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Westend Market Analysis

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Establish and adjust the marketing mix
Assessment Task 2: Project – Determine the marketing mix
(Students please note that this project is linked with your project report from the unit of “BSBMKG501B Identify marketing opportunities”. Please link your answers with each other.)
Westend Market hotel: Located at 47 McIntyre road, Sunshine. It is one the oldest hotel in the area and is widely known throughout Melbourne.
Westend provides you with the excellent leisure destination.
• FOOD – you can either dine in our brand new looking Bistro, or hang out with your mates and get hot food in our sports bar and at the gaming bar.
• REFRESHMENTS – Westend offers a wide range of beverages for all age kinds.
• MUSIC – by hosting one of the hottest night …show more content…

For the new marketing opportunity and in relation to the product or service, answer the following questions?
Product:
Who is the product or service aimed at?

 corporate clients
 individual members of the organizations
 individual members of the public
 other agencies

What key features and benefits do the product or service provide?
The westend market property is renowned for their convenient and strategic location in sunshine. Also synonymous with the brand are the high level of personal service, guests receive and the extensive range of entertainment, stay, food and leisure.
The westend hotel itself has 20 rooms and is targeting all kind of customers with a two to three night stay requirement. Majorly, targeted business includes the IT sector, because of the closeness of the property to the Melbourne international airport and the CBD.
Product or service key features Explanation
Its purpose Comfort, fun, gamble, leisure
How it works Customers
How it is developed or manufactured Food is made from the scratch fresh in the kitchen
How it is checked for quality Head chef checks every dish going out of the kitchen
How it is delivered Fresh and hot to the customers
How it is maintained and serviced Waiters deliver the food
Its price It’s very …show more content…

• Preparing a marketing plan in order to encourage newer customers.
• Looking into the pricing strategies opted by the competition.
• Reviewing available options to promote sales without compromising on profit.
• By coming up a strategy to implement the new sales prices.
• Last but not the least, reviewing all the accounts randomly.

Considering the factors above, what price should the product or service be offered at? Should any additional price variables be considered such as discounts?
• By attracting new potential customers/clients without launching a marketing campaign.
• By encouraging the existing, undecided customers to buy more products.
• By rotating the stock and clearing out the out-dated stock first.
• New sales from inactive customers.

Promotion:
What possibilities are there for promoting the product or service?

 Advertising:Advertising is the most important tool in the marketing of products and services. Companies all over the world universally accepted this fact. The expenses on advertising are considered to be a profitable investment that reaps profits both in the long and short run. Businesses that keep on advertising regardless of rise or fall in the economic times get a competitive advantage over those that cut their ad

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