(http://www.pdco.com/node/88591) <--- Where I got my information at (mixed with my own ideas)
When it comes to promoting my business I am so glad to be a part of the
technology generation. The last few years, Facebook has become the ultimate way
to connect with others around us. So by making a profile for "The Vault" I will
begin there by advertising and building up my restauraunt clientele.
And every somebody would be a nobody without the famous Twitter! I will be
tweeting my business's opening date and sneak peaks to our foods and
beverages (along with specials during the holidays). And for those who are using
Twitter to follow me I will also be promoting our Instagram Winner of the Week,
this is how it works: "For every person who comes out to eat at The Vault and
takes a photo of their experience (that is the most exciting and unique), I will
be printing a 8x8 of that person's photo and it will be by the main entrance for
that week (along with their name and where they're originally from)." To bring even more customers in without using Social Media, I plan on fundraising and spreading the word in my community as well. Consumer studies have shown that consumers will support restaurants that support the local community. It's all about the people and what they want most.
Wednesday, March 13, 2013
Saturday, March 9, 2013
Implementation Evaluation Control
"Planning good strategies is only a start toward successful marketing. A brilliant marketing strategy counts for little if the company fails to implement it properly. Marketing Implementation is the process that turns marketing plans into marketing actions in order to accomplish strategic marketing objectives. Whereas marketing planning addresses the what and why of marketing activities, implementation addresses the who, where, when, and how." (Pg. 57)
To make or build something great, there is always a significant amount of planning before hand. I've had this idea for a restaurant for a little over a year and after writing about it throughout 10 blog posts, it really starts to set in, "Could this be a reality?" I've always thought of myself as an artist, not really a business woman, but as a child I enjoyed anything (mostly cooking) because of the people I surrounded myself with, so when it came down to choosing a restaurant or a bar, I already knew which direction I was taking. The Vault came to mind because being in Downtown Las Vegas, I was used to seeing these art museums and bistros that were connected to galleries, but never a restaurant and gallery made into one (healthy and green!) so that's where the idea came from. I think if this assignment was an actual start to my business, I know that I'd succeed. Because I chose a location where there is a lot of customers, I know my prices and how I'd promote myself. I have the design and layout for how I'd want things to look, I'd just have to find the right people to fill the spots for employees. I'd want to hire and share my experience with the kind of people that love what they do, whether they're musicians or artists. And I'd want their work to be shown as well, because The Vault is a place where everyone can be together, as a whole. Ideas, passions, inspirations, photographs, art. Everything.
"Many managers think that "doing things right" (implementation) is as important as, or even more important than, "doing the right things" (strategy). The fact is that both are critical to success, and companies can gain competitive advantages through effective implementation." (Pg. 57)
To make or build something great, there is always a significant amount of planning before hand. I've had this idea for a restaurant for a little over a year and after writing about it throughout 10 blog posts, it really starts to set in, "Could this be a reality?" I've always thought of myself as an artist, not really a business woman, but as a child I enjoyed anything (mostly cooking) because of the people I surrounded myself with, so when it came down to choosing a restaurant or a bar, I already knew which direction I was taking. The Vault came to mind because being in Downtown Las Vegas, I was used to seeing these art museums and bistros that were connected to galleries, but never a restaurant and gallery made into one (healthy and green!) so that's where the idea came from. I think if this assignment was an actual start to my business, I know that I'd succeed. Because I chose a location where there is a lot of customers, I know my prices and how I'd promote myself. I have the design and layout for how I'd want things to look, I'd just have to find the right people to fill the spots for employees. I'd want to hire and share my experience with the kind of people that love what they do, whether they're musicians or artists. And I'd want their work to be shown as well, because The Vault is a place where everyone can be together, as a whole. Ideas, passions, inspirations, photographs, art. Everything.
"Many managers think that "doing things right" (implementation) is as important as, or even more important than, "doing the right things" (strategy). The fact is that both are critical to success, and companies can gain competitive advantages through effective implementation." (Pg. 57)
Price
"A company can always increase customer satisfaction by lowering its price or increasing its services. But this may result in lower profits. Thus, the purpose of marketing is to generate customer value profitably. This requires a very delicate balance: The marketer must continue to generate more customer value and satisfaction but not "give away the house."" (Pg. 17)
As far as the price goes for my restaurant, I'm not wanting to burn a hole through everyone's wallet, but I don't want my prices to be so low that it gives off the vibe that my food and photography isn't worth more.
