Tina’s Restaurants 1
Tina’s Restaurant
Rhonda Payne Frank Oliveira, Paola Bohorquez, Tommy Nguyen Fanshawe College
Tina’s Restaurants 2
Table of content SWOT Analysis
3
Competition Analysis
4-5
Customer Segmentation Analysis
Target Market Selection
Mission Statement
Location & Name
Pricing
8-9
Product
9
7
8
8
Marketing Communications Plan
Bibliography
6-7
11
10
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1. Tina’s SWOT Analysis Strengths
Passion for restaurant business Has past experience managing fine dining restaurants Has basic restaurant skills such as creating menus, creating new dishes, décor for restaurant, and customer service Diploma in marketing Financial ability
Opportunities
Weaknesses
Emotional attachment to restaurant business Parent’s restaurant had failed Tina is not familiar with ethnic cuisine
Figure 1. (Dover, 2014)
High average income in London Increase demand in ethnic food Demand for local food Health conscious food London has approximately 46000 students attending college and university, therefore more choices to pick for employee Full-service restaurant industry has been growing for the past four years (Figure 1) Threats
Many restaurants competition Hard to gain competitive advantage High property cost
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2. Competitive Analysis – The Keg Marketing Mix
Product
The Keg
Place
Promotion
Price
Main focus is steak Also offers seafood, chicken, ribs Offers an extensive wine menu and bar menu Has vegetarian and gluten free options available Offer sauces and salad dressing to buy Offers gift cards 2 Locations in London, South London and downtown Has a direct channel Quality, comfort, and value are key ingredients TV Advertising, bill boards, radios, newspaper Has the “The Keg Spirit Foundation”, a charity that focus es on the development of children and youth Website contains location, menu, and background Social Media: Tumbler, Instagram, and Facebook Guests can give feedback on The Keg website instantly Staff are required to be outgoing, knowledgeable and friendly Was awarded “Best Employers” in Canada for 2014 Starters: $9 - $13 Dinner Entrée: $20 - $40
Competitive Analysis: Moxie’s Moxie’s
Marketing Mix
Product
Place Promotion
Offers gluten-free menus and vegetarian options Offers variety of choices such as seafood, steak, chicken, pastas Offers more casual meals such as sandwiches, burgers and pizza Offers international dishes such as red thai curry chicken Offers gift cards
2 Locations in London, near White Oaks mall and downtown Has a direct channel
Values: passion, food, and friends
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Price
Ultimate premium casual dining experience TV Advertising, bill boards, radio, newspaper Daily drink specials Website contains menus, locations, background Social media: Twitter, Google+, Facebook, Social hubs on website where customers can discuss and receive news about Moxie’s Starters: $8.75 – $17.75 Dinner entrée: $19.75 – $27.75
Competition Analysis: Milestones Marketing Mix
Product
Milestones
Place
Promotion
Price
Offers many different types of menus such as classic ones (Dinner, brunch, dessert, kids, bar) to unique ones (Monday girl’s night out, date night menu, holiday) Offers some vegetarian menu and gluten-free options Contains many choices; burgers & sandwiches, seafood, pastas, chicken, ribs Has some international international dishes Uses fresh ingredients Offers gift cards 2 Locations in London, South London and Masonville Has a direct channel Contemporary décor Emphasizes food, atmosphere, and service Website contains menus, locations, background Social Media: Facebook. Twitter Has birthday events where you can get a meal for free on your birthday Daily drink specials Starters: $6 - $13 Dinner Entrée: $13 - $32
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3. Customer Segmentation Analysis Segmentation Bases
Customer Segments: Students
Geographic
Demographic
Psychographic
Benefit
Segmentation Bases
Geographic
Psychographic
Personality: Fun-loving, opinionated, tech savvy, openminded Lifestyle: studying, partying on weekends Geodemographic: located around western university and Fanshawe College Convenience, cheap, fashionable
London, ON Largest group by population Age: 36 – 49 Income: since this group is established in their careers, has a good amount of disposable income Ethnic: Diverse Family Life Cycle: Established in their careers middle age married/divorced with/without children
Personality: Adventurous Lifestyle: trying new things, go out to eat 2 times a week, highest compared to other age groups Geodemographic: tend to reside near Hyde park
Convenience, time-saving
Benefit
Age: 18 – 25 Income: $4000 in spending in local economy each academic year, with $880 of that going towards dining out Ethnic: Very Diverse Family Life Cycle: Young Singles
Customer Segments: Established Adult Early
Demographic
London, ON
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Customer Segment: Established Adult Late
Geographic
Demographic
Psychographic
Age: 49-59 Income: Highest average income compared to other age groups Ethnic: Diverse
