Business Description.docx

Business Description.docx

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BusinessDescription

BUS560

MarketingPlan

BandRestaurant

Team1

2012-2-14

CollegeofBusinessandPublicManagement

A:

BusinessDescription:

“Band”willbeanewstyleandfull-servicerestaurant.Wewillprovidelow-pricelunchspecialandnightpartyservice.Inadditiontobasicfoodandalcoholservice,ourrestaurantwilldifferentbyprovidingpopularmusic.

B:

MissionStatement:

Themissionof“Band”restaurantistocreateacomfortable,healthy,butaffordableenvironment,andtoprovidecustomer-orientedandmusic-orientedservicetoourcustomers.

C:

SituationAnalysis:

1.Political:

ThepoliticalsituationinLaVerneisstable.

2.Economic:

TheeconomicisLaVerneisbetterthansurroundingarea.Retailandcommercialactivityhaveincreasedinrecentyears.MedianhouseholdincomeinLaVernein2009is$74,194.（Citi-data,2009）

3.Social:

Medianresidentageisabout41.3yearsold.（Citi-data,2009）.Accordingtoourresearch,besidesUniversityofLaVerne,thereare2educationinstitutionswhoselocationsarewithin5milesfromit,theyareELSlanguagecenterandMtSanAntonioCollegerespectively.

4.Competitive:

Thereare27restaurantswhichprovidefullserviceincityofLaVerne.

5.Legal

Aserieslicensesareneededtostartuparestaurantwithnightclubserviceandalcoholservice.

6.Cooperative

Oursupplierswillbesomesupermarkets,likeCosco,RalphsorSuperking.Twostaffinourrestaurantwillbeinchargeofpurchaseanddistribution.

D:

SWOTAnalysis

Strengths:

●Inexpensive

●ComfortableAtmosphere

●ConvenientLocation

Weaknesses:

●LimitedMenu

●InexperiencedManagement

●NewoperationConcept

Opportunities:

●Nosamestylerestaurantnearby

●Threeeducationalinstitutionsnearby

●Newoperationconceptprovidesexpansionopportunity.

Threatens:

●LifestyleinLaVerne

●Legalrequirement

●Continuousfinancialcrisis

E:

MarketDefinition

1.Competition:

Ourrestaurantprovidesfullservicefrom10amto1am.Accordingtoourresearch,thereare27restaurantsprovidesimilarserviceinLaVerne.Theywillbeourmajorcompetitors.

2.MarketingArea:

“Band”restaurantwillbelocatedonFoothillBlvdincityofLaVerne.Ourbusinessscopewillbeoccupiedwithin5milesaroundUniversityofLaVerne.

3.MarketPotential

Thereare27restaurantsprovidefullserviceandwith548FTEEmployees.TheaverageEmployees=548/27=20.3andtheexpectedMarketShare=20.3/548=3.7%.Thetotalmarketpotentialwillsumupto$27,875,000.Within5years,thepotentialsaleswillbe$680,000.

F:

STPSTRATEGIES

1.SegmentationofMarket:

●Providehealthyfood.

●Providepersonalizedmusic.

●Targetcustomersarefamily-orientedpeople.

●Targetcustomersarestudent-orientedpeople.

●Peoplewholikediversifiedmenudishes.

2.IdentificationofTargetMarket

●Providepersonalizedmusic

●Targetcustomersarestudentsorientedpeople

Ouroveralltargetmarketsareyoungadultsbetween18yearsoldand35yearsold,andwhoaremainlystudentsstudyincityofLaVerne.TheyhavethehabitsofenjoyingnightlifeandareinterestedindifferentmusicstylesincityLaVerne.

3.Jugularbenefits

Comparingwithourmaincompetitors:

AOKIandSHOGUN,thelowerprice,higherqualityandliveperformancesofvariousbandsareourmainjugularbenefits.Whatismore,wecanprovidedifferentkindsofdrinksandsmoothiesforconsumerswhentheywatchthebandshows.

4.PositioningofProduct:

HighQuality

！

BandRestaurant

！

AOKI

LowPriceHighPrice

！

SHOGUN

LowQuality

G.

1）Goals

●TheBandRestaurantwillbethemostpopularmusic-orientrestaurantinLaVerne.

●ServingQualityFoodsatFairPrices

●Customerswillbeattractedtotheatmosphereandambianceofit.

2）Objectives

●MostofthestudentsstudiedincityofLaVernewillbefamiliarwithourrestaurant.

●Addonemoretabletothediningroomeachyear.

5YearSales（Revenue）Forecast（TimeLine）:

●Additionally,Bandrestaurantexpectsa3%marketsharewithinthefirstyearandpotentialsalesof$680,000withinthefirst5yearsofoperation.

H.BusinessDesign

1.ProductMix

a.Strategy:

Allowmanagementtomake marketing andresourceallocationdecisionsthatmaximizeprofitamongexistingproductsandhelpmakelong-termproductmixdecisions.

b.Approach

BesidesclassicAsianfood,includingfreshvegetables,freshseafoodandmeat,ourmainproductisthelatestandmostpopularmusic.

Ontheweekends,therestaurantwillprovideafreevenueforsomeschoolbandstotakeliveshows.Ourrestaurantwillbeaniceandfashionableplacewithgoodenvironment,music,artistperformance,DJshow,food&beverage,andsomeotherentertainmentactivities,suchaspooltables,dartscorners,andsoon.

