2MARKETING STRATEGY 2.1. Target Market and Positioning Statement. Target Market profile: The potential health target customers are the health conscious people. In Australia people usually follows a new trend to have diet food. Young people, who are diet conscious, are also the target customers. Generally people between the age group 18 to 34 years. Individuals who value fresh as well as packaged foods. Sushi meals are now preferred as their daily meal due to negligible fat. Differentiation base(s): Company applies unique value proposition to gain competitive advantages. It differentiates itself through effective brand strategy and price differentiation techniques. Sushi Sushi offers five of its products at a minimum rate of $4. These combos are highly attractive to the target customers. Positioning Statement: Sushi Sushi uses ‘double delicious’ to position itself successfully in the competitive Australian market (Sushisushi.com.au. 2018). 2.2. Marketing Strategy Recommendations 2.2.1. Product As per Festaet al. (2016), a product is generally a combination of all the goods and services that are offered to the potential target market. Sushi Sushi primarily sells Japanese and other items like brown rice seasoned with different flavors, Salomon, tuna and salads with high ingredient and sushi platter (Hoelet al. 2015). Sushi is introducing their new products and it would also be one of the bestselling seafood in entire Australia. The company follows a value approach system that involves selling the preferred menu items at a highly reduced price. This strategy of the organization is highly effective in attracting and retaining all the potential
3MARKETING STRATEGY customers (Srijumpa 2017). The strategy is implemented by offering all the popular items in very minimum portions. A basic combo meal is created by combining each of the food with small drinks and side dish. Several combinations of dishes are offered to appeal the various consumers’ tastes. Such as fish sandwich with onion rings or fries can be consumed as side dish. Customers are given the options to add brown rice with salmon or tuna to their orders. In addition to this, they can also up size their side dishes and order size to raise the average order size. It is vital to feature all the add-ons on their individual menu or the menu boards. High carbohydrates sea- food is beneficial to increase the consumer traffic within the age group of 16 to 34 years of age. Seasonal foods can raise the demand for the products. As people generally like to eat fish before Easters during Lent period. This would lead to production of more fish and sushi meals by promoting during this period to maximize the profits and sales. Moreover, during summer Sushi Sushi can offer more fresh salads with different varieties of seasonings. The product strategy is mostly designed to raise the visit of the customers during a certain period and it’s also directly impacts the profit margins of the customers (Dadzieet al. 2017). The product strategy of Sushi Sushi is targeted towards its core customers. 2.2.2. Promotion The major goal of the marketing strategy is to increase the awareness about the Sushi foods to the local people. It’s offering and value is to be promoted so that more and more customers can be easily attracted by the company. The message provided by Sushi Sushi will be simple that it is healthy and casual alternative restaurant. Sushi Sushi will therefore require to promote to its target market as: Print media advertising:by advertising in the weekly food and entertainment magazine it can widespread to large group of customers. This will help them to expand itself in various other cities (Khan 2014). Social media advertising is also highly relevant in the current times. Flyers:it can be used to promote and raise awareness by passing this around to the local business. In addition to this, coupons are also attached to create economic incentive for the customers. The flier should contain all the relevant information related to the restaurant. It should include address, type of cuisines, phone numbers and specials. The fliers should also be given to
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4MARKETING STRATEGY the organizations and businesses so that correspond with them. Serving the healthy foods is beneficial for all age groups. Fliers can be distributed to gyms, health food stores and families (Jackson and Ahuja 2016). The company has a plan to use their promotional strategies by highlighting creativity and taste and also the affordability related to the items within the restaurants. Generally there is lot of competition because o0f chain restaurants and it is quite difficult to compete against such restaurants. Therefore, reduced sushi items are offered during certain items of the year. Half –off appetizers also helps in encouraging the customers top dine at their restaurants (Williams 2017). It is also important to acknowledge that the people are about the discount that is offered to them. This can be done through placing the sign or banner outside the business. With the help of the internet it is also possible to promote the product to a large group of customers. 