Aroma multicultural restaurant marketing plan Essay Example
Marketing
In the food industry, my business focuses on marketing food and drinks. This field is highly competitive, especially when it comes to obtaining a franchise with a unique concept (Lichtenstein, et al. 2006).
As the American economy grows and creates more job opportunities, disposable income also rises. Eating is considered essential in daily life. With higher personal earnings, consumer confidence in the United States improves over a period of seven years. As a result, people allocate a significant portion of their income to buying meals that are not prepared at home.
In 2012, Schlosser stated that around 40% of the agricultural department's budget went towards households. There has been a notable increase in full-service restaurants in recent years, which is credited to higher consumer spending and economic growth since 2011. Moreover, it is anticipated that the restaurant sector will cont
...inue expanding over the next five years thanks to sustained economic growth and consumer expenditure.
The restaurant industry is set to benefit significantly from a rise in consumer spending. It is crucial for the industry to continuously monitor and adapt to meet consumer demands while offering healthy meals (Black, 2009). The industry faces minimal obstacles as operators can rent facilities and equipment, reducing the need for initial capital and borrowing. In 2016, a small number of major players dominated the market, holding approximately 3% of the market share (Powell, Chaloupka ; Bao, 2007). This suggests that the business environment primarily consists of small businesses and fragmentation within the industry.
No dominant player exists within the industry. However, it is possible to enter the sector by purchasing a nearby restaurant or an existing business, although there may be some costs associated
with this approach.
Competition
Aroma's direct competitors are fast domestic foods found in Mexican restaurants like Taco Bell and Qdoba.
Chipotle is faced with fierce competition from indirect competitors in the fast food industry. These casual restaurants, such as Bufallo, Panda restaurant group, and Panela bread, offer similar options to Chipotle. However, Chipotle's biggest rivals are Taco Bell, Panda restaurant, and Qdoba. In order to cater to the preferences of technology-savvy Americans, Aroma uses multicultural restaurant utilizes its website or mobile app for sales (Story ; French, 2004).
By utilizing its Twitter account, Aroma restaurant can connect with its customers and stay informed. Additionally, the restaurant boasts innovative technology that enables faster and more even food preparation and cooking. Aroma restaurant stands out as a fast yet casual dining option experiencing rapid expansion. Its commitment to delivering high-quality food ensures its continuous competitiveness in the market. However, the restaurant faces challenges from other businesses in the industry that offer comparable products and introduce competition.
Despite having a variety of suppliers with high food integrity, Aroma restaurant faces the drawback of maintaining enormous costs, which is seen by many as a disadvantage.
Market segmentation
The target market for Aroma restaurant foods consists primarily of college-aged individuals born between 1970 and 2000. The restaurant plans to have multiple branches to ensure easy accessibility, including some specifically catering to students (An ; Sturm, 2012).
The restaurant is expected to serve tourists, commercial events, and commuting workers, appealing to the current age group who value healthier and fresher options. They prioritize human consciousness by using family farm produce and antibiotic-free, hormone-free meat. The restaurant is projected to grow its total revenue by nearly
20 percent annually and can achieve significant profits with its strategic marketing approach.
By incorporating the surrounding culture, the restaurant can attract individuals who favor naturally sourced foods, and as a result, they incorporate organic ingredients when growing local produce (Kaplan ; Norton, 2001). Aroma satisfies the needs of American consumers by recognizing the significance of consuming nutritious foods. Nowadays, Americans are inclined to dine out rather than cook at home, making the restaurant's food highly marketable. Additionally, Aroma intends to collaborate with international rescue teams and promote awareness about transplantation.
The enterprise's main goal is to address the language barrier and empower its workers in the United States. With the high unemployment rate in America, there is a preference for affordable food choices. Consequently, Aroma Restaurant will provide nutritious meals that can be customized at prices ranging from eight to twelve dollars.
Marketing strategy
Customers
The restaurant highly values families as they are crucial for business. Moreover, couples, college students, and corporate officials frequently visit the establishment, making them the primary target demographic for Aroma Restaurant.
Programs and Services
The restaurant offers home delivery and house services. It also provides additional programs such as birthday parties, D-j parties, school parties, and Valentine’s Day events.
Packaging
Aroma restaurant utilizes an attractive logo on different sizes of parcels and bags. The logo and packaging colors help to promote the restaurant and its products.
Pricing
Aroma restaurant strives to offer high-quality food at affordable prices compared to other regional restaurants.
