The paper “ The Forces Affecting a Product’ s Chance for Success, Interpersonal and Personal Determinants Influencing Consumer Behavior in Marketing a Product" is an affecting example of an assignment on marketing. A useful business environmental scanning tool is PEST Analysis where the influences of political, economic, social, technological effects on business are considered. For the Aegean Sea Express – Greek Take Away restaurant, the impact of these forces can be as follows: Political – Political impact on this product is rather low. However, with issues like terrorism people are going out less and new trends of “ cocooning” and staying in are emerging.
Thus, take away and home delivery of food businesses may have a positive effect. Also, the US emigration policies will influence the number of Greeks migrating and settling down in the USA. In the long run, this too will have an influence on the business, if plans for nationwide expansions are considered. Economic- The country is undergoing an economic crisis with the Wall Street collapse and many major banks facing financial difficulties. In the face of such depressive economic conditions, the consumers will be more price-sensitive and opt for taking away food instead of dining in food.
However, it is important to price reasonably in the takeaway category. Social – The trend for the increased urban population, single parents and nuclear families, unmarried singles, etc, all affect positively towards the takeaway food business. Technological – With the increased use of the web and other telecommunication means, the awareness of customers of available restaurants and locations has increased. This has both positive and negative effects on the business as it brings in customers for the business but also creates competition.
New technologies aid the business to use state of the art modern kitchen equipment to deliver quality fast. This will benefit the company. Within the Competitive Environment who are some of this product’ s competitors? Direct competitors: Other fast-food restaurants such as Mc Donald, KFC Sandwich bars and coffee houses Other Ethnic foods take away restaurants – Chinese/Korean/Italian, etc. Secondary level competitors: - Dine-in restaurants- What are some Ethical Issues related to this product? Fast- food and take away foods are associated with unhealthy eating patterns especially due to high-fat contents and also the fizzy colas on offer with the menus.
Food is ideally to be healthy and fresh and home-cooked. Aegean Sea Express will need to address these ethical views. How would you use the Internet in the marketing process? The restaurant can have its own web site as well as be listed in some of the online directories that provide surfers with maps, location details as well as ratings for best restaurants in town. While the own website can be an interactive site where information on Greek cuisine, recipes, etc are available.
The site can also be used for online ordering and run promotions. What are some Security and Privacy Issues regarding e-commerce? If the Web site is an e-commerce platform where customers can place orders and make payments, then their credit card details will be recorded. The privacy and confidentiality of this information must be assured. In the same manner, security to the system has to be provided where hackers cannot exploit the system and steal information. Another security issue is that some customers practice what is termed as “ chargeback” when using credit cards which the site should be protected against.