Marketing NMIMS Assignment

Download as docx, pdf, or txt
Download as docx, pdf, or txt
You are on page 1of 9

C

1. Italiano is a popular restaurant in the Vile Parle area of Mumbai. The lockdown and subsequent
Covid restrictions force the restaurant to shut shop. The owner Mr Ranjeet Sharma is also the
main chef of the restaurant decided to start operations from home and use the apps of Zomato
and Swiggy to run the place as a cloud kitchen. The business not only survived but became a
profitable venture. The recent lifting of restrictions as put Mr Sharma in a quandary, should he
now re- rent restaurant space at a very expensive rental value or should he continue to run it as a
cloud kitchen. He has approached you, a marketing consultant for advice on devising a plan of
action. What would you advise? Create a plan of action for the business. Create a communication
plan. Create a consumer outreach plan.

Ans-1:
Introduction
Preparing a business plan is a crucial first step in turning an idea into an actual business. Without it,
stakeholders whether internal or external will have no way of knowing if the business is feasible or
when the restaurant will become profitable. Business plans spans hundreds of pages but long process
of writing a business plan can threaten to overwhelm. To create a fruitful business plan for a
restaurant we must include the following:
Business Overview
The owner of Italiano Mr. Ranjeet Sharma wants to start a new vertical of the business which is
luxury Dine-In Restaurant for he wants to rent restaurant at a very expensive rental value. Though he
already has well established a domain in cloud kitchen, which will enable him to share the core
resources of his current business and makes the new venture less risky.
I would consult him to go on with the idea of setting up a new restaurant and follow set of analysis to
come to a viable business model.

Industry and Market Analysis


Industry and Competitive Analysis
A competitive analysis is the methodical practice of analysing competition to understand the
marketplace and define your place in it. After the COVID-19 pandemic, people are looking for more
healthy, spacious, hygienic, and secured premises. After revoking the restrictions of lockdown, people
want to go out for they have been in their homes. Meeting people over closed social places have been
a rise since people want to meet in real but with precautions.
Location
Location now have been the topmost priority for people after the COVID-19, people tend to find
hygienic places more over the preference of food and taste. Location with more space and closed to
nature will make people feel more contended.
Target Market
Since there has been a rise in the percent of audience who prioritize health and are spending more just
to ensure their and their family safety. We can target the audience of Mid and High-level income
group.

Brand Building
This section explains what brand name and experience the restaurant should create. The picture of
what potential customers can expect when they walk through the door. If Mr Ranjeet wants to
continue the same restaurant Brand named Italiano, he should have a focused menu of Italian Dishes
with same aura and ambience as one can experience in authentic restaurant in Italy. We should also
consider the size of customers that look for Italian food before launching the brand.

Operating Model
This section defines how to run the business and put the things right in place to fulfil the orders
efficiently and accurately. We can change the end-to-end experience of ordering the food in all
different ways. For an efficient function we can have built:
Kitchen Display Screens
Digital Ordering and Payment for Dine In
Online Table reservations
Digital Point of Sale
Inventory Management System

Financial Projection
It is analysing the cost of starting the restaurant and how much revenue the restaurant is projected to
make. Depending upon the footfall and ticket size of each customer we can determine, in how many
months the restaurant can achieve its break even point and start earning profits.

Marketing Strategy
A market strategy is turning the prospects into a profitable customer, to have a better reach to the
customer in initial times, we can use our monetary resources in
ATL, BTL promotions.
Google Adwords and Reservations
Improve presentation of dishes so they are instagrammable
Loyalty Bonuses
Interacting with existing customers via SMS, mailers.

Consumer Outreach Plan


Building good customer relations is more important than just developing a good product, pricing it
attractively and making available to the right customer. Companies engage customers and
communicate their value propositions to the customer and what company wants to communicate to
them. Just like building a relation is important in human lives, it is essential for a company to engage
its customers and build profitable customer relationship. To engage the customer every company
needs a communication plan which is a part of marketing communications mix or promotion
mix. Five major promotion tools are defined as:
Advertising
Advertising is means of communication that use openly sponsored, non-personal message to promote
or sell a product or service. The first stage of communicating with prospect is through advertising the
product at mass, so the consumer may know the availability of it in the market. In the case of Italiano
advertisement in the form of Flyers, Posters, News Paper and in-mail is to make inform a wide set of
people in the nearby locality. Advertising creates greater public awareness and focus on benefits of
visiting the establishment and the difference it offers, compared with competitors.
Personal Selling
Personal selling is sales presentation made in person by sales representative for the purpose of
engaging customer, making sales and building customer relationships. It is the oldest form of selling,
through making the interpersonal interactions between the salesperson and customer. Italiano can do
personal selling through the restaurant staff talking directly to the customers. The staff should be
trained and aware of the importance of boosting business by selling restaurant, as well as individual
items.
Sales Promotion
Personal selling and advertising often work closely with sales promotion, Sales Promotion consist of
short-term incentives to encourage the sales of a product or service. In short Advertising offers reason
to buy the product and sales promotion offers reasons to buy now. Promotional scheme like discount
coupon on referrals, loyalty, BOGO offers should be employed to increase revenue and customers in
the initial phase.

