Comprehensive Business Management Report: Foodora's Operations

This report provides a comprehensive analysis of Foodora's business management practices. It begins by examining the company's pricing and promotional strategies, exploring the use of the marketing mix (price, product, promotion, and place) to maximize profit and build brand awareness. The report then delves into Foodora's market research methods, differentiating between primary and secondary research techniques and their respective advantages and disadvantages. Furthermore, the report discusses the financial and non-financial incentives Foodora offers its employees to boost motivation, including training, flexible hours, health benefits, and various monetary rewards. Finally, the report concludes by outlining different market segments and the importance of segmentation in targeting diverse customer groups based on geographical, psychographic, behavioral, and attitudinal factors, ultimately aiding in product sales and overall business success. The report utilizes various academic references to support its findings.

Business management

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Pricing and promotional strategy ...............................................................................................1
TASK 2 ..........................................................................................................................................2
Market research...........................................................................................................................2
TASK 3............................................................................................................................................3
Financial and non-financial motivation given to employees......................................................3
Task 4...............................................................................................................................................4
Different market segment............................................................................................................4
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Business management help to run business systematically. There are various activities
done in organization, management help to coordinate that activities. This project contains
discussion about pricing and promotional strategy used by company further it contains
discussion about market research done by company to increase sale of product, financial and non
financial incentives given to employees to motivate them, and at last it conclude about different
segment of markets.
TASK 1
Pricing and promotional strategy
Marketing mix is known as set of tools used by company to promote product or brand.
There are 4 p's in marketing mix such as price, product, promotion and place.
Foodora can use marketing mix for pricing and promotion.
Price mix: it refers to amount that buyer or customers are ready to pay for particular
product. There are several types of pricing strategy which firm can adopt. Main objective of this
strategy is to maximize profit of firm (Gattorna, 2015). If focus is on increasing profit, then
product must be priced above cost.
There are various factors like material, labour, overhead etc which decides total cost of
particular product. If a firm practices monopoly and there are no competitors in market, the
product can be sold at much higher than cost of product.
If customers are addicted to particular product or brand then no matter how high the
price is, they will buy that product. Particular price range of product should be decided by the
company so that customers who are willing to buy that product can have them. Foodora uses
wide range of marketing strategies and even offers product on promotional price, so that
customers can buy product and use them.
Promotion mix: it consists of different promotional tools used by company to promote a
brand or products. It can be done in various ways like giving advertisement on television, radio,
newspaper etc. another promotional tools that can be used in this mix is public relation. This
strategy helps to create positive image of company in public and support new launch of products.
Sales promotion is another tool used by company that helps in achieving short-term target
of firm (Bryson, and Daniels, eds., 2015). Foodora can use this strategy in launching of new
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product; awareness about particular product can be spread in market so that customers can have
knowledge of it. This awareness can be spread using social media, newspaper etc.
TASK 2
Market research
Market research is done to gather information regarding market and customer choices.
Firm wants to maintain competitiveness in market then this research plays an important role in
analysing market needs and demands. After analyzation is done, company launches product
according to demands of customers. Foodora can do the following research to understand needs
of customers.
Primary Research: it helps to collect information from primary resources that include
survey, direct observation and interview (. Foster, O'Reilly, and Dávila, , 2016). If a firm wants
to gather information about particular group of people then survey is conducted.
This research doesn’t have any boundary conduct direct interview with people and group
of people. This research control on type of question you ask from people. As interview is
conducted directly, it gathers exact information. This is very time consuming process because it
deals with wide range of people. It is very specific and precise because it focuses on particular
category of people.
Secondary Research: this research is used to gather information from secondary
sources. In this research, information is collected from internet, books, data available in stock
list and customer base. This is one of the fastest ways to get information as they are already
available (Wood,, and et.al, 2015). Time can be saved if company conducts this research. Data
should be carefully interpreted as wrong interpretations can create problems for company. It is
very cost efficient, as data used are already collected by other researchers. There are some
limitations to this research as data available can be inaccurate, out dated and sometimes it may