I got most of my inspiration from a health food restaurant I go to all the time called "Greens & Proteins" so I want to base most of my prices around theirs.
For soups, appetisers or main entree salads - ($7-8.50)
Main dishes(pasta, sandwiches, or sides) (fish, chicken, steak, vegetarian) - ($10-16.50)
Fresh juices, soft drinks, coffee, desserts (gluten-free) - ($2.50-6)
For my photography, the prices for all the different sizes are in my "Product" blog.
"The company can offer greater customer value either by charging lower prices than competitors, or by offering more benefits to justiy higher prices."
"But if the company promises greater value, it must then deliver that greater value."
As far as the price goes for my restaurant, I'm not wanting to burn a hole through everyone's wallet, but I don't want my prices to be so low that it gives off the vibe that my food and photography isn't worth more.
I got most of my inspiration from a health food restaurant I go to all the time called "Greens & Proteins" so I want to base most of my prices around theirs.
For soups, appetisers or main entree salads - ($7-8.50)
Main dishes(pasta, sandwiches, or sides) (fish, chicken, steak, vegetarian) - ($10-16.50)
Fresh juices, soft drinks, coffee, desserts (gluten-free) - ($2.50-6)
For my photography, the prices for all the different sizes are in my "Product" blog.
"The company can offer greater customer value either by charging lower prices than competitors, or by offering more benefits to justiy higher prices."
"But if the company promises greater value, it must then deliver that greater value."
Promotion
"Finally, it must communicate with target customers about the offering and persuade them of its merits (promotion)." (Pg. 13)
When it comes to promoting my business I am so glad to be a part of the technology generation. The last few years, Facebook has become the ultimate way to connect with others around us. So by making a profile for "The Vault" I will begin there by advertising and building up my restauraunt clientele. And every somebody would be a nobody without the famous Twitter! I will be tweeting my business's opening night date and sneak peaks to our foods and beverages (along with specials during the holidays). And for those who are using Twitter to follow me I will also be promoting our Instagram Winner of the Week, this is how it works: "For every person who comes out to eat at The Vault and takes a photo of their experience (that is the most exciting and unique), I will be printing a 8x8 of that person's photo and it will be by the main entrance for that week (along with their name and where they're originally from)." Social Media has grown to the extreme the last couple of years, so I know that I'm taking the right route of promoting my business.
"Evaluation is also very important. Many companies fail to evaluate their sales promotion programs, and others evaluate only superficially. Yet marketers should work to measure the returns on their sales promotion investments, just as they should seek to assess the returns on other marketing activities." (Pg. 438)
Creative Content:
The Vault (design & layout)
When it comes to promoting my business I am so glad to be a part of the technology generation. The last few years, Facebook has become the ultimate way to connect with others around us. So by making a profile for "The Vault" I will begin there by advertising and building up my restauraunt clientele. And every somebody would be a nobody without the famous Twitter! I will be tweeting my business's opening night date and sneak peaks to our foods and beverages (along with specials during the holidays). And for those who are using Twitter to follow me I will also be promoting our Instagram Winner of the Week, this is how it works: "For every person who comes out to eat at The Vault and takes a photo of their experience (that is the most exciting and unique), I will be printing a 8x8 of that person's photo and it will be by the main entrance for that week (along with their name and where they're originally from)." Social Media has grown to the extreme the last couple of years, so I know that I'm taking the right route of promoting my business.
"Evaluation is also very important. Many companies fail to evaluate their sales promotion programs, and others evaluate only superficially. Yet marketers should work to measure the returns on their sales promotion investments, just as they should seek to assess the returns on other marketing activities." (Pg. 438)
Creative Content:
The Vault (design & layout)
Distribution
"Companies often pay too little attention to their distribution channels, sometimes with damaging results. In contrast, many companies have used imaginative distribution systems to gain a competitive advantage." (Pg. 312)
Distributing to the public, I want my restaurant to be a direct distributor. Like, HP or Ford I want all my products to be my own. I want to be able to change my advertising, prices, and promotions to what I want them to be because I'm not getting help from another channel or retailer. The advantage of direct distributing is that it gives me (the manufacturer) complete control over my own product.
