Marketing and Internal Environment Value Proposition (Editing Sample)
Type of work: Coursework
Topic: Any topic (Writer's choice)
Number of pages: 2 pages = 500 words
Formatting style: APA
Language Style: English (U.S.)
Grade: High Quality
This is my uncompleted marketing plan I just need you finish
“”Marketing Strategies“： Psychographics，Media Habits of Consumers，Product/Services Position，Product Strategies，Pricing Strategies，Promotion Strategies 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 there 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. Marketing Objectives 1.To bring a bigger range of customers into the restaurant 2.Social media presence 3.To increase athe flow of customers coming into the restarunt on a daily baysis. THIS GOALS DUPLICATES GOAL NUMBER 1, SO LET'S INSERT ANOTHER TARGET GOAL … THANKS, rob Marketing Strategies (Actions) Ping's overall does pretty well for itself it has a 4.1 / 5 on Facebook but yet it doesn't have a facebook account. I want to help the owners create the Facebook account so they have more of an online presence. Implementation (Action Plan) I'm working on a survey and i will go to the restaurant and sit there and hand out a paper survey -- Situation Analysis: Internal Environment Value Proposition- We provide freshly prepared Chinese cuisine with large portions and a family friendly environment. Mission Statement-To provide quality family style chinese food at a reasonable price. Organizational Structure- The organization structure is a matrix structure with two mangagers 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 sugestions from their employees. Current Products/Services- There is a wide variety of different types of American Chinese foods on the menu. From seafood, different types of noodles, soups chicken dishes, beef dishes and so on. We also offer food for takeout if you don't want to eat in the restaurant. Markets-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. Customers/Sales Performance- Business Patterns (Cycles, Key Customers) Distribution- We only have one location at 1206 SE 9th Ave, Albany, OR 97322 that stays open from Tuesday to Sunday. Only closed on specific holidays and 2 weeks in june/july. External Environment Competition- The more notable restaurants that sells the same type of food that we do is Lum Yun, AB Chinese, Yummy House, the biggest one I would say is Panda express and Sam city. Those are mostly the direct competition. There is more than that any other restaurants that are open in Albany big company chains. Also grocery stores like Safeway or grocery stores in general more things like frozen chinese foods like from PF Chang's and Panda Express making it easier to get chinese food without going to a restaurants. Safeway also has a deli that also serves chinese food. People have easy access to get chinese food while getting their groceries. Another easy access to chinese food would be Panda Express they provide chinese food but make it quick to get and take togo no waiting like Pings where we provide fresh cooked food when ordered. Economy- When people don't have money they don't go out to eat as much. We can't do much to change this maybe offering coupons or lowering the price of things on certain days or times would help compensate for not having money. Technology 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 Facebook page we can make our name more known. Political and Legal Sociocultural (Values and Beliefs) SWOT Analysis Strengths- Weaknesses Opportunities Threats Marketing Objectives (Goals): Operating a successful and efficient Chinese restaurant in Albany with a workforce, not exceeding ten persons. Obtaining a minimum of approximately one hundred regular clientele after the facebook built. Increasing a reasonable net profit towards because of facebook advertising campaign. Marketing Strategies: Target Markets The target market 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 ○ Population: 51210 ○ 51% male / 49% female ○ Median age: 35.2 ○ Very evenly spread age demographics, over 50% people are around 25-45 ○ Not diverse, around 90% white ○Almost 39000 population in families living in Albany which is over 75% of total. Psychographics Media Habits of Consumers Product/Services Position Product Strategies Pricing Strategies Promotion Strategies
Ping marketing plan
Pingâ€™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 30â€™s. Pingâ€™s has always kind of been a family oriented restaurant with large portions that many people can share. Talking to Ping, he said, â€œWe have seen a raise in customers over the past few years after the economy started getting better.
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.
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.
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.
Pingâ€™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 Pingâ€™s. This makes pings more of a family restaurant.
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.
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.
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.
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 Pingâ€™s only has a website but other sites have an impact on Pingâ€™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
* 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
* 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
* 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.
* 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
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
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 Pingâ€™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 Pingâ€™s Garden restaurant is accomplished our good public praise, and achieve a large number of regular clientele.
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 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
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