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Tomorrow's Bar
- 2. HTM 2121 TOURISM ANDHOSPITALITY MARKETING Group Project Food and beverage operation in TST East Molecular Gastronomy Bar Tomorrow’s Bar Candy Ma 11076006D Matthew Ng 11186013D Ida Hung 11010000D Yvonne Chan 11072109D
- 3. Overview External Implementation Marketing Environmental milestone budget Analysis Marketing Mix Marketing Opportunity and Strategies and controls Threats Programs Internal Target Market Environment Analysis Analysis
- 4. External Environmental Analysis Demographic trends Economic Technological trends trends Ecological Political-legal trends trends
- 5. Demographic trends aged15-35 half of total HK population total of 17,032 population in TST East in which 79.5% of them is aged between 15 to 64 median monthly domestic household income is HK$ 21,000. Census and Statistics Department of The Government of the Hong Kong Special Administrative Region. (2012). Table: Summary Statistics of Constituency Areas in Yau Tsim Mong District, 2006.
- 6. Ecological trends Food supply will not food waste issue :50 be able to meet tons waste/year demand by 2050 Cathy. (2009). Food waste in restaurant. Retrieved from http://www.greenecoservices.com/food-waste-in-restaurants/
- 7. Economic trends GDP of Hong Kong for the increased 3% in 4th quarter of 2011 Consumer Price Index (CPI), the overall consumer prices raised by 6.1% in January 2012 >40% of households in HK. medium and high expenditure ranges, increased 6.3% and 6.4% respectively Census and Statistics Department of The Government of the HKSAP. (2012). Table 200: Selected Industry Averages and Analytical Ratios in the Industry Sections of Import/Export, Wholesale and Retail Trades, and Accommodations and Food Services.
- 8. Technological trends Introduce new cuisines Internet users (per 100 spend 70% on a regular basis, people) in Hong Kong discretionary observe customers’ was last reported at expenditure on leisure eating habit, discover 69.26 in 2010 new target customers Kattiyapornpong, P. (2009). Profiling Generation Y- Where do they travel. Journal of Travel Research. (3-6)
- 9. Political-legal trends Apply Declaration through the Department of Food and Environmental Hygiene (DFEH) Apply Liquor Licence and Club Liquor Licence Liquor Licence from the Liquor Licensing Board (LLB) Amended Smoking (Public Health Ordinance (Cap. 371) Centre for Food Safety (2012), Food and Environmental Hygiene Department, HKSAR, Part V of the Public Health and Municipal Services Ordinance (Cap. 132).
- 10. Competitors Bo Innovation • Similar products and service 廚魔 • Same customers Aspasia • Location: TST Other • The Krug Room Competitors • Caprice Aspasia. (2010). Retrieved from http://www.tripadvisor.com/Restaurant_Review-g294217-d918027-Reviews-Aspasia- Hong_Kong.html
- 11. Opportunity and Threat • Increased conscious in the trend of Molecular Gastronomy Opportunity • Increasing Income of GDP • Increasing concern of food shortage • Lack of technology in HK Threat • Various competitors
- 12. Internal Environment Analysis Tomorrow’s Bar Mission Objective Resources
- 13. Mission Target Tomorrow’s Bar Theme Opening hours Customer • a cross- • white-collars • from cultural of • aged 18-35 11:30a.m. to Molecular 15:00p.m Gastronomy • 7:30p.m. to with Eastern 3:00a.m and Western • Everyday style. • located in TST East
- 14. Objective Performance- Short-term Long-term maximizing objective • To establish positive • To become the • expected to be public image within famous superior market-stimulated 1-3 years in HK. restaurant in Hong with a high degree of • To gain a year-on- Kong in the coming uncertainty about year 10% sales 10 years. their ultimate market during first five • To develop a good potential. years. public relation with • emphasizing unique • To increase market the customers in the products and share by 15% after 3 society within 10 services to increase years. years. its competitive • To retain 5% of the advantages and to customers/year. enlarge its market share
- 15. Resources • Top Chefs Human • Talented Managers Resources • Training courses for employees • Non-monetary reward Morale • Keep in high level Capital and • Obtain bank loan • Maintained regularly Machine • Monitored raw material
- 16. Target Market Analysis Target Characteristics Needs customers of customers • Aged 18-35 • Non- • Facing huge • White-collar pecuniary work employees rewards pressure • In TST East • 35% • Want to relax motivated by after work social needs • Join club or bar
- 17. Marketing Mix Strategies Positioning Creative and innovative Middle class Advanced business man as techonology target customers
- 18. 4Ps Price Marketing Promotion Mix Product Strategies Place
- 19. Price Method • Price rangeis set between HK$200 to HK$500 per dish, which is higher than ordinary food • Send a message to prestige-conscious consumers • Continue to associate these values with the product Strategy • Planned to implement market skimming as its pricing approach • Recoup the investment involved in product development
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- 21. Place Location Decoration Private Rooms • TST East • Relaxing • rectangular form • Upper floor • Comfortable • grid pattern • dim lights • side by side with • candles on table sofa and cushions • home-away- from-home sense of feelings
- 22. Promotion Advertising Personal Public selling Promotion Relations Sales promotion
