Dr. Manahil PRICING & MARKETING PLAN IMPLEMENTATION
Lilozie
MKT501Mod3Case.docxRunning head: STRATEGIC MARKETING MODULE 3 CASE 1
STRATEGIC MARKETING MODULE 3 CASE 3
Trident University International
Lisa A. Quinonez
Strategic Marketing Module 3 Case
MKT501: Strategic Marketing
Dr. Todd Senft
18 February 2019
Introduction
The business that I chose to create is a ketogenic restaurant called, The Keto House. The main focus of this restaurant is to create a stress-free environment that provides a complete dining experience for individuals who are living the ketogenic lifestyle. In the past, the ketogenic diet was used as an effective treatment for epilepsy in children. After a long time of research, it has now been shown to be an effective diet for weight loss as well as for Neurodegenerative disorders (J. Erdman 2012). The ketogenic diet is a high fat, low carbohydrate diet that focuses on 70 – 80 percent of caloric intake be fat, 15 - 10 percent of calories are from protein and the rest of the calories are carbohydrates. This intake percentage is called, “macros”. So, it can be very difficult for anyone who is on this diet to enjoy an evening out with friends or family without ruining their diet. An important part of the development of a business is analyzing the aspect of promotion, cost analysis, and other concerned dimensions. With creating The Keto House, this paper will show an integrated marketing communication approach that will be established for the restaurant so that a clear and consistent message is conveyed to the consumers.
Integrated Marketing Communication
Integrated Marketing Communication (IMC) is necessary to give a consistent message to all the consumers using the product/service. The elements of the communication mix include advertising, direct marketing, sales promotion, publicity/public relations and personal selling (Finne & Grönroos, 2014). Advertising is necessary for increasing awareness about a product among consumers, however advertising doesn't necessarily assure sales unless sales promotion is done by the company. Direct advertising is beneficial in order to target a specific audience. Currently, the most effective type of IMC approach of marketing is showing to be digital and social marketing. With smart phones providing the internet at the touch of hand, millennials are more attracted towards social platforms (K. Shelton 2019).
Product
The Ketogenic food diet involves high fat, low carb meals (Wang et al., 2016). The Keto House will be operating in Las Vegas, Nevada. Although there are a number of keto friendly restaurants in this area, The Keto House will be catering to the ketogenic diet specifically. Other restaurants that are available in Las Vegas at this moment do not specifically focus on the ketogenic diet, however their menu and buffet options make is so dieters can manage the low carb requirements. Contrary to this, The Keto House will be offering specific keto food created to meet the ketogenic requirements, ie: no processed foods will be provided. The keto food menu will be prepared with the help of the onboard nutritionist, as well as chefs and service staff that are educated in the ketogenic diet.
IMC Approach
The following are the main aspects that will be used in the IMC approach.
· Direct Marketing: Not everybody in the Las Vegas area are following a keto diet, finding specific customers would be the priority in case of development of the restaurant. For the purpose of approaching specific consumers (Finne & Grönroos, 2014). Direct marketing would be the most appropriate method of increasing sales. Direct marketing will be available in the form of coupons and online customer services. With the introduction of every new meal on the menu, coupons will be available for the consumers of the keto diet so that the product becomes popular in the eyes of the consumers. Information will be distributed online through applications such as Groupon and provided to weight loss providers and fitness trainers.
· Social Media Marketing: In the present time, social media platforms are essential for increasing sales and get higher engagement among targeted consumers (Finne & Grönroos, 2014). Likes, dislikes and health of the consumers will be kept in mind while managing the social media profile of the restaurant. Also, the restaurant will have region-specific social media accounts so that the targeted customers can be approached easily. This can be provided with applications such as Yelp, and GrubHub.
· Public relations: Integrated marketing tool is started through public appearances news/official statement and occasion sponsorship by exhibiting the item in generosity and trust with the goal that the organization is displayed in a positive way (S. Johnson, 2018).
Messaging
The core strategy of the restaurant will be an online presence as well as “word of mouth”. With the help of this core strategy, the message of health and the benefits of keto diet will be communicated among the consumers. Data gained with the help of the internet will be effective to gain insights for increasing sales.
Measuring Effectiveness
A most suitable method of measuring advertising effective is through social media engagement and the increase in sales. Both the methods are effective to see results will be evident in this case.
Conclusion
In conclusion, the IMC approach for giving out a constant brand image of the restaurant. The Keto House will be following three major approaches in IMC including direct marketing, social media marketing, and public relations. However, the likes, dislikes, and health of the consumers should be considered in this approach.
References:
Erdman, J. (2012). Nutrition and Traumatic Brain Injury: Improving Acute and Subacute Health Outcomes in Military Personnel. Washington (DC): National Academies Press. 11, Ketogenic Diet. ISBN:978-0-3-9-21008-9
Finne, Å., & Grönroos, C. (2014). Rethinking marketing communication: From integrated marketing communication to relationship communication. Journal Of Marketing Communications, 15(2-3), 179-195. Retrieved from http://10.1080/13527260902757654
Lee, Y. (2018). The Keto Craze: Charting Growth and Identifying Keto Product Gaps. Retrieved from https://www.kerry.com/insights/kerrydigest/2018/the-keto-craze-charting-growth-and-identifying-keto-product-gaps
S. Johnson, K. (2018). Elements of Integrated Marketing Communication. Retrieved from https://yourbusiness.azcentral.com/elements-integrated-marketing-communication-3805.html
Shelton, K., (2019 January 8). The Most Effective Digital Marketing Channels for Small Businesses. Marketing Bitz. Retrieved from https://marketing-channels-for-small-businesses/
