The purpose of the report is to construct a market plan or Grand café Cuisine upcoming restaurant. The current restaurant is located at Tiraspol, Republic of Moldova. We started the restaurant in the year 2012, the business was previously carried out in a temporary structure but it has experience a continuers improvement because of streaming revenue which has been realised since the start of the business. The main services that are offered are cuisine and accommodation facilities (Chernev, 2018).
Grand Café Restaurant is still in progress of restaurant planning for the new venture in Barcelona, in this case this market plan is intended to serve for a launch marketing and also continuers marketing thereafter. The marketing plan was extracted after analysing the current situation of the market in the city of Barcelona by utilising appropriate tools. The aim of the plan is to provide a genuine approach for marketing of the restaurant within the company capabilities.
The business would a partnership form of a business and main objectives of the business idea is to open a new business in Barcelona city. The name of the business as we said early is Grand Café Cuisine which is going to provide accommodation facilities to tourist and the locals, but it would focus mainly on customization of products and services for the foreigners.
Grand Café Cuisine
Mission statement: to sell remarkable and delicious cuisine that match with tourist demand and to provide the customers with unsullied service by exercising warmth, efficiency, graciousness, integrity and professionalism.
Vision statement: to become a famous restaurant, reaching the target of tourist globally.
Values
Firm business objectives and structureBusiness objectives
Business structure
The restaurant would be divide into three cuisine rooms, which would be Italian/seafood, Turkish, and Russian. It would be developed with a good brand name with cuisine which satisfy the needs and the culture of the said countries. The food would be customize to ensure customer satisfaction, for example for the Turkish it would be possible to smoke shish. The restaurant is going to provide customers with comfortable enjoyment with honest care that would make customers to enjoy food and services of higher level. Grand Café Cuisine
Business Location
The restaurant would be located at near EI Prat Airport in Barcelona. The restaurant’s size would be approximately 250 square metres. The place has a conducive environment which is beautiful and cool. The traffic system in the area is convenient and it is only 30 minutes working distance from the airport. Besides, the restaurant is next to the flushest area and are lots of famous entertainment for the tourist
Form
The restaurant would a limited liability company. With time the company is going to developed into large scale and it would be switched into a share company and is going to enhance the development of the company.
Layout
The company restaurant would employ excellent professional designer. The restaurant philosophy would try to utilize the available space to the fullest and make the place to be exquisite.
The plan would be:
The restaurant will be subdivided as follows:
Fine dining – 15-20 square feet
Restaurant dining for full service 10- 15 square feet
Counter service: 14-17 square feet
Fast food: 11-14 square feet
Banguet : 11-12 square feet.
PESTLE analysis
Political- in the recent years, with the issue of increase in the enrolment of students, more graduates have a lot of pressure when looking for jobs. Most of the government policies encourage self-employment. Currently most governments like that of Italy, Turkey and Russia is focusing on the growth and developments of their traditional culture and they are trying their part in developing and spreading their traditional culture (Kuazaqui, 2015).
Economic- in the past few years the economy of Barcelona city has develop very fast because of the influx of tourist, these has caused the economic improvement and most people from the region are becoming rich. This have led to the consumers to have new consumption thoughts and deep knowledge with the society.
Social – the social and cultural environment would involve the cultural background and the population environment. The services and food staff would be from design to enhance the cultural activities of different nations.
Technological- the restaurant would be design with modern technology from the food staff to tools and equipment used in the kitchen.
Environmental – restaurants should be operate in a manner that does not pollute the environment, waste from the restaurant should be recycled or treated very well before disposal.
Legal – the start of the restaurants will mean that we will have to plan our type of food, menu and restaurant décor but many legal concerns should also be address before serving our firs client. Handling legal issues properly would help the business not to fall into legal actions or fines. The government regulations and policies differ from one country to another and must be adhered to accordingly. The requirements to fulfil this legal requirements may be zoning, type of business structure licensing insurance and many others.
Sector/industry analysis
The participants the restaurant would be: the manager, chief chef, chef 1, chef 2, chef helper, servant 1, servant 2 and servant 3
Start-up summary
The start-up cost would involve rent, facilities, marketing, sales, marketing and promotion, design of website, license amongst other costs.
