The document discusses marketing strategies for a new Italian and pizza restaurant chain. It recommends Strategy B, which involves providing a large dining area with a fun, exciting atmosphere and energetic staff to create a distinctive experience like an Italian cafe. The marketing mix for this strategy includes Italian cuisine products at a price point of Rs. 1000 for two, located in high-end areas of tier 1 cities. Promotion will be through social media, targeted ads, billboards and food delivery apps. The physical space will provide a high-end dining experience with luxe decor and live music. Focusing on outstanding service and customization will help the restaurant succeed by attracting urban epicureans and younger generations looking for innovative experiences.
The document discusses marketing strategies for a new Italian and pizza restaurant chain. It recommends Strategy B, which involves providing a large dining area with a fun, exciting atmosphere and energetic staff to create a distinctive experience like an Italian cafe. The marketing mix for this strategy includes Italian cuisine products at a price point of Rs. 1000 for two, located in high-end areas of tier 1 cities. Promotion will be through social media, targeted ads, billboards and food delivery apps. The physical space will provide a high-end dining experience with luxe decor and live music. Focusing on outstanding service and customization will help the restaurant succeed by attracting urban epicureans and younger generations looking for innovative experiences.
The document discusses marketing strategies for a new Italian and pizza restaurant chain. It recommends Strategy B, which involves providing a large dining area with a fun, exciting atmosphere and energetic staff to create a distinctive experience like an Italian cafe. The marketing mix for this strategy includes Italian cuisine products at a price point of Rs. 1000 for two, located in high-end areas of tier 1 cities. Promotion will be through social media, targeted ads, billboards and food delivery apps. The physical space will provide a high-end dining experience with luxe decor and live music. Focusing on outstanding service and customization will help the restaurant succeed by attracting urban epicureans and younger generations looking for innovative experiences.
The document discusses marketing strategies for a new Italian and pizza restaurant chain. It recommends Strategy B, which involves providing a large dining area with a fun, exciting atmosphere and energetic staff to create a distinctive experience like an Italian cafe. The marketing mix for this strategy includes Italian cuisine products at a price point of Rs. 1000 for two, located in high-end areas of tier 1 cities. Promotion will be through social media, targeted ads, billboards and food delivery apps. The physical space will provide a high-end dining experience with luxe decor and live music. Focusing on outstanding service and customization will help the restaurant succeed by attracting urban epicureans and younger generations looking for innovative experiences.
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Marketing Strategy
Assignment- 1 Developing a Marketing Mix
QUESTIONS: Q1. Which of the four strategic options suggested would be the most effective in competing in this market?
The most acceptable marketing strategy for the new Italian and pizza restaurant chain would be 'Strategy B'. This strategy involves the provision of a large dining area, creates a fun and exciting dining experience, fun energetic and outgoing staffs, and also the ambiance of the restaurant should look and feel like a café in Italy. All of these strategies build an image of distinctive and specialised services provided by the restaurant to its customers.
Q2. For the strategy that you selected in Q1, develop an appropriate marketing mix
The marketing mix of the Italian pizza restaurant chain involves a product, price, place, and promotion, physical evidence and people. As per the strategy-B the appropriate marketing mix is as follows: 1. Product Italian cuisine: Pizza’s, pasta, linguini’s buffet, bar keep 2. Price Rs. 1000 for two 3. Place High end localities, tier 1 cities, shopping malls, corporate complexes, etc. 4. Promotion Social media ads, targeted ads (SEM), Billboards at prominent places, Food delivery Apps (Zomato/Swiggy). 5. Physical evidence High end dining experience, luxe decor, outdoor dining, courteous staff, live music. 6. People a) Restaurant Manager b) Kitchen Staff c) Service staff d) Cashier e) Bartender Focus should be on creating a comfortable atmosphere with a constant drive to improve on the dining service and experience by taking inputs from the customers, and implementing it in a swift manner. Employees must be dedicated to assisting the customers in any way possible, also encouraging them to spread positive word of mouth. 7. Process Urban or uber rich class, epicurean of Italian cuisine, younger generation.
Q3. Do you think that this new pizza chain, as you have constructed it, will be successful? Why?
Given below are reasons that make this strategy successful.
There is a strong high-end foodie culture growing online, fuelled by social media. High-net-worth individuals are looking for new and innovative dining experiences. 81% of luxury consumers search for fine dining restaurants through mobile apps and 75% make decisions from those search results. There is immense potential for upscale restaurants to reach customers prior to launch. With strategy B, we are going to create a fun and exciting dining experience in the restaurant. Perception of selecting a restaurant depends on the quality of food, and the quality of service they provide. By employing energetic, approachable and communicative staff helps customers to have an amazing time for their visit. This would help the reputation of the restaurant which in turn helps the growth and profit maximization. With this strategy we will be able to grab eyeballs of all generations by providing them the worthy time out of their hectic schedule with fun and entertainment. This would give us the edge over other dining restaurants and get the hangover early.
