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This plan is made for our Introduction to Marketing MKT 202 course, which was assigned by our course instructor. The initiator who wants to introduce a business and looking for a new service product, this plan can be used by them. Marketing is the process by which companies creates value for customers and build strong relationships in order to capture value from customers in return. It, more than any other business function, deals with customers. Now a day’s many new products are entering into the market. But maximum products cannot get success for lack of following the terms, like: Market segmentation, targeting market, positioning. If we want to introduce a new product, obviously we should specify the market segmentation, targeting market, positioning and positioning statement for the new product. And these factors can be specified through a marketing plan. For the target market we have decided to introduce the new type of fast food restaurant business. For this we have done research in the cities about what people think about pizzas (what role do they play in people's lives, when do they eat them and so on), what do they like about seafood, what do they dislike about seafood, What do they want from pizzas what are the expectations about our food, when they enter into our store. The research methods consist of several operations. The company had prepared questionnaires and then distributed them hand-to-hand to the target customers. We have also evaluated existing fast food restaurant brands and potential competitors. After finishing research we have decided to introduce the fast food restaurant on the basis of sea fish. Our Fast food restaurant is “Sea Food Hut.”
2. Executive Summary:
The following Marketing plan is about to introduce the new innovative fast food restaurant by Sea Food Hut Co. It is a new company that is marketing a new fast food restaurant containing seafood item in Bangladesh. Though Bangladeshi people are familiar with restaurant with chicken & beef items but now-a-days people are conscious about their health & nutrition. Research over the past few decades has shown that the nutrients and minerals in seafood can make improvements in brain development and reproduction and has highlighted the role for seafood in the functionality of the human body. So our company is considering these important factors and marketing an appropriate food items through fast food to solve these lacking and will give new taste to the people of Bangladesh. My company’s target is to achieve an adequate market share by establishing a strong and reliable relationship with its customers. The Bangladesh is my target country. Our company does not have to face competition from similar category fast food restaurant. There are no existing brands like us but so many brands which will act as substitute floor our restaurant. So, to it is a great challenge for the company. To get sufficient market share the company needs to follow the marketing strategies. The company needs to identify its target market needs and thus design the product. The company targets to achieve a double-digit growth rate for each future year. Marketing mix is been created for these products. The break even analysis is also done. The analysis shows that it will take 350 days to achieve the break even point.
3. Situation Analysis:
I, the owner of the restaurant named Sea Food Hut decided to originate and market different types of sea food (fish), which is not so available in our country Bangladesh situated in South-East Asia. Sea Food Hut Restaurant is entering its first year of operation. Its products are very well promising and marketing will be the key to the development of the brand and product awareness as well as the growth of the customer base. The Sea Food Hut Restaurant offers several different tastes, flavors of sea fish.
3.1 Assumption: There will no possibility to get a competitor with the same service up to next year.
3.2 Market Summary: To market such a service, The Sea Food hut Co. should posses’ good information about the market and should know a great deal about the consumers. This information will be used to better understand who is served, what their specific needs are, how to use the marketing strategies and how to communicate with the consumers.
3.2.1 Market Demographics:
The profile for The Sea Food hut Co. consumer consists of the following demographic factors. To market the product the company needs to do market segmentation and have segmented the market in this sector.
Demographic Segmentation: # Generation- The consumers of the target market will be of between 5-45 years ages. # Income- High and moderate earners will be the target market.
3.2.2 Market Needs:
The people of Bangladesh are aware about their health & fresh food to get nutrition. The seafood (fish) the item that contains nutrition, minerals & iodine those are essential for the proper function of human body. So, there is a lot of demand for this kind of service.
3.2.3 Market Trends:
Because of the consciousness of the people of Bangladesh about health, they are now searching a fast food restaurant, which will remove the blame about the fast food that it is bad for health. They are taking food for their satisfaction and change brands if it fails to satisfy them. As there are a lot of brands it is difficult to satisfy the consumers and keep them by providing them taste & healthiness.
3.2.4 Market Growth: The tendency of people of Bangladesh is increasing to take ready food. There are introducing many fast food restaurant everyday. The market growth rate is increasing in Bangladesh.
There are a lot of existing brands of fast food restaurant. There are foreign brands as well as some local brands also. Here three best competitors of fast food restaurant are discussed.
i) Pizza Hut ii) KFC iii) A&W Restaurants.
i) Pizza Hut: Pizza Hut is not only the acknowledged leader of pizza industry worldwide, but it is also the world’s largest pizza chain with more than 6,100 restaurants in the United States and over 5,500 restaurants in 97 countries and territories around the world, employing more than 300,000 people, serving 1.7 million pizzas everyday to more than seven million customers.
Transcom Foods Limited, a concern of Transcom Group is the franchisee of Pizza hut in Bangladesh. With a seating capacity of 220 persons, the first outlet of Pizza Hut opened 5
South Avenue, Gulshan-1 at 6th December. Currently there are three outlets, two in Dhaka which are situated at Gulshan and Dhanmondi other at Chittagong. Very soon Pizza Hut is going to open another new outlet in Dhaka (Baily Road). All foods served in the outlets in Bangladesh are 100% halal. Excellent food & service at affordable prices
The first and the only truly international chain restaurant in Bangladesh, Pizza Hut offers the same great taste, wonderful dining experience and excellent service at affordable prices.
