Marketing Analysis for Indian Restaurant

fodder commercialize placeing Analysis for Indian RestaurantAim and raftThe main fair game is to bid customers with authentic Indian aliment entwine with the captivating taste and nutritional values of traditional Indian herbs and spices served in a traditional Indian (Punjabi) sitting to give the complete whole tone of incredible India, at the prices which dont make batch think twice. The channelize customers be large number of Indian student and families in the area with the aim of taking locals into our food by capitalizing on the growing popularity of traditional Indian food.The main focus of our perpetration statement is to satisfy our customer by raiseing traditional Indian food and likewise provide timbre divine service in the form quick sign delivery service. creation a lofty class connection, most of the nation in Hatfield are on the job(p) in offices from 9 to 5. In sound out to draw and quarter these customers we leave behind provide competi tive prices to attract customers from competitors.IntroductionWe go forth start food backup with the name of DELI-SIOUS which exit be traditional foods. For the location of our argumentation we are choosing Hatfield which is one of the City of Hertfordshire County. We chose this descent beca theatrical role according eating house top there was an fortune avail up to(p) for Indian traditional food eatery in the region of Hatfield. To gain this opportunity I made a commercialiseplaceing pattern for castors to exchange this opportunity. (Restaurant guide)In the preparation of this report twain primary and secondary data is involved. Primary data was stash a appearance from local people of the Hatfield by using questionnaires and interviews. While secondary data were collected from Hertfordshire County Council (HCC) and also related books, journals, websites regarding marketplaceing. To analyse the remote and innate environment we use Swot analysis as a lance to know more than or less the market. I yield also interrogation related sources regarding my marketing send off such as trip advisor, restaurant guide and mintel international group Ltd.Financial overviewWe get to a small dividing line loan of 50,000 provided by two melody partners, which befuddle to be paid back in instatements in coming troika years. In first year of our business we dont have to pay any installments and after(prenominal) first year we have to pay installments on the interest rate of 5.6%. There are three profitable opportunities available in the region of Hertfordshire country, which areOpening a retail premisesStarting a landscape gardening businessLaunching a virtual office support serviceFrom the preceding(prenominal) opportunities we have chose restaurant business, according restaurant guide there is an opportunity available in Hatfield for Indian food. The allocation of resources allow be discussed in the action political platform.In the first year o f our business which is 2010, our evaluate profit provide 5000 and in 2011 we will stop more then 7000 because of add sale by 40% in 2011. We still aim that our expected profit in 2012 will be more then 10,000 because of increase sale by 40%. To chance on these profits we will enthrall the market with the help of superfluousity system.Our expected sales in 2010 will be 30,000, we will increase our sales in 2011 by 40% our expected sales will be more 42,000. We further look to increase our sales in 2012 by 40%, as a leave behind our expected sales in 2012 will be 59,000. We have an objective to capture 15% market part by the remove of celestial latitude 2015. securities industry overviewHatfield is located in the County of Herefordshire originally Bishops Hatfield, is in the Welwyn Hatfield zone of Hertfordshire, in the south of England. Hatfield is 20miles (32km) to the north of London and separated from the city by the Green Belt. The town has excellent transport links with the nearest airport at Luton simply 14miles (23km) away and Stansted airport also within simplified reach. Most nearest cities are St.Albans, Luton, Hemelhempstead and Welwyn Garden city.We dejection laughingstock the people of nearest cities such as Luton, St.Albans and Hemelhempstead because people from these cities have a hypothesise in Hatfield. Our high mastermind customers will be students and staff of Hertfordshire University. (AAroutefinder.com)In Hatfield there are 17 restaurants are working but they are not go Indian traditional food, in rank to cash this opportunity I have a marketing plan for investors to invest in this restaurant. As for people living standard is concern in Hatfield, majority people belongs to middle and high class having income per year from 25,000 to 40,000. (Restaurant guide) jibe Hertfordshire county council in 2001 census the population of Hatfield has expanded over 28,000 and still growing. collectable to high argument in the market challenges can be confront in the market. Competitors created barriers for new entrants but we can enter in the market with the help innovative ideas and competitive prices. (Hertfordshire County Council)Market ResearchAccording to McDonald (2007366) Market Research is a logical, objective collection and analysis of data or so a particular tar gear up market, environment and also competition, It always incorporates some(prenominal) form of data collection and could be secondary research or primary research which is directly collected from a respondent. It can be classified either as external or internal. The main take of the market research project is to achieve an increased understanding of the stem matter. In the preparation of this report both primary and secondary research has been conducted to collect the data. Market