1. The document provides strategies for hospitality businesses to increase revenues and decrease costs to improve profits. It discusses 21 strategies for increasing sales and revenues such as focusing on customer satisfaction and marketing directly to past guests.
2. The document also discusses 17 ways to decrease costs like conducting energy audits, benchmarking financials against competitors, and decreasing inventory.
3. Managing cash flow, debtors, and focusing on more profitable products/services are emphasized as important strategies for both increasing profits and maintaining a healthy business.
Putting real effort into making your clients and customers feel special can have amazing rewards for your business.
Learn how to make your clients feel truly valued.
Would you apply principles of FMCG marketing to restaurants ?
Would you want to blow your precious money on mass media ?
Would you settle for a below par ROI on your sales & marketing expenditure?
YesDiner - Digital Solution for Restaurant MarketingYesDiner
YesDiner, a powerful suite of innovative Digital Marketing Solutions crafted by eBEYONDS for restaurants, helps them have a fully-baked digital presence leading to more sales, greater diner loyalty, better brand image, and sustained high performance over the long run.
Ready to Serve_Jackson Hole Mountain Resort_manager versionCathi Hight
Customized customer service training for Jackson Hole Mountain Resort based on the Ready to Serve training program. Features 3 strategies managers should employ to create a Ready to Serve culture and the 10 Customer Service Commandments
This document provides guidance for starting a food business or restaurant. It discusses important considerations like whether to pursue a franchise or develop an original concept, how to choose a location, and how much profit to expect. The key steps outlined include deciding on a concept, location, design, menu, costs, financing, licenses, and insurance. While challenging, starting a food business can be exciting if you are passionate and prepared to work long hours, especially in the first few years as most restaurants fail within that time period due to poor planning. This guide aims to help new entrepreneurs succeed in the food industry by explaining the initial steps to take.
To improve sales and customer service, travel agents should focus on selling the experience of destinations rather than just facts, train employees daily for 10 minutes on relevant topics, and make customers feel appreciated through small gestures like using their names. Agents should also keep their office clean and organized to create a welcoming environment for customers.
If you own or manage the marketing for a Restaurant or Food Service Business, this is a presentation you cannot afford to miss.
Discover the biggest Restaurant Marketing Mistakes being made, and how you can avoid them.
Batti Express Gifts is an online gift shop and e-commerce organization based in Batticaloa, Sri Lanka. It was founded in 2015 and has grown to become the largest e-commerce company in Batticaloa District. The company offers a wide range of gift items for online purchase and delivery as well as local delivery and courier services. Batti Express Gifts aims to provide excellent customer service and expand its operations across Sri Lanka.
Putting real effort into making your clients and customers feel special can have amazing rewards for your business.
Learn how to make your clients feel truly valued.
Would you apply principles of FMCG marketing to restaurants ?
Would you want to blow your precious money on mass media ?
Would you settle for a below par ROI on your sales & marketing expenditure?
YesDiner - Digital Solution for Restaurant MarketingYesDiner
YesDiner, a powerful suite of innovative Digital Marketing Solutions crafted by eBEYONDS for restaurants, helps them have a fully-baked digital presence leading to more sales, greater diner loyalty, better brand image, and sustained high performance over the long run.
Ready to Serve_Jackson Hole Mountain Resort_manager versionCathi Hight
Customized customer service training for Jackson Hole Mountain Resort based on the Ready to Serve training program. Features 3 strategies managers should employ to create a Ready to Serve culture and the 10 Customer Service Commandments
This document provides guidance for starting a food business or restaurant. It discusses important considerations like whether to pursue a franchise or develop an original concept, how to choose a location, and how much profit to expect. The key steps outlined include deciding on a concept, location, design, menu, costs, financing, licenses, and insurance. While challenging, starting a food business can be exciting if you are passionate and prepared to work long hours, especially in the first few years as most restaurants fail within that time period due to poor planning. This guide aims to help new entrepreneurs succeed in the food industry by explaining the initial steps to take.
To improve sales and customer service, travel agents should focus on selling the experience of destinations rather than just facts, train employees daily for 10 minutes on relevant topics, and make customers feel appreciated through small gestures like using their names. Agents should also keep their office clean and organized to create a welcoming environment for customers.
If you own or manage the marketing for a Restaurant or Food Service Business, this is a presentation you cannot afford to miss.
Discover the biggest Restaurant Marketing Mistakes being made, and how you can avoid them.
Batti Express Gifts is an online gift shop and e-commerce organization based in Batticaloa, Sri Lanka. It was founded in 2015 and has grown to become the largest e-commerce company in Batticaloa District. The company offers a wide range of gift items for online purchase and delivery as well as local delivery and courier services. Batti Express Gifts aims to provide excellent customer service and expand its operations across Sri Lanka.
Diana L. Sheets provides her contact information and summarizes her professional experience as a Store Manager and Assistant Store Manager for Stage Stores, Inc. from 2005 to present. She oversees all store operations including policies, merchandising, staffing, and sales goals. She has received numerous awards for her store's performance in areas such as leadership, loss prevention, sales increases, membership enrollments, and visual merchandising. She holds a Bachelor of Arts degree in Business Management from Anderson University.
