ACCRA BUSINESS SCHOOL

STRATEGIC MARKETING MANAGEMENT

STUDENT NAME: BENNETT ATUOBI AMOAFO

STUDENT NUMBER: ABS0422071

COURSE CODE: MBA 558

WORD COUNT: 2495

Table of Content

Table of Content.........................................................................................................................2

Executive Summary...................................................................................................................5

1.0 Situation Analysis................................................................................................................6

1.1 Internal Analysis..............................................................................................................6

1.1.1 Organisational Audit.................................................................................................6

1.1.2 Resource Audit..........................................................................................................6

1.1.3 Marketing Audit........................................................................................................7

1.2 External Environmental Analysis....................................................................................7

1.2.1 Market Analysis........................................................................................................7

Table: Market Analysis......................................................................................................8

1.2.2 Competitor Analysis..................................................................................................8

1.2.3 Customer Analysis....................................................................................................9

1.3 SWOT Analysis...............................................................................................................9

1.3.1 Strengths..................................................................................................................10

1.3.2 Weaknesses.............................................................................................................10

1.3.3 Opportunities...........................................................................................................11

1.3.4 Threats.....................................................................................................................11

2.0 Marketing Objectives.........................................................................................................12

3.0 Marketing Strategy.............................................................................................................12

4.0 Marketing Tactics/Action Programmes.............................................................................13

5.0 Implementation Plan..........................................................................................................13

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6.0 Marketing Budget & Financial Projections........................................................................14

6.1 Sales Strategy & Forecast..............................................................................................14

Table: Sales Forecast............................................................................................................14

6.2 Revenue Forecast – Income Statement for One Year....................................................15

6.3 Balance Sheet Forecast for One Year............................................................................16

7.0 Monitoring, Evaluation and Control..................................................................................16

References................................................................................................................................18

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Task:

You have just been appointed the Brands Manager for an SME based in Ghana. (Please select

an existing SME of your choice). Making reasonable assumptions develop a year Marketing

Plan which will help the SME to be competitive and gain market share

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Executive Summary

Jarvid Ray Consult is a premier provider of a digital software platform specific to the

restaurant and hospitality industry that allows for the electronic submission of documents, a

digital document storage and filing system and electronic processing and interfacing with

accounting software programs. It also provides users with the ability to search for restaurants

and hospitality venues, write reviews, comments, post and search for employment, while

administering a platform for online advertising.

Jarvid Ray Consult wants to use Raycon a digital data processing platform, to build a search

engine with appropriate online advertising. No. 12 Cashew Road, Okpoi Gonno of the

Spintex Road, Accra is the company's address. Jarvid Ray Consult provides an online search

engine for the restaurant and hospitality industry and Raycon provides digital processes for

restaurant owners.

The following are Jarvid Ray Consult's goals:

• To build a sizable online data management user base in the restaurant and hotel

industries.

• To obtain a 2% market share of Ghana's more than 10,000 eateries.

• To extend operations in the West African region, particularly Nigeria, Togo, Benin,

Liberia, and Sierra Leone, to include restaurants and the hospitality business.

• To obtain a significant portion of the $1.1 billion spent on online social network

advertising.

Jarvid Ray Consult’s mission is to become the premier provider of digital data management

solutions and targeted online ad space to the restaurant and hospitality industry facilitating

the industry's shift into certified green status

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1.0 Situation Analysis

1.1 Internal Analysis

1.1.1 Organisational Audit

An astute, experienced, and professional with an eye for detail and perfection is in charge of

the management team of the organisation. Since he has worked in the sector for a

considerable amount of time, he is familiar with its intricacies and nuances. He is backed by

extremely dependable and powerful partners, each of them is an experienced professional and

an authority in their respective fields.

