RESTAURANT BUSINESS



ITALIANO Dine in St. Albans

[Name of Student]

Abstract

Recently the attraction of opening new restaurants for the purpose of entertaining people has become the priority for many business owners. A successful restaurant is one that has the three Gs; great food, great ambiance and great service. The rationale of this report is to devise strategies for a new restaurant to be opened in St. Albans. The report will assay the best possible location for the restaurant, and what food to be served in it. It will further assay the marketing strategies that would be done using the 4Ps tool.

Abstract……………………………………………………………………………………………i

1. Introduction1

2. Nature of Research1

2.1 Advantages and Disadvantages of the Research1

2.2 Objectives of the Research2

2.3 Sources of Research3

3. Discussion3

3.1 Marketing Trends4

Market Size and Growth4

Market Needs4

3.2 Local Competition5

3.3 Political and Economic Trends5

Household Type7

3.5 Location8

3.6 Digital communication for Marketing8

Objectives of Marketing9

Target marketing9

4. Interpretation9

4.1 SWOT Analysis9

Strength9

Weakness10

Opportunities10

Threats11

5. Marketing Segmentation11

Conclusion12

Bibliography……………………………………………………………………………………..13

ITALIANO Dine in St. Albans

1. Introduction

At present, with increase in competition in every organization, restaurant industry too has increased its pace with high competitive standards. The competition between the restaurants has become intense to meet up the customers demand. Food is the major attraction and entertainment that can attract the customers instantaneously. Many restaurants and chains are opening around to satisfy and attract the customers and generate large profits. To have a successful restaurant business it is important to emphasize on the 4Ps of marketing strategies when opening a new restaurant. Marketing has a strong and great impact on the outcome of any business products and services the organization generates.

2. Nature of Research

2.1 Advantages and Disadvantages of the Research

The research will facilitate in developing strategies that are needed to fulfil the demands from the customer's ends. The following are the advantages that will help in devising strategies to achieve the targets and objectives of the new business to be established.

Identifies the requirements of the customers

Aid in designing product that will meet the customer's demand

Identify competitors and analyze the competitive advantage of the firm

Identify new potential customers

Identify new line of products

Tests the strategies to see if outcomes can be achieved or not.

The Disadvantages are as follows

Weakness in the business strategies and business will be identified

Improper data analysis can lead to wrong marketing decisions

Wrong marketing decisions can affect the financial projection 2.2 Objectives of the Research

The following are the objectives that would be used to assay and device strategies to open a small restaurant in St. Albans:

Location of the restaurant

Catering family or specific genre of customers

Food and quality

Marketing and promotion

Communication

Pricing Strategy

The report will find which class of customers will be catered most at the restaurant, working class, families or students. The objectives will be assayed to develop strategies to facilitate in the marketing and promotion criteria of the new restaurant.

2.3 Sources of Research

In the initial phase help of certain experts is being taken who would help in researching and facilitate with the accumulated data to devise objectives and strategies for the new business. Through their expert opinion it will be ensured that how to move forward ...