14 Steps to Branding a Restaurant FranchiseGina Mims
Are you thinking about Franchising your Restaurant or just trying to compete with those who are? It is important to Polish & Perfect Your Entire Concept including Branding, Operations, Space & Team. And more importantly have a Plan to Manage these items for the future.
We work with Start Ups as well as Restaurants wanting to Franchise or Expand. In both situations these recommendations can help serve as a checklist to make sure you are looking at the big picture on a regular basis.
Your business should always be an ongoing process of growth and improvement. Do you have all of the proper pieces in place to take it to the next level?
Restaurant Checklist explores...
1. Concept - Do You Need Improvement on Food, Space, Operations, Etc?
2. Brand Personality - What do you stand for? What do people say about you?
3. Brand Positioning - How are you Unique from your Competition?
4. Brand Collateral Evaluation - Does Your Brand & Graphics Package Need Updating?
5. Target Audience Defined - Who will you serve, what do they need?
6. Logo - Updated to where you want it?
7 Trademark - Have you Trademarked your Name and Logo?
8. URL & Website - Have you purchased all similar urls and updated your website?
9. Marketing Plan - Have you created a marketing plan w/ branded social media accounts? Do have someone in place to manage your marketing efforts?
10. Brand Standards Manuals - Create a Usage Guides for others to Follow.
11. Materials Standards - Materials documented and ready for future locations.
12. Brand Package - All items packaged and available and ready to go the second you find a new location.
13. Operations & Training Manuals - Document all Recipes, Processes & Procedures.
14. Team in Place - Who will help take you to the Next Level?
Coalición will be a lounge and pintxo bar in Seattle offering small Spanish-inspired bites, drinks, and live music. The business aims to create a social atmosphere where customers can enjoy food, drinks, and dancing. It will focus on quality products and good customer service to attract repeat customers. The owner also wants to incorporate a philanthropic element, like donating leftovers or supporting local causes. The business will help fill a gap in the market by providing this unique combination of pintxos, music, and lounge space in an accessible location.
Charlotte Diaz is a Filipino national seeking a position in customer service or sales. She has over 7 years of experience in roles like sales assistant, visual merchandiser, cashier, and beauty consultant. Her experience includes working for retailers in Dubai like Masharee Liwa Trading and Suite Blanco Dubai Mall. She is skilled in customer service, sales, inventory management, and communication. Charlotte holds a Bachelor's degree in Hotel and Restaurant Management.
This document provides talking points and an agenda for Stop & Shop store managers to use in conducting 30-minute engagement meetings with store associates in August 2014. The meetings aim to empower associates to understand their role in helping the store get better every day. Key discussion points include the Plus One initiative to improve store performance incrementally, the Shop Friendly customer service training, e-commerce strategies like Peapod delivery and pickup, the Customer Proposition value initiative, and Simplicity process improvement efforts. Associates are also challenged to create a fun 3-word video or photo capturing how their store or team is getting better daily, with a prize for the best entry.
Simplicity of customer awareness lessons from the roadThomas Cal Brown
The document discusses sensory merchandising and how engaging customers' senses can increase sales. It provides tips for retailers and builders to improve the customer experience in their stores and showrooms. Specifically, it recommends focusing on the visual, sound, taste, smell, and touch senses to attract customers and get them to spend more time and money. Emphasis is placed on having an inviting exterior, properly organized interior flow, regularly updated displays of prominent products, playing engaging music, offering complimentary food/drinks, using pleasant scents, and interactive product displays.
A book by Jeffrey J Fox
Inspired by Native American tradition, the Rainmaker is one who uses his power to bring rain to nourish crops that feed the tribe.
These collection of sales advice shows readers how to pursue, win and maintain potential clients in the market
Ways of staying close to customers- Customer Relationship Management Sempungu Godfrey
1) Staying close to customers is important for businesses. Methods include sending helpful information, notifications about new developments, and valued customer discounts.
2) It is wise to compensate customers for problems, resolve complaints in their favor, and accept returns unconditionally to delight customers.
3) Businesses should also honor customer privacy, keep promises, give feedback on referrals, and keep open lines of communication. Taking these steps builds trust and strong customer relationships.
BUSINESS PLAN ON “CUSTOMIZED GIFT BASKET” EntreprenourshipMubasher Fiaz
Customized Gift Basket is a business that offers customized gift baskets. It aims to create unique baskets using high-quality ingredients from around the world to meet various occasions. The business targets both individual and corporate customers. It will focus on online marketing through websites and social media to promote its wide selection of occasion and holiday-based baskets.
CreativeCorner is an event management and wedding planning company based in Delhi and Punjab that provides services for corporate and personal events such as live shows, celebrity events, product launches, weddings, and more. The company aims to deliver more than client expectations through a team of young, creative professionals. Services include concept generation, venue selection, event design, production, management, audio/visual support, and digital/multimedia concepts. CreativeCorner targets upper middle class and premium individuals, couples, families, businesses, and organizations as they are most able to afford event planning services. The event planning process involves initiation, planning, implementation, control/monitoring, and evaluation stages.
Holiday marketing ideas that won't break the bankOlend Mihali
The document provides 10 low-cost marketing ideas for small businesses to use during the holiday season. These ideas include hosting an open house, rewarding loyal customers, giving a digital presence a holiday makeover, partnering with other local businesses, supporting local charities, offering gift certificates, pitching products for gift guides, showing off brands in everyday settings, exhibiting at holiday shows, and joining Small Business Saturday initiatives. All of these ideas allow small businesses to increase sales and brand awareness without breaking the bank.
