( Chapter 2)
Before starting any business, it is important to identify first the target market
and evaluate prospective location where the business will be establish. There so many
popular business restaurant in the industry. A concept in this market after the main
consideration relatively, identifying the market location is the most important
consideration on the top of the business plan. It is important to find location that has
no same business near convenient parting and it is necessary to revisit the business plan
to make sure you are close to your target market. The major reason for this study is the
writers own interest to set up an own restaurant business.
Everything starts with the desire to be more than you are today; a highly coveted brand, a fiercely dominant player, a more profitable entity, a better and more stimulating place to work. What will be your legacy and how will you arrive there? Efforts of massive change, it turns out, do not have to be massively painful processes. Done correctly, they can be accomplished through easy-to-understand actions - each triggering another set of actions - eventually evoking holistic change through an entire company that can send sales and profits rocketing upward. Every business deserves and demands a thoughtfully constructed plan for growing sales and profits - a restaurant marketing strategic road map that efficiently helps you reach the fullest potential of your company. We help you build it by developing restaurant marketing strategy in the areas of branding, positioning, culture, public relations, training, design, local store marketing, new store openings, concept development and an overarching restaurant growth strategy.
Today, effective restaurant marketing strategy develops competitor-proof relationships with customers, suppliers, employees and other key stakeholders through strategies that rarely, if ever, call for mass media. For a myriad of reasons, mass media vehicles, such as television, radio, newspaper, outdoor advertising and the like have lost their appeal and effectiveness to build these important relationships. There are far better ways to develop sustainable relationships and build profits these days; we help you find and implement them. (QUANTIFIED MARKETING GROUP)
market analysis - table shows that within a three mile circle 98% are families. This
is our customer base which we cater to.
Target Market Segment Strategy -Our focus is the upper income level families living, arriving and working in the area. Decada’s Favorito eatery. will focus on the income level of at least Php.10,000 and above, and the 98% families living, arriving and working in the area.
We focus on these specific groups because these are the types of people who frequent Decada’s Favorito eatery. They are the ones that are willing to spend their money on good dining and service at a value price.
Competitors charging and offering- You should compare your menu prices with your potential market competitors. Simply perform some market research these competitors and taking note of their menu prices. Use this competitive pricing analysis as test of reasonableness to determine whether your menu or prices are in the line. Population Base- There needs to be enough people who live in the area, or pass through the area on a regular basis to keep you busy. To determine the population Base of particular area, you can do a site study.
Parking Space/lot- Will there be enough parking to accommodate all these seats in your new restaurant. Ideally, A new restaurant location should have its own parking lot. If that isn’t an option, is there public packing of restaurant. Courtesy- A simple...
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