Create a marketing plan Essay Example | Topics and Well Written Essays - 2000 words

Create a marketing plan - Essay Example This will not only help him to offer the customers better services but also increase the popularity of the cafe through word of mouth. Apart from this the focus would be on providing services according to preferences of the local customers. Another advantage of running a sole proprietorship business would be keeping all the profits and all the business affairs a secret so as to compete successfully with the competitors. The location of the cafe would be 46/48 The Hornet, Chichester, West Sussex, PO19. The size of the property is 2250 sq. ft, which includes the ground floor, first floor and the second floor of the building. The Hornet was selected as it is situated in a very prominent trading spot of the city. The place is crowded with traders and it is a very busy location of the city where the population of coffee drinkers is high. The rent of the property would be ? 27,500. Market Analysis Market analysis involves studying the dynamics and the attractiveness of the market within th e industry. It is a part of industrial analysis, which also helps to understand the internal and external environment of the company. It is also referred as an investigation often whole market that is required to take necessary decisions regarding promotional activities, purchases, recruitments, facility expansion and other significant tasks. 1 Market Segmentation Marketers cannot customize their products according to the taste and preference of every individual. So they identify people with similar needs, tastes and preferences and group them together to form market segments. This not only helps the marketers to identify the preference of different groups, but also help them to focus on a few groups and develop their products accordingly. 2 Restaurants and cafes form a part of the hotel and restaurant industry. People from all age groups visit restaurants and cafes. Moreover, cartoon or comic themed cafes would not only be preferred by kids but also youngsters, college goers, marri ed couples and old people. So One Piece cafe should welcome diversity in this case. They should not limit themselves to a specific segment based on the demography or geography or behavioural pattern. The working or business class women should be paid more attention to show that One Piece Cafe values its customers. The cafe is mainly based on the theme of One Piece, which is actually a well-know Japanese animation series. There is a huge fan following for this cartoon series in Japan and in other parts of the world. It is based on a pirate theme. So the interior designs also would be based on the same. This would attract the fans of One Piece round the world to visit One Piece Cafe. Even Tourist visiting the country would like to come to One Piece Cafe to experience the One Piece ambience and enjoy dinner or simply a cup of coffee. Targeting Target market involves a group of customers for whom the company designs, and develops a product or service. The marketing strategy and mix are designs prepared by the marketers to satisfy the target customers. Targeting can be of two types: differentiated and undifferentiated. Differentiated targeting signifies focusing on a particular type of customers and leaving out the

Alternative Approaches to Executive Compensation Essay

Alternative Approaches to Executive Compensation - Essay Example †¢ ïÆ'Ëœ Limitations of Optimal Contracting ïÆ'Ëœ Agency problem experienced by managers ïÆ'Ëœ CEO can influence the nomination process for the board directors ïÆ'Ëœ The directors may never challenge the CEO’s pay, as they may want to please the CEO. ïÆ'Ëœ Market forces are not strong enough to assure optimal contracting outcomes ïÆ'Ëœ Failure of maximizing the shareholder value ïÆ'Ëœ Directors’ interest in the firm is nominal and therefore may not be serious with the company management. ïÆ'Ëœ Some agreements of the directors may be affected by market forces especially those affecting capital. †¢ Managerial power approach ïÆ'Ëœ The Managerial power approach gives managers an opportunity to camouflage especially when extracting rent, ïÆ'Ëœ The approach may lead to the use of structures unfavorable to the firm performance and managerial incentives. ïÆ'Ëœ The compensation arrangement design depends on the perception of the outsiders ïÆ'Ëœ The manager ial power approach may influence the relationship between power and pay without considering performance ïÆ'Ëœ The CEO’s compensation may be influenced by transparency and salience disclosure. †¢ Power and Camouflage at Work Practices explained by power camouflage include ïÆ'Ëœ Power Pay Relationship ï‚ § Pay is higher in if managers have higher power ï‚ § The board is ineffective ï‚ § There is a small outside shareholder ï‚ § Fewer institutional shareholders ï‚ § Managers are protected by antitakeover arrangements ï‚ § Managers with antitakeover policy compensate themselves more ïÆ'Ëœ Compensation consultants ï‚ § Employed to provide advice on executive compensation ï‚ § May increase their incentive to please the CEO ï‚ § Used to justify executive pay instead of optimizing it ï‚ § Provides compensation data, which favors the CEO ïÆ'Ëœ Stealth Compensation ï‚ § This is where a firm may use camouflaging practices to enable them to pay the executives large sums of money. ï‚ § Payments include deferred compensation ï‚ § Loan forgiveness and consultation contracts ï‚ § Use of executive loans with favorable interest rates