Performance Analysis

Performance analysis deals with how business is using resources to entice the current and
potential customers to buy from them. Marketing mix plays a vital role when it comes to
performance analysis as they both are interconnected. Performance Analysis includes Product,
price, promotion and place.

Product

Let’s shed some light on the first component, Product. The term product includes consumer and
industrial goods and services. Goods have physical existence. Whereas Services has no physical
existence, good service can entice customers and can help business to build a legitimate
relationship with their customers, hence this can result in brand loyalty. Every customer looks to
consume a product or service which offers them the best quality with satisfaction. Beyond
Veggie claims that they offer a quality product but they still lack to fetch high market share and
is currently performing below expectations, even though they serve premium food quality.

Price

Price is the amount paid by customers for a product. Price has a substantial impact on the
consumer demand for the product. The price level of the product showcase the value added to the
components that a business brought in at the initial stage, for instance, the vegetables that
Beyond Veggie uses to prepare food. Moreover, it also reflects the objective of the business that
what business is trying to achieve as in this scenario; Beyond Veggie is charging premium prices
to establish the identity of a product. Premium price means quality Product.

Promotion

They are promoting the brand via their slogan “Go Green”. It reflects that Beyond Veggie is also
implying the CSR (Corporate social responsibility) and is also promoting the brand on the CSR
basis. They are also promoting the Brand on the Slogan “All pure Natural fresh” this shows that
the ingredients that are used are fresh and the consumers are eating food prepared with quality
ingredients.
Place

Last but not the Least, Place, It is one of the component of Performance analysis where Beyond
Veggie has a strong hold over it, As they have plenty of branches all around the Malaysia and
even have branches in Singapore, Myanmar, Indonesia, Thailand, China and Brunei. This means
that there are sheer amount potential customers that it can cater. However catering them
effectively will inevitably need effective strategies.

OBJECTIVES

If we consider business objectives of Beyond Veggie, the 3 main objectives that Beyond Veggie
is dealing with are:

-Targeting Veggie Lovers

Beyond Veggie’s core objective is to cater the vegetarians as there are not many restaurants that
focus specifically on vegetarians that must be the initial objective for the business as they might
have thought they can capture sheer market share but it turned out to be a different scenario as in
Malaysia there are only 5% of the population who are vegetarians.

-Entering Local and International Markets

Beyond Veggie’s another objective is to not only cater the local customers but also to cater the
customers in different countries. This gives the business the opportunity to make most out of the
scenario. Operating internationally can reduce the cost of production and can complete with the
local firms of other countries.

-Capture Maximum Market share

Lastly, like every other business Beyond Veggie looks forward to maximize its market share. As
a Vegetarian restaurant, it’s quite different compared to other restaurants, hence it’s an
opportunity to entertain sheer amount of audience and maximize the market share of the business
but correct strategies are to be implemented in order to achieve the goal.
TARGET MARKET

Age 18-34
Occupation White collar
Income RM 2000+
Life Style Above Average
Geographical Malaysia, China, Singapore, Brunei Myanmar, Indonesia, Thailand

What is Target Market? Target market also refers to the target audience, It is what business
wants to target and what type of customers business wants to cater. Further branches are Mass
marketing and Niche Marketing.

AGE

Beyond Veggie caters the age groups from 18-34 as this age includes students, employed people
and this is the age where one opts what eating pattern they should focus on. 78% of the vegans
go to vegans at the age of 16-34. This is the age where Beyond Veggie can influence their
decision and can grab long term customers.

Occupation, Income & Life style

Occupation Income and Life style are interconnected as people with White collar jobs draw a
decent amount of incomes hence it affects the life styles of the consumers. Beyond Veggie
charges premium prices for the products they offer so they can’t target people with blue collar
jobs. Why people with above average life style? Nowadays people are more health cautious.
Good Occupation and income means good lifestyle.

Geographical
Geographical factor plays an essential role when it comes to target market for Beyond Veggie,
As Beyond Veggie is operating locally and also Internationally. Target Market for Beyond
veggie is not only the local market but also the international market, Hence it also needs to deal
with the pro and cons as it is competing with substantial amount of competitors.

