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  • Subject area(s): Engineering
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  • Published on: 7th September 2019
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  • Number of pages: 2

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Chapter 3: Market and Competition

3.1 Description of customers

As of 2011, Chennai City had population of 4,681,087 as per the census held. With the population increasing this is a great target market for our new conceptualized restaurant. Thus we have a really huge market to cater to.

Like Delhi, Mumbai, and Kolkata, Chennai is one of only a handful few Indian cities that are home to a differing population of ethno-religious communities or groups.

Chennai district, a Metropolitan Area that has an economy of $210 billion, rated currently the fourth-largest economy in India which contributes $66 billion and the third highest GDP per capita (Raghavan, 2015). It is also rated among Indian cities ahead of the three metros and Bangalore for having the highest quality of life (Gorgemans, 2007).

So this shows lifestyle of citizens of Chennai is very good and our restaurant is with no trouble is affordable.

3.2 Customer occasions, needs and benefits

We will also include home delivery service in the 10 km radius. In South India or particularly Chennai customers in breakfast want to have idli or dosa alongside coconut chutney or tomato chutney. Both these are produced using a fine glue of rice and lentils. They likewise get a kick out of the chance to have upma (made of rava), idiyappam or vada.

In lunch dinner there is a variety of food including steamed rice presented with sambar, rasam, kootu, buttermilk, chutney and curry. The non-veggie lover feast incorporates curry or dish arranged by chicken, sheep or fish. Be that as it may, they are deficient without pickle, plate of mixed greens and papad or appalam. In the snacks, they want to have crisp or onion pakoda, vada, murukku alongside separated espresso. In the vast majority of the food items, crisp or dried curry leaves are included for an exceptional taste and aroma. It's utilized broadly over all of South India.

This helps up to serve Chettinad taste to every dishes of other South Indian cuisine.

3.3 Market segments

We will keep the prices lower to cost ` 450-500 approx. per two persons. We are targeting mid and higher middle class people so that we could earn a good profit out of it. Lower than this amount will be difficult to earn sufficient profit for us. Our target market is youngsters, corporate adults and especially family and kids.

3.4 Market size in the area

The Vadapalani Andavar Temple also known as Murugan Temple is famous all-over the state of Tamil Nadu is near to National highway (NH47) which divides Vadapalani area into half. Highway public which come for pilgrim of this temple is very close to our restaurant and will attract many pilgrims.

Their also a park named ‘Sivan’ which is 1.7 km away from the restaurant those people can also be attracted.

There are many offices near by offices such as HCL Technologies, MCCI Interconnect Solutions, a huge Tata Consultancy Services Office, Emphasis Infotech, SRM Technologies, and some small offices, most of them does not have their own canteens so office employees can easily travel between 1 – 2.5 kilometres and can have a meal in a proper fine dining restaurant.

In the radius of 3 kilometres, there are a number of Colleges and Universities like SRM University, Jawahar Engineering College, LV Prasad Film Institute and Madras Institute of Fashion Technology. Students who don’t like or bored with canteen food can come to have delicious meal of ‘The Southy’.

And there are also some hospitals and clinics that are situation in this vicinity. Patient’s relatives or friends can eat delicious meal compared to tasteless food of the hospitals.

3.5 Location of customers and flows

Vadapalani is an area in the city of Chennai. Vadapalani is one of the busiest zones in Chennai. Vadapalani is located at the heart of Chennai, so the region is exceptionally highly populated.

Every restaurant needs to give time to get popular. Ours will also take some time, but we will make sure it gets popular in no more than in 3 years. As soon as the restaurant becomes profitable we will start investing the money to expand the restaurant. We want to open more outlets in the city, and hopefully we will start opening outlets all over the country. After getting popular we estimated that the restaurant at breakfast timings the flow of the customers will be less as most of the students of colleges and employees of the offices have their breakfast at their homes. But in the afternoon people starts to move and restaurant will be very active and in the evening people starts to rush and restaurant will work at its full potential. The restaurant timing will be from 8am to 11pm (15 hours).

3.6 Marketing projects over the period

We will go to this colleges and offices to do publicity for our Restaurant. these people which will subscribe and become a member of our special website.

According to our ID card of The Southy Restaurant they will get special discounts and offers will be given via SMS or email which they have provided.

This discounts and offers will only be for our regular customers.

3.7 Competition

The things that makes Southy different from other restaurant is that it is a fine dining restaurant that serves pure authentic Chettinad food. No other restaurant is a fine dining with only Chettinad food in whole Chennai. For example: Mylapore filter coffee, Kothu parrota, Idayappam are not served in many restaurants. These dishes are taken from local Tamil Nadu cuisine.

The nearby restaurants that can be competitors are:

 Anjugam Chettinadu Restaurant

• Cuisines: South Indian, Chettinad, Chinese, North Indian

• Type: Quick Bites

• Cost Per 2 Persons: ` 350

 Manvaasanai Chettinad Restaurant

• Cuisines: South Indian, Chettinad, Chinese

• Type: Quick Bites

• Cost Per 2 Persons: ` 450

 Friends Chettinad Restaurant

• Cuisines: North Indian, Chettinad, Chinese, Biryani

• Type: Quick Bites

• Cost Per 2 Persons: ` 500

 Madurai Appu

• Cuisines: Chettinad, Chinese, North Indian

• Type: Casual Dining

• Cost Per 2 Persons: ` 500

 Simran's Aappa Kadai

• Cuisines: Chettinad, Chinese, North Indian, South Indian

• Type: Casual Dining

• Cost Per 2 Persons: ` 600

 Hotel Pandia's

• Cuisines: Chettinad, South Indian, North Indian, Chinese

• Type: Casual Dining

• Cost Per 2 Persons: ` 700

(Vadapalani Restaurants, 2015)

The competitors exclude – cost price lower than ` 300 per two people, cost higher than 1000 per two people and restaurants far from 4km radius.

Chapter 5: Operations

5.1 Critical success factors

5.2 Quality management and control

The principle aim of our restaurant is to change over the raw materials into great quality sustenance and serving it. We will buy all the ingredients fresh from the local vendors. We will utilize all the equipment’s and gears required for cooking different items and will do proper maintenance according to the given time. All mise-en-palace will also be likewise completed the prior night ready to serve in the morning. All our beverages like juices will be freshly prepared.

5.3 Organization structure

5.4 Employee management and motivation

We will create daily competitions for your employees for a prize or name acknowledgment on a Representative board. If the employee sells the most expensive or by upselling the dish that employee will get a 5% price of that particular dish voucher and that amount will be added in his monthly salary.

There will be a bulletin board that demonstrates the "Employee of the Month" or some other staff achievement or acknowledgement, that will motivate employees.

We will also offer rewards, bonuses and prizes from these employees will be not leave their job and will be happy to work in the restaurant. Also staff which will work with the firm for six months, one year and at regular intervals after that, cash incentives will be offered.

(Marquis, 2010)

We also believe that to compliment the employees is the best motivation.

The owner has to work with same enthusiasm and hard work like the employees do this will motivate them to work hard more. Our staff will not work more than an 9 hours of shift. At our restaurant, we will also keep some game to play when there will get some free time from work.

Chapter 7: Blueprint of the Restaurant

The Southy Restaurant

Dining Area 1200 Sq.Ft

Kitchen 650 Sq.Ft

Washroom 150 Sq.Ft

Total Area 2000 Sq.Ft

Chapter 8: Conclusion

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