Tracy has been asked to write a marketing plan for a new restaurant. What content will...

Tracy has been asked to write a marketing plan for a new restaurant. What content will she include in this plan? Be specific and relate your answer to a restaurant.

Expert Solution

The marketing plan would include following components:

Market research

Identify consumer habits their taste and preferences for food delicacies, science, and the current trends in the food and Hospitality industry

Target Market

Identify the target market like millennials and generation by population would go for fast food, while baby boomers would opt for more healthy food options

Positioning

Restaurant can be positioning based on category of food like Italian or meditarian, ambience or service

Competitive analysis

Identify the competitors in same locality

Market strategy

Analyse competition by using the tool of Porter five forces and SWOT analysis.

Budget

Development by month by month schedule of what crazy plans to spend on marketing and customer services

Metrics

Establish performance metrics so as to gauge the performance and evaluate the result and budget can be compared against the actual return on investment.

keosha answered 1 year ago

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