Marketing Plan for Foodie Station: Understanding the Market, Investment Opportunities, SWOT Analysis, and Marketing Principles

Marketing Plan
Chernev, A., 2020. The marketing plan handbook. Cerebellum Press.
Westwood, J., 2019. How to Write a Marketing Plan: Define Your
Strategy, Plan Effectively and Reach Your Marketing Goals (Vol. 152).
Kogan Page Publishers.
Costilla Beltrán, S., 2021. Marketing plan of organisation.
REFERENCES:
The business ideas to start a new multi cousin restaurant in order to
maximise profitability by offering better quality of food items to meet
the expectations of people. For this entrepreneur needed huge investment
for installing advanced technology, recruit high skilled staff members,
rent, raw material and marketing.
Financial opportunities
Bank loan- It is most effective method to take loan form bank to start
business in less time.
Venture Capital- By proposing business idea to big capitalist,
entrepreneur of Foodie Station can attract many investors who can bring
in required funds to start the business
Investment needed and financial
opportunities
As per above information, it has been concluded that each business is
designed with aim of earning revenues by fulfilling customers needs.
Thus at time of commencing new business, an entrepreneur needs to
undertake several analysis such as SWOT, marketing mix and STP to
gain better insights of the market as well as its competition.
CONCLUSION
Business plan refers to a document which outlines objectives,
mission of a firm as well as how entrepreneur plan to accomplish
their aims. It presents a written road map for company from
financial, operational addition to marketing standpoints. Both
established as well as start-up organisations formulate business
plan to run their business for long run in systematic manner.
INTRODUCTION
• The vision of the new business concept is to provide variety of unique
flavoured food and beverages with better quality to increase customer
experience.
• Objectives to start this business concept and Foodie Station is to
attract large number of customers in order to earn maximum profit
and loyal customer base.
• The aim of Foodie Station is to increase their brand value in market
by offering better quality food items with good taste.
Overview of business
Background of the entrepreneur of Foodie Station is that he was a
manager at a restaurant form where they get a idea to start a multi cousin
restaurant.
Expertise of the entrepreneur of Foodie Station is innovative skills,
analytical skills and leadership skills which allow them to make a
effective business plan to execute their unique business idea
Background and expertise of
entrepreneur
SWOT analysis
Strengths
High quality of food and high skilled staff with technical knowledge can
be the biggest strength of Foodie Station.
Weaknesses
To attract the customers and retain them for long term can be proved as
weakness of Foodie Station.
Opportunities
New and digital marketing technology can be the opportunity for Foodie
Station as professional can use social media marketing platform to
spread awareness about their multi cousin restaurant.
Threat
Large established firm who has already good brand value and loyal
customer base can be the biggest threat for Foodie Station to achieve
their objectives
SWOT analysis
STP analysis
Segmentation- Foodie Station segregates market on demographic basis
as it wants to attract more youth and people situated in nearby locality in
the business.
Targeting- The entrepreneur of Foodie station targeted market is largest
segment of youths who are willing to spend their money on their offered
product
Positioning- As Foodie Station is categorised as luxury restaurant, thus
the entrepreneur position it at the centre of city to attract more number of
people.
Competition
Porters Five Forces analysis
Competitive rivalry
Bargaining power of customers
Bargaining power of suppliers-
Threat of Substitute
Threat of new Entrant
Marketing principles
Product- It is the commodity or service which a business render to its
customers. It fulfils certain demands and wants of customers.
Price- It is the amount customer pays for the products they use. It is
crucial element which determines firms profit and survival in market.
Promotion- It is communication process of marketing which aid firm to
promote their offering in market.
Place- It is refer to how businesses places their brand in market and what
is their distribution strategies
Understanding of market