Marketing and Responsibility

Running head: MARKETING AND RESPONSIBILITY
MARKETING AND RESPONSIBILITY
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1MARKETING AND RESPONSIBILITY
Abstract
Restaurant A, which is an owner-managed restaurant, is planning to open up a new
restaurant, Restaurant B in Chinatown, London, in the form of a coffee shop. Just like any
other new venture, this business to needs a thorough market research. The report lays out the
several aspects, which it must consider to make its business successful in this new location,
like marketing objectives, coming up with a proper USP, and pricing strategies.

2MARKETING AND RESPONSIBILITY
Table of Contents
Introduction................................................................................................................................3
Market analysis..........................................................................................................................3
Demand evaluation.....................................................................................................................3
Market segment..........................................................................................................................4
Potential average spend..............................................................................................................4
Key stages..................................................................................................................................4
Analysis of features....................................................................................................................5
Possible opportunities................................................................................................................5
Assessment of constraints..........................................................................................................6
Possible marketing objectives....................................................................................................6
Pricing strategy...........................................................................................................................7
Two factors to affect revenue.....................................................................................................7
Three factors to affect profitability............................................................................................7
Conclusion..................................................................................................................................8
Self evaluation............................................................................................................................8
References..................................................................................................................................9

3MARKETING AND RESPONSIBILITY
Introduction
Restaurant A, is thinking of opening up a new restaurant, which would referred to as
Restaurant B for the purpose of this report, near Chinatown, London, UK. This calls for a
comprehensive report which the owner of the restaurant will consider before opening up the
branch, helping him to market and sell appropriately in accordance with the market
dynamics, which make the venture a profitable one. This is the reason why the main thing to
consider in this regard, is the type of restaurant which Restaurant would be, and the
competition which it would be facing. In this report, Restaurant B would be a coffee shop.
The research that has gone behind the preparation of this report is a secondary one, seeking
information from organizational websites and academic journals.
Market analysis
According to Yelp.co.uk, coffee shops near the area of Chinatown are very
homogenous in nature. This is because, most of them are focused upon making sure that the
food and drinks are good and up to the standards. Reviews in Yelp suggest that the coffee
shops in the vicinity are mostly focused upon the main product, which is tea and coffee, and
confectionary (Yelp 2019). However, the pictures retrieved from the website suggests that
none of the coffee shops have an appealing lighting or interior. This is something which the
new branch can build up, in order to attract more customers, besides keeping up with the
quality of the main product. If that is the case, then Monmouth Coffee and Fabrique Bakery
would be its top competitors, since these have the most appealing interior amongst the rest of
the coffee shops, and they also have a good review on the food and drinks that they offer.