Catering Business Development: Market Analysis, Revenue Model

This report provides an overview of catering business development, emphasizing the opportunities for learning and growth in the global economy. It defines business development as ideas and initiatives that create business revenues and expansion. The report explores the market need for a catering business, highlighting the importance of identifying target markets and understanding customer motivations. It discusses the value proposition, emphasizing the delivery of high-quality products and services in a clean environment, and differentiating the business through menu design, table setup, and digital marketing strategies. The report also identifies target customers, including individuals, organizations, and businesses for special events. The revenue model focuses on generating financial income by selling more than spending, considering fixed and variable costs to determine pricing. In conclusion, the report emphasizes the importance of a business plan and marketing alignment for promoting products and facilities.

Enterprise and business development

Table of content
• Introduction
• Market need
• Value proposition
• Target customers
• Revenue Model
• Conclusion
• References

Introduction
The entrepreneur and business have enormous opportunities
for learning with the growth of global economy and increase
of technology. The Start-up of business is heart for job-
creation leading to business growth and economic
development. The business development can be defined as
ideas, initiatives and activities which helps in creating
business revenues, growth in regards to business expansion.
The business idea is developed of starting Catering business
which will supply the food facilities to its customers and
guest.

About Catering business
The start up of catering business offers the catering services
by coordinating the preparation, creation, delivery and
presenting of food for clients. Along with this the catering
company involves set-ups, decorations, tables, music and
lighting. It has become an eye-catchy by offering tasty
foods and first class services to its customers. There are
various catering groups such as delivering catering, hotel or
restaurant catering, and private full catering.

Market Need
This is a marketing concept which is related to functional
and emotional needs or desires for target market. The
need of the market is to make sale of products and
services. While assessing the market needs for catering
business the first step is to define target market for the
product and services in market segments. After, that
functional or emotional need is identified by knowing the
motive of buying of customers that can benefit them.

Value proposition
It is refereed as value that company promises to offer customers for choosing to buy their
product or service. It is a part of overall marketing strategy
• The catering business is an famous business for start which will offer the high quality of products and
services to consumers so that they get influenced towards brand. The food service will be offered to
the customers in a clean atmosphere for meeting the market need.
• The catering business will be different from others as it will offer several services such as menu
designing, table setup, banquet arrangements, seats and many more.
• The service will be offered by taking the use of digital and social media marketing, Pay per click
advertising, partnerships with social media influencers and many more.

Target customers
Target customers- The target market is an set of individuals which
shares similar needs or characteristics. It is a subset of total market
for the product or service that is identified for potential customers.
In the target marketplace there are huge target audience which are
ready to explore and try for unique and new services. The catering
business will target to the individuals, organisations and business
for special events and occasions such as birthdays, weddings,
business conferences etc.

Revenue model
Revenue model- This defines to framework for generating financial income which is an key
component of company business model. It is an strategy for managing company revenue
streams and the resources needed for each revenue stream. The catering business model
generates its revenue by selling more than they spend. For revenue projection, the catering
business will gauger the number of footfalls and analysis how much per person make ROI
(Kock, A., and et.al., 2020). Now, for more selling than spending, it is essential for knowing
different costs of catering business model. The fixed cost will be Rent, insurance, salaries and
variable cost are Food, utilities, advertising and hourly salaries. The catering business will
decide on the prices of its item in such a manner to cover all costs, and making of excess
money.

Conclusion
From the above report it was concluded that the business plan is the most important
document drawn up by the managers and the executive who are working on the creation of the new
company to accumulate and plan the actions, all in the source of the information that are desired in
the company. In this report above, there is an overview of catering business where funding is being
increased through government support and some internal or external business sources. Then the
marketing plan is accompanied by actions such as market alignment and product mix by the
marketing directors in relation to promoting their products and facilities.

References


Caiati, V and et.al., 2020. Bundling, pricing schemes and extra features preferences for mobility
as a service: Sequential portfolio choice experiment. Transportation Research Part A: Policy and
Practice, 131, pp.123-148.


Elwood, S., and et.al.,2020, October. Facilitating Standards to Outcomes through Service to
Community Portfolio Projects. In SITE Interactive Conference (pp. 185-191). Association for the
Advancement of Computing in Education (AACE).


Kock, A., and et.al., 2020. Project portfolio management information systems’ positive influence
on performance–the importance of process maturity. International journal of project
management. 38(4). pp.229-241.

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