In: Operations Management
You will write the marketing plan based on a business idea. If you do not have an idea, talk to your friends or family to come up with an idea.
I've an idea of "Restaurant Business" which will be in San Francisco. Marketing plan consists of four sections: Executive Summary, Market Analysis, Competitiors Analysis, and Marketing Strategy.
Executive Summary: Since my restaurant is in the business hub of USA, so we will serve variable products to different country people. Apart from physical layout I will use digital plateform for booking. Higher service quality and innovations will be part of our strategy.
Restaurant Market Analysis: I'll conduct research into my restaurant's niche and outline target market for my restaurant. The market analysis is important because it allows you to gain a firm grasp of your ideal customer. I will target middle age people, means person with family, because they have higher purchasing power. Additional restaurant specific information will be gathered from National Restaurant Association. From this information I will create target customer profiles, this will help me focus on my marketing efforts specially to these ideal customers. Strength of each Competitiors is their core competencies in products and weakness is low service quality.
Competitiors Analysis: Compton Place, Atelier Crenn, Coi, Quince, Gray Danko etc. are the best restaurant in San Francisco. Compton targets the teen age customers, and keep the low price of the products. Aliter Crenn offers continental products, and targets professionals. Gray Danko is the biggest competitior and it focuses on middle age people as my restaurant does.
Marketing Strategy: This is vital section of marketing plan. I'll invest some more money in advertisement. I'll use social media also for advertisement. Proper graphic design, advertising copy, customer service etc. will lead us to access more customers. I will focus on service quality with readiness, maintaining hygiene etc. Apart from this I will focus on variable products as I will welcome different country people with their native foods. I will also launch app of the restaurant so that I can offer home delivery service. I will welcome suggestions also so that I can make positive improvement.