1. The catering business aims to capture 20% of the high-end market share in Karachi by offering customized, high quality catering services.
2. The target customers are business professionals, organizations, and families who value quality, price, and reliability. Initial projections estimate serving 300-500 new clients in the first year through marketing and referrals.
3. Key competitors control about 70% of the existing market through established brands. However, there is opportunity to target unserved segments by specializing and offering a trusted brand.
A Business Plan On Catering Services (Wholesome Catering Services)Sneha J Chouhan
Viewers please note this presentaion is for educational purpose only. The figures and details mentioned in this presentiontation are purely hypothetical.
A Business Plan On Catering Services (Wholesome Catering Services)Sneha J Chouhan
Viewers please note this presentaion is for educational purpose only. The figures and details mentioned in this presentiontation are purely hypothetical.
2. Designing Quality Service
Many Leisure and tourism contexts contain a myriad of individual experiences, whether rich and fulfilling or superficial and merely entertaining, and have implications for understanding and designing the leisure and tourism product. The premise of giving the consumers what they want springs to mind when writing about design quality. Unfortunately it is not as easy as it suggests, because consumer needs and wants are constantly changing. What have been satisfied them at one time no longer does so. Leisure experiences, especially those catering for the youth market, can be in fashion one moment and out of favor the next. (E.g. themed pubs, skateboarding, step aerobics).
Characteristics of Service
The general consensus is that services have a number of characteristics common to manufacturing, the tangibles. These are not only the physical features of the environment that the service is delivered in but anything that is taken away by the customers.
2. Designing Quality Service
Many Leisure and tourism contexts contain a myriad of individual experiences, whether rich and fulfilling or superficial and merely entertaining, and have implications for understanding and designing the leisure and tourism product. The premise of giving the consumers what they want springs to mind when writing about design quality. Unfortunately it is not as easy as it suggests, because consumer needs and wants are constantly changing. What have been satisfied them at one time no longer does so. Leisure experiences, especially those catering for the youth market, can be in fashion one moment and out of favor the next. (E.g. themed pubs, skateboarding, step aerobics).
Characteristics of Service
The general consensus is that services have a number of characteristics common to manufacturing, the tangibles. These are not only the physical features of the environment that the service is delivered in but anything that is taken away by the customers.
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Consumer Behavior and Marketing StrategyChapter 1.docxmaxinesmith73660
Consumer Behavior and Marketing Strategy
Chapter 1
Consumer behavior Definition
Consumer behavior is the study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society.
Key Aspects Regarding Consumer Behavior
Need extensive information about consumer behavior (i.e., organizations are regularly applying theories and information about consumer behavior)
Need to obtain information about specific consumers of interest (i.e., conduct research)
Key Aspects Regarding Consumer Behavior (continued)
3. Consumer behavior is complex and multidimensional (note: research increases the odds for success but is not a guarantee that you will succeed)
4. Marketing approaches that focus on modifying consumer behavior can involve ethical concerns (e.g., marketing Coca Cola can provide consumers with an enjoyable drink but also a lot of sugar consumption can have unhealthy effects such as cavities in teeth)
Applications of Consumer BehaviorMarketing StrategyRegulatory PolicySocial MarketingInformed Individuals
Marketing StrategyMarketing strategies and tactics are based on explicit or implicit beliefs about consumer behavior.Decisions based on explicit assumptions and sound theory and research are more likely to be successful than are decisions based solely on implicit intuition.Knowledge of consumer behavior can be an important competitive advantage and can greatly reduce the odds of bad decisions and market failures!
Regulatory PolicyVarious regulatory bodies exist to develop, interpret, and/or implement policies designed to protect and aid consumer [e.g., Food and Drug Administration, (FDA)].Effective regulation of many marketing practices requires an extensive knowledge of consumer behavior.
Social MarketingSocial marketing is the application of marketing strategies and tactics to alter or create behaviors that have a positive effect on the targeted individuals or society as a whole.As is true for commercial marketing strategy, successful social marketing strategy requires a sound understanding of consumer behavior.
Informed IndividualsMost economically developed societies are referred to as consumption societies. Most individuals in these societies spend more time engaged in consumption than any other activity, including work or sleep.Knowledge of consumer behavior can enhance our understanding of our environment and ourselves. Such an understanding is essential for sound citizenship, effective purchasing behavior, and reasoned business ethics.
Marketing Strategy and Consumer BehaviorCustomer value is the difference between all the benefits derived from a total product and all the costs of acquiring those benefits.It is important that one considers the customer’s perspective.Providing superior customer value requires the organization to do a better job o.
Application of strategic management and its impact on acme laboratories ltd i...
Catering Business – (Marketing Plan)
1. Catering Business – (Marketing Plan)
I. Vision Statement
Discovering Dream
Converting dream into reality
II. The Challenge
Our challenge is to meet the changing demand with traditional taste. The aim is to develop new
market, diversifying business activities and reliable high quality services.
