As a part of academic curriculum, a team of multidisciplinary graduate students of The University of Texas at Dallas presented new marketing business plan, exploring opportunities of starting vegan restaurant business in Dallas Fort-Worth area.
1. Marketing Management : Project Presentation : Vegan Restaurant
Group 5:
Pratik Beri
Sushant Kulkarni
Anukta Natu
Shashank Natu
Priyanka Palkar
Devayani Supekar
Slide 1
2. Description
➢ Vegan Bliss is a small scale restaurant with a focus primarily on serving healthy
vegan organic food at a reasonable price.
➢ Vegan food consumers major concern is food safety, health and nutrition, climate
change and animal welfare.
➢ Statistics show that approximately 5% of the US population is vegetarian and about
half of these vegetarians or vegans.
➢ The statistics also revealed that more that 33% of the Americans are eating
vegetarian/vegan meals, though they are not vegan or vegetarian.
➢ Our product targets age groups above 20, with good income, higher level of
education and who are socially aware about the benefits of organic vegan food.
Slide 2
3. Why Vegan?
Slide 3
➢ Increased awareness about health benefits of vegan food
➢ Consciousness about sustainable future of our planet
➢ Concerns about cruelty to animals and environment
➢ About 18 million in United States are vegetarian and the size of vegetarian food
industry is about 2.8 billion.
➢ For good health and longer life
➢ Adopt a more sustainable way of living
4. COMPANY OVERVIEW
Slide 4
Mission Statement
“Vegans Bliss is a vegan specialty restaurant in the Addison area that offers a wide range of
menu options that cater to the vegan palette and strives to deliver a very healthy dining
experience.”
Company:
Vegan Bliss is a vegan restaurant, located in Addison TX. The company has an
initial budget of $250,000. The vegan restaurant market looks to be a promising
one considering the amount of awareness among people about the importance
of health.
Goal:
To be amongst the top players in the Vegan food market providing excellent
customer service and healthy food options to our customers.
6. Projected growth
➢ Meal Price range from $2.0 - $27.0
➢ Average meal price: $ 13.50
➢ The restaurant is located in the Addison area comprised of 2,00 square feet
➢ The dining room will be comprised of 10 tables with a seating capacity of 40 seats
and 10 available parking spaces to met he needs of the customers.
➢ The restaurant will employ 5-6 employees based on the sales and holiday period
$70,00 -90,00 revenue target per year.
➢ Annual 3% increase for inflation and 5% annual increase in revenues
Slide 6
7. SWOT Analysis
STRENGHT
➢ Nutritional Value
➢ Cleanliness
➢ Quality of Service
➢ Ambience
WEAKNESSES
➢ No brand name
➢ Limited Resources
➢ High initial cost
➢ Expensive raw material
OPPORTUNITIES
➢ Strategic location
➢ Growth potential in health
conscious segments
➢ Fresh appeal to vegan
consumers
THREATS
➢ Competition from global
chains
➢ Cheaper non vegan yet
healthy food options
available
Slide 7
8. PEST Analysis
POLITICAL
➢ Industry faces licensing
issues.
➢ Stringent Government
policies
ECONOMIC
➢ Organic Vegan food items are
expensive
TECHNOLOGICAL
➢ Digital content/information
➢ Direct advertising, indirect
publicity.
SOCIOCULTURAL
➢ More of a culture than just a
food option
Slide 8
9. Marketing Mix
Slide 9
PRODUCT
➢ A healthy alternative
PRICE
➢ Reasonable price
➢ Average meal cost 13.5
➢ Tie-ins with nearby offices
➢ Justify high price by offering
quality food
PLACE
➢ Addison
➢ Office going and
PROMOTION
➢ Direct mail
➢ Flyers
➢ Initial discount
➢ Periodic ads in newspaper
➢ Own website
10. Evaluation and control
As a new start up business, we understand that marketing requires constant fine
tuning and adjustments to reflect and respond to the kaleidoscopic environment
of our times. Maximum profits are guaranteed if our customers are satisfied with
our service.
➢ Measure the results from the marketing efforts, price strategy and promotion
plan
➢ Track effectiveness of the promotions, customer feedback
➢ Surveys to improve our service
Slide 10
Our primary objective is to provide good quality food which
is not only tasty but also readily available in the local markets. This way we can keep the
freshness of the food under control and reduce our dependencies on fossil fuels.
2. These concerns have led consumers to make informed choices.
3. This means that more the 7.5 million people in the U.S. eat diets that do not include any animal products.
4. That is over one third, or over 100 million people of the country consciously choosing more plant based foods!
These are highly educated individuals who are aware about animal rights, environmental issues and they are passionate about their vegetarian lifestyle. They are willing to spend a bit extra on products and brands that they care for. Because of high level of education and strong ideology associated with veganism they are also one of the most loyal customers.
Priyanka: ideal price range suggestion ?
As a marketing management team, our recommendation for NYT paywall will be : updating the interface with changing trends in technology
We all agree the web is a dynamic place and will not remain the same as it is today. Let’s look at what the marketing mix consists of:
PRODUCT: As mentioned previously, journalism is the USP: we want to increase the reach of our product based on its strength, when we say content improvement, we mean specific segments such as entertainment, sports, business news depending on what the customer is more interested in and to know that various methods such as regular surveys can be carried out
PRICE: Priyanka, i have no idea on this
PLACE: Devayani, put your untapped potential point here
PROMOTION: Special events such as elections, important games, large scale disasters need minute by minute updates of the current situation - this is a time when even non regular news followers will be glued to the TV sets to find out what’s happening. For example: a World Cup or the Super Bowl is when more audience is likely to subscribe to the news, promo codes can work in such cases
Pratik:
political
newspaper industry does not have licensing requirements
libel laws
press monitors
factors are basically to what degree the government intervenes in the economy
economic
electronic subscription sales are down
audience does not want to pay for online subscription
recession/economic uncertainty
high unemployment
print sales are down
audience does not want to pay for online subscription
companies cut advertising budgets
sociocultural
preferences shifted to digital media
can obtain free news information on-line
audience is now browsers instead of readers
audience perception of news has changed
want to "be green"
Trends in social factors affect the demand for a company's products and how that company operates.
technological
move to digital content
social media, blogs & others sources
e-readers & Apps