Personality: Mature, refined & sophisticated, community attachment Lifestyle: Established adult late have more time on their hands, therefore they would experience more with different restaurants Geodemographic: Masonville area
Healthy lifestyles
Benefit
London, ON
4. Target Market Selection We decided that the customer segment that best fits Tina’s restaurant core values is the established adult late group. This age group has the highest average income compared to the other age groups; therefore, they have more options in where they choose to dine. Since they have more free time due to less responsibility with kids and work, they would most likely try new things such as new restaurants. Their age also tends to make them more mature, refined and sophisticated due to the many experiences they have gone through. This means their taste is perfect for Tina’s fine-dining restaurant. Another reason why this group is perfect for us is their value in healthy lifestyles. By the time they have reached the 50 year old mark, health seems to be the most important factor to this group. Since our core value is to his age group will enjoy Tina’s provide a healthy, nutritionist meal, we believe t his products the most. The target market strategy that was chosen for Tina’s restaurant is is the concentrated targeting strategy. Since this is the only group that fits Tina’s brand the best, we decided to focus only on this group. By focusing only on this t his segment, Tina can concentrate all her resources to cater to this group wants and needs. By understanding them, she can provide exceptional service, and products that match with this customer’s group perfectly.
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5. Mission Statement “Our promise to our customers is to provide a fresh, enjoyable, and an exclusively tasty meal that will benefit their health.”
6. Location & Name The area that we chose to locate Tina’s future restaurant is the Masonville area. The Masonville area is where most established adult group resides, which would be a convenience for them. Masonville area average average income is also the highest in the cities, average income running at $153,560. Masonville area also contains very little fine-dining restaurants, which is a perfect opportunity for Tina to open her restaurant. Finally, the Masonville area is a very high-traffic area due to the Masonville mall and stores surrounding it, therefore increasing Tina’s chance of attracting more customers. “Organik” , which comes from The name that we chose for our restaurant is “Organik” the word organic. The definition of organic food is “produced using environmentally and animal friendly farming methods on organic farms” (Soil Association). We think this name is perfect for Tina’s restaurant because it perfectly represents what our restaurant is about. Providing a fresh, healthy nutritionist meal that is made from locally grown ingredients. Since the current trend in the food industry is organic, healthy food, this would also create a lot of attention for her restaurant.
With our floor plan layout, we decided to go with 25 seats to give our restaurant the feeling of being packed and crowded. By having the restaurant constantly filled with people, it paints an image of popularity and quality to customers. Customers who do not want to wait must make a reservation, showing that Tina’s restaurant is an exclusive restaurant . For our décor, we decided to go with a more modern/sophisticated look, going with the black and dark colour scheme.
7. Pricing We decided that our pricing goal would be profit maximization goal. This best fits our pricing goal because we believe in quality more than quantity. Each of out entrée is made of fresh and organic ingredients, therefore the price should match our products. We can maximize our profit by serving smaller portions, but with the best quality possible. We can also increase our profit by focusing on our customer satisfaction, because customers would be willing to pay a large amount of money for something they perceived as a quality product. The pricing strategy that we decided on is the price skimming strategy. Since the products we offer, which are an all-organic food restaurant, have very few
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competition in London gives gives us more freedom with pricing. By setting the base price above the competitors, customers would perceive our products as high quality. Also, since organic food is the current trend, we believe the demand for our restaurant would be higher, giving us room to charge a higher price. Finally, we believe that our target market which is the established adult late, have the ability to afford our products. The average income in this age group is considered the highest compared to the other aged group since this age group is well into their career. Also, the average family income in the Masonville area is $153,560, highest in the city, is where our restaurant would be located. Since our tastes mature with age, mature adults would be willing to pay a high price if they know they would receive a quality meal in return.