research enables the business to know about the challenges, barriers and accept of the target customers in the market.Market segmentationKotler (199 7) states that market segmentation is the variety of portions of the market that is different from one an otherwise. Due to segmentation firms will be able to satisfy the extremity of the target customersWe will segment the market into different parts, such students, junior couple, and local company people. We will provide special offers to the students on Tuesday in order to attract them. Mostly students and young couples like spicy food we will offer spicy food to them. We will also offer coffee and tea to target the people working in offices and also entertain them with a soft music.Market segmentation of DELI-SIOUS RestaurantMarket segmentation of DELI-SIOUS can be vegetarian, non-vegetarian and target market of DELI-SIOUS will be students and staff of Hertfordshire University, young couples and local community of Hatfield. Some cities like St.Albans and Hemelhempstead and Welyn Garden city are near to Hatfield so we can also target these cities as fountainhead. To attract I ndian community customers we will offer vegetarian food (for Menu see App mop upix). We will target local community of Hatfield by offering Chilies food because they prefer these foods, To target students we will offer special discounts on Tuesday, to target families we will offer free kids food. wonk analysisIn order to achieve goals and objectives and sweep over problems, practitioners suggest strategic tools in the form of porters forces and swot analysis. According to Alison (2004) SWOT analysis is a strategic planning tool that helps in identifying external factors (i.e. opportunities and little terrors) for, and internal factors (i.e. strengths and weaknesses) that need to be considered for determining where a business should be going in the future and how to you inhibit upcoming threats . On other hand David (2007) argues that Swot analysis indicating the smart objectives by analysing both internal and external factors in the business environment.SWOT analysis for DELI-SIO USStrengthsThe location we will select is very lovable because its near to St.Albans and most people are coming from St.Albans to Hatfield.Opportunity available in the Hatfield town for traditional food, only few restaurants are offering traditional food.We have highly measure up and experienced staff to satisfy the need of the target customer by offering spirit food and service.We will offer reasonable prices to attract customers from competitors, moreover price catering to every section of society.(www.restuaantguide.com)WeaknessesWe have some weaknesses such as we will be new in the market and to surpass this weakness we will focus on the promotions and also by using networking.We will be restricted to resources but we looking to get loan from bank by the nullify of dec 2010.OpportunitiesOpen twine of restaurantsTo make restaurant a multi cuisine to expand customer.By offering traditional food we can easily attract customers from our competitors.ThreatsHigh competition in the market, which can be a threat for our restaurant and also some barriers created by competitors for new entrants. But we can overcome this threat with the help of innovative food such as traditional Indian food.Recession can also be a threat for our restaurant, to overcome this threat we will offer reasonable prices as compare to our competitors. facing pages analysis for DELI-SIOUS RestaurantIn 2010 our expected sales will be 30,000 and we plan to increase by 25% by 2011, which means our sales in 2011 will be 42,000. We further aims that we also increase our sales by 25% by 2012, which means our expected sales in 2011 will be 59000. From the above graph it is quite clear that surrounded by 2010 and 2012 we have a gap of 29,000. In order to overcome this gap, we need to adopt marketing strategies in the form of penetration strategy and differentiation strategy.By adopting penetration strategy we will penetrate in the market with the help of an effective advertizing and also by o ffering quality traditional Indian food to our target customers. After penetration in the market we will adopt differentiation strategy to differentiate our business from competitors by offering competitive services and prices. By adopting these strategies we can create a competitive advantage in the market.In our restaurant we will have 25 seating capacity, to reach 2010 target sales we expect 40 to 55 customer per day. In 2011 we expect 55 to 80 customers each day and in 2012 we will further expect 80 to 110 customers each day.Smart objectivesAccording to Croft (1994) objectives play a life-sustaining role in the making the marketing plan successful. He further suggest strategic tools in the form of Swot analysis, Porters five forces and oath analysis as an environmental analysis which have to be conducted to secure boilersuit marketing plan. By clarifying the task employees will be motivated to reach the given targets and as a result overall performance of the organisation can be improved. These objectives should be smart, measureable, specific, realistic realizable and timed.Smart objectives for DELI-SIOUS RestaurantSurvival ObjectivesThe most significant objective of our business will be to penetrate into the restaurant market as well to get ahead our restaurant in Hatfield with the help of efficient advertisement by offering traditional Indian food and excellent customer service to our target customers. After penetration we need to focus on change magnitude the sales and market share.Profitability objectives our profitability objective is to reach 15% return on capital employed by Dec 2012 because we have a loan of 50,000 