We already say that out main target is student not all people so we differs people on young generation. They will know how our product. Marketing mix strategy Product Our product features consist of three levels of product. Our product features are below- Core product 1. Unique taste 2. Unique environment 3. Well behaved with our customer 4. Excellent value We believe that these things will be satisfied our customers which they are expecting from our products.
Paper and plastic on the go consumption and hygiene and healthy food for all sort of customers. Augmented product We will offer more than fast food to our customers. Because, our target customers are mainly university and school going students. On the other hand Hangout name is easy to pronounce among to the student and they are well known about this word, so this name can be recognized among them. Hangout is a distinctive brand name in Bashundhara area as well as Dhaka city Our brand name easily translate in every area in the world, people all over the word though our market target is not worldwide but many foreigner comes to study in NSU, IUB for graduation and Undergraduation, among them Hangout can be easily famous.
P a g e 10 Brand Sponsorship We are fast food manufacturer in Bashundhara area. So our brand sponsorship is manufacturer brand. We have own brand name which is Hangout fast and delicious. We are manufacturing all types of fast food in our restaurant through our special and qualify cook those are previously worked in renowned fast food restaurant in Bangladesh. Managing brands As a new fast food brand in Bangladesh we just start our business and trying to create brand loyalty among our targeted customer.
But we will manage our brand name Hangout through Advertizing when will be one of the leading fast food brand in the local market. We will ask our customer for their experience when they eat our food and ask them if we have any mistake when we serve the food items. If we will satisfy our targeted customer they will be our loyal customer and finally they will share their experience to others about our better service.
The danger of using low price as a marketing tool is that the customer may feel that quality is being compromised. Hang out is a manufacturing fast food restaurant. So we decided setting price based on the costs of producing, distributing and selling the product a fair rate that a customer can satisfy. To run this business in future perfectly we should set price based on cost. P a g e 11 Our fixed costs are- 1.
Rent 2. Employees salaries 3. Restaurant operator license 4. Utilities 5. Food manufacturing equipment Variable cost- 1. Raw food 2. Salaries for extra staff during special event 3. Packaging cost Besides cost based pricing we set our food price based on competitive price. Hangout keep low price on all foods to compete with other local fast food restaurant. We then add menu items that appeal to all ages of the family as well as single adults.
Great employees make for a great restaurant. Our restaurant also provides excellent and friendly customer service to support the ambience of our old- fashioned yet classy and refreshing environment. Yvonne Cortez with the partnership of Mr. Sherwin Delfinado LOCATION: Restaurant will be located inside the airport to accommodate customers waiting for their flight and tourist who desire to experience the delicious Filipino foods and cuisine. We will expand into a number of branches by year three as we strive to become the number one restaurant choice for all families, male or female, young and old.
Instead of offering a five-page menu, we consider offering a smaller number of dishes and doing them really well. People need to know what our restaurant is about — keeping our menu aligned with our restaurants unique proposition. So we ensure that our success, our entire team — from management to hostess to wait staff and busboys — must be dedicated to our customers. Every contact of our staff makes with customers will be pleasant, welcomed and accommodated.
We will create a customer loyalty program. Get a responsive website that looks great on desktop, tablet and mobile phone. Engage in social media and digital marketing. We want everyone to feel the cozy and refreshing atmosphere of our restaurant. Therefore, the execution of our concept is the most critical element of our plan. We will actively build our brand, through the selling of supporting materials, such as merchandise, promotional items and other marketing gimmicks similar to those of other fast food franchises.
Leveraging the volume of fries, Italian Soda, and signature style sauces to be sold, we are serving the majority of Singaporeans. Our logo is distinct as fresh, energetic and playful with color elements that are eye catching. Product names are geared toward the target market teens , with items such as "Frenzy Fresin" and "Uber Fresin" which are fun and easy to remember.
Our most important tactic will be "word-of-mouth" and in-store marketing. The second tactic will be local store marketing. Also, the various wars have increased the awareness of many Americans with foods from different cultures. This has spawned a trend toward restaurants featuring food from Europe and Asia.
An American original, the diner, spread across the country and soon evolved into chain restaurants operated by local and regional corporations. During this period, a new restaurant concept grew up from the corner hamburger stand. The fast food restaurant was started from such humble beginnings and quickly multiplied.
Over the next two decades fast food matured and changed at the same time to meet the changing tastes of the public. While fast food chains experienced significant growth, restaurants evolved also. During the late 60's and 70's, "natural" food restaurants became popular, only to give way to nouvelle cuisine in the 80's.
The trend in the 90's is to healthy food low in fat, cholesterol and sugar. The national restaurant industry includes approximately , restaurants plus , fast food restaurants, according to the National Restaurant Owners Association NROA. NROA estimates that combined restaurant sales reached 4. The local market reflects the national trends. Growth Factors The number of restaurants will grow at an annual rate of 7.
Department of Agriculture. The growth can be attributed to many factors, such as a continued trend toward two income families, thus eating out more for lunches and having little time to prepare a meal after work. The biggest potential for growth involves food prepared for consumption, or take-out food. As the name Pasta Now! The local area will experience a growth rate above the national average due to the rapid growth of the population throughout Nevada.
Product Lifecycle The restaurant industry is in a rapidly growing phase. Although this growth trend means opportunities for increased sales volume and higher profit margins, overhead must be closely monitored. The importance of quality control, purchasing, low overhead, advertising and marketing cannot be overstated. At all of the Pasta Now! Attention must be paid to trends, however, and changes should be made early in both the menu and the decor before customers become bored and move on to a newer experience.Packaging cost Besides cost based pricing we set our food price based on competitive price. Learn how to perform a SWOT analysis 5. We expect a high degree of enthusiasm and offer a fun store with friendly staff that reflects the company's youthful and energetic culture. Our first location will be on the larger end of this range. Department of Agriculture. A combination of local media and local store marketing programs will be utilized at each location. NROA estimates that scientific restaurant sales reached 4. Glassdoor 3. In Bashundhara sawdust people have high economic condition. The underline tactic will be happy store marketing.
Conflicts are inevitable in the fast-paced restaurant industry, and dealing with conflicts immediately helps keep them in check. While fast food chains experienced significant growth, restaurants evolved also. Marketing Process Pasta Now! We differentiated our product based on service, product and people. However, this plan will be implemented when the one "market tester" outlet showed potential growth. Image of the firm: Most of the time price setting depends on the organizational image.
Second, we want to keep the price point at lunch as fair as possible to keep us in competition with other fast food outlets. We believe, however, that the best form of advertising is still "buzz. So we ensure that our success, our entire team — from management to hostess to wait staff and busboys — must be dedicated to our customers. Our main focus will be serving high-quality food at a great value. It is also capital intensive and as well rewarding, so it is very essential to have a sound business strategy in place.
We did not make too many or too little food in a day.