Question

I have a project for marketing class I am opening a dessert restaurant

discuss your marketing goals and objectives both short term and long term goals ( 1 and a half page)

Explain your marketing mix using the criteria addresed ( 4p's) (1 and half page)

Answer 1

The main object of a restaurant should always be to present their customers with the best that they can create. If the products that they are offering are satisfactory, it makes it very easy for the restaurant to be a success. Some of the major short term marketing goals and objectives of a dessert restaurant are :

* Making use of attractive campaigns and advertisement to attract customers and come in their eyes. It is very essential to make use of attractive promotions at the starting, even if they are expensive, because when a business is new, it requires a lot of attention for people to know that something like that exists.

* Research about the target market, potential buyers, area where a dessert restaurant is most needed, the rent of a cafe, the age group of the people that stay in the area, the income of those people, etc, to go about with the plan. Without the essential research work, it becomes very risky to open a new restaurant.

* Free dessert tasting sessions, especially for the food bloggers. In an era where social media is one of the most convenient ways to sell your products, it is very important to reach the millennials and other target groups through sites such as facebook and instagram using professionals such as food bloggers.

* Maintaining finances : In a short run, excessive advertisement and promotion is very important, but one needs to make sure that they have a preplanned budget in mind and they do not exceed their costs beyond what has been planned. It is very important to save money wherever possible so that the company does not have to bear any extra risks.

Some of the long term goals and objectives are :

* Periodic campains and advertisements : The owner should not stop running campaigns once in a while, though not as much as it did in the initial phases. It is very important to keep reminding people of the restaurant's existence and also make the new customers notice the restaurant.

* Good discounts on products : There should be seasonal discounts on the desserts that they offer so that people are attracted towards the offers and such discounts should be offered especially during festive seasons such as Christmas and New Year so that the sales go up.

* Managing the finances is also a long term goal because finances are the backbone of a company and if they are not managed properly, a company can end up being unsuccessful.

* Build credibility : The restaurant should provide with excellent desserts and not charge prices that exceed the expectations of the customers. The restaurant should build a good reputation in the long run so that more people approach it and it become a success, over time.

A proper marketing mix is very necessary, especially for a new dessert restaurant, as these strategies play a vital role while deciding the success of the restaurant.The market mix for the given restaurant is :

Place : Along with determining the place where the restaurant will be opened, it is also important that the places of advertisements, billboards, etc. are chosen wisely, as they are going to determine the footfall in the restaurant. Also, the ambience of the restaurant should be appealing, especially to the target groups so that the restaurant sees more customers in the long run.The parking facility, view from the restaurant, etc. play an important role when determing the place of the restaurant.

Product : The products that the restaurant offers should be good enough for people to return to the restaurant because this product is what the customer basically wants when he visits the restaurant. There should be new and innovative desserts which are delicious at the same time so that the restaurant becomes the favourite spot of the customers. The service provided in the restaurant also plays a major role here, as people do not like to wait and like the service to be good. It is the most important element of the market mix as good food is very important for people to praise the retaurant in front of their family,friends,etc.

Promotion : The overall promotion of the restaurant is a very important tool of marketing mix as it decides how many people will come to know about the existence of the restaurant. It plays a very important role in reaching out to people so that they visit the restaurant, to try the products that it has to offer. The right kind of advertisement to the right group of people is very important in this case. Promoting the products through different platforms, social media being the most important one is very effective. Collaborating with the food bloggers is one of the best ways to reach out to the target groups.

Price : Customers always analyse the price of the products before buying them. If they feel that the product is not worth their money, they do not buy it. It is very important to do a proper research work before setting the prices of the dessert in the retaurant as it will have a great impact on the sale of the desserts. We should set the price after asking ourselves, what would we be willing to pay for a given product. But if the prices are set lower than what they should be, customers might end up doubting the quality of the desserts served. The pricing should be done in such a way that the customers feel that the products are worth the price.