Therefore, we conducted thorough competition research based on the geographic area in
Suzhou, where already many nightclub and bars exist today (Suzhoubaike, 2011). The
competition in the bar industry is intense.
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After researching in the area, we find out that Speak Low bar is a direct competitor to our
business, which also promotes the idea of the speakeasy bar and sells similar products to ours
such as cocktail (Speak Low, 2018). Concerning the indirect competitors, Papaya and Haven
Lounge is a famous bar known in Suzhou China. Tt provides substitute products and service
with respect to our business (Papaya and Haven, 2018). In addition, there are many other
potential competitors such as the well-known Pub Street “Shiquan Street”, or the famous bars
attached to hotels (Suzhoubaike, 2011). According to the previous paragraph, to help people
escape from the stressful life, the Déjà vu bar uses one of the strategies from Porter’s generic
strategies, which is the differentiation strategy (Grant, Robert, 2008). As a speakeasy bar, it
incorporates both a teahouse and a bar, and combines Mandarin and Western culture, creates
differentiation and competition in the market (Darrel Suderman, 2014). The Déjà vu bar
provides excellent privacy space which allows the customer to escape from their stressful life
and provide unique cocktail drinks for the customer to have a relaxing experience. The idea
of “Speakeasy” will be considered as the Unique Selling Point for our business.
4.2 Comparative product analysis
Please see
Appendix 7
and
Appendix 8
for the Competitor data collection plan and
Competitive Analysis, which helps to identify the competitiveness of the Déjà vu bar.
Refer to Appendix 7-8
4.3 Commercial strategies and implemented resources
Déjà vu bar has different approaches to promote the business to the niche market by several
commercial strategies and implemented resources, which include a face-to-face presentation,
customer loyalty benefits, websites and WeChat official account.
Keeping in mind the main features of our bar (secret, speakeasy), we have the option to
choose the type of customers we will accept. Before opening Déjà vu, proper public
announcements and advertisement regarding the bar opening are one of the key strategies.
Therefore, to create a membership application form and business card is the first step to start
our marketing strategy. It will approximately cost $200 per month. Please see
Appendix 9
and
Appendix 10
for the membership application form and business card.
Face-to-face presentation
The strategy will be executed through the whole operating time. It will start three months
before opening and about two to three times every day. After opening, the frequency could
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deduct to four times per month. For this strategy, the only cost will be the printing posts
targeting the potential market. It will be $50 per month. By using this strategy, it could easily
maintain the connections between potential customers and the bar (Eztalkes.com,n.d).