Start-up
Requirements unit: USD
Legal 1000
Rent 800
Facilities 5000
License 300
Other 5000
Start-up Assets
Initial capital 6000
Other current assets 5000
Fixed assets 1000
Total Assets 12, 000
Total Requirements 25, 100
Start-up Funding
Start-Up expenses to fund 13000
Start-up assets to fund 1300
Total funding required 25100
Assets
Cash required from start-up 12000
Balance on starting date 12000
Total assets 12000
Capital and liabilities 12000
Liabilities 0
Current borrowing 0
Long-term liabilities 5000
Outstanding bills 0
Other current liabilities 0
Total Liabilities 0
Capital
Planned investment
Contribution from friends and relatives 1000
Others
Required additional investment 0
Planned investment total 100,000
Start-up Expenses 3100
Total liabilities and capital 12000
Total funding 25100
Competition analysis
Our main competitors would be La Dama, Bar Canete and Enigma this are the best restaurants currently that offer the same services
The competitive structure in Barcelona currently is very stiff, nevertheless our organization would employ the following strategies to beat the restaurant competition and increase revenue:
Offering and resources analysis
We would need the following resources for the restaurant to run smoothly
Equipment and suppliers – we will require the following appliances for the new restaurant: freezer, refrigerator, dishwater, cookware, pots and pans among other equipment
Permit and licenses- we would be required to acquire licenses for the operation from the local authorities of Spain. The permit that would be required is health permit which is offered after the inspection of the work place.
Staff- Manager, chief, chef 1, chef 2, chef helper, servant 1 and servant
Value chain analysis
Operations- our main area of operations would be Barcelona city, tourist and residents who would be free to be offered with accommodation and food staff at a fee.
Services – our main services would be accommodation facilities
Marketing and sales
Performance analysis
The following table shows the profit and loss projection for our company in the first 3 years
Market definition and analysis of the clients and potential available market
We identify the market by analysing the existing restaurants in Barcelona and we found out that most of the existing restaurants does not customize their services to meet the need of the customers (Lidstone & MacLennan, 2017).
Segmentation of the clients
The current market segment of the industry is offer best segmentation which help the company to target specific customers in order to maximize sales. The following are the current and variable segments for the clients:
Geographic- Grand café Cuisine target mainly tourist from Italy Russia and turkey who come to Spain, the food and drinks would be customized to fit the cultural practices of the tourist.
Demographic- the target group of people would be both male and female over the age of 16 years regardless of occupation or social-economic group.
Psychographic – the restaurant would be useful to people who enjoy eating organic and cultural food
Behavioural- the Grand café Cuisine is going to attract individuals in the society who like to spend heavily to meet their satisfaction.
Current marketing elements of the company and current value proposition
Pricing- our current pricing is premium, it is design to provide consumers with high quality products and service. The price is based on targeting on different clients so as to meet their different needs. Our pricing strategy is also reputational, most clients may have thoughts to perusing reputation of some goods or services. In this case we set up our prices to be higher than the similar products or services so as to remove psychological barriers.
Positioning – our quality products and services focus on three points that is: tasty and refined food, fresh and elegant atmosphere and friendly services
Promotions
Our products and services are current being advertise twice a day in a local television channel we have also booked newspapers and magazines to provide frequent advertisement to our clients. For the past two year we have been able to create brochures, fliers and post cards. This has help so much in creating awareness of existence in the market and the services we offer.
Current targeting of the firm
We are currently targeting tourist that come mainly from Italy, Turkey and Russia and the Barcelona city residents as well
Current market measurements and penetrated market measurement
Current market measurement
Currently we have approximately 50,000 people residing in Tiraspol city and about 30 percent of the frequently come to the restaurant. An average of 100 tourist are received in the region every day and about and most of them seek accommodation from our restaurant. (Gilligan & Lowe, 2018).
Forecast market measurement- we are looking forward to expand the market by opening the new one in Barcelona and concentrate more on customer specification so as to increase the sales. We are targeting a total 200 tourist daily and about 5% of the population who reside in Barcelona city.
