Marketing for every industry has an important role in order to deliver their products and services to the right target. Whether traditional marketing or e marketing has a same purpose which is deliver the products and services to the users.
Nowadays, the business more prefer to adapt e marketing in order to achieve their customer’s easily also reducing the cost. In this paper, the author will review on how “The Restaurant” will enter the market by using SWOT analysis, Ansoff Matrix and Porter Five analysis as well.
In order to open the new business a company needs to identify and analysis the customer need, target segmentation, opportunities and threat. ...view middle of the document...
By focusing on market segmentation it also help the company to improve their competitive position.
The advantages of market segmentation are to have a clear picture about the target, return of pricing, distribution and advertising management. Moreover, the business partner of Musa who handling the advertising and promotion has no experiences in IT field.
In order to build the relation with the customer, the company needs to implement marketing that helping the company to do segment market, differentiation and positioning. Beside that also e-marketing strategy (e-CRM) need to be used as one of the strategy in order to enhance their market position within industry.
Target market for the Restaurant
The marketing objectives of the company are derived from the understandings of what the company is doing to achieve its mission statement with in the market constraints. The company cannot influence the environment in which it works, so it has to change the marketing strategy ,shift market place, and launch new product to new target market. (Bickerton et al,2000).To identify the consumer grouping, the market can be segmented into four main groups namely Geographic, Demographic, Psychographic and Behavior ) Market segmentation is a effective strategy for reaching the fragments of a mixed up market(Pincus,1999).Considering geographic segmentation, The Restaurant its market as local(Malaysia). The target market will be:
• Local Population: Bukit Bintang is one of favorites place to hang out in Kuala Lumpur.
• Tourism: between hotels, motels, bed & breakfast rooms and inns, there are over 8,500 rooms available in Bukit Bintang area.
• Local Businesses: many offices that operated in Bukit Bintang area.
In order to creating a successful marketing, “The Restaurant” needs to tools that able to help the company to in mapping their marketing strategy. Marketing mix (4P) is...