Marketing Strategy, I Finished Parta Essay

Pages: 4 (1398 words)  ·  Bibliography Sources: 10  ·  File: .docx  ·  Level: College Senior  ·  Topic: Business - Advertising

SAMPLE EXCERPT . . .
3.2. Aim of the strategy

The currently proposed strategy aims to improve the aspect of the Searabol restaurant, with a final objective of raising more customer interest. Specifically, it is hoped for the strategy to increase the satisfaction of current customers, but also to help attract and retain new clients. In other words, it would address the weakness of lack of investment in interior and exterior design and would also strive to seize the opportunity of an increased number of potential customers.

3.3. The target market

The current strategy is more generic, striving to appeal to customers in all segments. Still, in order to ensure consistency, it would be aligned with the first strategy proposition. In this line of thoughts then, the primary target market considered is that formed from young adults.

3.4. Positioning

Through a combination of the two strategic approaches, the positioning strategy at this level would be one in which the Searabol restaurant is promoted as a fresh and intriguing alternative to traditional dinning. It would provide customers with the chance to enjoy unique food products, in a pleasant, open and friendly ambiance. At the level of the ambiance, this is expected to integrate a combination of modernism and simplism, alongside with elements from the Korean culture and cuisine.

3.5. The product

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The products served at this stage of the organizational change would not suffer major modifications, due to the fact that the offer of the restaurant is popular among the customers. Support would nevertheless be granted to the creation of more cost effective meals which are more financially accessible to the younger population on restricted budgets.

3.6. Recommendations

At this stage of marketing strategy proposition, the Recommendations to be made fall into two categories. The first of these sets of recommendations is represented by financial concerns associated with the additional investments, which include the following:

Essay on Marketing Strategy, I Finished Parta, Assignment

The implementation of more cost and operationally effective tools and mechanisms within the restaurant

The search for alternative sources of funding, such as bank loans or additional investors. New investors would share in the risks and profits, but would also impact the control and decision making process (Bossert, 2008). Bank loans would be more financially restrictive, but would not intervene in decision making at the restaurant (Bragg, 2011).

The second set of recommendations is pegged to the actual means in which the investments would be made towards the renovation of the internal and external aspect of the building. At this level, it is first necessary to define the elements which would appeal to the selected customer base, but also the elements which would represent the mission of the restaurant. Once this step is completed, it is recommended for a specialized team of designers to be hired and put in change of the project. The restaurant management would continually collaborate with the team and would capitalize on their expertise (Martin and Knoohuizen, 1995).

3.7. Strategy evaluation

Finally, at the level of the evaluation, this would be conducted gradually through the comparison of the investments made, its amortization in time, the new revenues generated and the increase in customers at the restaurant.

4. Conclusions

Based on the situational analysis conducted in Part A, this current part of the project has proposed two specific courses of action -- the launch of the restaurant into the social media and the sustained investment in interior and exterior design. These strategies are expected to support the company in attaining its overall objectives.

References:

Bossert, T., 2008, Methods of equity financing, GRIN Verlag, ISBN 3638068285

Bragg, S.M., 2011, Obtaining debt financing, John Wiley and Sons, ISBN 1118076451

Brooks, R., 2011, 8 ways to maximize your YouTube marketing results, Social Media Examiner, http://www.socialmediaexaminer.com/8-ways-to-maximize-your-youtube-marketing-results / last accessed on April 12, 2012

Halligan, B., Shah, D., Scott, D.M., 2009, Inbound marketing: get found using Google, social media and blogs, John Wiley and Sons, ISBN 0470499311

Klein, G., 2007, Strategic marketing, GRIN Verlag, ISBN 3638646483

Kimbarovsky, R., 2009, 10 small business social media marketing tips, Mashable Business, http://mashable.com/2009/10/28/small-business-marketing / last accessed on April 12, 2012

Mahony, D., 2004, Excel preliminary English, Pascal Press, ISBN 1877085537

Martin, J.D., Knoohuizen, N., 1995,… [END OF PREVIEW] . . . READ MORE

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