III. Situation Analysis
Company Analysis
Goals: Claim the 20% share in high-end market
Focus: Upper middle and middle class, corporate sector, alumni reunions, student farewells,
graduation ceremonies, picnics, tourism and traveling, and Eid.
Culture: Forward thinking, creative and participative. Prefer towards lean management.
Strengths: Dependability and strong relation with supplier and client, food quality meet or
exceeds clients’ approval, food and services are fair and competitive, proper control on cost,
account receivable and payable. Well trained staff and proper monitoring market trend
anticipation.
Weaknesses: Introducing in the established market, experience and financial aspect.
Market share: Initially, through referral and word-of-mouth, corporate events and occasional
parties create share around 7% of the market in Karachi within first one year.
Customer Analysis
Number: The estimation for first year is 300 to 500 numbers of new client would the generated
through marketing and social lobbying.
Type: Business professionals, organizations and families.
Value drivers: Fair combination of quality and price, Eastern look, color creativity, time
management and planning with experience in budgeting.
Decision process: Consensus requires that a majority approve a given course of action.
2. 1. Problem/Need recognition: recognizing that a problem exists, identifying competing
explanations for the problem, and evaluating the drivers behind those interpretations
2. Information search: Peer pressure to conform to the opinions held by the group.
Consumers can rely on print, visual, and/or voice media for getting information.
3. Evaluation of alternatives: on the basis of varying product attributes, and whether these
can deliver the benefits that the customers are seeking. the degree of involvement
4. Purchase decision: buying the product that is what the other peers of the consumer think
of the product
5. Post-purchase behavior: spreads good word for the product and increases the chance of
frequent repurchase
Concentration of customer base for particular products: Our focus is on customized product with
the demand and need of the customer, they will decide our portfolio. The founding
concentrations are classic, high-end, traditional look and quality.
IV. Situation Analysis
Competitor Analysis
Market position: Competitors are present on both high and low market. They are offering
tradition and luxurious services. But there is a gap for well known brand and missing position for
big market.
Strengths: Competitors have well established resources over the period of time. They build
strong position in human, contacts, capital and technical sound structure.
Weaknesses: They have missed appropriate positioning in changing market trend. There is a gap
between known brands in the big market.
Market shares: They are covering almost 70% of the market. Well known competitors of event
management industry in Pakistan are characterized by three main market segments that include;
Professional caterers like Hanif Rajput, Larosh
Second segment contains hotels and restaurants, divided into two sub segments
o Led by local restaurants namely Pakistani chains like Lasania, Usmania
o International chain of hotels like Mariott Caterers, Pearl Continental Caterers
Third segment largely dispersed on small catering outlets like Pakwan houses
Collaborators
We start the business as a sole proprietor. And will make partnership with major player in the
event management firm in the industry by outsourcing the services.
Climate
Macro-environmental PEST analysis:
3. Political and legal environment: As with little fluctuation the political environment is getting
stable I our society. We can call it as Moderate-stable
Economic environment: The country’s economical position is stable and tuning up of growth
path. It gives fruitful signal on overall industry.
Social and cultural environment: With the rapid change in Pakistani culture in last two decades,
now this Southeast Asian society is developing its own taste, adapted from various neighbor.
Technological environment: The tech industry has a noticeable impact on overall picture of the
society and particular in this event industry as well. As the people getting aware of recent
changes in the other culture and their demand for entertainment is increasing. So it has positive
effect on event planning firms.
III. Situation Analysis
SWOT Analysis
A SWOT analysis of the business environment:
Strengths:
1. Name: respectable unique name, match with the product category, perception of
the society
2. Ideas: Innovative in itself defining new direction in the local industry.
3. Contacts: Effectively utilizing the sources and supplier to generate uncompetitive
product.
Weaknesses:
1. Physical presence in the market undercount for providing the services.
2. Finance: To cater broader market need, initially financial position does not
support us and it may be utilize as to support.
3. Brand equity: Event management industry requires trusted and strong
recommendation. The pioneers of the industry already build their connection with
the customers.
Opportunities:
1. The food marketing is growing; people are heavily relying on outside food.
2. Specialization needed to satisfy the requirement or meet the demand of client.
3. Un-tap lucrative market, as there is limited organized professionals available to
fulfill the needs. And they are difficult to approach.
Threats:
4. 1. Rule and regulations: The Pakistani society is strongly leads by culture and still
defining by different forces to alien the behavior e.g, one-dish, time restriction.
2. Imitable: Due to undefined laws and undeveloped industry’s regulations, the ideas
are perfectly imitable.
V. Market Segmentation
Description of the Market segmentation as follows:
Segment 1
Description: Corporate client are the major target as the frequency define the profitability and
provide the opportunity to consistently develop our self.
