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International Marketing

Executive summary

Our product, the E-waitor, is a small, light-weight hand held ordering system. Our target market is upscale, independent restaurants within England. We have chosen this segment as we believe that our product is of a high quality and efficiency which the patrons expect, it will also bring prestige and a good reputation to the restaurant.

Our product will be sold from leading kitchenware sellers, as well as through direct order. The price of this product ranges from $250 to $500, depending on the number of devices and size of restaurant. Our devices themselves will act as a promotion of the product, advertising will also be done through catalogues and displays at professional conventions.

The main strengths that our product has are that it will save time for business and its customers, more efficient service and less expenses incurred by restaurants for staff. However, this is also a weakness as the restaurant will lose its face-to-face service with customers. The opportunities that this will bring to our company will be that we will have a first mover advantage in England, advancement in technology and also the possibility of alliance with other companies. Threats are also incurred with this as it will be an unknown product and also unknown company. There is also a high failure risk as we are introducing a new product market. Competitors are also a risk as there are a few, however, they are not within the European market.

With our market forecasting, we are hoping to have at least 10% market share within the first year. Our action plan that we have created shows that we aim to have our product on the market within four months, we will then focus on sales of our product over six months in order to achieve our 10% market share. We will then conduct an evaluation of our product, making changes if needed in order to better serve our customers.

Our financial planning shows that we aim keep our expenses low, in order to make our product...