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Marketing Plan The Lighthouse Restaurant Essay

6148 words - 25 pages

ContentsI.Executive Summary 4II.Customer Analysis 4A.Customer Needs 5B.Market Trends 5C.Current and/Or Potential Customers 6D.Market Research7III.Market Situation 8A.Macro-Environment Situation 9B.Micro-Environment Situation 9C.SWOT Analysis12IV.Product Strategy and Tactical Plan 13A.Product Strategy and Rational14B.Product Tactical Plan16C.Customer Experience 17V.Place Strategy and Tactical Plan19A.Pricing Strategy 20B.Product Life Cycle Strategy21VI.Promotion Strategy and Tactical Plan 22A.Promotion Strategy and Rationale 22B.Product Life Cycle Strategy23C.Promotion Tactical Plan 24Bibliography/ References 28Executive SummaryThe Lighthouse restaurant is a value-for-money healthy eating restaurant, located in the central business district. It will present constant innovation to enhance customer satisfaction to grow into a health food chain.Clients of the Lighthouse restaurant will be from those that work in the business district and after acceptance, they will help the restaurant to gain acceptance. The Lighthouse restaurant will offer deliveries, fast pick-ups, in-house meals and monthly packages for office workers in partnership with others. Healthy eating at the right price is essential for everyone and this means that with a diverse menu, the right place and innovation the restaurant can be a success in the face of tough competition. The Lighthouse will be the leading health food restaurant in Woodbridge.Marketing will play a fundamental role in the success of The Lighthouse restaurant. The Lighthouse must build a product about the services it offers by greatly promoting itself through local television, radio, and print advertising. Marketing efforts are just the beginning by the time a potential customer enters The Lighthouse Restaurant for the first time. A strong importance will be placed on keeping customers and building product loyalty through some programs focused on staffing, experience, and customer satisfaction.Financial analysis indicates that the Lighthouse will breakeven in about nine months after commencing operations with earnings of $50 - 60,000 .Customer NeedsIn 2007, the global health food market reached $120 billion dollars. (Wood) Healthy food sales are estimated to grow by at least 10% for the next few years. (Wood) One variable that contributes to market growth is an increase in the number of hours our demographic is working. As the number of work hours increases, there is a high correlation of people that eat out at restaurants. This is instinctively explained by the fact that with a limited number of hours available each day, people have less time to prepare their meals and eating out is one way to maximize their time. Forty eight percent of the family dollar is spent on eating out. ( The Lighthouse restaurant situated near busy office complexes that are at their busiest during the day, while operating at reduced capacity during night, is likely to attract...

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