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.
