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Bachelors Capstone in Management

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Sharon Ragusa;Bachelors Capstone in Management;MT499-01;Unit 3 Project;Instructor: Ernest Norris Jr.;February 19, 2011;Develop a marketing plan is a problem-solving document. Skilled problem solvers;recognize that a big problem is usually the combination of several smaller problems. The best;approach marketing planning is to solve each of the smaller problems first, thereby dividing the;big problem into manageable pieces. Your marketing plan should take the same approach. It;should be a guide on which to base decision and should ensure that everyone in your;organization is working together to achieve the same goals.;The marketing plan for my Coastal Bistro starts by targeting my market- who are the;customers? Those would be the local residents that live within in the community and targeting;the tourists so they can see and enjoy the Coastal seafood and New Orleans style food that we;have been known for and pride ourselves in. We will be selling to the people and hoping by word;of mouth that our business will grow. We will focus on our competition which would be the;chain restaurants such as Olive Garden, Red Lobster and OCharlies. I would not put my Coastal;Bistro near these restaurants as they are the competition and I want my customers to see my;business in an area where they have wanted a fine dining restaurant and therefore will choose to;eat at my establishment. The market for fine dining restaurants is very competitive here on the;Gulf Coast and the seafood industry has taken a turn for the worst since the oil spill. I want to;regain that trust from the local people as well as the thousands of tourists that visit our area every;year.;The environment is a marketing factor that will affect my fine dining bistro as the oil spill;has made it difficult for even the local consumers to trust that the seafood is safe. My restaurant;will get the seafood locally and not venture out to other states for the products that we will be;serving to our customers. Buying locally will help the economy in our state and help our state;grow stronger, providing jobs and the trust back that we once had a year ago before the oil spill.;We would need to compare our product to the competitors and price our food within a;middle class familys budget. We will have to create unique features such as an area for the;children to be at while the adults can spend a worry free fine dining environment without the;cigarette smoke. The Coastal Bistro will be known for the non-smoke environment that it will;provide. Knowing that there is no smoke to endanger your health or the health of your child;should bring in more customers than the competitors.;A plan for how we will get our food and our supplies for the restaurant will be a factor;that needs to be planned out before we even build the Coastal Bistro.;The benefits of a market research are the communication and the ability to learn about;potential clients, who they are and what they want the most. Nothing improves communication;skills better than a little person to person contact. The opportunities check the competition. Are;they missing something you can capitalize on? What can you do better than they can? Are your;clients in need of something nobody else is offering? Risks Just like any situation, if you come;prepared you will be less likely to loose and more likely to win. Create benchmarks to help you;measure progress. How well are you doing? By setting the standard high from the start, you will;be in a better position for sustained growth.;Your marketing mix is a combination of marketing tools that are used to satisfy;customers and company objectives. Consumers often call the marketing mix the offering.;Your offer is controlled by the following variables often referred to as the four Ps in marketing.;Product;Price;Place (Distribution);Promotion;By using variations of these four components you have the ability to reach multiple;consumers within your target market.;Creating a successful marketing mix that will increase results often takes experimenting;and market research. There are many methods that can be used, both in person and the use of;impersonal presentations. The key is to not always depend on one mix always explore other;avenues. The combining and coordination of these elements will be more effective than;depending on one.;My Coastal Bistro will focus the marketing Ps on the local people and cater to the tourists;with our unique seafood and steak dishes that will bring people back time and time again. The;non-smoking environment will attract people from all cities on the Gulf Coast, as the only county;on the Coast that offers non-smoking in their restaurants is Harrison County. People will be;driving from Jackson County, Hancock County and hopefully word of mouth will travel to;Mobile and even New Orleans. There are still quite a few non-smokers that cant enjoy going to;a fine dining restaurant anymore because of the smoking side of the restaurant. Smoke travels;and is irritating to non-smokers eyes and just makes the environment bad and unhealthy. My;Coastal Bistro will not only have great cuisines and dishes but will also advertise highly that it is;a non-smoking restaurant. The environment will be healthier and hopefully will attract a lot of;customers because of the non-smoking area that we provide.;References;http://www.bizmove.com/marketing/m2h.htm;http://buzz.greatfxbusinesscards.com/benefits-of-market-research.htm;http://marketing.about.com/od/marketingplanand strategy/a/marketingmix.htm

 

Paper#33180 | Written in 18-Jul-2015

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