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. The restaurant focuses on
advertising through running magazine ads,social networks, redesigning menus with prices that
are suitable for all types of customers, attracting attention from them.To achieve this goal,
restaurants must implement an active marketing plan in which the company will spend around $
20,000 dollars on this plan.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 for the twelve months ended 31/12/ 2020.

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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

Demographic:

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 the fine
dining restaurant due to premium prices which accounts for nearly 10000 people who are the
target customers for Vue De Monde restaurant. This comprises of the families with children and
the individuals who have high incomes (2020). Approximately 50% of the people in the target
market of 10000 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.

Geographics:

Vue De Monde is located in the heart of Melbourne, it is located at Rialto Towers, 525 Collins
St, Melbourne VIC 3000. Located 55 floors up, on what was the observation deck of the Rialto,
the restaurant’s third home boasts a formidable 360 degree view of the town, spanning from the
Docklands to the Dandenongs.

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.

Physiographic:

Vue De Monde provides French meals and wines, which ranges in size between 14 and 17
courses. The menu changes daily included sea urchin; cured South Australian kangaroo r;

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barbequed baby corn; and marron tail curry with a bisque made from native lemongrass, wild
garlic, marron heads, barramundi bones and Tasmanian mussels ( Vue De Monde). Customers
usually take about 30-40 minutes to eat in restaurants and it will cost them $620 for 2 persons.

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 ads magazine 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.

In the future, this plan is 6 months long plan, and the caculation above can be applied only for
the first month, and if customers coming back in the following months after that it will increase
the percentage of customer come and eat.

In the first month, 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 will give an addition $
14,880 for the profit.

And if in the second month and third month, customers know more about the restaurant and old
customers come back, we also can get 7% more from take-out customers through ordering
websites and eat inside restaurants. If we have 84 guests and the average price per person is
$310. sales will increase by $ 26,040, therefore the profit will be double than the first month.
After Vue De Monde makes a steady profit, they can start by spending more money on
advertising and restaurant improvements.

With this plan, I can say that 50% of the 1200 passersby will know about Vue De Monde
restaurant, 20% of them will come to eat means only 240 people.

Expectation of the promotion, i mean 10% of the total 1200 people, which mean only 120 people
want to eat in the restaurant.

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

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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.

 Magazine advertising

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. Magazine
advertising are not only likely to be viewed more than once but are also more memorable.

With advertising magazine we will choose Delicious Magazine:

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 Marketing Budget

The restaurant will spend more on the promotion of the restaurant to increase more footfalls.
They will invest around $20,000 for marketing and advertising.

Here is the expected price list:

 Install wifi : $1500

 Menu: Design: $3000 Photography $2000 Production: $2000

With advertising magazine :

We will do with the size is : 2/3 page ( 175mm(w) x 154mm(h)) + 4/9 page (115mm(w) x
154mm(h)) (x4) which mean $7200, Photography $0 – they have plenty of suitable photos,
Production $1000. 

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(https://www.newscorpaustralia.com/wp-content/uploads/2018/02/Delicious-2019-MediaKit.pdf)

Conclusion

In conclusion, for this promotional plan for Vue De Monde we recommend that they continue to
target Melbourne residents, young people aged 24-39 and including families with children, 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 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 proposed ideas.

Special thanks to the IBIS World Industry Report H451la Restaurants in Australia, Australian
Bureau of Statistics and Population and age structure | City of Melbourne for the relevant
information used in this plan.

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