BSBMKG401 Profile the market Introduction: In this assignment I will discuss Noodlesplace Company. The company provides products of foods and catering and is located in North Melbourne. Below is the company marketing plan. Pricing: Noodlesplace mark its price based on a meal Distribution: Noodlesplace serves customers with wide range of Vietnamese food, especially noodles. Advertising and Promotion: Company advertises in local newspapers, radio, flyers and campaign. Customer Service: Customer service is the first rule on “must-do” company list. Noodlesplace always provide outstanding customer service, as long as customers are happy, the rest would not be a problem. In the long run, the company will be benefit from loyalty customers from their …show more content…
Expected frequency of purchase: the company can estimate the number of times that a customer buys a product every week/month/quarter through survey or face to face interviews. Expected volume of purchase: the company can identify the volume of purchase through the sales dockets and customer receipts from the calculation at the end of day. How efficiently segment members can be reached with targeted communications: through questioning customers what types of promotional activities attract them to the business, we can find out the most effective marketing strategies which work well to attract the maximum number of customers. Describe each of the market segments for the company. What is the size of the market segment? Who are the consumers within the segment? What potential does it have? How accessible is the segment to the company? What are the needs of consumers for each of segments? Market …show more content…
where the services fit in the market such as high-end, competitive or a low-cost alternative to those offered by competitors. Also detail how this compares to competitors. Market position How this compares to competitors a low-cost alternative to those offered by competitors The company offer customers products at a lower price compared to other the company in the same industry The proposed targeting strategy. ease of entry: Local senior and students can easy to access the restaurant sales volume: Economic pricing target the number of customers A summary of the market segments that you have identified, as well as the consumer profile/s. Noodlesplace company market segments are: Office workers Nearby students Local seniors Consumer profile/s are: Age: 18 - 80 Education: High school and University first language: English, Chinese, Thailand, Vietnamese, Indian gender: Male and female household income: 0 - $60,000 languages spoken at home: English, Chinese, Thailand, Vietnamese, Indian marital status: Single and married nationality: English, Chinese, Thailand, Vietnamese, Indian number and age of children:0 -