Marketing Plan for Bistro Moncur Restaurant (MKG701)

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MKG701 Task 2 Marketing Plan
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Executive summary
The present report is prepared to design an effective marketing plan which assists company to
accomplish its desired goals and objectives in required manner. Before introducing any new
product at marketplace, it is essential for companies to prepare an effective marketing plan that
enables to respond positively towards current market trends. The report includes various theories
or concepts which uses in marketing planning; it establishes a framework which always an
emphasis on attaining and retaining organizational goals in the required manner. This report also
enlightens internal marketing analysis by considering SWOT analysis in order to identify
strength and weaknesses of Bistro Moncur as well as areas to grab better future opportunities and
potential threats which may affect firm’s market position. At last, this assignment defines
marketing strategies that must use by companies to accomplish its goals and objectives; this
process requires proper market segmentation. Implementation of marketing strategies requires
specific action programs and proper control over there thus to ensure success and growth of
business associations.
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Table of Contents
Executive summary.........................................................................................................................2
Introduction......................................................................................................................................4
Case background..............................................................................................................................5
Comprehension of marketing planning theory and concepts..........................................................6
Analysis of internal marketing environment and SWOT analysis..................................................7
Marketing goals and objectives.......................................................................................................9
Marketing strategies.......................................................................................................................11
Marketing implementation.............................................................................................................13
Evaluation and Control..................................................................................................................14
Conclusion.....................................................................................................................................15
Reference.......................................................................................................................................16
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Introduction
Marketing plays a critical role in promoting products and services of an organization over large
group of customers by ensuring high profitability and sales revenues. While developing a
marketing plan, it is essential for companies to conduct market research; it assists them to
understand current market trends and competitors strategies.The present assignment is based
upon Bistro Moncur which is a French restaurant established before 25 years ago in Sydney. It
offers a perennially consistent French menu to provide something different to Australians. In this
relation, the firm is going to develop a marketing plan with an aim to enhance the dining
experience for target audiences. The report will discuss concepts and theories of marketing
planning which emphasis on attaining desired goals in the required manner. Furthermore, there
will be a discussion upon internal marketing analysis by doing SWOT analysis; it aids marketers
to determine how opportunities and threats can respond from the strength and weaknesses of the
company. Certain marketing strategies will also develop by considering current market trends
and issues (Hair, et. al., 2012).
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Case background
The case is associated with the marketing plan of Bistro Moncur. Bistro oncur ahs various
competitors in the market and the business needs to formulate some marketing strategies that can
assist the business in fighting the cut throat competition. The business is a restaurant business
and offers various types of cuisines to the target customers. The marketing plan will assist the
buseiness in having a competitive advantage over the other competitors (Kumar, 2015).
The business is currency working to satisfy the need and demands of the customers of all ages in
the market. But to fight the competition, the business needs to be more specific in selecting the
target customers for the product. The segment of target customers selected by Bistro Moncur is
the adult group of the society. The organisation has a good position in the market. There is
goodwill in the market. Although the business is a small scale business, the marketing plan of the
restaurant will help the business to gain higher profits and financial position in the market.
The external environment of the buseiness is favourable for the business and the business can
have various opportunities form the external business environment.
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Comprehension of marketing planning theory and concepts
The marketing planning theory used in the formulation of this plan is strategic marketing
planning. The marketing plan will include various strategies in its implementation. This will help
the business to achieve its goals and objectives. The strategic marketing planning will help the
management of the restaurant to formulate effective marketing and business strategies which will
assist in the information gathering of the target customers of the business. The strategic
marketing plan will be beneficial for the business as it will help the business to increase its
profits and sales by the effective implementation of the marketing strategies (Phadermrod, et. al.,
2019). There is discussion of four Ps of marketing which will also contribute to the successful
implementation of the plan.