In addition to its capable staff, Jarvid Ray Consult works closely with a number of other

companies and organisations in the sector in which it operates. These partners bring both

good will and substantial knowledge to the table, which will assist Jarvid Ray Consult in

accomplishing its vision and objective within the industry. In addition, Jarvid Ray Consult

provides its services with the most cutting-edge software in the business sector.

1.1.2 Resource Audit

Resource auditing is a tool used for doing internal strategic analysis that may be used to

determine the current state of an organization's resources and talents. It is helpful in

determining the areas in which the organisation needs to grow as well as the strengths it

already possesses at the present time. These resources can be separated into two distinct

groups: those that are tangible, also known as hard resources, and those that are intangible,

also known as soft resources. Examples of tangible resources include physical assets,

financial assets, and human resources. In contrast, examples of intangible competencies

include intellectual capital and brand equity (Analyst Zone).

After conducting a resource assessment, it was determined that there are sufficient resources

for Jarvid Ray Consult to function as an information technology company. The company has

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devised a plan to build on its existing goodwill and efficiency in order to acquire additional

businesses and, as a result, new resources in order to enable it to develop.

1.1.3 Marketing Audit

The marketing audit, abbreviated as "MA," is a method for determining the efficiency and

effectiveness of marketing operations. This is accomplished by determining the efficiency

and effectiveness of the "process" and all actions that are involved in the execution of a

marketing plan. Because of this diagnosis, the management board is able to supply

information that will help improve the area's performance (Morgan, Clark and Gooner, 2002).

An analysis of Jarvis Ray Consult's marketing practises revealed that the company possesses

a powerful marketing team that can steer the company toward its goal of becoming the most

successful provider of support services to the restaurant and hospitality industries. In addition

to this, it was discovered that the marketing team uses its resources wisely and that there is

very little resource waste. The departments of marketing and sales have been given sufficient

policies, plans, and codes of conduct and ethics so that their actions inside the department

may be monitored. In addition, the corporation has a robust compensation scheme that it uses

to recognise and reward outstanding work performance among its employees in the

department..

1.2 External Environmental Analysis

1.2.1 Market Analysis

According to John Gantz, Chief Research Officer at IDC International Data Corporation

(IDC), the premier global provider of market intelligence, "Internet advertising is growing at

a phenomenal rate when compared to more mature forms of advertising." In 2008, $1.175

billion was spent on online social network advertising on sites such as Facebook and My

Space.

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Jarvid Ray Consult's target market is Ghana's 10,000+ restaurants, where the firm expects to

grab a 2% market share and grow at a rate of 4% quarterly resulting in revenues of 1,000,000

cedis by the end of the year with a profit margin of 63.5 percent.

Jarvid Ray Consult’s initial target market is the over 10,000 restaurants in Ghana that would

benefit from the ability to increase restaurant visibility, environmental responsibility and the

efficiency of digital processes, electronic storage and the recruitment abilities.

Table: Market Analysis

Market

Analysis

Q1 Q2 Q3 Q4

Potential Growth CAGR

Customers

Restaurants in 4% 10,000 10,400 10.816 11,249 4.00%

Ghana

0% 0 0 0 0 0.00%

0% 0 0 0 0 0.00%

Total 4.00% 10.000 10.400 10.816 11,249 4.00%

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1.2.2 Competitor Analysis

Optimum Solutions is the only well-funded competition focused on restaurants, and its

format is complicated, cluttered, and unappealing. Rics Consult and Empire IT Ltd are other

well-funded competitors, but their sites are unfocused, encompassing a wide range of

enterprises, and lack a user-friendly format, appearing complicated, crowded, and

unappealing.

All of the above rivals allow users to rate companies, but they ignore the demands of the

customers, which are the restaurants themselves, and divert users away from restaurant ads in

order to increase clicks and revenue.

Jarvid Ray Consult has a strong network of web developers and designers who are dedicated

to accomplishing their target of a 2% market share. The platform provides an organised,

engaging, and user pleasant engine for restaurant fans, in addition to providing an efficient,

highly visible, and environmentally sound solution for restaurant owners. The existence of

something for everyone gives Jarvid Ray Consult a competitive edge.

