Marketing Plan for Italian Restaurant: Catch of the Day

This report outlines a marketing plan for an Italian restaurant named Catch of the Day, including an overview of the business idea, PEST analysis, competitive analysis, and target market suggestions.

BMM 3013

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
An overview of the proposed business idea...........................................................................1
Evaluate the external environment using PEST analysis.......................................................2
Discuss the various competitors and what competitive advantage does the organisation has3
The suggestion for the target market for the proposed business idea.....................................3
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................6

INTRODUCTION
The marketing plan is defined as the operational document which outlines the
advertising strategy which an business organisation will implement in order to generate
leads and reach its target audience. It is very important for every business organisation
to identify the impact of the various internal and external factors. It is very important for
an business to be aware of the competitors in the market. It is very important for the
business organisation to use various marketing strategies in order to develop the plan in
an effective and efficient manner(Baena, 2019). The business idea which is taken into
consideration for this report is the Italian restaurant. This report will include a
marketing plan in which the overview of the business idea, PEST analysis, various
competition within the market and at last the target market for the organisation.
MAIN BODY
An overview of the proposed business idea
The business idea which is taken into consideration is opening of the Italian restaurant
within the streets of Lindon, United Kingdom. This is the idea which will be beneficial for the
people in order to enjoy with the new dishes . As it is identified that the food service industry is
the most fastest growing industry. In order to follow the trend within the market it is very
important to identify the target market and their taste and preferences in order to build the Italian
restaurant in an effective and efficient way. The business idea is to include the dishes with
different taste and launching the restaurant in a area where there is societies(Cheng, Lee . and
Li, 2021). The restaurant will maintain the quality of food and use the different marketing
strategies in order to attract customers. The name of the restaurant will be The Catch of the Day.
People can enjoy their Brunch, lunch and dinner which will open from 8am to 11 pm. The
interior design of the restaurant will be in such a way that it is eye catchy in order to attract
customers. The restaurant will include the Italian dishes such as pasta, pizza in a different
manner. There will be staff of at leat 15 members which will handle the service areas. It has been
identified that in order to attract customers it is very important to make the place happenings and
environment clean. In order to meet this requirements the marketers organisation can focus on
developing the interior which is filled with the greenery and fresh flowers. At every table there
will be bunch of flowers which will make the table attractive.
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Evaluate the external environment using PEST analysis
It is very important to evaluate the external factors in order to develop the marketing
strategies in an effective manner. The marketers can focus on analysing the external environment
using PEST analysis. This is the model which helps the marketer in order to identify the
influence of the external factors over the business organisation. The various factors are discussed
below; Political- This is the element which is related to the extent to which government policies
may interfere within the business enterprises. Such factors include tariffs, trade policies
etc. as it is identified that Brexit can impact the business organisation because of the
septation from European Union this is the external factor where the government policies
can impact for the restaurant. The marketer need to be aware of the various policies
before conducting the business operatisations within the country.
 Economical- This is the element which is directly impacting the organisation with the
performance within the economy or world. Such factors include inflation rate, interest
rates, taxation etc. it is very important for the marketers to analyse this factor in order to
be aware of the various interest rates which can impact the business organisation. As the
rise in the inflation rate has impacted all over the world(M.Á., J. and Group, 2021). There
was increase in the price of the products and services which has declined in the demand
and this made losses to the organisation. The restaurant can be impacted because of the
inflation rate and rise in the products can increase the cost of production for the
organisation.
 Social- This is the element which is related to the current trend in the market which can
impact the business organisation. Such factors include lifestyle, attitude, behaviour etc. it
is very important specially for the food industry to be aware of the current trend in the
market in order to meet the expectations of customers. As this has a both negative and
positive impact over the business enterprise(Ferrell, Hartline and Hochstein, 2021). For
the market it is very essential that it focus on identifying the taste and preferences of
customers in order to build the dishes according to them and include those aspect within
their menu which will help in attracting customers.
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 Technological- This is the factor which is related to the innovation and development
around the world which can impact the business organisations. Such factors include
research and development, automation, digitalisation etc. this is the most important factor
