After researching our target audience and our competition, we have effectively come to realize we have areas of improvement. We must become more knowledgeable of how our competition is doing and what we can learn from their mistakes so we do not make those same ones. For example, we already have the lead on Buffalo Wild Wings because we can attract the health conscious audience with our “light” menu. We also need to fully understand consumer’s attitudes about sports bars. Not all sports fans enjoy being around the obnoxious and loud people, and we give them a place to go to enjoy the game more elegantly. However, we are constantly fighting to increase our sales and our market share. Since we are still not as well known as Buffalo Wild Wings and Champps, we have to fight to get the attention of loyal sports fanatics. That being said, we have a large opportunity for growth among younger demographics. Since we have such an interactive site, we have the ability to reach those that are addicted to the Internet. Table and Cheers is currently trying to reach the target market of young professional sports enthusiasts ranging in age from 15 to 40. Since we are offering a sports stadium suite style environment, we can expect that those who have a passion for a great sports atmosphere will be happy, but one key selling point about table and cheers is that we also offer gourmet cuisine. If that were not enough, we also have sports celebrities visiting with customers in the interactive atmosphere.
The competition in the restaurant industry is fierce. With the many different restaurant options, to people staying home and cooking, we needed a way to stand out. Our most obvious competitors include sports bars such as, Buffalo Wild Wings and Champps. Regular bars are also high competitors. Casual dining is also a competitor of ours, including Outback Steakhouse, Applebee’s, Chili’s and TGI Fridays. One that might not be so obvious includes fast food chains. Finally, we must compete with the sports stadiums themselves. When analyzing and researching the competition, we cannot forget all that we have to offer. Having an elegant environment and a diverse menu help us to stand out amongst the best.Currently being our top competitor who advertises nationally, Buffalo Wild Wings is known for the “best place” to watch live sports, drink great beer and eat good wings and also it’s exciting, fun and playful environment. Although a more popular brand, Tables & Cheers can take advantage of the fact that Buffalo Wild Wings does not serve a low-calorie or healthy section, and the majority of the items on their menu are unhealthy types of food. Buffalo Wild Wings has established a partnership with NCAA men’s basketball tournament, but Tables & Cheers can focus on partnerships with specific sports organizations and well-known athletes around the country and add a more personalized feeling to dining at the restaurant.
Since all of the 15 locations are within the midwest, we could not think of a better group to collaborate with than the Big Ten division of the National College Athletic Association. For example, each restaurant would have flags of all Big Ten schools on the outside of the restaurant, but when stepping inside, people would get a vibe of a single Big Ten team and personalized restaurant matched with their location (University of Illinois - Chicago, Ohio State - Cincinnati/Cleveland, etc.) This could help the company gain brand loyalty especially college athletic enthusiasts, and by word-of-mouth, Table and Cheers could eventually become the “it” place to watch sports games.In order to establish a genuine relationship between fans and to increase trust and sales, increasing our PR reputation amongst a famous foundation will be most effective. The partner we have chosen is The V Foundation for Cancer Research, which was formed by ESPN and Jim Valvano, a legendary college basketball coach who passed away from cancer. Having the Table & Cheers name associated with such a renowned sports organization as The V Foundation and one of most recognizable figures in sports Jim Valvano, our restaurant name will apply to a dynamic section of our target market and attract memorable sports enthusiasts.
As shannon explained we really want to utilize the big ten network to increase our brand awareness and customer loyalty. A few ways we plan on doing this is through special promotions and events that will help create a loyal fan base. For example, jersey night. You wear your team jersey on a designated jersey night and get a dollar off a beer. We are also hoping to be able to offer a ticket stub program where you bring in your big ten ticket stub and receive a discount.
As of 2012 96% of people engaged in cellphone usage, 93% engaged in using the InternetAdults spend on average at least an hour a day watching television
(Company Goals) – Table & Cheers’ main goal is to promote value and to increase the awareness that we exist. We can achieve this through our lead medium of television and our support medium of social media. We want to show that we are a sophisticated sports bar, very similar to a fancy box at a game. We also need to increase our sales, which we can measure throughout the year. Promoting the fact that we are family dining friendly is also important. When people realize that we are a sports bar yet are suited for all ages, they will feel more apt to come by and check. Finally, we would like to expand the brand beyond the Midwest region. This will help increase sales, create job opportunities in those areas, and create growth as a company.
In order to get people through the door and into our restaurant, advertising space has been purchased to help pull through the clutter and expand the overall awareness. We will be using television as our main medium and running thirty-second spots in order to promote brand recognition throughout the country. Utilizing our interactive website where guests can interact with various sports celebrities allows for collaboration between fans and their icons while encouraging famous guest appearances. We have also invested in digital mediums to help showcase our environment and well prepared food. The Internet is a huge part of everyone’s daily life, and having a site that such as ours helps our guests feel as though they are a part of the Table & Cheers team. Broadcasting, digital and mobile media advertising will help us to accomplish this.
We chose 3 different mediums to reach our target audience. Our lead medium is television and we also have two support mediums of digital and mobile. We chose these three based on our research supporting the idea that these are the best mediums to reach our target market as Shannon explained. While television is pricey, our other two mediums are relatively inexpensive, and that will show in our budget
In researching our different mediums, we realized the best approach would be to use a continuous schedule for television because this medium will best be able to portray our special environment which is one of our big selling points. We decided it was best to air our ads on primetime television on relevant programs, and while this is more expensive we think it will reach our target.For our digital marketing we are using search engine marketing and social media banners which are all pay per click
IntroAccount Manager: Paige Dwyer -client relations, company goals, and marketing goals.Creative Director: Nick Hintz -types of media outlets, advertising mediumsMedia Buyer/Planner: Kelsey Strachan -tactics, positioning, set budget, allocated fundsResearch Coordinator: Shannon Cardeno -primary and secondary research
The Current Situation Ages 25-40 Enthusiastic fans of sports Sport’s stadium suite environment Gourmet cuisine Low calorie options Sport’s celebrities Interactive atmosphere
SWOT S: Wide range menu, stadium suite like environment W: potential for inconsistency, only located in Midwest region O: expanding, ethnically diverse menu T: economic condition, competition prices
Team Players V Foundation Work with the NCAA Big Ten Midwest emphasis Location specific events and promotions
Promotional Opportunities Interactive environment Jersey nights Special deals
Secondary Media Tech Survey, May 2012 96% - Cell phone usage 93% - Internet usage eMarketer, June 2012 Adults watch television for large volumes of time eMarketer,2012 Online/mobile video viewing +25 million people by 2015