1.2.3 Customer Analysis

When conducting customer analysis, the auditor is required to focus the majority of his or her

attention on the following areas: consumer profile, customer satisfaction monitoring, and the

customer's value to the company. (Radulescu 2012)

Our company's objective is to concentrate on acquiring customers that have a proven track

record of financial responsibility and have been in operation for at least five years. Because

these customers have access to funding from their lenders, they are able to make use of the

services that we provide. Jarvid Ray Consult will expand into new areas so that it may grow

its business and increase its revenue to its full potential. The prices of the services shall be

competitive.

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1.3 SWOT Analysis

The SWOT analysis aids in displaying the internal strengths and weaknesses that Jarvis Ray

Consult must address. It allows us to examine the opportunities presented to the Company as

well as potential threats. The Company's strength will help it to succeed. Strengths are

valuable, but it is also important to realize the weaknesses the Company must address. The

Company's strengths will help it capitalize on emerging opportunities. SWOT Analysis is a

strategic planning method that assesses the strengths, weaknesses, opportunities, and threats

that a business faces. It gives the company information that helps it align its resources and

competencies with the competitive environment in which it operates. (Gurel 2017).

1.3.1 Strengths

Jarvid Ray Consult’s strengths lie in its ability to:

 Automate and digitize traditional paper processes and data storage eliminating the

need for the excessive printed copies of documents thereby promoting a greener

method of document preservation.

 Create a restaurant platform for the public that is simple, easy to use and understand

in their search for restaurant data, descriptions and evaluations. 

 Create an online restaurant platform that digitizes the daily operational functions of

restaurants increasing efficiency and the protection and ease of data storage.

 Provide a method for the public to view, evaluate and interact with the restaurant

industry increasing their knowledge of available choices, ability to search and

apply for employment and voice opinions about their experiences.

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  Equip restaurants to provide immediate response to their patrons electronically

extending their public reach, visibility and increasing their ability to react positively

to situations to maintain positive ratings.

 Furnish the restaurant industry with the ability to update and interact with their

patrons, and the public regarding daily specials, and new developments and

discounts with ease on a daily basis.

 Provide the restaurant industry with a method to simplify mandatory daily

transactions that save time and money increasing profits and efficiency and the ability

for a restaurant to focus on food and customer service.

1.3.2 Weaknesses

 Our challenge is in establishing the website as a recognized force in online restaurant

marketing and restaurant focused social networking.

1.3.3 Opportunities

Jarvid Ray Consult is afforded the following opportunities:

 Solid restaurant industry knowledge, experience and alliances with key players in the

restaurant industry

 An established affiliation with Axacore, a leading provider of document and fax

imaging solutions, and Editor's Choice of Network Computing Magazine, with

thousands of installations and large scale implementations processing millions of

documents and providing service to thousands of users worldwide.

 A collaboration with Solfira visual design and development agency with expert

knowledge in restaurant operations and management, winner of the International

Summit awards Gold in Web Site Concept and Brand Design

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1.3.4 Threats

 The threat facing the success of Jarvid Ray Consult is the country's current

economical climate

 The company may face external threats from political, economic and environmental

effects.

 Loss of key staff may pose a threat to Jarvid Ray Consult

2.0 Marketing Objectives

The following are Jarvid Ray Consult's marketing objectives:

 To build a sizable online data management user base in the restaurant and hotel

industries.

 To obtain a 2% market share of Ghana's more than 10,000 eateries.

 To extend operations in the West African region, particularly Nigeria, Togo, Benin,

Liberia, and Sierra Leone, to include restaurants and the hospitality business.

 To obtain a significant portion of the $1.1 billion spent on online social network

advertising.

