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customers. The regular customers will spread the word about the quality of service to grow the customer base substantially by the end of the first year. The next objective is to establish a customer loyalty program to maintain customers and reward them for coming back. Not Enough Thyme Catering can gather feedback from loyalty customers to find ways to constantly improve the business and meet the changing market needs. A good promotion for loyal customers to invite their friends by giving them a credit for every friend that signs up. Another feature of a loyalty program would be to provide a discount for repeat sign up. Rewarding returning customers will incentivize customers to remain loyal and encourage customers to spread the positive word of mouth marketing. A good measurable statistic would be to double the amount of loyalty customers each quarter. V.Marketing StrategiesA.Target MarketsTarget Market 1: single families and individuals who do not have time to cookand/or are incapable of cooking.Example: Busy working individuals or families who value their time enough to pay someone to make a meal for them. This group includes college students, working adults, bachelors, elderly adults, parents whose children play multiple after school activities.Target Market 2: Groups that are catering for a big event or celebration Example: Corporations and businesses that cater a lunch for training orholiday parties. In addition, small groups that are catering for celebrations including, but not limited to, birthday parties, weddings, baby showers, bridal showers, etc.
Running Head: MARKETING PLAN10B.Marketing Mix1.Products.The product that Not Enough Thyme Catering provides is a service that delivers meals by request. The valuable service provides a quick, convenient, nutritious, and affordable meal that can be delivered right to your door. 2.Price.Not Enough Thyme Catering provides an affordable meal delivered to your door. This high quality meal will have varying levelsof options that result in higher and lower priced options. Meals that are customized for any reason will be charged a small fee. The ideal pricing structure will be a price that is less than what it would cost for a restaurant experience but higher than a drive through fast food restaurant. The price will ultimately depend on the cost of the raw materials, overhead costs, and market demand. 3.Distribution.Not Enough Thyme Catering will utilize direct marketing. The business will rely on the internet and non-personal media in order to deliver details about the services the catering business offers. A smaller budget will be utilized for the distribution, because even the largest budget a small business could provide would still be a drop in the bucket compared to large corporations (Wagner, 2012).