west 50 presentation
TRANSCRIPT
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Marketing PlanSara Mcdonald, Hailey Bowman, Kiran Toor, Aldrin Dias
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Introduction
Research Report Marketing Plan Phase 1,2
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Agenda
Key Macro Environmental Factors
Key Issues
Key SWOT
Financial and Marketing Objectives
Recommendations
Action Plan Flow Chart
Budget
Measuring and Monitoring
Conclusion
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Macro Environmental Factors
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Demographic Environment• Millennials account to 9.1 million people in
Canada
Mississauga• Mississauga is 6th largest city in Canada • Population of approximately 700,000 people
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Economic Environment• About 1.2 million employees were employed in the food
industry in 2013.
• Increase in GDP growth since 2013:
1.7% 2.4% increase in 2014
• Food service sales in Canada lifted 4.6 per cent in 2013 due to high rates of Canadians going to restaurants.
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Economic Environment• Overall commercial restaurant sales is expected to grow
4.2% in 2014 and 4.1% more in 2015
• Disposable income has had a slight increase from 2013
3.5% 3.8% in 2014
• In 2013, drinking places in Canada acquired first sales increase since 2008
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Technological Environment• Faster, more reliable inventory checks• Convenient systems and helpful
gadgets are replacing payment methods and current jobs
• Advancements in free WiFi• Customers use online (mobile and
computer) outlets for information• Big Data analytical tools are being
used
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Key Issues & SWOT
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Key Issues• REVENUE DECLINE
• WEST 50 HAS VERY LOW CONSUMER AWARENESS• Canada’s Largest Pourhouse!
• CUSTOMER ARE HAVING A BAD EXPERIENCE
• SOCIAL MEDIA AND WEBSITE NEED TO BE REVISED
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SWOTStrengths• Largest Pourhouse in Canada• One unique location • Convenient promotions on the weekends • Offer daily specials• Patio available
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SWOTWeaknesses• Lack of Social media content• Too many target markets• Low promotion for events
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SWOTOpportunities • Advertise their wide beer selection • Growth in technology • Many businesses located near by • Schools located near by
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SWOTThreats • Companies are facing potential shortages in employees• Replacing restaurant servers with ipads • The new organic movement • High competition • Negative reviews on social media
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Financial & Marketing Objectives
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Financial Objectives
To increase sales by 15% by the end of fiscal year.
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Marketing Objectives• To gain the awareness of business people and
students. • To re-brand West 50 as Canada’s largest pour
house to retain customers. • To improve current menu to suit target
market• To maintain competitive daily specials &
discounts.• To increase customer satisfaction
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Recommendations
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Re-branding
• Differentiate from competitors• Enhance brand image• Develop strong positioning
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Recommendations
West 50 logo modificationRationale• To position West 50 as the largest pour house in Canada• Enhance customer perception of brand
Action Plan• Improve logo by implementing a beer theme • Hold contest for Sheridan students to create best logo
Measurement• Social media likes/responses on best looking logo
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Recommendations
R&D for unique West 50 beerRationale• Differentiate from current competitors• Increase brand loyalty
Action Plan• Conduct surveys within West 50 about best selling beers• Social media interactions for beer preferences• Contest for new beer name
Measurement• Highest bidding consumer preference
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Recommendations
Upgrade the facility Rationale• To create a visually appealing and continuous pourhouse
theme throughout the facility • To create a better overall experience
Action Plan• Hire a design professional to build a unique, pourhouse
theme • Constant maintenance of furniture and décor
Measurement• Customer feedback through review sites, social media and
surveys
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Recommendations
Implement West 50 UniformsRationale• Enhance West 50’s image as a pour house• Increase customer interactions with staff
Action Plan• Include beer facts on the back of uniforms• Design T-shirt through online custom website
Measurement• Customer feedback through touch points & social media
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Recommendations Develop a better suited menuRationale• To better address the main target markets wants and needs • Ex. Fast service
• To reduce the chances of running out of food or wasting any by having to throw it out
• To reduce the costs of food
Action Plan• Include a wider range of starters• Include ingredients that may be stored longer
Measurement• Number of starters purchased and amount of food costs cut
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Technology
• Integrate through Social media• Technology to serve customers• Enhance customer experience
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Recommendations
Increase social media presenceRationale• To increase customer awareness• Understand customer preferences, needs & demand
