A REPORT ONPHOENIX IN BBSR PRESENTED BY: SUBODHA CHOUDHURY(11KB008) SATYABRATA PRADHAN(11KB009) KRUPAJAL BUSINESS SCHOOL BATCH.NO:-2011-13
Executive Summary:� The night club will be located one block away from the main campus.� The area already has three bars that have been thriving for the past 10 years.� Each establishment has long lines waiting for entry each weekend.� Recently, commercial space has become available next to the campus when two adjacent business relocated.� The Spot will consolidate this space into a 5,000 square foot night club.� The location is on the main street most often used by students.
COMPANY ANALYSIS:GOALS:� Providing exceptional service to patrons on a consistent basis makes a positive lasting impression that creates repeat-- and increased--business.� Providing guests with quality foods, beverages and entertainment atmosphere. An effective way to estimate fair, profitable pricing and favourable offerings is to research our demographic.� Provide a safe environment possible to avoid incidents of theft, violence, injury or fatalities within the establishment.
FOCUS:� provide better quality of food & beverages.� aiming on every class of people.� To maintain good relationship with customers.MISSION:� The mission of the Spot is to create a nightclub environment that satisfies the changing tastes and expectations of our core customers; i.e. college-age women. If the women come, the men will follow.VISSION:� Provide exceptional service that leaves an impression with our core customers.� Consistent entertainment atmosphere and product quality.
CUSTOMER ANALYSIS:� Number:- Around 75 to 100� Types :- Couples, stags.� Value driver:- For couples this is Rs1000, for stags it is Rs500.� Concentration of customer base for particular product:- A larger ladies room area- we will add additional square footage to this part of the venue including a couch, TV, music. Music- This is a critical one. We will hire DJs who have the best satisfaction rate with the customers.
SWOT ANALYSIS:-Strengths:� Transportation- we will be providing shuttles for students or those who do not have a way to get to our establishment.� Location- will be in a location that has very few competitors and a lot of young, college students ready to party.� Appearance- will be attractive and classy; setting it apart from other venues.� Drinks/ Service- there will be a large variety of alcohol and refreshments for our customers to choose from. We will also be providing excellent customer service.
Weakness:� Finances- since we are a new business we will have it rough financially for the first few months. This is due to all of the payments we will be making to establish BBSR Night Club.� Our nightclub has little market presence or reputation.� We have a small staff, with a shallow skills base in many areas.� Our cash flow will be unreliable in the early stages.
Opportunity:� Local Artists- will have chances to perform at our club. By inviting local artists into our business we will save money on hiring big time artists for entertainment. This is an opportunity for the performer as well as a money saving opportunity for us.� Celebrity promotions and appearances- by having celebrities in our club we will attract more people.� Our business sector is expanding, with many future opportunities for success.
Threats:� Complaints- people complaining about thing wrong in our club will deter others from coming to our establishment over another club.� Competitors- competition is always a threat because they may come up with clever ways on how to bring in more customers.� Liabilities- if there were to be an accident to occur on our property we could possibly be sued and shut down.
PEST ANALYSIS� Political Factors: Political factors deal with the degree to which the government influences and controls businesses. For a nightclub, the most important factors will be to provide safe environment. A nightclub will be affected by factors that affect other businesses as well, such as tax rates and labour laws.� Economic Factors: Economic factors are extremely important to a nightclub. This is because nightclubs are a luxury, not a necessity; people must have the disposable income to spend at pub. Economic growth is, therefore, extremely important for nightclub. A nightclub will also be affected by the economic factors that affect most businesses such as the cost of capital and inflation
� Social Factors The social factors of a market will have a huge impact on a business. ◦ For example, in a very health-conscious market, a nightclub should offer quality beverages. Another important social factor is the attitude that people have toward nightclub; a nightclub stands a much better chance in a market where people prefer to eat out than in one in which people prefer to stay at home.� Technological Factors In general, the nightclub is a low-technology industry. If there are strong technological demands in a market, this may make it difficult to enter the market. ◦ In the nightclub industry, specialized equipment is the largest technological factor. For example, the lighting systems & higher quality of music system.
Market Segmentation� Young Professionals We appeal to single adults and young Professionals-- couples seeking to interact through the social arts and socializing.� Young professional customers will range in age from 21 to 41.� The venue will appeal to this category by switching the tempo and entertainment to be more appealing to adults as it gets later into the evening.� A new 120-unit residential building is under construction directly across the street from the venue, expected to open in Summer 2004.� Additional housing developments are undergoing construction throughout the downtown vicinity.� This increased population will provide greater foot traffic in the area.
CONT...� College Students Students--By creating an environment that is appealing to college students, we secure a natural progression between the high school student and the young professional.� The venue is in close proximity to IIPM College, UTKAL UNIVERSITY and PANTALOON,BIGBAZAR,RAM TEMPLE.
CONT..� Senior Citizens Citizens--10% of the Santa Cruz County population is represented by senior citizens.� Music events, swing dancing, and course offerings will be scheduled during the early afternoon hours, appealing to the senior citizen population.
� The following chart and table outline the target market segments for the venue, including annual growth projections, which we estimate at 2%.� We conservatively estimate our target population at 200,000 people.� Our sales projections are based on a percentage of this target population.
PROMOTION� Advertising: The days of simply printing up flyers, spending money on radio, and placing ads in newspapers and magazines to draw a crowd are over.� Promotional programs: We see a lot of bar and nightclub promotions come across our desks, and we know that while proper planning and clear communication are vital to any program’s success, creativity is what draws a crowd, sells drinks and grows overall sales for any venue.