Oporto is well -known Non-veg and fast food restaurant, situated in Australia. The word “Oporto” is derived from the Porto which is the second largest city of the country. It was first established in the year 1986 by Antonio Cerquiera. It is a best place for chilling out with friends and family for experiencing Portuguese chicken and special chili sauce. The restaurant constantly growing in terms of success and growth in the country and has established their brand value among the customers. The company used their marketing strategy in order to attract the consumers from their reasonable price and best quality food services. The exotic location of Oporto is also a great source of promotion of their business that may help them to sustain long term growth in a food industry. For the purpose of marketing, they used charismatic logo such as “Just Gotta, Go”. They are also making continues efforts to gain mission and vision of their business. The Marketing audit of Oporto is helped them to expand their business in New Zealand, India, Vietnam and Europe. The performance analysis of segmentation, targeting and positioning of a company like Oporto helps them to captivate the consumers.
Overview of Marketing Audit
The Marketing audit is identified as systematic and detailed observation of the marketing environment that tends to change by external and internal factor of an organisation. The comprehensive framework of marketing audit has been identified since the late 1960s. The diversity and complexity of business environment stressed out the businesses to meet their goals and vision of long term success. In the year 1967, the concept of marketing audit was first identified by the Kotler and gives boarder definition to it, that would be helpful for addressing the fundamental issues of marketing and business environment. The publication of most famous book named” The Marketing Audit Comes of Age” was a pivotal moment of emergence of the marketing audit. It is a most suitable tactics that will help the businesses in order to recognise and review the existing performance of business activities that helps them to maximise profit. It helps the company to understand the marketing perspective, expectation and demand of the consumers, internal and external market situation etc. are some of the factor that helps the company to anticipate marketing decisions.
Elements of Marketing Audit
The detailed analysis of marketing audit recommends the organisation to improve their efficiency and productivity to survive in the competitive market. These marketing audit is utilizing by the Oporto to improve their operational performance in the market.
The important elements of Marketing Audit include:
- SWOT Analysis: This will help the Oporto to identify the positive factor that may open the doors of opportunities for them by diversifying food products and beverages brand in the market. Due to lack of creativity and innovation in their product may create barriers to sustain growth. However, it is required to identify the preference of the consumers to meet their demand by giving nutritional information of services. The associated threats with the business in terms of technology and unpredictable occurrence of natural Therefore, it is very crucial for the business to ascertain the calamities is the alarming situation for the food industry, associated risk that may harm their performance and direct them to frame the effective plans in order to overcome those challenges.
- Company Analysis: The head office of Oporto is located in Chatswood, New South Wales, Australia. They offer wide variety of products like snacks, Chilly sauces, chickens, burgers etc. They give equal importance of the suppliers, franchisee, employees and other individuals who are responsible for the continues success. It helps to boost the morale and confidence of its members and leads to satisfaction among the members. The Company is strategizing to establish new stores in the International market.
- PESTLE Analysis: The political stability in the country invites the foreign food industry to open the new stores of food products to avoid the threats of uncertainty in future. The outbreak of Covid 19 has drastically affected the economic growth of the Australia due to which their GDP witnessed the major fall of 6 percent. This economicdownfall in Australia may negatively affect the earning capacity of the Oporto restaurants. The social factor has been adversely affected due to unpredictable event of Covid pandemic because people starts following proper sanitization methods and due care for preventing themselves from the infection. The formation of food related legislation such as Fair Work Act of 2009 burdened the food industry to strictly comply with the safety provisions. The technological change in an economybrings innovation and creativity in manufacturing of food products. It also facilitates effective communication with the consumers through various platforms and application that can be possible through internet and application that promotes marketing of business. The legal formalities are extended in Australia which bound them to comply with the rules and code of safety standards. The Environmental factor is required to be analysed in order to balance the ecological system so, that company can meet sustainable performance of their operational activities.
- Competitive Analysis: With the help of marketing audit, the main competitors of a business can be identified. The famous food industry Oporto, is a competitor of KFC and McDonalds, as both are dealing with the same range of products. However, KFC is a first restaurant that was established in Australia. It serves more than 3 million customers across the nation and provides KFC chicken, burger, French fires etc. Whereas, McDonald's is largest fast food supply market chain in Australia that provides easy take away facilities to its consumers. Therefore, the competitor's analysis of marketing audit helps them to frame effective plans and policies to easily survive in the competitive market.
- Customer Analysis: It is believed that consumers are the ultimate king of the market. The choice and preference of the consumers plays significant role to achieve the growth and expansion of business. However, the Oporto attracts the teenager and youth population form their services and serves them wide variety of exotic taste to satisfy their needs.
Marketing Mix Audit
It involves various factors that directly influence the consumers to buy the food products from the Oporto.
- Product: It refers to the diversified products such as Portuguese chicken, burger, chilly sauces etc. This marketing strategy is used by the Oporto to attract the young generation in order to stand out in the market.
- Price: It is another significant factor that convince the consumer to buy their products because of its reasonable and affordable price rates. This strategy is used by the company for providing them special offers, discount facility to its consumer in order to gain advantages over the competitors.
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Mostly Asked FAQ's by the students:
What are the essentials elements of marketing audit?
The main element of marketing audit includes PESTLE analysis, Competitors analysis, PESTLE analysis, SWOT analysis etc.
How marketing audit can be done?
It should be done in four phases that includes: comprehensive, systematic, independent and periodical audit.
How Oporto strategies their marketing plans?
Oporto, is one of the leading food brand in Australia that is planning for expanding their business in the international marketing by using effective marketing plans and auditing strategy. It targets the teenager ad young generation from their tasty and quality food services.