Wednesday, February 27, 2013
Marketing Mix : Product
"Product means the goods-and-services combination the company offers to the target market." (pg.54) The product we offer is both an actual product and an experience. We provide the finest wines and premium alcohols. The alcohol is distributed to us through a US vendor, while all of our winery is imported. The imported flavor is what our customers love most. We ensure that each of our customers leave satisfied with our above and beyond customer service. "Just because they don’t start with a P doesn’t justify omitting them. The answer is that services, such as banking, airline, and retailing services, are products too." (pg54). We make sure to maintain the "at ease" vibe in the establishment. We keep the music at a moderate volume level. The customer has the opportunity to change the music by using the jukebox to make them feel more at home. We take pride in making the customer feel like their business is welcomed and appreciated.
Target Market Strategy
"Marketing provides a guiding philosophy—the marketing concept—that suggests that company strategy should revolve around building profitable relationships with important consumer groups." (pg47)
"The first question is “What consumers will we serve?” (market segmentation and targeting)." (pg31) Our target customers are women of the age of 25 and 45. We are aiming towards those women who are workers, students, moms, etc. Our customers are mid class citizens that can afford a $8 plate of spaghetti and a $5 glass wine. Our customers will n
"The second marketing strategy question is “How can we best serve targeted customers?” (differentiation and positioning)." (pg31) Run commercials or print ads showing the current women of today fraternizing with the younger age group. Run promotions on products and events with young women enjoying themselves in the establishment.
"The first question is “What consumers will we serve?” (market segmentation and targeting)." (pg31) Our target customers are women of the age of 25 and 45. We are aiming towards those women who are workers, students, moms, etc. Our customers are mid class citizens that can afford a $8 plate of spaghetti and a $5 glass wine. Our customers will n
"The second marketing strategy question is “How can we best serve targeted customers?” (differentiation and positioning)." (pg31) Run commercials or print ads showing the current women of today fraternizing with the younger age group. Run promotions on products and events with young women enjoying themselves in the establishment.
Structure and SWOT Analysis
The SWOT analysis is very important in the success of a business. You have to know all your company's strengths, weaknesses, opportunities and threats to make a plan for each of them. How can you utilize your strengths to better your company? What will you do to overcome your weaknesses that are holding you back from all of your potential? Do you know how to oversee your opportunities and build on that? Can you get passed the threats you may be subject to and if so how can you accomplish this? These are all questions you should be asking yourself before you jump right into it.
I have put a lot of thought into the strengths of my company and they are things that can put us above our competition. At Amore's Bar and Lounge we offer a relaxing experience for women to come eat and drink comfortably. We also five women the opportunity to be themselves and the assurance that they will not have to deal with men drooling all down their backs to get their attention. We have quality service at an affordable price. "Strengths include internal capabilities, resources, positive situational factors that may help the company to serve its customers and achieve its objectives." (pg55) We offer ladies night on certain days of the week to bring fun and excitement to the business as well as a need to come. We also participate in giving back to the community by giving hosting "Man Auction Fundraisers" and giving all proceeds to a local foundation.
"Weaknesses include internal limitations and negative situational factors that may interfere with the company’s performance." (pg55) As any other business we do have our weaknesses. They include the inability to create desire from everyone. We are geared only to women, but all are welcome. This can be a bit of a difficulty with those women who are in relationships and enjoy going to the same bar as their significant other. Another weakness of ours is our experience. The owner of the business is a first time bar owner
"Opportunities are favorable factors or trends in the external environment that the company may be able to exploit to its advantage." (pg55) One of our biggest opportunities is our location. We are located in Summerlin and that can create a desire for only those in the area as opposed to it being in a central area where more people can know about it. We have opportunity in our expansion to several chains in vegans.
"Threats are unfavorable external factors or trends that may present challenges to performance." (pg55) Competition is increasing daily and this continues to be our biggest threat. We have to continuously create desire for our customers to come to our establishment over other bars in town. The economy is also a hardship on our business.
I have put a lot of thought into the strengths of my company and they are things that can put us above our competition. At Amore's Bar and Lounge we offer a relaxing experience for women to come eat and drink comfortably. We also five women the opportunity to be themselves and the assurance that they will not have to deal with men drooling all down their backs to get their attention. We have quality service at an affordable price. "Strengths include internal capabilities, resources, positive situational factors that may help the company to serve its customers and achieve its objectives." (pg55) We offer ladies night on certain days of the week to bring fun and excitement to the business as well as a need to come. We also participate in giving back to the community by giving hosting "Man Auction Fundraisers" and giving all proceeds to a local foundation.
"Weaknesses include internal limitations and negative situational factors that may interfere with the company’s performance." (pg55) As any other business we do have our weaknesses. They include the inability to create desire from everyone. We are geared only to women, but all are welcome. This can be a bit of a difficulty with those women who are in relationships and enjoy going to the same bar as their significant other. Another weakness of ours is our experience. The owner of the business is a first time bar owner
"Opportunities are favorable factors or trends in the external environment that the company may be able to exploit to its advantage." (pg55) One of our biggest opportunities is our location. We are located in Summerlin and that can create a desire for only those in the area as opposed to it being in a central area where more people can know about it. We have opportunity in our expansion to several chains in vegans.
"Threats are unfavorable external factors or trends that may present challenges to performance." (pg55) Competition is increasing daily and this continues to be our biggest threat. We have to continuously create desire for our customers to come to our establishment over other bars in town. The economy is also a hardship on our business.
