Sales and Marketing Strategy for Cook and Eat Venue

Cook and Eat is a venue for hire in Mulgrave, Australia, offering services for teaching classes, family gatherings, and weddings. The sales and marketing strategy includes social media advertising, promotional plans, and customer follow-up. The target market is the Indian community, and pricing is based on research of alternative products. Key performance indicators include likes, engagement, and social shares.

Managing innovation and entrepreneurship
Cook and eat
Cook and eat is a place designated for hire at Mulgrave-
Australia. The place can be hired by people doing different
functions such as teaching classes, family gathering or
wedding. Even if this is not a hotel the owner incur labor
related costs such hiring of watch man, those to clean the
place and also some to keep administrative duties. Other
services offered includes, clients can cook for a large group
of friends and then serve and enjoy the food in adjacent
that they can dress and decorate in the way they want.

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Sales and marketing strategy and budgets
• The objective of marketing in cook and eat place is to increase the number of customers visiting the place. As
the sales and marketing activities are increases, the information about the place will reach more people thus
the visits will increase. Some of the marketing activities will include the use of social media in advertisement
such as instagram, facebook, twitter and snapchat. From the research majority of Indian origin people in the
area uses social media meaning it would be easy to reach as many people as possible (Westwood, 2013). The
venue will open a social media accounts where the venue will be advertised. Also, members will highest
number of followers in the venue will be used to advertise the venue. In some cases, the management will use
top bloggers to advertise the venue so that many people would learn about the place.
Promotional plan
• Just like advertising promotional plan is marketing tools which is aimed at reaching as many customers as
possible. However, this tool is mostly used in launching or expands the services or product to reach into new
verticals or demographics. The venue will also use this tool in order promote the message in order to reach the
intended audience, in order for the target audience to understand the message and lastly for them to take
action.
Marketing strategies
Customers’ follower
• To have the best sales strategies in the market, we will make sure we follow-up all the customers who had
visited the venue to know if they were satisfied with the services offered and the likelihood of coming back
again. We will be able to know the venue’s weakness and opportunity and utilize them accordingly

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The potential customers
• The business must realize all the potential customers in order to utilize an opportunity the
moment it arises.
Revenue forecasts
• The primary function of every business is to generate revenue. The revenue realized by the
company is used to cater for all company’s cost such as paying of the employee, hiring
equipments, cleaning services, paying for the venue and the remaining money is recognized as
the profit. Any company operating at a loss will end up closing all its branches and lastly end up
dead. However, when trying to make a profit, it must put the customer’s need on the back of
their mind (Danninger, 2015).
Income and costs for the members
• Even if the revenue does not sell food staffs and encourages people to carry their own foods,
member may decide to come up with an idea which generate income such selling of
merchandise such as t-shirt which also is used to advertise the venue. Also, participant fees for
all people who are willing to join the venue may also be used a source of income. Cook and eat
is a venue forecasting its revenue annually as follows although all are assumption figures

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Profit or Loss Amount
Income
Participant fees $2,350
Merchandising sales $8,000
Total income $10,350
Costs
Salaries $100
Venue hiring $3,000
Equipment hire $1,500
Cleaning services $1,050
Travelling costs $700
Total Cost $ 6,350
Profit $ 4,000

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Key performance indicators
• A key performance indicator (KPI) is a measurable value that demonstrates how effectively a
company, firm, institute or business is achieving key objectives. Some of the indicators which
will be used to measure KPI in cook and eat are likes, engagement, social sentiments, social
interactions, and social shares, web visitors from social channel, follower’s growth and social
• Visitor’s conversion rate among others means.
Pricing compared to alternate products
• Pricing of products can be a very challenging task. This can be more challenging mostly when
it comes to venue hiring. This is because when the products are highly priced some
customers will start looking for alternative products and also when it’s lowly priced the
company might make a loss. Due to this, managers make a tough decision in which both the
company and the customers will be satisfied. Cook and eat company have conducted enough
research about the price of alternative products in the market and have agreed the desired
price for its products which neither the company nor the customers feel un-ease (W. Chan
Kim, 2012). However, the prices are not fixed as it’s bound to changes as an alternative
product’s price changes.

