Marketing Plan For New Lehigh Acres Florida Restaurant `Pigs Can Fly` Essay
Every year, there are a number of start-ups emerge in every industry. Several factors that support the growth include the rapid economy growth of a country that increase the living standards, products and services innovation, and continuous development of information technology (IT) that creates a new way of doing business such as e-companies, to name a few. In order to reach the desired results, any companies should take into account several considerations or fundamental procedures of successful business by making and implementing marketing plan.
While a market refers to a particular group of who needs services, a marketing plan composes of several components that help the companies to cater their offering to their targeted market. Concerning the creation of marketing plan, in this paper, we will develop the marketing plan for a restaurant, named `Pigs Can Fly` that located in new Lehigh Acres Florida. The marketing plan composes of implementation plan and control, marketing mix, and IT support. 2. Implementation and Control
Carrying out the marketing plan requires detail plan and control so that the company can figure out if the plan would not be reached according to the set measurement and immediately can take the alternatives. Quality control plans become important
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Do not depend on mass evaluations to reduce mistakes. It is more effective to improve the process which will lead to better performance in the first place 2. Use a good program of education and self-improvement for the clinic staff (Haller, 1993) Based on the two criteria and considering that the bottom line of this plan is to achieve the targeted revenue; therefore following table can represent annual quality control plan for a restaurant, named `Pigs Can Fly`.
In addition, since the marketing plan for the restaurant includes the development of information technology to improve the customer experience, therefore, we also provide the implementation and control plan for information technology department as shown in the table The plan may lead to completely different result due to external and internal forces the company experiences. The condition suggests that Pigs Can Fly restaurant must have the contingency plan to deal with such changes and bring back the company into the right tracks.
The plan must focus on following issue prior to deciding the contingency actions: a) Focus on cash flows, not profits. Although the bottom-line is to have the greatest profit, in reality the first thing to consider is on cash flow since profit involves economic fiction while cash flow composes of economic facts b) Focus on incremental cash flows. It means that Pigs Can Fly restaurant must see whether selecting a project will provide company with better cash flow or vice versa c) Account for time. This step supports the idea that a company prefer to receive cash sooner rather than later.
d) Account for risk. The plan might have the greatest NPV or profits. But the project has the shortest lifetime that will cost a company in short period (“What is capital budgeting”) 3. Summary 3. 1. Marketing Mix In Lehigh Acres, Florida, restaurant business is quite challenging since there are many upscale restaurants that customers can choose in addition to the customers rating that inform the quality and finest of the services. In this web address (http://www. mytravelguide. com/restaurants/ctrestaurants-7342301-United_States_Florida_Lehigh_Acres_restaurants.
html), there are a number of restaurants located in Lehigh Acres, Florida, with various offers including the Fast food restaurants and stands, Steak and barbecue restaurants, Chinese restaurants, family restaurant, pizza restaurant and many others. Since the development of Pigs Can Fly restaurant is to target family customers, therefore, the marketing mix should reflect these target market characteristics. In more details, the characteristics of target market for customers of Pigs Can Fly restaurant as following:
• Brand of Products : Entertaining restaurant for Family • Customers’ Preferences : Customers who are meat and pasta lovers and enjoy the restaurant atmosphere with unlimited information in a comfortable place like a family restaurant • Ages : All age (we consider that people at this age have the needs for new information/ideas, make friends, and hanging out in family restaurant) • Customer Budget : above $40 per customer • Competitiveness : Free Internet connection at comfortable place for browsing Internet and kids playground
Since family restaurant need a warm and welcoming atmosphere, it become the key factor for Pigs Can Fly. Concerning the situation, the Pigs Can Fly restaurants need to develop not only cozy places but also additional value like computerized services in which customers are able to book a table, asks for special menu etc. In today’s fierce competition of restaurant business, corporations need to create not only attractive products and services but also generate intangible value added creatively.
This is essential since competitors easily copy tangible products or services, therefore, to differentiate from rivals, the corporations must produce distinctive services as value added for customers. The integration of technology at resraurant industry is not a brand new approach since corporations in the industry realize the benefits of IT integration to generate more revenue. In order to support the operation of Pigs Can Fly restaurants should have enough budgets to back up the network expansion and the development of application (software). Table 1 shows typical budgeting for IT department at the restaurant.