What is the best strategy?

Wentao, Feng and Yaghoubi, Reza (2017) What is the best strategy? Applied Management Conference, Wintec, Hamilton, New Zealand, 30-31 October 2017.

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The research question of this study is “What is the best strategy for Momento-Uni, especially in holiday”. Momento-Uni is a café and restaurant which is located in the Waikato University in Hamilton. In this study, it is aim to develop and identify a proper strategy for Momento-Uni to create competitive advantages and increase its sales in normal period of time, furthermore, a specific strategy also needs to be developed when there is a holiday period to balance its loss and profits. On the other hand, because of the special location of the Momento-Uni, the strategy needs to be created for its sustainable and long-term development and its unique marketing position. In this study, a mixed research method is used which includes quantitative and qualitative study design and observation. A questionnaire is developed to collect the information and data about the customers’ evaluation and recommendation for Momento-Uni’s service and products. An interview was held with their manager to understand Momento-Uni’s business goals, current situation, internal working environment and future development. The observation was developed by the researcher to evaluate their competitor and internal working issues. As a result, it shows that the main customers are students from 18-30 years old and coffee and drinks and snacks take up most profit of the whole sales. Through the result, a focus strategy is developed because students are the mainly targeted segments and to meet their needs. However, Momento-Uni does not have a clear differentiation and cost-leadership strategy to meet customers’ variable needs. As students do not have a high consumption level, in the future, the challenges will be existed. The results also shows that in holidays, the number of customers are declined steeply which increase the difficulties in the future growth. According to the results, it recommends that Momento-Uni needs to develop a clear strategy with differentiation and cost-leadership strategy to offer customer differentiated service and products, creates its products varieties and improve its service quality. For the customer psychology and behavior, by better understanding the potential thought, feeling and intentions of the customers, a proper strategy needs to be developed about validation of existing insights and the creation of new and novel insight to follow the marketing trend to increase its marketing competitiveness. For the human resource management, Momento-Uni needs to have a reasonable staff management during the normal time, especially in holidays, the opening hour for each site in holiday will be adjusted, Lake site and Ms2 site will be closed in a few weeks. Lake site always have overmuch staff, the staff in lake site will be reduced in normal time. For the future growth, the new working policy and business plan will be developed and improved to achieve its business goals for the future success.

Item Type:Paper presented at a conference, workshop or other event, and published in the proceedings
Keywords that describe the item:business, sales, marketing
Subjects:H Social Sciences > HF Commerce
Divisions:Schools > Centre for Business, Information Technology and Enterprise > School of Business and Adminstration
ID Code:6030
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Deposited On:20 Jul 2018 03:06
Last Modified:20 Jul 2018 03:06

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