Sarto's Gourmet Pasta Financial Review: A Pathway to Success
Added on 2019-12-28
11 Pages3044 Words1017 Views
Business DevelopmentMarketingPolitical Science
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Conduct a MarketingAudit and Report
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................31. EXTERNAL AUDIT...................................................................................................................3a) External macro-environmental factors....................................................................................3b) External micro-environmental factors.....................................................................................42. INTERNAL AUDIT....................................................................................................................4a) Identifying criteria...................................................................................................................4b) Organisation............................................................................................................................5c) Marketing systems...................................................................................................................6d) Marketing productivity............................................................................................................63. MARKETING AUDIT................................................................................................................6Situational analysis......................................................................................................................7Marketing strategy.......................................................................................................................7Financials, budgets and forecasts.................................................................................................8Control.........................................................................................................................................8CONCLUSION ...............................................................................................................................8RECOMMENDATIONS.................................................................................................................9REFERENCES..............................................................................................................................102
INTRODUCTIONSarto's Gourmet Pasta is a restaurant that operates in Graceville, Australia. This reportshall provide information regarding external and internal audit which are conducted fordeveloping better understanding of functioning atmosphere of the company. A marketing audit isalso performed and reported in this assessment for deeper understanding of company'soperations. 1. EXTERNAL AUDITa) External macro-environmental factorsThe external business environment factors which influence functioning of Sarto'sGourmet Pasta are evaluated as follows:Economic factors: The restaurant has been functioning well currently but certaindecreases in interests rates have increased profits of the company. People have gatheredmore disposable income and this has led them to explore more opportunities in spendingthis income (Abshire, 2014). Demographic factors: Steady growth of this restaurant depicts that there is continuousdemands of products and services. A large number of families have been contributingtheir household income to get their specific needs fulfilled by Sarto's. 7% growth rate hasbeen witnessed for this restaurant in region. Mostly young individuals from the age group25-50 have shown interest in eating at such restaurants. This depicts Sarto's can increaseits customer shares by targeting these customers. Technological factors: Technologically advanced equipment can be implemented forbetter delivery of products and services. This feature can be utilised by Sarto's restaurantfor attracting customers. Internet facilitation has enabled companies to market theirproducts all over the place without any extra expenditure (Ayala and et. al., 2016). Thisfactor has a positive influence on the functioning of restaurant. Political/legal factors: Business activities of Sarto's Gourment Pasta restaurant arecompletely aligned with political actions and government strategies. Current focus oflegislative party is to develop work/life balance which has influenced the employee3
working structure of the company. It has helped in enhancing employee satisfaction(Banterle and et. al., 2014). b) External micro-environmental factorsSarto's internal business environment is made up of certain micro factors which haveeffective influence on the operations and functions of the company. These are explained asfollows:Market characteristics: Sarto's Gourmet Pasta is an emerging brand. The strategies anddecisions which are developed by the company are completely in accordance with marketcharacteristics of Graceville. There are various attributes which are considered in thiscategory which include the basic profile of consumers that are purchasing or demandingfood items from Sarto's. Current functioning of the company depicts that it has anincreasing share in target markets.Customer needs: The aim to provide exotic pasta experience to consumers shall helpSarto's in developing effective strategies and meet customer requirements and needs.Since, new trends and better competitor strategies keep on replacing the current demandsof customers; Sarto's Gourmet Pasta has to develop plans for meeting set aim. Competitor factors: Despite of smooth functioning in the local markets till date, there is agrowing threat from competitors across Graceville. Henceforth, it is essential for Sarto'sto develop and evolve its products and services constantly. This shall help in maintainingexisting market share and also attract potential customers (Baumgarth, Kaluza andLohrisch, 2016). 2. INTERNAL AUDITa) Identifying criteriaThe company Ready-Made marketing has utilised internal sources of data which includefinance reports, sales figures and certain other reports for getting information regarding Sarto'sbusiness functioning. It has been evaluated that the company has not accomplished anyobjectives which were led down for future growth. Internal marketing audit has been performedon the basis of primary research for getting information (Boelsen-Robinson, Backholer andPeeters, 2015). Entire supply chain management and logistics data has been gathered through4
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