Zenas Business and Marketing - Essay Example

?3. Product and Services: The company seeks to produce products of high quality and particularly offer s with products that are tailored to their own request, hence providing them with an outstanding hospitable experience. We shall borrow our idea from McDonalds, who are instructed by their customers on how to combine different food contents and they follow their instructions exactly. However, the difference with our company is that we shall offer a wider variety of items that are adaptable to customer demands. Besides, we shall borrow many good practices from different restaurants; including offering customers quick serving so they can save time, packing them foods so they can eat it away from our stores, and many others practices from renowned companies such as Starbucks, McDonalds and Subway. Our company will also offer customers a wide variety of sizes to choose from, for example by packaging products in small, medium, and large sizes. This strategy will also be intended to attract different customers with different levels of incomes and preference for different sizes. Zena will sell some products that are rarely sold in other restaurants, such as backed chips, a strategy that will go a long way in creating a competitive advantage. Our restaurant will produce a lot of products that attract schooling students such as fries, and sauces. This strategy will ensure we get a lot of customers because the area has so many schools, colleges and universities. In order to establish the value of its products, Zena will focus on the significance of comparing quality with price, and this means that the customers must be guaranteed value for their money. The customers will be offered superior quality on all products and services to ensure they are fully satisfied and contented with the money they spend on our items (Cannon & Morgan, 1990). The products and services of Zena will be offered in a truly unique environment so the customers can experience not only satisfying products and services, but also a comfortable and admirable ambiance. This kind of fashionable atmosphere will be used to offer products at somewhat higher prices and still ensure that the customers are satisfied since the products and services will guarantee them value for their money. What’s more our company’s focus on offering products and services of high quality and ensuring that our employees are well-trained to offer superior services is another strategy that will be used to charge customer’s relatively higher prices than some of our competitors and still retain them (Gu 1997; Ingenbleek et al. 2003). It is also important to note that sometimes the prices will vary with the cost of supplies. If we get supplies at lower prices we shall probably reduce the price for our customers, but if we get supplies at higher prices we shall have no option but to increases our prices so we do not compromise our profitability targets. If we get supplies at higher prices and hence forced to increases the prices that we charge our customers, we shall ensure that we provide very high products and services so the customers continue doing business with us. Alternatively, we shall ensure that our prices are adjusted according to “product-by-product” and “market-by-market basis. Zara will also implement strategies that will retain price-sensitive customers, for example by packaging very small quantities of fries such that those customers can still perceive them as affordable (Govindarajan, 1989). Keys to success: Ensuring that the customers are offered high quality meals in a comforting and attractive atmosphere that creates a sense of value for customer’s, as well as differentiating us from our competitors. Having high quality products and satisfying customer care as part of our strategic goals. Target segment Our company targets customers from different backgrounds. While our primary targets are the young people who are attending neighboring colleges, universities and schools, we shall also target people who are in their shopping mission, tourists, and white collar workers working in the neighboring offices. Regarding generational groups, we are targeting the young married couples with children, and baby boomers. In terms of income levels, our aim is to target all low income as well as high incomes levels, all in the middle bracket. Marketing Programs To market our products, we shall use different marketing tools, including wall posters, holding parties, use of word of mouth and in-store marketing, offering in-store to new customers, offering table tents, holding regular outdoor marquee messages, grand opening celebrations, and annual birthday parties. Besides, we shall be holding local store marketing through programs such as offering of free T-shirts to guests that dine in our restaurant, conducting of honor roll and perfect attendance programs in schools, as well as running of a car wash sites. We shall also rely a lot in the local media to promote our business. This includes advertising our concept by use of attractive pictures and giving a clear message on our pricing. The radio will also be used to hold a campaign on our products and our live parking lot. We shall pick the radio stations that are most popular with the local people, especially those that appeal most to the youth who forms the largest proportion of our target group. In these stations, we shall ensure that we place catchy messages/ads, and also sponsor some radio call-in challenge, whereby winners will be given free meal coupons. In addition, free radio time will be exchanged with our dinner coupons. What’s more, we shall sponsor healthy lifestyles talks, whereby we shall explain the nutritional value of some of our products. Distribution Distribution is involves all the activities that are conducted in the process of transferring products and services from our restaurant to our customers. In other words, this is about the channels that we shall use to link our products and services with the end users. Our business will use different channels to link our products and services to our esteemed customers. The most common channel is the direct supply, where the customers will obtain services and products direct from our outlet. The other more advanced channel, which will be introduced in the later stages of the business, includes licensing of our products to other business owners in form of franchise retail stores, a model that is borrowed from the famous Starbucks outlets. In addition, we shall form partnership with other outlets operating in London and its neighboring towns, who shall help distribute our products and services. Some of the potential partners include fast food cafes, kiosks, and supermarkets, among many others (Porter, 2008). As our business expands, we shall open more stores within London and its neighboring towns, which will go a long way in expanding our geographical coverage (Tartakoff, 2007). Promotion Although we shall highly rely on the advertising media such as TVs, news papers, and radio, during the introductory stages of our business; in later stages we shall focus on promoting our unique brand by innovating more differentiating strategies. In other words, we shall capitalize on our superior brand when our concept is finally entrenched in our customer’s minds, hence cutting the budget on advertising. We shall also highly focus on building our customer’s relations so we may have many loyal customers. This will especially be achieved by offering of incentives which shall stimulate customers’ action and promote sales. Some of these include offering customers discounts for exhibiting environmental friendly practices, free Wife internet usage while using our premises, as well as cheap catering services for the most loyal customers. In addition, we shall introduce rewards programs, which will make more customers to be attracted to our services. These rewards may take the form of free birthday drinks, free tea and coffee refills and registered green and gold cards. Other offers will include offering of flavor shots, soy upgrades as well as free beverage for those who purchase up to a certain quantity of products from our restaurant. These promotions will go a long way in enhancing customer loyalty and boosting of sales (Matzler et al. 1996). Our restaurant will also make use of social media to enhance the relationship with our customers as well as our suppliers. The social media sites that shall be used include Facebook, Twitter and Istagram. Zena will regularly post any useful information for our customers and vendors, including upcoming offers, new products, new services, change in prices, and many other issues. Furthermore, we shall be conducted an open forum so our customers and Vendors can make any important remarks, such as what satisfies or does not satisfy them, their recommendations on how we can improve the way we do business or their own good, the quality of our products, and any other useful comments. Our marketing staff will maintain a continuous contact with those who join our social media forums, and in case they make any relevant recommendations, efforts will be taken to implement them. The company will also maintain a website, which will also articulate similar issues to the social media networks, but most importantly used to encourage stakeholders to air their opinions on any issues such us our brand, menu items, and design and location of our stores. Also, the company will be very active in Social Corporate Responsibility, including organizing environmental conservation drives, promoting youth leadership, fostering diversity within the society, and helping the poor and vulnerable children in the society. The key objective of this program is to improve our company’s corporate and brand image. Read More