Welingkar Institute of Management Development & Research PGPMS -22
Marketing Project TIC Thakur InterContinental
A Haven of Fun & Frolic
Where is TIC?
* TIC which started as a mere as a Roadside tea shop has now evolved into a well known Food Joint ‘Thakur Intercontinental’ * Thakur is an opportunist who knows what to add to his business and when to add it. * He has a very friendly nature which allows him to get along with all students. Students who are away from home feel very comfortable in this environment. * He acts like a family member and a friend and is always present in time of need. * His knowledge on various aspects of the society was commendable often getting into healthy arguments with the students. * He has been able to run his business with stability and has always tried new ideas to keep his business growing. * It is now the correct time that Thakur takes his business to a next level with innovative ideas and business management techniques.
* No Competition in the vicinity
* No compromise on the quality of the foods.
* A very good customer oriented approach.
* Connect with the Customer.
* Multiple Value added services for e.g.:- Home delivery and Late Night Food services. * Multi Faceted personality. E.g. Good PR skills, people friendly. * An Opportunist. Tapped every Business opportunity.
* Master every art.
* Monopoly of his business.
* Credit Facility:- Unlimited credit facility could be harmful to his business which could turn out to be a bad debt. * Limited focus :- which in turn resulting into limited customer based.. * Lack of funding
* Very limited Management Skills.
* Small Place
* Vacation Planning:- He need to come up with backup plan to earn money during the vacation period.
* Tiffin services
* Distribution of food product in the badi market.
* Catering services.
* General stores/Xerox & stationery.
* Expansion of the Business/ Creating Brand TIC.
* Confiscation of land.
* One set of target group.
* Dependency on the University.
* If the food services as the mess is improved them it would impact the business of TIC.
* Changes in Government rules and regulations.
* Competition in the vicinity.
Where you want to take TIC ?
Where you want to take it?
We are looking at very realistic targets which would include the below: * Short Term Goals
This includes mostly sticking to basics and being realistic. Tiffin Services, Distribution Services is to be able to survive, increase customer base, making him a known name and increase his contacts. * Mid Term Goals:
Starting Catering services will enable Thakur to have an increased penetration in the market and make him a house hold name. Also the profit margins in this business is very high * Long Term Goals
This is to create a brand TIC in the market. This will be similar to Haldiram’s with products being sold all over India in various Outlets. * To survive in the changing market environment and to consistently run the business in profit. * To combat any competition at hand.
* To have the maximum market share.
* To be the preferred place to hang out in.
* To convert his tea stall into Tiffin services, Food distribution and a general store with all college stationary.
How will you take it?
* He should play on his strengths i.e - the loyalty factor, and his quality. * TIC is his comfort zone and he needs to venture out of his comfort zone to achieve greater success. We can start with new businesses which would low cost and higher profit margins. Tiffin Services :
* Food has always been one the USP’s of TIC.
* His food is home made and provides good variety at reasonable prices. * He can start providing Tiffin services...
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