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Executive Summary
In
Hong Kong, due to the large fast food demand of Hong Kong people so we can that
it has a big potential in catering
industry. This report will main force to discuss how to use
a suitable marketing strategy to achieve
our company goal although we only as a new
launch company. It will have five steps in
our marketing strategy. We will main force to
sell Chinese style food in different price
level in public estate. We will choose
psychographic segmentation and demographic
segmentation as our segmentation
strategy. Also, our target customer is
some people who the tendency about Chinese style
food. Finally, we will choose service differentiation and image
differentiation as out
positioning strategy. In the future, we
have the three works to do. We need to control our
whole marketing activity. Also, we need to
do some market research regularly to make
we know more about the market. Finally,
the management of customer relationship is
also paramount for us which make we will
increase the customer loyalty to spare no
effort.
Table of Contents
a cover page……………………………………………………………………… .…….... P.1
b Executive Summary……………………………………………………………….….…. P.2
c Table of contents………………….…………………………………………..……....…. P.3
1 Introduction……………………………………………………………………………..…. P.5
2 Competitor background information……………………………………….……….…...P.6
3 Understand the concept and process of marketing……………………………..........
P.8
3.1 Explain the
various elements of the marketing process…………………………. P.8
3.2 Evaluate the
benefits and costs of a marketing orientation for a selected organization……………………………………………………………………………….…
P.20
4 Be able to use the concepts of segmentation, targeting, and
positioning…………..P.25
4.1 Show macro and
micro environmental factors which influence marketing decisions…………………………………………………………………………………......
P.25
4.2 Propose
segmentation criteria to be used for products in different markets……
…………………………………………………………………………….... P.32
4.3 Choose a
targeting strategy for a selected product/service…………………….. P.35
4.4 Demonstrate
how buyer behavior affects marketing activities in different buying
Behavior situations……………………………………………………………………. P.38
4.5 new positioning
for a selected product/service……………………………...… P.49
5.Conclusion……………………………………………………………………......…… P.53
6.Recommendation…………………………………………………………………..…. P.57
7.Reference……………………………………………………………………………….P.73
1.Introduction
This report will address the assignment title: Innovation and creation.
This report
will discuss what kind of product and service we should invest in.
Therefore, some information about the current
market situation will be showed in this
report. A
company which is a largest
Chinese fast food
restaurant group in Hong
Kong is chosen as our compare object. Different points and issues will be
elaborated
based upon our competitor information. For
instance, first, the various elements of the
marketing process involved and the benefits and
costs of marketing orientation will be
explained and evaluated between our competitor and
our company. Then, the macro
and micro environmental factors which influence
marketing decisions will be advised
for you and the segmentation criteria to be use for
the product in different market also
will be proposed. Next, a targeting strategy will
be chosen for our product and services
and 2 scenarios of buying situation will explain
how buyer behavior affects marketing
activities in different buying situations. Finally,
a new positioning for our product and
services will be proposed base upon our competitor’s
product market positioning. We
know that our goal is to have a presence in the
product world so we hope this report
can provide more useful information to make us
investment success.
2.Competitor background information
Cafe de carol is chosen as our compare object
in this report. Firstly, we talk about
some background information about this
company. Café de
Group is one of the largest
food and
beverage listed groups in Asia. The Group is committed to operating fast-food
chain restaurants
and specialty catering businesses. In recent years, Café Group has
been actively
developing all-round catering and food processing businesses. Café Group
was
incorporated in October 1968 and was listed on the Hong Kong Stock Exchange in
July 1986,
becoming the first local catering group listed at that time. In October 2001,
the
Group was
officially listed as of the 200 largest constituent stocks in the Hang Seng
Composite
Index Series. After nearly half a century of unremitting efforts, they
are now
firmly in the
Hong Kong fast-food industry`s market leadership. The Group`s business is
in Hong Kong
and the Mainland, with more than 330 business units and 120Branches.
Cafe de carol also actively pursued other strategic
brands to continue to grow in the
highly
competitive fast food market in Hong Kong. The Group`s other strategic brands
include super congee
and Mixian sense to further develop this huge market.
3.Understand the concept and process of marketing
3.1Explain the various elements of the marketing
process
The various elements of the marketing
process describe the 7Ps which call the
marketing mix. The
marketing mix which means a series of the tools or elements of
marketing which
can control by marketer to satisfy the needs of the target market is a
part of the
marketing strategy planning. These elements can summarize to seven
categories which
is product, place, price, promotion, people, process and physical.
When we choose the target market and decide
how to make the product position, we
will need to use
diverse marketing tools to fulfill the market. These tools collectively
called the
marketing mix. Therefore, if our company want to achieve our goal; we must
know our
competitor how they use their marketing mix and how we use our marketing
mix. Therefore,
the information of the various elements about our competitor will be
showed in the
following. Also, some recommendation about our marketing mix will be
suggested in the
following.
Product
Product is a wide-ranging concept which means
company provide all the goods and
services which in order to fulfill the needs of target customer This not
limit for a tangible
goods or an intangible service. Product include physical goods,
services, features,
quality level, accessories, warranty etc.
About the physical goods, Café
de Coral is a fast food restaurant chain that serves
both Chinese and Western food. It caters to over 300,000 people on an
average day.
About the quality level, Café de
Coral usually collect a variety of quality ingredients in
different places such as the "Hoki Fillet" from the
pollution-free Southern Ocean, "Sirloin
Steak" from the all-natural prairie in New Zealand, the vivacious
"Samba Pork" and the
pedigree "Grilled Unagi" from Japan. They allowing customers
in each of their branches
can enjoy the same gastronomic experience of quality food.
About the brand, Café de Coral
make their brand image very clear. They utilize the
name of company, graphic and design to make their product is different
from another
competitor. Their target is to help customer to identify their product
more easily. For
instance, the graphic of their company which select the yellow is very
sharp. Also, the
name of their company which means customers, staff and shareholders are all
happily
united is very significant and interesting.
About the product lines, Café de
Coral’s product lines is also very extensive. They
provide a variety of Different of food to customer in order to sell for
customer of target
market who have the similar or same needs which can make their target
market can be
more extensive. Their food is not limited to one particular local
feature.
All in all, they can already
fulfill the needs of their target customer in product aspects.
Therefore, when our company start beginning, we can generally refer to
their product
model.
About the physical goods, we can
focus on a certain type of food such as Chinese fast
food so that we can focus on serving the smaller target market. When we
operate more
time and more stable, we add more other characteristics of food.
About the quality level, since
we cannot like Café de carol to search ingredients all
over the world, therefore, we only need to make sure our food is fresh
and safe is
enough. Making our quality level is stable.
About the brand, we can use some
sharp color such as red, green, blue to design our
sign. To make more people can recognize our company more easily.
Furthermore, we
can design some slogan to represent our company. To make our company
image more
prominent and distinctive.
Price
Price means the
company decide different price strategy based on different market
position. Product pricing is based on company brand strategy, focus on
brand gold
