Sunday, 4 December The Four Ps of Marketing So I was reading a marketing question on a forum today from a guy who was promoted from being a waiter in a Cajun restaurant to being director of marketing. He had no idea what to do and most people were suggesting various promotional tactics such as giving free meals to hotel clerks. I was transported in my mind back to marketing class, which was one of my favourite classes because I had a great teacher and I understood it well. So I went through a classic analytical model, one of the basics they teach in marketing class.
This posting is dedicated to my friend, Mr.
Tong a restaurant manager. RMto RMis considered low enough compared to setting up a multinational firm. Probably true, since the growth rate of restaurants greater than growth rate of customers in that area.
This intersection is called profit-maximisation. In other word, profit of the restaurant is maximised when MR marginal revenue is equal to MC marginal cost.
Flirting with P could be a little difficult. Increasing the price may lead to fall in quantity of food sold in near term. In other word, losing the customers.
The more sensible, but indirect way of price increase would be to reduce the amount of chicken, rice, hor fun, putting more ice in the drinks etc while maintaining the same price. From economic point of view, this refers a necessarily increase in demand. To increase demand the following can be done: Earlier, Kar Heong has launched an advertisement in the form of booklet.
According to him, it was effective in pulling a larger crowd to the restaurant. It costs them about RM4, Never belittle the power of advertisement. The short term advertising expenditure should not be seen as a great barrier towards greater sales in future b ii Credit card facilities.
At the meantime the restaurant is accepting cash payment. Later it will have credit facilities as well.
This is important since modern urban consumers are increasingly not carrying cash with them when they go out b iii Good customer relationship.
I saw you did it that day, congratulations! I remembered a businessman told me that if you can make the kids like you, for some reason you have already won the heart of their parents. This will ensure them to come more often.
Also I recommend, greeting the names of those regular customers.Marketers must remember that their marketing strategy will have to appeal to hundreds of thousands or even millions of people.
For a marketer to implement its strategies planning is vital. Further more, the modern advertising campaign utilizes “unique icons appearing in advertisements to benefit brands beyond merely their identification of the product” (Garretson & Burton ).
Therefore, advertising campaign is one of the compulsory promotion methods of Serai Garden restaurant. Margin and Breakeven Analysis Simulation Paper 4Ps in helping restaurant maximise thier profit Contribution Margin and Breakeven Analysis Contribution Margin Contribution margin How to Start a non profit Inncrease Profit Margin Non Profit Insurance Co.
Non-Profit Hospitals Non-profit Simple Ways To Increase Your Restaurant Profit Margin Margin. People start clustering, communicating with people depending on their need. For example, Sales people cluster with other Sales people and Finance people communicate more with other Finance people.
So, communication is maximum within clusters and there is minimum inter-cluster communication generally. Dec 04, · Their current plan is to give away 75 free meals to hotel clerks to encourage them to promote the restaurant, and have flyers with coupons available for potential customers.
The coupons give the client free gumbo with their attheheels.com: Nathan Williams. Mar 16, · Understanding the restaurant marketing mix and having a model optimized for your restaurant is critical to an effective marketing system and the key to success when it comes to restaurant profits and staying competitive.
The marketplace is fiercely competitive for restaurants and pizzerias with local competition and big-chain attheheels.comon: Chicago, Illinois.