The Art of Marketing
The marketing process is usually involving and at the same time, challenging. As such, a marketing consultant must focus on marketing its product by using the four Ps of marketing since they have proven to be sufficient to all the people who have used this method before. Ideally, marketing is essential in that it aids in creating awareness of the products that a firm is selling. Typically, an analysis of the four Ps of marketing is likely to shed light on the essentiality of marketing. In this analysis, each aspect of marketing will be addressed exhaustively, enhancing the ability to understand the concept of marketing.
Product: Tiang Shen Yu: The product is an essential component of the marketing mix. Most importantly, the product can either be a tangible or intangible item. The product must be created in such a manner that meets the needs of the consumers. Arguably, it is at the product that the quality is measured, and the impressions that the consumers of the product get are a reflection of the brand image. Since our business idea is establishing a restaurant and there is already a determined competitor who brings to the masses kales and quinoa, we must come up with something totally different from the products offered by the other restaurant as such, we decided to serve Tifu since it was a healthy vegetarian diet and at the same time, it provided many health benefits that are applicable to the community members. The Tofu is likely to sale because it is sweet, and it is also a vegetarian diet that is a contributor to the establishment of good health.
Price: Yu Ji: The price is yet another critical determinant of the success of a business operation. In this sector, the primary purpose will be to establish a brand name, the design through which the product will be served, and the packaging that will attract the eyes of the consumers. Making the price decision will take in factors such as the cost of production, the price set by competitors, and the average income of the target market. After conducting research, I came to settle on the price to 5.34 dollars. This price is inclusive of the cost of production as well as the health benefits that come with taking this food. This business plan will use value-based pricing since most benefits come with consuming the Tifu as opposed to feeding on meet.
Place; This is the process that determines the channel that will be used for distribution. When distributing a product, a marketer must evaluate the needs of the consumers in terms of the availability, the location, and in cases of urgency. In marketing terms, the place is always referred through the phrase of putting the right product at the right price in the right place. In the case of the restaurant, the best place will be the already established restaurant, making the food available at this point where the customers are assured of comfort.
Promotion: Ren: Xi: this step generally involves creating awareness and encouraging the customers to but the food. Ideally, there are many ways through which promotion can be done. The most common method that is common in making promotions is advertisements, and through this step, a product gains popularity among the target market. In our case, for instance, I am planning on using the traditional method of promotion in which we list ads in magazines and journal articles and local newspaper articles. Since most of the people in this community read the newspapers, it is the right method of reaching as many people as possible.