So whether I'm needing to spice up some old recipes or change the menu overall, I'll be able to do so in my own restaurant. Efficient and effective distribution is important if the organization is to meet its overall marketing objectives. If an organization underestimates demand and customers cannot purchase and be satisfied with the products being given to them, profitability will be affected.
"Distribution channel decisions often involve long-term commitments to other firms. For example, companies such as Ford, HP, or McDonald's can easily change their advertising, pricing, or promotion programs. They can scrap old products and introduce new ones as market tastes demand. But when they set up distribution channels through contracts with franchisees, independent dealers, or large retailers, they cannot readily replace these channels with company-owned stores or Web sites if conditions change." (Pg. 312)
Distributing to the public, I want my restaurant to be a direct distributor. Like, HP or Ford I want all my products to be my own. I want to be able to change my advertising, prices, and promotions to what I want them to be because I'm not getting help from another channel or retailer. The advantage of direct distributing is that it gives me (the manufacturer) complete control over my own product.
So whether I'm needing to spice up some old recipes or change the menu overall, I'll be able to do so in my own restaurant. Efficient and effective distribution is important if the organization is to meet its overall marketing objectives. If an organization underestimates demand and customers cannot purchase and be satisfied with the products being given to them, profitability will be affected.
"Distribution channel decisions often involve long-term commitments to other firms. For example, companies such as Ford, HP, or McDonald's can easily change their advertising, pricing, or promotion programs. They can scrap old products and introduce new ones as market tastes demand. But when they set up distribution channels through contracts with franchisees, independent dealers, or large retailers, they cannot readily replace these channels with company-owned stores or Web sites if conditions change." (Pg. 312)
Product
"As a marketer, you'll need a good marketing plan to provide direction and focus for your brand, product, or company. With a detailed plan, any business will be better prepared to launch a new product or build sales for existing products." (Pg. MP1)
(Found on Google.com)
"Another form of contractual retail organization is a franchise. The main difference between franchise organizations and other contractual systems (voluntary chains and retail cooperatives) is that franchise systems are normally based on some unique product or service; on a method of doing business; or on the trade name, goodwill, or patent that the franchisor has developed. Franchising has been prominent in fast food and restaurants, motels, health and fitness centers, auto sales and service, and real estate."
(Pg. 352)
Alexellen Gallery featured at The Vault: (8x10 ranges from $20-55) (11x14 ranges from $55-65) (Any larger $100-115)
Soundtrack @ The Vault: Indie/Acoustic
- Two Door Cinema Club
- Manchester Orchestra
- Anthony Green
- Grouplove
- FUN
Target Market Strategy
"Target Market is a set of buyers sharing common needs or characteristics that the company decides to serve." (Pg. 187)
For The Vault I was envisioning more of a younger crowd of customers, but adults and hard working parents are welcome as well. The last two years I have been noticing that a huge health streak is rising and more people are choosing to be vegetarian and vegan than living a life eating meat. I have also noticed that art schools are becoming full of more inspired students, I guess that's the main reason I decided to mix the two together instead of having them separate. I feel strongly that I'm going to bring in more customers this way and it will be the best technique for keeping all of my guests happy.
For The Vault I was envisioning more of a younger crowd of customers, but adults and hard working parents are welcome as well. The last two years I have been noticing that a huge health streak is rising and more people are choosing to be vegetarian and vegan than living a life eating meat. I have also noticed that art schools are becoming full of more inspired students, I guess that's the main reason I decided to mix the two together instead of having them separate. I feel strongly that I'm going to bring in more customers this way and it will be the best technique for keeping all of my guests happy.
"The company must first decide who it will serve. It does this by dividing the market into segments of customers and selecting which segments it will go after. Some people think of marketing management as finding as many customers as possibly and increasing demand. But marketing managers know that they cannot serve all customers in every way." (Pg. 9)
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