Example Of Business Plan On El Nino Resturaunto Marketing Plan

Published: 2021-06-22 00:31:34
essay essay

Category: Business, City, Strategy, Food, Customers

Type of paper: Essay

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Company Overview
El Nino Resturaunto is one of the leading Spanish restaurants operating internationally, and is well known for offering tasty, delicious, and other premium quality Spanish food. Major foods on El Nino Resturaunto’s menu include Spanish Ceviche, Conchinillo Asado, Jamon Chorizo, Paella, Pescado Frito, Tortilla Espanola, and Gazpacho among others. The restaurant also serves a wide variety of drinks (Sangria, beer, and beverages). El Nino Resturaunto aims to start its operations in Rock City.
El Nino Resturaunto Marketing Objectives
Becoming the leading restaurant in Rock City, particularly in the provision of Spanish food
Promote and expand El Nino Resturaunto concept in Rock City and other regions
Achieve profitable rate of return on invested capital by the second year.
Record a Gross Margin of 60% by the end of the first year and improve the rate to 67 by the end of the second year.
Attain average sales of $1,000,000, -1,200,000 per year.
El Nino Resturaunto targets customers from middle-income and high-income from Rock City and the surrounding regions who love premium quality foods that are served in a relaxing and ambient atmosphere (Luther 27). Demographic characteristics of the targeted customers comprises of men, women, and children from all age groups. El Nino Resturaunto aims to satisfy the needs, tastes, and preferences of customers in this market by offering unique, high quality, and tasty food served in a relaxing atmosphere. Coupled with the unique variety of food in the menu, El Nino Resturaunto will combine entertainment and ambience with personalized services that will be offered by superior and qualified staff members. El Nino Resturaunto believes that the food offered in the menu will appeal to targeted clientele.
Competitors Analysis
SWOT Analysis
The internal competitiveness of El Nino Resturaunto is summarized in the following table.
Highly developed and strong relationships with food and raw material suppliers
Highly qualified and competent staff
Ideal upmarket location
High quality food offerings
Free Wi-Fi
Lack of brand equity for El Nino Resturaunto in Rock city
First restaurant facility in the region means a struggle to create brand awareness
Lack of developed marketing channels
Fast Growing market for Spanish food
High growth opportunities
Lack of a restaurant targeting a specific niche market presents huge opportunities for El Nino Resturaunto
Appealing personalized services
High competition from established restaurants
High government regulations
Economic down turns is likely to affect customer’s purchasing power
Increased taxation
Segmentation and Targeting
El Nino Resturaunto intends to cater for customers in the middle-income and high-income brackets. High food quality, personalized customer service, and entertaining atmosphere are what customers will get from El Nino Resturaunto. Targeted segments include corporate individuals, Rich couples, and wealthy families around rock city and the surrounding regions, High-end singles, and tourists. Majority of individuals from this target group have significant disposable income and prefer to dine at upscale, trendy, comfortable, and entertaining restaurants and lounges.
Differentiation and positioning
The factors that will make El Nino Resturaunto unique when compared to its competitors are categorized into three distinct segments. First, El Nino Resturaunto hopes to unique taste (wide range of high quality Spanish food) in a convenient location. Second, the Spanish palate is increasingly intrigued by a wide variety of Spanish food and El Nino Resturaunto provides the best menu offerings. Last, El Nino Resturaunto offers premium food strategically package to appeal to the target market. El Nino Resturaunto will be positioned as the only restaurant offering a wide variety of premium quality food.
Marketing Mix Program
The four elements of the marketing mix for El Nino Resturaunto are outlined below.
Product Strategy
High-quality and wide range of products will be served on El Nino Resturaunto menu. This will comprise of Spanish Ceviche, Conchinillo Asado, Jamon Chorizo, Paella, Pescado Frito, Tortilla Espanola, and Gazpacho among others and as well, a wide variety of drinks (Sangria, beer, and beverages).
Pricing Strategy
Majority of products will be offered at a premium price and price will vary depending the quantity and type of product. However, it is important to note that the premium price will be compensated by high quality, great taste, and personalized services.
Promotion Strategy
El Nino Resturaunto will utilize key promotional strategies such as in-store demonstrations within the restaurant, brochures, discount coupons, and advertisements in leading media channels (Luther 117). El Nino Resturaunto also plans to hold an exhibition that will feature a wide variety of Spanish food and recipes.
Place Strategy
Products and services will be available at the state-of-the art El Nino Resturaunto facility that will be located on the upper Rock City market. Majority of the target clientele frequent this area due to the quiet and relaxing atmosphere. A significant number of them leave on the nearby neighborhood.
Implementation and Control
El Nino Resturaunto believes that all measures and procedures outlined in this marketing plan will be followed strictly ceteris paribus. Assessment and evaluation will be conducted quarterly whereby strategies will be improved while unresponsive strategies will be dropped.
Work Cited
Luther, William. The Marketing Plan: How to Prepare and Implement It. AMACOM

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