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Analysis of internal marketing environment and SWOT analysis
It is very important for an organization to have an analysis of its internal environment along with
the external environment. The internal environment is related to the internal structure of an
organization. The internal environment of an organization is associated with the strengths,
weaknesses, opportunities, and threats of a business which it might face in the market. BY the
analysis of the internal environment, an organization can take effective steps to frame effective
marketing strategies so that it can increase its sales and profitability. Bistro Moncur also have to
evaluate its internal business environment to make effective marketing strategies and the
strategies to beat the other competitors in the market (Aguirre, et. al., 2015). The SWOT analysis
of the company is stated below:
(Fig. 1: SWOT analysis)
(Source: By author)
The above SWOT analysis describes the following points:
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Strengths
Great locatiopn which attracts more and mroe
custoemrs
Good staff members goving their best in
achieving the organsiational obejcetives.
Successful marketing strategies.
Weaknesses
The restuatrent lacks in the variety of dishes.
The record keeping sysem of the custoemrs is
not up to the mark.
The cost of rent of the restaurent is high
beacuse of he location.
Opportunities
The other competitors provdies the same
dishes at expensive prices.
The existing custoemrs are loyal to the
restaurant which is beneficial for the
organisation.
Threats
The food products offered by the cpmeptitirs
are similar to the products offered by the Bistro
Moncur.
The restaurant has a threat of new entrants in
the market.
SWOT

Strengths: The strength of Bistro Moncur is that the restaurant has framed effective marketing
strategies which proved to be beneficial for the organization. The organization has implemented
the marketing strategies to attract more and more customers and the strategies are suitable for the
organisational benefits. Another strength of the restaurant is that the restaurant ahs good and
skilled staff members who contribute their best for taking the restaurant to high levels. The
contribution of the staff in the restaurant is the strength of the business. The loyalty of the strafe
encourages the management of the restaurant to formulate more effective policies and strategies
for the business.
Weakness: There are certain weaknesses of the businesses. The restaurant has a drawback that
the restaurant offers less number of dishes in the menu. The other competitors offer more dishes
on the menu. Another weakness of the restaurant is that the business has a poor feedbacks
collection system. The feedbacks of the customers are not collected effectively in the restaurant
which leads to ineffective policies of the business. The rent paid for the place of the restaurant is
very high reduces the overall profits of the restaurant (Felix, et. al., 2017).
Opportunities: There are various opportunities in the business which can prove to be beneficial
for the restaurant. The opportunities will assist the business to frame effective marketing policies
which will help the business to grow and prosper. The opportunity is that the other competitors
offer the same dished at higher prices which makes Bistro Moncur affordable for the customers.
The next opportunities or the advantage is that the existing customers of the restaurant are loyal
and visit Bistro Moncur in any case (Gürhan-Canli, et. al., 2016).
Threats: There are certain threats which are unfavorable for the business. There is a continuous
threat of new entrants in the market. The entry of new restaurants in the market will affect the
sales and productivity of Bistro Moncur in a negative manner. There is another threat to the
business as the products or the dishes offered by the competitors are similar to ten dishes offered
by Bistro Moncur. This can hinder the sales of the restaurant if the competitors offer better
products with better taste.
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Marketing goals and objectives
The marketing goals and objectives are formulated to achieve the overall productivity an
profitability goals of the business. The goals and objective of this marketing plan are to discover
new opportunities in the market and attract more and more potential customers to the restaurant
so that the sales of the restaurant can be increased. For the achievement of increased profits from
the restaurant, there are certain marketing objectives set (Chen, et. al., 2015). The marketing
objectives are SMART.
 S Specific: The smart objectives of a business state that the objectives must be specific
and significant for the organization. The specific objectives of the marketing of the
restaurant will assist the business to market the brand in the potential target market. The
specific marketing objective of the restaurant is to find out about the taste and preferences
of potential customers. The specific objective also includes the decision for the media
used by the restaurant to market its products.
