Introduction In this paper I will be discussing the environmental analyst, target market, consumer decision making process and last but not least the four p’s of marketing of The Waiter Button. This product is designed for business owners who operate lounges, bars, clubs, and restaurants. The product has a few key features that can help owners of these establishments improve customer service due to less wait time, efficiency, and tailored customer’s service. For instance, a business who owns The Waiter Button allows the customer to signal the waiter by pressing the button that is either located at the middle or/ and the side of the table depending on owner’s preference. The product also has a water button that allows the waiter to …show more content…
One of the key factors contributing to this market growth is increasing need to develop competitive strategies (PRWEB, 2013). The business information markets have also been witnessing the increased penetration of smartphones and tablets. However, the increased availability for free information could pose a challenge to the growth of this market (PRWEB, 2013). Furthermore, as original as this idea is, competition still exists. There are only three competitors that have the same or similar product as The Waiter Button; and all three are based online. The first competitor is www.Call-personnel.com, their products are designed for business owners to purchase as a hand watch or/and as a remote control. My product has an advantage because their company’s website is only written in Russian, which can confuse other customers who are not familiar with the language. The products also have an unappealing look. They also only ship their products to Idaho which equals to a smaller market and a decrease in sales. The second competitor is www.Witop.net. They also sell hand watches and remote controls but they also sell time clocks for waiters. However, my service is better because, their website is constantly under construction. In this case, they are not able to have the product available for customers to purchase conveniently, and this can cause a decrease on company’s credibility and sales.
Monica and Andy is a Chicago based brand of boutique baby and toddler clothing, blankets, and accessories made of organic fabrics. M+A was founded by local Chicago mom, Monica Royer in 2013. Originally, what started as an online baby blanket company, Royer expanded her store into an organic baby and toddler clothing line, along with opening a retail location in Lincoln Park, at 2038 N Halsted, during the summer of 2014. Monica and Andy is now also home to the renown “cuddle box”. The “cuddle box” is a beautifully hand packaged box of 100% certified organic newborn essentials including the first outfit (hospital outfit) and a blanket that is the perfect gift for a baby shower or hospital gift for a new mom and her new baby. Hats
In the world of business, information technology strategy has been overlooked by owners for they are so focused on marketing strategies. Keeping up with the use of information technology is in just about all types of industrial process and just as important. It has been a proven fact that it contributes to the development of strategies and tactics when developing a product or service. During the twentieth century the accelerated progress in information technology has developed a large variety of technologies for the collecting and storage of information such as the Internet, software companies, and personal computers.
External and internal environmental analysis is a critical component for an organization seeking to achieve its goals. The follow information within this paper presents a complete external environmental and an internal competitive environmental scan for JetBlue Airways. The information provided identifies and analyzes the most important external environmental factor in the remote, industry, and external operating environments. When addressing external environment it speaks to a set of forces and conditions outside the organization that can influence its performance. The most common forces include political, economic, social,
This paper will introduce a product and service which operates in the U.S. with the intent to expand within foreign markets eventually. The service that I chose is a current service in the food service industry that does exist but would benefit from enhancing it; there are market trends for the new service that would definitely satisfy potential customers’ needs and wants once the idea is brought to their attention. The goal is to bring the feel of the city’s fine dining and lounging experience to areas outside the city without having to travel far or spend more. The service is an
Technology is rapidly changing our lifestyles on a daily basis. From how we entertain ourselves, how we stay in contact with one another, all the way to how we pay our bills. Successful attempts within the world of information technology have significantly changed the way we do business as well. Web and mobile-based applications created a new platform for businesses to expose themselves to new clientele, along with staying abreast to what competitors are using to compete with them. Individual use of these web and mobile-based applications can help a user upgrade his or her own standing in the business world as well, which is what I would like to talk about in this essay. In
• Target will need to focus on cost cutting in order to reduce their prices that are applied to the products.