The document outlines a vision and business plan for an Indian wine cafe brand called Ivy. It discusses Ivy's brand essence of being passionate, young, fresh, and healthy. It outlines brand values like prioritizing people capability and recognizing employees. It also discusses guiding principles, brand passion, hiring enthusiastic employees, building stores, branding and marketing strategies, supply chain management, financial strategies, and focusing on excellent customer operations.
Stacey Foster has over 25 years of experience in sales, marketing, business development, and customer relationship management. She has a track record of cultivating long-term customer relationships, implementing strategic plans to boost sales and brand visibility, and exceeding service goals. Her skills include account management, product marketing, public relations, and leadership.
- Porcia L. Yetter is an experienced salesperson and customer service expert based in Salinas, CA with over 5 years of experience in retail sales roles.
- She has a track record of success, consistently exceeding sales goals and being recognized as a top performer, including ranking #3 in sales at Macy's.
- Her experience includes seasonal and full-time roles at retailers like Banana Republic, Blackthorne Pools and Spas, Cole Haan, and Macy's, where she utilized her strong communication, customer service, and sales skills.
This document discusses the benefits of using promotional products to advertise versus cheap giveaways. It notes that promotional products consultants can help businesses choose high-quality items that represent their brand well and are appropriate for the target audience and intended purpose. The document also provides research showing that promotional products create more positive perceptions of businesses and increase the likelihood that recipients will do business with or recommend the advertiser. It concludes by outlining six questions businesses should ask to determine the right promotional product for their needs.
This document provides guidance on customer service best practices for organizations. It discusses the importance of customer service, experiences, and loyalty. The foundation of excellent service is an organization's mission, vision, and values. Staff must understand why high customer service is important in order to achieve the organization's goals. The document outlines how to create positive customer experiences and emotional connections through small personalized interactions. It also provides tips for maintaining high service standards, handling complaints, and assessing customer loyalty.
Cheril Kowbel is seeking a full-time position in a positive work environment utilizing over 18 years of retail and customer service experience. She has strong skills in customer service, employee training and motivation, store operations and merchandising according to company standards. Her most recent roles include Assistant Store Manager at Dollar Tree where she assisted in achieving sales goals through leadership, hiring and training associates while adhering to loss prevention policies.
This simple step by step guide will help guide any new entrepreneur looking to embark on a coffee shop venture, covering aspects from selecting your machine to choosing your location.
The document provides tips for resorts and hotels to provide exceptional guest experiences and exceed standard expectations. It discusses the importance of excellent guest service, cross-selling additional services to guests, maintaining cleanliness, providing a variety of activities and entertainment, creating memorable dining experiences, developing a strong brand identity, and regularly updating guest accommodations. The document emphasizes training staff, focusing on small details, and utilizing low-cost strategies to enhance the guest experience.
Running a successful coffee shop necessitates commitment, continual improvement, and a customer-centric mindset. Solicit consumer input regularly and be willing to make changes to meet their changing requirements and expectations. Kumbakonam Degree Coffee is well well-established brand do all these steps you only take a coffee shop franchise and you will get ROI in 6 months. Grow your business and enjoy your economically friendly life.for franchise inquiry https://kumbakonamcoffeeindia.com/coffee-shop-franchise-enquiry/
Diana L. Sheets provides her contact information and summarizes her professional experience as a Store Manager and Assistant Store Manager for Stage Stores, Inc. from 2005 to present. She oversees all store operations including policies, merchandising, staffing, and sales goals. She has received numerous awards for her store's performance in areas such as leadership, loss prevention, sales increases, membership enrollments, and visual merchandising. She holds a Bachelor of Arts degree in Business Management from Anderson University.
14 Steps to Branding a Restaurant FranchiseGina Mims
Are you thinking about Franchising your Restaurant or just trying to compete with those who are? It is important to Polish & Perfect Your Entire Concept including Branding, Operations, Space & Team. And more importantly have a Plan to Manage these items for the future.
We work with Start Ups as well as Restaurants wanting to Franchise or Expand. In both situations these recommendations can help serve as a checklist to make sure you are looking at the big picture on a regular basis.
Your business should always be an ongoing process of growth and improvement. Do you have all of the proper pieces in place to take it to the next level?
Restaurant Checklist explores...
1. Concept - Do You Need Improvement on Food, Space, Operations, Etc?
2. Brand Personality - What do you stand for? What do people say about you?
3. Brand Positioning - How are you Unique from your Competition?
4. Brand Collateral Evaluation - Does Your Brand & Graphics Package Need Updating?
5. Target Audience Defined - Who will you serve, what do they need?
6. Logo - Updated to where you want it?
7 Trademark - Have you Trademarked your Name and Logo?
8. URL & Website - Have you purchased all similar urls and updated your website?
9. Marketing Plan - Have you created a marketing plan w/ branded social media accounts? Do have someone in place to manage your marketing efforts?
