Chesapeake Bay Marketing Strategy

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Running head: Pricing and Communications Strategies 1 Pricing and Communications Strategies for the Southern Point on the Chesapeake Bay Keisha R. Walker Professor Yolanda Humphries Marketing 402: Strategic Market Pricing November 4, 2013 The Southern Point on the Chesapeake is a casual dining restaurant and bar located in Chick’s Beach, a Virginia Beach community. The restaurant is owned and operated by four sisters. Two are professionally certified in the culinary arts, one in business administration and the other in business law. Additionally there are 5 full-time and 6 part-time staff members. The Chick’s Beach area is known to the owners as a second home in spending summers here with their grandparents. What was once Lillian’s;…show more content…
The strategy permits price adjustments quickly and in smaller increments in order to maintain balance between profitability and price-sensitivity. According to Kanagal (2013), The psychological values … refers to ways that a product or service creates satisfaction and delight for a customer through psychological parameters, and have to be assessed for a given marketing offering and monetized to enable obtain the differentiation value. Psychological value could also be imputed to those marketing elements which have no direct monetary implication but provides a value to the customer. (p.84) The differentiation value offered by The Southern Point is highly psychological however we will emphasize our diligence to utilize local vendors and provide meals with fresh ingredients to speak to the customer’s monetary value as well. The factors we have identified in the pricing strategy will also help us to shape meaningful messaging to customers. These efforts executed properly will allow the business to secure higher sales prices and in turn offer matchless…show more content…
11 a.m. to 11p.m F-Sat. 11 a.m. to 2:30a.m., Sun.3 p.m. to 9 p.m. The Southern Points menu consists of familiar and fascinatingly elegant beef, seafood, chicken and vegan recipes from ingredients that arrive fresh to our door from local vendors. Our bar carries 53 liquors, 12 beers (three local) and maintains a cellar of 200 bottles of wine. We pride ourselves on bringing you delicious food and a comfortable, relaxing encounter. Our full-service staff boasts professionally trained Poissonier, Sous and Pastry chefs. Our love for cooking with Grandma turned into a passion we would like to present to you. Eight glass-walled, private dining rooms are available by reservation for a more exclusive meal. These rooms are arranged to accommodate groups of 4-25. Allow us to help you with the right setting to host your retirement, engagement/wedding and other gatherings. The second floor dining room is for patrons 21 years and older. The classic Jazz, Blues and R&B dining lounge features white linen settings, a full bar and dimmed lighting. A live DJ will be your host during the meal and rest assured the music will move

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