which need be addressed by the marketer and the organisation ned to adopt the latest
technology in order to attract customers. The use of the right technology plays important
role in conducting the business operations effectively.
Discuss the various competitors and what competitive advantage does the organisation has
Competitive analysis is of great significance as it determines the various factors which may
effect the business. The various competitors which the Italian restaurant( Catch of the day) have
are the other Italian restaurants situated nearby the location and the ones which are offering
related authentic and similar dishes may be a threat to the restaurant as they may drag the
customer's from the enhanced taste and quality(Karmys. and Bastaubayeva, 2018). The
restaurant is providing various experimental dishes which none of the competitors offer till now
and the classic interior and hygienic environment is a competitive advantage the restaurant holds
which enables a company to gain share in the marketplace.
The suggestion for the target market for the proposed business idea
In context to the report let's have a look at the STP model which is a model helps to determine a
particular segment for audience with common interest and characteristics of similar traits and
targeting the customers group we are trying to market and reach the product in order to generate
better revenue and sales out of it and positioning our product in the market by attract the target
audience(Massa, 2020). In this particular model three elements plays the role which are-
 SEGMENTATION: It means the division of any area into segments, parts in order to
attract customer and business on the basis of their common interest and same
characteristics(Petrauskas, Jasinevicius. and Meskauskas, 2018). In our report of Italian
restaurant the segmenting the customers on the psychographic basis which means
segmenting our customer's on the basis of their lifestyle,personality and values.
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Segmenting on this basis will include the price ranging from high prices to low
prices ,services offered and additional services to improvise the status of restaurant ,type
of customers whether higher class,middle class or low class, different dishes offered
innovative and experimental this all factors should be considered while segmenting our
different groups of customer's.
 TARGETING : It means targeting the consumers particular group to which we are trying
to offer our products in order to increase our profitability and revenue of the restaurant.
Here we are targeting the high class society people to which hygiene, taste and pleasant
environment matters and they are the people who mostly prefer the fancy kind of food to
suit their standards and personality here the Italian restaurant is offering its services in a
very well and high class manner because of which it is thinking to target the high class
people to increase the profitability of the restaurant by targeting them as they are the
people who mostly visits the Italian restaurants.
 POSITIONING : It means to reach out product and services to the ultimate customers of
the targeted group by locating the uniqueness in our products , why our products are
better then all other competitors(Weerawardena, 2018). In the case of Italian restaurant
they are serving and presenting their dishes in the stylish and in a professional manner
which attracts the customer to order it to take pictures for their social media and have it,
good food quality which attracts customers which are concern about their health and
looking to eat food at a pleasant environment with positive vibes, it is including
experimental elements in their dishes and innovation then the other existing restaurants in
the market, good menu price to attract customer's of all the different classes this all can
help to win a position in the marketplace.
CONCLUSION
In this report the market research has been done for the opening of an Italian restaurant named
Catch of the day to have a business plan through which we can analyse the factors which may
impact and the business and how the business should be run. Here evaluate the various external
forces which may impact the restaurant which includes the PEST analysis, performed a
competitive analysis, what the target market we need to focus on, discuss the business we
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expertise in and goals, objectives and visions related to that, discussed SWOT analysis of the
business, research of the product, price ,place and promotion element and then discussing the
investment requirement and from where we can fund the business from.
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REFERENCES
Books and Journals
Baena, V., 2019. Global marketing strategy in professional sports. Lessons from FC Bayern
Munich. Soccer & Society, 20(4), pp.660-674.
Cheng, L.C., Chen, K., Lee, M.C. and Li, K.M., 2021. User-Defined SWOT analysis–A change
mining perspective on user-generated content. Information Processing &
Management, 58(5), p.102613.
Espinós, J.J., Fabregues, F., Fontes, J., García-Velasco, J.A., Llácer, J., Requena, A., Checa,
M.Á., Bellver, J. and Group, S.I.S., 2021. Impact of chronic endometritis in infertility: a SWOT
analysis. Reproductive BioMedicine Online, 42(5), pp.939-951.
Ferrell, O.C., Hartline, M. and Hochstein, B.W., 2021. Marketing strategy. Cengage Learning.
Karmys, G. and Bastaubayeva, A., 2018. SWOT and PEST analysis of HR-processes
digitalization in the public service of Kazakhstan. Public administration issues, (1),
pp.140-163.
Massa, M.L., 2020. Ready2Eat: reinventing the restaurant experience.
Petrauskas, V., Jasinevicius, R., Kazanavicius, E. and Meskauskas, Z., 2018. CWW elements to
enrich SWOT analysis. Journal of Intelligent & Fuzzy Systems, 34(1), pp.307-320.
Weerawardena, J., 2018. Non-profit marketing strategy. In Transformational leadfor profits and
social enterprises (pp. 142-163). Routledge.
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