Catering business is a very personal business in which relationship is the key to get customer. These networks are vital because consumers are looking to hire a catering farm that has been recommended or preferred by event managers or institutions. During the first 3 years Appetite Catering will focus on creating brand awareness which lead to product trial, to do achieve this goal Appetite Catering will depend on word of mouth and strategic alliance.
Appetite catering will enforce the brand name and main points of product differentiation, high end service in a lower price. Appetite Catering will advertise on pulsing basis to maintain brand awareness. We will advertise on newspapers and provide leaflets and banners in several areas. As catering business in mostly depends on word of mouth Appetite Catering will initially provide huge discounts in events to spread the name of the company.
Financial Plan? For the success of our catering marketing we have estimated and prepared a budget which indicates the costs that are going to be occurred in the upcoming year. Our budget is basically made for the indication towards the cost minimizing and proper use of the capital. This budget will lead us towards the success if we can keep our cost within the budget. So, proper implication of budget is mandatory for this success of our business. Before preparing a budget, the rational and logical applications are necessary, so that the budget could be utilized properly. First we have decided that we will start our business with the amount of 20 lacks Tk. Capital.
This take is funding by the owner of the company. But from this 20 lacks Tk. 5 lacks taka have been borrowed from the bank as a loan, which in eventually a liability for our company prospective. Here’s the estimated budget of our catering marketing: In any business competitor is an important external factor. In our catering business our Appetite Catering Service has got a lot of strong competitor in this Dhaka city. Our main competitors are Fakhruddin Baburche, khana Khajana, Muslim Catering service, Salam Catering service, Bikrampur Catering service & Kamal Hossain Catering service. There also a lot of catering firms, which are not so much famous & large like those one.
The main menu is almost same for every catering firm, but the difference is catering firms try to fill their menu with some new items, which may bring new flavor and tests. In these cases we have also brought some new items with new tests. And almost 80 percentage of our items have some specialty, which is differentiating us from others. For instance more or less every catering service has an item of ‘Shahi. Kacchi Biriani’ but, in spite of this we also have Pakistani Basmoti rice’
We have made our firm special in timing sector, every catering service are committed to deliver their foods with in 12 hours, but we have committed to our customer to deliver foods within 8 hours. Though it is an expensive strategy but we have chosen this to capture the main market share. One of the most important things in business is capital. Our giant like competitors has got huge capital. To compete with them we have also raised our capital by borrowing money from Bank.
Publicity is very important for any public related business. We did not notice any huge & effective advertisement program of any of our competitor. We have taken this advantage; we made some advertisement at news paper and banners. These are the strategy, how we are competing with our competitors and making difference from others. In Bangladesh Catering services may be classified as below: 1. Top class caterer 2. Middle and upper middle class caterer
3. Low priced caterer Top class caterer: Top class catering services are provided by the five star and four star hotels. Their services are being availed by the rich people of the society and generally during important official program, events, seminar, symposium etc. Sometimes wedding programs are also arranged by the wealthy people in these hotels and catering services are availed by them. Competitions faced by these catering services are for delicious, hygienic and high quality food. Competitive price in the menu is also one of the factors in selecting the caterers.
Middle and upper middle class caterer: Middle and upper class people take the catering services from the three star hotels for renowned private caterers like Fokhruddin caterers and catering services provided by International conference Hall and big community centers like Bangladesh China Friendship Centre, Shenakunjo, Darbar hall, officers club, ladies club etc. Competition faced by these caterers depends mainly for the comfortable accommodation, parking facilities and of course quality of food and price of their competitors. Low priced caterer: low priced catering services are availed generally by the common people and low salaried employees. These services are being provided by the restaurants, general community centers and private small caterers. Competitions among them lie in respect of pricing mainly in the menu or items of food.
Catering services should cover all sections of people. Because, purchasing power varies depending on income and living standard of different groups. This also depends on the locality where the particular groups of people are lived. Therefore, standard of catering should be based on locality, income and the section of people as well as their living standard.