Detailed Marketing Plan for Delicious Dining Restaurant Services

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This report provides a detailed marketing plan analysis for Delicious Dining, a successful restaurant service company. It begins with an overview of the company's mission and business objectives, including revenue growth, corporate citizenship, workforce expansion, and nationwide presence. The report then delves into industry analysis, covering trends (social media, healthy food, technology), competitors (Benihana, P.F. Chang's, etc.), consumer profile (Asian cuisine, demographics, income), and technology utilization. A comprehensive SWOT analysis identifies the company's strengths (training, supplier networks, infrastructure), weaknesses (marketing, online presence, store presence), opportunities (branch expansion, social media, offline marketing), and threats (human resource costs, market competition). The market strategy section outlines the target market (gender, age, income, preferences) and the marketing mix (product, promotions, place, pricing). The report emphasizes the importance of effective marketing strategies and provides insights into the company's operations. The report also includes references to support the analysis.
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Running head: MARKETING PLAN
Marketing Plan
Name of the Student
Name of the University
Author Note
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1MARKETING PLAN
Table of Contents
Mission:......................................................................................................................................3
Business Objectives:..................................................................................................................3
Industry Analysis and SWOTT:.................................................................................................4
Trends:....................................................................................................................................4
Competitors:...........................................................................................................................4
Consumer Profile:..................................................................................................................4
Technology:............................................................................................................................5
SWOT Analysis:....................................................................................................................5
Market Strategy:.........................................................................................................................7
Target Market:........................................................................................................................7
Marketing Mix:......................................................................................................................7
Promotions:........................................................................................................................8
Place:..................................................................................................................................8
Pricing:...............................................................................................................................8
References:...............................................................................................................................10
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2MARKETING PLAN
The study is based on a restaurant service company named as Delicious Dining. The
company has tremendous success in the restaurant services in recent years. The study delivers
an important understanding of the mission statement of the company and along with that, the
study identifies the business objectives that the company follow for the desired growth in the
market. The study covers an internal analysis of the company with precise identification of
the factors that are affecting the business actions of the company such as Trends,
Competitors, Consumer Profile, Technology, Strengths, Weakness, Opportunities and
Threats. In addition to this, the study provides a brief assessment of the marketing strategies
used by the company.
Mission:
Delicious Dining is determined in becoming one of the best restaurants in United
States in terms of quality of food and atmosphere. The company has the objective of
providing a pleasant atmosphere to each and every customers. Apart from this, the mission
statement of the company reflects the urge of the company in delivering top quality food
products to the customers of the company. Apart from this, the core values of the business
actions of the company are observed to be the value based pricing for their services and
delivery of fresh food products (Chiu & Hsieh, 2016).
Business Objectives:
With a detailed focus on the business actions of the company, it is visible that the
higher authority of the company is determined in accomplishing different business objectives
which are perfectly aligned with the business actions of the company. The business objectives
that the company is dedicated to achieve, are mentioned below:
The company has the objective of achieving a 5% year on year growth in their
revenue (Demirguc-Kunt, Klapper & Singer, 2017).
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3MARKETING PLAN
The company expects to improve their corporate citizenship by supporting various
food banks through delivering their excessive food products.
The company has the objective to increase their workforce by at least 2% at the end of
this financial which signifies the urge of the company in generating increasing employment.
The company is determined to enhance their presence across the nation with
increasing opening of their branches across the nation (Lynch & Jin, 2016).
Industry Analysis and SWOTT:
Trends:
The impact of the modern trends in the business actions of the company is pretty
prominent. There are several industry trends that are affecting the business actions of the
company such as the influence of the social media in the marketing, innovative food recipes
with precise consideration towards the healthy food consumption habits, incorporation of the
technology in the operations of the company along with eco- friendly business management
(Posist.com, 2020).
Competitors:
The company is facing a certain level of competition from competitors like Benihana,
HuHot Mongolian Grill, Kona Grill, P.F. Chang's China Bistro, and Roy's (Pfchangs.com,
2020). The primary basis of competition is observed to be the pricing of the products, quality
of the products and services, excellence of the marketing activities and quality of atmosphere
(Jogaratnam, 2017).
Consumer Profile:
The company is an Asian or Asian fusion cuisine restaurant. The consumers of the
company are primarily Asian in demographic sense (Wu et al., 2016). In addition to this, the
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4MARKETING PLAN
participation of both male and female customers is observed be pretty prominent in the
company. Other than this, the company consumers of the company are observed to belong to
an income level of 50000 US dollars or above.
Technology:
The company utilizes the presence of technology for the management of the
marketing or promotions of their business actions and products or services. Along with that,
the company utilizes the technology for the purpose of their food processing (Bibi et al.,
2017). In addition to this, the company is able to incorporate modern technological
infrastructure such as the WiFi services and music systems.
SWOT Analysis:
Strengths
The company is able to develop
diversified training facilities for their
employees which improves their
capability in delivering quality
services to their customers.
The company is able to develop a
strong supplier networks for
sourcing fresh raw materials for their
products.
The substantial infrastructure of the
company is one of the important
strength which is well utilized by the
organization. The infrastructure of
the company enables the same to
Weaknesses
The main weakness of the company
is the inaccurate management of the
marketing activities from the part of
the company. The company is
observed to have a comparatively
limited presence in the social media
and online platforms which affects
the success of the same in
communicating and interacting with
their customers.
The company is observed to have
limited store presence in the nation
and that is limiting the capability of
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5MARKETING PLAN
deliver a pleasant atmosphere to
their customers. As a result, it is
understandable that the success of
the company in achieving their value
proposition is largely dependent on
the excellent infrastructure of the
company (Khalilzadeh, Ozturk &
Bilgihan, 2017).
the same in increasing their revenue.
