Question

Opening a new Puerto Rican restaurant please answer the following marketing plan questions.

SWOT Analysis (identify internal strengths/weakness and external

opportunities/ threats

Target Market (identify with demographics, psychographics and niche market

specifics).

Competition (describe major competitors assessing their strengths and

weaknesses.)

Market Trends (identify industry trends, location, and customer trends).

Market Research (describe methods of research; database, survey, interview,

state results ).

Answer 1

1- SWOT analysis:

SWOT refers to strength, weaknesses, oppotunities and threats that will come along the establishment of a business.

The strength of a restaurant resides in the quality of food they offer, services offered at the table and atmosphere provided to the people which makes their eating a memorable experience. One of the strength will include giving high-quality food at lower prices as compared to the other restaurants in the area.

Weakness will give an idea of things which needs to be improved in your restaurant. One concern may be of training the staff about etiquettes they should follow while delivering food at each table. Other concern could be of shortage of raw materials being supplied. You need to keep a track of things before the stock gets finished.

One should look out for opportunities that will help in expanding the business. You should offer delivery services to home. Competing restaurants in nearby areas can possess a threat to your restaurant. Prices may be a tough competition.

The restaurant should be located at a place where maximum residents are living. The competitors should be in less number. Even if there are competitiors, the prices should be lower than as compared to other restaurants.

Restaurants should give a cozy atmosphere to the people. It should be a perfect place for family dinner.