SITXMPR007: Develop and implement marketing strategies assessment 2

Assessment 2

DEVELOP AND IMPLEMENT MARKETING
STRATEGY
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Table of Contents
INTRODUCTION...........................................................................................................................3
PART A...........................................................................................................................................3
Host interview........................................................................................................................3
Internally.................................................................................................................................3
Externally...............................................................................................................................5
PART B............................................................................................................................................6
Evaluation of opportunities that can be analysed through SWOT analysis based on Part A. 6
Develop marketing strategies for identified products............................................................7
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10
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INTRODUCTION
Marketing strategy are plan of action through which customers can be targeted. A
marketing strategy of business is based on value proposition, brand messaging customer
demographic and data on target (Adomah-Afari and Maloreh-Nyamekye, 2018). It is a long-term
approach through which business can achieve organisational goals and accomplish sustainable
competitive advantage. Through an effective marketing strategy, a business can analyse and
evaluate needs and demands of customers in marketplace. The Restaurant Group plc, is a leading
British multinational food chain. The company was founded in 1987 and it is headquartered in
London, England. the company belongs to the hospitality sector and offers the best quality
services and food to customers visiting. In the present report through using SWOT analysis,
strengths and weakness can be analysed. Through using different marketing mix strategies,
several important factors are analysed.
PART A
Host interview
Interview method is an approach of recruitment in which open end questions are asked
through which skills, knowledge and competencies are observed. Interview can be conducted by
two approaches formal and informal. In this project report, informal interview method is used to
conduct an interview between trainee and host employer (Chaffey and Smith, 2017).
Internally
Host Employer: Hello!
Trainee: Hello!
Host Employer: Do you have knowledge about day to day activities which are carried out in a
restaurant?
Trainee: Yes, the key activities which are carried out in a restaurant is related to serving people
the best food with excellent services. Thus, the core services of a restaurant are serving
customers, waiting tables, addressing queries of guests and more.
Host Employer: Do you feel any discrimination regarding age gap in organisation?
Trainee: It cannot be specifically prescribed as discrimination but in a hospitality organisation
age factor do impose significant impact over the employment career opportunities of an
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individual.
Host Employer: Do you feel any discrimination regarding cultural gap in organisation?
Trainee: I haven't felt any cultural gap as business encourage employees to share their beliefs,
values and through celebrating different festivals with all employee'.
Host Employer: Have you ever faced any inequality in workplace regarding gender or colour?
Trainee: There have been no discrimination based on gender, age or colour as organisation
aims to treat all employee’s equally no matter their appearance and their gender.
Host Employer: Do you feel organisation have ideal culture?
Trainee: Yes, The Restaurant Group plc, focuses on maintaining healthy and positive working
environment.
Host Employer: Do you prefer working independently or working in a team?
Trainee: I am a versatile individual which makes it easy for me to be comfortable in all
situations. Working with a team allows me to enhance my skills, learning and gain more
knowledge. As being a team player, it will also help in accomplishing organisational goals with
constructive decisions and within deadlines. Also, working individually I can make the best use
of the opportunity to learn and grow.
Host Employer: Are you satisfied from your job role?
Trainee: Yes, I am satisfied from my roles and responsibilities as this helps to build my career
by working with such prestigious organisation in the industry that is The Restaurant Group plc.
Host Employer: When were you most satisfied from your job?
Trainee: When I was appraised for my valuable contribution in achieving organisational goal
with innovative approaches.
Host Employer: Are you aware about core values of business?
Trainee: I am well aware about core business value of The Restaurant Group plc, is to begin
with is its diversified portfolio of multiple famous brand.
Host Employer: Are you aware about organisational mission or objectives?
Trainee: Yes, The Restaurant Group plc, holds a vision in a strategic plan that revolves around
what and where company sees itself in near future. The mission of the company holds the
strategic aims and objectives as well the purpose the existence of the entity.
Host Employer: What are current organisational goals?
Trainee: The business aims to provide best quality offerings through which they can target
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maximum customers and marketplace.
Host Employer: What are short term goals of organisation?
Trainee: To keep people motivated and inspired for attaining the best results in regards to aims
and agendas of The Restaurant Group plc.
Host Employer: How often do you participate in strategic planning?
Trainee: Most often as per the requirements of the management and the planning areas.
Host Employer: How do you evaluate effectiveness of strategy?