Jarvid Ray Consult’s mission is to become the premier provider of digital data management

solutions and targeted online ad space to the restaurant and hospitality industry facilitating

the industry's shift into certified green status.

3.0 Marketing Strategy

Jarvid Rays Consult will market using traditional, more mature forms of advertising as well

as an aggressive web based campaign geared toward its target market of 10,000 restaurants

within Ghana.

Jarvid Ray Consult's core sales and marketing strategy comprises of the following:

 To offer the restaurant business an unrivalled internet search engine

 To build a loyal consumer base based on high levels of customer satisfaction.

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  To give restaurant owners with the greatest quality digital data management, storage,

processing, and archiving services at a competitive price while also expanding their

visibility to the general public.

 To create and keep up a comprehensive tracking system for advertising purposes.

Jarvid Ray Consult has clearly identified its target market and set itself apart by

providing a reliable solution to meet the needs of its restaurant customers. Reasonable

sales targets have been set, with an implementation plan in place to ensure that the

objectives are met.

The restaurant industry is hospitality based and critically dependent upon public visibility and

reviews. Jarvid Ray Consult provides an organized, focused, user-friendly method of

searching for and providing reviews of restaurants coupled with the ability to monitor

customer experience and consistently providing useful user information and advertising

relevant to the user

4.0 Marketing Tactics/Action Programmes

Jarvid Ray Consult’s entire concept is Web based providing a digital medium for the

restaurant industry and the general public to locate and interface with one another with ease

and within the comforts of home or an office environment and even on the go. Jarvid Ray

Consult will continue the design and development utilizing all designated resources, skills

and expertise in order to offer a premier level of customer satisfaction to the targeted market

Jarvid Ray Consult will seek to obtain specific and relevant advertising revenue beneficial to

our restaurant clientele and the public presented in an organized focused fashion, maximizing

the visibility of our clients and promoting related content. Development of both the front and

back end of the website have been established by the engineers and design development team

of Jarvid Ray Consult and will continue in development a until maximum level of

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performance and aesthetics is achieved. The site will be maintained in house by our

experienced team of network engineers

5.0 Implementation Plan

Personal selling, often known as face-to-face selling, is a method of achieving set goals and

objectives. We'll also take advantage of social media to promote our products. Some of the

tactics that will be used are listed below, but they are by no means exhaustive.

 Creating networks with future customers through face-to-face interactions.

 Providing cost-effective and competitive pricing.

 Provide long-lasting, high-quality services.

 Keep in touch with customers all of the time

 When and where it is needed, provide effective promotion.

6.0 Marketing Budget & Financial Projections

The company projects to make steady sales in its operations. It is anticipated that they will be

able to meet their targets and thereby make reasonable profits in its operations. Below are

forecasts of its operations.

6.1 Sales Strategy & Forecast

Jarvid Ray Consult delivers an affordable search an evaluation engine to restaurants,

increasing public visibility and optimizing efficiency and environmental responsibility.

Projected sales are divided into two components:

a. Advertising Revenue and

b. Raycon product

Table: Sales Forecast

JARVID RAY CONSULT

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Sales Q1 Q2 Q3 Q4
Google Ads $2,337,336 $3,403,156 $5,448,562 $8,723,323
Banner Advertisements $1,217,876 $1,773,223 $2,838,988 $4,545,311

Green Document Delivery Platform $23,135 $29,289 $39,390 $52,976

Total Sales $3,578,347 $5,205,668 $8,326,940 $13,321,610

Direct Cost of Sales

Google Ads $701,201 $1,020,947 $1,634,569 $2,616,997
Banner Advertisements $365,363 $531,967 $851,696 $1,363,593

Green Document Delivery Platform $4,627 $5,858 $7,878 $10,595

Subtotal Direct Cost of Sales $1,071,191 $1,558,772 $2,494,143 $3,991,185

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6.4 Revenue Forecast – Income Statement for One Year

