Individual Exercise Model Answer

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A new restaurant 6  is the brain child of the award-winningchef Nadero Ravioli
of London¶s 3 Michelin Star 
 and star architects  

 . Instead of
launching a

extension in Tokyo or New York, 6  remains right at
home in London. But it offers an entirely different concept from traditional dining.

6  will serve only four menus each year, with only one being on offer
duringeach of the four seasons. Each menu will be based on great moments in
culinary history or of an ³imagined future.´A sneak pre-view at the menus
revealsthemes such as ³Paris 2012´, ³Hong Kong 2036´, ³Cairo 30 BC,´and ³Madras
1538´, each designed to evoke an authentic a culinary journey that has been
investigated, tested and refined by Ravioli and his team . Ravioli will not be preparing
the meals himself,but they will be produced by a select team of aspiring chefs who
see this as a stepping stone to the likes of 
 .

A meal at 6  is aimed to represent great value. Depending on the cuisine,


meals will be 5 to 6 courses and will include food, beverage pairings (at an extra
cost), and service²tips are strictly forbidden!Depending on the menu of the season,
the day of the week, and the time of the booking, the costis only between £35 to £70
for the entire prix fixe menu. Wine and beverage pairings will begin at a £15
supplementand upwards²the wine list is extensive ²andneed to be purchased at the
time of booking.6  is unable to make any monetary transactions at the
restaurant itself.

The restaurant offers a n online-only booking system. Guests buy non-refundable


tickets thatare fully inclusive of all charges, including service. Ticket price s depend on
which seating is bought. For example, a seating at 20.00 on Saturday is more
expensive than one at 21.30 on Wednesday. Seatings are for 2 ½ hours and there is
limited availability for starting times of 15 minute increments. Guests can also
purchasean annual subscription to all four menus at a discount with preferred
seating. Ravioli vows never to discount advertised prices and patrons are always
assured the best price at the time of booking.



Critically reflect on 6  business model.

M How would you describe the target segment? Which segments do they not
target? Who are they in competition with?

M What is their value proposition vis -à-vis their competitors?

M Analyse thereciprocal relations betweenthe ³marketing mix´ (the 4Ps) and the
rest of the business model, such as their processes, operations and profit model
(revenue model and cost structure)? What are the challenges, if any, with respect to
making this a success in the marketplace?

Where appropriate, relate you r responses to specific cases and examples used in
class.

The assignment is due in good-old-fashioned paper format at the beginning of class


in week 9. It is strictly limited to no more than 3 pages of double spaced 12 -point font
text with 1 inch margins (extra text will be ignored) . The use of bullet points is
encouraged.
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