Marketing Plan- Assessment one


EXECUTIVE SUMMARY In this study a detailed description on marketing methodology is given in terms of Indian restaurant where all possibilities of analysis are involved and proces s of handling mutual cultural exchange is portrayed in understandable format. Few figure are produced in order to show or strengthen the 4p’s conc ept, price evaluation is done with respect to the current scenario of GST, marke t value and product demand. The product relationship with customers and certain comparison are m ade, with further discussion on various business prospects in future. INTRODUCTION: Indian cuisine is characterized by the use of various spices, herbs and other vegetables, and sometimes fruits grown in India and also for the wide spread practice of vegetarianism in Indian society. Each family of Indian cuisin e includes a wide assortment of dishes and cooking techniques. As a consequence, it varies from region to region, reflecting the varied demographics of the ethn ically-diverse Indian subcontinent. One among them is South India with varied food culture and traditions from rest of India, which is not introduced in New Zealand at its best hence we here take an effort towards it. Marketing Mix Product Analysis: Every country is interested in discovering other culture, food and life style this particular try will fulfills all the above aspect. Price: Pricing is done with respect to the following factors • Transportation • Employee wages • Raw material value

• Other external and internal need of the hotel Example: Sambar: A typical south Indian recipe made of Dhal, chilli, turmeric the c ost evaluation as follows Raw Material price: NZ $60 (serves 120) Electricity and other expenses: NZ $ 100(include transportation) Wages: NZ $ 300(monthly wage for one particular dish- approx) My price assigned to the product: NZ $ 3.50 (Includes GST) if served with ri ce more effective price can be implied hence customer attain a reasonable price with side dish ($5.00 for veg and $7.00 for non veg). Place/Distribution: Where there is mixture of Asian and kiwi population, people who bel ong to middle class in terms of economy. Promotion: Combo offers, sales of Books in hotel that illustrates places in India to visit, Different traditions in India, hints and tips on palmistry, astrology and other spiritual aspects in form of pamphlets or along with Menu cards, awarenes s about the food or the health factor about food they are served.

Marketing Objectives for the project: Overall objective: Serve healthy, quality food and stand unique in variety and price. Primary Objective: Make people aware about typical India’s food menu, culture and traditio ns and attain mutual satisfaction in terms of revenue. SWOT: Strength: Only Indian hotel which serves the typical Indian food with a traditional tou ch that’s different from the Indian hotels in New Zealand. Weakness: All the food can’t be made in same procedure reasons are as follows 1. Indian food style are much spicy than kiwi food menus hence they are alt ered whereas the sweet menus will be increased 2. Since it’s going to be different from other hotel in the way it’s presented the cost on food also slightly may vary from other hotels. 3. Need to be very competitive in terms of pricing when compared to Chinese takeaways. Opportunities: 1. There are more states in India with various traditions and customs which can be launched in NZ. 2. Supporting people to visit INDIA by which we can enlarge our business by introducing tourism to INDIA. 3. More sale of books provoke more business in future and gives confidence in bring other countries well known authors books on shelf. Threats: 1. Need to overcome the competitors well established in this food chain ind ustry. 2. Need to import goods from India hence economical and political factors i nvolved 3. Requires labors from India since this is to be made by specialist who ar e well known in India lot of paper work and initial investment for visa required apart from goods and utensils. 4. Requires an upgrade in products on daily or weekly basis to attract cust omers. Value Chain Analysis: As per the business requirements the following are needed

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Transportation – goods delivery and home delivery Wages to employees Custom clearance agent fees Pay back to exporter for goods exported. Modification in hotel for customer attraction when needed. Pamphlets charges for distributing food menu. Electricity, water and fuel usage charges. Food wastage value Taxes whichever applicable ex: import duty, GST, income tax and other business r taxes.

