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  • Subject area(s): Marketing
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  • Published on: 14th September 2019
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PART A. INTRODUCTION TO BUSINESS CONCEPT:

1. INTRODUCTION TO BUSINESS

Scottish castles are one of the buildings that keep the fort and residence built within the boundaries of the present day Scotland. In the twelfth Century, the castle reached Scotland with the introduction of the feudalism empire. This give us huge tourist response in that area.

WHY?

Being packed with stunning places and history, the UK is blessed with many palaces, providing plenty of amenities like breakfast bedding and hotels also offer some self-catering so that you can become your master.

Due to the decline in the 16th and 17th centuries due to the decline of England's Palace Hotel, it is a surprise to all people, when Oliver Cromwell used heavy siege artillery on his walls; many people were killed in the English Civil War with many being dealt their final death knell.

As a result of the centralization of a God or noble ruler royal authority in the twelfth century, the palace arrived in Scotland in the sense of residence. In the north, there are fewer evidence of palaces in Scotland than the politically less than the 1120s in England, which were centralized, still the rule of the Norwegian kings was still in force in the north.

Product?

Cooking with judgment

When you make a dish for the first time with the help of a prescription, you should try to make your skills from your side with some new thinking, you should set the following points:

1. What are the basic cooking methods?

When you have a method of making sorbitrine, you immediately understand the bridging used in it, even if the word Brise is never used Recipe you should review your mind about what you know about fundamentals brave processes.

Target Customer?

Scotland is full of historical place. There are so many tourists who visits medieval castle.  On this business idea this place is for people who love food and history.

1. BUSINESS OBJECTIVES:

The primary objectives of the CAFÉ CALLING are mentioned below:

 To offer our customers a unique, sophisticated, high end dining experience.

 To attract customers by offering best food with reasonable price.

 To treat to as they want to be.

2. MISSION STATEMENTS AND VALUES:

Eating out is a growing trend, since people are increasingly pressed for time and enjoy this convenience. So here we are –

The Witchery by The Medieval Castle is seeking towards 3 Goals:

PART B. OVERVIEWAND DESCRIPTION OF THE INDUSTRY

1. INDUSTRY AND COMPETITIVE ANALYSIS

More than three-quarters of UK restaurateurs expect the overall number of restaurants to expand over the next 12 months, according to research conducted by The Caterer in partnership with law firm TLT. A total of 77.7% of restaurateurs polled said they expected to see a small or significant increase in restaurant sites across the UK. Only 17.6% expected there to be no overall change, with a tiny 4.6% of those surveyed expecting a small or significant decrease. And it was casual-dining and fast-casual businesses that were the most likely to increase the number of their restaurant sites.

Nonetheless, the results also pointed to some of the significant challenges to achieving growth. Principle among them was finding a suitable site, which 66% rated as the most significant, ahead of recruiting suitable staff (53%) and the expense of acquiring the site (38%). London was seen as the city offering the greatest opportunity for growth (48% of respondents), followed by Birmingham (17%) and Bristol (16%). And when it came to the type of location restaurateurs were after, 49% said they wanted to be on a town or suburb high street, while 40% favoured a prime city centre location.  

2. DISCRIPTION OF INDUSTRY:

UK is one of the fastest growing economics in the world. The Gross Valve Added (GVA) by hotels and restaurants has witnessed an annual increase in both absolute and relative terms. The current decades are overseeing a shift to larger organised sector. This phase witnessed a sharper segmentation within the different formats based on consumer needs and offerings by the brands e.g. within QSRs there is a clear differentiation between pizza chains and burger chains, within CDRs a further segmentation was observed as premium and valve based CDRs based on attributes like ambiance, service style and cuisines etc. this phase also seen the birth of food technology which is estimated to be growing at almost 15-0% year.

This includes about 480,000 restaurants with combined annual revenue of about $400 billion. Major companies include McDonald's; YUM! Brands (KFC, Pizza Hut, Taco Bell); and Darden Restaurants (Olive Garden, Red Lobster). The industry is highly fragmented: the 50 largest companies hold just 20 percent of the market. (First Research).

The industry consists of full-service restaurants (FSR) and limited service eating places, which include quick-service restaurants (QSR); cafeterias; buffets; snack bars; and non-alcoholic beverage bars.