Their goal is to become the best restaurant operator in the industry, they believe that it can only be achieved by focusing exclusively on customers.They train their all team members and officials on 'Customer Mania'(The objective is to satisfy customers in every possible way, i.e not only serving there desired items, accurately and promptly, but also making sure that there is absolutely no compromise in their hospitality) to enlighten them about the importance of being passionate about their customers. Not only do they listen and respond to their customer's needs, also try go far above their expectations.
Pizza Hut uses environmentally friendly materials where applicable, e.g. water based paint and recycled Pizza boxes.
ii) KFC KFC stands for high quality fast food in a popular array of complete meals to enrich the consumer’s everyday life. KFC strives to serve great tasting, “finger licking good” chicken meals that enable the whole family to share a fun. Uninhibited and thoroughly satisfying eating experience, with same convenience and affordability of ordinary Quick Service Restaurants. KFC in Bangladesh Transcom Foods Limited, a concern of Transcom Group is the franchisee of KFC in Bangladesh. The first ever KFC restaurant has been opened in September at Gulshan, Dhaka with a seating capacity of 178 persons. In the coming days, KFC plans roll out more restaurants in Bangladesh
iii) A&W Restaurants. A&W was arguably the first successful food franchise company, starting franchises in 1921. Today it has franchise locations throughout the world, serving a typical fast food menu of hamburgers and French fries, as well as hot dogs. A number of its outlets are drive-in restaurants with carhops. The company name was taken from the last name initials of partners Roy Allen and Frank Wright. The chain is currently owned by Yum! Brands.
An A&W outlet in Gulshan 1, Dhaka, Bangladesh. A&W opened its first outlet in Bangladesh on 15 December 2004. This 170-seat outlet is located at Gulshan 1, Dhaka is the largest A&W outlet in South Asia. The food served is 100% halal and is very popular with the local youth population, with root beer being the driving force of the large number of sales. A&W Bangladesh serves an "All you can eat offer" during the Muslim holy month of Ramadan and "Baishakhi Bonanza" during the Bengali new year. As of August 2008, the restaurant was closed due to unknown reasons and is said to reopen in mid 2009 at new location in Gulshan 1.
3.3 Sales: The following table forecasts sales based upon the Market Segmentation Strategy. Sales will be all over the year in this industry. The sales will steadily increase as the advertising budget increases. Sales forecast and also the cost of sales of this service for the first three years is stated in the following table( in TK ).
Projected Sales Sales
Direct Cost Of Sales Subtotal Cost Of Sales
3.4 Strategic Markets: The planning process that yields decisions in how a business unit can best compete in the markets it elects to serve. The strategic plan is based upon the totality of the marketing process. Here the strategic markets showing our companies projected sales into each key market segments and the % share of individual markets in following 3 years ( in TK ).
2010 High Income Moderate income Others Total 4290000 33000000 15840000 12870000
% 48 39
2011 18810000 18810000
% 45 45
2012 21168000 2016000
% 42 40
Graphical presentation of sales forecast on the basis of market segmentation.
60000000 50000000 40000000 30000000 20000000 10000000 0 2010 2011 2012 High Income Moderate income Others Total
3.5 Key Products: The Sea Food Hut Restaurant will contains the following Sea fish food itemAPPETIZERS
1) Pasta Sea Food
2) Hot Teriyaki
4) Pakistani Fish-and-Chips
5) Dizzy shrimp
6) Shrimp Noodles
7) Bali noodles
8) Bird nest of Bali
9) Sea Food Strew
10) Seafood Pizza
SOUP & CHOWDER 1) Lobster soup
2) Lobster chowder
3) Shrimp Soup
4) Prawn Chowder
5) Bali Soup
LAUNCH & DINNER 1) Chanda Fry
2) Fried Shrimp
3) Grilled Salmon
4) Prawn & Curd Curry
5) Saucy Fish Cutlets
6) Prawn Shaslic Vegetable
7)Spicy Maach ( Fish )
8) Fish Kofta
9) Fish Vegetable Curry
10) Fish Pineapple Curry
OTHER ITEMS 1) Special Mutton Jhol Curry
2) Thik Gravy Chicken Curry
3) Tandoori Chicken
4) Meat Kabab
3.6 SWOT Analysis:
The following SWOT analysis captures the key strength and weaknesses within the company, and describes the opportunities and threats facing Unity Co.
3.6.1 Strengths: The demand of the product. Good relationships with many perspective customers in the target market. Cheap labor cost and well trained employees.
3.6.2 Weaknesses: The need for reliance on outside investor Consumer’s unsteadiness for being with a specific brand. The difficulty of developing brand awareness as a start-up company.
The increasing number of users. Increasing sales opportunity.
3.6.4 Threats: Potential competition from larger, well established competitors.
3.7 Key sales areas: Key sales areas are the 5 places of Dhaka city.
Projected sales in tk. in following years.
