Introduction to Marketing

Marketing Plan

Annie Ho
S4638982

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Executive Summary

This report focuses on restaurant basics as well as on developing a new marketing strategy for
the restaurant to attract more customers.The restaurant's target market is Melbourne residents,
aged 24-39 and including families with children and single individuals. To achieve this goal,
restaurants must implement an active marketing plan in which the company will spend $ 15000
dollars which will include, $ 2000 for media promotion, instal free wifi $1500, design new menu
and magazine $ 5200, production will be $500,…. The report sheds light on new target markets
and changing customer behavior. A new marketing strategy is also proposed that will benefit the
restaurant in increasing sales. The budget is also included in the plan with the conclusions.

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Contents
Executive Summary.........................................................................................................................2
Target Market..................................................................................................................................4
Market Objectives............................................................................................................................5
Proposed Marketing Strategy..........................................................................................................5
Marketing Budget............................................................................................................................6
Conclusion.......................................................................................................................................6

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Target Market

The target market for Vue De Mode is new customers, families, individuals ( between the ages of
24 and 39), take out ( people that prefer to eat at their home) customers passing and shopping in
downtown Melbourne or customers who can pay high prices for foreign food and wine and enjoy
the serenity on the 55th floor of the Rialto Building in Melbourne, which is itself a lifelong
experience (Vue de monde - Vue de monde, 2020).

The total population of Melbourne is around 50 lakhs in which the number of the people between
the age group of 24-39 years is nearly 58000 people (Population and age structure | City of
Melbourne | Population forecast, 2020). Among these people, only 17% of people go to a fine
dining restaurant. Approximately 50% of the people are moving towards healthier food options
due to the changing eating habits of the customers for which the restaurant needs to redesign the
menu to cater to the needs of the people.

According to the Australian Bureau of Statistics, at vic 3000, there were 37,975 people, 5,804
families, 14.8% were couple families with children, 62.7% were couple families without children
and 7.2% were one parent families. The median weekly personal income for people aged 15
years and over was $ 431.

The premium prices of the services do not allow more people to come to the restaurant. The
restaurant must develop a plan and focus on attracting more customers. They must identify the
customers’ expectations and work towards fulfilling those expectations if they want to remain
sustainable and competitive.

The restaurant's expanding menus, upgrading a variety of special menus with preferential prices,
promotions can attract the attention of new customers, improve income.

Market Objectives

The market objectives of Vue De Monde restaurant are to remain competitive and to ensure
customer satisfaction, realize the goals for the restaurant to increase revenue and profitability by
attracting more consumers and increased footfall in the fine dining restaurant during the 1"
January 2020 until the 30 June 2020. From my point of view, if we do TV commercials and
weekend specials, we can get 10% more customers in the fisrt month and around 5% of them
will come back in the following months.

If every day about 1,200 people pass by the restaurant. And if we have about 10% of the 1200
people entering the restaurant and between Monday and Sunday, we have about 960 customers
in a week. And if 5% of our customer target returns to the restaurant every week we have 48
customers, if each customer spends $ 310 on a meal, it makes $ 14,880. After 6 months net profit
will be $89,280.

And we also can get 7% more from take-out customers through ordering websites. If we have 84
guests and the average price per person is $310. sales will increase by $ 26,040. After Vue De

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Monde makes a steady profit, they can start by spending more money on advertising and
restaurant improvements.

Proposed Marketing Strategy

The restaurant is focusing on attracting new customers who are the millennials and the proposed
strategy for them is to address changes in consumer behaviour and fulfill their expectations. The
message of restaurant that to present an exciting and dynamic experience with the progression of
flavors and a sense of curiosity.

They are focusing on the marketing mix and build a strategy:

 Menu

Vue De Monde’s Menu can improve this by suggesting more meals to the menu such as main
meals, combo meals, diet menu, buffet menu. By improving menus and adding a diet menu or
special offer menu for every weekend can boost the restaurant's reach and customer base. The
high prices of the services do not allow many people to visit the restaurant so the fact that the
restaurant will update the new menu at a price that is affordable for the customer can contribute
to attracting customers and increasing income.

Example for new menu:

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  Install free wifi :

Customers who enter the restaurant with a wifi enabled device when customers login via email
or social network to access free wifi, the link will take them to the main page of restaurants to
promote new menu items that help boost sales, here we will use this contact information to
market products to these customers every day, the restaurant can also email the first time
customers an autoresponder a few hours after their visit, giving them a 10% coupon to encourage
return. Or restaurant can set an email trigger that includes offers for customers who haven't
returned to restaurant in the past 30 days.

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  Run promotions

Restaurant can offer free drinks every Saturday, or provide a free dessert for customers
celebrating their birthdays, and give a small present for the kid when they come.

 Mini-game

Mini-game on media such as Facebook, Instagram, ... about activities such as lucky draw, or
customers with the best pictures at the restaurant, they can receive free meal vouchers at the
restaurant. This can enhance the promotion and interaction on the network thereby increasing the
number of more customers coming to know the restaurant.

 TV Advertising/ Luxury travel magazine advertising

Promotional videos for a 30-second on TV also advertising in the magazine, show the view of
restaurant inside-outside, location of the restaurant and menu food, wines, and promotions to
showcase content to customers. TV commercials - magazine advertising are not only likely to be
viewed more than once but are also more memorable.

 Marketing Budget

The restaurant will spend more on the promotion of the restaurant to increase more footfalls.
They will invest around $15,000 for marketing and advertising.

Here is the expected price list:

Cost
Tv advertising $2,000
Videographer/ advertisement image $500
Wifi $1500
Design new menu $ 200
professionally-designed advertisement for a $5000

magazine
Production $500

Average cost for advertising on Luxury travel magazine:

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Conclusion

In conclusion, for this promotional plan for Vue De Monde we recommend that they continue to
target families, who work close to that location, and daily commuters in the melbourne CBD.

To establish more presence than competitors position around the restaurant. We have put in place
many strategies for them to best improve their profits and customers.

The restaurant focuses on promotion through running TV ads, magazine advertising, hoarding,
enhancing social presence, redesigning menus with prices suitable for all customers, attracting
their attention. With this promotional plan, Vue De Monde's will be able to significantly increase
profits for the twelve months ended 31/12/ 2020, due to its low costs and proposed ideas.

Special thanks to the Australian Bureau of Statistics and Population and age structure | City of
Melbourne for the relevant information used in this plan.

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