Action Plan• Assign specific staff to manage social media• Promote daily promotions & activities• Active social media listening
Measurement• Social media audit (likes, negative/positive response rates)
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RecommendationsWest 50 beer menu cell phone applicationRationale• Improve accessibility for customers• Increase promotional activity
Action Plan• Beer is sorted by name, origin, flavour and popularity• Customers can create personalized beer menu• Advertise West 50 promotions on application• Link social media channels on application
Measurement• Number of customers that have installed the application
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Recommendations
Incorporate E-mail marketingRationale• To increase customer awareness on promotions• Attain brand loyal customers
Action Plan• Collect customer email through beer passport program• Send mass emails from collected emails• Responsible staff members can send emails
Measurement• Number of emails collected through beer passport program
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Recommendations
Install CRM software Rationale• To track purchase frequency for promotional direction• To determine most profitable customers
Action Plan• Collect customer information through CRM software• Purchase software from CRM company
Measurement• Amount of customer information collected
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Recommendation
Implement WiFi HotspotRationale• To attract and accommodate the target market• To provide access to internet for the new application and
reference to website and social media
Action Plan• Implement free WiFi throughout entire restaurant
Measurement• Track how many people use the service regularly
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Marketing & Promotional
• Increased sales via better promotions• Improved customer relations• Increased customer awareness
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Recommendations
Attract Business ProfessionalsRationale• To attract a better suited target market • To differentiate from competitors
Action Plan• “Relax, Avoid Traffic and Have a beer” promotion• Discounted lunch menu
Measurement• Number of business professional customers gained
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Recommendations
Use coupons and ReceiptsRationale• To build a higher customer return rate• To build long term relationships
Action Plan• Promotional receipt and couponing methods• Include rewards at the bottom of receipts• Complementary coupons will be added along with the receipts
Measurement• Number of promotional receipts/coupons used
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Recommendations Encourage Customer FeedbackRationale• To improve customer relationships• To reduce bad reviews and bad word of mouth • To constantly adapt to consumer needs
Action Plan• Implement customer survey feedback on receipts or at
each table in the restaurant• Quick response rate to positive and negative comments
Measurement• Number of resolved conflicts• Use of customer feedback
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Recommendations
Increase efforts towards public relationsRationale• To attract a wider student customer base• Increase corporate social responsibility
Action Plan• Support & sponsor college events • Sponsor a local sports team• Donations towards charitable organizations
Measurement• Total dollars spent on sponsorships/donations• Increase in sponsorship requests
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Recommendations
Personal selling to local businessesRationale• To create awareness of other services West 50 provides• Ex. Meetings, conferences, catering
• Personal selling to local businesses will attract business professionals and increase event bookings
Action Plan• Door-to-Door approach with pamphlets and mailouts
Measurement• Number of businesses booking events• Overall Sales
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Schedule
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Budget
Task Budget Percentage
Public Relations Contribution to the community by sponsoring events at Sheridan college, sponsoring the Mississauga football team and charitable contributions to sick kids/terry fox.
10%
Social Media Hire Candybox marketing and continually listen and promote on social media.
8%
West 50 Beer Research and Development to introduce the new beer & marketing the beer.
20%
Eliminate kids menu Eliminate the kids menu and add smaller meals instead.
5%
Cellular Phone Application Grand cash prize for Sheridan technology students for application development.
5%
CRM Software Purchase of CRM software from salesforce.com
15%
Improved Logo Pay a team of Sheridan students to develop the West 50 logo.
5%
West 50 uniforms Create and order West 50 uniforms from entripy.com.
2%
Receipt & Couponing Print and distribute coupons for customer retention.
4%
Customer feedback Survey Print customer survey feedback for each table at West 50.
2%
Promotion to Local businesses Printing of flyers to be distributed to local businesses in order to gain business.
2%
Facility Upgrade Furniture and overall restaurant design as well as equipment to be upgraded in order to avoid long term maintenance.
15%
Starters Introduction Cost of goods for introducing the new starters every 2 months.
5%
Discounted Lunch Hour Menu Social media promotion of discounted lunch menu.
2%
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Measuring & Monitoring
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Measuring & Monitoring• Monitor web presence• Social media channels monitored• Generate qualitative research• Monitor promoters performance• Evaluate monthly financials• Monitor direct emails• Keep staff connected
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QUESTIONS?