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Advertising and promotion activities
• The company conducted some research on advertising and promotions. Also, the
company knows that customers must kept updated about the company’s new and
existing products and the only right way to update them is through adverting and
promotions. The target market for the company is both old and young people.
Venue for hire is used by through conducting classes such as cooking classes and
also hosting other events, on the old, the place is hired so that they can hold
activities such as wedding and come together which is associated to old people.
Target market
• Our main target customers will be people from Indian community living within
this area. The selection of target customers was reached after an agreement with
other stakeholders. The organizers believe that targeting Indian community at the
long run will yield more income. In order to reach them, different advertising
strategies will be used such as.

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Use of local dailies
• A research shows that, majority of Indian community living
around the revenue and Mulgrave-Australia at large can read
and write meaning one of the best ways to reach them would
be using newspaper and magazines
Use of mainstream media
• Another perfect way of reaching as many people from Indian as
possible is through mainstream Medias such as television and
radio. The revenue can utilize all the media houses
broadcasting using the language mostly used in Indian in order
to reach as many people as possible (Hackley & Hackley, 2014).

Exit or growth strategy
• In many cases, a successful company is supposed to assume an exit
the moment it achieves its long-term strategic vision. However, the
company must understand that the vision can only be realized by
only executing an effective growth strategy. In many cases, the
company plans for growth strategy if it is making enough profit to
sustain its self in the market. This means that the company can fund
all of its projects in the long run. However, the company is making
continuous losses; the company is supposed to plan for an exit
strategy. In our cook and eat hotel as we show in the above
discussion the company is making enough profit thus it must
arrange for growth strategy (Kumar, 2014). The gain realized from
the company sales can be used to fund the growth strategy in the
company.

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Stages of potential growth
• Every company has five stages of growth seed and development, startup, growth and
establishment, expansion and lastly maturity and possible exit. Cook and eat potential
hotel growth is when it is at growth and establishment stage. At this stage, the investor
must put a lot of resources into the hotel to grow and develop in the long run. One
should understand that the more the resources, the higher chances of growth. Also, the
company must introduce a new product at this stage because this is the stage where
the company enjoys the highest number of customers who would consume the said
newly introduced product (Hawken, 2013).
Additional investment
• The owner must seek to look additional investment at the expansion stage. At this stage
the cook and eat hotel will explore additional capital for expansion and start operating
in the new market. Also one must understand that this is the stage where the profit is at
its maximum. If the owner of cook and eat hotel decides to sell the hotel, he can do it at
maturity and possible exit. At this stage, the owner is ready for departure from the
market and the business is ready for new management (Hill, et al., 2014).

References
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International monetary fund.
• Hackley, C. E. & Hackley, R. A., 2014. Advertising & promotion. 2nd ed. Los Angeles: SAGE.
• Hawken, P., 2013. Growing a business. 4th ed. New York: Simon and Schuster Paperbacks.
• Hill, C. W. L., Schilling, M. A. & Jones, G. R., 2014. Strategic management: an integrated
approach, theory & cases. 2nd ed. Boston, Massachusetts: Cengage Learning.
• Kumar, D., 2014. Enterprise growth strategy: vision, planning, and execution. 2nd ed.
Farnham, Surrey: Gower.
• Rupert Pearce, . B., 2015. Raising venture capital. 4th ed. Chichester, West Sussex, England:
John Wiley.
• W. Chan Kim, . M., 2012. Blue Ocean Strategy, Expanded Edition: How to Create
Uncontested Market Space and Make the Competition Irrelevant. 3rd ed. Boston: Harvard
Business Review Press.
• Westwood, J., 2013. How to write a marketing plan. 2nd ed. London; Philadelphia, PA:
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