HADM 305 - Restaurant Marketing Feasibility Framework: Tool...

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Restaurant  Marketing Feasibility Framework: Tool used to help breakdown a market Very relevant for entrepreneurs and for people valuing assets in the marketplace Reference the feasibility study checklist The General Market (on a macro level) Direct competition – competing for the same consumer at the same price rate for the  same/similar product Indirect competition – product can be substituted for your product and targeting same  consumer Is competition growing? Is the market share declining? What is the general market trend? Key changes in the marketplace   Taverna Banfi Value Drivers Location/convenience Quality Students Product offerings [i.e. banquets] SHA , Cornell Card Wine list
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Tuscan-themed villa Know your value drivers to gain loyal guests! Large amount of competition due to on-campus dining, restaurants in Ithaca (i.e. JTs,  Madeleine’s, The Heights) The Grid System Demand Generators Concept Descriptors Competition S.W.O.T. Analysis o Strengths o Weaknesses o Opportunities o Threats Be sure to use industry benchmarks as a reference.
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Menu Development I don’t have any notes for the phases of menu design…maybe you might! Demand Generators Grid Restaurant outlet:                                                                                                                                          Weekday Weekend Delivery  Systems Target Markets Breakfast Lunch Dinner Room Svc Banquet Beverage Concept Grid Descriptors Breakfast Convenient Fast Convenient Lunch Fast Fast Fast Dinner Inexpensive X O Room Svc X X Banquet X X Beverage X X Competition Grid Descriptors Competitors Competitor #1 Competitor #2 Competitor #3 Competitor #4 Breakfast Convenient = + = Lunch Fast + - + Dinner Room Svc Banquet Beverage
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Ten Rules of Menu Design Make the font size large enough Be honest…Don’t LIE!!! Don’t allow the chef to plan and design the menu alone. Mention ingredients that are common allergens Avoid gratuitous descriptions (i.e. fresh, hand-carved) Don’t over organize the menu (don’t go OCD over it) Check spelling Do not put desserts on the main menu – may hinder appetizer sales
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HADM 305 - Restaurant Marketing Feasibility Framework: Tool...

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