Jade Safe Restaurant Analysis - Assignment Example

Individual Project Changes in the market day by day has made it very difficult to do business without being tactical. Some of the tactics that businessmen need to arm themselves with include making strategies that will make their businesses flourish in the market. A marketing plan is a roadmap that shows exactly how the business will achieve it customers in the market and maintain the tactics for it to achieve competitive advantage. Jade Restaurant is one such business that applies marketing and segmentation strategies to achieve their competitive advantage. Jade Safe Restaurant Introduction In many occasions, American fast food industry has been criticized to be a major cause of several food related diseases like obesity. This is because of the manner in which some of these foods are prepared, and the kind of ingredients used to prepare them. Jade Safe restaurant has since found a gap in the market where people now need to turn to healthy selected and prepared foodstuff. Jade will, therefore, major in preparation of those kinds of foodstuffs that promote healthy living and has little to do with food related diseases. Part I: Customers need It is the desire for every American citizen to find some fast food in the restaurants, but more so, for the food to be healthy. Obesity has made most Americans succumb to several other diseases such as hypertension, cardiac arrest, and high blood pressure among others. Therefore, most Americans are now taking heed of junk and unhealthy food. They are trying to go the safe way where lean food are replacing the fatty-sweet fast food normally found in the restaurants. However, it is not easy to find such lean meals in the restaurants. Then came the idea that was seized by Jade entrepreneurs to start-up this restaurant that will bridge this gap, by providing safe and healthy meals to Americans. Segmentation Strategies It is true that Jade will get into this business when already there are various restaurants preparing meals and are well known in the market. However, through the two main segmentation strategies of involving the customers demographic and behavioral characteristics, Jade will stay on top of the competition in the industry (Bournemouth 2013). Under the demographic characteristics, the customers will be classified in terms of age where we will have children, the youth, and the adults. In this manner, there will be specific preparation of food in focus of what is good for each particular segment or group. Under customer behavior, we will have them grouped under holiday meals, quick takeaways and self-service. Under the holiday category, there will be special treatment for families that will book meals during vacations, weekends and short holidays. There is also the category of customers who will need quick meals at lunch time or in the morning; they do not have time to relax and take their food. Therefore, they will have their takeaways that they can take with them to their offices and eat them at their pace. The last category will be those customers will all the time to come to the restaurant and relax, serve themselves and take their meals without any hurry or worry. With this segmentation of customers, Jade will be able to provide different services and meals to different groups of customers, hence, will be able to compete fairly with the other restaurants in the market. Niche Marketing Strategy With the growing advancement in technology, we find that many workers nowadays take most of their time with their eyes glued at their computers. They sometimes lack even time to go for lunch. When they return at home after work, they get very hungry since they missed lunch, and embark on eating too much junk food which maybe can be prepared easily. This only increases obesity. For this reason, Jade will be established in the city center where there are so many workers who do not want much movement, and also need safe and healthy food for their lunches. The management will take orders from various customers on a daily basis and supply them with meals every day. This will create a permanent market niche to the business (Derryn 2013). The business will also target areas around colleges with high populations of students. Students tend to be busy and require some fast and already prepared food during the breaks. When they also learn the idea that the food provided at Jade restaurant is a safe and healthy food, many will flock the restaurant while they abandon their previous meal providers. This is a factor that will make Jade climb to the top of the competition edge. Here, a variety of meals will be prepared and served at student-friendly prices. The segmentation will, therefore, help in determining the prices to charge at this marketing niche as well as the type of meals to prepare, of course, those that are most preferred by the students. Part II: Gap Analysis, Benchmarking, and Competitive Advantage Gap Analysis In the city centers marketing niche, Jade is surrounded by other restaurants that also provide services on fast food. However, Jasmine Restaurant, which is a major competitor, first prepares meals that are fatty and unhealthy. These increase obesity cases and also the possibility of contracting other diseases such as heart attack, kidney failure and high blood pressure. The