Competitor Analysis and Business Strategy
There are two competitors located in the St Lucia area. One of these is the Thai Treasure Restaurant. The restaurant located on the Sir Fired Schonell Drive which is the one of the main road in St Lucia. The products they are selling mainly relate to the different curry dishes. Their product’s prices belong to the middle range price. The opening hour is 5pm to 22pm from Monday to Saturday. They do takeaway and dine service in B.Y.O. They accept all the credit card accepted. The other competitor is the Bangkok Delight. They provide dine in, take away and home delivery. The restaurant located on Hawken Drive. Their menu has different list with lunch and dinner. They have the lunch special dishes but the dinner’s price is higher price. They accept minimum of $13 for credit card. They opening hour is 11am-2:30pm for lunch and 5pm-9:30pm for dinner.
First of all, the target market of our restaurant is the student. The products that we sell must attract the students to choose our restaurant. The product advantage is the serving sizes. All the dishes will be small, medium and larger size for customer choose. Compare with the competitor that only one size of the dishes. The dishes waiting time is the other advantage that compare with the competitors. The time that from order been confirm until customer get it no more than 15 minutes. Customers usually get between 30 minutes to 1 hour break. Saving the time for get yummy food is the other advantage compare with competitors.
The promotional strategies that we use are the “Student Special”, “Family Special” “Student Special” will use for dine in and takeaway. The time is both lunch and dinner time. If students show their student ID cards that they can spend $1 for any drink. Also, they can get $9.95 for the dishes for lunch special. For the dinner that the entire student can get 20% percent off with the student ID card. “Family Special” that is...
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