Hello I am working on a Marketing plan with my Classmates we are Team 1 CateringI need parts 4 and 5 complete This is the assignment Class,Most of the assignment is done but the last part isnt complet
Top Choice Catering Market Plan 2018
Willie Murphy
Cathy Graham
Lana Harrington
Leandra Denson
Travis Alston
Owners
Top Choice Catering
217 Hay Street
Fayetteville, N.C. 28301
Top Choice Catering
Marketing Plan
Prepared: 25 February 2018
The Business
Business Name: Top Choice Catering
Business Location: 217 Hay Street, Fayetteville, North Carolina 28301
Date established: November 2017
Business Owners: Travis, Alston, Leandra Denson, Cathy Graham, Lana Harrington and Willie Murphy
SWOT Analysis
Strengths | Weaknesses |
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Opportunities | Threats |
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SWOT Activity Sheet
S.W.O.T Weakness/threat | Activity to address weakness/threat | Activity completion date |
Limited funds to sustain the first year | increase business making it possible to get additional funds. | November 2018 |
Our products and services are already being offered in the market. | Change the menu, if required. | June 2018 |
Intense competition between competitors can drive down prices. | Continue to provide excellent product and service at reasonable prices. | November 2018 |
As the business grows, our current location may be inadequate to sustain operations. | If business continues to grow, look for a location that can handle expansion. | December 2018 |
Products/services
Product/Services | Description | Price |
Top Choice Catering no party is too big or too small for us American Cuisine Menu | Supplying the customer, the event they dream of Complete customer-driven menu | Based on the customer’s needs and wants Based on the customer’s needs |
Market position: Our products/services can range from the bottom to the top of the scale. Prices are competitive in the marketplace. Even though prices compare with our competitors, we are slightly cheaper.
Unique selling position: We offer top of the line products at a cheaper rate. Our services are unparalleled because we can sponsor the entire event, including advertisement and equipment.
Anticipated demand: We anticipate a market-share or need of at least 10 percent to 20 percent of the market. What that equates to is a projected sales forecast for our first year of business is approximately $515,000.
Pricing strategy: We come into the market with a Penetration Pricing Strategy. Our goal is to capture market share with low pricing.
Value to the customer: They view our products/services as something between luxury and necessity. Something that's great to have, but not entirely required.
Growth potential: Our future goal is to be one of the most extensive catering services in North Carolina by increasing our sales 5% annually.
Competition: We have the capable of deploying last-minute to any location in North Carolina, while keeping our rates for services competitive with other caterers in the areas.
Besides offering top-notch services at a reasonable rate, we also offer a list of available supporting equipment that’s designed to support any event.
Sales/marketing personnel
Job Title | Name | Responsibilities |
Marketing/Sales Manager Catering Manager Executive Banquet Chef Catering Sous Chef Catering Sales Manger | Lana Harrington Willie Murphy Travis Alston Leandra Denson Cathy Graham | Accomplishes business development activities by researching and developing marketing opportunities and plans; implementing sales plans; managing staff. The Catering Manager for Top Choice serves as the face of the brand – providing leadership to our operations. He is responsible for business development and is expected to deliver and ensure profitability, manage and motivate staff and resources, service standards and the guest experience. Our Executive Banquet Chef can balance being creative while ensuring the delivery of standard menu items. He provide the training, coaching and leadership to the kitchen staff, as well as work with other managers to ensure a successful overall operation and an excellent experience for both guests and staff. The Catering Sous Chef works alongside the Executive Banquet Chef to manage daily kitchen activities; including food preparation, management of staff, ensuring food quality freshness and safety, the execution of tastings and monitoring and ordering food items. The Catering Sales Manager work one-on-one with our clients right from the start to plan their weddings, social events, bar and bat mitzvahs, as well corporate events and fundraisers at a variety of unique and unusual event venues and locations in Fayetteville and beyond. |
References
Robert D. Reid, David C. Bojanic, (2010), Hospitality Marketing Management 5th edition, Hoboken New Jersey, Johns Wiley & Sons, Inc