not have information regarding a particular group of people.
Foodora Company can conduct any of the market research if they want to launch new product in
market. Market research is very important as it helps to study or analyse mindset of public.
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TASK 3
Financial and non-financial motivation given to employees
Motivated employees make happy business environment (Jeston, 2014). If employees
perform above the set standard then to motivate them rewrds are given . These rewards can be
monetary and non-monetary.
Here are some rewards that Foodora can offer employees to motivate them.
Non-monetary incentive
Training and development: if employees want to grow in their field, they should have
knowledge about that field. Some companies provide education facilities to their employees, so
that they can train themselves. It will be beneficial for them and also for company.
Flexible hours or time off: employees have their friends, family, relatives and
community members; they have to maintain their lives outside also. Therefore, company should
push employees to go on vacations with their family or friends. Holidays help employees to relax
and they come back with positive attitude towards their work.
Health benefits: most employees prefer to work in organization which gives health
benefits to workers (Swink,, and et.al 2017). Healthy employees go long way so it is very
important to focus on health safety of employees.
Chance to contribute: every organisation should have suggestion box (Swink,, and et.al
2017). Employees can write there suggestion and put in that box. If suggestion of employees is
good then he should be appreciated in front of other employees so that they feel good about
themselves.
Monetary incentives
 pay and allowances: salary is basic pay offered to employees for the work they do,
beside salary they get dearness allowances, convince allowance, house allowances etc.
these allowances help in increment of basic pay which motivate employee and they work
hard (Jeston, 2014).
 Bonus: it is given to employees on special occasions like festivals. This is given in
addition of basic salary.
 Profit sharing: if a firms earn more profit it is because of contribution and hard work of
employees.. If company share part of profit with employees, they will feel motivated and
will work effectively (Wood,, and et.al, 2015).
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 Retirement benefit : employee will prefer to work in organisation which give retirement
benefits. Organization should provide employees with benefits like provident fund,
pension, gratuity.
 Perquisites : along with basic salary company can offer different perquisites like car
allowances, medical allowances to employees, so that they stay motivated.
Task 4
Different market segments
Dividing customers or market in different category is known as market segment. It enables
company to target different category of people (Foster, O'Reilly, and Dávila, , 2016). All the
group of people that form one segment are different from each other. Here are some common
forms of market segments.
Geographical segments: in this segmentation markets are divided according to
geographical criteria. It is very effective for company that covers a large market and has
customer in different corners of world. Customers in different regions have different taste and
preferences.
Psycho-graphic segmentation: this segmentation divide people according to there
lifestyles people have different attitude and opinions (Bryson, and Daniels, eds., 2015). Some
people are very conscious about there health and eat nutritious food where as some people are
very foodie they prefer eating junk food. this segmentation help in satisfying the need of people
with different psychology.
Behavioural segmentation : this segmentation divide people according to there
behaviour. This segmentation can be further classified according to usage of product, benefits
derived from product, loyalty level of customers for product or brand. There are some segments
of people in market, which use product according there behaviour or customised specification.
Purchase occasion : this segmentation divide product according to occasion in which
customer prefer to buy product (Gattorna, 2015). Necessity of product decide willingness of
customer to purchase product.
Attitudinal segments : this segment target people based according to there attitude. Every
customer have different believe and interest. To carry out this segmentation, there should be
cluster analysis.
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CONCLUSION
This project conclude that there are different types marketing strategies used by company
to influence customers. Company in order to increase there sale conduct different type market
research to analyse market situations. These research help company to understand taste and
preferences of buyer. They decide to launch product according to research done by them. It is
very important for every company to reward there employees for hard work they do. There are
two types of incentive given to employees, monitory and non monitory. Segmentation of market
increase sale of product.
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REFERENCES
Books and Journals
Barry, W.S., 2017. Airline Management: Business Management in Transport 3. Routledge.
Bryson, J.R. and Daniels, P.W. eds., 2015. Handbook of service business: Management,
marketing, innovation and internationalisation. Edward Elgar Publishing.
Cokins, G., 2017. Strategic business management: From planning to performance. John Wiley
& Sons.
Foster, G., O'Reilly, N. and Dávila, A., 2016. Sports business management: Decision making
around the globe. Routledge.
Gattorna, J., 2015. Dynamic supply chains. London: Pearson Education Limited.
Jeston, J., 2014. Business process management. Routledge.
Scarborough, N.M., 2016. Essentials of entrepreneurship and small business management.
Pearson.
Schaper, and et.al, 2014. Entrepreneurship and small business.
Swink, M, and et.al 2017. Managing operations across the supply chain. New York, NY:
McGraw-Hill Education.
Wood, C.R., and et.al, 2015. Principles of school business management. R&L Education.
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