Public Relation
Public relations engage customers and make a brand part of their lives and conversation. Restaurant
PR is not just about publicizing the food but the restaurant itself. These can range from food served, a
specialty item, some event even restaurant interior design. Exercising promotion through PR can have
a much strong impact at a much lower cost. The difference between marketing and PR is that
marketing advertises the product to the whole mass, but PR helps in engaging and experiencing the
product through different channels like blogs, brand videos, social media activities and influencers.
Direct and Digital Marketing
It is promotion of brands to connect with potential customers using the internet or other form of
digital communication. It involves Search Engine Optimisation, Social Media Marketing, e-mail
Marketing, and content marketing to directly connect with the prospect. Communicating directly with
the prospect have a higher chance to become a customer.
Outreach is a complex process that needs to be fine-tuned. There’s no uniform, one-size-fits-all
approach that can be applied, which is why we need to balance every single element to attract
different set of customers.
Question 2:

You are the marketing director of Football Federation of India. Soccer as a sport
although very interesting is not a popular audience sport in India. How would you
generate consumer interest in Football? Create a marketing plan for making Football
as a consumer sport using the marketing mix principles.

Ans-2:

Introduction

A marketing mix includes multiple areas of focus as part of a comprehensive marketing plan.
The term often refers to a common classification that began as the four Ps: product, price,
placement, and promotion. Effective marketing touches on a broad range of areas as opposed
to fixating on one message. Sports Marketing is the application of marketing concepts to
sport product, services, and the marketing of non-sport products through association to sport.
In the case sports marketing would be the ads to promote a particular sport and using the
event as an opportunity to promote at scale that would generate consumer interest in the
sport.

Concept & Application

To generate consumer interest using marketing mix will be as sports marketing where we
must promote football and engage consumers from different parts of India so that Football
Federation can meet its goals of viability and giving rich consumer experience. The fact that
four elements are grouped into a set or mix is important because they should be coordinated
together in an integrated fashion.

Product
The main and centre of marketing mix is product. A product is anything that satisfies a need
or wish and is acquired to do so. In related to sport, two important concepts have implication
for sports marketing The first is the core product as actual Game i.e., Football game and
gameplay and the second is the importance of concept to the overall marketing effort. We as
sport marketer have no control over the game, how good it will be and how the athletes will
perform but we can control and ensure that acceptable levels of quality are achieved.
I my belief being football an intangible product which a consumer cannot take away, but we
may include services, people experience, places ideas from which consumer may draw the
benefits. The main benefit out the sport is the lifestyle that a consumer gets and in football
sport we may also include the product like design, tickets and theme of sport and
merchandise. We can also change the pattern of tickets to change the concept like game for a
family entertainment can be offered as family ticket or the package could serve a good place
to make business contact can be offered as business ticket or as an initiative for community,
we can offer ticket plan to NGOs.

Price
The price of a product is what service or product a consumer derives in exchange of the value
of it. Price is the most visible and flexible because of sales, discounts, and rebates. Creating a
good strategy for pricing is integral part to generate consumer interest in football.
We must determine the right price for every product, be it sport event or merchandise.
Effective pricing will generate more interest and it the easiest to manipulate at different
times. Promotional pricing can be used for competitive ticket pricing (compared to different
sport), discounting tickets or membership plans to get cheaper tickets and merchandised. In
the final analysis we have to analyse that in order to create more awareness and engagement
of every individual we have to target all set of consumers since football has no bar for
consumer’s financial standard we must target every set of customers like students, family,
couples, and businesspeople and ensure consumer perceive the value and experience of
against the price they pay.

Place

Place is the geographical location in which sells its product and provide its services. It is the
process to get the product or service deliver to the consumer. To promote Football, we have
to choose the right place where the stadium will be located to attract more customers, point of
sales for tickets, sales over the call, internet and geographical location of target market. Since
we are focused on pan India distribution, we must precisely select the location of stadia at
each state considering ease of connectivity (like metro, airports), appropriate geographical
climate, easy pedestrian accessibility (parking, walkways), pleasant surroundings. Along with
the locality the place mix also includes the indoor stadium layout accessibility, aesthetics,
seating comfort, electronic equipment and display, facilities cleanliness. All these have a
significant influence on how the consumer perceive the quality of stadium. Higher the quality
of service leads to higher satisfaction and later may build a long-term relationship, so they are
likely to come more often.
In modern age distribution also includes broadcasting the event at TV channels, OTT
platforms and video sharing platform (YouTube). Choosing the right channels to deliver
sports like football will create more interest among consumers like choosing sports channel
having higher viewership. In region like India, we have to broadcast on private sports channel
along with Doordarshan also, which still have higher viewership.