provided by business investors we need to pay installments after one year.Promotion objectives To increase awareness of the restaurant in the market with the help of networking and effective advertisements.Market share objectives we have an objective to increase our market share by 15% by the end of Dec 2015.Sales objectives We ai ms to increase our sales by 40% by end of Dec 2011 and we will further increase it 40% by end of Dec 2012. In 2009 our focal point will be the excerpt and penetration in the market by adopting penetration strategy.dodge to achieve objectivesTo reach the given objective 1st we need to adopt cleverness strategy to achieve our most vital objective which can be survival objectives. Which can be possible by adopting penetration strategy and to make this strategy successful we will focus on the advertisement such as advertising restaurant in the local newspaper, scattering of leaflet in the local community and most important to use social and business networking. By using this strategy we will promote our business in the target market to attract the target customers. We will offer reasonable prices as compare to our competitors as a result our restaurant will be differentiated from competitors. After penetration in the market we will focus on achieving sales and market share objectives by increasing the sales and market share. We can achieve these objectives by adopting Differentiation strategy. By using this strategy we will differentiate our restaurant from competitors by offering traditional Indian food with Indian base of operations to our target customers and excellent customer services.Marketing Mix for DELI-SIOUS RestaurantintersectionProjected Meal 1 Vegetarian Mixed PlatterAccording to our mission statement we will more focus on the traditional Indian food such as herbs and spices. With the help of traditional food we can easily attract customer to creative a competitive impersonate in the marketConfirming to health standards.Free and quick home delivery service.PriceProposed price for Meal1 15.95 currently due to recession customers withdraw for discounts from restaurant, by offering reasonable prices we can meet their demands.Special price offers for students on Tuesday.Special price offers on advance table booking. interjectProposed location Hatfie lde will make our restaurant more attractive with the help of an effective furnishing.In our restaurants customers will feel a stand of India by enjoying the Indian traditional food.We have 50 seating capacity, we plan to increase in 2011.PromotionWe will promote our restaurants with the flyers, leaflets and advertising in the local newspapers.We will offer special deals to students of university as a tool of promotion.We will use our networking to promote our restaurants in the local people by arranging event in the local community.Resources all toldocationLoan provided by the investors is 50,000 for the coming three years with a rate of 5.6%. In order to utilise this capital in a best possible way we will use 13,000 on the hiring the building and 9,000 will be use for the building refurnishing. While 24,000 will be use as working capital and 8% of the budget will served on the promotions of the restaurant which is 4000. nitty-gritty salary of the employees will be 6,800 per mont h which can be subtracted from working capital. For details see appendix.MonitoringAll the operations such as advertising, finance, raw material, of our business will be supervised by manager. All the subordinate are responsible to report to the manager on routine al-Qaida and manager is responsible to report to the business owners. Purchasing of breed will be done on a weekly basis to minimise the warehouse cost.Risk and Contingency plan and strategyCurrently one of the high risks to our business is the recession many businesses are travel down and unemployment has increasing rapidly in the UK. In Hatfield there is high competition in the market between rivals and creating barriers for entrants in the market. One more risk to our business is the substitute products such as University restaurants and forum. (Financial times)In order to overcome the above risks to our business we have a contingency plan and strategies. To overcome the recession risk we will offer discounts to our target customers. To overcome the second risk to our business we will adopt cost lead strategy by reducing the cost we will be able to compete with our competitors. To overcome the risk regarding university restaurants forum we will offer special deals to the students in order to attract them.ReferencesCroft, M. J.(1994) Market segmentation. 2nd edition. Published by Routledge.David F R. (2007) Strategic care concepts and cases (12th edition), Pearson international edition.De Wit, B Meyer, R (2004) Strategy Synthesis (Resolving Strategy Paradoxes to Create Competitive Advantage), (3rd edition)Thomson Business PressJobber, D. (2004) Principles and institutionalise of marketing, 4th edition. Berkshire McGraw Hill.Luther, W. M. (2001) The marketing plan. 3rd edition. Library of congress cataloging.McDonald, M. (2007) Marketing Plans, sixth edition. Oxford Elsevier.Restaurant guide available online at http//www.restaurant-guide.com/uk+south-east+hertfordshire+hemel-hempstead.htm en vision accessed eighth Dec 2009Stanley, P. (1993) International marketing. 2nd Edition. Chartered Institute of Marketing.Rieple, A. (2001) The strategic management of organisations, Prentice HallRoute planner available at httpwww.theaa.com/route-planner Date accessed 2nd Dec 2009Trip Advisor, Visiting Hatfield, Online, and www.tripadvisor.com Date accessed 7th Dec 2009Up My Street, Neighbours in Hertford, Online, Available www.upmystreet.com Date accessed 5th Dec 2009