Offer various specials throughout the week that people can come to
. MARKETING ANALYSIS 7 P’s of Restaurant PRODUCT: Product marketing deals with marketing the product to prospects, customers, and others. The products being offered at FUSION are-a cosmopolitan flair, comfortable atmosphere, striking décor, entertainment, engaging clientele along with an international menu comprising of multi- cuisines: INDIAN, ITALIAN , CONTINENTAL and CHINESE. FUSION will be the only restaurant among all the competition which focuses the entire menu on healthy and low-fat cooking PRICE: Pricing is one of the most important elements of the marketing mix, as it is the only mix, which generates a turnover for the organization. It costs to produce and design a product, it costs to distribute a product and costs to promote it. The pricing strategies that we at FUSION will be considering during the preparation of the menu are- Competition pricing Product Line Pricing Premium pricing
Based on the questionnaire, following feedback was obtained:
People look for customer service most, followed by décor.
People mind spending more money, even if they are offered quality of service
3/4th of the people surveyed visit a restaurants at least once a week.
They prefer Indian cuisine the most, followed by Chinese, Italian and others
They look forward to new dining experiences given the opportunity
While choosing a restaurant, customers are price conscious.
Entrepreneur’s personal resources Financial institutions Angel investors Unusual resources Venture capitalists Public offering Business development programme POSSIBLE FINANCING OPTIONS Financing Options
Evaluating Financing Options Personal Personal Potential Control Risk Reward Personal Resources H HH Financial Institutions (Debt Financing) L - M L L – M Venture Capitalists (Equity-Debt Financing) L – M L L – M Angel Investors (Equity Financing) L – M L L – M Public Offerings Equity Financing) L LL – H Business Development Program L – M L L – M Unusual Sources L – H L L- H L – Low M – Medium H - High
WHAT WE ARE CHOSING LOANS FROM FRIENDS AND RELATIVES- 20 LAKHS(UNSECURED) LOAN FROM FINANCIAL INSTITUTIONS -40 LAKHS(SECURED AGAINST THE BUSINESS ITSELF) INTEREST: 6% annual rate from friends and relatives 12% annual rate from bank
ISO 9000-the only available internationally accepted standard for quality management system
Applicable to all kinds of organization of industries in manufacturing or service sector.
Systematic standardization and certifications
That allows complete freedom on selection and use of processes and framing of operating procedures an work instructions
PROCESS FLOW CHART Place order Give the order to chef Get drinks for customer Deliver salad or soup order to customer Deliver dinner to customer Deliver check to customer Cash Bring change to customer Cash or Credit Credit Return credit slip to customer Close table and collect tip Collect signed slip