10. Brand Standards Manuals - Create a Usage Guides for others to Follow.
11. Materials Standards - Materials documented and ready for future locations.
12. Brand Package - All items packaged and available and ready to go the second you find a new location.
13. Operations & Training Manuals - Document all Recipes, Processes & Procedures.
14. Team in Place - Who will help take you to the Next Level?
Coalición will be a lounge and pintxo bar in Seattle offering small Spanish-inspired bites, drinks, and live music. The business aims to create a social atmosphere where customers can enjoy food, drinks, and dancing. It will focus on quality products and good customer service to attract repeat customers. The owner also wants to incorporate a philanthropic element, like donating leftovers or supporting local causes. The business will help fill a gap in the market by providing this unique combination of pintxos, music, and lounge space in an accessible location.
Charlotte Diaz is a Filipino national seeking a position in customer service or sales. She has over 7 years of experience in roles like sales assistant, visual merchandiser, cashier, and beauty consultant. Her experience includes working for retailers in Dubai like Masharee Liwa Trading and Suite Blanco Dubai Mall. She is skilled in customer service, sales, inventory management, and communication. Charlotte holds a Bachelor's degree in Hotel and Restaurant Management.
This document provides talking points and an agenda for Stop & Shop store managers to use in conducting 30-minute engagement meetings with store associates in August 2014. The meetings aim to empower associates to understand their role in helping the store get better every day. Key discussion points include the Plus One initiative to improve store performance incrementally, the Shop Friendly customer service training, e-commerce strategies like Peapod delivery and pickup, the Customer Proposition value initiative, and Simplicity process improvement efforts. Associates are also challenged to create a fun 3-word video or photo capturing how their store or team is getting better daily, with a prize for the best entry.
Simplicity of customer awareness lessons from the roadThomas Cal Brown
The document discusses sensory merchandising and how engaging customers' senses can increase sales. It provides tips for retailers and builders to improve the customer experience in their stores and showrooms. Specifically, it recommends focusing on the visual, sound, taste, smell, and touch senses to attract customers and get them to spend more time and money. Emphasis is placed on having an inviting exterior, properly organized interior flow, regularly updated displays of prominent products, playing engaging music, offering complimentary food/drinks, using pleasant scents, and interactive product displays.
A book by Jeffrey J Fox
Inspired by Native American tradition, the Rainmaker is one who uses his power to bring rain to nourish crops that feed the tribe.
These collection of sales advice shows readers how to pursue, win and maintain potential clients in the market
Ways of staying close to customers- Customer Relationship Management Sempungu Godfrey
1) Staying close to customers is important for businesses. Methods include sending helpful information, notifications about new developments, and valued customer discounts.
2) It is wise to compensate customers for problems, resolve complaints in their favor, and accept returns unconditionally to delight customers.
3) Businesses should also honor customer privacy, keep promises, give feedback on referrals, and keep open lines of communication. Taking these steps builds trust and strong customer relationships.
BUSINESS PLAN ON “CUSTOMIZED GIFT BASKET” EntreprenourshipMubasher Fiaz
Customized Gift Basket is a business that offers customized gift baskets. It aims to create unique baskets using high-quality ingredients from around the world to meet various occasions. The business targets both individual and corporate customers. It will focus on online marketing through websites and social media to promote its wide selection of occasion and holiday-based baskets.
CreativeCorner is an event management and wedding planning company based in Delhi and Punjab that provides services for corporate and personal events such as live shows, celebrity events, product launches, weddings, and more. The company aims to deliver more than client expectations through a team of young, creative professionals. Services include concept generation, venue selection, event design, production, management, audio/visual support, and digital/multimedia concepts. CreativeCorner targets upper middle class and premium individuals, couples, families, businesses, and organizations as they are most able to afford event planning services. The event planning process involves initiation, planning, implementation, control/monitoring, and evaluation stages.
Holiday marketing ideas that won't break the bankOlend Mihali
The document provides 10 low-cost marketing ideas for small businesses to use during the holiday season. These ideas include hosting an open house, rewarding loyal customers, giving a digital presence a holiday makeover, partnering with other local businesses, supporting local charities, offering gift certificates, pitching products for gift guides, showing off brands in everyday settings, exhibiting at holiday shows, and joining Small Business Saturday initiatives. All of these ideas allow small businesses to increase sales and brand awareness without breaking the bank.
The document outlines a vision and business plan for an Indian wine cafe brand called Ivy. It discusses Ivy's brand essence of being passionate, young, fresh, and healthy. It outlines brand values like prioritizing people capability and recognizing employees. It also discusses guiding principles, brand passion, hiring enthusiastic employees, building stores, branding and marketing strategies, supply chain management, financial strategies, and focusing on excellent customer operations.
Stacey Foster has over 25 years of experience in sales, marketing, business development, and customer relationship management. She has a track record of cultivating long-term customer relationships, implementing strategic plans to boost sales and brand visibility, and exceeding service goals. Her skills include account management, product marketing, public relations, and leadership.
- Porcia L. Yetter is an experienced salesperson and customer service expert based in Salinas, CA with over 5 years of experience in retail sales roles.
- She has a track record of success, consistently exceeding sales goals and being recognized as a top performer, including ranking #3 in sales at Macy's.
- Her experience includes seasonal and full-time roles at retailers like Banana Republic, Blackthorne Pools and Spas, Cole Haan, and Macy's, where she utilized her strong communication, customer service, and sales skills.