This industry comprises establishments primarily engaged in providing food services to patrons who order and are served while seated (i.e., waiter/waitress services) and pay after eating.  These establishments may provide food services to patrons in combination with selling alcoholic beverages, providing carry out services, or presenting live non-theatrical entertainment.

Market size:

Restaurants Services is emerging as a key contributor for the UK economy, including employment generation, skill development, growth in the allied industries, entrepreneurship, and tourism and creating experiences for the Indian consumer. It is imperative for the Indian government and regulators to recognize the contribution and role of Food Services Industry and take measures to create positive policy framework for industry's growth.

Market Structure and Segments:

Restaurants Services Industry is classified in two segments: organized and unorganized based on following three key parameters:

1. accounting transparency,

2. organized operations with quality control and sourcing norms, and

3. outlet penetration.

The restaurants Services outlets that do not conform to the above three key parameters would be categorized under the ‘unorganized' segments. This segment primarily comprises of dhabas, roadside small eateries, hawkers and street stalls.

The organized segment conforms to above three parameters and is further classified in Chained and Standalone formats. Chained formats are domestic and international formats with more than three outlets present across the country.

PART C. INTEGRATED MODEL OF A SUCCESSFUL BUSINESS

1. For a successful business we have to integrated all the possible things we can do. Integration of different can be understand like cooking food, if you miss one ingredient of the recipe then it will not taste perfect.

Integration of business provides us the key to winning the survival in an overcrowded market is a very clear identification of own market position in relation to competitors. There are several questions to which the enterprise manager must find the answers. The smaller the number of competitors, the easier it is to acquire the information, as all market participants are on the open and can be easily traced in the newspapers, conferences, advertisements. The more competitors there are, the more difficult it is to trace them.

Questions to ask are as follows: - What are your competitors?  - What are their products and services? - What is the potential market share owned by them? - What leverages ensure their success? - Why do they have advantages in price? - What is their financial status? - What could be their next step?

Likewise, the following questions should be clarified:

- What are the potential competitors? - What is the probability that they would enter this particular market? - What would they do to attract your clients? - What threats this is causing?

2. SWOT Matrix on The Witchery by The Medieval Castle:  

The answer of the above questions can be given by SWOT analysis.

• Strengths:

 Prime locations with easy access for the University students and Locals around the city.

 Exceptional staff with the “can do attitude”.

 Due to our small size, we believe we can provide exceptional quality by hand selecting our market specials when compared to our larger corporate competitors.

 The same concept holds true in our staffing requirements, by hand selecting our employees we will strive to offer unsurpassed service when compared to our larger competitors.

• Weakness:

 Tight margins will allow little wiggle room for errors.

 Recruiting and training quality employees.

 We have to manage time for every customer, because every customer takes different time for their respected food and services.

• Opportunities:

 Little barriers to entry allows for immediate business opportunities

 Get a chance to connect with the new generations.

 Offer additional catering services.

• Threats:

 Rising operating costs.

 Building/ maintain sales volumes.

 Consumers believe that meals that made at home are healthier than those who prepared in restaurants.

Strategy Pyramid:

Services:

We will provide excellent service to became the premier restaurant in customer's satisfaction and experiencing the quality.

Tactics:

First create awareness – our signage on the front of historical sites, airports, train stations, magazines, internets, etc. This will bring customers to us and once inside, we will immediately acknowledge the customer with the warmest and sincerest greetings and begin the service process with their selected zone area which anticipate repeat customers.

Programs:

We will provide every employee training for better customer service and retention; offer ongoing training programs for employees keeping them current industry trends and safety. Keep tracks of employee's progress through performance reviews and offer employees incentives attracting and retailing customers.

RISKS MANAGEMENTS

Company management is responsible for constantly evaluating risks and taking corrective actions to provide adequate prevention, control and risk reserves. We have identified several risks that are associated with our business project.

There are many possible classifications of risks, but for the purposes of this plan, we have chosen to group them as follows:

• External Risks - (These risks come from outside the company and are more difficult to prevent and control.)

a. Competition and buying patterns changes.

b. Suppliers.

c. Technology; New and more efficient food preparation equipment is expected to become available.

d. Location. The chosen location will be leased for minimum five years, with the possibility to extend the lease over another similar period.

e. Inflation.

