p/wk for about 30 employees including full time and part time
Profit: about 000-000p/wk depend on cold or hot session.
Credit:ivythesis.typepad.com
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