restaurant is currently making good sales and has a huge customer base (Friesner 2014). However, when Jade enters the market, Jasmine Restaurant will have less and fewer clients since many clients are now going the safe and healthy way. Jasmine does not also make sure that customers orders are delivered in their offices. However, Jade will provide free delivery services to all its customers to wherever they will need the service at. This also is a factor that will draw many of Jasmines clients to Jade Restaurant since theyll not have to walk to the restaurant, when they dont want to, to access the meals. The customers will only have to use their phones when ordering the meals, and it will be delivered on time at the requested destination. On the other market niche near the college, the main competitor is ‘College Meals Restaurant. This restaurant provides meals to the students but has taken advantage of its domination of the campus, to provide low-quality services to the students. Their meals are, most of the time, not well prepared. The preparation condition is not always clean. They are also sluggish in service provision, apart from the fact that they dont prepare safe and healthy meals to the students. Jade will take advantage of such weaknesses and major on them to provide safe and healthy meals that will be prepared under very clean conditions. They will also make sure that high-quality services are provided, and the service is very quickly delivered. Competitor Benchmarking Jade will have to get into the market with unique ways of operation to be able to beat its competitors in the industry. The restaurant will, therefore, come up with a system that is not used by its main competitors, to increase its sales and fetch more customers to the restaurant. An electronic card will be designed that will make the customers gain membership to the restaurant (Laura 2014). Every time a customer makes purchases, they earn points that are accumulated for them through their car account. When the points reach a certain amount, the customers will be allowed to redeem them for free meals. Therefore, a customer might be without money at some point, but with the points in the card, they can get free meals for a given equivalent amount of points. This is a system that will ensure that the already gained customers are not lost to the competitors by any means. The customers will, therefore, be attached the restaurant through their point that they would want to accumulate day-by-day. Many customers will also find this system very gainful. Hence, they will buy the idea and register themselves for the membership card. Strategies to Achieve a Competitive Advantage In this fast growing world, there are several strategies that a business need to employ to achieve a competitive advantage. For Jade to achieve this, the management will have to take keen note of several strategies. This might include promotion, uniqueness, environmental scanning and adjustment to the changes in the environment (MindTools 2013). Jade will carry out a thorough advertisement through various media to increase its publicity. With adequate advertisements, the restaurant will be able to be much ahead of its competitors since many audiences will be able to receive news about its existence. Secondly, the restaurant will have to carry out a sales promotion periodically to increase both its customer base and sales of the business. Such sales promotions will include the use of coupons and free samples. When a customer places two orders in a day, they will win one order free of their choice. Jade will also str8ive to run a unique business from the rest. First, they must prepare safe and healthy meals. They will also use membership cards to increase customer base. The restaurant management will also have to be responsive to customers by providing first-grade services and at high quality possible. Environmental scanning will help the restaurant to know the trending and upcoming trends in the market and the industry at large. Jade will then be able to know the strengths and weaknesses of its competitors. This will help Jade to know which strategies to pull up or down to be able to counteract the strengths of its competitors. Jade will also know the technologies used in the industry and adapt to their changes as they come in order to stay on top of the competition in the business. Conclusion In a nutshell, Jade is one of those businesses that thrive well in the current market. As a good business is in the idea, Jade finds its business in providing meals that fill the gap in the fast food market today. It uses customer segmentation strategies to provide its customer segments with products that fit the segment at a preferred price. The business also uses several strategies to ensure it achieves a competitive advantage in the market. References Bournemouth. 2013. "Marketing: Market Segmentation." Foundation Degree Southwest 1-6. Derryn, Coetzee. 2013. "Why you should have a niche marketing strategy." Motion Web abd Marketing Specialists 2-4. Friesner, Tim. 2014. "Gap Analysis." Marketing Teacher 2. Laura, Patterson. 2014. "Benchmarking to Improve Marketing Performance." The CEO Refresher 3. MindTools. 2013. "Porters Generic Strategies: Choosing your Root to Success." Mind Tools, Essential skills for an excellent career 2. Read More