Assignment 6 1) In asking my fellow acquaintances about opening a new restaurant in the next few months I got several very similar responses to the following questions…. -Would coupons be a successful promotional tactic to use in starting my business? - When would coupons induce you to become a repeat customer and when would they not? The group of people I asked were mostly between the ages of 30 and 40; all had families, and were of similar economic status. Coupons would be seen as a good promotional tactic in order to develop an initial business clientele.
As suggested, it is believed that implementing a targeted and focused expansion based on the current business model will accomplish the overall goal while managing the growth based on financial indicators and health of the business. It is through this approach that net income is estimated to increase 30+% annually as well as lead to new stores and further market share. The following pages will outline these statements further. Synopsis The owners of Sift, Andrea and Jeff’s background in sales have greatly added to their success in their small business venture. Sift has been able to identify and appeal to their specified target market of people between the ages of 25-44 years old and/or with an income of $80,000+.
Chris and Bob moved up to executive roles in the Bennigans restaurant group, and found ambition to create their own restaurant. In 1987 the two men asked Tim Gannon to be the restaurants chief chef, due to his background in previous food ventures. As the three men collaborated the design of the new place, a steak emphasis really took over. When the three men had come to their decisions they decided to go with the Australian theme due to the popularity of that culture at that time in the U.S. They also decided that steak places were a relatively untapped market in the U.S., and they saw it as a gold mine.
MARKETING 476: MIDTERM HBR CASE: PHILLIPS FOODS, INC-INTRODUCING KING CRAB TO THE TRADE Executive Summary Phillip’s Food Inc. is a seafood company who has recently began introducing a new product by the name of King Crab to the market. King Crab is a pasteurized crabmeat product that is new to the market. Phillips has a chain of seafood restaurants as well as products in retail grocery stores. Their food can be stored in the freezer, fridge, or even household pantries/cabinets. In Phillips first phase of the King Crab launch they decided to focus on trade magazines to find retailers as well as customers who are interested in the product.
After trying to be in several lines of businesses, Day decided to open Wang Steak, the high-end steak house in Central Taiwan. Due to its the success with Wang Steak, Day opened couples of branches of Wang Steak and decided to open two more steakhouses to target the bigger segments of customers. Day continued his strategic brand development with the further expansion, from a single brand strategy to the multiple brand strategy. To be able to enjoy economies of scale, Day realized that he had to create the different value propositions that offered different groups of customers with the different cuisine types. Till the end of 2011, the Wowprime group has offered 170 restaurants under 10 different brands for customers in the different age groups, income, professional categories, and purpose of dining.
The restaurant was opened as a means to raise funds to open a gourmet restaurant. Based on the success of the first restaurant, Ells opened 8 more Denver area Chipotle Restaurants by 1996. Mc Donald’s Inc. became a major investor in 1998. In 1999, Chipotle opened its first two restaurants outside of Colorado in Minneapolis, Minnesota and Columbus, Ohio. Mc Donald’s became the largest investor in Chipotle and when the company decided to concentrate on its core business, Mc Donald’s divested all
Chipotle Mexican Grill, Inc. (CMG) is a restaurant chain that competes in the fast casual segment of the restaurant industry. It’s founding dates back to 1993 in Denver, Colorado where its founder and current co-CEO Steve Ells goal was to reinvent Mexican Food. His vision was to change the way people think about and eat fast food. He set out to accomplish this by avoiding a formulaic approach when creating his restaurant experience. Chipolte uses high-quality raw ingredients, classic cooking methods and has created a distinctive interior design, where he wanted the restaurant to be like a dinner party, where everyone’s in the kitchen watching what’s going on.
Introduction Ruth’s Chris Steak House was a international business based on their famous steak. Dan Hannah is business development from 2004. His major responsibility is to develop new business around the globe. The company used growth of franchise and company-operated restaurants. In the following four parts, it will be answered by difference questions to analysis the case of Ruth’s Chris’ international expansion strategies.
Carl bought a food stand to sell food and soon enough, he had enough money to buy another food stand. Soon, a restaruant across the street from the Heinz farm went up for sale and Carl bought it. He called it “Carl’s Drive-In Barbeque”. Soon, Carl found out about Richard and Maurice McDonald had come up with a faster way of preparing food. These brothers created to assembly line and put it in their own restaruant, McDonald Brothers Burger Bar Drive-In.
Many of them leave before the lunch crowd starts at 11:30, yet, some remain until almost 3pm. This essay will concisely cover some of Lisa Aham’s concerns for marketing strategies with this flux of seniors and the image of her McDonald’s. Encouraging the Senior Market The senior market is growing in popularity at Lisa’s McDonald and is bring in revenue during the slow morning hours. Encouraging the seniors to frequent this McDonald’s would attract business and increase sales as a popular meeting place for this particular type of clientele. These groups of seniors do not pose any threats of overcrowding because they typically leave before the lunch rush hours hit.