Marketing plan Research Paper Example | Topics and Well Written Essays - 1750 words

Marketing plan - Research Paper Example As can be seen, restaurant is a place which provides services that satisfy people’s hunger and thirst. By starting such a business, I would be able to deliver good quality food products to my customers. My crew and I planned to locate our restaurant in New Jersey, United States of America. New Jersey has a lot of scope for starting hotel business, because there are many people working in New Jersey in different industries like printing and publishing, pharmaceutical industry, financial industry, telecommunication sector etc. Men and women work alike and even students are involved in the work as part time jobbers. Majority of people eat outside their homes, like in restaurants and hotels due to their work and as they do not have time to cook and eat. We could find a number of colleges, industries, companies etc in New Jersey. So we take this as an opportunity for us to start a new restaurant in Jersey City, Hudson County. The reason for choosing this place is its abundant popul ation and the fact that this place has a good infrastructure as well as is diverse in ethnics. Asians, African-Americans, Italians, Latinos etc are the different ethnic groups in Jersey City.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Name of the restaurant would be â€Å"Tasty World,† that indicates tasty foods from different parts of the world. We would be providing Chinese, South Indian, North Indian, Italian, Spanish dishes, because these cuisines are popular and very tasty. That would be our USP for the company. We are sure that we can make good profit out of it, though it is very a risky step for an initial business group like us. Our vision is to spread our business network to more places and to satisfy our customers’  needs and requirements by making this restaurant among the most reputed organizations. Our mission is to provide great service and good quality, variety of food to our customers. At the initial stage of commencing, I myself would be the Managing Director and in fu ture, if needed, partners would be included. Our company has personal values that are to be considered in order to get maximum satisfaction from all the customers and to provide good quality food at reasonable prices. II. A. The external environment is a little bit complicated because there are many other restaurants operating in this place. So it would not be so easy for us to run this organization in profit at the initial stage. But we have strategies to counter attack that situation. At present, the global economies are in a crisis and are facing more challenges, but for us it would be the perfect time to start our business in Jersey City. As I mentioned earlier, there are many students as well as employed people in this place, so the marketing demography for our business would particularly be college students, youth and working people. ‘Tasty World’ has entered a matured market, which is highly competitive. There are many other restaurants in the city of Jersey but Tasty World offers 100 types of Spanish, Indian, Italian and Chinese cuisines. Majority of the people living in that place go to restaurants at least once a week and more than 10000 individuals pass that way (where restaurant is proposed). Our workforce would consist of highly experienced people who possess great skills in preparing delicious food. We also plan to serve the dishes at the tables in the fastest time possible. STP of our company would be: Market Segmentation- Potential customers can be segmented into students, working professionals