Marketing Plan Project Research Paper Example | Topics and Well Written Essays - 6000 words

Marketing Plan Project - Research Paper Example join Arab Emirates has been enjoying modern, diversified and growing retail food sector over the years. Increasing development of new hypermarkets in last few years is the key number one wood for rapid harvest-festival in retail food sector. 90% of the total consumed food especially food ingredients s outsourced from markets and processed in this market. Therefore the domesticated firm has grand opportunities in food market of UAE. Consequently, the people have risque disposable income and for this reason they are real much reluctant to catch up with higher price for food if it is presented in a luxurious way and environment. Nevertheless, very few domestic businesses operate in retail food sectors as luxurious restaurant like multinational food chains present in this market. Therefore, future growth of this new business has been identified after fine analysis of business environment, market trend and consumer behaviour. The mai n objective its marketing strategy would be to position the brand as luxurious restaurant with a touch of western culture. ... Important macro environmental factors are political or legal, economical, social or cultural and technological factors of the market. Environmental analysis provides position overview and understanding of a specific industry in a specific market. Economy Economy has substantial impact on this new food business. UAE is an emerge economy which driven by multiple strength areas of it like per capital income, consumption power and consumption trend, enrichment in living style of people etc. Though the country imports 90% of its annual food consumption from foreign markets but it can be neglected as weakness of the economy if it compared with the huge export of oil. Growth and opportunity of restaurant business highly depends on the positive economic factors of this market like income level and consumption trend. Significant growth in gross domestic product is the overall positive aspect of this economy. Economic growth of major cities like Dubai, Kuwait, Abu Dhabi is average 2.9%. This economic growth leads high income and rising trend of people to adopt modern and luxurious food habits (Rncos, 2010,p.1). Legal This comp both will operate restaurant food business which is very much sensitive category of business. Legal policies imposed in comparatively higher extend in food businesses than any separate businesses in any economy. As a food processing business, it needs to follow the rules and regulations imposed by the government authorities regarding ensuring quality food to the people of the country. First, of all the familiarity must need to have food licence from the government authority to operate its business in legal way. This is special legal requirements for this apart from other mandatory legal procurements. On the other hand, political disturbance and