This document provides answers to questions related to restaurant management. It discusses the benefits of internet advertising and the use of traditional marketing methods. It also explores two approaches to menu planning: fixed menu and completing pre-prepared meals.
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Running head: RESTAURANT MANAGEMENT RESTAURANT MANAGEMENT Name of the Student Name of the University Author Note
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1RESTAURANT MANAGEMENT Table of Contents Answer to Question 5......................................................................................................................2 Answer to Question 6......................................................................................................................4 Approach one: Fixed Menu.........................................................................................................4 Approach two: Completing Pre-prepared meals..........................................................................5 References........................................................................................................................................6 Additional Readings........................................................................................................................6
2RESTAURANT MANAGEMENT Answer to Question 5 Although the concern of Robert`s father can be understood, it needs to be understood that, the internet advertising is one of the most popular and modern methods of advertising for a certain business and with respect to ensuring success in the long run, a firm would be required to checkthat,theyaresuccessfullyabletoengageintherightmediumofadvertising (Entrepreneur.com 2019). Hence, with respect to this, Robert will be required to ensure his father that, he will be customizing the internet advertising for the welfare of the firm and according to the capabilities of the firm. Hence, Robert`s father needs to be provided with the assurance that in addition to the internet advertising, Robert would also make use of the traditional methods of advertising. The use of the internet advertising in the domain of the firm can be stated to be as follows: It is a low cost approach: The internet marketing serves as a low cost approach and goes a long way in ensuring the firm will be successfully able to target a large group of customers. As the financial risks as involved in the business can be stated to be comparatively very high, it can be considered important for the business to ensure that, they are engaging in methods which help the firm to save considerable costs. For this reason, the internet marketing can be understood to be a cost saving method and can be adopted by the firm. It provides quick service: The internet marketing as a medium is also able to provide quick services to the different business (Yim, Lee and Kim 2014). This means that the amount of time taken using the medium of internet advertising is comparatively lesser than the other mediums and the time till which the impact of internet adverting is dealt with is much faster in nature.
3RESTAURANT MANAGEMENT It is easier to measure and track the results of the firm: The internet marketing also needs to be made use of as it is comparatively easier to measure and track the different progress easily. With respect to this, it needs to be mentioned that, a firm should be able to track the progress of their advertising easily and in relation to this, it is important for the firm to understand whether their initiatives are valid or not. The firm can engage in demographic targeting: In order to make the people aware of the sauces and the barbeque and to address the concern of Robert`s father, it needs to be understoodthat,theinternetmarketenablesthedemographictesting (Ukbusinessforums.co.uk 2019). In line of this, it can be mentioned that, if a firm wants to ensure that the right people come to know about the offerings of the brand then, they need to engage in internet marketing which will enable them to perform well and moreover, they will also be required to undertake considerable initiatives in order to see to it that the internet marketing gets directed towards the right audience itself. The internet marketing ensures tech savvy marketing: The internet marketing also assists in ensuring that the business is successfully able to reach out to the different consumers and advertise about the products of the firm (Thebalancesmb.com 2019). The tech savvy marketing medium has long ranging impacts and in this regard, it can be rightfully mentioned that by using the medium of internet marketing, the firm will be able to ensure that, the organization is able to reach out to a larger audience base. In the same manner, the firm would also be able to make overseas clients for itself. Havingdiscussedtheoverallbenefitoftheinternetmarketing,itcanbelargely understood that, to alleviate the concerns of Frank, Robert would be required to ensure that, in addition to the intent marketing, the traditional marketing would also be required to be used by
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4RESTAURANT MANAGEMENT the firm whereby they could use the medium of print media and flyers along with radio and newspaper advertising to ensure that they are being able to reach out to the designated target audience and also ensure that they are successfully able to achieve the overall goals of the firm. Hence, it lies the main concern of Robert to ensure that he is able to assure his father that the use of the intent marketing would result in the overall benefit of his firm. In addition to presenting his father with the above analysis about the benefits of Internet marketing and the use of Traditional marketing for the same, it becomes considerably important for Robert to present financial projections to his father which will then further assure him of the marketing initiatives which need to be taken. Answer to Question 6 Approach one: Fixed Menu In the first menu option, as recommended by Frank, the different dishes which will be offered to the different customers should be done from the fixed menu and hence, prepared in advance. In this kind of an option, the menu will comprise of limited options as it is not possible for the firm to ensure that at the time of the delivery, there are no problems. The kind of costs which will be incurred in this medium can be stated to be relating to the costs which will be fixed in nature. This is because, the different items will be already prepared in advance. Hence, when there exists an estimation with respect to the question whether the nature of costs is concerned, it can be mentioned that all the costs will be largely fixed in nature. However, in such a scenario, there lies chances of the food wastage as the estimates which are undertaken by the restaurant may go wrong as well (Regions.com 2019).Additionally, the pricing of such a system for the customers can be quite low when compared to the meals which are prepared in advance because, in case the restaurant owners are investing in any item, they will not incur any additional costs.
5RESTAURANT MANAGEMENT In such a case, the goods meals should be priced at a rate of 15$ per meal. This will ensure that all the fixed costs of the firm are covered and the firm can gain considerable profits as well. Approach two: Completing Pre-prepared meals The particular concept as proposed by Robert can be stated to be a rather new concept and aims to provide an extra service to the different customers as per their taste (Ozdemir and Caliskan 2014).To ensure that the particular system is successful, the restaurant would be required to prepare a base meal. Moreover, as per the customer needs, the restaurant would be required to add different items to the main base meal. It is for this extra addition, that the customer will be charged an extra fees for. The pricing of the product will be kept at a high because in this type of an offering the company is incurring additional variable costs. The price of this item will be higher because of the given reasons. The meal shall be prepared after the customer pays for the item and hence, the man power cost will be have to be taken into consideration. Secondly the cost of the add ons will be higher and will be required to prepare the fresh meals. In this case, the restaurant can charge 25% per meal. Additionally, on the positive side, the firm would not incur any inventory wastage.
6RESTAURANT MANAGEMENT References Entrepreneur.com2019.Articleonmarketing[online].Availableat: https://www.entrepreneur.com/article/78002(Retrieved on: 27 Mar. 2019). Ozdemir, B., and Caliskan, O. ,2014. A review of literature on restaurant menus: Specifying the managerial issues.International Journal of Gastronomy and Food Science,2(1), 3-13. Regions.com2019.Smallbusiness[online].Availableat: https://www.regions.com/insights/small-business/operations/the-ideal-customer-target-audience (Retrieved on: 27 Mar. 2019). Thebalancesmb.com2019.Pricingstrategy[online].Availableat: https://www.thebalancesmb.com/the-new-business-owner-s-guide-to-pricing-strategy- 1201235(Retreived on: 27 Mar. 2019). Ukbusinessforums.co.uk 2019.Marketing tips for promoting your small business[online]. Availableat:https://www.ukbusinessforums.co.uk/articles/10-simple-yet-powerful-marketing- tips-for-promoting-your-small-business.737/?q=/do/people/why-were-closing-businesszone (Retrieved on: 27 Mar. 2019). Yim, E. S., Lee, S., and Kim, W. G., 2014. Determinants of a restaurant average meal price: An application of the hedonic pricing model.International Journal of Hospitality Management,39, 11-20. Additional Readings 1.Principles of Marketing: “Chapter 8, Section 3: Functions Performed by Channel Partners
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7RESTAURANT MANAGEMENT 2.Principles of Marketing: “Chapter 1: What is marketing?” 3.Principles of Marketing: “Chapter 7, Section 2: Managing New Products: The Product Life Cycle”