Table of Contents 2.1 Service product and positioning.............................................................................................3 2.2 Pricing strategies of Menulog organization...........................................................................3 2.4 Integrated Service Marketing Communication......................................................................4 Recommendation.............................................................................................................................4 REFERENCES................................................................................................................................5
2.1 Service product and positioning. Currently, Menulog Pty, Ltd is offering various types of food and beverages through online ordering app. It offer the products in different countries such as Australia, Canada, UK, Ireland etc. to the targeted segment of consumers. Currently, it is offering wide range of products like fast food like sandwiches, chicken, Italian food like Pizza, alcohol etc. to large number of restaurants. Menulog offer products and services on the basis of demographic factors and on the basis of geographical location such as different cities of Australia, America etc (Camilleri, 2018). According to service marketing theory, organization should make efforts for improving product positioning. Management of Menulog should develop and implement tracking system to track the process of production and distribution of food and beverages through online app. This will help to improve the features and benefits of the products. To improve positioning strategies of the company, management should firstly conductmarket research for analysing main consumers. This will help to study current position of the products in the market and demand of consumers for the products of Menulog. This will help to improve current product positioning strategies of the firm. Such as positioning through social networks etc. 2.2 Pricing strategies of Menulog organization Menulog is New Zealand as well as Australian online food and beverage ordering firm, they provide online food services to people through application. Company usespenetration pricing strategyin their business to increase profit margin as well as consumer base. According to this penetration pricing organization set product price artificially low in initial stage to gain good market share and after that they increase price of goods based on demand (Ferguson, 2014). When company offer low cost services people attract towards them, but on the other hand if they increase price consumer drive towards substitute products, so that they can manage demand and capacity with the help of price effectively. Organization can enhance and improve theircurrentpricingstrategywhentheyconductmarketresearchandunderstandwhat consumer's value. By conducting market research they can gather more information about competitive pricing strategy which helps to make its own better than the others in same market. Furthermore, firm enhance their pricing strategy related to products that they offer to consumers through online. Psychological pricing theory is one of the best service marketing concept that set mind of people in certain price of goods. According to this concept, consumer set their psychology for specific products and build positive emotional connection.
2.4 Integrated Service Marketing Communication It refers to the integrated methods which is used in managing the brand positioning in market through promoting the goods and services which is specially designed to target the customers. The marketing communication can be done on the bases of advertising, maintaining close relationship with public and also interacting with them personally to gather the reviews by availing such products (Valos and et.al., 2016). In case of Menulog, they can use this services on the bases of attracting customer through providing innovative advertising, as customer mainly attract by viewing different promotional techniques and scheme which they get by preferring such products. As by providing online services, customer need quality services at reasonable price or discount offer on particular restaurant. Thus, Menulog can use this scheme to avail the customer interest for longer time period. Thus, by choosing advertising method and taking timely feedback from customer can attract the customer scale at better level. As they can alter this service by applying the service marketing theory in which they can choose the product oriented pricing as Menulog can use this techniques as they undertake the reviews given by customer regarding the particular products (Chitty, D'Alessandro and Gray, 2019). They bring such scheme which is mainly attracted by customer and also charges less pricing. Through this theory they can reach to large number of customer and also fulfil their needs and wants in better way. Recommendation Monulog company recommended to adopt price skimming strategy which is beneficial for overall business. According to this strategy, they should high cost for goods initially that attract people and then lower it over time. This is recommended toMenulog regarding innovating the promotional technique on continuation bases. As customer are attracted if they find unique concept in company advertisement and they are attracted if attractive schemes is given on particular products whichis mostly in demand.It is recommended that, firm should introduce new features and services for the consumers on the basis of market research (Mazzola, Perrone and Handfield, 2018). Menulog should develop new product positioning strategies for effective marketing of items such as fast food, alcohol etc. It should adopt tracking model that helps to improve quality of products and satisfy the customers.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
REFERENCES Book and Journals Camilleri, M.A., 2018. Market segmentation, targeting and positioning. InTravel Marketing, tourism economics and the airline product(pp. 69-83). Springer, Cham. Chitty, W., D'Alessandro, S. and Gray, D., 2019.Services marketing. Oxford University Press Australia and New Zealand. Ferguson, J.L., 2014. Implementing price increases in turbulent economies: Pricing approaches for reducing perceptions of price unfairness.Journal of Business Research.67(1). pp.2732-2737. Mazzola, E., Perrone, G. and Handfield, R., 2018. Change Is Good, But Not Too Much: Dynamic Positioning in the Interfirm Network and New Product Development.Journal of Product Innovation Management.35(6). pp.960-982. Valos, M. J. and et.al., 2016. Exploring the integration of social media within integrated marketing communication frameworks: Perspectives of services marketers.Marketing Intelligence & Planning.34(1). pp.19-40.