• Internal Risks - (These risks come from inside the company and can be better prevented or controlled.)

a. Personnel. Our personnel strategy includes modern management techniques that will be applied to select, hire, motivate, and reward the employees.

b. This strategy is expected to build and maintain employee loyalty, and increase productivity. However, before hiring new employees, their background check will be reviewed, to avoid possible employee theft, which is a frequent risk in the restaurant industry.

c. Cash flow deficiency. Our main concern will be to have sufficient cash on hand to meet our payment obligations, and be prepared for unexpected needs of cash. Our conservative projections indicate that our business is able to generate positive cash flows and sufficient cash reserves to reduce the risk of cash flow deficiency.

d. Business continuity in addition, the company's incorporation legal documents include special provisions for protection in such cases.

e. Management. should also have relevant skills and a solid background in the food industry.

Ten things which I do for a successful business –

i. Choose a proper location.

ii. Flexible business hour and menu.

iii. Nice and comfortable infrastructure.

iv. Best quality hygienic fresh food.

v. Weekly inventory with daily inventory tracking.

vi. Timely service.

vii. Helping staff.

viii. Database.

ix. Loyalty Program.

x. Feedback from every customer.

PART D. PESTI ANALYSIS

PESTLE example for Restaurants industry as at July 2017

Political -

Politics has the potential to have a dramatic effect on the future of tourism sector presenting many opportunities alongside many risks to existing and future tourism developments.

The United Nations have a number of advisory boards in order to provide “secure tourism boards for all” with the primary focus being on providing tourism for all to access, but at the same time promoting tour sources such as with particular emphasis being placed on the environment impact.

External factors to consider Factors affected within my industry Importance to organisation

Government policy

  The decision by the UK to leave the EU has left the pound weaker and an uncertainty with future trade restrictions in Europe. Profit margins are bound to be affected by this move.

Many stores are in City centre locations; past and potential terrorist threats have affected tourism and footfall in shopping malls.

Government Tax levies on goods. Consumer protection rights. Medium

Awaiting BREXIT

Political stability HIGH

Tax Industry regulations MEDIUM

Global trade agreements and or restrictions LOW

ECONOMIC –

External factors to consider Factors affected within my industry Importance to organisation

Exchange rates Exchange rate conversions remain volatile, affecting negotiations with suppliers.

Uncertainty prevails in the UK business markets and investors due to the UK leaving the EU.

Country-specific demand and supply. Consumer spending habit changes put pressure on certain goods whilst others are in decline.

Manufacturing sites in the UK are costly to run – consideration was being given to setting this up elsewhere globally. With the decision to leave the EU, this factor should now be put on hold. Medium

Globalisation Economic growth / decline Inflation Medium; awaiting BREXIT

Interest rates Medium

Cost of living High

Labour costs Consumer spending habits Medium

Social –

External factors to consider Factors affected within my industry Importance to organisation

Consumer trends /tastes,  Fashions   Cultural diversity and preferences by region or country.

Our clothing range does not cater to all ages and sizes of people.

The demographic with the most disposable income sits within the 40-65-year-old demographic.

Investment is required in market research to determine a move towards a more inclusive approach.

In some regions local demographic labour markets do not want to work in retail for minimum/living wage. Medium ongoing

Consumer buying habits High; more research required

Lifestyle factors High; more research required

Career attitudes High; more research required

Work-life balance High; store are not sustainable.

Population demographics

Technology –

 External factors to consider Factors affected within my industry Importance to organisation

Automation Innovation E-commerce side of the business is underdeveloped and overshadowed by in-store buying.

Is our technology fit for purpose now and for the future? A preference for online shopping is a popular trend by increasingly older populations - not just 20-40 year olds. How appealing is our online presence? Website ease of use for customers.

Smartphone apps for ordering goods.

Data storage confidentiality and consumer rights.

Need to improve technology for analytics and buying intelligence.

Rise in cybercrime risk to data protection and operational stability. E.g. Cyber-attack on NHS through ‘Ransomware'. develop online intelligence. Medium; longer term strategy.

Disruptive technologies Medium; GDPR - new regulations due May 2018.

