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Marketing Plan for Restaurant

Essay by   •  February 9, 2011  •  Research Paper  •  8,977 Words (36 Pages)  •  4,093 Views

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Executive Summary

Company

The Rams Head Pub & Eatery is an Irish style pub which is located at 1337 Main Street West, Hamilton, Ontario

Problem

Rams head is currently facing stagnant revenue, a lack of recognition in the area and a decrease in customers in the summer months.

Marketing Audit

Rams head is located across the street from McMaster University in a plaza. It offers pub style food and alcoholic and non alcoholic beverages. Occasionally advertise with flyers and have daily specials. The target market is McMaster students and residents in the area.

Marketing Objectives/Goals

With respect to the problem facing Rams Head, it should aim for an increase is sales revenue during the upcoming summer months, establish a marketing budget and increase customer awareness.

Competitive Advantages and Disadvantages

Strengths are its location which is in close proximity to McMaster and is situated on a main road (Main St. W) and the experience of the manager Deon Williams.

Weaknesses include its small size and unconventional layout, lack of awareness, lack of active promotion and advertisement and lack of parking.

Environmental Analysis

There is demand present from McMaster students however it is lacking in the summer months.

The bar industry is constantly changing (ie. change in smoking bylaws) and Rams Head needs to aptly react to these changes. Hamilton is also experiencing a decrease in growth and this will negatively affect the pub however the McMaster student population is on the rise.

The primary competitors are Snooty Fox, West End Pub, Boston Pizza and Hess Village. Secondary competitors include Quarters, Phoneix, East Side Marios, Players and Billy Bobs.

Alternative Strategies

Strategy A is to increase the number of promotions regarding sports. Currently Rams Head offers sports related themed events such as ÐŽoMonday Night FootballÐŽ± in which NFL football is playing on the televisions and 39 cent wings are available. Another possible strategy to increase revenues in the summer is to try and cater to summer workplace events. Strategy C is to focus all efforts on increasing brand recognition. Through the research conducted (see Appendix ЁC survey results) it was discovered that very few of the people asked had even heard of Rams Head yet alone been there.

Recommended Marketing Strategy & Implementation plan

Strategy C is recommended as it appears to have the most current benefits.

Implementation involves the following over the span of 3 months:

ÐŽ¤ Promoting through more flyers and posters

ÐŽ¤ Use of an outdoor sign

ÐŽ¤ Advertising in the Hamilton Spectator and Y108

ÐŽ¤ Improving and updating the current website

ÐŽ¤ Evaluating the effectiveness of the strategy with the use of surveys.

Table of Contents

Company Introduction 1

Problem Identification 2

Marketing Audit 3

Place 3

Product 3

Price 4

Promotion 5

Target Market 5

Marketing Objectives and Goals 6

Quantitative Goals 6

Qualitative Goals 6

Competitive Advantages and Disadvantages 7

Strengths 7

Location 7

Experience 7

Weakness 7

Size/Layout 7

Reputation 8

Advertising/Promotion 8

Parking 9

Company Resources 10

Management 10

Finance 10

Environmental Analysis 10

Demand and Demand Trends 10

Social and Cultural Trends 12

Demographic Factors 13

Economic and Business Conditions 13

Competition 14

Primary Competitors 14

Snooty Fox 14

West End Pub 15

Boston Pizza 15

Hess Village 16

Secondary Competitors 16

Alternative Strategies 17

Strategy A 18

Strategy B 18

Strategy C 19

Recommended Marketing Strategy 20

Implementation Plan 21

Appendix A: The Rams Head Pub & EateryЎЇs Beer List 25

Appendix B: The Rams Head Pub & EateryЎЇs Menu 26

Appendix C: The Rams Head Pub & EateryЎЇs Drink Price List 27

Appendix D: The Rams Head Pub & EateryЎЇs Promotional Flyer 28

Appendix E: Rams Head Marketing Survey 29

Appendix F: Census Tract Data 32

Appendix G: Map to Snooty Fox 34

Appendix H: Comparison of Prices among Competitors 35

Appendix I: List of Establishments at Hess Village 36

Appendix J: Map to Hess Village 37

Appendix K : Rams Head Strategy Weighted Decision Matrix 38

Appendix L : Implementation

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