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SUBMITTED BY:
Avinash Singh Yadav (18BSP2259)
Suchitra Dubey (18BSP2734)
Shreya Dasgupta (18BSP2684)
Ameya Pendbhaje (18BSP2209)
Charmi Ruparelia (18BSP2289)
Tanvi Pareek (18BSP4209)
Aakash Gupta (18BSP3683)
Shivi Saxena (18BSP2676)
INDEX
S.NO. TOPICS
1 INTRODUCTION TO BUSINESS
2 SEGMENTATION , TARGETING & POSITIONING
3 MARKET RESEARCH
4 UNIQUE VALUE PROPOSITION
5 MARKETING MIX
6 MARKETING STRATEGY
7 COMPETITOR ANALYSIS
8 SWOT ANALYSIS
9 MENU
INTRODUCTION TO BUSINESS
INTRODUCTION
The popularity of theme restaurants has skyrocketed in recent years because of
the parallel growth of the market for items of nostalgia. As fast food restaurants
offer cheap food in cookie-cutter buildings, theme restaurants offer diners a
good meal, as well as an experience. Theme restaurants such as Hard Rock Cafe
use music, well-trained waiters and themed menus to set the mood for an
interesting dining experience.
FEATURES
SPECIFICATION
SEGMENTATION
Market segmentation is the process of dividing a market of potential customers
into groups, or segments, based on different characteristics. The segments
created are composed of consumers who will respond similarly to marketing
strategies and who share traits such as similar interests, needs, or locations.
GEOGRAPHIC
This restaurant is located in the heart of the city of Bangalore. The area is
densely populated with people speaking different languages. The climate is also
more or less pleasant in Bangalore.
DEMOGRAPHIC
Since our restaurant is based on cricket theme, people from age group 16-50
years are interested in watching cricket in India.
This restaurant is specially designed for high income group and high end of
middle income group people.
We even cater to couples and families. There is a special lounge for such
customers.
PSYCHOGRAPHIC
Customers who are not willing to sit at home & watch cricket rather than dine
outside and enjoy watching cricket, our restaurant is the best place to hangout
with your family, friends or alone.
BEHAVIORAL
Coming to our restaurant, one can take the feel of sitting in the gallery of a
stadium and watching live cricket.
TARGETING
Marketers do targeting for segmented target. After segmenting they see which
market to target.
We mainly cater to those customers who love watching cricket either with their
family, friends or alone. We mainly target high income and high end of middle
income group customers.
POSITIONING
For the first time in Bangalore , the cricket lovers can hangout and get the
feeling of a stadium as our theme is completely based on cricket and there will
be cricket matches running on huge screens, so that customers continue to get
entertained whenever the visit our restaurant. Our logo also depicts the same, so
that even when people pass by our restaurant, they are sure to get attracted and
hop in.
MARKET RESEARCH
To know more about customer preferences and their like and dislikes we
conducted a survey in which we asked random people to fill the questionnaire
and on the basis of that we reached at the conclusion that this type of Lounge
will be appreciated and this is a new concept in Bangalore. The results of the
survey are as follows.
UNIQUE VALUE PREPOSITION
Lounge offers seamless entertainment to the cricket lovers along with various
Cuisines is served and sheesha is offered to make you feel like an Emperor.
MARKETING MIX
The restaurants that secede are after great marketers. They ruthlessly focus on
the key channels that work and are always improving. The key to successful
theme based restaurant marketing is:
Product:
Some ideas work within the theme and some fight with it. The problem begins
with the restaurant owners and chefs start designing their menu (products) for
their theme.
When you are putting items on your menu as per the theme, you need to think
of it as well as composed symphony instead of a minute of different genres and
time period.
Your menu is a place to showcase a variety of menu items executed as per the
theme.
The right thing to do at the start is to make restaurant with data and study the
F&B market to make a good decision.
Price:
How did you come up with the price for theme based restaurant?
Firstly, our pricing should be contingent upon what it costs us to produce
market and cover expenses. We also need to consider what our market will
bear. As our restaurant is cricket theme based:
We can change our prices as per the leagues happened.
Special offers whenever our country wins and also for IPL.
Also consider the league duration like T20, one days and test series because
the change in price as per the theme attracts the cricket lovers.
Place:
Is my restaurant located near the stadium or cricket clubs or cricket
academics?
Is it easy for customers to find our restaurant?
Should I make come signs or bill boards so that customers can recognize my
place?
Does the decoration is as per the theme, and does it attract the cricket lovers
and other customers.
What are other distribution channels to maximize my sales? Is it legal? Should
I do it myself or via third party?
Promotion:
Great restaurant don’t just train when they hire someone new, they make
training a priority and a constant process. The fastest way to grow your sales is
to grow your people.
In digital era there are many channels to promote our new thinking.
We can use instagram, Facebook or create a webpage of our cricket theme
restaurant.
Promote the restaurant via using cricket terminologies like: boundary, sixes,
free hit etc.
MARKETING STRATEGY
COMPETITOR ANALYSIS
To sustain in the market we must do competitive analysis, which will not only
help to understand our completion but it will give us an opportunity to do better
and grab the attention of their customers.
Looking at a broader view, our prime competitors are all the restaurants who are
into the business of providing quality food to customers. Not only the
restaurants but also the dhaba and all the street food courts can be counted as
our threat.
Our restaurant is quite different from theirs as we are providing feel of cricket
along with delicious food which we guarantee you will not get anywhere in
Karnataka.
Our prices are also competitive which can be affordable by our target customers
and we can successfully fulfil their needs and demands.
SWOT ANALYSIS
MENU