Elements of a Restaurant Marketing Plan

luxury hotel restaurantMarketing plans are a powerful way to get ahead of the competition in a particular niche of the market and gain more customers. In addition, it is a powerful way of promoting one’s brand and getting one’s business to grow in terms of reputation. The restaurant industry is one such example of competitive industry where one needs a solid and working plan in order to stay ahead of the game in every aspect of the business. One can always make a really powerful restaurant marketing plan or make an existing one even better using the elements explained in the next sections.

Four Elements to Turbocharge Any Restaurant Marketing Plan

1. Analyzing the current situation

This section of the marketing plan will have statistics on the sales, costs and profits for one’s company over the past few years. It shows where one has come from and where they currently are. The numbers are also very useful when it comes to making accurate predictions of the future of the business in aspects such as expected costs, profits, number of customers and so on. The analysis of the current situation may also include a look at the competition and how big they are, the quality of the services they provide, how much they are growing, their marketing strategy and most important of all, the target market. The main objective of this move is to see where one is located in the restaurant industry eco-system with respect to the other market players.

The analysis of the current situation may also incorporate a look at the strengths, weaknesses, opportunities, and threats. This will list the mentioned factors and how they apply to one’s company. The analysis could also look at one’s company’s reputation, staff effectiveness and productivity, quality of services, flexibility and responsiveness to clients needs.marketingflowchart

2. Goals and objectives for the marketing

These are the aims that are meant to be achieved within a specific period of time covered by one’s restaurant marketing plan. Objectives may not be specific while on the other hand, goals have a deadline in their context hence the difference.

3. Marketing strategy

This is the meat of the plan. It involves a whole array of subsections such as price positioning which sets one’s business apart from others in terms of the price of products and services, core positioning, target markets, communication strategy and total value proposition. The target market is the distinct group of customers for whom one will apply a single approach to marketing which was identified in #1. For instance, the young demographic population will respond to a different marketing strategy as compared to the older people. Having this information at hand is also very important as it helps one to prioritize the marketing strategy to use. The data should also come in handy when predicting the future of one’s market as the years go by and thus help in shifting priorities in terms of marketing strategy used. Information about one’s target market is also important as it helps one figure out how to reach the individual sections of the demographic.

On the other hand, the core positioning is the main benefit that is offered by one’s service or product. This is related very closely to the price positioning as it can be used to present the value of one’s company goods and services in relation to cost. The communication strategy is a plan for how much one is willing to spend on logistics such as public relations, direct marketing, advertising and sales promotion.

4. Marketing controls and a marketing plan

This is the point where one makes a plan and writes down exactly what they wish to do in terms of marketing. One should also decide on when they will undertake what, when they should be where and what to do in case they are not reaching their targeted goals.

Start Working the Plan

In conclusion, the bottom line for the restaurant marketing plan is to establish the current position as compared to the competition and come up with milestones that must be accomplished in order to improve the brand and reputation of one’s restaurant business. It is also very important when one wants to enter an existing market and this calls for a well thought out marketing plan which will ensure that the business gets to be known by the potential customers and cast in positive light. They are therefore a key element to the success of a business.

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