Strategic marketing Maxim’s Caterers
Maxim’s caterers limited it is a Hong Kong-based food beverage and restaurant jointly owned by Hong Kong caterers and Dairy Farm International Holding Limited. Maxim’s caterer’s limited company was started by S. Wu and James Wu in 1956, operating in over 1000 outlets in Cambodia, Vietnam, China, and Hong Kong. Catering business in Hong Kong is entering into a mature stage because of the improving living standards of the Hong Kong people. In the contemporary world, organizations like Maxim’s caterers limited are facing exciting and dynamic challenges. There is fierce competition in the catering industry, making the market to be hostile and complex. Therefore Maxim’s caterers need strategic thinking by and only evolving good strategic fit to become strategically competitive in the globalized business. The aim of this is to justify how Maxim’s caterer’s limited company presents an excellent strategic fit through analyzing organizational resources, adapted strategies, and resources needed to implement the strategy.
Strategy is complex web of thoughts, experience, idea, goals and expectations that guide specific actions in pursuit of a particular end. When a company implements a value creating strategy that other organizations find it difficult to copy because it is too costly to imitate then it gains a sustainable competitive advantage. When talking about marketing fit it simply means talking about organizations commitments, decisions and actions required by the company to achieve strategic competitiveness and increase its revenues. The goal of strategic fit in catering industry are usually challenging for both small and large catering companies.
Organizational resources suited for the markets in which Maxim’s caterers operate
Strategic fit is continuous ongoing process that extends companywide over a diversified company business. It is a company spanning planning activity considering all the elements of micro and macro environments of the Marxism’s caterer’s limited company.
Maxim’s caterers have presented a good strategy for how it has organized its organizational resources to achieve its organizational goals. The company has managed to keep pace with the changing environment. This is because today’s business environment and is changing fast therefore making it very difficult for any business that is modern to operate. This is because the environment has various uncertainties, constraints and threats making the catering industry to have more pressure of trying to find out ways and means of survival. Maxim’s caterers have managed to make use of its human resource and capital resources to help the organization explore the possible and available opportunities through research. The company has invested in research and strategic planning which them in to achieve an optimum level of efficiency by reducing the expected threats. The company has managed to mobilize all its organizational resources to come up with strategic plan that has seen the company achieve its mission and vision. The company does this because the younger generation in Hong Kong is more than willing to pay any amount of money as long as they receive quality services. There the company through its human resource realized that for it to prosper it needs to improve its service differentiation strategy. The company through service differentiation strategy managed to add more services that better fit their consumer needs to their total offerings. Additionally the Maxim’s caterers limited has managed to minimize competitive advantages by adding up more to its competitive advantage. For instance Maxims realized that other firms in the catering industry are making more money in the market so the company had to venture into new fast moving goods that help them to reap heavy profits. The company was key in introducing coffee to capture new consumers and attract more buyers of their services. The company managed to introduce new products through utilizing their capital resources and raw materials available.
Strategies adapted to the needs and requirements of the market
The company has adapted the use of competitive positioning and market segmentation for consumers which are the distinctive part of the marketing strategy. Competitive positioning and segmentation of markets plays an important part in helping Maxim’s caterers satisfy their customer’s needs in ways that are seen to be more superior to their competitors. In response to market segmentation the catering industry has managed to gain a competitive positioning by strategically positioning itself in Hong Kong market. The organization is well situated because of its geographical position in the market. The organization is offering different types of products to suit its different segments in order to cover all their customers. The main reason for market segmentation is because customers in the catering industry are different from each other and it is impossible to serve all of them due to limited resources. Maxim’s caterer’s limited company has put all its resources on specific segments to meet the needs of their target customers in order to increase their competition. The resources have driven the Maxims caterers to find gaps in their targeted markets both local and overseas that are not yet served. The strategy has helped the catering company to cover al, their agendas by not considering all the genders and age and providing all their needs and wants. Competitive positioning and market segmentation strategies are the best strategies that the company adapted to ensure they improve company performance. The strategies are keen in ensuring that it has managed to displace all their competitors in the market. The company has managed to work on their pricing, quality of products and fulfilling customer’s desires.
Organizational resources needed for implementation of strategies
Maxim’s caterers mobilized its human resource, financial resources and raw materials to implement its Competitive positioning and market segmentation strategy. Through human resources the company has been able to plan everything necessary to achieve its organizational goals. The company usually employs highly experienced employees that are able to work and ensure the organization has served all its customers. The company has invested in its employees as their most important assets because they contribute to organizations efficiency functioning. The employees of maxims caterers are considered to be the service men and women in all the catering industry. This plays a vital role in attracting customers from all over Hong Kong and even globally. Additionally the company has done proper allocation of its financial resources by allowing managers to put together more productive and workplace groups or teams. Proper arrangement of teams and managers enables organizational work to be well executed and performed. Financial resources help the organization to take good control of the activities that run in the company including paying wages to employees. The financial resources are important in mobilizing expertise that promotes strategic thinking and transfer of knowledge to improve the competitive advantage of the company in the market place. There is mobilization of raw materials by the catering company to ensure all their customers are well sorted. Raw material resources are one of the organizational benefits because it has managed to help the organization meet all the wants and needs of customers. Customers in every market require new products that are of quality and have better tests to sooth their taste. With the availability of raw materials the maxims caterer have managed in promoting the positioning and market segmentation strategy. This is because raw materials are critical in the expansion and growth of any strategy in organizations that need to increase their profits.