This report analyzes Rashays Australia, a casual dining restaurant chain, using a SWOT analysis to identify strengths, weaknesses, opportunities, and threats. It then provides recommendations for new product development, technology enhancement, and marketing strategies, including a segmentation analysis of the target market.
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Table of Contents INTRODUCTION...........................................................................................................................3 SECTION 1................................................................................................................................3 Back ground of the company......................................................................................................3 Introduction to task, definition, purpose and value of SWOT analysis for organisation............3 Introduction to company, its relevant history, current market and product lines.......................4 SECTION 2.................................................................................................................................5 SWOT analysis..........................................................................................................................5 SECTION 3................................................................................................................................7 Recommendation.........................................................................................................................7 CONCLUSION..............................................................................................................................10 REFERENCES..............................................................................................................................11
INTRODUCTION Marketing is the activity, set of institution, and process for creating, communicating, delivering and exchanging offerings that create value for customers, clients, partners and society at large (MACQUILLIN, 2016). It includes identification of product, determining demand, its pricingstrategy,selectinganddistributionchannelandalsoincludesdevelopingand implementing a promotional strategy. In this report organisation chosen is Rashays Australia, is an Australian restaurant franchise causal dining restaurant chain established in Australia. They develop and promote internally, experiencing individual with a high level of business acumen who are willing to present fresh ideas with their unique culture. Herein, respective organisation have selected a new product in their offerings that is Hershays Australia which is famous for its outclass food. This report is going to analyses its current market, product lines and its internal andexternalmarketingenvironmentofitsbusinessoperationandactivities.Moreover, identifying company target market based on segmentation base and adopting devise strategies that is relevant for marketing mix variable for product or services. SECTION 1 Back ground of the company Rashays Australia, is an Australian restaurant franchise causal dining restaurant chain established in Australia. It currently have 25 location feeding over 45,000 customers per week and have grow with the concept love and unique offerings (Sargeant, 2012) They are serving up great food in a relaxed dining atmosphere so that its customers can attain its better quality, affordability and enjoy their meals respectively. Moreover, as their business grow they develop and promote internally as well as seek experienced individuals with high level of business acumen who are willing to present fresh idea as they are focus on unique culture. Introduction to task, definition, purpose and value of SWOT analysis for organisation Rashays Australia is an Australian Causal dining restaurant chain operating more than 25 location and feeding over 45000 customers per week. Additionally, they have selected a new product that is Hershays Australia in their offerings to its potential customer which is know for its outclass food. Herein , the task of an organisation is to identify its target market base with propersegmentation,analysingitsmarketingenvironment(bothexternalandinternal
environment).Furthermore,adoptingdevisestrategiesthatisrelevantformarketingmix variables for new product or services. Definition of SWOT Analysis:SWOT analysis is a framework that is used by an organisationtoevaluateitscompetitivepositionbyidentifyingitsstrength,weakness, opportunities and threats (Patterson, 2015). In this tool both internal and external components are consider as both have potential impact on organisation growth in competitive market place. Purpose and value of SWOT analysis:The purpose of SWOT analysis is to assertively identify factors that influence functioning of an organisation and providing useful information in strategic planning process. Herein, with the adoption of SWOT analysis Rashays Australian can elucidate their short and long term ranges in a better ways. Moreover, it also help in identifying new marketing plans that turn into helpful apparatus for arranging and focusing on investment in adoption of new product in offering to its potential customers. Additionally, Swot analysis creates value for an organisation as it allows to evaluate their business and operating activity from all angles. Such as internal strength and weaknessas well as external opportunities and threats in competitive market place. Introduction to company, its relevant history, current market and product lines Rashays has been Australia's based family owned and operated dinning organisation, which was firstly open in Liverpool, NSW. Rami and Shannon both are the owner of this dinning organisation (Lovelock, 2017). Rashays have approx 25 restaurant outlets through entire Sydney, Central coast andthey recently opened their new outlet in Brisbane. When talking over company's history, Owner's Rami and Shannon had opened first ever outlet in city Liverpool located in New South Wales. This leading dinning outlet served meals in a restaurant, which they basically calls the “Home”. They are currently engaged in providing food products such as Pizza, Pasta, Chicken, Steak, Dessert and breakfast. The current target market is customer's of every age group, mostly above 20 plus age group. The product line of Rashays are comprises of their fully fledged menu, which includes 102 food products to be served to their customer. Along with this, every restaurant of Rashays have capacity to host group bookings, with selected restaurants offering private function rooms, with no booking fee to be paid. At one time, they generally do booking for minimum of 10 people. As per their customer's point of view, Rashays services are improving day by day with optimized quality.
