La Madre Delivering the Mediterranean Experience to Bakersfield Katie Bracker, Jamie DeQuillettes Kevin Duffy, Jared Grant Curtis Jensen, Jeff Studtman.

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Presentation transcript:

La Madre Delivering the Mediterranean Experience to Bakersfield Katie Bracker, Jamie DeQuillettes Kevin Duffy, Jared Grant Curtis Jensen, Jeff Studtman

Purpose Venture Theme Restaurant Entertainment Target Market Rabobank College students Professionals Families Downtown employees

Navigation Mission: To enhance the downtown Bakersfield community through a Mediterranean patio dining and entertainment experience

Transformation

Inbound Logistics Operations Outbound Logistics Marketing & Sales Service - Food - Beverages - Entertainment - Butchering - Vegetables - Beverages - Hot Stones - Décor - Space - Delivery Process - Quality Services - Quality Products - Quality Entertainment - High Customer Satisfaction - Mediterranean Experience Value Chain

Value Creation AM/Breakfast ProductTarget Segment NeedFeatureBenefit -Coffee -Entertainment -People who work downtown -Coffee -Information -Atmosphere -Location -Gourmet Coffee -World Information - Social/Outdoor Area -Location -Tasty Coffee -Informed on current events/world news -Proximity (Quick access to many local downtown business)

Value Creation Day/Lunch ProductTarget Segment NeedFeatureBenefit -Lunch -Entertainment -People who work downtown -Food -Out door atmosphere -Location -Hot Stone -Out door atmosphere -Social/outdoor area -Location -Unique dinning experience -Variety -Calming/ rejuvenating -Proximity (Quick access to many local downtown business)

Strategic Market Value Creation “Quality & Design” “Modern functionality and old world atmosphere” Quality: Excellent food quality in regards to purchase standards (i.e. meat quality) Superior customer service Design: Aesthetically pleasing Unique atmosphere Old world “look”

Strategic Market Value Creation “Brand Image” The brand image provides competitive distinction and marketing advantage through: More inelastic consumer response to price increases Less vulnerability to competitive marketing actions

Promotional Strategy: IMC Plan Target Audience: Downtown workers “Push” strategy used for initial promotion, “pull” strategy planned for growth Word-of-mouth communication Major Promotional Tools Used Advertising Sales Promotion Public Relations Katie

Promotional Media Plan Phone Book Ad & Informational Website Sales Promotion to local downtown businesses Distribute Mediterranean delicacies along with description of atmosphere and entertainment options at the start of business and just before lunch Mediterranean Media Day Local city officials and media

Perceived Value Total Benefits Atmosphere Convenience Status High Quality High Service Total Price Food and beverage prices Entertainment Employee wages Upkeep Financing Mortgage

Pricing Value-Based Pricing - Accommodate to target market’s wants and needs. Add value with upscale, unique atmosphere. Determine price from perceived value. Inelastic Price Structure – High value creates the ability to adjust price without affecting the sales. Price Skimming – Use high prices to establish high quality. Financial Pricing – Food will be priced relative to perceived value and profit margin goals.