Level 2 Chapter 1 Slides 9-16

Open Ended

What are the four P's?

MONITORING A PROMOTION SCHEME

• Develop promotional scheme
• Can work with public relations firm
• Plan the new promotion
• Track sales
• Discuss positive and negative effects of promotion

MARKET SEGMENTATION

Target marketing:
• Guest-driven
• Treats people as different
• Focuses marketing appeal to specific guests
• Helps operation target resources toward customers

MARKET SEGMENTATION

Mass marketing:
• Assumes everyone has same needs and wants
• Restaurants and foodservice operations should avoid
• Wastes time and resources

Multiple Choice

What are the two areas of Market Segmentation?

• Promotion Schemes & Target

• Price & Product

• Mass & Target

• Mass & Marketing

SWOT ANALYSIS

• Also called a situation assessment
• Stands for: strengths, weaknesses, opportunities, threats
• Determines success of operation’s strategy
• Used to make improvements

SWOT ANALYSIS

Strengths:
• Areas where operation excels
• Examples: clean facilities, high food quality, good service
• Exceeds guest expectations

SWOT ANALYSIS

Weaknesses:
• Operation should eliminate
• Examples: dirty facilities, high staff turnover, poor service

SWOT ANALYSIS

Opportunities:
• Areas where operation can improve
• Increase revenues or decrease costs
• Examples: creating delivery service, getting volume discount
• Identify as part of marketing plan

SWOT ANALYSIS

Threats:
• Outside factors that can decrease revenues or increase costs
• Identify to control
• Examples: increased competition, increased costs, road construction