Marketing 3 Essay Example
A marketing strategy is a very important component for any given type of business. After it has identified its target market, a business is expected to come up with ways for which it will use to market its products and services so that it can reach the potential customers and ensure that it remains in business for a long time. in fact, the very core function of adopting an effective strategy for seedling Café’ is to attract a substantial number of new customers while also ensuring to inform the existing customers of the new products being offered.
For Seedling Café’ the marketing strategy lies in conducting an intensive home delivery so that the products can be fairly known by the families and students who spend most of their time indoors. Home delivery of food products will be offered at a slightly affordable price so that they can be using this facility for a long period of time.
I also intend to adopt the current menu to improve on the underlying marketing. The restaurant’s menu will be presented and availed to the customer through the company’s website. More to this, I also intend to make more hard copies of the menu that will be given to customers whenever a home delivery is made. This way, the customer will have a chance to know what to order prior to making their home delivery orders.
There is a likelihood that the copies and home delivery will also benefit from secondary referrals especially by word of mouth. Existing customers will likely recommend the food products offered by Seedling Café, which is a phenomenon that will help cut down on marketing related costs. In fact, it is well-known fact that the adoption of word of mouth in promoting products is efficient and has the capacity to increase the level of revenues within a short period of time.
B. Marketing Budgets
In coming up with my marketing budget, I intend to adopt the home delivery option that will be targeted to both families and students who spend most of their time indoors. I am hoping to spend in excess of $5,000 in printing hard copies of the menus that will distributed to different homes and hostels and, as a result of this investment, I expect to accrue revenues that will surpass $100,000. This will be possible because printing costs of the menu is slightly lower, which translates to more copies to be produced in the end. More copies, translates to more customers being reached at any given moment hence the promotion of the restaurant and its food products to a larger extent of targeted audience. We also hope that the distributed menus will be accessed by friends, close relatives and neighbours for where home delivery was made. It thus means that this extended distribution will make sure that the products are made popular within a larger section of the community in Melbourne. Most importantly to note, the use of distribution of hard copies of menus as well as home delivery is set to improve the trust and confidence of potential customers that include; families and students of the food products being supplied.
To sum, I would like to give my appreciation to ISBS World Website for allowing a chance to evaluate their rather exceptional informational data that I later used for coming up with a unique promotional plan. The site was easy to navigate and had sufficient information that related to how one can come up with an efficient and cost-effective promotion plan for a restaurant form of business. I would also like to appreciate the Australian Bureau of Statistics for its website that provided with statistical information in regards to the restaurant business in the country and especially within the Melbourne area code.
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