 M Measurable: The next attribute of the marketing objective of the restaurant is that the
objectives must be measurable in terms of its effectiveness. The measurable objective of
the restaurant is that there will be effective measurement of the marketing strategies used
in the restaurant to have more profitability (Raynard, 2017).
 An Achievable: Any goals and objectives et by an organization must be achievable. The
goals are which are achievable are only beneficial for the organization. For the marketing
of Bistro Moncur, there are some objectives which are achievable. The achievable
objectives are that the restaurant will have an increase in sales by 5% after the use of
effective marketing strategies. There will be an increase in the profitability of the
business by 3% when the marketing tools and strategies will be used.
 R Realistic: The goals and objective set for any business must be realistic. They must
have a real existence. Imaginary or unrealistic goals and objectives must not be framed
by the business. The realistic goals and objectives for Bistro Moncur are that there is an
increase in the number of customers after the successful implementation of the marketing
strategies.
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 T Time-bound: The goals and objectives set for an organization must be tome bound. If
there is no time limit for the accomplishment of the objectives, then the effectiveness of
the strategies cannot be measured accurately (Venkatraman, et. al., 2015). The marketing
goals and objectives of Bistro Moncur will be achieved in the next 6 months. This is a
suitable time framed for the marketing strategies to show their effect in the sales and
profitability of the business.
For the marketing of the products offered by the restaurant, the restaurant has to adopt the
strategy of Market penetration. The strategy of market penetration will help the restaurant to
increase its sales and beat its market competitors so as to gain larger profits. The strategies of
market penetrations work on the principle of comparison of the existing sales of the restaurant to
the total number of target customers in a specific target market. Market penetration can be
defined as the strategy of selling the products in the specific target market. The strategy of
market penetration will help the restaurant to focus on the specified group of target customers
which will create customer loyalty and trust (Homburg, et. al., 2017).
The specific target customers of the business will be the adults of age ranging from 15 to 15. The
adults of ages have a large interest in hanging out with friends and family, trying out new
cuisines and having food at restaurants. The market penetration strategy will be implemented
taking into consideration the specific target customers. The aim of the marketing strategy will be
to gather information about the tastes and preferences of the specific target customers.
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Marketing strategies
Formulation of the marketing plan is based upon the free flow of communication between people
and based upon current market trends; it requires efforts of managers in the sense to take
imperative business decisions. In this relation, adoption of marketing strategies would be great
for company to reach target audiences and turning them out into permanent customers of
business’s offerings. Basically, the marketing strategy of encompasses with the value proposition
of a company, key messages to inform target audiences (Pappas, 2016). As above mentioned, the
main objective of Bistro Moncur is to increase sales and profitability in comparison with
competitors; in this relation, the firm has decided to focus on acquiring the concept of
digitalization with an aim to boost up sales revenues in a certain time period. In order to ensure
the success of its marketing strategy, Bistro Moncur has acquired demographic segmentation
which helps associations to get the right population for its products and services. It divides a
population on the ground of variables.
In the given scenario, Bistro Moncur is focusing to improvise dining experience for customers
and for the same the firm is going to acquire marketing mix as its marketing strategy; there are
four elements of this which are stated as under –
 Product – A product can be an item or physical attributes of a company which is sold by
it. In order to respond positively towards market and competitors, a product should be
unique and able to satisfied customers’ needs in best possible manner. Main products of
Bistro Moncur are –French food menu.
 Price – A price of the product should be able to afford by customers and generate higher
profitability for the company. Products or services which are offered by Bistro Moncur
are quite high as it is providing something new or unique to customers (Corazza, et. al.,
2014).
 Place – A place entails with the location from where products and services are reached to
target audiences. Bistro Moncur sells its products directly from its outlets that are located
in higher streets of London.
 Promotion –To promote its products or services, Bistro Moncur decides to acquire
various promotional channels named – direct marketing, online marketing, sales
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promotion, personal selling and so on. In present scenario, direct marketing is in trend
and mostly preferred by the marketers.

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