• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

The purpose of this marketing plan is to outline the situational analysis, marketing objectives, target markets, market strategies and how to monitor the marketing plan of Sydney Tower Restaurants Tourism Pty Ltd.

Extracts from this document...


EXECUTIVE SUMMARY The purpose of this marketing plan is to outline the situational analysis, marketing objectives, target markets, market strategies and how to monitor the marketing plan of Sydney Tower Restaurants Tourism Pty Ltd. SITUATIONAL ANALYSIS SWOT ANALYSIS One component of a situational analysis is the SWOT analysis, which is an examination of the strengths, weaknesses, opportunities and threats of a business. The following is a SWOT analysis of Sydney Tower Restaurants. STRENGTHS * Height - Sydney tower is the tallest building in Sydney, at 300m * Staff - multi-lingual staff * Offering a unique dining experience * Two high quality revolving restaurants * Menus appealing to domestic/international diners * Top quality service * The view (location) * Sydney Tower Restaurants have several levels that cater for all the target markets * Sydney Tower Restaurants are presently an oligopoly, as their only other main competitor is the Summit WEAKNESSES * Lack of space - no way to expand * Height - people are often scared of heights, which means loss of potential customers * Location - the Sydney Tower Restaurants aren't as well known as the actual building it's situated in, hence, since it's so far up, the public may not be aware of it OPPORTUNITIES * Various promotions on special occasions (eg Valentine's Day, Mothers Day, etc) ...read more.


It also includes tour groups like schools, etc. > Level 3 (Coffee Shop by day): * Tourists visiting Observation Deck during the day, as they may require a light refreshment > Level 3 (Function Room by night): * People looking for a venue for a special function (eg wedding reception, company dinners, birthdays) As you can see, Sydney Tower Restaurants is partially an aggregate market, as it targets a mass market, but segments them in several smaller parts by the use of numerous levels. MARKETING STRATEGIES The following section outlines Sydney Tower Restaurants' game plan to achieve the specified marketing objectives. ESTABLISHING PROMOTIONAL CAMPAIGN OVER NEXT 6 MONTHS- For this objective to be achieved, all 4 elements of the marketing mix must be used. * Penetration pricing - this gives Sydney Tower Restaurants a competitive advantage, as its only competition is the Summit Restaurant * Psychological Pricing - this gives consumers the impression that the product is cheaper, therefore encouraging sales, hence promoting Sydney Tower Restaurants * Free Publicity - tourists, who make up 70% of Sydney Tower Restaurants' customer base, are informed about Sydney Tower being a main attraction in the information package displayed on their tv on the plane * Advertising - increase advertising by 10% over the next 6 months. This includes: radio announcements, newspaper, formal magazines, wedding magazines. ...read more.


MONITORING THE MARKETING PLAN Once the Sydney Tower Restaurants marketing plan has been implemented, it has to be monitored carefully, to see if the objectives are being achieved successfully, or if not, what is going wrong. To do this I would undertake the following: * A sales analysis of Sydney Tower Restaurants - I would break down the total business sales by the different levels, and for Level 1, the different products. This way, I can identify any strengths and weaknesses in the different areas of sales. Then I would compare what was expected and what occurred, therefore finding out the strategies that worked and failed. * A market share analysis - I would compare one level of Sydney Tower Restaurants to the Summit Restaurant (whichever level was the most similar), as they are the main competitor. Firstly, I'd work out whether or not Sydney Tower Restaurants share of the total market has increased, and then I'd assess our competitive position. * A marketing profitability analysis - I'd look at the cost of the marketing program and the profitability of the products, sales territories, market segments and sales people, then examine the ratios of advertising to sales, market research to sales and sales representatives to sales, so I could work out what was effective in different periods. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Marketing and Markets section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Marketing and Markets essays

  1. Business Studies Assignment Marketing

    The notes from observing the visit helped to analyze in depth the bowling alleys promotions and how popular the bowling alley is. Asking the staff questions helped to understand what and why products need updating and it also helped to have great knowledge of the bowling alley to help evaluate the marketing strategy of the bowling alley.

  2. Marketing Plan for the Targe' Full Service Spa Salon

    Target caters primarily to women customers between the ages of 18 and 50, therefore already has the foot traffic of tens of thousands of customers in each store on a weekly basis. Majority of who typically use salons for the services Target will make available.

  1. edexcel Marketing Assignment

    Now that I have completed my questionnaire, I am required to analyse my research and make judgements on the results and this is as follows; 3.3 collate information: Figure 1 Analysis: I chose to analyse this question, as it will help me find my target market.

  2. Report on Sony Corporation aims and objectives and how they relate a promotional campaign ...

    phone W800. W800 Walkman(tm) is made for music. It has an advanced digital music player, expandable memory and all you need to enjoy your favourite music wherever you are. With not only all the new mobile phones that are allowing such a concept as to have not just the ability to call people in

  1. Free essay

    Marketing Simulation Game

    Computer simulation is a learning strategy falling under the rubrics of experiential learning pedagogues (Gentry, 1991), contextual learning theory, and information processing theory. This explains the expression 'experiential learning' because the individual's cognitive understanding of what is learned is in direct relation to the context of the individual's experience (Ng, Chong, Lee, Kim, p.3).

  2. Strategic Marketing Report - Virgin Trains

    10.1 Product Virgin needs to be able to keep a SUSTAINABLE competitive advantage to allow the long-term success of the Company it will cost an awful lot to continue renewing the Marketing strategies, so a long term one would be more beneficial.

  1. Describe and examine the major components of market orientation in relation to the marketing ...

    When deciding on a product, customers consider both quality and non-quality dimensions such as price and speed of delivery. In the modern technological world, consumers have much more information available to them and the ability to ensure that their decision-making process is made as well-informed as possible.

  2. This report will define and explain the following marketing terms: Marketing ...

    and eye catching packaging to just make it stand out more so it will sell more. Product: the product is the most important part in the marketing mix. The brand of the product is important because customers like a good name on the product or even a catchy slogan or

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work