Expansion Of A Restaurant Bar And Grill Term Paper

PAGES
3
WORDS
948
Cite

They focus on a handful of core geographic regions, so they are able to announce upcoming openings by announcing them first to existing customers in other parts of the same general region. The cost of this part of the program is low since you are providing the advertising space on premises. Only printing costs are incurred, so a few thousand dollars at most. The effectiveness will be in part determined by the proximity of the new location to the existing one. Another element of pre-promotion is at the site of the new location. While this is under development, the opportunity should be taken to plaster the site with signage announcing your imminent arrival. In my neighborhood, a new coffee shop and steakhouse are opening soon and both have made sure to have large, visible signs in their windows to alert passersby. As the brand's reputation grows, this strategy increases in effectiveness, as evidenced by Krispy Kreme during their rise to prominence. With a highly developed brand, they were able to open new stores successfully relying on this strategy alone.

The third aspect is the advertising itself. Brands may not be built with a short-term advertising blitz, but it will be required to get the first customers through the door. Information regarding new restaurant openings is typically disseminated through print media. These ads can cost upwards of a thousand dollars to prepare and place. But they reach the target market if placed in Entertainment, Food or Living sections of newspapers...

...

The ads should focus on product differentiation - your restaurant has built a reputation for something in its original market and that should be communicated to the new market. If you consider Porter's three business strategies and Five Forces, differentiation is critical to developing new markets in a competitive field. As a new business, you can use the differentiation to increase your bargaining power with your customers, but should also use some form of discount or promotion as a hook if you are operating a low-cost model.
The ads should run for a month or two to ensure multiple exposures to the target market.

The three-pronged growth advertising strategy will cost in the range of $10-15K per new location. By targeting key influencers, however, sufficient business should be generated to ensure a successful launch.

Sources Used in Documents:

References

Wansink, Brian and Ray, Michael L. (1993). How Expansion Marketing Affects Brand Usage Frequency: A Programmatic Evaluation. Marketing Science Institute. Retrieved May 12, 2008 at http://www.msi.org/publications/publication.cfm?pub=368

Porter, M.E. (1980), "Competitive Strategy: Techniques for Analyzing Industries and Competitors." New York, Free Press.

No date) Restaurant Public Relations Builds Credibility, Restaurant Advertising Breeds Skepticism. Quantified Marketing.com Retrieved May 12, 2008 at http://www.quantifiedmarketing.com/learning_center/pr_advertising.php


Cite this Document:

"Expansion Of A Restaurant Bar And Grill" (2008, May 12) Retrieved April 19, 2024, from
https://www.paperdue.com/essay/restaurant-bar-amp-grill-expanding-a-restaurant-29886

"Expansion Of A Restaurant Bar And Grill" 12 May 2008. Web.19 April. 2024. <
https://www.paperdue.com/essay/restaurant-bar-amp-grill-expanding-a-restaurant-29886>

"Expansion Of A Restaurant Bar And Grill", 12 May 2008, Accessed.19 April. 2024,
https://www.paperdue.com/essay/restaurant-bar-amp-grill-expanding-a-restaurant-29886

Related Documents

Job fair brochure: Half Time Sports Bar & Grill Looking for a fun place to work? Love sports? Love to eat? The Half Time Sports Bar & Grill is a rapidly-expanding local franchise that offers traditional American food in a relaxed and homey setting. Customers can watch their favorite sports while they are served by a dynamic and engaging wait staff. Behind the counter, equally enthusiastic line cooks prepare the perfect

Juice Bar Business Plan
PAGES 15 WORDS 3748

Personal Management Plan 1- The Juice Pharm My organization is called The Juice Pharm and is inspired by Clean Juice, a company that is a 100% certified organic juice bar. Every item and ingredient is organic. No GMO (genetically modified organisms), no contaminated food items, all-natural produce from all-natural farmers who believe in sustainability—that is the foundation of Clean Juice’s business. For my organization, I would base my business’s core values on

19). The family-friendly atmosphere at the company's restaurants has also been conducive to its growth, as well as Applebee's combination of good food and alcoholic beverages. For instance, Crandall and his colleagues suggest that the casual dining nomenclature ". . . includes such settings as Applebee's where the food comes with a relaxed atmosphere. The concept here is 'not-so-fast' food for aging boomers who may still crave a burger

Shades of Green This Project
PAGES 14 WORDS 3642

This also means that the prices must be reasonable. The resort also has an opportunity to make substantial revenue from this asset because it is open to the general public. Entertainment- entertainment also has the capacity to generate revenue for the resort. The resort has banquet facilities that can accommodate bands and other types of entertainment. These banquet facilities were added on as part of the restoration of the resort

This fact will allow the company to now grow its operations in the target locations while some competitive companies would have to concentrate on generating more income to cover the financial liabilities, rather than to make more capital expenditure to grow the brand. The company has chosen to reduce the number of its current assets by decreasing the number of inventories which does not have a negative impact on the

Mcdonald's Corporation
PAGES 30 WORDS 13617

McDonald's Corporation This is an attempt to study the history and development of one of the great institutions of United States and a part of the images of the country that has spread in the whole world. As is well-known, the dominance of the world by United States came after the Second World War when the traditional leaders of United Kingdom and Germany lost their predominant positions due to the destructions