8. Product At Organik, the theme of our food is fresh, organic, and nutritionist meals. We provide healthy conscious meals that are made from freshly grown ingredients that come from our local farms. Our products are organically grown, free of pesticides. Our meats also come from local farms that are free-roaming animals. Free-roaming animals means they grow at a natural pace, and are not confined in a small space. Due to the natural habitat the animals are growing in, their meats contain more vitamins and omega-3 fatty acids. They are also grass-fed which means our meats contain less cholesterol, saturated fat, and calories. Grass fed animals are free from growth hormones and addictive’s. (Soil Association) We offer a variety of meals to meet every member in our target ta rget market’s taste. Meals such as wild-caught seafood, and grass-fed chicken are offered at Organik. We also offer gluten-free and vegetarian choices. For our diverse customers, we also include international dishes such as spicy-thai brown rice with stir-fry organic bokchoy with grass-fed beef slices or curry free-roaming chicken with a side of organic mash potatoes. We decided to choose the healthy organic route for our restaurant because we believe that mature adults value healthy and nutritionist meals. Since very few restaurants provide focus on healthy nutritionist meals, we believe this is our competitive advantage.
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9. Marketing Communication Plans The first step to our marketing plan is to create attention to our restaurant. TV commercials informing our customers what our restaurants has to offer. We will emphasize on the freshness of our products, and the health benefits that our products offer. The feeling we want to achieve from customers who see our ad is to know we are offering healthy, organic, and quality meals. We will also advertise our restaurant through the newspaper, where we will most likely reach our target market. We will also support a variety of charities in London to improve our public relations. Every Sunday, we will go to homeless shelter, and provide people who are in need with healthy nutritionist meals. By contributing to the community our brand will also be promoted. Training our servers is also an incredibly important key to our success since most customers considered a salesperson as a whole company. Our servers will all be required to know the difference between a regular meal and an organic meal. They would also be required to know all the nutritionist facts, and the health benefits that our products offer. Being friendly, outgoing, respectful, and kind is also a must to be part of our restaurant. By having a knowledgeable and friendly staff, we will reinforce our image as being a high quality fine dining restaurant. Finally, our website will contain all the information of our restaurant. It will include all our menu items and their nutrition facts. The main focus on our website is our food, therefore there would be images of different dishes on the webpage. We will also include a feedback section where customers can tell us what they thought about their experience at Organik . This is how our direct response strategy is going to be applied. There will also be monthly contests for our customers c ustomers to participate in to win a free meal. For example, customers that come to our restaurant can take a picture of the meal they order, and post it with #Organik. Every month we will choose the best picture, and give the winner a free f ree meal. There would be a wall of fame in our restaurant where we put pictures of all the winners. By having these contests, our customers would feel more involved with our restaurant instead of just a place to fill their hunger. Newspaper Ad Example:
What differentiates this from other restaurants?..... Organik
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Bibliography Dover, J. (2014, May 1). Eleven trends and factors affecting Canada’s foodservice industry . Retrieved November 23, 2014, from Restaurant Central: http://www.restaurantcentral.ca/trendsf http://www.restaurantcentral.ca/trendsfactorsCanadasfood actorsCanadasfoodserviceindustry.aspx serviceindustry.aspx Lamb, C. W., F, J., Jr, H., McDaniel, C., Kapoor, H., Appleby, R., et al. (2011). MKTG. Toronto, ON: South Western. Michienzi, J. (2012). Tina's Restaurant. Milestone. (n.d.). Retrieved November 23, 2014, from Milestones Grill + Bar: http://www.milestonesrestaurants.com Moxie's. (n.d.). Moxie's Grill Bar . Retrieved November 23, 2014, from http://www.moxies.ca Robinson, J. (2010). Grass Fed Basic. Retrieved November 23, 2014, from Eat Wild: http://www.eatwild.com/basics.html Soil Association. (n.d.). Facts about organic food . Retrieved November 23, 2014, from http://www.soilassociation.org/whati http://www.soilassociation.org/whatisorganic/orga sorganic/organicfood nicfood The Keg . (n.d.). Retrieved November 23, 2014, from The Keg Steak House & Bar: http://www.kegsteakhouse.com/en/keg-story/