EXTERNAL ENVIRONMENT FACTORS: Social: • This business is relied both on Kiwi and Indian groups and planned in such a man ner for a mutual cultural exchange. • Less possibility of racism unlike Australia but still one of the major factor si nce the population of Indians in NZ is increasing every year. Economic: Dependent on two economy India and New Zealand after recession both count ries are performing better hence importing from India will support new Zealand e conomy and also support India as foreign investment but India Pakistan cold war and Pakistan china relation and support from other gulf countries might lead to a severe economical fall in economy of developing countries (India, china, Pakis tan…..) in future. Demographic: It’s always advisable to launch in city where visitors are more often visit, but apart from that there are few economical reasons hence following is a details study on people in various part of Auckland. Cultural: This will attract people from India and most of Asian population because it’s designed and projected in a manner where a Indians feel being in hometown The way hotel arranged will provoke interest among other cultured people cu riosity among Indian foods and life style, hence it’s a common place for people to know India in a new dimension. Ethnic: People who belong or speak following languages: Tamil, Hindi, English. Natural: History of Natural Calamity is low in southern part of India , flood migh t result in increase in price of raw material but due to currency value it remai ns affordable. Goods are planned to import in regular interval in order to avoid food was tage hence natural calamity such as earth quake in NZ might affect the business but won’t result in loss. Political: Since India and New Zealand have signed a Free Trade Agreement (FTA) hence the goods imported are not subject to taxes, laid by NZ government and trading c an be done at reasonable price, but future depends on two countries political is sues change in Law or rrestrictions on food and beverage products might panic th e business. Legal: To start a business as per NZ government, the following are required • Food premises grading • Business Taxes Payroll taxes for employees Property tax for equipments and inventory

State income tax Business license fees Rise in GST – Might result delay in attaining growth rate Regulatory: Change in law regarding food and safety factors might lead to further in vestment on the business hence affect the profit margin. Technological: This business is not much focused on technological factors unlike few as follows • Introduction of new products • New cooking utensils which makes cooking faster and easier. • Need EFTPOS and credit card swipe machines which are often used in NZ. Resources: This business relies on resources from India hence it’s subject to fol lowing • Availability of goods in India • Change in goods value which might affect pricing product hence instable food pri ce or compromise in profit. • Climate change in India will lead to high demand for products hence high price. Marketing Strategies Main strategies • Getting people know mouth watering dishes which are not in NZ yet by digital pri nted screen. • Using certain food flavored room spray which gives pleasant feeling to people ne arby hotel. • A meal in an Indian restaurant is priced for 12-22 dollars which makes it’s unaffo rdable, break that barrier and serve the dishes to an affordable price such as 7 -10 dollars. • Issuing pamphlets in main cities and colleges. • Focusing on cook’s experience and Indian food cooking methodology. • With respect to stock available special offers on food price like a one day deal . • Introductory offer such as free delivery, a additional sweet or a dish for a min imum purchase. Product Life Cycle • As per this business concerned it takes at least two to three months to reach de veloping stage and then developing depends on the new items displayed in menus, physical environment and customer service. • It might look as short period to reach a developing stage but time scheduled acc ording to demand and as per our pricing. • After a year or two we have a probability of reaching saturation point due to co mpetition. • As I explained in second point decline point depends on decline in customer serv ice, quality and price variation. Target Market • People aged above 17, who are affordable to spent(earning people). Demand Only Indian restaurant with south Indian food menu hence creates demand in NZ. New different food which NZ haven’t discovered yet. Imported goods hence fulfill the customer’s taste buds need. Market Penetration • This restaurant enters with titled same as Indian restaurant like other restaura nts in NZ, but it also really mean it unlike other restaurants. • To prove above statement different menu are displayed initially with special com bo offer to attract people attention. • As I said described earlier, low or affordable price which is compared with othe r restaurants. • • •

Market • • • • • • • en.

Development Free home delivery for some bulk orders. Combo offers on food menu Nutritional value on food served Special food menu for diabetic patients. Get some doctor approval on certain combo food as per nutrition facts. Special offers on special days and information about the festival. Spices shop where people can get spices from India, also reduce our wastage burd

