The STP strategy can be useful for the promotion of a new product. The new product is sharing plates or small plates. Small plates are becoming popular in the Western service food from the year 2000, as the small dishes are used for the serving; the customers like the appetizer in it and the customers like to order a la carte in it. The formal meal could be served in it. However, in the Hotel Wagamama small plates are being used, the hotel is based on the traditions of Asian food, which is inspired by the Japan. Moreover, new restaurants are more likely to use the small plates because customers are attracted in this way, so this product can be beneficial in the market, however, Wagamama can also promote its food by serving it in small plates (Wagamama, 2017).
Segmentation could be described as the cells or the parts in which there are clearly identifiable segments of the customers, as the marketer focus on the needs, wants, or demand of the various customers in the targeted segment and decide on that who will buy the product. Moreover, there is the effort to matches the expectations of the customers. In the case of small plates, the restaurants can be focused which have the trendy customers. There is the need to understand the best equipped to handle, moreover, the clear identification of the customers needs to know. There is need to focus on the effectiveness or the effective size of the customers in the market so that the plates could be given to the customers that focus on the promotional efforts and various resources of the company. The segmentation can be divided into four major groups that are demographic, behavioral, based on the geographical differences and the psychographic understanding of the customers (Weinstein, 2013).
For our new product, the companies like Wagamama can prove to be effective because small plates can be presented in the better way and the segment of the customers could be identified, the company Wagamama can focus on the customers or the customers’ segment that like the food in a new way or in the small plates. Sharing plates, small plates and sharing food can be liked by the customers have the close friends because they could enjoy with them, they can have the different options but while segmenting the company and product need to focus on the sensory explosion. The customer with the social experience will more likely focus on the small plates (O’Guinn, Allen, Semenik, & Scheinbaum, 2014).
The second stage of the STP is targeting, the customers need to be the target in this way by the selection of the segment or series, and the marketers need to focus on the target market by knowing the customers who do the efforts. For the targeted segmentation there is the need to do the marketing, however, the single segment can be a focus in the target market. Wagamama can target the customers, from the segmentation, as the customers could be identified and know after the segmentation done. Small plates can target the customers who are always motivated to buy the things that are trendy in the market.
For the position, the marketers refer to the place as there is the need to build the brand or product image in the mind of the customer, the products need to occupy space, in mind of the customer. In the case of small plates, the marketing needed to be done, products from competitors. Wagamama needs to make the position of the product in the mind of the customer. As, the position of the small plates need to be made in the mind of the customers, who prefer to eat the good food, with style, the restaurants can add the distinguishing features in the small plates so that there could be the suitable image and strong position of the product (Ramaswamy, 2013).
The innovation is the key to success, as the consumers need to be preferred on the choices, however, the customer focus on the wider variety in case of the restaurant. Therefore, the small plates can focus on the innovative food styles, so more customers could be attracted and the competitors come to know about the innovations that were done with the small plates. However, in this way, the demand for small plates can be increased in the market. Wagamama can make the freshly prepared food so that it look delicious, there is the need to add the ingredients and flavors, the presentation need be done for the food-oriented people on the television programming.
There can be the slow-roasted and the premium turkey sandwiches in the small plates, so the customer attractions could be grasped. Wagamama can make the wraps and salads and focus on the other menu item that tastes great for the customers. If there is the demand for the more food, there can be the maximum customers from the market, in order to achieve business objective the company needs to make its menu well so there could be the ease of operations and there could be the product development. There can be a lot of impactful innovations by the restaurants, the customer never going to sacrificing great taste, so there should be the increase in the satisfying dining experiences, by focusing on the nutritious choices the food that is served in the small plates. For the extra credit to the small plates, restaurant can give the fruit juice and bottled water with the food.
The value proposition could be defined as the product success that could be analyzed if the customers are satisfied, in the case of the small plates, there is the need of the customer value proposition so that the differences can be determined regarding the customers choices, the companies could get success in the service succeeds or fails. For the promotion of the small plates, the idea of value propositions, need to be the focus on the marketing so that the customers could be understood and willing about the existing products or services. Wagamama, for the value proportion of its customers can identifying needs in the marketplace and the needs and interest of the customers for the small plates, the products need to be a focus by the company, that serves a market need.
Prominent marketing can be effective in this way, as when the small plates are promoted, the company can do the product promises to deliver the satisfaction level to the modern customers, for the value propositions. There is the need to do the quick order fulfillment on the customer’s convenient location do that they come to know that there is the highest quality of the products and the product is given to them ate the lowest price. To add the more customer proposition there is the need to reply the customers, focusing on the 24-hour response times, there should be no minimal disruption. However, focusing on the customer’s demands will bring the ability to work for the Wagamama, so that there could be effective work with the client, during non-business hours, in this way, the attract thinking could be there and the value could be given to the target customers.
Positioning Of Product
For the positioning of the product or the small plates, the Wagamama can also promote its food by serving it in small plates, there can be the efforts in order to matches the expectations of the customers. However, to make the image in the customer’s mind, the company can focus on the promotional efforts and various resources of the company. by focusing on the new product, the company Wagamama can prove to be effective because small plates can be presented in the better way as the food could be innovative and the image could make in the targeted segment of the customers. Wagamama can target the customers, from the different segmentations. For the better image of the products, the marketing needed to be done, better than the products from competitors. Therefore, the company needs to focus on the position of the small plates need to be made in the mind of the customers, there should be the creation of the suitable image in the mind of the people through the marketing and strong position of the product.
Online Marketing Tools
Online marketing tools can prove to be effective for the business, as in the case of our product promotion, the small plates and sharing food can be liked by the customers, so there is the need to promote the food by in small plates by Wagamama on the social networks and reviewing the customer likes. However, Wagamama is the reputed brand across the countries so it will be easy to make the customers, by posting as well as reviewing social media updates. There is the need to focus on the Google+ company pages, in this way, the review conversations, messages could be tracked, and the extra reports could be created, in order to support the customers. The customer search behavior and the majority of visits can be known, it also leads and sales, the product can be promoted on Twitter, LinkedIn, Google+, Facebook etc (Tsai, 2013).
- O’Guinn, T., Allen, C., Semenik, i. J., & Scheinbaum, A. C. (2014). Advertising and Integrated Brand Promotion. Cengage Learning.
- Ramaswamy. (2013). Marketing Management. Tata McGraw-Hill Education.
- Tsai, A. (2013). The Small Business Online Marketing Handbook: Converting Online Conversations to Offline Sales. John Wiley & Sons.
- Wagamama. (2017). fresh, lively food (with soul). Retrieved March 21, 2017, from https://www.wagamama.com/our-menu
- Weinstein, A. (2013). Handbook of Market Segmentation: Strategic Targeting for Business and Technology Firms, Third Edition. Routledge.