Brand Management
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HMAN 366 – BRAND MANAGEMENT Course
Course Instructor: Ezgi ERKMEN
TERM PROJECT
PREPARED BY:
CENGİZ CANOĞLU S001460
SARA BETTS S007792
HACİHAN AZİZOĞLU S005390
OĞUZ VARDAR S000952
Submission Date:
05.05.2016
ISTANBUL
Marketing Plan Outline
- INTRODUCTION
- Business Objectives
- Mission Statement
- Vision Statement
- MARKET ANALYSIS
- Industry Analysis
- Market size
- Industry Participants
- Main competitors
- Market segments
- Target Market Segment Strategy
- Market needs
- Market trends
- Market growth
- Positioning
MARKET STRATEGY and IMPLEMENTATION
- SWOT
- Unique Selling Proposition
- Competitive Advantage
Introduction
In consumer marketing, critical point for the success of many companies lie in differentiated and competitive offerings. Therefore, it is important that the management of brands is approached strategically.
The term `Brand Equity` in marketing emerges out of relationship between customers and brands. The importance of it in both accounting and marketing has been examined in depth and long-term impacts have been underlined for the scope of Brand Management Lisa Wood (2000).
Even though many companies have attempted to apply different branding strategies, an insufficient terminology as well as philosophy within disciplines persists.
We would like to highlight the important business goals of our company. Our first aim is to give the best possible service to our consumers through the purchase of fresh foods by the help of local farmers which can be a significant financial support to them. In addition, it will be sustainable and reduce an environmental footprint.
Another business objective we have in our mind is to create historical ambiance. The intention is to build the restaurant in a way that will take our customers back in time while giving them the pleasure of being part of it.
Last but not least, to set ourselves apart from those who will be our competitors will be through influential branding and management tools. For example, effective usage of social media platforms, establishing a team that is sole responsibility will be to follow up on upcoming trends in restaurant industry, maximum application of restaurant revenue management techniques such as Revenue per available seat hours (RevPASH), revenue per available seat hours ( RevPSH), and revenue per available square meters (RevSM ) which will significantly affect the restaurant’s bottom-line.
Mission Statement
To foresee guests needs wants and cater for them while staying sustainable as well as supporting local farmers.
Vision Statement
To run a business that is only aim will not be benefiting the bottom-line of it but to aim at mutual benefit and comply with world-widely accepted social responsibilities.
2. MARKET ANALYSIS
- Industry Analysis
The restaurant industry of Turkey especially Istanbul has seen a boom in last two decades. The reason is that the number of tourists and visitors to Istanbul has increased profoundly. Thus, the restaurant business has become very competitive in Istanbul. However, the majority of restaurants do not fail to show Excellency in the service provided even though it becomes harder and harder to meet up to ever changing taste. To be exact, there are a couple of locations that can be considered a good spot for successful restaurant operation such as Besiktas, Kadikoy and etc.
Therefore, for a number of reasons we look for our business opportunities in Kadikoy. Number one reason is, Kadikoy is full of students and today’s young generation is very sensitive to sustainability issues which means that If the prior objectives of our restaurant that mentioned above are transmitted effectively to those of its buyers, it will create a significant brand awareness.
Another reason why Kadikoy could be a good option to operate a restaurant in is it is considered one of the best places to go and spend time on Asian side thanks to its location, a wide variety of restaurants, coffee shops, and shopping stores.