Scenario: Tony is the owner of Tony’s Pizzeria, which is located in the city clo

Question

Scenario: Tony is the owner of Tony’s Pizzeria, which is located in the city closest to where you live. Tony created a market research survey to help him better understand his customers and summarized results in the analysis provided here.

Tony has now hired you to summarize the basic components of a marketing strategy for his business.

1. What is Tony’s competitive advantage against his direct competitors (other pizza restaurants) and indirect competitors (other restaurants)? Is it his product quality? Is it the restaurant atmosphere? Location? This needs to be identified?

2. Please Provide 3 SMART goals which are Measurable, Specific , Achieveable and Time Bounded?

2. Which Growth Strategies from these should used (Market Penetration, Market Development, Product Development, Diversification)?

3. Each of the 4 Marketing Mix must be discussed. For instance, discuss the product. Discuss Pricing strategy. Discuss how you will promote the Pizzeria, Discussion Place (location) and how the products will be distributed to customers?

Please answer this ASAP in detail.

Thanks

Explanation / Answer

The competitive advantage of Tony's pizzeria is its location. It is situated in the city center wherein customers are willing to visit the pizzeria. It has an added advantage compared to its competitors. It also has the advantage of unique Italian pizzeria vibe and quality. People usually tend to prefer pizzeria that has a unique vibe to it. The restaurant offers the taste of unique Italy through its authentic Italian pizza menu and ambience of mini Italy.

2. The smart goals of pizzeria are as follows

Increase the sale and revenue in the market

Increasing the market share by 10 percent in the next 12 months

To increase the customer awareness and building the existing loyal market

To create a unique and innovative promotional campaign

Maintaining excellent standards of good quality

To increase the profit and sales of the pizzeria business

To cover the cost of startup

3.The growth strategy will focus on covering the important strategies for penetrating in the market. The target audience will include audience who are looking for a unique pizzeria experience. This will be relatively higher income earners. The product will be segmented for the middle and upper middle class consumers. It focuses on customers who are willing to experience a great pizzeria experience with the focus on Italian vibe. A concentrated marketing strategy will be used with emphasis on marketing and urban population. The need of the niche market will be fulfilled.

The pricing approach will be cost plus pricing with the involvement of standard Mark up for making the cost of the product reasonable. There will be odd prices set up for the pricing of the product.

The marketing strategies like newspapers and social media will be used extensively to promote the product.

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