Business Plan for the Pizza and Pasta Restaurant in Oxford
Business Plan for the Pizza and Pasta Restaurant in Oxford
- Market for Pasta Project Restaurant in Oxford
1.1 Situation Analysis
1.1.1 Demographics
Demographic environment in Oxford, UK, is favorable for the development of the restaurant activities: the population is growing and there many visitors in the city. The population growth made up 12% during the period of 2001-2011. The target market for pizza and pasta restaurant is wide – from children to elderly people of both genders because fast food alternatives are popular (Oxford City Council, 2012).
- Economic Environment
The sharp increase of unemployment in UK and income dropping tendencies do not create a favorable external environment. However, Oxford is the sixth city in UK by the number of international visitors willing to spend money on restaurants. Besides, food industry is less influenced by the economic fluctuations because it is connected with physical needs of people (Grant, 2013).
- Technological Innovations
- Cultural and Social Forces
The culture of eating pizza and pasta is rather developed in UK since it is a fast and easy way to satisfy hunger on-the-go. Besides, presence of many tourists makes this tradition even more popular (Endsley and Garland, 2000).
- Organizational Objectives
At the present time, the main organizational goal of Pasta Project is to form the awareness of the restaurant and to attract customers. The main problem is how to position the restaurant in the highly competitive environment.
- Marketing Strategy
Marketing strategy should target families, small groups of people (friends), and tourists. Pasta Project should emphasize differentiation strategy aimed at sustainable service and production based on the idea of offering organic food (Afuah, A., 2009).
- Promotional Strategy
Early birds are offered a 10% discount. An additional 5% discount is offered for each referral. The main emphasis is made on on-line promotion, Facebook and Twitter advertising, and the word-of-mouth (Campbell, Edgar and Stonehouse, 2011).
- Competitors
The competition in the restaurant industry is high: there more than 478 restaurants offering pizza and pasta in Oxford. The main competitors are Mamma Mia and Pizza Hut.
- Customers
The circle of customers is wide from families and small groups to individuals and tourists. It is important to develop customer’s loyalty and attract the interest of the customers to Pasta Project restaurant (Grant, 2013).
- Target Market
The target market is presented by individuals, families, tourists, and groups of people. There should be a takeout option: people that prefer to eat Pasta Project food in their home or at a different location than the actual restaurant.
The customers of Pasta Project are individuals between 25 and 60. However, age is not the important characteristic of Pasta Project’s restaurant. It also offers children, vegetarian, and diet menu aiming to provide healthy food. The most defined characteristic of the target market of Pasta Project is income since organic products are expensive. However, the restaurant is supposed to find its customers because the interest to healthy eating is increasing. Gourmet pasta restaurants are popular in high rent and mixed-use urban areas like Oxford. These areas could have customers who have relatively high disposable income of £40,000 and higher day and night. Taking into account the characteristics of potential customers, the target market will consist of sophisticated high-income families, gourmet tourists, young professionals working in the neighborhood, and shoppers patronizing high rent stores.
The restaurant will employ the strategy of differentiation emphasizing on originality of design and waiters dressing. The restaurant will be designed in a fantastic marine style with waiters, barman, and cleaning staff wearing weird marine dressing.
- Marketing Mix
Product
The emphasis should be made on organic products, sustainable production, fair trade, and environmental safety as it is the most popular trend in the UK. Pasta Project should recommend itself as the place offering exceptionally healthy food. The restaurant will strive to maintain the highest food quality and provide new and seasonal options.
Price
The reputation of this restaurant will command high prices. The price is calculated taking into account the high level of service and food in the restaurant satisfying the needs of clientele that is willing to pay for high quality. The discount will be available for those visiting the restaurant from 9:00 a.m. to 12 a.m. Special promotions will be available every day for the customers visiting the restaurants in the hours when the customers’ flow is not intensive (Bodea and Ferguson, 2010).
Promotion
The restaurant provides special promotions for week days, weekends, and early birds. Also, Facebook and Twitter advertising and the word-of-mouth referral are encouraged. The most active promoters of the restaurant are encouraged by free diners – free dinner for 10 referrals.
Place
The place is designed in high-tech style with seductive pizza and pasta pictures on the wall. Each table is equipped with special devices that allow making orders without waiters: the customers choose the items they want to purchase using special sticks and touch screens with menu.
People
In the restaurant context, people mean waiters, chefs, and cleaners since overall cleanness, the quality of food and services depend on them. The personnel should be chosen carefully. Regular training of the personnel should be conducted to assure the quality of products and services provided.
Physical Evidence
The restaurant will be designed in marine style with live fish in the aquarium. Actually, the restaurant is inside of an aquarium like the very famous hotel in Dubai. The waiters are dressed like water-nymphs (Dess, Lumpkin, Eisner and McNamara, 2011).
Process
The main distinctive feature of the restaurant is the menu. The customers can choose the options by themselves and the options are automatically delivered to them. The waiters play the role of the part of the restaurant design, however, serving customers if necessary.
Productivity
Pasta Project offers the opportunity to enjoy exclusiveness and exceptional position of its customers. Cozy and relaxing atmosphere helps the customers feel free of their daily routing and overcome stress (Kotler and Keller, 2008).
References
Afuah, A., 2009. Strategic Innovation: New Game Strategies for Competitive Advantage,
1st ed. London: Routledge.
Bodea, T. and Ferguson, M., 2010. Pricing: Segmentation and Analytics. New York:
Business Expert Press.
Campbell, D., Edgar, D. and Stonehouse, G., 2011. Business Strategy: An
Introduction, 3d ed. Basingstoke: Palgrave Macmillan.
Dess, G., Lumpkin, G. T., Eisner, A. and McNamara, G., 2011. Strategic
Management: Text and Cases, 6th. New York: McGraw-Hill/Irwin.
Grant, R., M., 2013. Contemporary Strategy Analysis. 8th ed. New York: John Wiley & Sons.
Endsley, M. R. and Garland, D. J., 2000. Situation Awareness Analysis and Measurement.
Boca Raton: CRC Press.
Kotler, P. and Keller, K., 2008. Marketing Management, 13th ed. New Jersey: Prentice Hall.
