Marketing Strategies for Your Restaurant

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Presentation transcript:

Marketing Strategies for Your Restaurant

Marketing The action or business of promoting and selling products or services, including market research and advertising

Market Segmentation and Target Market

Market Research Helps you to: Decide how to segment the market Focus on a target market Study the competition Understand the market

Market Segmentation Children Teens Age Adults Senior citizen A subgroup of a larger market May be segmented by: Age Family size Income levels Children Teens Age Adults Senior citizen

Target Market A good target market is: Easy to identify Large Able to afford your product Willing to buy your product

Marketing Strategy The goal of increasing sales and achieving a sustainable competitive advantage

Location Most important decision Check for: Access Parking Traffic patterns Keep in mind: How much money is needed What can you afford

Customers Analyze the target market Focus on this clientele Market and advertise to these potential customers

Competition Know your competitors Find out: How close they are How many there are How you can make your venue stand out

Trends Keep the future in mind Keep up with trends Make changes if needed

Fuego Mundo: Interact with Your Community using Free Marketing

References and Resources Images: Shutterstock™ images. Photos obtained with subscription. (Slides 1, 3, 4, 5, 7, 8, 9, 10, 11, 12, 14) Textbook(s): Culinary essentials.(2010). Woodland Hills, CA: Glencoe/McGraw-Hill. Foundations of restaurant management & culinary arts. (2011). Boston, MA: Prentice Hall. Reynolds, J. S. (2010). Hospitality services: Food & lodging. Tinley Park. IL: Goodheart-Willcox Company. Website(s): Small Business Association Learning Center - Competitive Advantage - What sets you apart from your competition? Learn how to get a competitive advantage with this course. Learn how to brand, study your competition, identify customers and their preferences, create pricing strategies and much more. Leverage the uniqueness of your business to create a real competitive advantage. https://www.sba.gov/tools/sba- learning-center/training/competitive-advantage YouTube™: Fuego Mundo: Interact with your Community using Free Marketing - Fuego Mundo creates a unique dining experience by bringing the flavors, spices, and culture of South America to Sandy Springs, GA. The restaurant uses social media to request feedback from its customers for improvement. Even its name was decided on a social network! https://www.youtube.com/watch?v=a0QtkVEL6H0

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