Pro Forma Profit and Loss

Q1 Q2 Q3 Q4
Sales $3,578,347 $5,205,668 $8,326,940 $13,321,610
Direct Cost of Sales $1,071,191 $1,558,772 $2,494,143 $3,991,185
Other Costs of Sales $0 $0 $0 $0
Total Cost of Sales $1,071,191 $1,558,772 $2,494,143 $3,991,185

Gross Margin $2,507,156 $3,646,897 $5,832,797 $9,330,425

Gross Margin % 70.06% 70.06% 70.05% 70.04%
Expenses
Payroll $435,192 $448,248 $461,695 $475,546
Technical Infrastructure $30,000 $30,900 $31,827 $32,782
Depreciation $10,857 $11,183 $11,518 $11,864
Rent/Utilities $42,000 $43,260 $44,558 $45,895
Leased Equipment $6,000 $6,180 $6,365 $6,556
Insurance $6,000 $6,180 $6,365 $6,556
Other Expenses $12,000 $12,360 $12,731 $13,113
Payroll Taxes $65,279 $67,237 $69,254 $71,332
Accounting $6,000 $6,180 $6,365 $6,556

Total Operating Expenses $613,328 $631,728 $650,680 $670,200

Profit Before Interest and Taxes $1,893,828 $3,015,169 $5,182,117 $8,660,225

EBITDA $1,904,686 $3,026,352 $5,193,636 $8,672,088
Interest Expense $0 $0 $0 $0
Taxes Incurred $473,457 $753,792 $1,295,529 $2,165,056

Net Profit $1,420,371 $2,261,377 $3,886,588 $6,495,168

Net Profit/Sales 39.69% 43.44% 46.67% 48.76%

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6.5 Balance Sheet Forecast for One Year

Pro Forma Balance Sheet

Q1 Q2 Q3 Q4
Assets

Current Assets
Cash $1,876,633 $4,199,405 $8,219,342 $14,921,325
Other Current Assets $0 $0 $0 $0
Total Current Assets $1,876,633 $4,199,405 $8,219,342 $14,921,325

Long-term Assets
Long-term Assets $60,000 $60,000 $60,000 $60,000
Accumulated Depreciation $10,857 $22,040 $33,558 $45,422
Total Long-term Assets $49,143 $37,960 $26,442 $14,578
Total Assets $1,925,776 $4,237,365 $8,245,784 $14,935,903

Liabilities and Capital Q1 Q2 Q3 Q4

Current Liabilities
Accounts Payable $154,023 $204,235 $326,066 $521,016
Current Borrowing $0 $0 $0 $0
Other Current Liabilities $0 $0 $0 $0
Subtotal Current Liabilities $154,023 $204,235 $326,066 $521,016

Long-term Liabilities $0 $0 $0 $0
Total Liabilities $154,023 $204,235 $326,066 $521,016

Paid-in Capital $640,000 $640,000 $640,000 $640,000

Retained Earnings ($288,618) $1,131,753 $3,393,130 $7,279,718
Earnings $1,420,371 $2,261,377 $3,886,588 $6,495,168
Total Capital $1,771,753 $4,033,130 $7,919,718 $14,414,886

Total Liabilities and Capital $1,925,776 $4,237,365 $8,245,784 $14,935,903

Net Worth $1,771,753 $4,033,130 $7,919,718 $14,414,886

7.0 Monitoring, Evaluation and Control

Jarvid Ray Consult’s progress toward its goals will be monitored via monthly reports on the

company's activities, as well as a variety of software applications that will be built

specifically for the purpose of analysing those data. This will help the company reach

efficiency and effectiveness, and it will assist the organisation seal all of the loopholes and

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leakages that are currently present. The department of internal control and audit will be given

the authority to conduct periodic audits of the company's various departments, with the goal

of assisting in the detection of fraud and the parties associated with it, as well as putting a

stop to the fraudulent activity as soon as it is discovered.

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