Marketing Management- Marketing Plan
This plan is designed to report the external and internal factors that will influence the company’s success in Haiti market. The topics covers in this plan include situation analysis, marketing strategy, tactical programs, implementation and budgets in carrying out the marketing activities which differentiate the business and product offering from our competitor and marketing strategy that drive the business to earn above average profit. 3 Company Summary 3. 1 Company Overview Seoul-Roy is a Haiti based restaurant serving Korean cuisine, the name Seoul-Roy is easy to remember and easy to pronounce.
Seoul reflects the theme of the restaurant for serving Korean cuisine which is a famous destination in Korea, a megabits with a population of over 10 million and a leading global city in the world. Furthermore, “ROY’ means “Delicious” in southern Thai dialects, to have a name meaning “Delicious Seoul”, conveyed the message that the restaurant having very high standard food. The restaurant name Seoul-Roy will surely leave an impressive memory in potential customer first impression that will attract the customer to visit the restaurant for the first time.
Seoul-Roy will be operating seven days a week inclusive public holiday in operation 365 days throughout the year to ensure that customers have the opportunity to enjoy our delicious whenever they feel like it. Seoul-Roy is a medium size restaurant enhanced with cozy, comfy, friendly, and appetite tempting atmosphere for patrons through its modern contemporary casual dining style to unearth the feeling of refreshing and energize to dinners. The facility will be divided into indoor area for customer that is seeking cool comfy ambient and outdoor area for customer seeking a breath of fresh air.
The café will feature seating for approximately 100 patrons, desert bar, water fountain and liquor bar. 3. 2 Location This restaurant is planned to be situated at the empty land on Outthinking Road, n Clonk Rein area which is approximately 500 m from Tests and Prince of Songbook University. With hundred and thousand of local resident, university student and shoppers from other suburb visiting this area on everyday basis, it does instigate this area to be the perfect sites in town.
Page | 2 Heretofore, I nonviolent Road Is one AT ten major connector Detente ten roads on the external circuit to the Haiti city which have high traffic concentration. In spite of this, there is ample parking space along the road that makes it handy for by passer to stop for dine in and appear to be a profit potential site. Moreover, the rent in this area is much cheaper comparing to the retail shops in major shopping complex such as Tests, Big C, Lee Garden Plaza and Central. 3. 3 2. Objective The objective to startup Seoul-Roy includes the following: A. B. C. D. E. Become premier food franchise serving fusion of Korean food and Thai Food. Provide highest quality fresh and delicious food. Ensure that every prospect in promoting “Seoul-Roy’ brand are explore and implement. Maintain and expand every possibility to achieve outstanding reputations. Create an ideal working environment for employee in promoting good communication and great team work. F. Achieving profitable investment return between 4-6 years. G.
Achieving total daily customers of 7,000 patrons/month by the end of second year of operation. The objectives of marketing activities include: 0 To introduce Korean Cuisine to Haiti community and Songbook Province area. 0 To attract 50% of the target market and forecast potential customer. 0 To be perceived as the cleanest restaurant in the region. 0 To be perceived as restaurant serve delicious, quality, and tasty Korean cuisine in the region. 3. 4 2. 2 Vision and Mission Seoul-Roy mission is to bring to the market finest, freshest, and tastiest Fusion
Korean cuisine that is inspired by a combination of Korean and Thai cuisine in the Haiti. In conjunction to Seoul-Roy high standards of quality and cleanliness will ascertain Seoul-Roy growth into a reputable premier Korean cuisine in Haiti. The mission of Seoul-Roy includes the following: Page | 3 To bring to the market finest, freshest, and tastiest Korean cuisine. To ensure that all foods are serves to its highest level of freshness, nutrition, and gastronomic. To ensure that all order are serve with efficiency and effectiveness.
The value proposition that the target market will pay for this 50% premium price is the superior customer service experience and high quality Korean cuisine. The company will ensure that the restaurant is always has a clear proposition of the claimed benefit for the services and products. In this, the company will always monitor the quality of the food produce to Page | 4 Seoul-Roy marketing Plan ensure mouth watering experience is offered to the customer and consistently advertise on the value proposition of the restaurant through advertising media. Situation Analysis Situation analysis involves evaluating the situation and trends in of Korean Cuisine in Haiti City which defines and interprets the state of the environment of the organization. A situation analysis provides the context and knowledge for planning and achieve above average profit for the organization. The analysis describes Seoul- Roy competitive position, internal environment, external environment and critical issues.
In portraying a clearer understanding of the situation of Korean Cuisine industry in Haiti, the report further outline SOOT (Strength, Weakness, Opportunities and Threats) analysis of the organization. The situation analysis includes in this marketing plan includes: 0 0 0 External Environment Internal Environment SOOT Analysis 5. 1 External Environment The external environment affects firm growth and profitability which also a condition that creates threats and opportunities for firms that have major effects on organization strategic actions.
