Essay about comm204 phase1

Submitted By Leslie-Shao
Words: 1341
Pages: 6

Bliss Fine Food
Analysis of Current Marketing Strategy

Jia ning, Meng
28th May, 2014

Market Description

Located at the heart of the Broadway neighborhood in Saskatoon, Bliss Fine Food has become famous for its delicious entrees and delicate desserts. Besides its dishes, Bliss is also offering satisfactory services and a relaxed atmosphere that keep customers coming back. It is a casual place for people to relieve their stresses in this fast-paced high-pressured society.

Bliss can be affected importantly by three micro-environment elements, which are company, suppliers and customers. The company, which is Bliss, is the first microenvironment element. Faced the trend with more and more stronger market competitions, a correct company operation system can ensure Bliss operated well and maintain the profits, and that is the reason why the company element is so important. Suppliers provide the resources needed by the company to produce its goods and services. Changes in suppliers would have great effects on Bliss. Supply shortages or delays can cost sales in the short run and damage customer satisfaction in the long run. Rising costs may force price increases that can harm the company’s sales volume. Finally, the most important actor in the company’s microenvironment is the customer. The aim of the entire value delivery system is to serve target customers and create strong relationships with them. In those three microenvironment elements, the customer element is the key element because customers have the most direct impact on Bliss. The simple fact is that a for-profit company can't be successfully operated without attracting targeted customers.

In macro-environment elements, three of them are particular essential for Bliss. There are demographic forces, economic forces, and technological forces. First of all, demographics indicate the characteristics of human populations and segments, and different groups of people always have different choices. For instance, young adults may choose to eat in restaurants, however, senior people may prefer eat in home. The economic forces can affect consumer purchasing power and spending patterns. For example, the inflation decrease the value of cashes in customers’ hands which can lead customers to choose cheaper restaurants like KFC or MacDonald other than Bliss. Another element, which is technological forces, can make Bliss have competitive advantages in one area. As the technological environment changes rapidly, if Bliss has an advanced technology in one area, the cost in that area would be decrease and Bliss can earn more profits. Between these three macro-environment elements, it is true that the demographic force is the key element because it involves people and people make up markets.

People's tastes are changing as they become more aware of their health, which make them choose casual dining restaurants other than fast food restaurants
The transportation is so convenient that can save customers’ time to reach
The economy of Saskatoon growth rapidly, which can make more customers choose casual dining restaurants to have their meal.
Traditional fast food restaurants are very popular and difficult to be beaten by casual dining restaurants because of their convenient and cheaper food.

Target Market

Market segmentations
Different groups of people have different eating habits; the market should be segmented by ages, which means people with different ages will choose different restaurants to have their meal. The market could be segmented to three parts: teens (13-19) and young adults (20-35), adults (36-50), mature (51-65) and seniors (65+). First of all, teens and young adults are two groups that younger than other groups, people in these two groups are always busy doing their things and their eating habits are irregular respectively. In order to save time, they will choose to eat at fast food restaurants or buy some