Assignment Details:

The Food and Beverage (F&B) services industry plays a vital role in Singapore’s economy. With its diversity, the industry offers tremendous entrepreneurship opportunities due to low entry barriers. In 2016, there are 7,679 F&B establishments which contributed to total operating receipts of SGD 9,023 million (Department of Statistics Singapore, 2017).

Services are intangible offerings provided by one entity or person for another entity or person. Services constitute a dominant part of the economy and are one of the few business systems that are difficult to outsource. In order to maximize customer lifetime value, firms have paid more attention to developing a service-related orientation toward marketing.

Individual Report Overview

Conduct a marketing mix evaluation of the firm that you are currently working with. Provide a summary of your assessment of the firm’s marketing mix. The analysis will be done from the perspective of IMPROVING the current level of service at the firm that you have selected to work on.

The proposed report format is as follow:

Content Page

1.0 Introduction

2.0 Assessment of a firm’s marketing mix (Student has to do general analysis on the 7Ps however, an insight analysis should be done for 4Ps.)

2.1 Product

2.2 Price

2.3 Promotion

2.4 Place

2.5 People

2.6 Physical Evidence

2.7 Processes

3.0 Conclusion

4.0 Recommendations References

The following pointers would aid you in answering your report:

Introduction:

• Provide a description of the firm.
• Describe the demographics and psychographics of their customers.
• Does the firm carry out any customer research to improve its service and/or understanding customer expectations?
• How often does top management interact with the customers and how concerned are they about service quality?
• Efforts in gaining new customers.

Firm’s Marketing Mix (7Ps)

Assessment of a firm’s marketing mix

Product: Physical component of the service (e.g., food in a restaurant) What are its attributes? Firm’s competitor(s) Is there any seasonality attached to demand for the service?

Price: Value of the product/service to the customers Is the customer price sensitive? Pricing strategy as compared to competitors Any discount offered?

Promotion: Activities that communicate the product/service features to the consumers How does the firm get the marketing messages across to the target market? Marketing channel(s) used

Place: Place to conduct service business How visible the setup would be to potential customers? How often it would be visited by consumers?

People: Identify and discuss all human factors who play a part in the service delivery Company recruitment policy. Do they have a training program for their employees? Do they pay employees by industry standards? Do they provide incentives or motivate their employees in any other way to perform well at their jobs? How often does senior management contact employees and ask for their feedback on various issues relating to the firm.

Physical Evidence: Describe the internal environment (e.g., the interior of the restaurant) in which the service is delivered and the exterior environment surrounding the service space (e.g., parking space, entrance, washroom and etc.) Physical space where the firm and customer interact. Tangible components that facilitate performance or delivery of the service. Does the design/layout of the service space meet both employee and customer needs? Does it look attractive to customers? What can be done to improve the area?

Process: Procedures, mechanisms, and flow of activities by which the service is delivered. Procedures in place for employees to follow with regard to service delivery. Do the employees understand the procedures? Is the process developed in a manner to deliver effective service?