Promotion
The restaurant implements various strategies to enhance sales and maintain growth in the future.
The aroma restaurant utilizes various elements for growth such as sign boards, sponsors, school campaigns, gifts, and events (Adamic, et al. 2012).
Resource
The restaurant utilizes resources
like skilled professionals, brand image, taste, quality, and trust for marketing and brand building.
The role of social media
Advancements in technology and the rise of different social networks have facilitated the development of knowledge within online communities and social networking. Strategies are created to improve society through innovation via social media, prompting the need for a plan.
The advancements in online communities and social networks have created a platform for practitioners and scholars to share research on organizational, social, cultural, and related issues in these virtual communities. Social networking platforms such as Twitter and Facebook are popular advertising mediums due to their daily usage by millions of people (Neti, 2011). Instead of traditional advertising methods like TV, radio, or print media which incur costs, companies prefer utilizing platforms like YouTube, Facebook, Twitter, and Instagram. Companies can promote themselves through brief messages displayed on their followers' pages on Twitter. These messages may also include links to Facebook profiles, videos, or photos. Additionally, Twitter can be used for customer support purposes.
Companies promptly respond to queries and offer 24-hour support, resulting in customer appreciation and loyalty. In comparison, Facebook offers more comprehensive information than Twitter (Cochran, et al. 2016). The platform allows for longer descriptions, testimonials, photos, videos, and commenting on product pages.
Facebook allows for the sending of event reminders and also includes a link to the product's Twitter page. The use of social media platforms such as Twitter and Facebook is highly effective and cost-efficient for promoting companies. Taking advantage of technological advancements in advertising enables reaching new customers and facilitates easy referral through the internet.
Conclusion
The Aroma multicultural restaurant aims to become an international business that caters to diverse
groups by offering various meal options. With the increasing influx of immigrants into the United States, there is an expected growth in the American food market. Moreover, Americans have a tendency to dine out at hotels and restaurants.
The food and beverage industry offers a readily available market, justifying the entry of Aroma restaurant. To outshine established players like McDonald's, clever marketing strategies are necessary. Leveraging technological advancements including mobile apps and social media platforms for advertising can effectively promote our business.
The use of television as a medium is advantageous for promoting businesses. Social media platforms like Twitter, Facebook, and WhatsApp play a vital role in marketing by facilitating interaction and quick dissemination of information about new products. Personal selling, advertising, and public relations are also significant methods for business promotion. Aroma multicultural restaurant is ready to enter and compete in the food and drinks industry.
References:
- An, R., & Sturm, R. (2012). School and residential neighborhood food environment and diet among California youth. American journal of preventive medicine, 42(2), 129-135.
- Anderson, D. R., Sweeney, D. J., Williams, T. A., Camm, J. D., & Cochran
J. (2016). Statistics for business; economics. Nelson Education.
Bakshy, E., Rosenn, I., Marlow, C., & Adamic, L. (2012, April).
The role of social networks in information diffusion is discussed in the Proceedings of the 21st international conference on World Wide Web (pp. 519-528). ACM.
(2009). Business statistics: Contemporary decision making. John Wiley & Sons.
(2001). The strategy-focused organization: How balanced scorecard companies thrive in the new business environment. Harvard Business Press.
Lichtenstein, A.
The text below is a citation containing multiple authors' names and the year 2006. It is written in HTML format.
H.,
Appel, L. J., Brands, M., Carnethon, M., Daniels, S., Franch, H. A., ... ; Karanja, N. (2006).
The text includes references to two publications: "Diet and lifestyle recommendations revision 2006 A scientific statement from the American Heart Association nutrition committee" published in Circulation, volume 114, issue number 1, pages 82-96; and "Social media and its role in marketing" by S. Neti published in the International Journal of Enterprise Computing and Business Systems, volume 1, issue number 2, pages 1-15. Additionally, it mentions Powell L.M., Chaloupka F.J., and Bao Y.
(2007). The study "The availability of fast-food and full-service restaurants in the United States: associations with neighborhood characteristics" was published in the American journal of preventive medicine, volume 33, issue 4, pages S240-S245.
Another relevant publication is "Fast food nation: The dark side of the all-American meal" by Schlosser (2012), published by Houghton Mifflin Harcourt.
Additionally, Story and French have also made significant contributions to this topic.
(2004). The article titled "Food advertising and marketing directed at children and adolescents in the US" was published in the International Journal of Behavioral Nutrition and Physical Activity, volume 1, issue 1, on page 1.
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