Transcript La Madre
La Madre Delivering the Mediterranean Experience to Bakersfield Katie Bracker, Jamie DeQuillettes Kevin Duffy, Jared Grant Curtis Jensen, Jeff Studtman Purpose Venture Theme Restaurant Entertainment Target Market Rabobank College students Professionals Families Downtown employees Navigation Mission: To enhance the downtown Bakersfield community through a Mediterranean patio dining and entertainment experience Transformation Value Chain Inbound Logistics - Food - Beverages - Entertainment Operations - Butchering - Vegetables - Beverages - Hot Stones Outbound Logistics - Décor - Space - Delivery Process Marketing & Sales Service - Quality Services - High Customer - Quality Satisfaction Products - Mediterranean - Quality Experience Entertainment Value Creation AM/Breakfast Product -Coffee -Entertainment Target Segment -People who work downtown Need Feature Benefit -Coffee -Information -Atmosphere -Location -Tasty Coffee -Gourmet -Informed on Coffee current -World events/world Information news -Proximity Social/Outdoor (Quick access Area to many local -Location downtown business) Value Creation Day/Lunch Product -Lunch -Entertainment Target Segment -People who work downtown Need -Food -Out door atmosphere -Location Feature Benefit -Unique dinning experience -Hot Stone -Variety -Out door -Calming/ atmosphere rejuvenating -Social/outdoor -Proximity area (Quick access -Location to many local downtown business) Strategic Market Value Creation “Quality & Design” “Modern functionality and old world atmosphere” Quality: Excellent food quality in regards to purchase standards (i.e. meat quality) Superior customer service Design: Aesthetically pleasing Unique atmosphere Old world “look” Strategic Market Value Creation “Brand Image” The brand image provides competitive distinction and marketing advantage through: More inelastic consumer response to price increases Less vulnerability to competitive marketing actions Promotional Strategy: IMC Plan Target Audience: Downtown workers “Push” strategy used for initial promotion, “pull” strategy planned for growth Word-of-mouth communication Major Promotional Tools Used Advertising Sales Promotion Public Relations Katie Promotional Media Plan Phone Book Ad & Informational Website Sales Promotion to local downtown businesses Distribute Mediterranean delicacies along with description of atmosphere and entertainment options at the start of business and just before lunch Mediterranean Media Day Local city officials and media Perceived Value Total Benefits Total Price Atmosphere Food and beverage prices Convenience Entertainment Status Employee wages High Quality Upkeep High Service Financing Mortgage Pricing Value-Based Pricing - Accommodate to target market’s wants and needs. Add value with upscale, unique atmosphere. Determine price from perceived value. Inelastic Price Structure – High value creates the ability to adjust price without affecting the sales. Price Skimming – Use high prices to establish high quality. Financial Pricing – Food will be priced relative to perceived value and profit margin goals.