Marketing Management- Marketing Plan Essay

2 interpolationThis report is prepared as part of the course submission for merchandising perplexity (460-741) a core subject towards international Master of telephone line Administration Program at Prince of Songkhla University. The intention of this report is to create a Marketing Plan to outlines a strategy for success, and breaks it down into comprehensible, actionable components that testament enable Seoul-Roy Korean Restaurant to implement marketing activities to provide a solid return on coronation.This plan is designed to report the foreign and internal factors that volition influence the companys success in Hatyai market. The topics coers in this plan include detail synopsis, marketing strategy, tactical programs, carrying out and budgets in carrying out the marketing activities which diffe lockiate the business and product oblation from our opponent and marketing strategy that drive the business to earn to a high-pitcheder place add up profit.3 Company Summa ry 3.1 Company OverviewSeoul-Roy is a Hatyai base eating place serving Korean culinary art, the name Seoul-Roy is sluttish 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 megacity with a population of over 10 million and a leading global city in the world. Furthermore, Roy means Delicious in southern Tai dialects, to have a name meaning Delicious Seoul, conveyed the message that the restaurant having rattling high standard food. The restaurant name Seoul-Roy will surely provide an impressive memory in potential client first upshot that will attract the customer to visit the restaurant for the first time.Seoul-Roy will be operating seven days a week comprehensive public holiday in operation 365 days throughout the course of instruction to ensure that customers have the opportunity to enjoy our delicious whenever they feel comparable it. Seoul-Roy is a medium size restaurant e nhanced with cozy, soothing, fri arrestly, and appetite alluring atmosphere for patrons through itsmodern contemporary casual dine title to unearth the feeling of refreshing and energizing 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 confidential information of fresh air. The caf will feature seating for approximately 100 patrons, give up bar, water fountain and liquor bar.3.2 LocationThis restaurant is planned to be situated at the empty land on Thumnoonvithi Road, in Klong prevail area which is approximately 500 m from Tesco and Prince of Songkhla University. With hundred and thousand of local resident, university student and shoppers from other suburb visiting this area on habitual basis, it does instigate this area to be the perfect sites in town.Marketing ManagementSeoul-Roy marketing PlanFurthermore, Thumnoonvithi Road is one of the study connector among the roads on the away circuit to the Hatyai city which have high traffic concentration. In spite of this, there is ample parking dummy 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 Tesco, Big C, Lee tend Plaza and Central.3.3 2.1 ObjectiveThe objective to startup Seoul-Roy includes the following A. B. C. D. E. Become postmortem examination food franchise serving fusion of Korean food and Thai Food. Provide highest persona fresh and delicious food. Ensure that both shot in promoting Seoul-Roy brand are explore and implement. Maintain and expand every possibility to achieve outstanding reputations. Create an ideal working environs for employee in promoting good communication and great team work. F. Achieving profitable investment return between 4-6 years.G. Achieving hail daily customers of 7,000 patrons/month by t he end of second year of operation. The objectives of marketing activities include Tointroduce Korean culinary art to Hatyai community and Songkhla Province area. To attract 50% of the target market and herald potential customer. To be perceived as the cleanest restaurant in the region. To be perceived as restaurant serve delicious, quality, and tasty Korean cuisine in the region.3.4 2.2 Vision and MissionSeoul-Roy mission is to bring to the market finest, freshest, and tastiest conjugation Korean cuisine that is inspired by a combination of Korean and Thai cuisine in the Hatyai. In conjunction to Seoul-Roy high standards of quality and cleanliness will ascertain Seoul-Roy growth into a reputable premier Korean cuisine in Hatyai. The mission of Seoul-Roy includes the followingTo 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 guild are serve wi th efficiency and effectiveness.To consistently provide exceptional dining ascertain by demonstrating warmth, welcome, efficiency, professionalism and integrity in performing our duty. To ensure finest customer service experience that exceed their expectation and excited to revisit the caf again. To continuingly growing innovative and creative products that conform to customer desires. To ensure cleanliness, comfy, warmth and favorable surround in the caf. To provide appropriate training and knowledge to employee in ensuring that the qualities and services standard of the company are achieved.3.5 Startup CostThe total startup cost of Seoul-Roy for the first year of implementation is as presented in Description Facilities Design Rent Renovation Furniture Equipment Marketing disbursement Year 1 Staff Salary (10 person) Training Insurance Utilities multifarious Total (Baht/Yr) Table 1 Seoul-Roy Startup Cost4 emplacementSeoul-Roy provides differentiated products and services throug h its superior customer service experience and high quality culinary. Therefore, Seoul-Roy will position the company as restaurant offering service at 50% premium toll. The value proffer 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 evermore has a vindicated proposition of the claimed benefit for the services and products. In this, the company will always monitor the quality of the food produce toMarketing ManagementSeoul-Roy marketing Plan ensure mouth watering experience is offered to the customer and consistly communicate on the value proposition of the restaurant through advertising media.5 Situation AnalysisSituation analysis involves evaluating the situation and trends in of Korean cuisine in Hatyai City which defines and interprets the state of the environment of the institution. 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 life-sustaining issues. In portraying a clearer understanding of the situation of Korean Cuisine perseverance in Hatyai, the report further outline SWOT (Strength, Weakness, Opportunities and Threats) analysis of the organization. The situation analysis includes in this marketing plan includesExternal purlieu Internal Environment SWOT Analysis5.1 External EnvironmentThe external environment affects firm growth and profitability which also a precedent that creates threats and opportunities for firms that have major effects on organization strategic actions. The organization understands of external environment coupling with knowledge on internal environment form its vision to develop its mission and to take actions that result in strategic competitiveness and above-average returns. As shown in Figure 1, an organiza tions 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 parliamentary law that influences an industry. These dimensions can be group into six environment segments which include demographic, economic, governmental/legal, socio-cultural, technological and global. The industry environment is a set of factors that directly influences a firm and its competitive actions and competitive responses which include treat of new entrants, force out of supplier, power of buyers, and threat of product substitutes and intensity of rivalry among competitors. Understanding competitors environments complement prediction on the dynamics of competitors actions, responses, and intention.