Business and Marketing Strategies - Essay Example

?Summary This report presents an analysis and evaluation of various business and marketing strategies for a new health-food restaurant, Spud BAR, which is located in Adelaide. As the restaurant is involved with the health-food business, the target market is people who are in need of healthy foods, such as old and obese people. The report finds that the prospects of the company will improve if branches are opened in the following locations: Adelaide CBD, Marion shopping Centre, and North Adelaide. These are the suburbs that contain a higher proportion of prospective customers. The business and marketing plans include offering a range of tasty and healthy meals to a wide range of customers, as it is natural for customers to expect their food to be tasty. Also, another strategy is employing price discrimination strategies, i.e. providing discounts to students and old people. This will result in increased sales. Also, by providing customers with meals based upon the recommendations of qualified nutritionists, our brand name can receive greater recognition. Introduction There has been a recent increase in health-related issues because now people are concerned about their diet more than ever before. The number of diseases caused by unhealthy eating have increased due to the rise chemical additives and genetically modified foods. Therefore, the number of people choosing to opt for organic food is increasing all the time. Organic foods are produced naturally, without using chemical synthetics or fertilizers, and not processed by irradiations. This report analyses how to carry out marketing for a restaurant offering healthy meals for public consumption. Spud BAR is focused on the restaurant industry; more specifically, organic and healthy meals. Another component is delivery services to customers. These meals should be prepared using only natural foods such as vegetables, fruits, and meats. This project will look at peoples’ need for healthy food and will try to educate society about decreasing the rate of diseases caused through bad eating habits. A. The Purpose of this Project Spud Bar is a Melbourne-based health-food restaurant that is planning to open up branches in Adelaide. Our project will give recommendations as to whether this move will be a success or not. We will base our recommendations on various conditions such as economic, cultural, and demographic factors. The major purpose for this move is to increase the company’s profits while still offering good service to customers. Also, the report will provide the company with suitable business and marketing strategies to improve competitiveness and help the company become successful in the marketplace. B. Target Market 1. People who suffer from obesity The rates of obesity in Australia as a whole, and more specifically Adelaide, have risen over the last decade. The types of people who will benefit from this project are those who look to minimise the number of calories that they eat every day. This project will focus on these types of people by offering them a variety of foods that are suitable for them and can be arranged in advance. 2. Old people and patients Due to their health conditions, those who are either retired or ill are recommended to eat specific dietary meals. More specifically, these meals should have less fat in conjunction with being nutritious. It is very difficult to get this balance right, and this presents to us a target market that is relatively untapped. 3. Local universities students and employees The Adelaide Central Business District (Adelaide CBD) includes three universities (University of Adelaide, University of South Australia, and Flinders University) along with the Adelaide Royal Hospital and a large number of companies. Opening a branch in this location will help us to reach thousands of local students. 4. Preparing meals for events: The company can organise meals for events such as birthday parties, graduation ceremonies, and so on. Discounts can be given to such events, as the order will include large quantities of food. This is also a way to attract further orders for large events in the future. C. Strategic Locations to Run the Business Depending on our priority of customers, our research proves that the business should open three main branches in order to fulfil the sales target and to be close to all the customers mentioned above. These main stores should be in locations as follows: 1. City Centre location This will be the biggest store due to the number of customers in and around the location. As illustrated above, this branch expects to receive local students and workers so long as the quality of food is good and the service is excellent so the business can compete with other restaurants in the city centre. Furthermore, delivery will be free for customers whose order totals more than $30. 2. Marion Shopping Centre location Our survey showed that a large number of people prefer to visit the Marion Shopping Centre for shopping and also having one meal between 12 p.m. and 5 p.m. It is expected that this branch will be popular for families. This branch will cover the southern part of the city, while delivery will be available until late throughout the whole week. The store’s operating hours will be between 11 a.m. and 5 p.m. on weekdays and until 10 p.m. on weekends. 3. North Adelaide location This branch will cover the northern region of the city, which includes a high rate of wealthy people and newly built houses. It is expected that the majority of customers will request delivery service, as this suburb contains many retired people. D. Business Strategies The following strategies can be implemented in order to improve the business: 1. Range of meals Customers prefer to have a wide range of choices on the menu, and by providing them with a menu that many delicious and healthy meals, it will satisfy and perhaps even surpass their expectations. Thereby, our business will attract more loyal customers. 2. Price discrimination It is possible to arrange a weekly timetable for regular customer based on their wishes. As such, customers who order weekly meals will be paying less than other customers. 3. Customers’ needs Because of the growing rates of obesity cases and other health-related issues due to a substantial increase in the consumption of fast food, people are aware of the need to consume green, organic, and nutritious food. Also, most people of working age and students don’t have enough time to cook their own meals. We can satisfy their demands by offering a variety of healthy, fresh, and ready-to-go meals. E. Marketing Strategies Any company should design its business strategies in order to achieve its primary goals. Our mission statement is “our customers’ health is our main agenda.” We will focus on what needs to be done to achieve that. Initially, the company should present its meals with high quality and at competitive market prices. Then, the company can improve its products by listening to their customers’ needs. The strategies presented below will help the business to meet its objectives. 1. Nutritionists’ recommendations If customers need a diet recommended by a nutritionist, then we can offer a range of alternatives for them to choose from. This will back up our mission statement, which is “our customers’ health is our main agenda,” to everyone and will promote our brand name. 2. Designing and presenting advertisements Advertising the product is the key to increasing sales and will ultimately help the company to achieve its goal of reaching every family in Adelaide. This can be done by advertising in popular newspapers, on local television channels, and issuing brochures to people in proximity of the branch locations. 3. Online website In the current fast-paced world, the number of customers buying online has increased dramatically. There are more than two million online shoppers in Australia, and this supports our decision that our company needs a website to increases sales. Any firm needs to have its own website to present its products. 4. Free deliveries and special prices for contributories The company should appreciate its customers who buy often from their locations by providing them with discount cards and free deliveries if desired. Conclusion In conclusion, this report illustrates the recent increase of organic healthy food demand. It presents how customers desire healthy foods more than ever before. The purpose of this project is to offer special services to society that will raise profits and the company’s reputation. The company focuses on certain types of customers: those who are obese, old, or sick, local students, employees, and event planners. This marketing strategy will definitely allow the company to achieve high sales. It has been suggested that the company starts business in Adelaide with three branches: Adelaide CBD, Marion Shopping Centre, and North Adelaide. These are the most strategic locations in which to be positioned in the city. The range of meals on offer provides healthy alternatives to customers and is tailored to meet customer demand. In order to help the firm become successful, some specific marketing plans should be followed. These are taking nutritionists’ recommendations onboard, designing advertisements, and building an online website. 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