Marketing fundamentals

follow attached instructions closely the website has th ebusiness restaurant which you have to write about choose the Newtown one and concetrate on that one in your writing must use APA 6th eddition referencing style

Marketing
fundamentals

Table of Contents
Business Background.......................................................................................................................1
Marketing mix (4P’s framework)................................................................................................1
Competitor Analysis........................................................................................................................2
Porter's five forces model applied on Thai Pothong...................................................................2
SWOT Analysis...............................................................................................................................2
PESTLE framework.........................................................................................................................3
REFERENCES................................................................................................................................5

Business Background
The restaurant that has been taken into consideration is Thai Pothong restaurant which is
situated in Newtown district of Sydney. According to the official website of Thai Pothong, this
restaurant was established in the year of 1996 and since then it has been a favourite restaurant
and delivering tasty food to the consumers (Thai Pothong Story, 2014). It has been found that,
this restaurant's motto is to offer customers with authentic Thai food. On the other side, the
ambiance of this particular B2C restaurant depicts Thai culture which benefits Thai Pothong's
administration to offer customers with authentic Thai experience.
Marketing mix (4P’s framework)
Products: Thai Pothong restaurant is offering consumers with Thai Fish Cake, Betel Leaf
Prawn, Papaya Soft Shell Crab Salad, Golden Egg Pastry Tartlet, Deep Fry Calamari and so on.
On the other hand, some of the popular dishes that this restaurant offers are: Thai Chicken Spring
Roll, Steamed Chilli Scallops, BBQ Baby Octopus and so on.
Price: The pricing strategy that is specifically being considered by Thai Pothong
restaurant is Cost-Plus Pricing Strategy because, restaurant owners focuses on accounting all the
costs that majorly goes in a plate of food, different fixed costs related elements like payoff
(wages) that are paid to the the rent, cooks and wait staff, utility bills and so on (de Vries and
Moscato, 2019).
Promotion: Social media and digital marketing are said to be the two crucial approaches
considered by Thai Pothong in their Marketing strategy. This has given ample number of
benefits to Thai Pothong like they become able to target a wider group of population of
Newtown district of Sydney.
Place: Basically, Thai Pothong is placed at King St, Newtown NSW and it is also
performing it's operations through online channel as well. Company's own official website helps
customers in booking their orders and also they have given feature of offering customers with
performing online financial transactions (Ivanov, 2016). This has resulted into grabbing positive
outcomes in a situation like outbreak of Corona virus and so on.
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Competitor Analysis
Porter's five forces model applied on Thai Pothong
Competition in the industry: Competition in restaurant industry of Australia is really
very high in nature, which may results into negative impact on productivity and profitability of
Thai Pothong. However, because of authentic taste offered by chef of Thai Pothong, which has
made sustainability much more stronger of this particular restaurant in Newtown.
Potential of new entrants into the industry: Just because of regular change within
customer's taste needs and alterations among currents trends, it can be said that entrepreneurs do
keep their focus on launching new restaurants in Sydney. This takes company to face high risks
of loosing their customer base because of new entrance (McLean, 2019).
Power of suppliers: Number of suppliers of raw materials, vegetables and so on are high
in numbers in Newtown NSW, where it can easily be said that bargaining power of suppliers is
really very low in nature.
Power of customers: It has been found that customer's taste gets changes on a regular
basis and the reason is continuous updates in existing food related trends in Australia. Therefore,
it can easily be said that bargaining power of consumers is high within Newtown because they
already have different numbers of restaurants like Newtown Thai which is one of the famous
competitor in Newtown district.
Threat of substitute products: It can be said that Thai Pothong has high threat from
substitute products offered by different business restaurants. With the help of this, Thai Pothong
may effectively reach to a whole new level through considering new approaches as it will lead to
improve proficiency level in much effective and efficient manner. The indirect competitor of
Thai Pothong is “It's Time for Thai” which offers consumers with relatable food dishes to
customers in cheaper prices (Melara San Román, 2017).
SWOT Analysis
Strengths:
 One of the strongest element of Thai
Pothong is its authentic and delicious
food dishes offered to clients like
Steamed Chilli Scallops, Thai Chicken
Weaknesses:
 Conflict management approach which
has been utilised by Thai Pothong is not
that much effective.
 Research and Development department
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Spring Roll, BBQ Baby Octopus and
many more.
 Thai Pothong has already developed an
effective brand image through offering
authentic and impeccable Thai food
related services.
 Thai Pothong is offering their food on
different online platforms like Zomato
and so on.
of Thai Pothong is also not that much
effective which impacts negatively on
overall change management of
restaurant.
 Unity of direction is not that much
efficient of Thai Pothong that results on
resistance to change (Rainmaker,
2017).
Opportunities:
 Thai Pothong may effectively start
focusing on launching it's own hotel.
 Thai Pothong would require to make
alterations among existing dishes which
would directly improve profit margins.
 Adopting all the online channels in
which competitive organisations are
performing operations.
Threats:
 New entrance of unique Thai theme
based restaurants in Newtown district
may impact negatively on productivity
and profitability of Thai Pothong.
 Competitors keep on considering
technological updates may increase
competition for Thai Pothong.
 Health crisis like Pandemic COVID-19
may impact negatively on revenues of
Thai Pothong.
PESTLE framework Political: Change in political parties in Australia whether national or local may affect
Thai Pothong's operations like they may make alterations among existing policies and so
on. Economical: Because of health crisis like Pandemic COVID-19, it can be said that Thai
Pothong is facing difficulties in generating expected revenue and the reason was
lockdown done by national government of Australia. Social: It has been found that, Thai Pothong has considered Thai culture and it is may be
possible that customer's taste may gets change in near future, which may impact
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negatively on Thai Pothong as they would require to make alterations in existing Thai
theme. Technological: It is needed for Thai Pothong to come up with all the updates that are
taking place in technology as they would require to make alterations in much effective
and efficient manner for gaining competitive advantages (Vilá Trepat, 2016). Legal: It is require by Thai Pothong to consider all the food safety related regulations like
all imported food must meet Australia's biosecurity requirements (under the Biosecurity
Act 2015) and food safety requirements of the Imported Food Control Act 1992. Failure
into this may lead this restaurant to go through different range of difficulties. Environmental: New free ways in Newtown district may effectively lead Thai Pothong
to improve or discourage traffic flow nearby premises. A sudden influx of competitive
restaurants can have a negative effect on the bottom line.
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REFERENCES
Books and Journals
de Vries, N. J., & Moscato, P. (2019). Consumer Behaviour and Marketing Fundamentals for
Business Data Analytics. In Business and Consumer Analytics: New Ideas (pp. 119-
162). Springer, Cham.
Ivanov, S. (2016). Economic and marketing fundamentals of hotel chains. In The Routledge
Handbook of Hotel Chain Management (pp. 45-52). Routledge.
McLean, G. (2019). Digital Marketing Fundamentals.
Melara San Román, M. D. P. (2017). Introducción al marketing/Marketing fundamentals.
Rainmaker, P. (2017). Online Marketing Fundamentals: 100% Authentic, Real-World
Knowledge To Help You Grow Your Online Business.
Vilá Trepat, I., (2016). Introducción al marketing/Marketing fundamentals.
Online
Thai Pothong Story. (2014). [Online]. Available through:
<https://www.thaipothong.com.au/newtown/about>.
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