More and more people like to eat outside in a restaurant. Restaurant services can help people establish the satisfaction of ingredients, provide considerate services, and save customers’ time. The restaurant industry occupies an important place in the service industry, and because the demand of customers is increasing, the demand on the level of service is becoming greater. The stages of the industry’s life cycle are typically separated into three stages: beginning, maturity, and recession. The restaurant industry is clearly in the maturity stage. For now, people usually can find what they want by using some Apps, and find the restaurants near them. It is convenient for people to eat in a restaurant. The trend of restaurant will be continued in next five years. The charts(4) below showed the restaurant industry sales have been increasing since 1970, and the restaurant sales was $709.2 billion dollars, the sales of restaurant industry included commercial restaurant services, eating places, bars and taverns, managed services, lodging places and retail, vending, recreation, mobile. Commercial restaurant services occupied the most sales from restaurant industry. The major emerging trend in restaurant industry is the way we manage restaurant, more and more technological products were used in restaurant, we use tablet to order food. Restaurant were using advanced technique to have a better dining experience, like the
Mark W. Shaefer is a successful businessman that built his company while spending zero dollars on marketing. “I built my entire business without spending a dime on advertising or marketing in three and half years. All of my business has come from my blog, Twitter, and LinkedIn.” (Bell 34) By using the platforms that many individuals visit on a daily basis, free business exposure is created. “Social media is rapidly replacing traditional media as a source to which consumers turn for information about products and brands.” (Brison 309) Much like in the past, consumers want to learn about a product before purchasing it.
We are at the forefront of an information revolution. Firms are increasingly relying on data to drive strategic and business decisions. Upstart companies are giving market leaders a run for their money by tapping into advanced data analytics, statistical modeling and open source software. Multi-billion dollar companies like Uber and Airbnb have shown a groundbreaking data-driven way to connect its products & services to their customers. We are living in a world where every customer touch point with a digital device is being recorded and monetized. Every business has to reinvent, transform, and adapt its products and services to meet the demand of its digital savvy customers or face the risk of becoming obsolete.
Budget development should consider future changes that might influence the operation (Payne-Palacio & Theis, 2015, P.473). Not only budgeting, managers make decisions regarding service, product and performance evaluation in order to provide high-quality service. The active communication within customers and departments, training program and implementation of technology innovation is aimed to ensure the quality of service and product. A good menu design makes the operation more efficient and effective by considering the work process and sanitation in advance. This could help ensure the quality of the
Customers is an important justification of a company’s success. Considering the interest of customers and portraying a good image to its customers, it had come out with different variety of meals. For example, the KFC offers kid’s meal which gives children free
“Services are acts, deeds, performances, or relationships that produce time, place, form, or psychological utilities for customers” (Roberta S. Russell, 2014, p.194). Besides, there are some other explanation of service design: Service design is all about making the service you deliver useful, usable, efficient, effective and desirable (UK Design Council, 2010); Service design aims to ensure service interfaces are useful, usable and desirable for the client’s point of view and effective, efficient and distinctive from the supplier’s point of view (Birgit Mager, 2009); When you have two coffee shops right next to each other, and each sells
Organizations need to be aware of what is going on in their environments that might concern them, and more so, during the planning process. Diverse but overlapping environments ought to be monitored; the macro environment, the industrial environment, the competitive environment, and the organization’s internal environment (Ginter, 2013; Pfeiffer, 1986). At Rapha AL, my chosen organization, the environmental scanning will include distinct internal and external factors that would enable Rapha gain excellent understanding of the current and emerging issues that might affect it, and inspire the setting of clear and achievable goals. In this paper, I will analyze and address the strengths, weaknesses, opportunities and threats (SWOT); discuss current and prospective customers and evaluate the impact of environmental factors on the organization’s effectiveness to achieve the established goals within the strategic plan. Furthermore, I will address evolving external issues that could influence the strategic plan, evaluate the benefits of competitive analysis and Rapha’s capacity to achieve the strategic goals and objectives in a 3-year strategic plan.
When opening a new restaurant it is important to consider technology options that will offer competitive advantage, enhance profit, and work efficiently for the establishment. Three systems that are generally purchased for restaurant use are inventory systems, point of sales systems, and reservation management systems. All of these systems should be researched and compared on their functionality so the most suitable technologies can be implemented into the daily activities of the restaurant.
We would like to include a new service for the customers. Breakfast is important for human. However, we decide a set for the customers. If a customer buys a drink, then he/she wants a cake or sandwich. It will be have a discount for 50%off. It is a market penetration. We would like to make some discount to attract customer. The target market for this new product is every customer. It is because everyone will buy food and drinks. It is a reasonable price for public.