Product development • New other countries foods like Mexican, Spanish and Italian as per the populatio n in NZ. • Foods from other parts of India with different food menu • New products in combo or specials with products which has good sales figure amon g people. Diversification • As said in market development spice shop might help in selling those imported go ods to be sold before they expire hence can avoid loss. • New franchisee from investment of people in NZ, hence balance in loss and profit . • If trading goods was comfortable import other goods like electronics, steel etc for safe securing the money saturation (rely entirely on food industry). Sales Forecasts • The sales forecasts are kept low or just above reasonable or achievable conditio n in order to avoid disappointment. • Predicted sales forecast will be on number of customer and their satisfaction. • Sales forecast is also calculated with respect to the following category 1. Employee wages 2. Goods value which includes GST 3. Maintenance and other miscellaneous charges applicable. Competition Comparative Analysis • This product will stand as first Indian cuisine with typical south Indian dishes • The analysis is done within our self every six months in order discover our prof it, loss and customer satisfaction attained. • Analyze the pricing with other Chinese takeaway and kebab restaurant and look fo rward towards variety and affordability. Competitive analysis • Survey once in every year where an Indian restaurant is running successfully in order to launch our hotel to increase customers. • Research on food that is served commonly in hotels or which has good figures in terms of sales. Promotional Tools Mass, Variety and differentiated Marketing • Rather doing Mass marketing via radio or television I would prefer issuing door to door pamphlets • A advertisement in social networking sites • An advertisement on bus tickets with some coupons. • Pamphlets distribution in college, main streets. • Posting advertisement in Indian community sites. Concentrated target marketing • Target marketing towards working people 22 or above who are affordable and inter ested to experiment something new. • Meet the demand of Indian people, pre research on food they miss and most wish t o have food menu. Public Relations • Gifts like kolam stickers(like sand painting) • Bringing some interesting cultural events which portrait Indian culture. • Requesting a completed Feedback form at last regarding service, quality and tast

e use it as a testimonial. • People who serve is trained given more importance on greeting customer and provi de best service. Advertisements • More focused advertisements on new dishes and best combos with price. • Few advertisements on News paper which will also be analyzed in pre research. Radio & TV • Since this is focused much on effective mass marketing I would not go for radio or tv rather as mentioned earlier will try with social networking sites. Consumer Behavior Survey Social • As Lifestyle in India is varied when compared with New Zealand hence a pre resea rch will help spotting their leisure time, outdoor activity they prefer, methodo logy of living with respect to the business or job they hold, in order to fulfil l a English and Indian expectation in terms of food menu and atmosphere. Psychological • Indian Cuisine, which creates a expectation of general North Indian food menus h ence need to break that barrier and come up with more specification of south Ind ian dish. • Comparative low price which means number of initial customers will be increased, more sales crucial period for business growth and customer service. Cultural • Though it doesn’t have a famous methodology but it does have very famous dishes li ke Dosa, Idly, Pongal……. Which are known and popular globally. Personal • Meet the demand of a customer and increase the customer number for future busine ss prospects. Local and International Market • We import goods hence there are more opportunity to explore new places in world where a Indian restaurants are needed and more probability of importing other go ods in order to avoid money saturation. Relationship Marketing • As described in Public relations to increase the customer number and turn as hot spot. Compare Consumer Behavior and Marketing Mix Consumer behavior and Marketing Mix are dependent and directly proportional. Which can be defined or term with respect to the business analysis done as follo ws In the following table Marketing mix is compared with respect to the consumer be havior or factor which might affect our product due to consumer behavior. Marketing Mix Consumer behavior Product – Indian cuisine Social, Psychological, cultural Price – Affordable Psychological, social, personal Place/Distribution Relationship Marketing, social Promotion Relationship Marketing, Psychological International Marketing Design, Symbol, colour and shape: • Design and symbol– an auspicious Indian symbol which is westernized for reach. • Colour and shape- combination of colours from Indian and New Zealand flags. Terminology and Trademarks • A Logo with our products one line description will be more helpful and vital. Design/labeling and Packaging materials • Initial packaging methodology will be focused on being cost effective but as bus iness reaches a growth period usage of bio recyclable packs or palm leaf will be used. • We probably focus on printed covers rather than printing on food supplied boxes.

Conclusion As per the New Zealand requirements a detailed study on business pro spects is done and this is identified as one of the smart way of exchanging cult ure and investing. References •, ethnic group in New Zealand. • Rules and Regulation, Hotel community NZ • Import and export, NZ immigration • Taxes, Hotel management NZ.