Marketing Plan for Italian Renaissance Restaurant

Running head: MARKETING
Marketing plan for the Italian Renaissance Restaurant (Assignment 3)
Name of the student:
Name of the university:
Author note:

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MARKETING
Executive summary
Marketing is an art where the sellers need to be aware of the tactics to lure the buyers. In
this, developing unique value proposition for the products and services is crucial for gaining
trust, loyalty and dependence from the clients and the customers. This can be done through
the means of a marketing plan, which enhances the awareness about the effectiveness of
the strategies. Typical components of this plan are situational analysis, target audience,
marketing objectives, budget and monitoring and control. All these elements are synthesized
in this assessment for helping businesspersons like Roberto in terms of starting self
business with safety and security from the external challenges. Consistent evaluation is
crucial in terms of upgrading the standards and quality of the services and gaining large
scale customer satisfaction.

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MARKETING
Table of contents
Introduction............................................................................................................................ 4
Insight into Australia as a prospect for business.....................................................................4
Situational analysis.................................................................................................................5
Target market......................................................................................................................... 9
Objectives and goals............................................................................................................ 12
Strategic marketing mix........................................................................................................13
Budget.................................................................................................................................. 15
Monitoring and control.......................................................................................................... 15
Conclusion........................................................................................................................... 18
References........................................................................................................................... 20

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MARKETING
Introduction
Planning is
crucial in terms of achieving the outcomes
according to the requirements.
Consideration of the goals and objectives
is assistance for aligning the performance
on the right track. Short-term goals are apt
for laying strong foundation to the plans.
Allotting time for completing the tasks is
assistance for securing the future. These
aspects prove true for marketing, which
requires proper planning for luring the
customers (Chernev, 2018). This
assignment develops a marketing plan for
Italian restaurant, Renaissance.
Insight into Australia as a
prospect for business
The
market is such, which supports
technological innovation. The threat of
new entrants is low, which is an
advantage for businesspersons in terms of
securing the business. High bargaining
power of the buyers aggravates the
complexities in terms of efficient execution
of the operations (Abs.gov.au, 2019).
Over-expectations lead to exploitation of
the resources, ending up in loss for the
companies and organizations. High
saturation of the market is also an issue in
terms of competing with the contemporary
brands.
Employment
legislations would be an opportunity for

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MARKETING
Roberto in terms of standardizing the
restaurant business operations. Moderate
supplier power is beneficial in terms of
averting the instances of resource
inadequacies (Abs.gov.au, 2019). The
customers are cooperative, which is
needed in terms of upgrading the
standards and quality of the services.
However, fluctuation of the buyers is an
issue, which needs to be deal with proper
strategies like product differentiation and
strategic alliance with the contemporary
brands.
Situational analysis
In the
present era of competition, innovation in
the products and services are needed for
luring the customers. Herein lays the
effectiveness of the product diversification
strategy, which helps in expanding the
business to the extent of the foreign
markets (Bagozzi, Rosa, Celly & Coronel,
2018). This innovation can mean
refreshment of the existing goods,
reposition of the products or rejuvenation
of the products and services.
Businesspersons like Roberto are
common, as they lack the proper planning
skills for the maintaining the balance in the
responsibilities. The marketing concept is
based on levying best quality products to
the customers for gaining their trust,
loyalty and dependence.
Wagner
and Eggert, (2016) is of the view that by
conducting the value chain analysis, the
marketers get assistance for excavating
the original value proposition, which
secures the market position. Marketing
objectives are vital for setting the activities
on the right track. Rational thinking is an
essential component in this aspect for the
solving the complicated problems, which
can stall the path to enhance the
organizational effectiveness of the
restaurant, Renaissance (Homburg, Jozić
& Kuehnl, 2017).

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MARKETING
Roberto and his wife planned to
open a restaurant for which they took a
loan from his parents. The restaurant was
opened in a mall named Strip mail. The
settings of the restaurant are such that the
customers can easily access the services
at the night time. Before this, there were
two shops in a café in the Woolworths
market, which did not run for a long time.
Watrobski, Jankowski and Ziemba, (2016)
proposes that overstating income, poor
management, high rents and dwindling
sales assisted Chiristina to consider it as
an opportunity for increasing the value in
the business through increasing the sales
revenue. 7 years ago, Roberto invited his
brother, Micheal to join him in the
business.
Deal was
made for taking 25% of the business.
Commitment assisted in establishing the
business according to the plans. Michael
works in the kitchen, where his
qualification in TAFE helped in performing
the operations of a cook. On the other
hand, Philips is in charge of managing the
front house operations. He is well
acquainted with the operations, as he has
studied hospitality management from a
university. According to the arguments of
Järvinen and Taiminen, (2016), this
partnership is a productive one, as the
focus is on maintaining the stability in the
relationship.
Christina is the claimant of 25%
share of the business. This is the reason
for which the customers perceive her as
Roberto’s boss. The vacation has acted
assistance for Roberto in terms of
experimenting with renovation plans for
enhancing the attractiveness of the
restaurant. Dedication and commitment of
Robert has lured Christina. According to
the plans, the sight view from the
restaurant needs refreshment. However,
there is lack of clarity in the ways and
means to achieve this renovation. Adobe
stock images have helped the brothers to
construct the pictorial architectural plan.