Opportunities
The company has the scope of
increasing their branches and store
outlets across the nation for
conducting a sustainable business.
The company has the opportunity to
develop strong social media
presence in various social media
platforms such as the Twitter and
Instagram. Along with that, the
company is required to conduct
offline marketing activities through
the various newspapers such as New
York Time, USA Today and The
Wall Street Journal. The
improvement in the efficiency of the
marketing team of the company will
Threats
o One of the major threat for the
company is the increasing costing of
the human resources. The company
employs a substantial amount of
human resource in various teams
such as the kitchen management
team, floor management team,
cashiers and floor cleaning team. As
a result, the increment in the charges
of the employees will be a threat for
the financial sustainability of the
company (Lee, Hallak &
Sardeshmukh, 2016).
o Along with that, the tough
competition of the market from the
part of the competitor organizations
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6MARKETING PLAN
be substantial for the company in
promoting their business operations
and communicating about their
products and services to the
customers.
such as Benihana, HuHot Mongolian
Grill, Kona Grill, P.F. Chang's China
Bistro, and Roy's will also be a
major threat for the company.
Market Strategy:
Target Market:
Criteria Target
Gender The company targets both male and female
customers as individuals from both the
genders conduct repetitive purchases of the
products and services of the company.
Age The company targets younger generation as
the mentioned group has the tendency of
spending more in comparison to other group
of customers The target market for the
company is customers belonging to the age
group of 20 to 45 years (Jalilvand et al.
2017).
Income Level The company targets the customers with an
annual income of 50000 US dollars or
above.
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7MARKETING PLAN
Other Preferences As the company sells products of Asian or
Asian fusion cuisine, the customers who
have a certain amount of linking of the
mentioned cuisine will be the main target
for the company.
Marketing Mix:
Product:
The products of the company are primarily the dishes of Asian or Asian fusion. The
people of the United States have greater preferences for the products and dishes belonging to
Asian cuisine. Some of the bestsellers in the product offerings of the company are Asian
BBQ Chicken, Vietnamese Dumplings, Burmese Khao Suey, Grilled Fish with South-East
Asian Dressing, Chilli Chicken, Thai Fish Curry, Diced Chicken in Black Bean Sauce,
Japanese Prawn Tempura, Asian Sesame Chicken Salad and Hazelnut Asian Lettuce Wrap.
Promotions:
The company is seen to be primarily limited in conducting extensive amount of
marketing activities. The company has a stable presence in Facebook and YouTube and they
uses the same for their promotions. However, the incapability of the marketing activities in
effectively communicating their customers regarding their products and services is observed
to be a major concern for the company. In such position, the company has the necessity to
develop their presence in the social media platforms like Twitter and Instagram for better
interaction with the customers regarding their products. In addition to this, the company has
the necessity to conduct offline marketing through widely purchased newspapers such as
New York Time, USA Today and The Wall Street Journal (Usatoday.com, 2020).
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8MARKETING PLAN
Place:
The company is currently operating in New York and Washington. However, the
company has the objective of opening new stores in the Los Angeles, Houston and San
Francisco. The organization operates only using brick and mortar store outlets.
Pricing:
The company utilizes value based pricing for the services that they offer to the
customers. The pricing enables the company to align their offerings to the target market in a
professional manner and at the same time, it enhances the comfort of the company in
targeting a larger number of customers in an efficient manner.
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References:
Bibi, F., Guillaume, C., Gontard, N., & Sorli, B. (2017). A review: RFID technology having
sensing aptitudes for food industry and their contribution to tracking and monitoring
of food products. Trends in Food Science & Technology, 62, 91-103.
Chiu, J. Z., & Hsieh, C. C. (2016). The impact of restaurants’ green supply chain practices on
firm performance. Sustainability, 8(1), 42.
Demirguc-Kunt, A., Klapper, L., & Singer, D. (2017). Financial inclusion and inclusive
growth: A review of recent empirical evidence. The World Bank.
Jalilvand, M. R., Salimipour, S., Elyasi, M., & Mohammadi, M. (2017). Factors influencing
word of mouth behaviour in the restaurant industry. Marketing Intelligence &
Planning.
Jogaratnam, G. (2017). The effect of market orientation, entrepreneurial orientation and
human capital on positional advantage: Evidence from the restaurant industry.
International Journal of Hospitality Management, 60, 104-113.
Khalilzadeh, J., Ozturk, A. B., & Bilgihan, A. (2017). Security-related factors in extended
UTAUT model for NFC based mobile payment in the restaurant industry. Computers
in Human Behavior, 70, 460-474.
Lee, C., Hallak, R., & Sardeshmukh, S. R. (2016). Innovation, entrepreneurship, and
restaurant performance: A higher-order structural model. Tourism Management, 53,
215-228.
Lynch, R., & Jin, Z. (2016). Exploring the institutional perspective on international business
expansion: Towards a more detailed conceptual framework. Journal of Innovation &
Knowledge, 1(2), 117-124.
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10MARKETING PLAN
Pfchangs.com (2020). Asian Cuisine & Chinese Food Restaurant | P.F. Chang's. Retrieved 29
February 2020, from https://www.pfchangs.com/
Posist.com (2020). Emerging Restaurant Industry Trends In The US Shaping The Industry In
2019 | The Restaurant Times. Retrieved 29 February 2020, from
https://www.posist.com/restaurant-times/usa/restaurant-industry-trends.html
Usatoday.com (2020). Retrieved 29 February 2020, from https://www.usatoday.com/
Wu, K., Raab, C., Chang, W., & Krishen, A. (2016). Understanding Chinese tourists' food
consumption in the United States. Journal of Business Research, 69(10), 4706-4713.
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