Business Ideas Assignment Sample

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Introduction&nbsp

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• Business marketing strategy
• Marketing theory and model (Halim et al. 2019)
• Various tools for digital marketing

This presentation is addressing the marketing strategy of the business. Restaurant business strategies and marketing development with the help of digital marketing are stated in this presentation. Some marketing theories, models, and frameworks are mentioned that will be helpful in the business strategy. Various tools and platforms that are useful for marketing in the digital segment are also narrated in this presentation. For business growth, those important factors need to be understood. All of these aspects are discussed in this presentation. 

S.2. Marketing theory and model 

• Marketing theory and model help to define the business
• Those theories help in the growth of the business (TM et al. 2019)
• Seven Ps of Marketing Mix theory applied in the restaurant business

There are several marketing theories and models and all are useful for any business strategy. Some theories such as Porter's Five Forces plan, Swot analysis, Maslow's Hierarchy theory, Seven P's of the marketing mix are practically useful. Those models clearly define the current position of the business in the market and also help to define the growth process of the business. In this presentation, the Seven Ps of the marketing mix is taken and analysed for the restaurant business purpose.

S.3. Analysis of making marketing decision 

• Seven P’s formula with seven elements
• Helps to keep on track (Mashika et al. 2021)
• Helps in achieving the resulting maximum

The seven Ps of the marketing mix is concepts that was first recognised in the year 1960 and at that time the Ps originally were - Product, promotion, price, and place. This was the original and first used marketing campaign. Later this marketing theory expanded to the seven P's and the additional factors were physical evidence, processes, and people. This theory allows the users to use and create campaigns for businesses and services. As the customer, products, and market change rapidly one needs to regularly check the seven P's to keep the business on track. 

S.4. How chosen theory applied to the business 

• The product of the business needs to check daily
• If people are liking the dishes need to check (Dogru et al. 2020)
• The price of the food should be suitable

Products of the business such as the dishes are needed to have a look after finishing those. Whenever there will be fewer sell one needs to understand the assessing habitat and need to find out the problems with the production. "The dishes or products that are offered are what people are liking or not" compared to the competitors. All the products are superior or not all, are need to be found out. Second P is the price. The business owner needs to develop a habit of examining whether the price of dishes is suitable for the customer or not, especially compared to the competitors. 

S.5. Why chosen theory applied to the business 

• According to NAKKHUI,(2019), Promotion need
• Place and physical evidence or packaging should be done with skills
• Process and apple are important factors

Third P is the promotion which includes the dramatic promotion of the goods and services so that people get to know better about the restaurant. Place refers to where most of the foods are getting sold. Physical evidence or packaging is the fifth element that needs to be done with full of skills. Next, P is the process, the process of the making of dishes needs to follow the same routine so that the restaurant will be better known for its quality foods and the last P is the people. 

S.6 Various tools and platforms used in digital marketing 

• Promotion in social media is helpful (Shcherbakova, 2020)
• Website blogging is one of the best ways to promote
•  Other platforms such as Facebook, Instagram can be used

The business of the restaurant needed popularity so that people would be aware of it. This awareness can be done with the help of digital marketing. Nowadays social site platforms are important factors so it will be praised if the promotion is done with the help of social media. Such as Facebook, Instagram, and Website blogging are some famous social media platforms, 

S.7. The benefit of digital marketing 

• A digital platform that provided the most success in the time of the pandemic
• As per the view of Gupta, (2019), It helps to order food easily 
• No manual help need to choose their own food

A digital marketing strategy is very helpful to any business. During the time of the pandemic, people were facing lockdown but food is the most essential thing that people need every day. So it was only the digital platform that provided the most success in those days. So to get improvement in restaurant business digital marketing iis one of the important parts that is required nowadays. 

S.8 How the business uses digital marketing

•  uploading their menu card with the price 
• New dishes are uploaded on website (Hrosul et al. 2020)
• advertising about the restaurant

Restaurant businesses used the digital platform by uploading their menu card with the price so that customers can easily choose their required food. New dishes that are upcoming need to be uploaded on a specific website of the restaurant, so this will attract more customers. Digitally advertising the restaurant will let people know about the restaurant. Here people are the customer as well as the inside worker team. Internal workers support makes the business successful. 

S. 9 Impact of digital marketing on the business 

• According to Shcherbakova, (2020), Easy to choose food
• Easy to home service
•  Easy to sell products

Digital marketing helps the people to know about the foods of the restaurant. People always want better services and if they get better services stick to it so it is mandatory to give better performance especially to the place where the products are selling. Most people seek easy services and home delivery which helps them. 

S. 10 Conclusion

• Restaurant business marketing with help of marketing theories
• Seven P’s formula applied
• Digital marketing platform most helpful

This presentation presented the requirements of a restaurant business. Marketing theories and models such as Seven P’s formula is proven to be helpful for the marketing strategies. Digital marketing in today’s life is the most successful platform where people and the business can directly interact. Helps people to get their foods easily and helps the restaurant to sell their products easily. 

References

Dogru, T., Kizildag, M., Ozdemir, O. and Erdogan, A., 2020. Acquisitions and shareholders' returns in restaurant firms: The effects of free cash flow, growth opportunities, and franchising. International Journal of Hospitality Management, 84, p.102327.

Gupta, M., 2019. A Study on Impact of Online Food delivery app on Restaurant Business special reference to zomato and swiggy. International Journal of Research and Analytical Reviews, 6(1), pp.889-893.

Halim, K.K. and Halim, S., 2019. Business intelligence for designing restaurant marketing strategy: A case study. Procedia Computer Science, 161, pp.615-622.

Hrosul, V., Kalienik, K. and Kreituss, I., 2020. Formation of competitive strategy of restaurant business enterprises. Monograph.

Luo, Y. and Xu, X., 2019. Predicting the helpfulness of online restaurant reviews using different machine learning algorithms: A case study of yelp. Sustainability, 11(19), p.5254.

Mashika, H., Kudrina, O., Nurgaliyeva, A., Berkova, O., Metil, T. and Novichkov, V., 2021. Competitiveness of hotel, restaurant and tourism business: factors and tools. Geo Journal of Tourism and Geosites, 36, pp.681-687.

NAKKHUI, N. and ROONPHO, P., 2019. THE PATTERN AND BUSINESS STRATEGY CASE STUDY KHUN TIM YENTAFU SONGEKRUENG FRIED SHIMP RESTAURANT, AMPHOE BAN PONG RATCHABURI PROVINCE (Doctoral dissertation, Silpakorn University).

Shcherbakova, E., 2020. Importance of Diversified Marketing Strategies for Fast Food Restaurant Chains. Available at SSRN 3738461.

TM, A., Kaur, P., Ferraris, A. and Dhir, A., 2021. What motivates the adoption of green restaurant products and services? A systematic review and future research agenda. Business Strategy and the Environment, 30(4), pp.2224-2240.