Each and every organization, today, give huge importance to marketing. Marketing of a restaurant is basically nothing but the marketing of the service of that restaurant. However, restaurant marketing is little more difficult as compared to any other organization or product as the restaurant industry is extremely competitive in nature.
This paper is all about a new restaurant called ‘London dining Experience’ and various issues regarding marketing of this restaurant. The paper includes an in depth analysis of the marketing environment of the restaurant, the process and the reasons of segmentation of the market of ‘London dining experience’.
Generally there are two distinct marketing environments that influence an organization. These are micro and macro environment. It is very important for any organization to analyze its marketing environment because marketing environment comprises of all those factors that have either direct or indirect influence on the organization. As far as ‘London Dining Experience’ is concerned, the restaurant is about to launch. As a result it needs to have clear understanding about its marketing environment. Like any other organization microenvironment of this restaurant would include its suppliers, competitors, customers and marketing intermediaries. On the other hand the macro environment of this restaurant is comprised of economics, demographics, nature, politics, culture and technology (University of London, n.d.). So, it can be stated that the marketing environment of this restaurant is the combination of all these factors. Proper analysis of all these factors would enable the organization to create and maintain healthy and effective relation with its suppliers and customers, to have clear idea what its competitors are currently doing, to clearly understand the current tastes, needs and wants of the customers and