Nanking's Marketing Strategy For A New Business

Entering the market requires heavy investment in establishing a name and make lots of outlets. It is a growing market with lots of pioneers that can make branches anywhere and threat the other chain in there selling areas.

My chosen firm is Odoba Mexican Grill and it produces quality meals that aggressive prices. In other words, the aim of the restaurant is to offer wide variety of competitively priced meal choices. Price and quality are two important factors in the success of any food business. If prices go up too much or quality decreased significantly, the demand will go down. But another very important factor is income. With changes in income, demand can see a negative change. If income comes down for regular customers, they will cut down the quantity demanded. This means that regular customers who were frequently going for meals at the restaurant might choose to go less often or order smaller meals or low priced alternatives.

Straight forward only the best quality food, service and great environment can bring repeat clientele which can never be achieved by any means of advertisement.

Nevertheless, the majority of customers are very satisfied with the amount of serving along with the quality of their meal as well as the price paid. The strategy of being a low priced high value added has seen problems due to lack of customers which is affecting the bottom line drastically. This inevitable circumstance has put a hold on operations and started an investigation upon various neighboring competitors and their own strategies.

Competition in the industry: Competitors include local small pubs/ bars, family restaurants, other food outlets, etc. There is a lot of competition in this industry from domestic as well as foreign companies.

•They are the most famous and one of the few outlets available in area and footfalls are generally heavy due to these•The places are usually visited very frequently by local people, students, etcPromotion•The joints rely on word of mouth publicity•There is no promotion done through ads for these joints. The promotion at maximum is limited to local newspaperSUGGESTIONS•McDonalds could increase the number of items served on its menu. Currently there are only 6 vegetarian and 6 non-vegetarian items served on the menu. It is also evident from the survey that many people feel that the variety of menu available is average and could be improved. Some of the customers prefer something new every time they visit. These potential customers could be targeted by increasing the number of items in the menu.

This is because, when the condition of the current market is not doing well, some strategy in considering the increase in the foods price, introducing a new dish should be limited due to the less or limited spending of the customers. The best option to secure and have a constant business growth during these time is to have more promotions and value set meal to attract the customers.

Program promos: when releasing a new restaurant to the market, by creating up with sales poster or brochures to some existing or current customer, for example introducing a package with friends, free drink or free cake of the months or discount 10% if the customer stills a student, help to gain awareness to a new customer.

For this Business Strategy Report, I have selected a restaurant chain named Nando’s. It was established in 1987 by two friends, Fernando Duarte and Robert Brozin (Nando’s.com, 2017). Although being a South African brand it has Portuguese influence and the restaurant chain depicts these designs. Nando’s specialty is flame-grilled chicken spiced with their unique selection of marinade sauces and spices ranging from mild to extra hot and for those individuals not into the hot stuff, there’s a lemon and herb option. It also has other selected food options to choose from in their attractive menu. Its niche market is working middle class male and female customers who enjoy spicy food and casual dining. It also caters for kids and families.

In order to achieve these strategies company undertakes a 5 P’s integrated approach to people, products, place, price and promotion. Company relies on its ability to continue to innovate and reinvesting in the restaurants to develop them according to system plans for world-wide growth, being consistent in providing excellent customer service and clean and friendly environment which enriches customers experience and create an overall difference that balances profitability with value.

The Dive bar will have a full bar and small menu for food that is competing with other companies in the area. In order to compete with our competitors, our craft beers are from local breweries around the Greenville area and our food will be locally grown and locally fed beef that we will serve to our customers to ensure a great, quality product that our customers will love. We have a great premium location in downtown Greenville where we can capitalize on our market and strive to be the best bar in the downtown area. One thing that will set us apart from our competition is our great draft and craft beer selection that is unmatched and we guarantee we will have the alcoholic beverage you were craving. We will provide great customer service

To provide quality product, extensive menu of delicious foods, ensure customer awareness and loyalty and also have good publicity.

The research will examine aspect of fine dining industry in Singapore. I will be assessing the competitive strategy of western fine dining restaurant in term of retaining existence customer and attracting new one. In order to identify retaining successful customer I will undertake survey in term of customer satisfaction and willing to pay. I will also interview restaurant’s managers who handle strategy and execution in order to develop attracting new customer. Last I will conclude with a good strategy would help a restaurant

The paper presents an analysis of the different factors influencing the restaurant industry and how these factors increase or decrease the demand for such services. The hypothesis that will be examined is that the performance of restaurants is mostly based on the type of food chosen by customers when they decide to go out for dinner, lunch, breakfast, or simply for a snack. What type of food refers mainly the nationality or concept of the food, (traditional American, Italian, Indian, Latin, or from any other type of culture). This factor is important because when customers go out to for dinner; they decide what to eat before deciding where to eat. That is why this factor is considerably important according to the hypothesis.

There is no doubt that the Phoenix is one of the biggest city in the United States. It has the rich resources and good populations. We can always have fun here during my free time. Being an international student who is studying here, the food here is always the most important thing I worried about. Since I came here, I had tried so many foods here and I think each food own their independent style. Whatever what kind of food they from, I think they both good. But the food I always like best is Chinese food.