Entrepreneurship Creativity and Marketing - Part 1 Group Presentation

This presentation discusses the launch of lunch delivering services for academic institutions and the innovative aspects of the product. It also includes a marketing plan with SWOT, PESTEL, Five Forces, and BCG analysis, as well as STP and marketing strategies. Recommendations for the business are also provided.

ENTREPRENERSHIP CREATIVITY AND
MARKETING
PART 1 GROUP PRESENTATION

Choose a product or service
 The product or service that is being chosen in the present study is
launch of lunch delivering services for the academic institutions.
 This would make sure that quality as well as fresh food is offered
to the students. The hotel taken under the present report is Qbic
hotel from UK London that is making innovation in its services

Justify why is innovative
 This is considered as innovative as through the company is able to serve the
requirements of the students in an effective manner.
 It has been assessed that there is greater demand among the customer
regarding getting the lunch in the campus.
 This is effective in terms that students need not waste their time in ordering for
the food.

Marketing plan for the product or
service with

SWOT

Continued....
 Strength: The strength of such service is that students are able to gain
quality food just through making a single order.
 Weakness: Requires specialized employees who can make food in quick
manner along with taking into account the taste of the food as well.

Continued....
 Opportunity: Expansion in the variety of the food and beverages
that is being offered to the students during the lunch.
 Threat: Increase in number of competitors that are giving tough
competition to the business.

PESTEL

Continued....
 Political: This has greater impact on the restaurant as the government
requires to have influence over the business when they make
announcement of several regulations from time to time considering the
health care of the individual.
 Economical: The fiscal policy of the government can affect the
restaurant. This presents that in case the regulatory authority impose
taxes on the customer items then in this regard restaurant has to increase
the rate of food items.

Continued....
 Social: This factor has greater impact as now a days the students have
increased awareness towards taking healthy food. Further they take food
which ensures quality.
 Technological: Several restaurant makes use of technology for the sake
of making their publicity within the market.

Continued....
 Environmental: Government has made development of several
rules and regulations in order to keep the food healthy and
nutritious for the health of individual. The change in climate is
also considered as big issue for the restaurant.
 Legal: There is presence of several government agencies that are
working towards the regular supply as well as quality of the food
products.

Five Forces

Continued....
There is greater competition among the restaurant sector. This is due to
increase in demand for the particular industry. After recession the
customers are looking towards getting good value food that is offering
greater services.
 Threat of new entrant
The threat of new entrant is high. This is due to the reason that there is
low entry barriers. In order to make innovation within the services of
hotel less amount of funds are required.

Continued....
 Threat of suppliers
The bargaining power of the supplier is low. There is low cost of
changing suppliers or switching the products for substitutes.
 Threat of buyers
The buyer's bargaining power is strong as there is no extra cost involved
in making selection of another restaurant from where the food can be
ordered. At present internet as well as social network customers possess
complete knowledge with respect to the quality, prices and offers. Buyers
have greater causal attitude as they can anytime change in case they are
not satisfied with the quality of food which is being offered by the
restaurant.

Continued....
 Threat of substitution
The competitive pressure from the suppliers who are offering substitute
products can be strong or not, depends on the product substitute. In case
there is lack of similar in the product that is offered by the restaurant then
such would assist in increasing the likeliness of the customers. It has
significant role in switching the customers to other brand.
 Competitive rivalry
The number of competitors who are offering the product to the students is
less. This implies that competition in this sector is less which represents
that there is greater scope for the business in attaining huge amount of
profitability.

BCG

Continued....
 Star: This is considered as the factor that would really shine and is
outstanding. This demonstrates the growth of the restaurant.
 Dog: It is referred to as the losing situation or the worse case scenario.
In case there is delay in the delivery of the food or the quality does not
meet the expectations of the customers then such can affects the
enhance,enhancement in the number of customers with the firm.

Continued....
 Cash cow: It reflects the time period where the firm will earn
lower growth or it would be very slow. In situation of the
vacations there is less sales of the food products and less students
would make an order for lunch. At this point of time special focus
can be paid on delivery of food in the offices as well.
 Question mark: It presents the situation where there is lot of
growth but there is absence of higher return. This implies absence
of big return on the investment.

STP (segmentation targeting positioning)
Segmentation
 Market Segmentation is regarded as the single market which is divided into
different segments.
 The restaurant has made the segmentation on the basis of three categories.
 There is comprised of demographic as well as psychographic. In case of
demographic segmentation the restaurant would offer different schemes for
students and offices.

Continued....
Targeting
 After the segmentation the next is selection of the target market. There
is existence of three types of targeting strategies.
 It includes concentrated, undifferentiated as well as differentiated.
 The restaurant can comply with differentiated marketing strategy.

Continued....
Positioning
 The positioning is regarded as the strategy that is sued by the firm
in order to differentiate from the several competitors.
 The restaurant that is Qbic hotel would position itself in the
market as one that is making sales of higher quality of the
products within reasonable price.

Marketing strategies
 The promotional strategy of corporation is very important as it helps
business to promote the products and services at the large marketplace.
 It facilitates to integrate all resources and support business to increase
overall rate of return in the marketplace.
 Furthermore, marketing strategies for current lunch order services of
students will be related to Facebook.

Continued....
 Furthermore, discounting strategy will be used by focusing upon
customized aspect of products and services which is being provided
restaurant.
 This facilitates to attract them and retaining them for longer time span.
Along with that, Newsletter and e-mail marketing can be done by
approaching large number of consumers or students.

Recommendation’s
 According to the innovative ideas of the business, it is important for
corporation to cope up with changing scenario and deliver good quality
of services to large number of buyers.
 It proves to be effective to ensure optimum utilization of limited
resources.
 For this purpose, management of restaurant should get feedback from
consumers and accordingly services can be updated, This aids to retain
them for longer time span.
 It is because if services are of higher quality then it becomes easy to
enhance the rate of return as well as rating the offered services.

References
Haner, U. E. (2005). Spaces for creativity and innovation in two
established organizations. Creativity and innovation management. 14(3).
288-298.
McLean, L. D. (2005). Organizational culture’s influence on creativity
and innovation: A review of the literature and implications for human
resource development. Advances in developing human resources. 7(2).
226-246.

THANK YOU