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The scenario of this project is based on a small organisation as Kelvin Café & Restaurant that provide quality products and services its customers. Now the firm wants to expand its market share but they do not have specific knowledge of it. Thus they need to construct an analysis as:
- Describe the role of marketing and an application of marketing mix in Kelvin Café & Restaurant.
- Evaluate the objective of market research in Kelvin Café & Restaurant as well as analysis of marketing tools.
- Determine the use of e-marketing and state how different organisation can manage their online presence through it.
- Explain the process of application of market analysis techniques in Kelvin Café & Restaurant.
Marketing is considered as an activity through which it enables consumers to purchase their products as per their needs and wants. This is basically a process in which it includes advertising of products so as to increase its sales and profitability is done. In this report, company that is taken is of small business that has launched their business 6 months ago is Kelvin Cafe & Restaurant. This report will give an overview about marketing strategies through which the can gain maximum benefits (Lefebvre, 2011). Along with this, research of market is being done in order to make aims and objectives so that they can attain their desired targets in speculated time frame. Further, different marketing techniques are being done for implementing them in further business operations.
1.1 Diverse activities carried out in marketing department
For increasing sales it is essential that company incorporates best marketing strategies or tool so that they can sustain a better position at market area. Thus, by delivering excellent services it assist Kelvin Cafe and Restaurant in maintaining a better relation with customers and other sources as well. Therefore, marketing department plays a crucial role in organising the task in an effective way. Other than this, department of marketing assist company in improving sales and profitability. Below some of the points are mentioned that helps department of marketing in establishing business in an effective way:
Builds a relationship with audience: Manufacturing or producing goods is not the only task that is to be performed by company what important is to establish a better relationship with consumes. Therefore, it can be attained by producing commodities that are according to the needs and wants of customers. Thus, it will help them in grabbing attention of maximum number of people as a result it will increase sales and profitability.
Participation of customers: Through this, company try to engage customers by producing commodities according to the choices and preferences of consumers. To make this possible Kelvin Cafe and Restaurant is evaluating feedbacks and reviews as a result it is assisting them in identifying current trends that are available in the market (McClements, 2015). Furthermore, through this they are formulating strategies and plan of action according to the situation and circumstances.
Create more and more income: Most of the organisation establishes business in order to generate revenues so that they can expand their business effectively. Therefore, by manufacturing goods according to the needs and wants they are gaining maximum profit as a result it is expanding customer's base in different parts as well.
1.2 Market Segmentation
Market segmentation is an effective tool for attracting a large number of customers in respective area. Further company divide market area into different segments on the basis of age, gender, class etc., Therefore, entire process of marketing segmentation is explained below:
Segmentation: As market environment provided in London is very good and it has given freedom to its retailers in providing services and facilities as per their choices. Therefore, in terms of demographic they have classified and delivering goods accordingly.
Targeting: Kelvin Cafe and Restaurant, has considered all group and sectors of people and they are producing food items as per its clients (Lees-Marshment, 2014). Firstly, they are targeting local customers and manufacturing goods accordingly as a result during its initial years they have win loyalty of customers.
Positioning: Kelvin Cafe and Restaurant in their initial years were not getting any success but gradually after optimising all the sources through which they can get maximum results are now in a better position. Gradually, an increase in sales and profitability at the same time.
1.3 Marketing mix
Marketing mix is used by most of the companies in order to increase profit margin, this helps them in considering the entire factor that are important to be considered which are called as 4Ps and it includes product, price, place and promotion. In context with Kelvin Cafe and Restaurant they are using this concept just to have an idea about what kind of marketing strategy will give them maximum benefits. 4Ps points are explained below:
Product: Firm that is mentioned in this assignment is famous for providing their best cold coffee by making innovation by adding different flavours to it (Meindl, 2012). This is one of the beverages that is popular in that particular area where Kelvin Cafe and Restaurant has established its business. Therefore, shop is giving excellent quality foods and beverages.
Price: This is considered as an important element in context with people. So, company must set those prices to which customers can agree to pay for. Therefore, in terms of Kelvin Cafe and Restaurant, they have fix cost those are very reasonable and during weekends they are offering discount coupons. As a result it is attracting more and more customers towards their shop and an increase in sales and profitability can be seen.
Place: Kelvin Cafe and Restaurant has established their ventures in busy place of London, thus, it is assisting them in delivering their products to different parts as well by using online process. Other than this, customers can buy their products from the stores that situated at their near places. Henceforth, to their prime and premium customers they are giving quality services and people are enjoying the same.
Promotion: Latest technologies have enable Company in promoting activities in an effective manner. Therefore, Kelvin Cafe and Restaurant has given advertisement in various mediums through which they can be in reach with its customers. Along with this, it will help them in grabbing attention of maximum number of customers.
2.1 Aims of research and market analysis
Before launching or establishing any business it is essential that an individual have proper