Table of Contents
43. Situation Analysis
43.1 Market Analysis
53.2 Company Summary
53.3 Products Overview
53.4 Environmental Analysis
53.5 Customer Analysis
63.6 Competitors Analysis
63.7 SWOT Analysis
This report is a marketing plan for Settebello restaurant that is seeking to enhance its competitiveness in the industry. In the report, the purpose of the marketing plan is properly outlined to give the reader some understanding concerning the objectives of the marketing plan. The scope of the marketing plan concerning the duration of the marketing activities and the expected outcome are properly outlined in the plan. The methodology that will be employed in the process of collecting the necessary information needed in the marketing activities is explained. Also, a situational analysis of Settebello restaurant is done where various aspects concerning the market and the company are explored. For instance, issues concerning the market, company, products, the business environment, customers, and competitors are explored to assess the competitiveness of Settebello Restaurant. Besides, SWOT analysis is done to assist in assessing how competitive the company can be in the industry.
The marketing plan is aimed at assessing the competitiveness of Settebello Restaurant by analyzing the business environments in which it has been operating. The various factors that are likely to affect the operations and the success of the company in the industry are assessed aiming at assisting the management to come up with the best strategies that can help to make the company competitive. Through the assessment of the business environments in which the organization operates, the management can be in a position to assess the possible change that it can encounter in its operations. For instance, the company can be in a position to evaluate the level of competition in the market hence adjusting its strategies to ensure that it can survive despite the increased levels of competition. The knowledge of the business environment is crucial in the process of ensuring that the company is competitive in the industry as the management can be in a position to adopt competitive strategies (Kerin, 2012).
Settebello Restaurant operates in the fast food industry, which is considered to be very competitive. The company has been offering pizzas to the consumers in the industry where it has managed to compete despite the high number of companies offering the same products in the market. For instance, the company has employed differentiation strategy that has enabled the company to be unique in the market despite a large number of restaurants offering pizza in the industry.
The marketing plan will take place within three months where marketing manager will be ensuring that the company products are competitive in the market. The marketing efforts will be geared towards ensuring that the products are made competitive in the industry where the management will make sure that it is aware of the competitors to ensure company’s products have unique features that can make them competitive. The primary competitors of the restaurant in the industry include Italia plus 39 Pizza, Nostro post restaurant, Little Bourke St, Melbourne VIC 3000 and Max hardware restaurant. The company will ensure that its products are competitive in the market by making sure that they have unique features.
When finding the vital information that can assist me in conducting the market research, I will employ the use of oral interviews. The oral interviews will be the primary sources of primary information that will be used in the process of gaining the necessary information concerning the industry. Also, I will make use of necessary sources of data where I will make use of information sources hat can include magazines. A descriptive design will be utilized in the research to ensure that the necessary descriptions of the research phenomenon are properly done. The research will be focusing on promotions, price, product, people, presentation, and promotion.
3. Situation Analysis
The market is very competitive as many more companies are entering the industry leading to a decrease in the market share. The companies can enter the market as there are no restrictions concerning the entry into the market. As a result, the companies are then adopting competitive strategies to be able to survive the high competition in the industry. For instance, many companies are looking for the best ways that can make them operate at low costs to be in a position to offer competitive pricing strategy in the market. Besides, the many companies are trying to automate most of their operations as a strategy of reducing the costs of operations (Kotler, 2012).
3.1 Market Analysis
Marketing Objectives of the company include achieving competitive advantages in the market, increasing the sales volume and making the products of the company popular. The company is planning to achieve these objectives by investing in research and innovations where the products will be made unique in the market by being innovative in designing the products. Through research, the company will be in a position to ensure that the products offered are relevant as it will ensure that the interests of the customers are considered in the process of developing the products. Besides, the taste of the customers is said to be in a constant change hence adjusting the product development to meet the changes is crucial for the success of the company in the market.
The target market includes the working age and the young generation who have income that they can spend in eating out. Therefore, the organization will be using social media platforms like Twitter to market the products as the target market is comprised of the young generation who are frequent users of social media.
3.2 Company Summary
Settebello restaurant has proved to be competitive in the industry where it has been utilizing the current technology in its operations in the process of achieving competitive advantages. The company has ensured efficiency and effectiveness in its operations where it has managed to compete well as it has been associated with high-quality services. Besides, it has been adopting differentiation strategy to make its products different from those of the competitors hence able to survive in the competitive industry.
3.3 Products Overview
The products of Settebello Restaurant are associated with high quality as the company has built its brand image through ensuring that it offers high-quality products. Besides, the products have unique features due to the innovative designing process that has ensured that the products are competitive (Schultz, 2013).
3.4 Environmental Analysis
The business environment has been a constant change due to the changes that have been taking place. For instance, there has been a change in the technology use where the many businesses in the industry are adopting the technological advancements in the operations to enhance their service delivery. Besides, the changes in the preferences of the consumers in the market are making the business environment keep changing in the process of adjusting to the changing preferences.
3.5 Customer Analysis
The customers in the market are very sensitive to fluctuations in price as many companies are offering same products. A slight change in the price is likely to result in a significant change in the market demand. As a result, the customers are likely to switch to the products of the competitors in case the company raises its prices. Settebello Restaurant has been changing low prices as it has been able to reduce its costs of production through automating its operations hence making its products competitive in the industry.
3.6 Competitors Analysis
The level of competition has been increasing due to the increased use of technology. Many companies operating in the market are working towards achieving competitive advantages in the market through being innovative in the process of designing their products. As a result, the market has become very competitive where organizations are adjusting their operations to achieve competitive advantages. Settebello Restaurant has ensured that it remains competition by remaining innovative in its operations.
3.7 SWOT Analysis
Settebello restaurant has enough capital to adopt competitive strategies
It has managed to automate its operations.
The costs of production have been increasing
Settebello restaurant does not have enough skilled employees to assist in aching competitive advantages.
Growth of the fast food market
Changes in consumer tastes
The implementation of this marketing plan will play a crucial role in making Settebello Restaurant competitive in the industry. The products of the company will be made popular in the market where they will be associated with increased quality hence making them competitive. Besides, the sales are expected to increase as products demand will increase due to the high quality and innovative features that can meet the needs of the customers. This is because the company will be able to design its products in a way that can satisfy the expectations of the customer as the customers will be in involved in the designing process. The marketing plan will assist the management to keep pace with the changes hence ensuring that the making activities are relevant in the industry. The marketing manager will be in a position to adjust the marketing activities to meet the changes in the consumer taste. As a result, the designing of the products will be tailored in a way that can assist in meeting the market demands (Gordon, 2011).
Gordon, Ross, 2011. «Critical social marketing: definition, application, and domain.»Journal of Social Marketing: 82-99.
Kerin, Roger A. 2012. Marketing: The Core. McGaw-Hill Ryerson. p. 31.
Kotler, Philip & Keller, L. Kevin, 2012. Marketing Management 14e. Pearson Education Limited 2012
Schultz, Don E; Tannenbaum, Stanley I; Lauterborn, Robert F, 2013, Integrated marketing communications, NTC Business Books