2.2.3. Pricing Strategy As the restaurants have usually a very small profit margins therefore it ids important to implement effective strategies relating to the pricing of the food in order to stay in its business. Moreover while researching fluctuations in the food prices, the prices related to its competitors as well as the demand of the customers will help in setting the menu prices and ascertaining what kind of profit can be expected (Careyet al. 2016). Sushi should initiate cost plus pricing approach to gain maximum profit. It will also include the overhead costs that generally occur while running any kind of restaurant business.; this includes wages, rent and various other overhead costs. It is highly significant to acknowledge the profit margins for the restaurants (Payne, Frow and Eggert 2017). It is important for the owners to earn a minimum profit so that the business can make worthwhile profit. Food prices also highly influences due to the some problems such as poor growing season or natural disaster. The restaurants also have very minimum or stable prices on their menu. The sushi dishes will actually earn maximum profit by establishing the price menu. The restaurant should also make sure that the high food prices should not cause the existing restaurants to lose maximum money . Rather than the sushi restaurants should set prices that should be high enough to gain a minimum profit for the company. As the target customer is young and health conscious people therefore it is important for them to keep them in mind while setting their price of their products (Thieuet al. 2017). The
5MARKETING STRATEGY health conscious segment does not like to spend money on cheap meals. They think twice before purchasing a product and would not spend high amount of money by going in a fancy restaurant. Therefore, price should be set in such a manner that should be worth its quality. Even though the people of Australia are healthy in nature, though they are highly concerned about the price of the certain products in the menu lists. The minimum price is set are $5 for a combined meal during a specific time of the business. All menu items are moderately priced with various kinds of discounts and free trials. 2.3. Conclusion and Implications A frequency program is actually a different form of product strategy that is used by Sushi Sushi. It is done to reward their customers for several times to purchase their certain food items. The target customers are actually rewarded with free drinks, coupons and meals items at an adequate item. The pricing strategy is also highly effective as the price is set at the minimum price ranges from $3.00 to $5.00. This helps in making the promotional activities for Sushi Sushi to be more profitable. Effective promotion strategies generally help in transforming new patrons into their regular customers. Sushi Sushi should make small sized advertisement to attract the potential customers and should furthermore enter into the market by building an effective sale for the product and expanding the company sales. Branding is one of the major elements to know the Australian customers. Adequate and effective market research should be used to ensure proper understanding of the market. The marketing mix that includes pricing, product and promotion strategy is beneficial enough to evaluate the reaction of the target customers.
6MARKETING STRATEGY Reference List Carey, R., Caraher, M., Lawrence, M. and Friel, S., 2016. Opportunities and challenges in developing a whole-of-government national food and nutrition policy: lessons from Australia’s National Food Plan.Public health nutrition,19(1), pp.3-14. Dadzie, K.Q., Amponsah, D.K., Dadzie, C.A. and Winston, E.M., 2017. How Firms Implement Marketing Strategies in Emerging Markets: An Empirical Assessment of The 4A Marketing Mix Framework.Journal of Marketing Theory and Practice,25(3), pp.234-256. Festa, G., Cuomo, M.T., Metallo, G. and Festa, A., 2016. The (r) evolution of wine marketing mix: From the 4Ps to the 4Es.Journal of Business Research,69(5), pp.1550-1555. Hoel, S., Mehli, L., Bruheim, T., Vadstein, O. and Jakobsen, A.N., 2015. Assessment of microbiological quality of retail fresh sushi from selected sources in Norway.Journal of food protection,78(5), pp.977-982. Jackson, G. and Ahuja, V., 2016. Dawn of the digital age and the evolution of the marketing mix.Journal of Direct, Data and Digital Marketing Practice,17(3), pp.170-186. Khan, M.T., 2014. The concept of'marketing mix'and its elements (a conceptual review paper).International journal of information, business and management,6(2), p.95. Payne, A., Frow, P. and Eggert, A., 2017. The customer value proposition: evolution, development, and application in marketing.Journal of the Academy of Marketing Science,45(4), pp.467-489. Perry, L.B. and Lamb, S., 2016. Curricular differentiation and stratification in Australia.Orbis scholae,10(3), pp.27-47. Phan, T.T.H. and Vu, P.A., 2015. The impact of marketing mix elements on food buying behavior: a study of supermarket consumers in Vietnam.International Journal of Business and Management,10(10), p.206. Srijumpa, R., 2017. What beyond marketing 3.0: The 4Ss marketing mix strategy for sustainability.Journal of Global Business Review.,15(1), pp.1-12.
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7MARKETING STRATEGY Sushisushi.com.au (2018).Sushi Sushi. [online] Sushisushi.com.au. Available at: http://www.sushisushi.com.au/ [Accessed 18 May 2018]. Thieu, B.T., Hieu, N.T.M., Le Huyen, N.T., Binh, P.C. and Hoang, N.V., 2017. Linkages between Marketing Mix Components and Customer Satisfaction: An analysis on Google in Hanoi, Vietnam.Journal of Economics & Business Research,23(1). Williams, G., 2017. Sustaining Australia's food and agribusiness sector.Food Australia,69(4), p.20.