RIVERSIDE RESTAURANT

SUBMITTED BY:

UNNATI SAHARKAR (P1143)

RIVERSIDE RESTAURANT

• THE RIVERSIDE  RESTAURANT PROVIDING HEALTH AND TASTE. Establishing a seafood restaurant that offers variety of sea food.The interior will be designed in such a way that the customers feel as if they are having dinner or lunch on a riverside with a soothing  atmosphere and customers will feel good and pleasant in such an atmosphere.

PRE LAUNCH RESEARCH

• Research will be conducted to see as to what is the traffic at the place where restaurant will be opened. If it’s a crowdy place there are chance of getting more customers.• Questionnaires will be filled to check whether there is sufficient demand for the seafood restaurant in the area as well as city.

MARKET SEGMENTS

GEOGRAPHIC

CITY: Baroda

DEMOGRAPHIC• Age: from 12 yrs to 60+, under 12 yrs will also be my

customers as they will accompany with their parents.• Gender: Male, female.• Income: From 2 lac p.a

PSYCHOGRAPHIC

Lifestyle: culture-oriented, taste-oriented.

BEHAVIORAL

Occasions: regular, special

TARGET AUDIENCE

• People who are taste lovers especially lovers of sea food from middle class to high income group will be my target customers.

PRODUCT CATEGORY

• Restaurant comes under service category.

CUSTOMER VALUE• Providing healthy food with taste, ensuring to serve

fresh and best tasted sea foods. Hygienic and pleasant atmosphere that attracts customers.

IDENTIFYING COMPETITORS

• My competition will be directly with other restaurants offering sea foods.

ENTRY BARRIERS• LOCATION• Restaurants live and die by location. Excellent locations

are visible, easily accessible traffic, and surrounded by businesses that complement the restaurant well. They also offer plentiful and cheap parking. Even if I do manage to find a good location, there will be sizable rent or mortgage costs, which can be difficult to cover during the initial months of business

• COMPETITION

When a new restaurant opens, it is in immediate and direct competition with nearby restaurants, which might already have loyal customer bases. Winning these customers over might be difficult in the initial stages, especially if my restaurant offers fare similar to restaurants that have a lock on that niche.

• LACK OF START CAPITAL

Lack of sufficient start-up capital is one of the biggest barriers to entry in the restaurant industry.

EXIT BARRIERS• Exit barrier is free as it is monopolistic market. There are

numerous firms waiting to enter the market each with its own "unique" product or in pursuit of positive profits and any firm unable to cover its costs can leave the market.

INTEGRATION

BACKWARD INTEGRATION

To grow various vegetables, wheat, rice required in own farm which ensures healthy and unorganic vegetables. This can help to provide customers taste with health.

FORWARD INTEGRATION:

There can be no forward integration as the product of my restaurant goes to end users.

PRODUCT LEVELS

• CORE BENEFIT:

 

Restaurant- taste with health.

 • BASIC PRODUCT:

 

sea food served with variety of dishes in an unique way.

 • EXPECTED PRODUCT:

 

Good ambiance, healthy food with taste, clean.

• AUGMENTED PRODUCT

 

Live music, garden space, all kind of sea food available.

POTENTIAL PRODUCT

 

Expansion of restaurant into resort and expanding in terms of different place.

SERVICE DIFFERENTIATION

• DELIVERY: Free home delivery within 20 kms, discounts available online with snap deal.

• MAINTENANCE AND REPAIR: maintaining utensils and plates, service of various equipments used for cooking.

• CUSTOMER CONSULTATION: training the employees in dealing with customers.

SERVICE DISTINCTIONS

People based: As restaurant is service industry so it is people based as people are needed for making food as well as delivering

 Service processes: fast service, free service within 5 kms.

 

CATEGORIES OF SERVICE MIX: Restaurant comes under HYBRID category as equal proportion of both service and product is required.

REFERENCE PRICING

• There will be 10% discount in the initial period of opening and then original price will be charged.

Going rate pricing: Pricing will be decided on the basis of rate on going in the restaurant sector of my class of restaurant. Price will be kept on the basis of quality and type of sea food served.

COMMUNICATION PLATFORMS

ADVERTISING• Printing ads• Brochures• Billboards

SALES PROMOTION• Contests• Coupons

EVENTS• Special discounts on festivals.

PUBLIC RELATIONS• Email newsletters and bulletins• Event notifications• SMS alerts• SMS booking reminders