Target audienceProduct StrategyPricing Strategy
College studentsWe will be promoting our products through sports events.Happy hours from 10 a.m – 1 p.m with a discount 15% ona bill of more than Rs.300. CorporatesFree delivery to officesCorporate discounts of 10% on bill exceeding Rs. 1000. ChildrenWe would try to attract the children with cartoon characters and distribution of free toys.
Other Strategies :
Arranging special festival events like new year, christmas diwali
Arranging navratra special food for fasting people 9 days in a year. We would earn revenue out of it. Marketing by means of pamphlets, snapdeal.
Organising events such as kitty parties, birthday parties and small get together(max 100 people) Can arrange for stalls in college fests
To provide low fat food @ reasonable cost.
We would distribute shirts to orphanage children free of cost Would arrange for food free of cost for orphans once a year. Creating awareness through waste bottles.
1.Action Programs :
•To get the pamphlets printed and distributed along with the newspaper. •Advertising through digital media (snapdeal, TV ads).
•To approach different malls, airport, corporates for exclusive stalls. •To organize CSR activities twice a year.
•To appoint an SEO so that the people surfing internet who are in search of good food joints find BFC as the number one option on any search engine page.
Amount spent on different activities(Yearly):
Pamphlets : 10000
Sponsorships : 10000
Recycling/Reuse Waste bottles + Online marketing : 57000
T-Shirts for Orphanage : 7500
Total expenses : 84500
Revenues Earned :
Kitty,birthday : 30000
Navratra special: 15000
Pamphlets : 1.5 lacs for every one fourth customers attracted Total earned : 1.95 lacs
Total turnover monthly : 6 lacs
Yearly turnover = 72 lacs
Profit = 30% = 1.8 lacs
Marketing expenditure : 84500
Total profit after exp = 95500
Estimated Profits : 110500
Projected profit : 206000
Total expected turnover = 6.2 lacs
Expected Yearly turnover = 74.4 lacs
1.SWOT analysis for the company
•Located at prime location.
•Separate Kitchen for veg and non veg.
•Serve multicuisine food.
•Lodging facility. This adds to an advantage over its rivals like KFC.Weakness •Unprofessional staff.
•No marketing Strategy
•No CSR activities.
•Haven’t explored other opportunities like corporates, malls etc. Opportunities
•Different events like parties.
•Stalls in Corporates, Malls, airports.
•Other food outlets who are into same business of serving fried chicken(KFC, Chicking). •Other fast food joints like Pizza hut, Dominos, Mc Donalds, CCD, Barista.
Market Research :
BFC’s market research would help in understanding the customer tastes and choices. Moreover it would also help in filling up the voids present in BFC and to build upon the strengths and the opportunities. BFC’s brand awareness research would help in determining the effectiveness and efficiency of the marketing strategies used by BFC to create awareness amongst the consumers. BFC in turn would also take the customer satisfaction survey to analyse and understand the market reaction.
1.Define the Problem :
BFC as a new brand has been facing tough times to establish itself as a well known food chain. The main issues that it has been facing are : 1.Less number of outlets (only 2, one in HAL and other in HSR Layout). 2.Low visibility because of no marketing strategies being followed. 3.Food quality not up to the mark.
4.BFC faces tough competition with biggies like KFC because of the similarity with the KFC’s logo and the menu. 5.Because of the above mentioned...