Online Essay Writers on Marketing Paper Sample
Marketing Plan: Middle East Restaurant A marketing plan is a written business document that specifies in details the goals, schemes and plan to gain and maintain a competitive advantage. It is important for the top management in an organization to have a planned marketing strategy that is implemented by the employees. A marketing plan promotes a long-term view of an organization and it induces thinking to use the company resources better. Generally, a good marketing plan will concentrate on the company’s strengths and will help in preventing recurrence of company’s past mistakes. The target market is the group of customers that the company wants to attract with the services or product they provide. The long-established approach to producing a marketing plan is established on four factors; having the right product or service, the right price, the right place at the right time, and promotion to the chosen intended market (Kotler, Philip and Kevin 25). These four components are frequently referred to as the ‘4 P’s of the marketing mix’. Product refers to the features, benefits, instructions, warranty, quality, packaging and branding as well as the tangible goods, services or product lines. Middle East is one of the specialty restaurants that provides Arabic food. The three factors that they consider when referring to price are reliability, service product mix and standards gap (Kotler, Philip and Kevin 25). Reliability is the ability of the business to consistently perform its intended function on demand without degradation or failure. It is a business approach that helps in attracting and retaining customer since they are served at the right time they need the product and with the right quality they expect. For example, the Middle East Restaurant can maintain its production to the customers by consistently providing quick quality production and services at breakfast, lunch and dinner. Service product mix is where the business involves both a physical goods and intangible service and usually the quality of service is more important than the tangible product. For example, the restaurant provides high quality food by employing the best chef who can be supervised by experienced experts in the field (Kotler, Philip and Kevin 26). This can also be achieved by better training of the current employees so that in future the business can have more experienced workers hence business growth. Online Essay Writers will provide Standards gap is the disparity between the management’s view of consumer’s prospect and the standards set up by the business for service delivery. For instance, the restaurant provides a variety of products and the customers has the opportunity to make their own order based on what they prefer. This helps the customers make better choices on the variety of food provided by the restaurant. Price is the amount of money that clients have to pay while making purchases. A business set their prices according to the quality of product and service they provide. For example, the restaurant’s products are highly prized since they are targeting middle and upper class individuals and that they provide quality food (Kotler, Philip and Kevin 25). However, it reduces their prices to attract middle and lower class individuals to infiltrate both sides of the market. Businesses may also adopt the cost base price policy in which they include the taxes, all the fixed expenses and exercise duty to fix the price. Considering the business supply, the price of the product will not be influenced much by how expensive or cheap the supplies. When the supplies are cheap, it means the business will have maximum profit, but if they are expensive, it will have to increase its price to include their profit Status quo pricing is whereby the business determines their prices according to the situation at hand. Mostly, the prices are determined by events or time. For example, in December where businesses raise their prices since due to high customers” demands compared to the mid year where the prices are relatively cheap because of customer’s low demand. Price conditions include varying the same price in some way, this is why you need a reliable online essay writer. Pricing can vary by time such as lunch special or Tuesday special, by volume, for example, buy 1, get 50% off, and the level of service such as delivery charges. Customers respond to value and the relationship between the price and the quality that is part of the value (Kotler, Philip and Kevin 27). A business can use discounting to encourage business on normally slower business days. One might be better off by increasing the price through providing a bigger portion for a slightly higher price or a smaller percentage for a cheap price. Price can also be used to gain business from competitors. A business can achieve this by having customers bringing them receipts from their rivals and in return the business provides them a coupon for a discount or a free item. Place, is where and how the business delivers their product. It is also known as channel intermediary. It is the mechanism by which commodities or services move from the service provider to the clients (Kotler, Philip and Kevin 25). For example, the Middle East restaurant establishes outlet in the place that are accessible for clients. A business can also create many outlets to where customer demand is high. It has positioned close to schools and colleges which are mostly inhabited by the youths and those who are in a hurry. Businesses can also offer the most alternatives for ordering. For instance, a restaurant can provide a menu that displays various meals, each of which comes with two appetizers, so that the customers can pick their order easily. In an area with foot traffic, a business can have a walk up window for customers to follow through. Have a specified parking area to carry through customers assures convenience as their safety taken care of and they will always be attracted back to the restaurant to the free parking area. The place should also be convenient for the business to provide after sale service such as delivering the product to the car of the customers or their house. Promotion is the inducements that market the restaurant and its food. The promotions aspect of the marketing mix treats all cases of marketing relations. One of the methods employed is advertising, which is conducted on TV, using poster sites, radio, online, in cinema, and in the press, for instance, in magazines (Kotler, Philip and Kevin 27). Other methods of promotion include sales promotions, marketing, direct mails, reliable strategies and door drops. The skill in marketing connections is to build up a campaign which uses most of these methods which will in turn provide the best results. For example, TV advertising makes people aware of a food item and press promotion offers further details. This may be backed up by in-store advancements to attract people to test the product and a payable promotional mechanism to persuade them to keep on purchasing the item. In conclusion, creating a winning marketing mix demands mixing and classification of the four elements known as the four p’s. The marketing plan formed from the marketing mix plays a major role in influencing the financial triumph of the company. With a thorough understanding of the products, the marketer can find out the proper marketing mix used to attain the preferred outcome in reaching the company’s goals. Marketing is planned to work with all the departments in determining the degrees at which the departments are most efficient and cost effective.
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