Objective
The mission of Sugar Lumps Bar and Lounge is to give ladies a place to eat, socialize and have a good time in a comfortable and convenient way. We ensure that every experience with you is a positive, memorable and exciting journey! At Sugar Lumps we'll bring a good time, you just bring you! We intend to :
1. maintain a positive and steady growth in the company quarterly
2. continuously give an exciting experience to new customers which make them long-term customers
"The company needs to turn its mission into detailed supporting objectives for each level of management." (pg41)
Financial objectives include:
1. annual double digit growth rate
2. reduce variable costs (packaging, labor expenses, etc.)
3. decrease fixed costs (electricity, advertising, etc.)
1. maintain a positive and steady growth in the company quarterly
2. continuously give an exciting experience to new customers which make them long-term customers
"The company needs to turn its mission into detailed supporting objectives for each level of management." (pg41)
Financial objectives include:
1. annual double digit growth rate
2. reduce variable costs (packaging, labor expenses, etc.)
3. decrease fixed costs (electricity, advertising, etc.)
Business Mission Statement
Sugar Lumps Bar and Lounge is a privately owned small cooperation in the bar industry. We offer various kinds of
products and services to the public.
Our mission is to give you ladies a place to eat, socialize and have a good time in a comfortable and convenient way. We ensure that every
experience with you is a positive, memorable and exciting journey! At Sugar Lumps we'll bring a good time, you just bring you!
"Mission statements should be market oriented and defined in terms of satisfying basic customer needs." (pg40)
"A company’s mission should not be stated as making more sales or profits—profits are only a reward for creating value for customers." (pg41)
"Mission statements should be market oriented and defined in terms of satisfying basic customer needs." (pg40)
"A company’s mission should not be stated as making more sales or profits—profits are only a reward for creating value for customers." (pg41)
Week 8 BOC : Progress on My Final Project-Bar
My project so far is just ending its brainstorming stage. I put some of the ideas I have for my bar in my previous blog. I have not decided on a name for my bar yet. The theme I decided on was a calming and relaxing luncheon like bar. The interior of the bar would consist of four colors. A deep red, pink, black and gold. There would be black and red couches in the lounge area made of polyurethane. The idea of the polyurethane material is to be money efficient as well as comfortable and to look elegant. There is not much of a care factor when it comes to the material so if stuff was to be spilled on the couches, I wont have to worry about replacing them due to the ease of cleaning it.
The layout of the bar is pretty simple. At the front of the place would be the cashwrap. Then in the middle of the place would be the actual (circular) bar area. The back of the bar would be the lounge area with the couches and karaoke stage set up. Throughout the bar will be circular mini tables where customers can sit and eat and set their drinks down on.
The advantages of my bar would be that the "Ladies Night" and "Karaoke Night" events on the weekend. At the register there would be a suggestion box that women can submit what kinds of songs they want to recommend for Karaoke Nights for Friday night. On Saturday nights there will be a "Man Auction Fundraiser" that goes on for a local foundation in the Las Vegas community. A specific foundation has not been decided yet, I'm still in the process of deciding and researching. Another advantage of my bar would be the ease of women coming to a bar and enjoying themselves without the constant harassment they would encounter in other local bars.
The layout of the bar is pretty simple. At the front of the place would be the cashwrap. Then in the middle of the place would be the actual (circular) bar area. The back of the bar would be the lounge area with the couches and karaoke stage set up. Throughout the bar will be circular mini tables where customers can sit and eat and set their drinks down on.
The advantages of my bar would be that the "Ladies Night" and "Karaoke Night" events on the weekend. At the register there would be a suggestion box that women can submit what kinds of songs they want to recommend for Karaoke Nights for Friday night. On Saturday nights there will be a "Man Auction Fundraiser" that goes on for a local foundation in the Las Vegas community. A specific foundation has not been decided yet, I'm still in the process of deciding and researching. Another advantage of my bar would be the ease of women coming to a bar and enjoying themselves without the constant harassment they would encounter in other local bars.
Week 7 EOC : Resteraunt Pitch
2801 North Tenaya Avenue, Las Vegas, NV 89128
The bar would be targeted to women. The experience would take the negative feel
that women get from men in ordinary bars. The décor of the bar would be
relaxing at the same time fun. Women
would be able to have a place to come with little to no worries. Women love to talk, so a bar with mainly
women will spark up some conversation.
It would almost appear to be like a luncheon. There would be different kinds of foods
offered. More traditional foods would be
on the menu. Foods like nuts, popcorn
and pasta would serve well with a glass of champagne. Ribs , steaks, fish and burgers will go well with
wines like Red Moscato. Finger foods
like chicken fingers and fries would also be served. There would not be a local band of any sort
there. There would be music playing out
of the speakers in the ceiling. The
music being played would be more of pop music to keep the ladies entertained
but not seem too much like a club scene.
A few advantages that my bar would have is that they
customers would feel comfortable and at ease in my bar. They would not have to
deal with the constant harassment from men that they would receive at other
bars. My bar would also conduct a “Ladies
Night” excitement theme on Fridays and Saturdays. At the register there would be a suggestion
box that women can submit what kinds of songs they want to recommend for Karaoke
Night for Fridays. On Saturday nights we
throw a “Man Auction Fundraiser” for a local foundation in the community.
The interior of the place would consist of a warm
and calming feeling. The colors of the theme
would be red, pink, black and gold. The
couches would be polyurethane. There
would be a bar stool area for those women who decide they want to eat alone or
just want to get in and out. The place
would be pretty spacious too. The overall feel for my bar would be a place for
women to go to get away and enjoy themselves. It would feel more as a regular spot that
women come to rather than just a local bar.
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