STRATEGIES

Every business objective needs a driving force which is known as strategy, Strategies play a
vital role and are the main essence of the business success or failure. Narrowing it down, 2 of the
strategies are:

-POSITIONING STRATEGY

Position strategy is implied to make a brand image in the head of the consumers. Word of mouth
plays a vital role if strategy is successful; if the image is good in the consumers mind, one will
inform others which mean business can benefit of free marketing from its customers. Beyond
Veggie has set up an image of using immaculate and fresh ingredients and is striving hard to set
a good quality image. Once it’s done, business can enjoy success.

-MESSAGE STRATEGY

When it is down to a marketing message strategy, it must be simple. Simple messaging is not
easy to initiate. In fact, “simple” here refers to, a clear, concise, idea wrapped in a likeable
identity. Beyond Veggie is emphasizing on fresh ingredients used and the Go green tagline. It
means that they are complying with the CSR. This can be the focal point to advertise more and
entice new customers as people show immense support towards businesses who comply with
CSR.

PRODUCT

A product is an item that is built or produced to satisfy the needs of a certain group of people..
Beyond Veggie aims to bring a modern vegetarian dining experience to Malaysians. The menu
carries influences from both Asian and Western and the selections are easy favourites such as
fried rice, pastas, sandwiches and pizzas. For large groups and families, the Village Kitchen
menu would be ideal.
Beyond Veggie should understand why people eat from them, customers buy a product or
service for a reason. Being a customer I would prefer eating Arabic food or dishes which has an
Indo-Pak spice touch. What Beyond Veggie should emphasize on is introduction of new dishes
which should attract vegetarian from different ethnic groups.

Beyond Veggie should use customer feedback to improve their existing products and services.
Their customers are telling them what they want in terms of taste, variety and quality, so they
should listen to them to find out how they can make improvements or additions to their offerings
to ensure Beyond Veggie is solving a problem for them.

Setting up a website of their own is a key to success. Website contains useful information
regarding their variety and quantity of products with pictures, locations and contacting details
which would help Beyond Veggie to refrain their existing customers and attract new customers.

PRICE

The customer’s perception of value is an important determinant of the price charged. Customers
draw their own mental picture of what a product is worth. By pricing effectively you will also
avoid the serious financial consequences that can occur if you price too low (not enough profit)
or too high (not enough sales). There are different pricing strategies which can be implemented
by Beyond Veggie to attract new customers.

Product line pricing is used when a primary product is offered with different features or benefits,
essentially creating multiple different products or services. Rather than looking at each product
separately and setting its price, product-line pricing strategies aim to maximize the sales of
different products by creating more complementary, rather than competitive, products. For
instance, a simple vanilla ice-cream costs less than the ice -cream enriched with dry fruits

Psychological pricing uses the customer's emotional response to encourage sales. Psychological
pricing is the practice of setting prices slightly lower than rounded numbers, in the belief that
customers do not round up these prices, and so will treat them as lower prices than they really
are. For example Beyond Veggie may sell its bento for $14.99 instead of $15, even though the
difference it has is worth of 1 Sen, but customers would be more comfortable to see the prices
under $15.
Beyond Veggie should feature a "good, better, best" pricing strategy where three styles of the
same dish are offered on the menu. The good (cheapest) item might be just a veggie burger. The
better (mid-priced) item could be a veggie burger with fries and a salad. The best (most
expensive) item could be the veggie burger with fries, a salad and dessert. Most people will buy
the mid-priced option. Without the more expensive option, though, restaurants are missing out on
money that a customer might have spent, because that customer always favours the best option.

PROMOTION

The promotion includes all of the marketing techniques you use to sell your product. This can
include coupons, specials, contests, public relations, merchandising, advertising, personal selling
and word of mouth. Service marketing, which is always an essential aspect of food service,
traditionally looks at three more P’s: people, process and physical evidence. Beyond Veggie has
emphasized on promotional pricing method to promote their products and use of slogans such as
“go green”, “all pure natural fresh” has helped its promotional strategies significantly.

