Global Media Management - Essay Example

Global Media Management Global Media Management Outline: Introduction The Project Evaluation 7.ps technique Views on luxury services Views Company Views Findings and Recommendations Global Media Management Introduction For the purpose of completing this assignment I have selected three high class restaurants from the food service industry. Some of the details of these restaurants are Gaucho: Gaucho is a chain of restaurants all across the London and specializes in the food and drinks items Roka: Roka London is a restaurant is London and specializes in most of Japanese food items. Nozomi: Nazomi is the restaurant that based in London is based and specializes in food items and also have established Bar. I have analyzed, examined and evaluated market strategies of these three food service industries. For this purpose I have used a major market strategy technique the “7 ps”. I have also discussed the factors from different prospective those are involved in the market strategies of these industries. The 7 p’s The key factors behind the successful market is depends upon man elements. For a specific product or service these factors include the elements of, what a company is going to produce; how much the company is going to charge for their product or service; in which way the organization is going to deliver the product or service to its potential customers; and finally what is way for introducing to the product or service to its customers. In traditional marketing system these steps are referred to a term of 4 P’s. These four P’s includes Product, Price, Place, and promotion. In recent modern changes in marketing strategies, people are thinking beyond their thoughts and further included 3 P’s as a marketing strategy tools. These three P’s are People, Process, and Physical evidence. Process and physical Evidence are directly related to service industries. An analysis, examination, and the evaluation of the selected food service industries from the prospective of 7 P’s strategy is mentioned below. Way of workings: For better understanding, I have discussed the role of each factor for selected restaurants in tabular separately. The First P; Product This factor states that there is no need to develop those products which no one wants to buy. The main is aim is to provide the perfect product that has some value to costumer. As we are researching the market strategies of service industries, the main aim for the service providers is that they provide those services that a customer wants from them, not to offer those that they want to offer their costumer. An analysis of selected service industries are mentioned below separately. Gaucho Restaurants London Roka Restaurants London Nozomi London Gaucho London Provide a wide range of Products to their potential customers. The main products of Gaucho London are food items, Wines, Drinks, Bar, and cigar. Gaucho also offers a quality of food menu to starters. Food menu contains above 50 major dishes. This restaurant is another name of argentine culture and that’s why they offer a wide range of argentine wines collection. Most of their wines are mode through argentine methods. They offered a wide variety of wines for the satisfaction of their valuable customer. Gaucho also offers a large numbers of Argentinian hand-picked selections of premium drinks. Gaucho offers the award winning wine list and they claim that they are much passionate in their wine collection and quality. The Gaucho also offer take out deliveries to their customers. WIFI facility is also available at the all Gaucho restaurants. Roka London Provided a quality Japanese food to their customers. Roka menu contains many of Roka special dishes, and some of desert food items. Roka also offer their quality of soups collection to their valuable costumers. Roka offer a list of wine in relation with Japanese meal, and great care is taken in selection of wines for the customers. They provide a range of tasting menu to their customers. This includes above 20 of their major dishes. Roka also offers a stunning facility of lounge to their valuable customers. Nozomi offers the services of drinking, dining, and entertainment at one place. Nozomi offers a range of launch and dinner menus to their costumer. They specialize in their wide range of food items includes all the Japanese, and desert dishes. They also offer a list of quality wines to their valuable customers. They also offer the private dining and restaurant hiring facility to customers. Nozomi also offer the take out and delivery services to their valuable customers. The Second P; Price A product or service has only worth when the costumer is able to pay for the offer. This depends upon different assumptions like more you charge for the product or service is more value and quality for the customer. And if you plan to charge high for your product and service than you should be aware form your competitors. As we are researching service industry those are related to food. In this case it is necessary for a restaurant that how much the price is offered to their customers in relation with its food menu. The main purpose of this technique is to grab the attention of their customers are offering the service in an efficient manner. A Price analysis of the selected service industries are described below: Gaucho Restaurants London Roka Restaurants London Nozomi London Gaucho offers a variable price plan for their service to their potential customers. Average price for the food items is between £25 - £34 Some food items for starters are available as low as £4.65. On the other side of coin Gaucho offers also some expensive food items at the rate of above £100. The mid-range price items are also available. The Gaucho also offers the high quality wines at the rate of above £200. But on the other side of coin Gaucho is also offering the glass facility at low price. Gaucho also has lots of options in their bat menu and offers a variable rate for their different bar items. Gaucho offers the take out service to their valuable customers at the rate of 12.5% delivery charges. The purpose of variability in prices is to grab the attention of all kinds of customers. Gaucho offers the WIFI facility to their customers at free of cost. Roka also offers a variable price plan to their potential customers. Average price for the food items of Roka is between £55 -£ 64. Roka offers the wines at some expensive price. Roka charge £50 per bottle averagely. Drinks are available at different range of prices according to their