The organization understands of external environment coupling Walt Knowledge on Internal environment Tort Its villous to develop Its mission and to take actions that result in strategic competitiveness and above- average returns. As shown in Figure 1, an organization’s external environment is divided into three major areas which include the general, industry environment and competitor environment. The general environment is composed of dimension of broader society that influences an industry.
As a result of this, the economic and population growth of Haiti will increase very rapidly. An increase people migrating to Haiti City coupling with vivid economic outlook of the city, it is righteous decision in investing in food business in Haiti City. Economic growth and population growth nutrient to better population income and demand for food as basic needs of life, therefore investing in Seoul-Roy will prove to be a successful investment. 5. 1. 1. 3 Socio-cultural Over the past decade, Korean Wave started to sweep across Asia country.
The wave started with the popularity of Korean drama, Korean Language, Korean Cuisines and Handbook, the traditional Korean dress. CNN describe this phenomenon as kind of a syndrome where Asian people love to enjoy Korean stuffs. The Korean wave in Thailand got underway back in 2005 with “Dad]engaged”, a sop opera about the first female royal physician of Koreans Jones dynasty. The series gave Thailand a taste for traditional Korean culture, including Korean court cuisine and traditional medicine.
Inevitably, Korean cuisine became popular and Korean culture started getting attention. As increasing growth of Korean Wave sweeping across Asia region and Thailand in particular, the startup of Korean Cuisine in Haiti which in the fourth densest city in Thailand will prove to be successful investment. 5. 1. 1. 4 laconically The increasing growth of electronic ordering system in the hospitality industry to increase employee efficiency and effectiveness has exerted a technological stress on he new establishing restaurant.
Seoul will adopt ‘Gourmet Restaurant Management system standard, optional and hardware modules to manage the smooth flow of restaurant operation, promotion activities, member service and inventory management. The adoption of gourmets will enable Seoul-Roy to manage it cost effectively, carry out promotion activities smoothly and service member efficiently. 5. 1. Competitor Environment Hatchway’s Korean Cuisine industry is still emerging, there is only one competitor in the market, Domino located in Diana shopping complex which serve Korean BBC cuisine.
Of course there will be minor modification on the taste of the food to suite Thai culture appetite or definition of delicious food. In spite of this there are many competitor in the market if considering Thailand as a whole, this competitor includes: 0 0 0 0 0 Hanging restaurant Sang Goon Restaurant Slang BBC Buffet Drum Restaurant Adored @ Korean Town 5. 1. Industry Environment Although there is only one establishment providing the similar service to the market in Haiti, it is important that Seoul-Roy is establish soonest possible to be the market leader in this region before any competitors enter the market.
In Haiti city, the Korean Wave Syndrome has Just sweep the communities, It is essential that this company is born in nearby future in ensuring company market competitiveness. 5. 2 Internal Environment Resources, capabilities and core competencies create the foundation of competitive advantage. Resource can be classified into two main categories include tangible and intangible resource, it have to cover spectrum of individual, social and organization to Wylye competitive advantage. Capableness exalts when resources nave Eden purposely integrated to achieve a specific task or set of tasks.
Capabilities are often based on developing, carrying, and exchanging information and knowledge through people in an organization. Core competencies are capabilities that serve as a source of competitive advantage for an individual or organization over its competitors. 5. 2. 1 Resource Resources consist of two components, one is tangible and the other is intangible. As the company is currently in the preliminary planning stage, the company only have tangible asset of Baht 20,000,000.
The intangible asset consists of the knowledge and management capabilities. Furthermore, the company group of people possesses period innovation, interest and passion in the Korean food. Although in the initial establishing stage the company has to hire a professional chef from Korea in designing the menu, Seoul-Roy management personal inclusive the chairman of the company will continuing learn the technique of Korean Cuisine culinary skill in mitigating these threats of skill impotency and dependence on external resource.
Page | 9 5. 2. Capabilities Although the company is currently in the preliminary planning stage, the capabilities that the company possesses include: 0 Management Information System The many possesses effective and efficient data collection and information management system that will surely increase the effectiveness and efficiency of the company staff.
Management The company has the ability to envision the future of Korean Cuisine in Haiti city, background in business management, years of experience in hospitality industry and information technology will be a competitive advantage in managing the company effectively. 5. 3 SOOT Analysts Strength 0 0 0 0 0 0 Seoul-Roy exterior is tidy and clean. Food price are delicious and tasty. Offer a good choice of menu variation. Knowledge in Business Management. Seoul-Roy employs well-trained staff.
Financial resource Weakness 0 Seoul-Roy is newly established in the market. 0 Low profit margin. 0 Absence of important skills. 0 Management. Opportunities 0 Growth in Haiti population. 0 Increasing influence of Korean Wave in Thailand. 0 Haiti as centre of economics and tourism in Southern Region. 0 Economy growth of Haiti ensures long-term profitability. Threats 0 Stable of political unrest in Southern region. 0 Decreasing influence of Korean Wave. 0 Economy down-turn of Haiti city.
