Contents

• Introduction
• Q1. Global industry analysis of catering
• Micro Analysis
• Macro Analysis
• Strategic Analysis
• Q2. Introduce a new product /service based on the opportunities identified from the analysis undertaken in Q1.
• Q3. Identify an appropriate segmentation and targeting strategy for the new product \ service.
• Q4. Appropriate marketing strategies for new product or service using portfolio tool
• Conclusion
• References

Description

To survive in this era of cut throat competition, marketing management is very necessary. It enables a business to function properly. The process of developing strategies to penetrate the market better, so as to reach the desired customer segment. It also includes planning for the products or services such as, advertising and promotional activities. The purpose of marketing is to increase the sales volume and to maximize profits (Olson et al ., 2018. P. 70).
The catering industry of United Kingdom, has witnessed massive expansion by every means. The industry has experienced 2.4% annual growth and has the highest labor productivity, along with more than 50,000 workers. The catering industry contributes to the nation’s economy more, than any other industries.