Marketing and Internal Environment Value Proposition (Editing Sample)

Ping marketing plan
Student’s name
University
Date
Executive Summary:
Ping’s garden was started in 1985 as a small restaurant in Albany. As the years continued it grew to something much more. From a mom and pop, 30-50 person capacity to a 257 person capacity. The owners Ping and Kuen built their own restaurant from the ground up. Many people who come to pings are either elderly people over 55 and families around there 30’s. Ping’s has always kind of been a family oriented restaurant with large portions that many people can share. Talking to Ping, he said, “We have seen a raise in customers over the past few years after the economy started getting better.
Situation Analysis:
Customer information will be gathered through a survey that will seek to establish customer perceptions of the services within the restaurant. This will highlight the major areas that need to be improved and how the business will adapt the strategies.
Internal Environment Value Proposition
The restaurant provides freshly prepared Chinese cuisine with large portions and a family friendly environment. This ensures that the customers are largely satisfied with the local cuisine
Mission Statement: To provide quality family style Chinese food at a reasonable price.
Company analysis
Organizational Structure
The organization structure is a matrix structure with two managers. Kuen manages the wait staff and the office. Ping manages the kitchen work and the inventory. Organizational Culture Most of the decision making goes to ping and kuen but usually take suggestions from their employees. This enables easy decision making and management of business processes within the organization.
Current Products/Services
The restaurant offers a variety of American Chinese foods ranging from seafood, noodles and meat. Apart from sit in foods, the restaurant offers take away options for clients who are not willing to eat in the restaurant.
Markets analysis
Ping’s has a big market with the 30-55 range because we have been open so long I think the customer base grew up with the restaurant. So now they take their family to Ping’s. This makes pings more of a family restaurant.
Customer Analysis
The restaurant has a stable market that is from the open daily business apart from specific holidays and two weeks in June/July. The restaurant has only one location in town that sometimes makes it difficult for customers to access it.
Competitor Analysis
Competition is from Lum Yun, AB Chinese, Yummy House, panda express and Sam city. Competition also comes from grocery stores like Safeway and frozen Chinese foods like from PF Chang's and Panda Express that offer packed Chinese food. Grocery stores further offer Chinese food to supplement grocery sales which makes it easy for people to utilize these centers.
PESTEL analysis of the restaurant
Political and Legal
The country does not have high restrictions for the hospitality industry. However Ping has complied with the available legal and political restrictions that shape the hotel industry.
Economy
Customer purchase patterns are affected by the economy; that is customers buy more when they have money and the other way round.
Socio-cultural (Values and Beliefs)
The Chinese do not have major beliefs on what to eat and what not to. However the cuisines are prepared in a way that complies with the cooking traditions of the Chinese foods. Therefore a restaurant that offers pure Chinese cuisines presents the best opportunity for the market.
Technology
Ping has only one website which does not increase the business sales. But the use of face book can enable the company hook more customers through improving business access to customers. For technology Ping’s only has a website but other sites have an impact on Ping’s any rating sites like Yelp or Google has a huge impact on how business runs. Hopefully with the addition of our Face book page we can make our name more known.
SWOT Analysis S
Strengths
* Variety of foods that are offered on the menu.
* It is the major restaurant that offers Chinese cuisines that are both sit in and take away.
* Business success in offering Chinese cuisines that has increased customer loyalty.
* Large number of regular customers
Weaknesses
* The restaurant has a low use of social media as a marketing tool.
* Only one outlet that limits customer access for products
* Low social media presence
Opportunities
* Business opportunities in other towns for opening outlets
* Regular customer market
* Availability of online ordering and delivery orders that can improve business opportunities.
* Available social media clients that can be obtained through utilizing social media like face book.
Threats
* Other players in the value chain that offer substitute and complimentary products.
* Presence of ready to eat and packed Chinese foods in the market.
* New entrants
Marketing Strategies:
Marketing Objectives
1. To bring a bigger range of customers into the restaurant
2. To improve social media presence and use it as a marketing tool
3. To establish a business brand that can overcome competition
Target Market
Many variables are used to divide the market and define customers. Kotler, Roberto & Lee, (2002) argues that market segments are divided along our segments of demography, behavioral segmentation, psychographic and geographic segmentation. The target market segments for Ping’s Garden restaurant are families and people who like Chinese food around Albany area. There are almost 52000 people live in there which is a big enough business that we have a following customer base. After 25 years open, the Ping’s Garden restaurant is accomplished our good public praise, and achieve a large number of regular clientele.
Demographics segments
Reutterer (2006) suggests that demographic variables are based on customer factors like age, gender, marital status, occupation, education status and race. The target Population is 51210, 51% male / 49% female. The population is evenly spread age demographics, over 50% people are around 25-45, further it is not diverse, around 90% white. 39000 people comprise families living in Albany which is over 75% of total. The business targets families and people who like Chinese food around Albany area.
Psychographic segments
Psychographic segments are based on the behaviours and interests of customers. Behaviours and interests of customers determine and shape the way customers relate to the products in the market. The business focuses on offering pure Chinese foods to clients. Elderly people and those in their 30s enjoy Chinese food. The Chinese traditional eating habits are based on family orientation, achievement orientation, and fashion orientation. Therefore the restaurant has to serve a high class cuisine to be able to satisfy the larger consumer market.
Media habits of consumers