This document discusses the benefits of using promotional products to advertise versus cheap giveaways. It notes that promotional products consultants can help businesses choose high-quality items that represent their brand well and are appropriate for the target audience and intended purpose. The document also provides research showing that promotional products create more positive perceptions of businesses and increase the likelihood that recipients will do business with or recommend the advertiser. It concludes by outlining six questions businesses should ask to determine the right promotional product for their needs.
This document provides guidance on customer service best practices for organizations. It discusses the importance of customer service, experiences, and loyalty. The foundation of excellent service is an organization's mission, vision, and values. Staff must understand why high customer service is important in order to achieve the organization's goals. The document outlines how to create positive customer experiences and emotional connections through small personalized interactions. It also provides tips for maintaining high service standards, handling complaints, and assessing customer loyalty.
Cheril Kowbel is seeking a full-time position in a positive work environment utilizing over 18 years of retail and customer service experience. She has strong skills in customer service, employee training and motivation, store operations and merchandising according to company standards. Her most recent roles include Assistant Store Manager at Dollar Tree where she assisted in achieving sales goals through leadership, hiring and training associates while adhering to loss prevention policies.
This simple step by step guide will help guide any new entrepreneur looking to embark on a coffee shop venture, covering aspects from selecting your machine to choosing your location.
The document provides tips for resorts and hotels to provide exceptional guest experiences and exceed standard expectations. It discusses the importance of excellent guest service, cross-selling additional services to guests, maintaining cleanliness, providing a variety of activities and entertainment, creating memorable dining experiences, developing a strong brand identity, and regularly updating guest accommodations. The document emphasizes training staff, focusing on small details, and utilizing low-cost strategies to enhance the guest experience.
Running a successful coffee shop necessitates commitment, continual improvement, and a customer-centric mindset. Solicit consumer input regularly and be willing to make changes to meet their changing requirements and expectations. Kumbakonam Degree Coffee is well well-established brand do all these steps you only take a coffee shop franchise and you will get ROI in 6 months. Grow your business and enjoy your economically friendly life.for franchise inquiry https://kumbakonamcoffeeindia.com/coffee-shop-franchise-enquiry/
The current situation forces us to rethink the business model within Food & Beverage, the way processes are designed and the way our long-term strategies are setup.
This doesn’t change the fact that in the meantime we are still uncertain what will be possible and when it will be possible. What will the situation be a month from now? What about three months or a year? What will the hospitality industry look like next year? Some changes will be short-term focused, other will remain. What we do know for sure is that, at least for the short term, we will have to deal with social distancing within everything we do. This in itself already seems to be a Herculean task, but fear not!
I would define ‘Customer Experience’as:
‘How customers or prospective customers perceive their interactions with your organisation’
Customer experience encompasses every aspect of an organisation’s offering - the quality of customer care, of course, but also advertising, packaging, product and service features, ease of use, and reliability.
How can you drive a consistently good and improving Customer Experience for your customers or prospects?
In this A to Z I’ll give you some of the answers and some tips from Oak Consult
The document discusses considerations for opening a restaurant, including planning, organizing, leading, and controlling aspects. Some key points covered are developing a business plan, choosing a location and target market, creating a menu, obtaining funding, and understanding safety regulations. Market research, building a financial model, and determining necessary sales volumes to cover costs are also emphasized as important planning steps.
Have your customer service representatives started talking politely? Has the call time taken to successfully deal with a customer reduced? Have your started taking the customer complaints seriously?
The webinar covered strategies for running a daily deals business internationally, increasing merchant conversion rates, and forming strategic partnerships. Tips included accounting for different commission structures, customs, and languages abroad, innovating deals beyond discounts, focusing on merchant satisfaction, and partnering with complementary local businesses.
Get a merchant to offer a discount on their product or service and proceed to market that discount to their audience for a set period of time or until the offer sells out. The primary sales and persuasion triggers that daily deal and coupon websites typically use is urgency, scarcity, and convenience.
Monica Or from Star Quality Hospitality Consultancy presents a Masterclass on "How to Turn around a Failing Business" - based on her model in her book "Star Quality Hospitality - The Key to a Successful Hospitality Business" - An Amazon Best Seller
This document discusses the importance of luxury, service, and simplicity in the hospitality industry. It emphasizes that outstanding customer service and anticipating guests' needs and desires is key to building customer loyalty and a reputation for excellence. The goal is to focus on the guest experience and go above and beyond guests' expectations through small personalized touches and well-trained staff to promote the business through word-of-mouth. Simplicity executed with grace is highlighted as the way to offer signature class service.
9 tested ways to grow a business start up business opportunitiesventurecare2911
The document provides 9 ways for businesses to grow, including getting more customers from the existing market through competitive pricing and promotions, seeking customer referrals, innovating or modifying products, expanding the market reach through new locations and online presence, participating in trade shows and seminars, targeting niche markets, reducing costs, diversifying products and services, and franchising the business model. The purpose is to offer startup businesses opportunities and strategies to flourish and grow their trajectory through these tested approaches.
The document outlines seven strategies for restaurants to increase traffic and profits in 2012: 1) improve local search visibility, 2) engage with social media, 3) direct mail takeout menus, 4) utilize email marketing, 5) participate in community fundraising, 6) enhance the guest experience, and 7) analyze and update profitable menu items. Implementing these strategies individually can boost sales by $15,000-$150,000 each, but combining multiple approaches will produce the best results for making 2012 a successful year. While restaurants have limited time and resources, working with an outside marketing agency can help implement strategies and yield a worthwhile return on investment.
