Innovative Strategies for Steakhouse Delight: A Case Study

This case study explores how Steakhouse Delight, a fine dining restaurant in New South Wales, Australia, introduced molecular gastronomy to retain popularity and expand business. The owner, Nick Statham, aimed to build a huge reputation for the organization in all over Australia and expand the business in the market of New Zealand in the near future. The study discusses the target customer base, customer value proposition, customer relationship, channels, revenue stream, key activities, strategic partners, and longer-term prospects of the restaurant.

Entrepreneurship

Background
 Steakhouse Delight is one of the most reputed
fine dining restaurants that is located in New
South Wales Australia and the owner of the
restaurant is Statham Family.
 Currently Nick Statham is running the business
being the representative of the family and is
aiming to build a huge reputation of the
organization in all over Australia and also
aiming to expand the business in the market
of New Zealand in near future.

INNOVATION
 Nick Statham decided to introduce the age
old restaurant as a new molecular
gastronomy pub in order to retain the
popularity of the organization in the tough
times.

Customers and markets
Nick Statham before renovating
the family business organization
studied the market of operation
and decided that for achieving
success the target customer base
should be of the age group of 20
to 45 as the type of services

 The restaurant is going to provide foods
with low fat so that it will be beneficial for
reducing the high risk of obesity which
becomes an epidemic in Australia (Hayes et
al. 2016).
Customer Value Proposition

Customer Relationship
 The company is going to organize
campaigns in the local community about
the detrimental impacts of obesity and
other food oriented health problems.

CHANNELS
 Social media like Facebook and twitter
are the principal social media that can
generate more customers for the
company.
 Promoting through flyers and television
are considered to be the traditional
marketing mechanisms for the company.

Revenue Stream
• Lead customers generally care for the
quality of food, and not much for the
service quality (Cole 2016).
• The revenue stream can be directed
through online sales with PayPal as the
payment option.

Key Activities
The company can generate
business value through this
venture, alongside making the
Australian people more conscious
about consuming food in
restaurant.

STRATEGIC PARTNERS
 The suppliers of the company will be the
markets from where the raw materials need
to be procured.
 The bank will provide the initial loan to the
company so that the restaurant can be
opened without any hassles.

Longer term prospects
The company will be trying to
open their branches in different
cities of Australia as well so that
the restaurant can become
famous and result in a higher
profit as well.

Reference
Cole, S., 2016. Can Managed Services Help Your Firm's Revenue
Stream. Legal Mgmt., 35, p.19.
Hayes, A., Chevalier, A., D'Souza, M., Baur, L., Wen, L.M. and
Simpson, J., 2016. Early childhood obesity: Association with
healthcare expenditure in Australia. Obesity, 24(8), pp.1752-1758.
Larsen, S.B. and Jacobsen, P., 2016. Revenue in reverse? An
examination of reverse supply chain enabled revenue streams.
International Journal of Physical Distribution & Logistics
Management, 46(8), pp.783-804
Stewart, S., 2016. Independent School Has Everything but a Large
Tuition Revenue Stream: Waterside School, Stamford, Connecticut.
Independent School, 75(4), p.n4.
Sulaiman, M.Z., 2016. Translating Australian Urban Gastronomic
Experiences for Malay Tourists. Pertanika Journal of Social Sciences
& Humanities, 24.