Social media websites such as Facebook and Google+ offer companies a way to promote
products and services in a more relaxed environment. This is direct marketing at its best. Social
networks connect with a world of potential customers that can view Beyond Veggie from a
different perspective. For most restaurants, local is the name of the game. Most folks are looking
for good eats close to home, and Beyond Veggie would get the most value out of their online
marketing efforts by investing primarily in geo-targeted ads. Geo-targeting ads help Beyond
Veggie save money, ensuring that only users in certain cities or within a specific radius see your
ads. Having a strong Instagram presence is another semi-obvious restaurant marketing tip. Show
off their storefront, get up close with their top dishes, and use this social media main stage as a
place to play around with your brand identity.

Contests are a frequently used promotional strategy. Many contests don't even require a
purchase. The idea is to promote Beyond Veggie’s brand and put their logo and name in front of
the public rather than make money through a hard-sell campaign. People like to win prizes.
Sponsoring contests can bring attention to Beyond Veggies product without their overtness.
Providing coupons and discounts for their restaurant is always a sure-fire way to bring customers
running. Offer a free dish to their new email newsletter subscribers.
Some famous sportsmen also could be used to influence that part of the target audience who are
more concerned about the amount of a nutrition value found in the Veggie Burger. Advertising
should be placed on a seasonal basis during the festive seasons and weekdays, when most people
spend time in front of the television. Slogans and taglines will be introduced to complete the
message.

PLACE

Place is another important “P” of marketing strategy because without numerous outlets across
country it would be difficult to capture enough customers. Therefore Beyond Veggie entered
Malaysia with few outlets nationwide, and nowadays expended it to 18. All of them are located
in the biggest shopping malls due to the trend of all Malaysian loves to shops in malls, allowing
them to enjoy shopping together with delicious food without going to another place.

Place refers to not only the location of your restaurant, but to the characteristics
and demographics of the trading area and all of the people and competition that exist inside of it.
Place should be constantly evaluated with an environmental analysis. For instance, McDonald’s
outlets are very evenly spread throughout the cities making them very accessible. Drive in and
drive through options make McDonald’s products further convenient to the consumers.

If their area does not get enough traffic, it could be hard to attract new customers. To combat the
issue, they could try handing out fliers or posting on community bulletin boards. Their sign
should be large and easy to read. If a potential patron impulsively decides to try out Beyond
Veggie, but they cannot find a parking place, they may just move on. One way to fight a bad
parking situation would be to contract with a local lot and offer free valet parking.

RECOMMENDATION
Beyond Veggie should Keep track of national or global food trends. In the past decade there has
been an increased interest in food containing antioxidants, like dark chocolate, red wine, acai
berries and pomegranate. Perhaps yogurt is in style, or maybe young people are looking for
unique martini flavours. Beyond Veggie should look for these trends and incorporate them into
their menu. For example, they could serve a salad with a yogurt sauce, or create a cake with a
sweet pomegranate glaze. The pricing of the product has to be at the upper levels of the spectrum
and it should be based on the unique value proposition to the customers. Advertising through
television and billboards should be the main method of promotion. A brand ambassador can be
considered for promoting the organisation. Innovative products should be developed based on
the social and cultural attributes of the developing nations. Falafel Shawarma (Arabic vegetable
role) can be offered to the customers as a differentiated product. I would strongly recommend
them to take special specific orders in the near future from their valuable and loyal customer so
that their uniqueness could enhance more.

CONCLUSION

The report is divided into two sections were the first section evaluated the present marketing
strategy and the second section developed a strategic approach for improvement of current
business situation. It was seen from the analysis of the present marketing strategy that the unique
value proposition to the customers is the healthy diet and nutritious food with an element of
quick service. However within Malaysia such health consciousness and the concept of meat-less
food chains have not caught up. Hence Beyond Veggie can differentiate itself from the quick
service restaurants by providing healthy vegetarian meat-less food.