7 Tips to Increase Your Sales
Read this complete article to know ideas/ about 7 tips to increase sales tip to create loyal customers. These ideas will help you retain your existing customers and create new customers for a lifetime.
The document provides advice for restaurant owners and operators on various aspects of running a successful restaurant business. Some key points include: having a clear identity that differentiates your restaurant; learning cost controls and proper pricing; implementing thorough training programs for all staff; opening only when fully prepared; embracing social media and online presence; focusing marketing efforts more than just saving costs; and partnering with suppliers who can offer valuable resources.
3.1 green lotus how to market and communicate your green credentials_enduanesrt
Workshop on "Responsible Tourism Facing Impacts Of Climate Change" was held by the ESRT Programme on April 4, 2014. This workshop was aimed at raising awareness, building capacity of all stakeholders in tourism industry in order to ensure that tourism develops in harmony with the environment.
This presentation discusses customer loyalty programs and how to build customer loyalty. It defines customer loyalty as behavior of repeat customers and those who provide positive reviews. The presentation outlines 10 main tips to build customer loyalty, which include communicating with customers, providing good customer service, ensuring employee loyalty, offering customer incentives and rewards programs, being reliable, flexible, and knowing customers by name. Customer loyalty programs are valuable as they increase purchase volumes and sales through word of mouth. The presentation evaluates factors like ease of earning and redeeming rewards to engage customers. Building loyalty helps retain customers and increases company growth.
Checklist For Business Owners In An Economic DownturnRobert Brudzinski
The document provides a 20-point checklist for business owners to take action during an economic downturn. The checklist includes recommendations to over-communicate with employees and customers, watch cash flow closely, renegotiate expenses, continue advertising, and maintain a positive attitude. The overall message is that a downturn requires focused action to minimize pain for all stakeholders and position the business for success when conditions improve.
This document outlines the objectives and content of a customer service training class. The key points are:
1) The class aims to help students identify internal and external customers, recognize how attitude affects customer service, identify customer needs, and deal with difficult customers.
2) Customers are defined as both external individuals who purchase products/services, and internal individuals within the organization who rely on support.
3) Good customer service is designed to enhance customer satisfaction by meeting or exceeding expectations.
MKTG 512
–
Marketing Management
Midterm Exam
(Total 100 Points)
Answer All Questions. Each answer to your question requires examples to
support your analysis. Your exam requires you to answer
individually;
this
is not a group work/test. Plagiarism checker should not
attribute your work
to
be more than 10%. If you need help with your writ
ing, check with our
writing department or with me before you submit.
Midterm Exam is due on 10/22/18 at 6 PM (EST). No late submission will
be accepted.
1.
The marketing research process consists of definite set process to help
make decisions. Explain each step
-
in detail with examples.
2.
Explain the purpose of the two complementary
approaches to measuring
marketing productivity. How have you used it in your marketing plan. In
addition, find an example of an organization that has used this approach.
3.
The value chain is a tool for identifying key activities that create value
and cost
s in a specific business. Identify the value chain activities first for
your project and second, explain the concept using an example.
4.
According to one view, holistic marketing maximizes value exploration by
understanding the relationships between the
customer’s cognitive space,
the company’s competence space, and the collaborator’s resource space;
maximizes value creation by identifying new customer benefits from the
customer’s cognitive space. Define and explain this concept. what is the
purpose of u
nderstanding the cognitive part of the customer? How has
Apple or Amazon utilized this concept to their advantage or they have failed
to use this concept?
5.
The corporate strategy establishes the framework within which the
di
visions and business units prepare their strategic plans. Setting a
corporate strategy means defining the corporate mission, establishing
strategic business units (SBUs), assigning resources to each, and
assessing growth opportunities. Explain with exampl
es how this concept
helps an organization with its marketing plan. Describe how you plan to
use this concept in your project.
6.
In the social
-
cultural arena, marketers must understand people’s views
of themselves, others, organizations, society, nature,
and the universe.
They must market products that correspond to society’s core and
secondary values and address the needs of different subcultures within a
society. Use PESTEL to analyze this question, use examples to support
your answers.
7.
In the politi
cal
-
legal environment, marketers must work within the many
laws regulating business practices and with various special
-
interest groups.
How do you navigate this maze? Please use examples of Ford, Apple and
Samsung to answer.
8.
The marketing research proce
ss consists of defining the problem,
decision alternatives; and research objectives; developing the research
plan; collecting the information ...
Similar to Strategies to improve profit a case study of hospitality business by emeka (20)
We live in a contemporary world and what keeps one going is the ability to advance into the trending aspect of today's socioeconomic systems and to upscale for futuristic occurrences. You earn a skill today, and you can always advance in it as the day unfolds. #NMC
This document discusses cleaning and sanitizing food contact surfaces. It defines cleaning as removing soil using detergents, while sanitizing uses heat, radiation, or chemicals to reduce microorganisms. Proper cleaning is essential for effective sanitizing. Common sanitizers include hot water over 80°C for 30 seconds, steam treatments, and chemical sanitizers like chlorine and iodophores. Selection of cleaning method depends on soil type and proper cleaning is needed to allow sanitizers close contact with surfaces.