Promotion
Promotion includes advertising, public relations, and promotional strategy. The goal of
promoting a product is to reveal to consumers why they need it and why they should pay a
certain price for it. The process involves variety of methods for gaining attention of potential
customers once marketer has consumer attention the marketer must keep it long enough to get
a message across.
To create consumer interest, promotion is the predominant marketing mix. Since it is the only
way that creates direct public relations, digital media promotion, building brand awareness
among other marketing elements, all these promotional activities are designed to attract
attention, simulate the interest and awareness of consumer and encourage them to purchase
event ticket or merchandise. Promotion in football includes advertising, sponsorship, public
relations, licensing. While advertising is paid, non-personal communication include print, tv
and online ads, sponsorship is relation between corporation and Indian football federation to
create brand image. Public Relations is collection of communication, media and activities to
directly interact with target audience. Licensing is creating strategic alliance between
manufacturer of football merchandise with the federation and give permission to use
federations logo and trademark against royalty. From all these activities we can generate
more interest among the audience and create football a consumer sport.

Conclusion
All the marketing mix elements can be manipulated accordingly as per the need of the
consumer, for area like northeast region where there are more football enthusiastic sportsmen
should have more of promotional mix than other mix and area like north India where there
are sports enthusiast but lack awareness of football, price and product mix will play important
role initially. Develop the right product at right price offered at right place and promote it
with right methods is the key to create more consumer awareness and interest.
Question- 3:
You are the marketing director for Super max theatre chain. You want to build a footprint for
the chain across India. Before the commercial launch of the service you want a better
orientation of consumer expectations

a. Plan a research program with clearly defined target groups, geographies, demographics you
shall plan your research project.

Ans:3 a

Introduction
Entertainment is a source that holds the consideration and enthusiasm of a group of people.
Movies are the most essential source of entertainment in India. To plan research project, we
have to first determine the scope of research, which means we have to decide for what
outcome we are planning the research. Send the whole idea behind the research is to launch a
new theatre chain understood arrive customer value and better consumer expectation. We
have to make different marketing strategies 4 define groups, geographies and demographics.

Concept & Application

To design a winning marketing management strategy, we have to consider factors like


convenience, safety satisfaction and price. This would help Super Max to improve and to
sustain in the market against big giant like PVR and inox cinema. As we are opening a new
business from scratch the first would be 2 research the demographics.

Demographic
Demographics include the general profile of the customer that can be differentiated based on
age, gender, occupation, and income. It has been seen that people with do spend leisure time
based on occupation, student and service class people regularly watch movies. The age
between 18 to 30 years has the maximum percent of share of total group. Based on this it is
conclude that supermax should open its theatre in tier one and Tier 2 cities for higher
viewership and should be in the vicinity of commercial spaces.

Target Group
it is the target audience whom the Super Max will serve. Entertainment industry serves every
individual irrespective of classification. Being a Multiplex super Max have a target audience
whose family income is good enough to afford. It is the only way to serve well and being
profitable.

Geographical
India is a mixture of different traditions languages, religion, and culture. Even Indian states
were created based on of linguistic approach. Also, regional movies are being promoted by
their own region like Punjab, West Bengal, Tamil Nadu, Andhra Pradesh, Assam have their
own film industry. Show to operate profitably we have to adopt local regional movies to.
Along with regional movies and taste the geographical factor also determine the place where
it must be opened. Being a chain of multiplexes, I would suggest opening in every state’s
capital along with Tier 1 and Tier 2 cities.

Conclusion
All the above factors consider is due to create a viable customer value driver marketing plan.
Since it is the art and science of choosing the target market and building profitable
relationship with the customer. Based on the above conclusion target market, demographic
and geographic factor we have to efficiently execute marketing strategy plan to enhance
customer experience.
b. Create a 10-question survey questionnaire.

Ans 3b:

Before opening of theatre in a city the questionnaire would be as:

Q-1. How often do you watch a movie at theatre?


1. Once a week
2. Once in 15 days/ Fortnite
3. Once in a month
4. Occasionally

Q-2. What is your age?


1. Below 18
2. 18 to 30
3. 30 to 60
4. 60 and above

Q-3. how much you can spend for a movie?


1. Below 300
2. 300 to 500
3. 500 to 1000
4. 1000 and above

Q-4. What do you do for the living?


1. Student
2. Job/ Service
3. Self-employed/ professional
4. Business

Q-5. From which mode you prefer to buy the tickets?


1. box office (at the theatre)
2. theatre website/ app
3. online 3rd party website/ apps

Q-6. What kind of movies you would prefer to watch?


1. Regional movies
2. Bollywood (Indian movie industry)
3. International movies

Q-7. How much distance you can travel for a movie?


1. 1 to 5 kilometres
2. 5 to 10 kilometres
3. 10 and above

Q-8. Whom would you prefer to go with?


1. Family
2. Friends
3. Alone
4. Partner
Q-9. Which of the extra services you would have a preference for your convenience?
1. Good cafeteria
2. Kids section
3. Parking
4. All of the above

Q-10. In which dubbed language you would like to watch a movie?


1. Regional language
2. Hindi
3. English
4. Original

You might also like