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SECTION 2 SWOT analysis Apart from discussion over introduction to company and its current market, report will identify some major strength, weaknesses, opportunities as well as threats for Rashays. In the previous section, brief overview of SWOT has been given, which is general talking over this analysis. In this section, strength, weaknesses, opportunities and threats will be explained with detailed analysis (De Mooij, 2018). Also, after the analysis of SWOT, valuable recommendation will be made. The SWOT analysis for Rashays is as follows: StrengthWeaknesses Renowed brandfor dinning facility to their customer's.Fluent customer servicewith tasty food items. Products for bothpremium and affordable segmentwith discount to enhance sales of their food products. Limited food productsare the major weakness of Rashays. Also,increasing rivalriessuch as Hershey's has increased cut-throat competition for this dinning outlets. Also,going scenario of online food orderwill be threat for Rashays in the future. OpportunitiesThreat Adding Cafe businessto current portfolio will be a major opportunity for Rashays. Also, they shouldadd more products such as coffeewith differentcategorytotheirmenuportfolio. Moreover, the major opportunity for Rashays isincreased scenario of technologyinto their operation to enhance new product development and improving service at an optimized level. Increased competition rivalriessuch as KFC willbethreatforRashays,becausethis immense business deals in every kind of food products, from dinning to fast food business. In addition,Rashaysdealsinlimitedfood category. Hence, after analysing their business, it was noticed that limited food category will be threat for Rashays. Internal analysis: Strength:This detailed analysis will explained about the strengths of Rashays along with suitable opportunities for future business productivity and profitability. Given tabulation reveals that Rashays is on of the iconic brand with full-utilized services. The reason behind being “Iconic” is their fluent customer's service with right intention and motive by their employee of
this renowned dinning brand. Fluent service means they continuously asking their customer for add-on food during dinning with good behaviour and acknowledgement, till moment when customer leaves the restaurant. This has led Rashays won several renowned awards. Along with this, there major strength is that they are targeting both premium and affordability segment with their unique marketing activities. This is most courageous for companies, when they target two group of customer at one time. Rashays operations are comprises of complete focus on customer service all-together with technology movement to make it more utilized. It is suggested that they should keep their focus on maximum customer service with high quality of food products. Weaknesses:Customer service will not be suitable, until unless there should not be available food products. Rashays have limited food products, which only comprises of dinning items. In comparison to this, its competition rivalries such as KFC has offers both dinning as well as fast food products to their customer's at right centric cost. Adding fast food to portfolio would be major opportunity for Rashays, because they have menu for their customer's. In many countries, where online food order has increased convenience of the customer to eat food at comfort place. Rivalries such as KFC, Hershey's are also selling their food products through online portal, which could be major weakness for Rashays, as they are currently out of online food reach. They considered Rashays outlet as customer home, as a result, this has tackle the online food scenario. External analysis: Opportunity:In this current scenario, cafes are leading with different product offerings. Also, customer's are increasingly flowing towards Cafes. It was noticed that may restaurants has added Cafe section separately and they are doing well with both productivity and profitability. Hence, this could be an opportunity for Rashays to introduce new product or product line for future growth of their business. As, it was mentioned in the weakness that Rashays have limited food products and there are using old technology to continue their business. The opportunity here is that Rashays should engage new product development, introducing new product along with technology engagement into their business. New product such as coffee products, along with desserts and looking for Fast food will be an opportunity for Rashays. In simple words, product development will be a chance for Rashays to grow their business at the higher and optimized level.