types. Nozomi offers the different range of pricing plans for their customers. Nozomi offers the average price for their food items in between £45 - £54. Nozomi charge 15% services charges on their services. Nazomi offers the wines at variable prices. These variable prices include low to high ranges depends upon the types of wines. Nozomi offers take out and delivery facility to their customers at affordable rates. Nozomi offers two menus for private dining at the rate of £79 and £99 respectively. The Third P; Place A place, from where the customers can buy the products or can attain the services is most important factor in the success of any service or product. That is necessary for a successful business that product or service must be available at right place and at right time. For example we are focusing on the food service industry so the place where selected restaurants are located is the most important factor. A short analysis form the prospective of place is described below for the selected business. Gaucho Restaurants London Roka Restaurants London Nozomi London Gaucho has 14 branches across the London. The services of Gaucho can be availed form the Gaucho places are: Gaucho Broad gate Gaucho Canary Gaucho Chancery Gaucho Charlotte Street Gaucho City Gaucho Hampstead Gaucho Leeds Gaucho Manchester Gaucho O2 Gaucho Piccadilly Gaucho Richmond Gaucho Sloane Gaucho Smithfield Gaucho Tower Bird Roka is located on 37 Charlotte St Westminster, London W1T 1RR, United Kingdom. And opens for lunch and dinner at different timings all over the week. Nozomi is located on Beauchamp Place in Knightsbridge. The ground floor houses the bar, with several seating areas, whilst the restaurant is located up a small flight of stairs along with some more tables a bit further up. The Fourth P; Promotion Promotion refers to the condition of communication with customers to promote the product or service. This simply means that what a business is offering to their customers. It can be in any form like branding, advertising, expeditions and somewhere special offers etc. it also include customer feedback because a one way communications is not effect way of good promotion. Let take the example from our food service project. If management of the restaurant wants to introduce a new meal package they can offer the deal on some discount at starter stage. Feed backs on the new meal package from customers can act as a lifesaving technique. In this way management can make the service more efficient while promoting their service. Some of the promotional factors of selected business are stated below. Gaucho Restaurants London Roka Restaurants London Nozomi London The management of Gaucho promotes their services by organizing the different cultural and musical events at their restaurants. Gaucho is also promoting their restaurant through internet. All the details and prices of their menu and services are available on their website. They are promoting their services by offering the online booking facility on their website. People can book the tables easily regarding their requirement form internet. Roka restaurants promoted their service by introducing the stunning lounge. Roka is also promoting their services through internet. They have published a website with attractive style on internet. All the information about their services can be achieved from their website. Roka offers the online booking facility for their customers, anyone around the world can book the place by ordering from internet. The management of Nozomi is promoting their services by making the arrangements of private events and private dining. They are promoting their website through internet. All the information about new services and packages with full details are available on the official website of Nozomi. The facility of advance reservation is available on the Nozomi’s website. People can book their plans easily from the website easily. The Fifth P; People In market strategies the term “People” is used for the people who come into contact with customers. The main reason of this is that anyone who comes into contact with customers will make the impression and leave a deep effect on the customer mind. So this is necessary for any business that all the people who are attached with the business are must be the best people for specific job. As in our research case the serving staff should be well trained for food services. In this specific area the behavior of the people who are attached with the business is the main key for the success. Gaucho Restaurants London Roka Restaurants London Nozomi London Gaucho has a co-operative or well-mannered attending staff. Gaucho aims to focus on the each and every thing. And for this purpose they the management has appointed the well trained staff for every field. They have 16 senior personnel who are attached with different fields and specialist in their own filed. Like creative director, operational director, Finance director etc. Roka claims that they have the co-operative and trained staff to serve the people in efficient manner. The state that there main aim is to develop the understanding about their services. The management of Roka claims that their people are key tool to grab the attention of people at their services. Nozomi state that they hire the best staff for their restaurant management. And due to this factor Nozomi won the award of best Restaurant Bar 2011. Nazomi claims that they have right people who are taking part in the promotion of Nozomi day by day. The Sixth P; Process The term “process” is described as the process of giving the services to customers. The main reason of this purpose is that the customers have no any intension that what are you doing inside, they just need services in proper manner. For example in food service industry the main purpose is to provide quality of services in efficient manner. A short analysis of the chosen business sector is describes below: Gaucho Restaurants London Roka Restaurants London Nozomi London Gaucho claims that they always try to provide the services to their customer in efficient manner. Gaucho launched the online reservation facility for their customer and can be availed from their website throughout the world. The management of Roka state that they try their level best in proving their services to valuable customers. Roka launched the online reservation facility for their customer and can be availed from their website throughout the world. Nozomi state that they are trying to provide their restaurant as the way of drinking, dining, and