Gourmet Pasta Brand Analysis

Name- Charanjot Sethi

Introduction:-

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As I have done in the first assessment how to prepare the audit for gourmet Pasta and in this assessment I am going to do conduct a audit to see progress of that business and I would use all this sales records and their financial records that has been increase or decrease by the last one year or two years. The many types of pasta in your kitchen have traveled a long road. Soon after early man began to plant grain, woman began to grind flour; shape or cut lumps of dough, and throw them in the soup. Thus was pasta “invented” at different times and in different parts of Asia, the Middle East, and the Mediterranean Scholars and others have traced-and imagined-lines of migration and influence, but they look more like fussily than spaghetti. Along the journey from prehistoric dumpling to tagliatelle al ragù, neat timelines are few; the most rewarding route will be a tour of scattered highlights.

• Conduct an external audit:-

Data and information is classified as their qualitative or quantitative. As that gourmet Pasts Company was using flyers in local letterbox but that was only junk mail anyway. It can be easily to measured and analysis to determine quantity or extent of factors being investigated.

Quantitave data is focused on words and observation not numbers. as that pasta company gives us their sales records for that year of 2009 which are showing that how was their sales going on into that time in the market.

External audit:-

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EXTERNAL AUDIT is an audit conducted by an individual or firm that is independent of the company being audited. These independent auditors audit the books of a company generally once per year after the completion of the company’s fiscal year. Their role is to give an opinion of the financial statements reflection of the status and operations of the company being audited. Based on what they witness during the audit they will also produce, for management and board utilization, a management letter. Although a financial statement audit is the most common type of external audit, external auditors may also conduct special purpose audits which might include; performing specific tests and procedures and reporting on the results, a less intensive review, and compilations. An external marketing audit covers issues such as economic factors, demographic factors, technology factors and legal factors.

• Economic factors: – gourmet pasts company thinks about their sales that has a big change from last years and they are not having a up to date staff that who could provide all the information as they mentioned in the case study one of their staff member do not know how to attended phone call for the take away orders and that effects the business most. They are not achieving short, medium and long term expectation of their business in regards of their staff and their credit availability.
• Demographic factors: – according to the demographic that area has most of the people between age group of 25-50, and young professional who live close to the location and their income over $60000. I think they have to be careful because they are getting trouble with their competitors that next to them and they all are busy all the time that affects a lot on gourmet pats restaurant.
• Technological factors:-gourmet pasta have problem about their parking area that have big impact on people having access to the restaurants at night. They should provide new products and they could change their names according to their types. They could start doing online services and need to update their business and services that they are providing to the customers.
• Legal factors:-according to me they have to follow the rules and regulation according to the government if they changing their price list they should mentioned in advance to their regular customers because it impact the business lot. They have to keep in mind what are the new rules and make sure they are following them according to the government.

External micro factors:- those factors that meet audit requirements include:-

• Market characteristics:- that is the trend of market for restaurants is headed towards a more sophisticated customers. The restaurants patron today relative to yesterday is more sophisticated in a number of different ways. As now days the preference for high-quality ingredients is increasing as customers are learning to appreciate the qualitative differences.
• Customer need:- sarto’s pasta is providing with a wide selection of high-quality pasta dishes that are unique and pleasing in presentation and utilize top-shelf ingredients. Sarto’s gourmet pasta seeks to fulfill some benefits that are important for their customers.
• Competitors factors: – as the owner of pasta restaurant explained that their competitors, had built a large 30 seat outdoor eating area and that it seemed to be full every time he went past and looked in and also one of the franchise chains, pasta bite, had opened up in the adjacent suburb giving the local customers greater options in pasta.

Conduct internal audit:– Internal audit is a dynamic profession involved in helping organizations achieve their objectives. It is concerned with evaluating and improving the effectiveness of risk management, control and governance processes in an organization.
To do this, internal auditors work with management to systematically review systems and operations. These reviews (audits) are aimed at identifying how well risks are managed including whether the right processes are in place, and whether agreed procedures are being adhered to. Audits can also identify areas where efficiencies or innovations might be made. Internal audits are organized under an ongoing program of review and advisory activity this is based on the strategic needs of an organisation. In the course of their role, internal auditors work across all areas of an organisation. In addition to core areas of financial control and IT, they review the tangible aspects of operations, such as an organization’s supply chain or IT systems; as well as more intangible aspects such as organizational culture and ethics. In fact, any system that has an impact on the effective operation of an organisation may be included in internal audit’s scope.

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The criteria to be used:-in the internal audit we are focusing on sales analysis, SWOT analysis, product development, profitability and efficiency. they all are mentioned below:-

• SWOT analysis:-a swot analysis examines the strengths, weaknesses, opportunities and threats for the business.

As we strengths and weaknesses are factors that are able to control by the business. They both need to be consider from the perspective of the customers and should only be assessed based on their ability to assist or prevent the business in meeting market needs. Opportunities and threats exist independent of the business and are often beyond its control.

Pasta company owner has to match internal strengths with external opportunities to create the best competitive advantage.

• Sales record:-as the company financial record staff member gave me the detail about the actual sales of 2009 which is below:-

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4. Functional efficiency, internal interface and:-

Gourmet pasta restaurants owner need to make sure that their relationship between sales and marketing are good and they are working effectively or he need to bring some changes in. to make sure everything working properly he need to check all the service are up-to date and products and their technological skills are changed according to the new time basis. He should know that their staff members know all the service how to answers on the phone and how to serve people with reasonable manners and that would impact his business with positive way. He should know about all the problems that are happening into the business and he need to consternate on them and they need to be fixed such as manufactured, fiancé, purchasing and new product development.

Marketing system:-

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Marketing system is a set of procedures and methods designed to generate, analyze, disseminate, and store anticipated marketing decision information on a regular, continuous basis. An information system can be used operationally, managerially, and strategically for several aspects of marketing.

A marketing information system can be used operationally, managerially, and strategically for several aspects of marketing.

We all know that no marketing activity can be carried out in isolation, know when we say it doesn’t work in isolation that means there are various forces could be external or internal, controllable or uncontrollable which are working on it. Thus to know which forces are acting on it and its impact the marketer needs to gathering the data through its own resources which in terms of marketing we can say he is trying to gather the market information or form a marketing information system. This collection of information is a continuous process that gathers data from a variety of sources synthesizes it and sends it to those responsible for meeting the market places needs. The effectiveness of marketing decision is proved if it has a strong information system offering the firm a Competitive advantage. Marketing Information should not be approached in an infrequent manner. If research is done this way, a firm could face these risks:

1. Opportunities may be missed.
2. There may be a lack of awareness of environmental changes and competitors’ actions.
3. Data collection may be difficult to analyze over several time periods.
4. Marketing plans and decisions may not be properly reviewed.
5. Data collection may be disjointed.
6. Previous studies may not be stored in an easy to use format.
7. Time lags may result if a new study is required.
8. Actions may be reactionary rather than anticipatory.

And the owners of that business have to control all those kind of risk and problems that affect the business.

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Marketing productivity:-

Measuring too much can be as bad as no measurement at all. ECI will assist you in navigating through the data and research maze of marketing analytics. The result of our data architecture audit is clearly defined key performance indicators that explain and clearly correlate to long- and short-term marketing and business success. To secure transparency and up-to-date overviews of your marketing performance we will support you in the implementation of extranet and dash-board solutions.

Technology will not only increase productivity in the day-to-day marketing process, but also secure ownership of information and models related to your significant marketing and media investments. The system will track your investments from allocation of funds for marketing – all the way to the profit and payback. The output of the process will be clear input to future briefings.

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