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Strategies to improve profit a case study of hospitality business by emeka
1. INSIGHT
ON
HOSPITALI
TY
BUSINESS
WAYS TO DECREASE COSTS
INCREASE REVENUES AND
BOOST SERVICE IN HOSPITALITY
INDUSTRY EMEKA
A REVIEW ON WAYSTO EFFICIENTLY IMPROVE HOSPITALITY BUSINESS
Emeka Nnaemezie
2018
2. INTRODUCTION
Running a successful hotel, lounge or restaurant is an ongoing challenge that requires the
combined forces of both management and staff. Policies and Standard Operational Procedures
must be in place to make sure that daily operations run smoothly and all guests are treated well
satisfied. It is fair to say that the primary goal of almost every owner and operator of hospitality
joint is to make as big a profit as possible. To achieve such a goal the focus needs to be on both
revenues and costs. Hospitality firms can boost their bottom line by increasing revenues or
decreasing costs.
Ideally, you want to increase your top line (sales) and decrease your expenses (variable and
sometimes fixed costs) to get the biggest increase in your joints bottom line. Reviewed in this
article are ways that hotels, lounges or restaurants can do better and boost their bottom line
(profit).
Strategies to Increase SalesRevenue andImprove Profit
Once you have identified and measured your key profit drivers, you should develop strategies to
grow them, without increasing costs. Making your business more profitable involves looking at
ways to increase sales revenue as well as decreasing your costs and benchmarking your business
to see where you can save money.
You should also prioritize the strategies you've chosen to improve your profit so you can focus
on the most important ones.
1. Total Quality Management: for an effective cash disbursements and revenue management,
there must be an efficient management system. The owners of hospitality firms should endeavor
to put into consideration those factors that attract customers from the very inception of the joint.
Quality management starts with the environmental outlook of the place, to staff hygiene.
2. Review your 4P's Every Day: Think back to your first marketing class in college when you
were introduced to the four “P’s” of marketing: Price, Product, Promotion and Placement. Take a
mental inventory of these traditional marketing pillars each day to determine what activities need
attention and which ones are already performing at their best:
3. Differentiate your 4P's from your Competitors: Give your guests a reason to choose your
Joint over a joint two blocks or two miles away. You can differentiate your lounge or restaurant
from your competitors on the basis of price, policy and services. Offering discount or promotion
are just a few possibilities. While you do not want to get into a losing battle by dropping your
meal and drink rates 25 percent below your competitor’s rates, you can have a policy where you
are always at or near the lowest rate in town.
3. 4. Make your Employees Happy: In the hospitality industry or any service-oriented industry, it
is particularly important that your employees project a friendly and outgoing attitude toward the
customer. If you make your employees happy by paying them fairly and recognizing them for
their achievements, there is no doubt that they will want to be good ambassadors for your place.
When your employees go above-and-beyond their official duties to help out a guest; that creates
tremendous goodwill and can lead to repeat visits and recommendations. One need be happy to
make another happy.
5. Make Your Guests Feel at Home: Whether your guests are in just for a bottle of water or for
special meals, you should always do your best to make them feel like your joint is their home
away from home. Soften the decor by adding comfortable furniture, flowers, nice scent and
pictures on the wall. Having a lobby and a dining area with comfortable seating areas makes
your joint feel more like a home and less like a sterile hospital room or nondescript office. When
your place is warm and welcoming, people want to come back.
6. Interact with Guests Personally: Guest will take notice when the person at the front desk
calls them by their name. If the manager takes the time to walk around the service area and asks
you how you are enjoying your stay, it makes a difference. It shows that you are important and
not just another face in the crowd.
7. Be Creative, Proactive and Productive: You do not have to always go by the book. If a
guest has an unusual problem, be creative to find a good solution. If you see something not quite
right, be proactive and fix it before it leads to a complaint. Whether it is engaging a customer or
sweeping the floor, a productive employee will help the hotel function more efficiently.
8. Switch from Incandescent to LED Lighting: Switching to LED lighting, which is almost 10
times more efficient than incandescent lighting can, in the long-run, save your joint thousands
and thousands of money in higher electric bills and the cost of buying and replacing burnt out
light bulbs. Investigate all of your lighting options and see which ones work best for you and
your place.
9. Offer Guests Holiday Treat: During the holidays, many guests would love to have a holiday
environment and service that will give them the feel of the festivity. You can charge extra for
special holiday treats with fully decorated serene or you might offer guests a family or group
bouquet or buffet service. When guests leave, they can take away to-go meals with customized
container and bag as advert.
10. Market Directly By Contacting Your Guest: Keeping in touch is always a good way to
reach out to past guests and encourage them to stay with you again. Today, social media sites,
smartphones and many other types of technology, make it easy to talk to your past and future
guests.
11. Focus on Added Value: Guests are usually willing to pay more if they feel like they are
getting more value. Actual value is not as important as perceived value. If a guest feels the
“extra” you are offering, they drop tips and patronize service charge. Free candies and nuts is a
way to start.