Percent of sales: For the first year, the corporate client as expected to claim 60% percent of the
total sales which represent our major business reliance on this sector of the industry.
What they want: Professional service, high in quality, reliable and consistent and convenience
How they use product: Uses of events are developing relationship, meetings, celebrating
achievements and for the purpose of enjoyment.
Support requirements: Suppliers collaboration is highly valued as it’s the total business of
dependability. It’s a industry where positive words of mouth generate clients.
How to reach them: Referral plays a major role in spreading the service benefits and generating
the goodwill. The other sources are communication channel like using promotion and suppliers
are also the business.
Price sensitivity: The corporate segment’s price sensitivity is moderate or sometime low as the
event’s success is more importance than price.
Segment 2
Description: General public which represent the larger part of the society and from the quantity
of event, this segment accounts many festivals and occasions.
Percent of sales: The general public will represent 30% of the sales as this market is more intend
towards referral and avoid taking risk.
What they want: Quality, highly reliable and convenience
How they use product: Uses of events are developing relationship, meetings, and for fun.
Price sensitivity: This segment is highly price sensitive.
5. VI. Selected Marketing Strategy
Marketing mix decisions (4 P's) of product, price, place (distribution), and promotion
Product
The product decisions should consider the product's advantages and how they will be leveraged.
Product decisions should include:
Brand name: Pearl
Quality: Elegance
Scope of product line
Customized event website creation
Online registration and delegate management including online payment
Venue selection
Procurement, sourcing and RFPs
Content management including abstract and/or paper management, reviewing,
programme development and publishing
Exhibition management including floor planning, booking and billing
On-site operations including registration, badges and networking
Audience response solutions, live slide sharing and second screen tools as live polls,
Q+A, etc.
Price
Discuss pricing strategy, expected volume, and decisions for the following pricing variables:
List price
Standard Menu (Rs. 270 per person per menu) – Minimum 100 Guests
Menu Description Cost Price
(Rs.)
Cost as % age of
Price
Sales Price
(Rs.)
A Chicken Biryani / Pulao / Chicken Qorma / Karahi
/ Aachar Gosht / Fresh Mixed Salad, Taftan,
Raita, Sweet
135 50% 270
B Egg Fried Rice, Chicken Vegetable Chilly,
Chicken Sweet 'N' Sour, Egg Roll, Seasonal Fresh
Salad, Sweet
110 40% 270
C Chicken Pulao/Biryani, Mutton Kunna, Fresh
Mixed Salad, Nan, Taftan, Sweet
135 50% 270
D Fruit Triffles, Shahi Kheer, Gajar Ka Halwa, Luki
Ka Halwa, Firni, Shahi Tukra, Fruit Custard,
Zarda, Suji Halwa, Mutanjan
80 30% 270
* The client can choose any one of the sweet as per the menu,
6. The above menus are standard offerings based on the current market practices. The customer
must be allowed to choose a menu for himself in case he finds other combinations suitable to
his/her needs. However the price charged per head for the customized menu would be revised
depending on the modifications made by the client in the standard menus.
Additional Items
The following gives the item cost and sales price (per head) for each item that might be added or
removed by the client in order to customize the menu.
Description Cost Price (Rs.) Cost as % age of Price Sales Price (Rs.)
Bar B Q
Chicken behari Boti 70 50% 135
Behari Kabab 45 40% 105
Mutton Chops 55 45% 120
Beef Boti 30 45% 120
Rice
Mutton Biryani 80 30% 150
Chicken Pulao 80 30% 150
Mutton Sindhi Biryani 80 30% 150
Chicken Biryani 80 30% 150
Salad Bar & Chutnies
Russian Salad 15 20% 60
Aloo Bukhara Chutnies 20 25% 60
Sweet Coleslaw 12 15% 60
Sweets
Ice Cream 30 50% 60
Gulab Jaman 30 30% 60
Lab-e-Sheereen 25 50% 60
Cream Caramel 40 50% 60
Beverages
Tea / Green Tea 20 20% 35
Coffee / Espresco 35 40% 50
Cold Drink (Crate) 20 As per market rate 30
Mineral Water 15 As per market rate 25
Decorating Charges (per head)
Description Charge Out Rate (Rs.)
Buffet Arrangement 160
Banquet Arrangement 180
Stage with Fresh Flower as per choice 300
Place
Decision variables include:
7. Locations: Karachi
Corporate: Kashmir lawns. PC, Marriot
General Public: Gulshan, Sakhi Hassan
Promotion
Advertising & media: Billboards will be place near commercial and public entertainment area.
Social media campaign also be the part of this.
Promotional programs: Ads campaigns begin for 2 months before induction and 4 months after
launching the product.
VII. Short & Long-Term Projections
The Sales are expected to increase by 15% every year. The 15% annual increase in revenue is
expected to result from a part increase in population increase and part increase in product price.