Trainee: Through customer’s response as well as per self-analysis while performing the job
role.
Host Employer: What were the marketing strategies which were opted by company through
which effectiveness of company can be enhanced?
Trainee: For identifying the suitable marketing strategy the external environment is studied and
as per the analysis the marketing campaigns and strategies are designed.
Host Employer: Describe current marketing strategies of business through which
organisational effectiveness can be enhanced?
Trainee: The current marketing strategies used by The Restaurant Group plc, for attracting
customers is of digital marketing and portfolio advertisement.
Externally
Host Employer: How is expected market growth or decline associated with risk factors?
Trainee: Some of the major factors which are responsible for market growth includes
innovation, quality, fulfilment of expectation and trends.
Host Employer: How is the Industry Trending?
Trainee: Through promoting and advertising
Host Employer: What labour force help organisation to function effectively?
Trainee: All seasonal and socio-economic factors help business to work effectively through
which business can gain competitive advantage by increasing sale of their product and
maximum profits can be earned.
Host Employer: What changes initiated in target market due to external or internal forces?
Trainee: Due to rapidly changing customer trends in food and beverage sector of hospitality
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industry, it affects the demand of products and services.
PART B
Through collecting all necessary information, it can be evaluated that there are various
factors which acts as opportunities and threats for business for which management used SWOT
analysis (Deepak and Jeyakumar, 2019). For analysing the impact for external factors, marketing
mix strategy have been used through which various responsible factors for change such as price,
place, promotion and product can be analysed.
Evaluation of opportunities that can be analysed through SWOT analysis based on Part A
SWOT Analysis was given by Albert Humphrey of Stanford Research Institute in 1960's.
It is a tool that access the internal and external factors of the organisation. SWOT refers to
strengths, weakness, opportunities and threats of a person or an organisation, in which strengths
and weakness are internal factors and opportunities and threats are external factors that needs to
be examined. SWOT analysis is a strategic planning technique that identifies core strengths,
weakness, opportunities and threats. SWOT analysis focuses on leveraging strengths, improving
weakness, minimizing threats and taking greater advantages of opportunities. It helps an
organisation to evaluate the improvement's needed and to develop a strategic plan for an
effective and efficient organisation (Kumar and Ramachandran, 2018). The main objective of
swot analysis is to help organization focus on all the factors while making a business decision.
SWOT Analysis helps organization to overcome challenges and acknowledge what needs to be
achieved. The SWOT analysis of The Restaurant Group plc is stated below:
STRENGTHS
 The Restaurant Group plc, holds a
strong brand portfolio which is
diversified in nature
 The Restaurant Group plc, aims to offer
high quality dishes which are trending
and most popular amongst the public.
 The delivery stage of company is low
as they focus on planning all activities
WEAKNESSES
 Increasing competition is creating a
weakness for the brand as the
competitive environment is resulting in
saturation of market and reducing
customer base.
 The rapid change taking place in social
trends in the sector is affecting The
Restaurant Group plc, as the demand
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from stage of designing till offering it
to customers through their chains.
 The company also maintain their price
by using less middle men through
which buying cost and raw material
costs are reduced and help in
maintaining budgets.
 Through collaborating with
complimentary business, it enhances
control and flexibility to The
Restaurant Group plc.
forecasting aspects are not accurate
enough also, the brand is facing issues
in making appropriate marketing
campaign for separate restaurants in the
group.
OPPORTUNITIES
 The largest opportunity which is
explored by The Restaurant Group plc,
is of expanding its portfolio which the
brand is already exploring and have
also it is part of its strategic planning
and objective (Payne, Frow and Eggert,
2017).
 The Restaurant Group plc, must
effectively position itself in market and
in the industry so that the brand can
target niche organic apparel market.
THREATS
 The major threat which was faced by
Hospitality industry in which The
Restaurant Group plc, exists is of
COVID-19 and the pandemic caused
due to the virus.
 Another threat was created by BREXIT
over the industry as fluctuations took
place and laws were changed which
made it difficult for businesses to
survive in the market and in the
economy.
Develop marketing strategies for identified products
The marketing mix strategy includes product, price, place, promotion. This model of
marketing mix helps the organization to review and define marketing strategy for the
organization. It is a framework that helps to plan marketing activities and marketing strategy for
the company. This strategy helps in promoting products and services to target maximum targets
(Perreault, 2018).