2010 Uttara Dhanmondi Bonani Gulshan Farmgate Total 6900000 7000000 6600000 6200000 5400000 32000000
2011 8580000 9980000 8280000 8240000 6720000 41800000
2012 9999000 9989000 9685000 9695000 9682000 50400000
4.0 MARKETING OBJECTIVES: Establish this brand as a pioneer in this sector Generate brand equity at the consumer Market. Develop brand awareness and acceptance, quantified by a decrease in customer acquisition costs. Steadily increase market share by 5% every quarter. Continue to decrease the variable costs associated with the production. Develop efficiency and effectiveness in the production of the service through advanced technology and scientific analysis.
5.0 MARKETING STRATEGY: The 4p of The SEA FOOD HUT CO. is discussed Below
SEA FOOD HUT ( Fast Food Hut Restaurant)
PRODUCT Sea fish items which has four division Appetizers Launch & Dinner Items Soup Other Items ( Chicken & Meat )
Items Pasta Sea Food Price (TK ) 150
Hot Teriyaki 280 Fish-and-Chips 65 Pakistani Fish-and-Chips 120 Dizzy shrimp 210 Shrimp Noodles 180 Bali noodles 180 Bird nest of Bali 150 Sea Food Strew 250 Seafood Pizza 200 Soup
Items Lobster Soup Price (TK ) 130 (Half ) 220 (Half ) 110 (Half ) 200 ( Half ) 150 (Half )
Lobster Chowder Shrimp Soup Prawn Chowder Bali Soup
Launch & Dinner
Items Chanda Fry Price (TK ) 200
Fried Shrimp 220 Grilled Salmon 380 Prawn & Curd Curry 250 Saucy Fish Cutlets 180 Prawn Shaslic Vegetable 220 Spicy Maach 200 Fish Kofta 150 Fish Vegetable Curry 180 Fish Pineapple Curry 190 Oter Items Special Mutton Jhol Curry 230 Thik Gravy Chicken Curry 185 Tandoori Chicken 350 Meat Kabab 280 Beef Korma 250
PLACE Location: Within The Dhaka City Inventory: Specific amount of inventory will be maintained for backup.
Transport: There will be self Transport system for gathering ingredients of food items.
PROMOTION Advertising Advertisement efforts more than the competitors. Giving initial discount
The vehicles we will for their advertisement are usually these:
Radio Billboard Newspaper Magazine Shop signboard.
6.0. SCHEDULES: The following areas will be monitored to gauge performance: Revenue- monthly and annual. Expenses- monthly and annual. Customer satisfaction. Advertising programs.
6.1 Implementation: The following milestones identify the key marketing programs. It is important to accomplish each one on time and on budget.
Milestones Milestone Marketing completion Advertising campaign(1) Advertising campaign(2) Development the retail channel Totals of 05/09/09 15/09/09 15/10/09 30/11/09 05/10/09 20/11/09 Start Date plan 24/08/09 End Date 05/10/09
Plan Budget 0 Manager AFR Department Marketing
7. SALES AND PROMOTION:
Sales promotion is one of the four aspects of promotional mix. (The other three parts of the promotional mix are advertising, personal selling, and publicity/public relations.) Media and non-media marketing communication are employed for a pre-determined, limited time to increase consumer demand, stimulate market demand or improve product availability. 7.1: Distribution channel:
There are no needed of distribution channel because it is a service and the producing & consuming will be occurred at the same time.
7.2: Advertising and Promotional Campaigns:
As a new business organization in the market and trying to establish a new brand, so it needs a huge promotional campaigns and advertisement programs to create awareness among mass people. At the beginning it will give 10% discount. As its price is competitively low than that of competitors it will capture a better public concentration. It will use both electronic media and print media for giving advertisements. As there is some strong and established laundry soap brand in the market, so must take huge promotional and advertisement program to capture the market.
.It will address Break-even Analysis, sales forecasts, expense forecasts, and indicates how these activities link to the marketing strategy.
8.1 Break-even Analysis:
Here, Estimated Fixed Cost = 3000000 Estimated per day sales= 100000
Break Even Point =
Estimated Fixed Cost Estimated per day sales
From the break even analyses it can assume that after 300 days we will achieve our estimated profit.
8.2 Expense Forecast:
Activities BILLBOARD PRINT MEDIA EVENTS POP MATERIALS PRESS CONFERENCE Ad Firm
Total 300,000 80,000 50,000 150,000 120,000
9.1 Contingency Planning: A Contingency plan is a plan devised for a specific situation when things could go wrong. Contingency plans include specific strategies and actions to deal with specific variances to assumptions resulting in a particular problem, emergency or state of affairs. They also include a monitoring process and “triggers” for initiating planned actions.
Difficulties and Risks: Problems generating visibility.. An entry into the market by an already established market competitor. Determining that the business cannot support itself on an ongoing basis. Having to liquidate equipment or intellectual property to cover liabilities.
1. www.mplans.com 2. Marketing Management-Philip Kotler and Kevin Lane Keller. 3. Business Communication- Lesikar. 4. http://www.google.com.bd/#hl=bn&source=hp&q=marketing+plan&btnG
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