Spa Restaurant Name: Institution: Course: Tutor: Date: Spa and Location Characteristic Core Competencies Awareness Destination Spas

Running head: MARKETING PLAN 1






Spa Restaurant
Name:
Institution:
Course:
Tutor:
Date:






Spa and Location
Characteristic
Core Competencies
Awareness
Destination Spas. Sydney


Lavish and situated in the city outskirts.
Stylish, unique pools and excellent customer service.
Billboard advertisement
Ayurveda spas South wales
Unique spas designed to suit different customers of different tastes and preferences
-Excellent customer service.
-Affordable rates.
Radio advertisement and billboards
Resort Spas
Brisbane
Comfortable and spacious spas situated at an eye-catching serene.
-International cuisine.
-Strategically located
Radio, website and billboard advertisements.

One of the objectives of the Spa business is to achieve growth in a sustainable and ethical manner. To achieve this objective, the business has to develop various action plans to provide direction and the path to take .These action plans helps to move from where things are now to where we forecast them to be.


Action Plans
Product Plan
Being in the market for 25 years the company's' products must be considered as strong brands. To further strengthen the product, the brand manager needs to ensure modification of the structure and outlook of the product to provide different variety of attractions to customers. It is observed that companies that alter or modify the outlook of its products over the years tend to retain and attract new customers (Bertoli & Resciniti, 2012). As a business of luxury and comfort, the designer must ensure unique and comfortable pools with stylish decorations. This may include, instead of glass cover the company should use mica. This proves to be stylish, unique and comfy.
Price Plan
The primary price objective is to ensure customers are comfortable with the current levied prices and will most likely adhere to future changes. This is effectively implemented by aiming at small profit margins per person in order to attract potential customers and retain the existing ones. This might be the greatest challenge to the spa business due to high running costs of the business. However this can be solved by cost cutting strategies such as, recycling of pool water to reduce wastage, offering discounts to frequent customers, setting different prices to different market segments in regard to social class and location. This pricing strategy is efficient in that, high returns from one market segments may help in funding activities of other market segments with minimum sales and profitability.
Promotion Plan
In today's economy, no matter how strong the brand is, with no or minimum promotion, most likely it will not to survive in the current competitive business world (Pride& Ferrell, 2007).This has forced business to dig deep into their bank accounts to fund product promotion and marketing. However, although covering a wider scope of the market, mainstream media has been considered as too expensive therefore the business should recommend other instruments. Nonetheless print media and radio will effectively reach wider scope of potential customers. The marketing manager may use other cheaper avenues such as website and social media to directly link with new and old customers.
This strategy is considered effective since it's similar to direct selling where the company gets direct feedback from the end user of the product. This may facilitate the company in developing future products and offer services according to the customer desires and preferences. Company marketers must ensure proper financial plan for promotion so as the cost of promotion should not exceed the budgeted figure. Other avenues which should as promotional strategies may include organizing events and sporting activities. This helps creating awareness of the business and its products.
Expansion plan
A study conducted by Ross (2004) and Verma (2008) suggested that all successful brands are always available when the customer is in need. This illustrates clearly that availability is a great aspect regarding to companies growth. Furthermore, the general manager should ensure sustainable expansion plans by ensuring new restaurants are set-up in areas that most likely would easily attract customers. This may include areas of high temperatures so as to be attracted by the pools. They may also be placed in areas of extreme low temperatures but ensure the place is warm and the customer wont freeze inside the pool.
As a growth strategy, the company should prospect future growth and strive to venture into new markets that offer great opportunities such as, alongside parks.
Endless Spas and boathouse restaurant main objective is to grow in a sustainable and ethical manner. Therefore all its activities should be ecofriendly and not hazardous to the environment. Customer satisfaction is of great importance as we all know "Customer is the most important pillar in any business'' (Cochran, 2003). To achieve substantial growth, the customer should be highly respected and needs met on time.
Moreover, the human resource should ensure an effective method hiring personnel at different levels. Only and qualified competent applicants should be shortlisted. The right working personnel tends work towards achieving long-term objectives of the business. Incompetent staff members tend to offer poor services thus scaring the customers away. Hygiene is of great importance in all areas of the restaurant. Customers tend to be attracted to clean places thus maintaining high standards of hygiene is a must not an option. (Lelieveld, 2003).
Budget Profitability Analysis
To facilitate the above action plans, we need to project the budget profitability analysis. This is attainable by forecasting the revenues and expenses. Profitability analysis allows the business to create budgets for promotional purposes. (Gibson,2010). Below is a table to show the budget profitability ratio.







BUDGET PROFITABILITY ANALYSIS
PVehicle


July
Aug
Sep
Oct
Nov
Dec
TOTAL
COST
PROJECTED
REVENUES
PROFIT

Advertising


15000
15,000
15,000
15,000
15,000
15,000
90000
120000
110000

Re-branding


6000
-
-
6000
-
-
12000
25000
13000

Personal Selling


1,000
1,000
1,000
1,000
1,200
1,500
7200
20000
12800

Events


-
-
20000
-
-
30000
-50000
-150000
100000

Sales Promotion


5000
5000
5000
4000
4000
3000
24000
40000
6,667

Direct Marketing


1500
1500
1500
1500
1500
1500
9000
15000
6,000

Website design


-2000
-
-
-
-
-
2000
20000-
16000

Misce.


-
-
-
-
-
-
-
-
-

Total £








182200
40000
217800


After implementation of the action plan and budget profitability analysis, percentage profit is estimated to be 110%.

References
Bertoli, G., & Resciniti, R. (2012). International marketing and the country of origin effect: The global impact of 'made in Italy'. Cheltenham: Edward Elgar.
Godin, N. (2006). Selling in the comfort zone: How to grow your business without the rejection and stress of traditional selling. Victoria, B.C: Trafford.
Krause, M. D. (2011). Sell or sink: Strategies, tactics and tools every business leader must know to stay afloat!. Bloomington, IN: Authorhouse.
Pride, W. M., Pride, W. M., & Ferrell, O. C. (2007). Foundations of marketing. Boston: Houghton Mifflin
Top of Form
Ross, D. F. (2004). Distribution: Planning and control: managing in the era of supply chain management. Dordrecht: Kluwer Academic Publishers Group.
Bottom of Form
Co.
Top of Form
Verma, H. V. (2008). Services marketing: Text and cases. India: Dorling Kindersley.


Cochran, C. (2003). Customer satisfaction: Tools, techniques, and formulas for success. Chico (California: Paton Press.

Lelieveld, H. (2003). Hygiene in food processing: Principles and practice. Cambridge: Woodhead.

Top of Form
Gibson, C. H. (2010). Financial Reporting and Analysis: Using Financial Accounting Information (Book Only). S.l.: South Western Educational Pub.
Bottom of Form
Bottom of Form

MARKETING PLAN 2

[Section Purpose:
Summarize key marketing and communications objectives
Outline strategic approach to communications
Identify potential challenges]