4ps in Helping Restaurant Maximise Thier Profit

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EXECUTIVE SUMMARY

The first section of this report is introduction. The introduction will explain the purpose of this report. It is discuss about three promotion strategies of the new restaurant located in Bangsar called Serai Garden. They are: advertising campaign, sales promotion and direct marketing. Beside that, this part also gives the brief introduction of the restaurant and its target market. The second section will discuss on the content of this report. The first promotion method of Serai Garden restaurant is advertising campaign. It will explain five steps to develop an advertising campaign in detail. They are: identify and analyze the target audience,defining the advertising objective, developing the media plan, creating the advertising message, evaluating the campaign effectiveness. The second promotion method of Serai Garden restaurant is sales promotion. The major sales promotion tools that Serai Garden restaurant will be using are premium offers, redeemable coupons and patronage rewards. The last promotional strategy that Serai Garden restaurant will be using is direct marketing. The major direct marketing tools that will be used are direct-mail marketing and web site. The third section is conclusion. It has been concluded that the suitable promotion methods are very important for the new business as Serai Garden restaurant. Therefore, the marketers have to be very careful when make a decision. The final section covers the recommendations part. Some recommendations for Serai Garden restaurant are use direct-email marketing instead of direct-mail marketing and provide sponsorship for some non-profit organization.

1.INTRODUCTION

Marketing is defined as a social and managerial process where groups and individuals achieve what they require and want through producing and trading products and value with others (Kotler, et al.2006). It is extremely important for a marketer to meet the needs, wants and demands of its customers in order for the marketer to attract its customer’s attention. Marketers must remember that their marketing strategy will have to appeal to hundreds of thousands or even millions of people. For a marketer to implement its strategies planning is vital. Marketers will have to analyze each promotional method and once the analysis is completed they will then choose the best methods that will help them in reaching maximum profit. This report will provide knowledge on how promotional strategy will be implemented on a new restaurant called Serai Garden, which is situated in Bangsar that falls under the category of consumer service. Serai Garden restaurant knows that it could not appeal to all of its customers; therefore, it has selected a few markets where it can serve best. The markets that Serai Garden restaurant has targeted are family life cycle, which include single to married couples with children, age ranging from 22 onwards and income due to its location and quality provided. Serai Garden restaurant has also adopted differentiated marketing as its market-coverage strategy. It will definitely help with the marketing strategy if the marketers carry out surveys on how they could attract customers and discover other ways to influence customers to actually purchase a product or service. Some of the reasons that will affect a customer in purchasing a product are by making them feel good, to satisfy their curiosity, to increase comfort, etc. A marketer should use this information to their advantage in creating a suitable promotional strategy. They should also create a promotional strategy based on the objectives of the organization in order for the organization to achieve its goals. Advertising, sales promotion, public relations, direct and online marketing and personal selling are major communication elements used by an organization which involves Integrated Marketing Communication (IMC) coordinating the organization’s promotional efforts by using these elements. The...
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