Social networking High; trend for customers to compare online before they buy in person.

Upgrades Robotics High; explore internal capability.

Artificial Intelligence Security High; this could render our software inoperable.

International –

External factors to consider Factors affected within my industry Importance to organisation

Environmental restrictions imposed by in-country governments

The rise in ethically and environmentally conscious shoppers.

 Ethical sourcing has pushed the price up of our goods however, Customer relationships have improved since we introduced and publicised our ethical sourcing policy and CSR intentions.

 But two of our competitors still out-rank us in producing environmentally friendly products. Medium

Sustainable resources CSR (Corporate social responsibility) Low, but keep an eye on customer loyalty.

Ethical sourcing

High; more research required.

Transportation Procurement

Supply chain management

Part E. Information Technology

Technology gives us freedom from the cash register to the kitchen, technology is now an integral part of how good restaurants operate. Innovators are constantly coming up with new digital solutions to make running a restaurant easier, faster, and more profitable.

This tech revolution has turned once imagined solutions into foodservice necessities, entirely transforming the restaurant business.

Below are seven technologies that should be every brand's menu.

1. Bluetooth temperature sensors

It's no secret that HACCP (food safety) checklists are a pain. That's why many restaurants have started utilizing Bluetooth temperature monitoring systems to ensure their food and equipment are up to par. Using handheld probes and fixed sensors, restaurants can manually or automatically measure the temperatures of their key assets in as little as four seconds. Managers can program customized limits for each food and equipment and be alerted if any temperatures are beyond their acceptable threshold. These Bluetooth sensors can also wirelessly record temperature readings in a HACCP log so that employees do not have to. This prevents staff from falsifying daily reports and simply eliminates paper logs altogether. Wireless temperature systems ultimately take a proactive approach to food safety, helping restaurants to avoid product loss and most importantly protect customer safety.

2. Optimized schedule makers/scheduling software

Restaurateurs know all too well how difficult scheduling can be. Luckily, there is now software to help them get the job done. In just seconds, managers can generate and distribute a digital weekly schedule to all employees. Shift times and positions are optimized according to historical staffing patterns and forecasted sales levels to avoid over- or under-staffing. These schedules also account for employee availability, time off requests, and shift swaps– all which are done directly through the app. This technology is even capable of monitoring sales and staffing budgets to reduce overtime and ensure profitability. In fact, restaurants using scheduling software have seen up to a 2 percent reduction in labour costs. Thanks to scheduling software, getting the right people in the right place at the right time just got a whole lot easier.

3. Virtual reality on boarding

VR and HR come together to create the newest trend for employee management: Virtual reality on boarding. Using a headset and customized software, new hires can engage in a truly unique experience, without the risks and cost of a normal training session. They can take a 360-degree tour of the facility, watch other employees in action, and test their skills in simulation games. With VR on boarding, trainees don't have to touch the food or even be in the restaurant to learn how to do their job. There is less pressure on them to avoid mistakes and managers have more time for their other responsibilities.

First tested by Honey grow, this technology is shown to prepare workers better and faster for their jobs. Restaurants utilizing this new technology can be assured that all employees receive the same training and are equally prepared to take on the daily operations of the restaurant.

4. Digital inventory tracking

The pen-and-paper method is a thing of the past now that digital inventory tracking has made its way into the restaurant business. Many restaurants are switching over to an electronic inventory system as it provides them better visibility of their main assets. Through a mobile device, restaurant employees are able to directly submit and view inventory counts for greater efficiency and accuracy. Managers can also set up customized counting schedules for each product in inventory. Having the flexibility to adjust frequency and timing allows them to keep a closer eye on high ticket items. Not only does this software keep track of actual product counts, but it also monitors theoretical inventory levels. Using recipe and POS data, this tracker can calculate how much inventory a restaurant should have on-hand based on the items sold. A comparison of the two counts can alert managers to discrepancies from over-portioning, waste, and theft so that they can be resolved immediately.