Current positioning
Our quality products and services focus on three points that is: tasty and refined food, fresh and elegant atmosphere and friendly services.
Strengths
Cultural atmosphere- the products and services would be design to fit the cultural practices and beliefs to the visitors. The restaurant would have a high culture of high class with unique catering and special characteristics and would be based on deep ethnic background
Healthcare care – among the products that would be offered is the Chinese flower, these flowers when consumed would improve the immunity of the body, reduce body internal heat, regulate body function and improve eye sight amongst other advantages
Location advantage- the chosen place is Barcelona city, Spain. This place has a very factors which are beneficial to the tourist (Theaker, 2017).
Weakness
Lack of capital- cost advantage does not exist. Catering industry has grown very sharply in the past five years. Some brands are also increasing their marketing. This may bring us some negative impact to our restaurant (Stephenson, 2018).
No specific group of customers- the expected customers are only base on the number of tourism arrival into the area but there is no guarantee that they would need for the services, another thing is that some of them may not be aware of the products flavor or health function and may take time for the customers to realize and accept (Paley, 2017).
Opportunity
Due to the constant development of Spain’s catering industry, income and employment quantity isi increasing in the industry. Most of the restaurants in Spain have started to realize the importance of brand shaping, aiming on the advancement of the scale of business by utilizing franchise and business chain. Many restaurants in the area deal mainly the western food, the food is booming gradually but most of them are still operating on low scale. Today, as level of income is advancing, customers will not only get interested with the taste of the food but it will also look it at the food diversification, health leisure, balance nutrition, cultural connotations and the dinning environment. The current Spain’s catering industry, most of the companies have started to focus on the development of food product and transferring food culture (Silva and Las, 2017).
Threats
The basis of a catering industry is to have delicious food and excellent services, for this to be realized there must be an excellent administrative staff, waiters and chefs. Due to the existence of many kind of business in Spain, the organizations are in demand for customers and talented employees as well. Currently we do not have sufficient managers and chefs in the industry this has the sensation of talent grapping (Davis, 2017).
Because the business is new and we do not have enough capital, it is difficult for us to grab talents which would be a big threat to our business.
Scenario formulation
The following table shows the assumption of the revenue that would be received per week.
Scenario forecasting measuring
|
Breakfast |
Lunches |
Cost per unit |
Total |
|
|
Monday |
50 |
100 |
120 |
2700 |
|
Tuesday |
50 |
100 |
120 |
2700 |
|
Wednesday |
25 |
50 |
60 |
135 |
|
Thursday |
75 |
150 |
180 |
4050 |
|
Friday |
75 |
150 |
180 |
4050 |
|
Saturday |
75 |
150 |
180 |
4050 |
|
Total revenue |
17,675 |
Profitability and productivity forecasting measurement- we anticipate to realize have a net profit of 120,000, 140,000 and 160, 000 in the first send and third year respectively
Generic strategic formulation
Ansoff’s matrix give us the four matrix that we are going to employ for our growth strategy: (Gurcaylilar & Aksoy, 2018).
Setting up the marketing goals
Our marketing goals would be based on the following factors
Satisfaction of customers and loyalty – our key objectives our restaurant is to ensure that our customers get satisfaction of our goods and services in order to build repeat visit. In a research done by National Restaurant Association found out that 66% of adults in America in the 2014 reveal that they would keep using the same restaurant only if their loyalty and reward would be taken care of (Cravens & Piercy, 2010).
Restaurant traffic generation – this means that growing the base of the clients and to have the busiest meal services. To attain this objective we would put in place heavy advertisements and carrying out promotional activities.
Achievement of financial goals – our main goal of this business is to make profit. Our goals will be outlined and measured after every week to determine our visibility. We will try our best to reduce cost in order to maximize profits (Burns, Bush & Sinha, 2014).
Formulating targeting strategies
We are going to formulate mainly on differentiation marketing, niche marketing and micro marketing. In new venture we are going to provide clients we separate offerings according to their origin. Each of the three cuisine would have unique benefits that benefits difference class of people according to their culture. With the niche marketing strategy we are going focus mainly on group of individuals, the three rooms would be libelled turkey, Italy and Russia and it would focus mainly to benefits of these class of people. We are going to figure out also the issue of micromarketing by preparing food staff that target only individual from certain location (Brooksbank, Subhan and Miller, 2018).
