Marketing+Strategy

=Marketing Strategy =

toc

= **Step 1**: Know Yourself =

//What is your Company’s Mission Statement?//
 * to provide customers with a lively atmosphere, delicious food and drinks, and wonderful customer service.

//Background//
 * What are the current problems?
 * negative reviews on the internet (about the customer service and the food and drink
 * recurrent clients
 * declining customer base


 * Current nature of the organization?
 * Restaurant that's been around for 15 years
 * Sports bar
 * Dj and dancing on Friday and Saturday nights
 * half price appetizers and over twenty beers on tap
 * Free pool games

//Who is the Target Market?//
 * men and women ages 25 - 45
 * locals from Etobicoke and people from around the GTA
 * specifically workers
 * tourists/travelers/businessmen from the airport
 * working and middle class

//What are their needs?//
 * Food
 * Beer, wine and liquor
 * Entertainment

//How can the organization fulfill the needs of the Target Market?//
 * bring in a new costumer base that will spread positive news about the bar
 * discounts and promotions to attract more customers
 * a great location close to the airport for tourists and travellers

//Marketing Mix//
//The 4 P’s//

Products & Service
 * discounts with coupons for special events; for example, during the Stanley Cup Play Offs, there will be a cheap pitcher and wing combo.
 * to provide costumers with updates on upcoming events and discounts through social media (facebook, twitter)

Price
 * payment for advertisement space will be paid off by more clients

Placement or Distribution
 * Online websites (facebook, twitter, Arizona Bar website)
 * billboards around airport

Promotion
 * Social media
 * emailing lists for updates on upcomming promotions, events, and menu changes (as well as recommendations)

//The New P`s//
Personalization
 * more variety of events to attract new costumers(and bring back old costumers)
 * broad menu to satisfy more tastes than before (also to attract new costumers and keep old costumers)

Participation
 * costumers will have a chance to share their experiences and opinions on the facebook site and via twitter
 * a survey to be completed by costumers after their visit so that Arizona can receive input on what is working and what could change for the better

Peer-to-peer communities
 * Facebook and twitter (to help build a community and following for the bar)

Predictive modelling
 * Google analytics
 * feedback from surveys

Awareness of Uncontrollable Factors
 * competing restaurants
 * negative reviews already on the internet
 * word of mouth (possibility that people will lie or shed negative light on the establishment)
 * the opinions and moods of costumers (some people don't like busy open restaurants, it's hard to please everyone)

Step 2: Strategic Analysis Identify weaknesses and opportunities:
Weakneses:
 * the building is old thus faces problems such as smells and infestations
 * the internerior is not modernized (in need of makeover)
 * employees lack enthusiasm
 * plenty of competion from new restaurants and bars

Opportunities:
 * the building is spacious
 * bar is in a good location (close to the airport, near downtown Toronto, and surrounded by hotels for costumers and travellers to stay at and visit the bar from)
 * has a large devoted costumer base
 * the bar has been around for years and is established and well-known
 * has fun activities such as DJ, Dancing on the dance floor, and Billiard
 * Has special events on weekends and holidays
 * the bar doubles as a restaurant and sports bar (it is multi-functional)
 * delicious food (vast manu with many choices for meal and drink)
 * management is good to their staff

Competition:
 * other resturants around the airport (the Keg, Hooters, Graffiti, Canyon creek)
 * nightlife in nearby downtown toronto

**Step 3: Set Marketing Objectives **  The mission is to attract new (and old) costumers to the restaurant, and the re-vamp the restaurant's reputation.

Specific Measureable Achievable Realistic Time-Based  -we will purchase ads on websites that will target our key demographic (we will advertise on airport sites such as Park and Fly

-we will bring people to our website and Face book account by hosting contests where people could win a free meal. (These contests will help people recognise the company and will encourage them to visit, with people, if they win)  -we will monitor our advertising progress using periodical check-ups  -Google analytics will be used to know who is coming to the website and from where (this will let us know if our ads on other websites are bringing people to the website and bar) -costumer survey will allow Arizona to see how the costumers are enjoying the progress  -we will be conscious about our ROI, and monitor our goal to achieve sales revenue of $259,200 per year for the first three years of the business (long term) and we will make sure to check every two weeks that we are not losing money (short term)

Step 4: Generate Strategies & Tactics for Achieving Objectives
How will you achieve your objectives? by online ads of different areas and sizes on the internet. By making a banner, skyscaper, sq button ad, facebook ad, twitter hashtag, social media Which strategies will you employ to be successful? Social media Example: twitter and facebook followers and fans, geographic ad Objective: To increase customer retention by 2% by 2012 Tactic: by making more people aware of the location and resturant

Step 5: Evaluate Strategies
Humphrey’s SWOT Analysis Key Indicators Monitoring & Reporting¡ Strengths & Weaknesses Opportunities & Threats

=Final Paper=