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Marketing and Communication Assignment (Doc)

   

Added on  2020-10-05

8 Pages1936 Words409 Views
Marketing andCommunication

Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1OVERVIEW OF COMPANY................................................................................................1CURRET MARKETING STARTEGIES..............................................................................2MARKETING PLAN.............................................................................................................3CONCLUSION................................................................................................................................4RECOMMENDATIONS.................................................................................................................4REFERENCES................................................................................................................................6

INTRODUCTIONMarketing is a perpetual process of identifying the needs and demands of potentialcustomers and then fulfil the same by providing product and service in exchange of money(Luxton, Reid and Mavondo, 2015). For this report, Lyle's restaurant is taken for considerationwhich provides various kinds of cuisine and based on Shoreditch High St, London, UnitedKingdom. Existing marketing plan will be explained in the this report along with formulation ofnew marketing plan supported with justification and recommendations.MAIN BODYOVERVIEW OF COMPANYLyle's restaurant is one of the famous restaurant in the Britain which is based on eyecatching location of Shoreditch district. This restaurant operates on a smaller scale with feweremployees. Founder of the hotel is Chef James Lowe who carries vast experiences of working asa chief chef in restaurants and hotels like Heston Blumenthal’s The Fat Duck, Rob Weston’s LaTrompette and Fergus Henderson’s St Johns etc. Main attraction point of the place is the chef asdue to which they have gained their first Michelin star within 18 months of launching for the firsttime.This lavish restaurant comes under hospitality industry which is one of the toughest andcompetitive industry as compared to others. Environment of the industry is so competitive innature as there are more than 86 thousands restaurants in UK which are competing against eachother with the same product (Number of restaurants and mobile food service enterprises, 2019)Besides this, due to low profit margin, many owners are closing their enterprises with the aim ofreducing loss due to which approximately 10 restaurant are closing in every week (UKrestaurant numbers drop for first time, 2019). Whole sector is facing economic uncertainty dueto high number of competitors and increasing cost of the raw materials. But on the other side, itis a positive point for the remaining enterprise as their competitors list is decreasing graduallyresulting in better future. As mentioned earlier, this luncheonette has gained its first Michelin star whichconsidered various factors like quality of food, ambience, way of cooking, ingredients used etc.After getting high brand awareness in the market, Lyle has been able to attain a distinct in themarket with the help of its distinct varieties of foods and the ingredients used in the cuisine is1

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