STRATEGIC MARKETING PLAN
Strategic Marketing Plan
Omar Vasquez
MKT/574
August 20th, 2020
Pete Cortez
From,
The Senior Business Consultant,
A to Z Business Project Consultants,
Singapore
To,
The President,
The Board of Directors,
Chilli Willy Crab,
Singapore.
Dear Sir,
Thank you for the opportunity given to our company A to Z Business Consultants for presenting the market plan for the launch of the first new restaurant branch of Chilly willy Crab in Singapore. The outline of the plan indicates the promise of a successful business venture. The proposal requires deliberation and the senior business consultants will be honoured to meet you to explain the plan in further detail. Please address your questions to the consultants in the presentation meeting.
Once again, it is a great pleasure to serve your esteemed organisation.
Thanking you,
Yours faithfully,
Senior Consultant.
Table of Contents
1. Executive Summary    4
2. Situation Analysis    4
3. Environmental Analysis    5
4. Marketing Objectives and Strategies    8
5. Marketing Data Analysis    9
6. Overall Marketing Strategy for the New Target Market    15
7. Marketing Plan Communication Strategies    17
8. Marketing Plan Implementation Strategy    19
9. Control and Performance Monitoring Strategies    20
10. Conclusion    20
11. References    24
1. Executive Summary
It has been observed that Chilli Willy Crab will be opening their first branch in Singapore. Furthermore, Singapore is selected because it has competitive workforce, strategic location, and excellent economic policies along with pro-business environment. They will be offering wide range of seafood items (niche products) and the targeted consumers are the high profile corporate employees.
2. Situation Analysis
2.1 Description of Chilli Willy Crab
Chilli Willy Crab is the restaurant that will be completely specializing in the seafood cuisine and seafood dishes, such as shellfish along with fish. Furthermore, dishes may also include crab and freshwater fish. The concept of Chilli Willy Crab will mainly focus on preparing as well as service of the fresh seafood (Naaum, & Hanner, 2016).
2.2 Mission Statement
The main mission of the firm is providing healthy, fresh, great tasting as well as nutritious seafood at the reasonable prices in a friendly and clean environment.
2.3 Vision Statement
Within 1-year Chilli Willy Crab aims to be known as number 1 service in terms of having the best workers, and serving the best seafood in Singapore.
2.4 Product Line Description of Chilli Willy Crab
The types of goods that Chilli Willy Crab intend to provide its consumers are: Crab, cold and hot appetiser, broth and soup, exotic seafood, prawns, lobster, noodle and rice, desserts along with meat and poultry. However, the menu will be set accordingly as per the age groups and preferences of the individuals in Singapore (WAHAB et al., 2018).
2.5 Host Country Synopsis (Singapore)
There are a lot of seafood restaurants which are serving their consumers, so the market looks quite attractive for Chilli Willy Crab in Singapore. However, they will be facing cut-throat competition so they need to ensure that they specialize in one single thing that they will stand out of the crowd.
2.6 Market Potential along with Target Market Characterization
Being a seafood restaurant Chilli Willy Crab will be selling niche products so they will be relying on loyal consumers for building the business. Hence, the target consumers will be the people who love seafood in Singapore (Tam, 2017).
3. Environmental Analysis
3.1 Economic factors
It has been observed that the Singapore’s economy is quite attracted by the various industries of the world. Furthermore, considering the seafood business into the mind it can be stated it will be quite beneficial for Chilli Willy Crab. Singapore is a tourist place, so Chilli Willy Crab has a scope of establishing food business for various kinds of individuals.
3.2 Political factors
The operations of Chilli Willy Crab will be highly influenced by the political situations of various states. Singapore is the bureaucratic country, so the political power is in the government’s hand. Chilli Willy Crab must handle various political situations in an effective manner. However, this seafood restaurant is quite likely to face some of the issues such as altering rules and regulations because of the health implications with regard to food industry (Horng & Tsai, 2012).
3.3 Ethical, Legal and Regulatory Issues
Main portions of the Singapore law specifically trust and equity law, contract law, tort and property law are highly judge-made and some of the laws are now modified. However, Chilli Willy Crab needs to secure the Food Shop License under the Environmental Public Health Act that will be issued by the National Environment Agency in Singapore. The Singapore Government has a lot of regulations and rules covering the food industry that must be followed by Chilli Willy Crab (Henderson, 2018).
