Strategic Management for Café Victoria: Business Concept, Objectives, and Marketing Style
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This report discusses the strategic management of Café Victoria, a bakery and seafood café. It covers the business concept, objectives, SWOT analysis, Porter's generic strategies, and marketing style, including social media marketing.
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Strategic Management
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Table of Contents INTRODUCTION...........................................................................................................................3 MAIN BODY..................................................................................................................................3 Business Concept.........................................................................................................................3 Business strategy and company objectives..................................................................................3 Marketing style............................................................................................................................6 CONCLUSION................................................................................................................................7 REFERENCES................................................................................................................................8
INTRODUCTION Strategic management refers to formulation and implementation of major goals and objectives of the organisation. The strategic management involves that all the plans and actions of the organisation are in direction which enable them to achievement of goals. This report will discuss strategic management for Café Victoria and its marketing styles. MAIN BODY Business Concept Café Victoria which provides bakery products and seafood to its customer ad along with that the café also provides catering services and its different menu in catering services are based on the different prices. Menu of café includes various range of food and food course which includes, breakfast, mains, healthy food, vegetarian food, kids menu and along with range of other food products (Newburry, Deephouse and Gardberg, 2019). This varied and broad menu helps café to cater needs of all different type of customers. Other than this café maintains high quality of food and ingredients which are used in the food products. Important benefit that customers are provided by the café is that they can have taste delight with high quality of food. Other than food products café also provides and sell drinks which are coffee, tea, beer and other drinks so that café can cater all the needs and desires of its all customers. Business strategy and company objectives Vision To be able to provide best and most delicious food of different range Objectives To increase market share to 10% by the end of this financial year To include more variety of the food products To reduce the time between customer order and food serving To work on increasing customer satisfaction To increase the food option for health conscious customers
SWOT Analysis This analysis helps in identifying what are the strength and weaknesses of the café and what are the opportunities they can utilize and what are the threats that they need to stay aware about. Strength Able to cater every type of customers and consumer Wide range of products option available Tasty, healthy and qualitative yet affordable Weakness Limited existence as the café has only one place where customers and business can interact (Okumus and et.al., 2019) Unavailability of ordering food at home Opportunities To grow and increase purchase places in other cities (café can open its branches in other city because of its success and capabilities) In health conscious products (health conscious customers are increasing day after day and this is why café can utilize opportunity by offering specific healthy and diet food) Threats Increasing competition in food and beverages industry (high competition in the food industry is a threat that Café Victoria can face and this requires it to be ready to face the threat to ensure its continuous success) Frequently changing laws in food safety and regulation To achieve the continuous success and objectives of the café it has to follow strategies and for this café can apply model of Porter’s generic strategies.
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Figure1Porter's Generic Strategies This model provides four type of strategies that café can apply. The strategies are based on strategic advantage in form of cost and differentiation and strategic target/focus which can be either narrow or broad. The strategies are; Cost Leadership This strategy involves that cost of firms products is lowest in the industry and as the cost of the firm is lowest it can earn good profit margin (Firoz Suleman, Rashidirad and Firoz Suleman, 2019). This strategy applied to all the customer of the café as the café has broad focus in this strategy. Differentiation Strategy This strategy involves that products of the firm are different from the products of its competitors. This strategy is also adopted by the café in generalized form. The products are clearly different from the other products. Cost Focus This strategy is similar to cost strategy that cost of the café is lowest in the industry but this strategy is adopted and applied on the limited number of customers. Café can apply this strategy by lowering its cost but this includes that lowering cost includes compromising with quality. Differentiation Focus
This is strategy is similar to differentiation strategy but like cost focus this strategy is applied to limited number of people (Omsa, Abdullah and Jamali, 2017). This strategy can be applied for trial of the differentiation strategy. Café Victoria can apply the theory of cost leadership because as of now company is selling its products at affordable price with high quality and tasty. This strategy of cost leadership can be adopted by the Café Victoria. Marketing style Marketingstrategyreferstostrategydevelopedtopromotebusinessandincrease awareness about the existence of the product and its characteristics. Marketing strategy involves various actions and presently marketing strategy has become important part of business and its success. There are various marketing and promotional strategies that company can adopt. Presently widely used marketing strategy by the company is marketing at social media platforms. Social media platforms are increasingly being used by the businesses to market their business and products. These platforms allow business to access to mass number of people and business can increase their visibility. Café Victoria can also market and promote itself through these social media platforms these are Facebook, Instagram and Twitter etc. Café Victoria already promotes it at Facebook and Instagram and these platforms provide opportunities for promoting the business in various creative forms. Along with organic social media marketing Café Victoria can promote the business through paid social media marketing (Keegan and Rowley, 2017). In this Café Victoria can promote itself through other networks and pages on Facebook to increase its customers and increase visibility to those people who are not following the page and link of Café Victoria on Facebook. Café Victoria can also promote itself through influential marketing on social media sites where it can promote its café through other people.
CONCLUSION On the basis of above analysis it can be concluded that there strategic management makes it easy for business to achieve its objectives efficiently. Later this report included strategic management plan and cost leadership strategy is suitable for Café Victoria. Later Facebook and social media marketing was also discussed for Café Victoria.
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REFERENCES Books and Journals Ethiraj, S.K., Gambardella, A. and Helfat, C.E., 2018. Theory in strategic management.Strategic Management Journal.39(6). pp.1529-1529. Firoz Suleman, M., Rashidirad, M. and Firoz Suleman, S., 2019. The applicability of Porter's generic strategies in pure online firms: A case study approach.Strategic Change.28(3). pp.167-176. Keegan,B.J.andRowley,J.,2017.Evaluationanddecisionmakinginsocialmedia marketing.Management Decision. Newburry, W., Deephouse, D.L. and Gardberg, N.A., 2019. Global Aspects of Reputation and StrategicManagement',GlobalAspectsofReputationandStrategicManagement (Research in Global Strategic Management, Volume 18). Okumus, F and et.al., 2019.Strategic management for hospitality and tourism. Routledge. Omsa, S., Abdullah, I.H. and Jamali, H., 2017. Five Competitive Forces Model and the Implementation of Porter’s Generic Strategies to Gain Firm Performances.