This business report discusses about how the proprietor of The Restaurant, can implement a successful online marketing strategy to attract the potential customers. The marketing strategy has been designed based on the situational analysis of the market and the behavioural pattern of the target customers. The report mostly focuses on the online marketing strategies and its proposed implementation process in the given three months’ time before business is open for the customers. The fundamental issue of internet banking has also been discussed along with the possible solutions to avoid any disruption in the marketing communication process.
The proposed business venture of The Restaurant will be set up in New Castle. In order to achieve success in terms of building a strong brand image and long term growth of the business, adopting a good marketing communicational strategy is essential. It is proposed that the business venture should adopt an online marketing strategies to create a strong brand awareness among the customers before the restaurant is finally opened.
The reports of Statista (2016a) suggest that the usage of the internet have shown significant growth over the past years and is likely to grow in the near future. This clearly indicates that the company will be able to reach out to a large number of customers over the online platform. Furthermore, adopting the internet marketing strategy at the startup phase can also prove to be quite beneficial for the venture as it can reduce the overall operating cost. The relatively low cost of the online advertising makes it a perfectly suitable strategy for a new business venture like The Restaurant (Allen, 2016). The rapid and gradual growth of the UK restaurant sector has also resulted in its increase in the competitiveness (Shubber, 2015). This as a result makes it imperative for the companies to develop strong brand awareness in the market that can help it foster higher competitive advantage and ensure its sustainability and growth in the market.
The strategies and possible issues of the online relating to the implementation of the online marketing strategies have been discussed in the following section.
Online marketing strategy for The Restaurant
The online marketing strategies adopted a company is mostly focused on the use of the internet as the base platform. In order to create a strong brand image of the company it is recommended that The Restaurant should adopt different forms of digital marketing to enhance the impact of the marketing communication. It is suggested that the communicational activities should encompass SEO advertising (Search Engine Optimised ads), social media marketing, specialised search engines and banner ads. Each of these online marketing tools has their own advantages that can be leveraged by the company to develop a robust and effective communicational strategy that can provide a higher return on investment.
Implementation of online marketing strategy
The implementation of the marketing strategy should be based on the study of the behavioural pattern of the target customers. The reports of Statista (2016b) have revealed that the customers have shown an increasing trend in eating out. It has been found that the majority of the restaurant customers belong to the younger section of the society (Dugan, 2015). This indicates that the strategies needs to be implemented based on the behavioural pattern of this population segment.