3.4 Technological Factors
Communication medium, equipment along with the other technologies will be helping Chilli Willy Crab to reduce their operation costs. The seafood restaurant is quite likely to get access to multiple technology options as Singapore is technologically developed country. Chilli Willy Crab will also use the social networking sites for the branding purpose (Tarulevicz, 2016).
3.5 Social Factors
Approximately Singapore serves 1.3 million people per week. However, this number has reduced due to the pandemic, but situation will recover soon. The quality of life in the Singapore is quite high and so it will be helping Chilli Willy Crab to establish their business in this country. People from cultural backgrounds live in Singapore (Hong, Jeon & Kim, 2012).
3.6 Competition Landscape/Competitive Forces
The main competitors of Chilli Willy Crab will be: Keng Eng Kee Seafood, Hua Ye Wee Seafood and Captain K Seafood Tower. The main ways by which the challenges from the competition can be mitigated are: The seafood menu must be creative, and it must be updated regularly, retaining excellent employees, using paid promotions for telling the story of the brand etc.
3.7 SWOTT analysis
3.7.1 Weaknesses
Main weaknesses: Cut-throat competition, it will not provide some of the main entertainment like other competitors and the cost of food items will be quite high so the normal people will not be able to afford it easily (Kong, 2015).
3.7.2 Strengths
The main strengths will be: The Chilli Willy Crab will be offering most popular seafood cuisines for the people of Singapore, this restaurant will also have an elaborate menu, the ambience and aura will be excellent as well as the location of the restaurant is in such a place where it is quite approachable by the MRT as well as the busses.
3.7.3 Opportunities
Some of the main opportunities: Chilli Willy Crab have the opportunity to move their operations in other locations once they are successful in Singapore, Chilli Willy Crab have the opportunity of building ethical image, and growth of the seafood industry in the country (Henderson, 2016).
3.7.4 Trends
The main trends are: Sustainable seafood and also embracing the multiculturism.
3.7.5 Threats
Main threats- Competitive pressures are quite high, the social changes in Singapore as the Government is encouraging the individuals for eating balanced meals and pandemic (COVID-19) situation
4. Marketing Objectives and Strategies
4.1 Marketing Objectives
The main marketing objectives will be: Maintaining steady and positive growth every month, experiencing an enhancement in the new consumers who will turn into the loyal consumers (for competing with potential competitors), enhancing 17% of market share in the first 24 months and generating at least $50, 000 with regard to sales every month (Dolejšová & Kaiying, 2016).
4.2 Market Position Strategies and Market Segmentation
Market segmentation:
By price- Segmenting the market by offering niche products at high prices as office workers in Singapore eat out regularly and they can pay high amount
By service- Being an upscale restaurant it will be offering more services unlike other restaurants such as valet parking, guaranteed reservations, tableside preparation of the seafood items etc.
By cuisine- As the speciality of the restaurant is seafood so Chilly Willy Crab intends to create sophisticated senior and family dining experience. The area in which Chilly Willy Crab is located has a large ethnic community and they will also be targeted offering less-authentic and milder menu items for attracting outsiders.
By consumer type- Consumer demographics will be used for guiding Chilly Willy Crab in terms of developing their brand in Singapore. The area in which Chilly Willy Crab is located has large number of affluent working professional’s as well so international menu with crafted beer and light music.
I plan to introduce the seafood products in Singapore based on psychographic, demographic, ethnographic and sociographic segment. Promotion will be made by the social media channels in Singapore and exclusive events will be made for the loyal followers (Whitton et al., 2014).
5. Marketing Data Analysis
5.1 Internal Data
    Source
    What it Measures
    Data
    Potential Usage
    Sales data
    Monthly sales by specific seafood products sold in Chilli Willy Crabs
    Average sales of that month in US dollars for each of the 10 seafood items. Data can be segregated on the basis of actual business and the seafood market in Singapore.
    Can be used for trend analysis, future sales projections and also to measure the value of advertisements and promotions.
    Reservation Data
    Total number of reservations made on a daily basis
    The data will be on the advances made, percentages of no-shows and cancelled, percentage of late, how made booked online and over the phone, the size of the groups for reservation, which time and day the most reservations took place.
    It will help to better control the flow of traffic and also facilitate to organize the amount of maximum profits earned.
    Analytics Data
    The Analytics data will be taken from Google Analytics. This will enable to measure the number of people visiting the websites of Chilli Willy Crab.
    The data will help Chilli Willy...