ListofCost:

Food&DrinkCost（Includeseafood,meat,vegetablesandvariousdrinks）,FixedCost（Rentalofland.Serviceareaequipmentslike:

Tablesandchairs,sofasandplants,airconditionerandcarpets,decorativeitems.）HourlyLaborCost（Includewaitersandwaitresses）,ProfessionalChefCost,UtilityCost（IncludeElectricity,waterandWIFI）,MarketingPromotionCost（IncludeAIDAcost）,Fees&LicensesCost,MaintenanceCostandOther.Showedasfollowingthecostchart:

Restaurantcostchart:

2.Distribution:

Strategy:

Provideconvenientdistributionservicetonear-homecustomers.

ThelocationofBandrestaurantwillbelocatedontheFoothillBlvdinthecityofLaVerne.Ourpotentialcustomersarethestudentsstudynearbyourrestaurant,includingthestudentsstudyinELS（EnglishLanguageSchool）languagecenter,MtSanAntonioCollegeandUniversityofLaVerne.Theycouldjuststopbyourrestaurantafterschooltohavelunchordinnerorhaveparty.

3.Pricing：

Strategy:

Ourrestaurantwilladoptmarket-orientedpricingstrategy,becauseourtargetmarketismainlystudents,wewilltrytokeepalowerpriceandhigherquality.

Ourpurposeistoprovidehighqualityfoodoflowprice.Wewillprovidelunchspecialanddinnercomboforthem,besidesit,allofourdrinkwillbemaintainedatlowpricetoo,comparedwithdrinksinotherclubsorpubs.

4.Promotion:

Strategy:

WewilladoptAIDA（Awareness,Interest,DesireandActivity）strategytomakethepromotionofourrestaurant.

Concerningourmediaplan,wewillfocusonthe“campusmedia”,suchasonlineadvertising,deliveringflyersandhandoversinthecampus.Wewillputthecouponsinthestudents’laundryrooms,dormitoriesoronthenoticeboardswherearenoticeabletoallthestudents.

SeetheMediaAppendix

5.People:

Strategy:

Ourstrategyistocontinuouslyimprovecustomersatisfactionbyretainingwell-trainedstaff,enhancingcustomerexperiencingandourpeople-orientedmanagementphilosophy.

Ourrestaurantemployeesshouldhaveagreatknowledgeoffoodnutritionandcalories.Thentheywillrecommenddifferentcustomerofdifferentdishesaccordingly.Ouraimisthatcustomerscouldbuildrapportbytalkingwithourinterestingwaiters,wheneverinordering,waitingorleaving.

6.Process

Strategy:

Wewillmanageourrestaurantaccordingtothestandardrestaurantserviceprocess.

ReservationService:

Weprovidecustomersreservationserviceeitherforlunchordinner.WeacceptreservationordersbyE-mail,callorfacetoface.

Walkin:

Whencustomerswalkinourrestaurant,allemployeesneedgreettothem,like:

“Hello,welcometoBrand”.

Seated:

Afterthecustomersareseated,thewaitershouldrequireforsomedrinktheywantandshowthemthemenu.Afterthat,thewaiterwillwaitforthecustomers’ordering.Whilethecustomers’ordering,ourwaiterswillrecommenddailyspecialforthem,beingfriendlyandthoughtfully.

Leave:

Ourrestaurantwillprovide“doggybag”serviceandchargefree.Askbeforeremovinganyitemsfromthetable.

CSS（CustomerSatisfactionSurvey）:

Meanwhilewegivecustomersbill,wealsowillgivecustomerscustomersatisfactionsurveyform.FillingtheCSSisvoluntarily.

7.PhysicalEvidence

BandrestaurantwillbelocatedontheFoothillBlvdnearbyUniversityofLaVerne.Wewanttodecorateitasanewstylestudent–orientedrestaurantforthestudents. Wewillmakesurethatwekeepyourrestaurantclean,friendly,fun,organizedandan enjoyableplacetobe.

ActionPrograminyear2013:

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

GrandOpening

Three-monthtraining

Summer

Holiday

Special

ChineseNewYearCelebration

EasterDiscount

Christmas/NewYearCelebration

StaffEvaluation

Financialanalysis

1.5Year+OpeningCashLineGraph

Year

0

2013

2014

2015

2016

2017

TotalRevenue

0

80,000

190,000

350,000

560,000

680,000

TotalCost

83,500

120,500

170,000

210,500

270,000

300,000

TotalProfit

-83,500

-40,500

20,000

139,500

290,000

380,000

2.Payback

Nextchartshowsthepaybackofourbusiness.Weestimatethattheinvestmentwillbepaidbackinthethirdyear.

PaybackChart

Year

Cost

Cumulativecost

Revenue

CumulativeRevenue

TotalProfit

0

83,500

83,500

0

0

0

2013

120,500

204,000

80,000

80,000

-124,000

2014

170,000

374,000

190,000

270,000

-104,000

2015

210,500

584,500

350,000

620,000

35,500

2016

270,000

854,500

560,000

1,180,000

325,500

2017

300,000

1,154,500

680,000

1,860,000

705,500

3.CashFlowAnalysis

Thefollowingchartshowsourrestaurant’cashflowforfiveyears.

Year

0

2013

2014

2015

2016

2017

CashFlow

-83,500

-40,500

20,000

139,500

290,000

380,000

4.Internalrateofreturn

AccordingtotheCashFlowAnalysis,wencanknowth