Transcript Marketing
Marketing Chapter 18 Value of Marketing • Until recently, marketing was not recognized as a valuable function in noncommercial settings • Foodservice facilities can play a valuable role in attracting and keeping customers – Producing good quality food – Offering excellent service – Increasing customer awareness Marketing Mix Four elements of a well defined marketing program: • 4 P’s of marketing – Product – Place – Price – Promotion Marketing Mix 4 P’s - Seller • Product 4 C’s – Customers • Customer value • Place • Convenience • Price • Cost • Promotion • Communication The Marketing Plan • • • • • • • • Step 1: Identify the Product Line and Target Market Step 2: Conduct Market Research Step 3: Set Goals and Objectives Step 4: Determine Major Strategies Step 5: Develop Action Plans and Assign Responsibilities Step 6: Establish a Financial Reporting System Step 7: Measure and Evaluate Results Step 8: Enlist Support Activity #1 – Inlet Isles Case Study • Read the scenario for problem 5 on pg 32. • Complete the following activities: A. What marketing opportunities exist in this operation? B. Select a marketing opportunity and develop a marketing plan? Marketing Strategies • Easier to sell to a satisfied customer than find another customer • 5 times more to attract new customers • Stages to strengthen customer relationships – Satisfy 1st time customers – Build personal relationships – Form partnerships Marketing Strategies • Concentrated Marketing • Differentiated Marketing • Undifferentiated Marketing Social Marketing • Attempts to influence the acceptability of social ideas, attitudes and lifestyle changes for the benefit of the person or the public. Activity #2 – Select one advertisement 1. 2. 3. 4. 5. 6. Describe the ad. Where was it located? Who is the target audience? Was the placement of the ad likely to reach the target audience? Describe any social marketing in this ad. If there is no social marketing message, could one be added? 1. 2. If yes, what would it say? If no, why not? Marketing for Foodservice • Unique aspects of foodservice – Service industries such as foodservices differ from most manufacturing industries in product, customer contact, perishability of inventory, and distribution • Product: tangle and intangible components • Customer Contact – Each contact represents an opportunity for the foodservice not only to market the food product but the organizational image as well Marketing for Foodservice • Perishability – Food is highly perishable and difficult to store in inventory • Distribution – Food must be prepared in advance, held either hot or cold, and transported – Maintaining food quality is important for customer satisfaction Branding • Branding is a paradigm shift referred to as the commercialization of noncommercial operations • Noncommercial foodservice operations are now viewed as a revenue center not a cost center Types of Branding • Retail-item branding (manufacturer’s branding): – Sale of nationally recognized items in existing foodservice operation • Restaurant branding: – The inclusion of a national restaurant chain in an existing operation • In-house or signature branding: – Items prepared within a specific foodservice operation and identified as unique to that operation Branded Concept • A complete marketing package that communicates a recognized and consistent brand identity to the customer • Components: – Point-of-Sale Environment – Management Resources • Purchasing assistance, production tools, service suggestions Branding • The growth of branding has come due to the psychological phenomenon that customers are willing to pay for PERCEIVED quality and value • Outcomes from Branding – – – – Increased volume of business Increased per-capita spending Increased revenue Increased cross-over traffic to in-house brands “Good Marketing Can Change your Life” • “Having educational credentials, good products or services and licensure will not make clients flock to our doors.” • Sell yourself Activity #3 – Marketing a Product • • • • • Evaluate potential target markets for your product. Select a target market for your product. Explain your rationale for the selection. Determine the target market’s needs as related to your product. Tailor the product to the target market. Describe how you would market the product to the target market. Include the four components of the marketing mix in your discussion.