Marketing Essentials

This presentation covers the essentials of marketing, including the importance of marketing in an organization, creating a marketing plan, and case studies and strategies for success. It also provides access to study material, solved assignments, and more on Desklib.

Marketing Essentials

Introduction
 Marketing is an important function of the organisation that handles
promoting and advertising of products and services of the company.
 This is a department which is discipline that involves various actions
that an organisation takes for drawing in customers and maintaining
relationships with them.

Marketing Plan
 Market research to support pricing decisions and new market entries
 Tailored messaging which targets particular geographic areas and
demographics.
 Selection of effective platform to promote service or product such as
digital, radio, Internet, trade magazines, etc.
 Metrics which is helpful for measuring outcomes of marketing efforts and
reporting timelines.

Background of the business and rationale why
business will succeed
 In the present report, chosen organisation is Tech Buffet which is a
restaurant in United Kingdom.
 Their main aim is to provide high quality services to their customers by
providing them range of cooked, meat, raw, vegetarian, vegan meals in
a high tech buffet style.
 It is the restaurant which provide customers range of products which is
freshly cooked appetites.

Rationale why business will succeed
 Tech-Buffet is a restaurant which mainly use QR SCAN techniques in
order to take payment from the customers.
 It is one of the most effective and unique process which is used by the
owner of restaurant so that they can attract large number of customers.
 This is the main reason behind the success of the company at the
competitive marketplace.

PESTLE analysis of Tech Buffet
 Political factors - The marketing analysis is defined as evaluating
objectives, strategies and marketing environment of business.
 Economical factors – UK is facing high inflation because of high
import prices. This is having adverse effect on pricing of Tech Buffet.
When food, tobacco and drink price are increased, this is good for
business.
 Social factors - These includes lifestyle and demography and in UK,
these are changing positively.

Technological factors
 Technology has become a ruling
force for business since years.
Innovation and technology are
important for success of any
business. In case of Tech Buffet,
this restaurant is using QR scan for
payments of customers.

Environmental factors
 The business success of Tech Buffet is
affected by environmental issues and
challenges of UK. This country has huge
opportunity for starting new businesses
 The success rate of new start ups and
businesses in UK is high so there are
possibilities for this restaurant to have
growth and success.

Legal factors
 The legal factors that affects
business are rules and regulations
which are made for running of
business appropriately.
 UK government has strict rules that
are to be followed by Tech Buffet
for it's success in market.

SWOT analysis of tech Buffet
Strength Weakness
The biggest strength of Tech Buffet
is that it provides quality food dishes
and it's service is very good.
The weakness of this restaurant is
that there are limited suppliers from
overseas.
Opportunity Threat
This restaurant has opportunity to
expand it's business in international
markets.
Due to Brexit, there are new rules
and regulations and these have
become threat for new business to
expand their market share.

Marketing objectives
 “To increase brand awareness with 50% within UK by the end of June
2020 through advertising and evaluate the number of sales to each
advertising channel quarterly”.

Marketing segmentation, Targeting and
Positioning
 The customers for Tech Buffet
are segmented on the basis of
personality and emotions based
on behaviours, customer choices
that consists of lifestyle, hobbies,
risk aversion, leadership traits,
etc.

Marketing mix of Tech Buffet
 Price – This is defined as the amount or charge which is taken from
users or customers for a service or product.
 Place – This is defined as the activities of an organisation which makes
products available for potential customers.
 Product – The product is defined as services and goods offered by the
company to customers
 Promotion – This consists way in which a product or service is
advertised or promoted. Marketers of the company mainly focus on
promotions as this helps in increasing sales of business.

Promotional Budget

Conclusion
 It has been concluded from the above discussion that marketing plan is
an important factor that helps in analysing the marketing and promotion
plan of the company. It is necessary for companies to do PESTLE and
SWOT analysis as it helps in knowing what are the opportunities an
threats of starting the new organisation.

References
 Macarthy, A., 2018. 500 Social Media Marketing Tips: Essential
Advice, Hints and Strategy for Business Facebook, Twitter, Pinterest,
Google+, YouTube, Instagram, LinkedIn, and More!. CreateSpace
Independent Publishing Platform.
 McDonald, M. and Wilson, H., 2016. Marketing Plans: How to prepare
them, how to profit from them. John Wiley & Sons.