entertainment at one place and serve their people in efficient manner. They have launched the online reservations facility for their customer for advance booking. In addition private reservation and hiring forms are also available on the Nozomi’s website. The Seventh P; Physical Evidence The main theme of the physical evidence is based on the idea that any service cannot be experienced before delivered. This directly means that choosing some new service is a risky one for any customer. They factor can be reduced by showing the customers that what are they paying for. As for the food service industry physical evidence can be in form of videos, photos, or by some other means by showing their staff working etc. some of the physical evidence in the form of pictures of selected businesses is shown below. Gaucho Restaurants London Luxurious Factor: Food Quality: Roka Restaurants London Luxurious Factor: Food Quality: Nozomi London Luxurious Factor: Services: 2.The Luxury factor The selected venues is another name of luxury life style because all the accommodations style, facilities, packages, services are directly referred to a luxury life style. For example these three restaurants provide luxurious sitting arrangements for customers. On the other hand management of all three restaurants is trying to run their function in efficient manner. They are focusing on every minor thing that can help to increase the reputation of their business. An example of this can also be seen in the case that these three restaurants are decorated by the famous Interior designers. The building structure and the location is also act as the main factor to create luxury for these restaurants. In short these venues can create luxury factor easily due to their style, services and modern development. 3. Costumer View I have visited the three selected venues and made a questioner with a customer on the topic of their motivation of visiting the venue. The evaluation of the results from each venue is stated below separately. Customer Views Gaucho Restaurants London Roka Restaurants London Nozomi London Some of the people found Gaucho a lil bit expensive. On the other side they are also much satisfied with the quality of food too. Many of people objected on the dark decorations and colors everywhere in Gaucho. Some of the people state that dark combinations of colors make a horrible look but on the other side of coin some people also state that they love the décor of because of their nature. Some rare people have also negative remarks about the services. Most of the people state that their past visiting experience motivates them to visit again the Gaucho. Some of the new visitors are much impressed with the services and quality of food and have plans to visit next time in future. Many of people state the reason of their visit is delicious food. People appreciated the per head rating and they think that they paid less for the services provided. Many of the people are just satisfied with the servings. Many people state that the wines in Roka restaurant are extra expensive. Rare of people also found Roka disappointing, they state the much of staff are not serving properly. Some of staff is just standing idle. Most of the people state that affordable rates for meals are a motivational factor to visit Roka again. Most of the people found Nozomi as the best place for Japanese food. Many of people suggested the service of Nozomi as “Superb”. They found the staff co-operative. Rare people have also negative reviews about but many of the people disagree with them and state that they have not found anything wrong in Nozomi. Many of the people answered that the main reason is to visiting again the Nozomi is that it is the superb place with a lot of entertainment and delicious food. Graphical representation of Services : total grades: 5.0 4- Company view I have conducted an interview with the Manager of Gaucho Restaurants. Some of the details of the result are shown below: According interview results from the manager I thought that the gaucho relies on the strategic marketing approach. And for this purpose restaurant developed marketing strategies that stressed on Argentina culture. Another main factor that has contributed to the success of gaucho is its place. The location of the restaurant has been important since many visiting Argentinean find it easy to reach the restaurant. According to the management many of the clients want great atmosphere, interior and better design of the restaurant. According to management the main challenge for them is to handle the large number of customer in this season. They have only a specific capacity but the clients are increasing day by day. And for this problem Company has strategized on corporate expansion to meet the needs of the clients. 5- Findings & recommendations After a deep examination of the business that provides luxury services I have made different conclusion form different prospective. As for the view of general people, generally the luxury services are another name of comfort and easy life. For example, a luxury home can increase the value of and status of people. On the other side of coin there all luxury services are much expensive and cannot be attained by everyone. You must have a lot of money in pocket to feel the taste of these services. Now day’s food industries have become a big source of luxury services. According to my observations much of people thought that these services are necessary for their life style. The food services have made the quality of foods and standards much better. In recent days new varieties of foods and dishes offered by restaurants. As for the business point of view the business in food industry is a profitable one in recent days. Once if you get success than you just need to maintain your standards. On the other side modern marketing strategies are playing a big role in the development of these services industries. For example the selected business can make their performance and functions much better and can perform in more efficient way with the help of 7p’s technique. Other markets techniques like planning, development can also be used. In Short, these food service industries are the main part in providing luxury facilitates to people and can work much better by focusing their target customers with the help of modern market strategies. References Official website of Roka London http://www.rokarestaurant.com/ Official website of Gaucho London http://www.gauchorestaurants.co.uk/ Official website of Nozomi London http://www.nozomi.co.uk/ Read More