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RESTAURANT STARTUP MARKETING MIX: Case study Mad Wok and Helmi restaurant - success and failure in marketing

By Long Thanh Nguyen

Abstract

Restaurant startup is one of the most popular business that can gain profit quickly because it solves the human’s most basic need: Food. Making good quality food is not enough to stand out from the huge competition in food and beverage industry. Pricing, location and promotions are the other elements of marketing mix (4Ps marketing) for business owner or the restaurant’s marketing team to consider. The thesis aims to provide a fundamental background for food and beverage startup focusing on 4Ps marketing. It is designed for young business whose team is lack of experience and especially budget. The discussion will be written in a less academic style with definition of important marketing as the basics and the rest are practical tips and tricks. The main and most important topic of this thesis is the marketing mix strategy (4Ps marketing). Each of the “P” will be explained with the basic features. Practical real-life experience tips and tricks will be included at the end of each “P”. Mad Wok and Helmi restaurant are used as case study to analyze the marketing mix effectiveness of each. Theoretical parts are up-to-date information taken from books, journal, business websites to give a brief idea both academic knowledge and realistic events that is happing in real business. Plus, a generous amount of discussion is from face-to-face interview with Foody.vn marketing director. The case study contains personal working experience with Mad Wok and Helmi until present. Finally, a SWOT analysis is used to processed the data for Helmi. In conclusion, running a new business is not easy for startup as they are groups of people being lack of experience and budget to create a perfect environment for each “P”. It is important to balance the value of each “P” in the marketing mix that one strong points can fill the weakness of others. Business owner should take time and effort to understanding their product and target customers

Topics: 4Ps marketing, balance, marketing mix, promotion, startup, fi=Liiketalous, hallinto ja markkinointi|sv=Företagsekonomi, förvaltning och marknadsföring|en=Business Management, Administration and Marketing|, Degree programme in Business Management
Publisher: Centria-ammattikorkeakoulu
Year: 2017
OAI identifier: oai:www.theseus.fi:10024/140367
Provided by: Theseus

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