One of the things that will make a difference for the customers is represented by the quality of the food, which needs to be fresh, first and foremost, and tasty.
The good quality of the food also refers to how tasty the dishes are.. From this point-of-view, it is highly important for the restaurant to have a skilled chef. The recipes that the restaurant offers can represent an important opportunity. Steaks are more or less the same in all the restaurants, but the manner in which they are cooked as well as the side dishes can really make a difference.
A third factor that can contribute to the successful functioning of the restaurant. This factor is represented by the quality of the services. One may come to a restaurant to enjoy the good food there, but he or she will surely not come back if they have to wait an hour to be served. The attitude of the restaurant staff as well as the atmosphere which they manage to create are key elements for the successful functioning of the restaurant. From this point-of-view, it is safe to say that the restaurant needs to have an efficient Human Resources policy, being able to motivate its employees properly.
A further factor that can contribute to the success of the business represented by the steak house restaurant can be found in its physical appearance. People choose a restaurant or another not only depending on the quality of the food that they can find there, but also depending on the atmosphere which they can enjoy. A cosy, relaxing atmosphere created in an elegant environment can be appealing for family dinners as well as for business lunches.
6. Critical issues
There are a few issues that the restaurant needs to take into consideration in order to make sure that it will function efficiently. First and foremost, the restaurant management needs to deal with the aspects represented by the human resources and the suppliers. Good personnel needs to be hired, but this is not enough. The staff needs to be trained and motivated properly so that the services will correspond to the identity that the restaurant promotes for itself.
The other issue, represented by the suppliers has an extremely big importance. The quality of the products that the restaurant provides depends on the companies which supply them, and their professionalism. Professional suppliers need to be found in the area and then good relationships must be established and maintained as far as they are concerned.
A third critical issue is represented by the competition. The restaurant management must take into consideration what and how the competition does in order to attract clients. From this point-of-view, the restaurant managers should act proactively in order to make sure that the business will function efficiently on a long-term basis.
3. Marketing strategy
The marketing strategy is an essential factor when it comes to the setting up and the development of any business. It helps to plan the exact phases which are required in order to reach the goals which have been established initially. It also helps establish the manner in which the phases of the plan can be controlled as well as to provide solutions for the cases in which something might go wrong.
3.1. Mission statement
The mission of the restaurant is to provide top quality services at affordable prices.
3.2. Marketing Objectives
The marketing objectives that the steak house restaurant has is to acquire a significant market share, constantly increasing the number of its clients. Another objective would be to increase the level of awareness regarding the company among the clients and the potential clients.
3.3. Financial Objectives
As far as the financial objectives of the business are concerned, they are to increase the customer sales in a continuous rhythm in the first year of functioning. Further increases are desired for the following periods as well.
3.4. Target markets
The target market that the steak house restaurant business has in mind is represented by the adult population living in the Charlotte area, as well as the people travelling in the area. The target customer is an adult with medium to superior studies, single or married, with or without children who enjoys meat and likes to eat out. The target customer has medium to upper incomes, is sociable and enjoys spending at least one of the week nights out, together with the family or the group of friends.
The restaurant, despite being a steak house is to position itself as a high quality one. The prices that people will have to pay in order to enjoy the products and services of this particular steak house will be a bit higher than the prices found in other steak house restaurants, but the atmosphere and the quality of the services here will make them feel it is worth paying extra. The restaurant is to position itself as casually elegant one.
The communication strategies play a fundamental role for the efficacious functioning of any company regardless of its area of work. Communication is essential not just for the need to transmit factual information regarding the products and services that the company offers, but also for the purpose of establishing and maintaining relationships with the main stake holders (such as the media which can promote the company) and the present and potential clients.
This is why the restaurant will have to make sure it obtains media coverage. The local printed press and the local radio are important communication means. Nevertheless, the company will also use the internet as a means of self-promotion. The site of the restaurant will provide all the necessary information about it, allowing people to make online reservations and be updated with all the events taking place there.
7. Marketing Mix
The product offered by the restaurant is represented by well cooked food. The main dish is represented by steaks, but the menu includes a variety of dishes and side dishes. People coming here can enjoy fine cuisine and also have a taste of the typical dishes from the area where the restaurant is to be built. The food however is not the only thing that the restaurant has to offer. The impeccable service, the relaxed and elegant atmosphere are also part of the offer.
In addition, the restaurant organizes karaoke nights and nights dedicated to special events taking place in the community. Furthermore, parties are organized on demand, and the menu is adapted to the requests of the people paying for the party. Business lunches and dinners can also be organized in a separate room, so that the clients are provided with the extra privacy which they feel they might need.
When analyzing the product it is important to underline that the restaurant will have to choose a name for itself that will reflect or at least suggest the quality of the products and services that the clients will benefit from. The quality of the products is one of the most important aspects of the development of the business and is pat of the mission statement. The safety of the product is also a key element, having the restaurant offer fresh food. The packaging would refer in this particular case to the aspect of the food. This aspect is also covered by the chef.
The restaurant will hire highly skilled personnel, including a talented chef in order to make sure that they will benefit from a differentiating advantage. The food will be fresh, tasty and extremely good looking. The orders will be taken immediately and the food will be served in the shortest time possible. The staff will make the customers feel at ease and will also try to create a cosy, pleasant and elegant atmosphere.
The prices that the customers of the steak house restaurant will have to pay are moderately high. The restaurant decided to make people pay prices which are higher than the ones encountered in other steak houses in the area, but the price is also meant to reflect the increased quality of the provided services, as well as the distinguished atmosphere which the entire staff tries to offer to the restaurant customers.
As far as the distribution is concerned, the restaurant will provide its customers with the possibility of ordering in. The delivery will be made in the shortest time possible, by the restaurant employees. The distribution will take place in the areas closer to the restaurant. The transportation will be made on scooters, allowing the carriers to arrive faster at the desired location.
Promotion is a highly important aspect when it comes to the development of the steak house restaurant. Its importance derives from the fact that there is an intense competition and that the company needs to create a name for itself. Promotion strategies will help it increase awareness among customers. Consequently it will help increase sales and contribute to the increase of the profits on both short- and long-term…