Threat:Increased rivalries is the major threat for Rashays in operating their business for the longer period of time. Rivalries such as KFC and Hershays are required to counter by Rashays to empower their business productivity as well as profitability. Also, dealing in limited food category will be major threat for Rashays, because it will increase chance for other company to provide substitutes of the Rashays food products at the larger extent. SECTION 3 Recommendation From the above SWOT analysis, there are several recommendation, which Rashays must seen as an opportunity to grow their business into most productive and profitability manner. The major suggestion or recommendations are as follows: New product development:Due to limited menu portfolio, Rashays business has effected at the minor rate, as they need to add more product to their dinning portfolio such as Coffee products with chocolate garlic, which is very popular among entire globe. As some customer's, prefers coffee while having their dinning. In addition to this, Rashays has decided to introduce new product to add-in their current product portfolio. Technology enhancement:In the current scenario, business entities are empowered by maximum technology enhancement, which has resulted into their optimized product quality along with effective customer services. Results from maximum technology enhancement is the feedbacks & opinions from the customer's at regular period of time with service developments and changes which are to be made to convert it for profit generation. (a) Target market:The target market for Rashays will be customer above the age group of 20 years. For new product development, there will target buyer's till age group of 26 years in their initial stage to test it for future implementation into the business. For rest menu, target customer will be same. Diversification could be option, but here it will not be suggestible. Rashays will segment customer on four segmentation bases such as demographics, geographic, lifestyle and behaviour. Analysis is as follows: Demographics:Rashays will target both male and female, along with age group of people till 25 years of age for their new product fir initial stage to test opportunities for future business effectiveness. For rest menu, target market would be same. Changing in the current target market could destroy the business.
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Geographic:Rashays will segment customer's who are located in Sydney, Central and Brisbane. This dinner restaurant needs unique marketing strategies to target customer of different regions such as Perth, Adelaide etc. Lifestyle:Rashays will target their customer's with premium and affordable pattern for two haunting at one time approach to counter their rivalries. For their new product, lifestyle is majorly connected with coffee and its substitute. Because, in the current scenario, Coffee has been considered as style statement, irrespective consumer's income and expenditure. Behavioural:Here, the behavioural means the purchase pattern, which comprises of weekly, monthly, quarterly etc. It was noticed that people generally prefers coffee on either daily or weekly duration, while in case of dinning, people prefers dinning two-thrice a month. Hence, coffee will be new product opportunity for Rashays. (b) New product:For Rashays, new product will be“Cofficano”, which is made up of mixture of coffee & milk and chocolate. This new product has been decided on the basis of given SWOT analysis. The market is potential, as there is less coffee in the streets of Sydney and Brisbane etc. “Cofficano”has been taken on the basis of mixed culture of Italian-Australia. As, this is one of the new product, as initial customer involvement would be identified as lower. “Cofficano” will be sell on skimming strategy of pricing to generate sales into the initial point of time. (c)Marketing mix:The strategy for this product named“Cofficano”is comprises of four P's of marketing mix: price, place, product and promotion. Price:Rashays will use price skimming, which has been taken over to help to maximise the sales of new developed product to test its actual potential for future application into the business. The major benefit of this price is that it will allow business to maximise its revenue for early period of time to attract more price sensitive customer's. Place:As, Rashays is currently located in Sydney, Central Australia (Darwin) and Brisbane, along with this, there would be an opportunity to extend business location into the Queensland, which includes cities such as Perth, Hobart etc. Product:In the product strategy, Rashays needs to provide good quality with effective quantity measurement. Basically, this strategy deals with product measurement along with bringing change in an operation of the Rashays.
Promotion:For this new product, Rashays will use social media, sales promotion etc. to pin-point their actual & potential customer's. Social media is why because, it has attached to people's emotion, as they are highly attached with it.
CONCLUSION From the above report, it is concluded that marketing is an integral part of developing the business and promoting new products. New product development is pecuniary part of every business to target more and more customer's with enhancing the brand equity and image. It is necessary to do SWOT analysis to considered the both internal & external potential of an organisation to suggest relevant strategies & introduce any new product or services. The marketing mix is important to take decision making for the success of the products or services. Target market is important to realize the actual potential customer's for selling to them. Four base of segmentation such as demographic, geographic, lifestyle and behavioural are significant to know the each and every constituent of the customer's, which says what they actually want.
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