For a Social Venture, for example, a restaurant to feed the homeless, what could be the Beneficiary/customer segment, Marketing Strategy, and Promotion?
For a Social Venture, for example, a restaurant to feed the homeless, what could be the Beneficiary/customer segment, Marketing Strategy, and Promotion?
Restaurants can play an important role for eradicating hunger among the poors and needy people. The strategies which should be followed by social entrepreneurs dealing in food industry are explained below in the following points:-
1. Formulation of an effective Marketing Plan : The restaurant should focus on formulation of a marketing plan which apart from targeting its customers takes into account the social factors like donating certain percentage of its food to the poor people which will also build the Goodwill of the restaurant. There should be a proper market analysis and research to know about the different income groups prevailing in the market ranging from low to higher income groups. Marketing strategy of restaurants should formulate waste management techniques and from it can set targets of donating food to the needy people.
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