We wish to outscore our competitors on customer satisfaction with all of these key demand drivers.
The second reason to adopt a premium position is because we believe our target market is willing to pay extra for a premium experience. We have established that our target market loves the casual dining concept. Indeed, our market may be hesitant to move beyond this into the fine dining segment. We feel that this creates a gap in the market we can exploit. By offering something akin to fine dining food and drink in an atmosphere that is a younger, more contemporary take on fine dining, we believe we can create and exploit a niche to which our target market is attracted.
This premium market position we feel will enable us to charger higher prices and to differentiate us from the competition. Much of the struggles in the industry have derived from a perception of "sameness" among competitors in the industry (Horovitz, 2008). As a result, we believe that the key to success to...
The premium market position will also help us to defend against responses from our competition. A low cost strategy could be met immediately, but a premium strategy is more difficult for the competition to respond to.
We expect to test our hypothesis about the premium position through direct market research. We will draw a sample size from our target market and conduct a survey. This will help us gain valuable information about the direction of the menu, price points, decor and other attributes that will help us to bring our concept to life.
Mintel Internatioanl. (2009). Casual dining -- U.S.. Mintel International. Retrieved April 24, 2010 from http://www.marketresearch.com/map/prod/2510855.html
Horovitz, B. (2008). Casual dining chains hunger for change. USA Today. Retrieved April 24, 2010 from http://www.usatoday.com/money/industries/food/2008-10-13-casual-dining-restaurants_N.htm
Roach, R. (2008). The baby boom echo quiets down: college demographics shift will test readiness for diversity, institutional savvy. Diverse Issues in Higher Education. Retrieved April 24, 2010 from http://findarticles.com/p/articles/mi_m0WMX/is_6_25/ai_n25490926/
In addition to capitalizing on this trend, the Assemblage's strategy also helps to mitigate the damaging impacts of a double dip. The Assemblage essentially captures customers on their way up or down the dining market. A double dip recession may cause some consumers to trade down from fine dining. They do not currently trade down because there are no casual dining establishments able to deliver the innovative food, interesting beverages
When expanding, the Assemblage will be more focused on setting up locations with a high amount of traffic from our target 21-35 demographic but Manhattan's density and role as an entertainment magnet allow for us to build our business. The overall marketing objective is to build the brand and set up the expansion and penetration phase. The flagship Manhattan location supports that because of the ability and the diffusion value
The positioning is akin to a casual version of fine dining, taking concepts from that segment an applying them to a mainstream audience. In doing so, we feel that we will offer an experience superior to that of other casual dining establishments. We view are target market strategy as being congruent with the fun, innovative and youthful image we project. We intend to skew younger than a typical casual dining
We have decided to take this option for several reasons. Firstly, the size of our restaurant will be able to entertain almost 500 people and with such a large space we need a huge market to fill it up. Secondly, Americans of all age-groups dine-out regularly (almost 4 times every week, according to last year's statistics.) thirdly and lastly, this figure is only going to increase with time. Selling tactics Contending
The managers will not act as apologists for staff failures, but will instead accept responsibility for the deviation. The manager will outline the situation as he or she understands it and the different steps that have been taken to remedy the situation. If a direct remedy is required for the customer, then the customer shall receive a direct remedy from the company. While such a policy may be costly to
A favorite target for conspiracists today as well as in the past, a group of European intellectuals created the Order of the Illuminati in May 1776, in Bavaria, Germany, under the leadership of Adam Weishaupt (Atkins, 2002). In this regard, Stewart (2002) reports that, "The 'great' conspiracy organized in the last half of the eighteenth century through the efforts of a number of secret societies that were striving for