Marketing objectives:

Chicken Rice shop has to make sure that the objectives which they set are

measurable, quantitative, challenging, realistic, consistent and prioritized. Keeping in

mind all these factors Chicken Rice shop should come with these following

objectives.

The objective of Chicken Rice shop is that they should become the number one

prominent shop in the world which provides quality food to its precious customers at

a very reasonable price, which gives its employees job security and provides all its

stake holders good return on their investments. Other than this their objective is to

increase their market share and make as much profit as they can.

Marketing audit:

In this marketing audit, Chicken Rice Shop is looking at its macro and micro environment.

Macro Environment includes:  * Economic-Demographic  * Technology  * Culture  * Political and Legal  * Markets  * CompetitorsMicro Environment includes:

  * Market and customers  * Competitors  * Distributions 

MACRO ENVIORNMENT

Economic-Demographic

Chicken Rice shop approach to expansion goes beyond the traditionally accepted

methods.   Their unique approach to expansion goes beyond the traditionally

accepted methods.   Chicken rice shop has broken the rules and set a new standard

amongst its competitors - targeting both males and females, ranging in age from 18-

30 year olds, and middle to upper middle class.   Chicken rice shop caters to all

needs; they offer non-caffeinated drinks, for children or non-coffee drinkers, meats,

cookies, sweets, and a variety of juices and pastries. 

Technology

Technology is important to a company in order to achieve success. The level of

technology determines the industrial productivity, new products and

services, cost and accessibility of services etc. Chicken Rice shop is continuously

searching for ways to better a customers' experience. With the introduction of the

Chicken Rice shop Card for example, the Company has created the opportunity to

improve customer service, shorten lines and make a customer's visit at Chicken Rice

shop quicker and more convenient. 

Culture

Chicken Rice shop ultimate goal is to provide a third place outside of work and

home.   Providing a place where people can relax and enjoy top-quality meat and

fries products, while creating an atmosphere of comfort and belonging. 

Political and Legal

Chicken Rice shop also only imports all their groceries products , so possible threats

could include a change in import laws. A change in the status quo as far as imports

go could greatly affect numerous areas of production for the company. For example,

if it costs more to import or the process is made more difficult the result could

ultimately be a change in price, which would affect the level of consumption for

Chicken Rice shop products.

MICRO ENVIORNMENT

Market and customers

Chicken Rice shop markets by expanding its specialty operations in reaching

customers where they work, travel, shop, dine and socialise by establishing

relationships with prominent third parties who share their values and commitment to

quality.

Competitors

Chicken Rice shop’s current and direct competitors are Seattle’s Best, best quality

meat, fries and groceries products. It is clear that Chicken Rice shop has few major

competitors, and the competition has nowhere Chicken Rice shop' volume of

operations.

Distributions

Chicken Rice shop has carried out their strategy by moving distribution into grocery

stores, convenience stores, department stores, movie theatres, businesses, airports,

schools, and homes. ; Instead relying more on its image advertising, such as movie

and television placement, in order to promote the success of the business.  Chicken

Rice shop has shown to use less of traditional advertising.

SWOT ANALYSIS

Chicken Rice shop Corporation, a specialty groceries retailer, producing and selling

a wide variety of hot and cold beverages, as well as pastries and confections.

Strengths  

* Global presence  

* A disciplined innovator  

* Increase in revenues and profits    

* Clustering of company units  

* Chicken Rice shop Corporation is a very profitable organization

Weaknesses  

* Reliance on market  

* Reliance on beverage innovation  

* Lower revenues and income per employee  

* Lower returns on equity than peers  

* Problems in some international Operations    

* strong presence with more than three quarters of their shops located in the home

market.    

Opportunities  

* Growth in global coffee market  

* New product  

* Strong record of taking advantage of opportunities.    

* New products and services that can be retailed in their cafes, such as Fair Trade

products.    