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The marketing mix strategy of The Restaurant Group plc, focuses on analysing all the P's
(product, price, promotion, place) and thus it also helps the company to grow, achieve
organizational goals and objectives.
 Product in marketing of The Restaurant Group plc
The Restaurant Group plc, provides a wide variety of products and it has also expanded
into online marketing. The major product offering of The Restaurant Group plc, is varied
cuisines and dishes through its diversified restaurant chains. The major competitive power of the
brand is its diversified portfolio of food restaurant chains offering best quality food and
beverages to all and every customer.
 Price in marketing of The Restaurant Group plc
The Restaurant Group plc, focuses on maintaining low prices without reducing the
quality of the products. The company follows the cost leadership strategy as its pricing strategy
(Rana and et.al, 2020). The Restaurant Group plc, also restructured its product management team
to give best offers to its customers. The Restaurant Group plc, provides high and best quality
products at premium prices through which they can maintain their goodwill in market. Through
minimizing cost of manufacturing, brand aims to attract wide number of customers through
which they can enhance their sale and business can make more profit.
 Place in marketing of The Restaurant Group plc
The two modes used by the company for distribution are online and offline. It shows that
The Restaurant Group plc, uses different mediums to reach out to their customers through which
maximum customer satisfaction can be achieved The Restaurant Group plc, provide their
products and services in various major cities and through franchising with partners and restaurant
chains. All the products are manufactured by The Restaurant Group plc, are freshly prepared and
offered to customers as per their demands as well as specifications provided either through
physical orders placed in the restaurant or the online orders (Shokuhi and Nabavi Chashmi,
2019).
 Promotion in marketing of The Restaurant Group plc
As the company has strong brand image in the market, that helps the organization in its
promotional activities. The sources used for promoting the brand or products are done through
digital marketing also by introducing attractive offers and discounts. The Restaurant Group plc,
also sells their products through online platforms which is itself a potential marketing and
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promotional tool. The brand use multi-channel promotional strategy through which business
aims to attract numerous customers and gain maximum profits from sale of their products by
gaining customer share and increasing customer share. With the help of PR, sponsorship and by
offering promo codes and discounts it help business to attract numerous clients (Will, 2020).
Marketing Strategy Form
 Marketing strategy-The marketing strategies going to be used for the purpose of
promoting offerings and different restaurants which are part of The Restaurant Group
plc, portfolio are Sponsorships, social media platform like twitter, Instagram and
Facebook.
 New technologies- The technologies on which further focuses for building effective
level of collaborations includes Instagram twitter and Facebook.
 Promotional tool and cost budget- There are different promotional tool used by The
Restaurant Group plc, for promoting their products such as digital marketing platforms
and different promotional offers are provided on online orders to customers. The total
amount of cost going to be indulge in performance of overall promotional activities will
be around £1250.
CONCLUSION
Marketing strategies are formed by business through which they aim to strategically plan
all their activities through which they can accomplish organisational goals and gain competitive
advantage. These strategies help business to analyse macro business environment through which
they can enhance business performance and gain competitive advantage from their operations.
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REFERENCES
Books and journals
Adomah-Afari, A. and Maloreh-Nyamekye, T., 2018. Relationship marketing strategy.
International Journal of Health Care Quality Assurance.
Chaffey, D. and Smith, P. R., 2017. Digital marketing excellence: planning, optimizing and
integrating online marketing. Taylor & Francis.
Deepak, R. K. A. and Jeyakumar, S., 2019. Marketing management. Educreation Publishing.
Hanlon, A., 2018. Digital marketing: Strategic planning & integration. Sage.
Kumar, V. and Ramachandran, D., 2018. Influence of technology and data on customized
marketing strategy. Handbook of Advances in Marketing in an Era of Disruptions:
Essays in Honour of Jagdish N. Sheth, 360.
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.
Perreault, W.D., 2018. Essentials of marketing. New York: Mc Graw Hill.
Rana, S and et.al., 2020. Determinants of international marketing strategy for emerging market
multinationals. International Journal of Emerging Markets.
Shokuhi, A. and Nabavi Chashmi, S. A., 2019. Formulation of Bank Melli Iran Marketing
Strategy Based on Porter ‘S Competitive Strategy. Journal of Business-to-Business
Marketing. 26(2). pp.209-215.
Will, M., 2020. Integrated Strategy Development Based on Intangibles. Intellectual capital in the
digital economy. New York: Routledge.
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