MKT101A - Marketing Fundamentals: Plan And Analysis Essay

Question:

Learning Outcomes Addressed
a)Describe the marketing concept
b)Outline and apply the elements of the marketing process.
c)Identify and explain the macro and micro environmental factors impacting the marketing of a business or industry.
Demonstrate an ability to incorporate new trends to solve marketing problems and apply communication skills.
Context
You have been working as a marketing assistant for Talented Gen & Co. - a small marketing agency located in Sydney. Last week, Mary Blue - your marketing manager - has offered you a position as junior marketing associate, and to be successful, you need to develop a comprehensive marketing plan for a client of your choice.
Generally, Talented Gen & Co. assists small and medium size businesses in Australia with different marketing strategies; therefore, you should consider firms that follow the same scope. For instance, you could create a marketing plan for a new packaging, a flavour of a product, a feature that could be incorporated into an existing product, promotional strategies for existing products/services, an additional service that could be offered to increase value and/or increase competitive advantage, and so forth.

Answer:

Introduction:

The previous directors of The Crust Pizza, teaming up with The Pony Dining created the typically Greek restaurant named Zeus Street Greek for selling authentic Greek street foods. After initially opening a food joint in Sydney, the company have now opened branches in Drummoyne, Rosebery and few others sectors. The company have an exquisite menu of Greek cuisines. However, in the scope of this report emphasis have been laid on the marketing strategies of the company. Other than cuisines, the company also need to consider other factors like interior designing and other external promotional strategies that includes aspects of Greek culture. Demonstration of filoxenia is at the heart of the projected strategies for Zeus.

The market variables for the Zeus Street Greek is also required to be analysed. the Market variables analysis of the company is as follows:

The variety of cuisine is the greatest strength of the restaurant. The authentic taste of the Greek food and reflection of the Greek culture is evident in the menu of the Zeus Street Greek. This is why majority of the visitors here are among the loyal base of customers. Other than that the restaurant is also popular among the foreign visitors in Pitt Street

The lack of promotion and marketing grandeur is one of the major reasons why the restaurant have been ranging on an average percentage of visitors. Many of the local food lovers are not aware of the Greek cuisine at the restaurant. The promotional gap is the reason for this lack of attention of the customers.

Opportunities

  • Large number of customers who can act as a big base of target customers
  • The Live kitchens of Zeus is a speciality that can give them a competitive edge (Discovergreece.com, 2018).
  • The food delivery facility can enlarge the target customers base of Zeus

Threats

  • Presence of large number of restaurants and street food joints
  • Lack of active promotional activities
  • Lack of professionalism in service

PEST analysis

  • Repeated government regulations for the restaurants to prepare low sodium and less sugar rich foods
  • Health Menu Choices Act requires that the restaurants join the PR campaigns against obesity (Slocum & Saldanha, 2016).
  • The regulation of having a minimum percentage of indigenous workers in the labour force increases the operational cost.

The company have invested major part of their fiscal budget for organisational expansion and in the last 3 years they have opened branches in many parts of Sydney. This is why, budget allocation for promotional activities is very difficult.

The customers favour Pitt Street for the availability of various kinds of cuisine (Quilter & McNamara, 2015). This is an added advantage for the company. However, many of the customers are unaware of the position of Zeus. Hence, in spite of the brand popularity many customers do not visit the restaurant.

One important de-merit of the company is that the restaurant does not have automatic check out facilities. The application of the restaurant for ordering food is also not bug free.

1821 is a major restaurant that have been in to competition with Zeus Street Greek. The suppliers as well as the target customers of the two companies are the same. There is also much similarity among the cuisines offered by the two restaurants.

The Sea Bay restaurant is a Chinese restaurant and Chinese street food have large variations.in fact Chinese cuisines is highly popular among the Australian customers. Lastly the prevalence of large number of Asian originated people in Australia makes Chinese as well as Sea Bay more popular. This is Sea Bay is superior in competition to Zeus Street.

Reference List

Ang, I. (2016). At home in Asia? Sydney’s Chinatown and Australia’s ‘Asian century’. International Journal of Cultural Studies, 19(3), 257-269.

Discovergreece.com, (2018). Authentic Greek cuisine. Retrieved on: 10th October 2018. Retrieved from

Quilter, J., & McNamara, L. (2015). Long May the Buskers Carry on Busking: Street Music and the Law in Melbourne and Sydney. Melb. UL Rev., 39, 539.

Roos, G. (2019). Understanding Luxury Food for the Asian Markets Through an Intellectual Capital Lens: The Case of the South Australian Food Industry and the Chinese Luxury Food Market. In Harnessing Marine Macroalgae for Industrial Purposes in an Australian Context: Emerging Research and Opportunities (pp. 201-254). IGI Global.

Slocum, R., & Saldanha, A. (Eds.). (2016). Geographies of race and food: Fields, bodies, markets. Routledge.

Zeusstreetgreek.com.au, (2018). ZEUS HAS YOUR CATERING NEEDS COVERED. Retrieved on 10th October 2018. Retrieved from

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