Formulating green and sustainable strategies
Prior knowledge of business location – before we open our new business in Barcelona it would be very important for us to know what is on the site first of all, these may be water, habitat, plants and many others.
Selecting a good building architecture- we are going to locate a site that meet our meet the needs of our building program. We are not going to force a building size and design that does not fit our requirements. This will help us minimize consequences from grading or erosion issues and will make site maintain the natural resources.
Water management- issue of scarcity of water and poor drainage will be addressed through the design of treating rain water, capture and store it for re-use.
Formulating repositioning strategies for brand, products and services of the firm
We are going to set up our product position to high class restaurant with lots of wealth enjoyment and cultural atmosphere. We are also going to maintain our unique high flavour food and excellent services. Because our target customers are the tourist and are wealthy. We will set our initial prices in Barcelona to be a bit higher because we will be dealing with high class of people (Bentley, 2018).
Quality positioning- our restaurant would provide high quality products than that is in the existing market. We will prioritize in meeting the customer satisfaction by providing products and services of higher customization. We will keep learning from other organization that perform very well so as to improve on our dishes.
Price positioning – our pricing services would remain to be premium prices with good services and excellent products with high customization
Brand positioning –we are going to gather different needs and feelings when creating brands. The business would be managed with latest theories, acquiring the needs of the customers and also establishing a good reputation of excellent services.
Conclusion
For us to develop this business idea we did a comprehensive research from various journals, articles, books and internet sources, out of this we gain a lot of knowledge which help us develop this market plan for the new business. We have learn how to: create a business idea, identify potential market, analyse market and how to compete favourably with existing competitors (Andreasen, 2018).
References
Andreasen, A.R., 2018. Challenges for the science and practice of social marketing. In Social Marketing (pp. 3-19). Psychology Press..
Bentley, C., 2018. Integrating Oral Health into Social Marketing Campaigns: Program Development and Description for San Francisco Children’s Oral Health Strategic Plan. Pacific Journal of Health, 1(1), p.2.
Brooksbank, R., Subhan, Z. and Miller, S., 2018. What differentiates successful strategic marketing among manufacturers in an emerging vs developed market?. Asia Pacific Journal of Marketing and Logistics, 30(2), pp.309-332.
Burns, A.C., Bush, R.F. and Sinha, N., 2014. Marketing research (Vol. 7). Harlow: Pearson.
Chernev, A., 2018. Strategic marketing management. Cerebellum Press.
Cravens, D.W. and Piercy, N., 2010. Strategic marketing (Vol. 7). New York, NY: McGraw-Hill.
da Silva, E.C. and Las Casas, A.L., 2017. Sports Marketing Plan: An Alternative Framework for Sports Club. International Journal of Marketing Studies, 9(4), p.15.
Davis, J.A., 2017. Measuring Marketing: The 100+ Essential Metrics Every Marketer Needs 3rd Edition. Walter de Gruyter GmbH & Co KG.
Gilligan, C. and Lowe, R., 2018. Marketing and Healthcare Organizations. CRC Press.
Gurcaylilar-Yenidogan, T., & Aksoy, S. 2018. Applying Ansoff’S Growth Strategy Matrix To Innovation Classification. International Journal of Innovation Management, 22(04), 1850039.
Kuazaqui, E., 2015. Considerations on the Marketing Plan for Brazilian Micro Enterprises. Revista de Micro e Pequenas Empresas e Empreendedorismo da Fatec-Osasco, 1(1), pp.3-21.
Lidstone, J. and MacLennan, J., 2017. Marketing planning for the pharmaceutical industry. Routledge.
Paley, N., 2017. How to Develop a Strategic Marketing Plan: A step-by-step guide. Routledge.
Stephenson, D., 2018. The president and strategic communications: Finding balance and trust. Community College Journal, 88(4), pp.6-7.
Theaker, A., 2017. What is public relations?. In The Public Relations Strategic Toolkit (pp. 17-27). Routledge.
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