Marketing Strategy implement by Max’s Restaurant to attract customers Essay
Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
According to Dr. Philip Kotler, marketing defines as “the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines measures and quantifies the size of the identified market and the profit potential. It pinpoints which segments the company is capable of serving best and it designs and promotes the appropriate products and services.”
Marketing strategy a process that can allow an organization to concentrate its resources on the optimal opportunities with the goals of increasing sales and achieving a sustainable competitive advantage. Many restaurants are small businesses, and franchise restaurants are common. There is often a relatively large immigrant representation, reflecting both the relatively low start-up costs of the industry (thus making restaurant ownership an option for immigrants with relatively few resources) and the cultural importance of food. In Canada there are 86,915 commercial foodservice units in Canada, or 26.4 units per 10,000 Canadians. By segment, there are: 38,797 full-service restaurants, 34,629 limited-service restaurants, 741 contract and social caterers, 6,749 drinking places. Fully 63% of restaurants in Canada are independent brands. Chain restaurants account for the remaining 37%, and many of these are locally owned and operated franchises. In European Union, the EU-27 has an estimated 1.6m businesses involved in ‘accommodation & food services’, more than 75% of which are small and medium enterprises while in the United States, Workers in the kitchen at Delmonico’s Restaurant, New York City, 1902. As of 2006, there are approximately 215,000 full-service restaurants in the United States, accounting for $298 billion, and approximately 250,000 limited-service (fast food) restaurants, accounting for $260 billion. One study of new restaurants in Cleveland, Ohio found that 1 in 4 changed ownership or went out of business after one year, and 6 out of 10 did so after three years. (Not all changes in ownership are indicative of financial failure.) The three-year failure rate for franchises was nearly the same.
This research gives information how to improve and how to use these strategies to meet the goals of a certain business and how you improve your business strategies. This exciting mix of profitability and initiating an influx of employment opportunities for the community has encouraged many entrepreneurs to establish franchises not just in Metro Manila but also in the different cities in the Philippines and in countries across the globe like Olongapo City.
Statement of the Problem
The main problem of the study is to discover the effectivity of the marketing strategy of the Max’s Restaurant to attract customers. It aims to determine the strategies implemented by Max’s to improve their sales in Olongapo City. Specially, it attempts to answer the ff. questions;
1. What is the profile of the respondents as to;
1.3 educational background
1.4 family income
2. How may the effect of marketing strategies be describe as perceived by the respondents in terms of;
2.2 Holiday Promotion
2.3 Incentives and Other Packages
2.4 Employees Performances
3. What is the implication of the findings on the effectivity of marketing
strategies of the Max’s Restaurant?
Educational Background: ___________________
____ 40 up
2. Advertisement Always Sometimes Never
I used to go because of their good advertisement
I am motivated by their celebrity endorser
I used to go because of the new product they advertise
3. Holiday Promotion Always Sometimes Never
I used to go to Max’s Restaurant Christmas season
I used to go in Max’s Restaurant because of the Christmas promo I used to go to Max’s Restaurant every holiday
I used to go in Max’s Restaurant every pay day
4. Incentives and other packages Always Sometimes Never
I used to go to Max’s Restaurant because of Introductory Offer I used to go to Max’s Restaurant because of Free Samples
I used to go to Max’s Restaurant because of Gift Cards
I used to go to Max’s Restaurant because of Reward Cards
5. Employees performance Always Sometimes Never
I used to go Max’s Restaurant because of the good service Significance of the Study
This research study will benefit the restaurant management, employees, customers and even the local town of Olongapo City. To the restaurant management, this study will help them to improve their marketing strategies for them to attract more customers and to maintain their regular or repeated customers. To the employees, this study will educate the employees to be aware about the marketing strategies planned by the restaurant. This study will assess them how to react on a certain situation. Employees will be more aware attracting customers towards their operation. To the customers, this study will help the customers in order for them to express their opinion, suggestions and other comments towards the marketing strategy of the aristocrat restaurant. To the local government of Olongapo city, this study will help the local government to be involved in the marketing strategies of the restaurant and for them to generate more taxes from such establishments. To the future researcher, this study will serve as reference for future researchers to their future study so that it will be easy for them to conduct a research study like this.
Scope and Delimitation
This research was conducted to discover the effectivity of marketing strategy to attract customers in Olongapo City. This aims to answer the profile of the respondents. The study covers only 20 employees and 100 customers of the Max’s Restaurant.