Marketing Strategy : Ac Restaurant

1048 WordsFeb 13, 20165 Pages
LO1.1: Marketing: is defined as a ‘business orientation whose target is to satisfy consumers’ needs or wants at standard levels of revenues and costs’ (Loudon et al., 2010, p.2) (Dudovskiy, 2014). Marketing process: comprises of several steps and these steps are analysed below: 1. Analysing marketing opportunities: generally, Afro-Caribbean comes to know about its market opportunities by examining current and future market trends, current resources and capabilities, internal and external environment (Template, 2011). 2. Selecting the target market: the following element is choosing of target customers for their goods and services. AC restaurant segments the whole market in different parts by various aspects and selection of one of their best products and services (Template, 2011). 3. Marketing strategy: AC restaurant starts marketing strategy after selecting the target market and commercialization strategy is made up of value proposal, targeting, segmenting and positioning of goods and services (Template, 2011). 4. Marketing mix decisions: this is the stage which determines marketing mix for organisational goods and services. Marketing mix covers pricing decision, promotional marketing campaign growth, distribution agreements and product growth (Template, 2011). 4. Implementation and control: are the last stages of marketing process where strategies are implemented and monitored. Therefore, management changes the current marketing mix and advertising they think is not
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