* The company has the opportunity to expand its global operations. New markets for

coffee such as India, the Pacific Rim, and European nations    

Threats  

* Market expansion  

* Volatile meat markets  

* Rising dairy costs  

* Slowing retail sales  

* Competition  

* Market entry of many competitors and “copy cat” brands that pose potential threats.

SMART objectives:

Specific - Be precise about what you are going to achieve.

Measurable - Quantify your objectives.

Achievable - Are you attempting too much?

Realistic - Do you have the resources to make the objective happen (men, money,

machines, materials, minutes)?

Timebound - State when you will achieve the objective. 

The following SMART objectives have been set out for the next 5 years: 

1) To gain 20% of the coffee shop market in United Kingdom in the next 3 years

The three major chains – Chicken rice, Dixi and PFC – now have nearly 60% of the

market. PFC is growing its share of the market the fastest, with Dixi declining over

the past year. Nero currently has about 13% of the market. Our objective is to

increase the market share to 20% in the next 3 years. This could be facilitated by

opening more stores in other cities in UK or marketing current stores to more

customers by expanding product lines. 

2) To increase the number of stores to 20 stores by 2012.

The company currently has around 400 outlets. The objective is to increase the

number of stores in other cities of the United Kingdom. This will fit into the expansion

plan we have in mind.

3) To increase sales to 40% in cities outside of Greater London by 2015.

Greater London still contributes to the majority of sales even though Chicken Rice

shop stores exist in all other areas of the UK. There is still a huge potential to grow in

other areas of the country. The objective is to increase sales in other areas to be

more proportionate to that of London in the next 5 years.

4) To allocate 50% of the marketing budget to market new products in the next 5

years.To expand the market share, we need to expand the product choices to attract

more customers and satisfy different customers’ needs. The plan is to allocate more

budget to promote these new products.

Ansoff matrix:

The Ansoff matrix presents the product and market choices available to an

organization. Herein markets may be defined as customers, and products as items

sold to customers.  The Ansoff matrix entails four possible product/market combinations: 

 * Market penetration,

* Product development, 

* Market development and 

* Diversification.

Fig 1: Ansoff Matrix

1. Market penetration:

The first strategy for Chicken Rice shop is looking to adapt for increasing their sales

and profits. Marketing efforts of the company to offer their existing products in the

current markets is called market penetration strategy. The best way to do this to

attract competitors customer and looking for potential customer for the existing

products. 

2. Product Development:   

Another strategic option for Chicken Rice shop is to develop new products. Product

development occurs when a company develops new products catering to the same

market. It’s important to note that product development refers to significant new

product developments and not minor changes in an existing product of the firm. 

3. Market Development:

Developing a new market for the existing company product is called market

development strategy. This is the process of finding new market for the new

customer to increase company performance by increasing sales and profits. Chicken

Rice shop can develop market on geographical such as city, country, region, state

etc and demographical such as age,sex,gender,class etc.

4. Diversification:

Diversification strategy is distinct in the sense that when a company diversifies, it

essentially moves out of its current products and markets into new areas. It is

important to note that diversification may be into related and unrelated areas for the

Chicken Rice shop.

Strategic evaluation:

From the strategic evaluation, Chicken Rice shop should focus of their strategy

accordingly to different country, depends on where the outlets. This is because they

need to provide market which have high growth rate. On the other hand, Chicken

Rice shop had difficult time with their previous name, but they came up well in the

end, which gives an indication that shop can stay   well in market.

In order to achieve the above objectives Chicken Rice shop has to come up with

different strategies. Strategies which make it possible to achieve all these objectives.

These are actually potential actions that require the top management decisions and

large amount of the firm's resources. At the end of each year Chicken Rice shop

should evaluate the results of all the strategies and policies. This is a very important

step as this would tell them where they stand and how effective was there

management as well as tell them about the mistakes or their weaknesses. For this

purpose they should compare the results to their objectives. If the objectives have

been fulfilled that means that they were successful if not then they should see what

mistakes did they make and try to rectify them.