Food and Beverages project, Marketing

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Food and Beverage marketing

Feasibility study

Wednesday, January 16, 2013 BAC-4131 Food and Beverage Management Cost Control: Food and Beverage

MarketingSlide 1 / 16



Recap of the previous session

• How does nutrition facts labeling aid the food

service business.

• How do food service managers use the

nutrition pyramid.

• What steps would be appropriate to preserve

nutrition during purchase of raw material.

• What measures should be taken during

making a cholesterol and sodium limited diet.





Objective of the session

• Explain marketing in terms of delivering guestpleasing service.

• Describe steps involved in developing a

feasibility study and list three types of marketresearch.

• Describe elements of a marketing plan andexplain roles of sales, traditional and

electronic advertizing.• Describe marketing tactics that a non

commercial food service operation may use.





Scope

• Feasibility study.

• Identifying market area characteristics.

• Evaluating the proposed site.• In-depth analysis of the competition.

• Estimating demand.

• Projecting operating results





Marketing with a focus on guest

service• Seeing the business from the perspective of

a guest.

• Need for commitment by all employees.

• Plan strategies.• Implement the planning.

• Talk about it on a continuous basis.

• Emphasize on staff training on a continuous

basis.• Measure service to make results available to

employees.





Feasibility study

• A study that is conducted before a proposedfood service operation is constructed or on anexisting facility prior to its purchase or lease.

• Potential investors decide whether tofinance the project based upon the results of he feasibility study.

• The study guides the planners, architects of

the project and assist managers as theydevelop marketing plans and prepare initialoperating budgets.





Scope of a feasibility study

• Although the scope of a feasibility study

varies from project to project a few

features stay constant.

• Identifying market area characteristics.

• Evaluating the proposed site.

• Analyzing the competition.• Estimating demand.

• Projecting operating results.





Identifying market area

characteristics

• DemographicInformation.

• Age

• Gender • Level of education.

• Marital status.

• Number of children.

• Family income.

• Type of employment.

• Location of residence.

• Volume of sales in

other relatedbusinesses.

• Economic situation of the area.

• Property ratemovements.

• Communities





Evaluating the proposed site

• One of the mostimportant variables indetermining thesuccess of theventure.

• A up marketrestaurant with aninviting ambience andgood food quality willeventually fail

• Involves researchingon population.

• Surroundings and

metropolitan area.• Walking distance from

the community.

• Driving distance.

• Proximity from thehighway or businessdistrict





Evaluating the proposed site

• Distance from thenearest parking.

• Exits, Boulevards,

turnpikes.• Shopping malls.

• Distances fromtheatres and

amusement parks.

• Walking populationand drivingpopulation.

• Location analysis ingeneral.

• Generating acomparative with the

logistic differencecomparison with other restaurants.





Analyzing the competition

• An inventory of all food and beverage

facilities in the area.

• The data also includes commercial and

non commercial establishments in the

vicinity.





Analyzing the competition

• The data is then further

broken down to:

• Location and proximity.

• Type.• Source and volume of

business.

• Day and hours of

operation

• Menu Prices.

• Guest Check average.

• Type of service.

• Number of seats.

• Availability of alcoholic

beverages.

• Entertainment.

• Promotional efforts.

• Chain affiliation.





In-depth analysis of the competition

• How long has thecompetitor running hisoperation.

• Business volume at

various meal periods inthe week.

• What is the responsefrom the current guests.

• Type and volume of demand for F & Bservices

• The adequacy withwhich the competitionsatisfies the demand.

• SWOT analysis.

• Points of differencebetween the proposedfacility and thecompetition.





Estimating demand

• Extremely difficult and challenging.

• Analysis of the areas Food and beverage

sales.

• Establish dining trends.

• Conducting personal survey’s.

• Interviewing potential customers.• Sending in dummy customers at various

meal periods.





Projecting operating results

• Pro forma operating results which in this partof the world is known as Projected financialresults.

• Usually done for 3 years in case of partnership and 5 years in case of projectreports.

• Potential investors base their decision on this

information.• Investors are interested in the revenue first

and expenses after that.





Questions

Comments



Food and Beverages project, Marketing

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