Jeremy Orag

HRS

PRODUCT INDENTIFICATION:

The Product – Restaurant for Food and Beverages

 Preparing food and drink orders such as meals, sandwiches, salads and coffee.

Pricing Structure-

 Before determining the cost of an item we’ll be putting in the menu, we researched
the price of every ingredient that will go into the dish. We will divide the total food
cost for the batch by the number of sales units we get out of each batch to calculate
the food cost per unit.

Place-

 Setting up a restaurant for food and beverage is ideal. We locate it where it is visible
to public places for free advertising. Putting up in such place reminds costumers that
our restaurant exists and they should stop by for a meal sometime.

MARKET STUDY

Industry Trends

 Our restaurant will take advantage on industry trends where this includes
strengthening the online presence, we will offer delivery options since delivery
increased now during pandemic, we will make our kitchen a ghost kitchen, and
services such as grab and go but for dine in we will still follow the protocols (social
distancing).

Target Market

 Before identifying our target market what we did was identifying first the
customer’s needs if this is visible in our product. We identify our design, our
performance, our reliability, being convenient and of course the performance. If
these all are present in our product it is easy for us to identify our target market
which is of course the people present in the public.

Competition Analysis

 When we say competitor it is any company in the same industry that is offering
same products and services that caters to the same market. Our restaurant is
confident enough because we will offer our customers something they cannot get
from our competitors.
PRODUCT MARKET MATCHING

 As what I’ve mentioned above we will offer our market something that they cannot
get from our customers. We will keep online engagement high, we will take
advantage on online reviews, and many other strategies that can attract customers
and drive sales.

PRODUCT TESTING

 In our product testing, first we have to find out if there have been similar products
in the market, and if why they failed. We will also try marketing our food product at
the local people and see how it performs. We will try selling it couple of months
before launching it as a local store.

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OBJECTIVES:

 To create a sense of loyalty to our market to make them regular customers.

 Providing and satisfying customer experience
 Providing enjoyable food and relaxing atmosphere

TARGETED MARKET

 Regulars
 Families
 Middle Class Income Levels
 Children, Teens, Youths

PROMOTION MIX

 We will focus on the outline of our marketing plan that is aligned with the goals of
our business. This relates to our menu offerings, menu item pricing, location and
competitive positioning, deals and special promotions.

METHODS OF ASSESSMENTS

 According to study, 89% of people remember where they received promotional

products.
Numerous studies have shown that calendars and notepads are the most effective
promotional giveaways. The reason for this is that they are used every day, meaning
that people are consistently being reminded of your brand. Positive results in terms
of brand recognition can also be achieved by the classic pen giveaway. We will be
applying this strategies in our restaurants.