Rationale
Due to my interest and liking in the subject Business and Management and the chapter marketing, I opted for this topic. In order to find an appropriate firm for my thesis a lot of researching was required. However, Food Hall best suited my needs and enabled me to proceed in my research. While conducting the study I was able to learn many new things. In the following IA I aim to answer the research question –
“Should Food Hall amend its marketing in order to expand in Mumbai?”
Theoretical Framework
Syllabus Unit Syllabus Areas Rationale
1.7 Growth and Evolution
-Economies of scale
-Internal(Organic) growth
-External (inorganic) growth Understand the benefits and drawbacks of expanding for Food Hall
4.1 The role of marketing The …show more content…
If the customer wants to buy these products then they have to visit Foodhall.
2) Not many competitors- there are competitors like D Mart, Godrej's Nature Basket, Hypercity and Big Bazar but the offering of these stores is not the same as that of Food hall. Food hall is targeting premium high end customer whilst others are targeting mid income customer. Food hall is accordingly in a unique position.
3) Motivated staff- given that the promoter herself, Ms Avni Biyani visits stores on a regular basis and serves the customers, staff in the stores remains highly motivated. The stores are also welcoming with ambient music and temperature so that staff is comfortable throughout the day. Staff on duty is served free food during lunch/ dinner time.
4) Quick in understanding consumer behaviour- one of the biggest strengths of Food hall is their ability to understand consumer behaviour and merchandise the store accordingly. Fast moving items are stored with slow moving items not repeated again. Also new product offerings are tested through display to check customer keenness before these products are purchased in …show more content…
Today Food Hall is not a household brand like Big Bazar or D Mart. For Food hall to secure more customers, it will need to broaden its marketing base and will need to be more visible through media and outdoor advertising. If Food hall doesn't broaden it's marketing base then there is a fear that it will remain only a niche player and can become insignificant once foreign food retailers are allowed to enter the Indian market.
Restraining Forces
However, there are restraining forces that are acting against revision of marketing strategy because the customer profile is currently restricted to top end of income pyramid. Since the target audience is so specific broad based marketing may not yield the required results. Broad based marketing is expensive and it needs to provide the right growth in revenues, otherwise the healthy ratio of marketing spend to sales which currently is below 5% will go up thereby reducing the profits of Food hall.
Recommendations
1) Food Hall should review the SWOT analysis and find different ways by which it can overcome the weaknesses and threats and take full advantage of the strengths and
Due to my interest and liking in the subject Business and Management and the chapter marketing, I opted for this topic. In order to find an appropriate firm for my thesis a lot of researching was required. However, Food Hall best suited my needs and enabled me to proceed in my research. While conducting the study I was able to learn many new things. In the following IA I aim to answer the research question –
“Should Food Hall amend its marketing in order to expand in Mumbai?”
Theoretical Framework
Syllabus Unit Syllabus Areas Rationale
1.7 Growth and Evolution
-Economies of scale
-Internal(Organic) growth
-External (inorganic) growth Understand the benefits and drawbacks of expanding for Food Hall
4.1 The role of marketing The …show more content…
If the customer wants to buy these products then they have to visit Foodhall.
2) Not many competitors- there are competitors like D Mart, Godrej's Nature Basket, Hypercity and Big Bazar but the offering of these stores is not the same as that of Food hall. Food hall is targeting premium high end customer whilst others are targeting mid income customer. Food hall is accordingly in a unique position.
3) Motivated staff- given that the promoter herself, Ms Avni Biyani visits stores on a regular basis and serves the customers, staff in the stores remains highly motivated. The stores are also welcoming with ambient music and temperature so that staff is comfortable throughout the day. Staff on duty is served free food during lunch/ dinner time.
4) Quick in understanding consumer behaviour- one of the biggest strengths of Food hall is their ability to understand consumer behaviour and merchandise the store accordingly. Fast moving items are stored with slow moving items not repeated again. Also new product offerings are tested through display to check customer keenness before these products are purchased in …show more content…
Today Food Hall is not a household brand like Big Bazar or D Mart. For Food hall to secure more customers, it will need to broaden its marketing base and will need to be more visible through media and outdoor advertising. If Food hall doesn't broaden it's marketing base then there is a fear that it will remain only a niche player and can become insignificant once foreign food retailers are allowed to enter the Indian market.
Restraining Forces
However, there are restraining forces that are acting against revision of marketing strategy because the customer profile is currently restricted to top end of income pyramid. Since the target audience is so specific broad based marketing may not yield the required results. Broad based marketing is expensive and it needs to provide the right growth in revenues, otherwise the healthy ratio of marketing spend to sales which currently is below 5% will go up thereby reducing the profits of Food hall.
Recommendations
1) Food Hall should review the SWOT analysis and find different ways by which it can overcome the weaknesses and threats and take full advantage of the strengths and