Marketing 1012 - Principles of Marketing 1
Section 02
November 27, 2014
Professor Angela Keating
Kyle Gallagher
Marina Davis
1. SWOT Analysis
Strengths
• Several years of experience in the industry
• Creative mind built for innovation
• A true passion in the business
• Diploma in marketing
• Experience in Managing a variety of Restaurants
• Noteworthy research conducted
• A large sum of money ($286,000 in lottery winnings)
• Motivation to succeed more because of past experiences
• Locally sourced food items and gluten-free options on menu Weaknesses
• Fear of failure (letting down herself and family)
• Emotionally torn from previous failure in the business
• Lack of reputation (starting from the ground up)
• Low-medium profit margin
•
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Marketing Communications Plan
Budget: $30,000
Recommendations:
Advertising and justifications-
• Newspaper ads because our target is interested in catching up on what’s happening in their community
• Radio ads on local stations to reach a large number of potential customers besides our target
• Facebook page and Twitter handle to reach people of all ages and allow them to learn about us, our history and how to reach us (link to website)
• Our very own website filled with our history, what we’re about, what we do and offer, and pictures of what some of our menu items look like so people can get a good idea of what we have to offer
• Billboard ads to attract local traffic assuming a large portion of our market travels through the city often whether it be by vehicle or on foot
Promotion and Justifications-
• Holiday and Celebratory cuisines to develop customers relationships and show we care and we keep our service up-to-date
• Happy hour/two-for-one/buy one get the other half off deals to bring in customers during non-peak hours
• Free appetizers and/or desserts for Birthdays (must have photo I.D.)
• A child under 12 eat free for every purchase of an adult meal and beverage to encourage parents to bring the whole
Simple forms of advertising can be highly effective, low cost or even free. These might include simply getting a sign painted on your van, putting a card up in your local newsagent's window, creating a Facebook fan page or starting a Twitter feed.
Triple E’s main clients will be local area businesses who require access to marketing and event planning services but have no marketing/planning departments of their own. By focusing on businesses that have these specific needs, Triple E Marketing and Events will be able to provide smaller organizations access to comprehensive and combined event planning and marketing strategies, allowing them to create brand recognition and increased profitability for their businesses.
Advertisement is conducted on TV, radio, website, poster site, and all kinds of media that
Usually local residents support new business ventures and Lemon Lovin’ Life has $10,000 to spend for advertising. Considering the product theme various marketing vehicles will be utilized to communicate the message, image, and presence of the business. Bovee & Thill (2013) asserted that there are different ways to promote products, including the use of print media (magazines, local newspapers and student publications) (p. 382), broadcast media (local TV shows, radio programs), hotel guides (Chamber of Commerce newsletters, brochures, flyers), direct mail (subscriber lists, inserts in newspapers, office mail delivery) (p. 374), social media (Facebook, Twitter, Instagram) (p. 382), and others (attendance in charity events, sponsorships, press conferences) (p. 382).
Target Corporation is known worldwide as a large retail chain that brings in millions of dollars each fiscal year. The ability to remain competitive in a saturated industry could prove difficult to some retailers, but Target remains one of the leaders in the retail market. With success comes risk. Target Corporation competes against online retailers as well as “big box” stores to remain competitive.
The business that I am promoting is Mama Tina’s, which is a small restaurant located in Marshall, TX, in which they cook and sell soul food. Each meal is different for each day, which are called their “Daily Specials,” and each day stays the same every week. For instance, every Sunday they serve chicken and/or dressing, greens, cornbread, and candy yams. Mama Tina’s also have desserts, which are various flavors of cookies and different flavored pies and cakes, and they have them everyday. Mama Tina’s also sells your average drinks; such as lemonade, sodas, fruit punch, and water.
As described in figure 1, The strengths and weaknesses of the SWOT analysis are internal factors , and can be controlled directly by the organisation. Elliot, Rundle-Thiele, and Waller (2010) describes these strengths and weaknesses as those attributes of the organisation that can help or hinder in achieving its objectives. In figure 2, the strengths portrayed for Foxtel in the SWOT analysis are vast in comparison to it’s weaknesses. In particular, the advertisement campaign has been a strength for Foxtel, despite the global financial crisis, Foxtel was able to successfully ‘sail through the storm’ with the help of a brilliant advertising campaign promising viewers to save money with Foxtel (Simon Canning, 2011) . In contrast, the advertisements are targeted to a specific audience which has left out the aging population of 65 and over, which constitutes 13.5% of the population as at 30 June 2010 (Australian Bureau of Statistics, 2010), this exclusion is a weakness in its advertising campaign. In addition to weaknesses, Foxtel has
During the first two years of being open, the restaurant was just a place to dine with occasional happy hours. Customer service and perfecting the craft of the products was a major focus upon opening. Over the years, multiple weekly events have been incorporated in the week. Outings such as poker nights, live
We are attempting to sell a greater number of senior and business ads, as well as increase the number of yearbooks that we sell so that we can lower the selling price in the future.
Advertisements: this is a common way of advertising that has many forms. It could be billboards, magazine posters in magazines or newspapers to mention a few.
The aim of this paper is to critically evaluate the SWOT analysis as one of popular tools in marketing. SWOT analysis is an analysis method of identifying all external and internal factors for organization strategies (Rauch, 2007). It is considered in this paper that though SWOT analysis has limitations, it can be improved to be more effective as its development. This paper firstly focused on the definition of SWOT analysis. And then it discussed the context of the SWOT analysis including its evolution and its applications. Followed by, the paper introduced two relevant practice cases based on SWOT analysis. Next, the critical evaluation of SWOT analysis was presented with
Assessment 1 Weetbix Section 1.1) Perceptual Map • Frootloops • Just Right • Crispix • Weetbix Competitor Analysis Data Table Attribute/Factors Brand Just Right Brand Crispix Brand Frootloops Brand Weetbix Business scope and objectives Expand overseas into new markets for people who live healthy active lifestyles Become a strong brand and can compete against other stronger brands around the world. Become a strong brand and can compete against other stronger brands around the world. Introduce more healthy options such as different products with different better ingredients Target Markets Woman that are active.
•BillboardThis is also another way to draw people's attention, but it might not be be as effective because the message might not reach the target customers.
Advertising is a such paid formation without personal presentation to promote particular product or service within a certain social media (Radio, TV, magazine, and so forth). Likewise, advertising is an effective way to inform customers geographically broadcasted with a comparatively minimal expense (Perreault, Cannon & McCarthy, 2015). An excellence
We intend to use radio networks to also promote the product. The reason for selecting radio networks are because the people that fall within our target market listen to the radio often. This insight is based on research that showed that most people within our target market listen to the radio daily. The specific radio networks we intend to use are Joy FM and Peace FM. The reason for selecting these networks is because most people that fall within the middle-class to upper-class listen to radio networks such as Joy FM whereas those who