4. 12. Focus on Customer Satisfaction: Improve your customer service and develop a staff
training program. The customer is always right is not just a catchy phrase, but also, one of the
most fundamental rules of the hospitality business. If your guests are satisfied, it will pay
positive dividends. On the other hand, if you upset a guest, that will come back to haunt you
negatively and the loss of a paying customer. Getting the order rightly and serving chilled drinks
always keeps your customers glued and attract new guests.
13. Do an Energy and Utility Audit Periodically: Periodic energy and utility audit can identify
areas where you are overspending. Check everything that uses electricity, gas or other fuel; Use
of water. You will see where you are spending the most money and can make adjustments to
lower your overall expenses.
14. Host Business and Private Functions: If you have the space, put more emphasis on using it
to host business gatherings, reunions or other social events. You can do everything from hosting
group gathering to being the venue for a wedding or other social ceremony.
15. Focus Your Marketing on Your Most Important Customers: Statistics show that 20
percent of restaurant customers account for 80 percent of their revenues. An understanding of
your most spending and regular clients gives you direction to your marketing point. If you have
large corporate customers or do a lot of business with corporate organization, it makes sense to
give more direct attention in your marketing campaign to those very important customers.
16. Encourage Guests to Refer New Customers: When you have satisfied guests, they can be a
great source for new customers. Word of mouth has been regarded an efficient tool in marketing
hospitality joint. Encourage guests to refer friends and family to stay at visit your joint by giving
them various incentives like a meal discount, free dinner, or perhaps, a gift card.
17. Network with Other nearby Businesses: Networking with other area businesses that tend to
attract masses and tourists (amusement parks, museums, hotels, corporate offices…) increases
revenue for the joint and the business partner, and at the same time, benefits the customer.
18. Encourage All Employees to Be Salesmen: If your employees are happy, they will be
happy to talk positively about your joint. In addition to relating positively to guests they
encounter, you never know when they will encourage a friend or family member to visit and
patronize you. Don’t ignore your employees. They are your most valuable asset. They act as
benchmark ambassadors when get insensitive such as service charge.
19. Add Some Entertainment: Give your guests a little something extra to look forward to with
some free or inexpensive entertainment. You could have a local musician play his guitar or have
Bongo at 7:00 pm in the open.
20. Provide Outstanding Service: Always meet or exceed expectations and you will have
happy guests. Maintaining, and improving quality standards and implementing of standard
operating procedure would always place your joint on the standout and bespoke.
5. 21. Reward Employees for Good Contributions: If an employee comes up with a good idea
that will help generate more revenue or lower expenses for your hotel, recognize and reward that
employee. When employees know that they are appreciated, they will continue to work hard and
look for ways to improve the business.
22. Add and Refresh Your Menu Periodically: Develop new product lines - survey your
customers about new products. New things are always attractive.
CONCLUSION
If you remember to follow the rule of “people first, then money, then things,” you will be well on
your way to running a successful hospitality outfit. Your guests and employees come first. Then
you need to manage revenue and costs. Finally, you can reap the rewards of your hard work by
taking a nice vacation in an exotic hotel in the South Pacific and have your eligible staff manage
things.
Strategies to DecreaseCosts
1. Decrease inventory - stock control is a good way to streamline your business.
2. Decrease direct costs - make sure you have the right suppliers for your business and negotiate
for better prices or discounts for buying in bulk.
3. Decrease indirect costs - for example, try to minimize waste and errors in your business by
training staff, or reduce marketing costs by using low-cost marketing techniques
4. Decrease overheads - for example, save energy wherever possible or try find to a cheaper
energy supply system.
5. Benchmark key financials - benchmarking your business helps you compare your costs (like
rent and utilities etc.) to similar businesses in your industry to see if you are paying too much.
Summary
1. Focus on your more profitable items: Your products or services with the highest gross profit
margin are the most important to your business, as they generate more money. Once you have
identified your most profitable items you should concentrate on achieving higher sales targets for
them. This may require you to rethink aspects of your business or to devise strategies for
improvement. Consider using a business adviser to help you.
2. Managing cash flow: Your cash flow is the money you have coming in from revenue and
going out for expenses. Good cash flow management will ensure you always have money
available for paying your expenses when they are due. Even profitable businesses can fail if cash
flow is not managed properly. If you don't have enough money available to pay your lenders or
suppliers, banks may foreclose and suppliers could cut supplies.
6. There are many areas in your business that can impact on your cash flow. It is important to
understand how customer payment terms, supplier payment terms, loan payments, future
spending decisions and other items can affect your cash flow.
This guide will help you to manage your cash flow and understand how to use cash flow analysis
to inform business decisions.
3. Managing debtors: Debtors are people or businesses who owe you money. Proper
management of your debtors will help you get paid faster and prevent bad debts. Prompt
collection of debtors' accounts will also help you maintain a healthy cash flow.
Giving your customer an invoice or bill after they have supplied a product or service is a way of
offering credit, since you have to wait for the payment. By giving your customers time to pay for
goods or services already delivered, you are making it easier for them to make purchases. This
will increase sales, but will reduce the cash flow critical to your business.
Managing debtors is often referred to as credit management, and includes:
collecting debts on time
setting credit limits and payment terms
making credit applications and credit checks
enforcing a clear credit policy
considering debtor finance.
Debt management also involves keeping debtor records - this is a legal tax requirement. There
are also laws governing how you are allowed to follow up debts with your customers.