5. Automated purchasing tool

One of the biggest mistakes a restaurant can make is not having enough food to serve. Save yourself the headache and let an automated purchasing system do the work for you. Linked directly to your inventory system, this digital tool helps managers stay on top of stock by alerting them to low product levels. This technology suggests intelligent purchasing recommendations based on vendor product lead times, forecasted sales quantities, and custom par levels. Managers can also enable automatic orders to placed whenever inventory reaches a certain threshold. The entire purchasing process can be managed through the app– from approving suggested orders to verifying invoices and even comparing vendor bid prices. With so much going on in a restaurant, it helps to have a purchasing software to keep an eye on inventory.

6. Kiosks/ table top tablets

Say goodbye to cash registers and hello to kiosks, the newest in point-of-sale technology. You might have already seen a few of these free-standing screens at your local restaurant chain, and if you did, you probably noticed the dramatic difference it made to the ordering process. At these kiosks, customers are able to browse the menu, create customized orders, and pay for their meal entirely on their own. This, along with suggestions for upsells and cross-sells, encourages diners to order more. Having kiosks to handle the transactions allows employees to focus their efforts on back-of-house operations and customer service, rather than having their efforts divided. There is talk of developing these devices further to incorporate recognition technology, which will allow the system to suggest orders and payment type according to a customer's visual and verbal signals. Until then, the current kiosks will continue to increase a restaurant's efficiency and profitability.

7. Digital table/reservation manager

Long wait times are a major source of diner dissatisfaction at restaurants. Keep both your customers and hosts happy with a digital table manager. This software does everything from booking reservations directly with customers to suggesting optimal seating arrangements based on time and party size. Restaurants can also give customers accurate wait time estimates and notify them via text when a table is ready for a more pleasurable waiting experience. Waiters are also equipped with key information provided through the reservation and dining history such as favourite dishes and important dates like birthdays and anniversaries. The wait staff is also able to update customers on the status of their food at any point throughout the cooking process. A digital reservation manager is the secret to getting customers off on the right foot from the moment the step into the restaurant.

Over the years, technology has become the key ingredient for success in the modern food service industry. Simply having good food is not enough to keep a restaurant in business as it is the newest innovations that give restaurants the much-needed edge over the competition. Although these technologies come at a cost, the results that restaurants see in their business is well worth the investment.

After improving our cash flow we are thinking to provide new experience to the customers.

There are some unique ways of cooking that are used, which are used in cooking and increasing taste. The methods that make up are divided into two parts, Dry heat cookery methods and moisture heat cookery methods. To understand the methods of dry heat cookery, take a glance at the eye. Dry heat Methods, Baking, stewing, grilling, roasting, barbeque etc. we will make a self-service restaurant in which people get to cook their meals on the UK tradition. Referencing –

WHO

created it? WHEN

was it published? WHAT

is it called? HOW

can it be found?

Aim For ?

 Printed items

Books

Third edition (April 1, 2013) Jaguar: All the Cars - 3rd Edition

Haynes Publishing this book  include all Jaguar developments of the past years,

Journal articles

CIPD

 Dec 11th 2017 Retail industry report 2017 The Economist About retail industry.

Electronic items

E-books Changing tastes Sep 2017 The UK dining Market Internet To know about the dining market.

E-journal articles BDO

Restaurants and bars report Jan, 2017 Report on restaurants Internet article Comprehensive analysis on the restaurants and bars

Websites 1) Wikipedia

2)

2)www2.dwolite.com

3)  www.bdo.co.uk/

 

5))https://www.fastcasual.com/ 1)Jan 2018

2)2018

3) OCT 208

4) 23rd March, 2018

5)FEB 2018

1)Market Analysis

2)Market Analysis

3) restaurants analysis

4)Restaurant company profile

5)strategy of marketing

6) Technology used in Restaurants 1)https://en.wikipedia.org/wiki/restaurants

2)www2.dwolite.com/content/dam/Deloitte/uk/ Documents/Com=nsumerIndustrialProducts/deloitte-uk-casuals-dinning-market.pdf

3)www.bdo.co.uk/getmedia/bb73d449-4c87-4b44-9a9f-7088c86afd64/BDO-Restaurants-and-bars-report-2017

4)https://www.ukessays.com/essays/marketing/restaurants-report  -profile-marketing-essay.php

5) https://www.fastcasual.com/articles/7-technologies-transforming-the-restaurant-industry

  1) about swot research work

2)about food analysis

3) about market research

4) about restaurants industry profile

5)marketing strategy

6) technology used.

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