- 23. Advertising Mobile TV Programme application Websites • Invite several • providing the • official website famous bar’s menu, in multiple gourmets (e.g. transportation languages Tao Tao) to taste information and • FaceBook through special offers • Yahoo! and Television • Game: creating Googles programmes new forms of • will be molecular broadcasted at gastronomy by night period users
- 24. Public Relations Promotional event •Planned to hold a public event in the plaza • Demonstrate the cooking process of various types of dishes and audiences will be invited to taste the dishes • Provide the theme night every Friday Teaching class • The first 100 customers will be invited to a teaching class • The Chef Executive of bar will teach them • Making the unique style and taste of dishes
- 25. Sales Promotion Sales Promotion •ProvideVIP cards •Consume more than $1500 in bar •Enjoy 85% discount off •First 100 customers can get the VIP card for free
- 26. Implementation Milestones Milestones Start date End date Budget Who is How to evaluate? responsible? Decorating 1/1 31/3 $750000- 1000000 Person in charge Inspection on every week Recruiting staffs 3/3 17/3 $10000-15000 HR manager Hold the recruitment day Training 15/3 1/5 $30000-45000 Training Work rules test department and role play before the opening TV programme 1/5 31/11 $28888 x 6 = Marketing Compile statistics $173328 department of customers a week after the programme released Mobile application 1/6 31/12 $6000-10000 Marketing Compile statistics department of downloading rate from the system Printed 1/6 31/12 $8000 x 6 = Marketing Questionnaire advertisements $48000 department Promotional event 1/7,1/8,1/9 31/7,31/830 $50000-70000 Marketing Questionnaire each month /9 etc. department Teaching Class 11/7 18/7 $9000-12000 Marketing The popularity department from the joining number Market evaluation 1/8 31/8 $1500/report Marketing Questionnaire department Market research 1/10 31/10 $2000/survey R & D department Analyze the factors related to the business operation
- 27. Marketing budget • Sales forecast: First 10 months the growth slow because of low brand. In year 2, we expect our sales volume will increase further as we should have gradually developed . Expenses Distribution Expenses Distribution 6% 2% Employees 25% salaries 25% Empolyees salaries Maintainers 2% 20% Maintainers expenses expenses Promotion Promotion expenses 15% expenses Food & Baverage expenses 2% Food & Beverage 30% TST East rental fee expenses TST East rental Operational expenses 20% 15% fee sundries Operational 6% 30% expenses sundries 2%
- 28. Marketing controls External Internal Contingency plan • Brand name: • organize a weekly • plan B to adjust the 1) collect the opinions meeting situation 2) questionnaires will • food safety • Discount be conducted half supervision • Set of dinner yearly • menu of the meal 3) professional have to change every marketer will be hired 3-4 months • Financial measures • he quality of the food 1)professional • e advanced auditing company knowledge about the • 2)cash flow will be meal for waiters monitored every month
- 29. Reference list • Arboleya, J. C., Aduriz, A., Lasa, D., Vergara, J., Duch, A., Olabarrieta, I., et al. (2007). Oral presentation. 2nd International symposium on delivery of functionality in complex food systems. University of Massachusetts. Amherst. USA. From the chef's mind to the dish: How a scientific approach can help to make the way easier. • • Aspasia. (2010). Retrieved from http://www.tripadvisor.com/Restaurant_Review-g294217-d918027-Reviews-Aspasia-Hong_Kong.html • • Bo Innovation. (n.d.). Retrieved from http://www.boinnovation.com/html/restaurant.php • • Caprice. (n.d.). Retrieved from http://www.dianping.com/shop/2198821 • Cathy. (2009). Food waste in restaurant. Retrieved from http://www.greenecoservices.com/food-waste-in-restaurants/ • Centre for Food Safety (2012), Food and Environmental Hygiene Department, HKSAR, Part V of the Public Health and Municipal Services Ordinance (Cap. 132). Retrieved form: http://www.cfs.gov.hk/english/food_leg/food_leg_list.html#part5 • C.J. Reissig.& E.C. Strain. & R.R. Griffiths. (2009). Caffeinated energy drinks—A growing problem. Drug and Alcohol Dependence. 99. (1–10). • • Census and Statistics Department of The Government of the Hong Kong Special Administrative Region. (2012). Table 200: Selected Industry Averages and Analytical Ratios in the Industry Sections of Import/Export, Wholesale and Retail Trades, and Accommodations and Food Services. Retrieved from http://www.censtatd.gov.hk/hong_kong_statistics/statistical_tables/index_tc.jsp?charsetID=2&tableID=200&subjectID= • • Census and Statistics Department of The Government of the Hong Kong Special Administrative Region. (2012). Table: Summary Statistics of Constituency Areas in Yau Tsim Mong District, 2006. Retrieved from • http://www.censtatd.gov.hk/hong_kong_statistics/statistical_tables/index_tc.jsp?charsetID=2&tableID=174&subjectID= • • Cuisine Innovation (2012) website. Retrieved from: http://www.cuisine-innovation.fr/php_creations/cuisine- innovation/cms/content/view/14/46/lang,en/ •
- 30. • Guide on Types of Licences Required (2012), Food and Environmental Hygiene Department, Ordinance (Cap. 371). Retrieved form: http://www.fehd.gov.hk/english/licensing/Guide_on_Types_of_Licences_Required.html • H. McGee. (2004). On food and cooking: The science and lore of the kitchen, (2nd ed.)Scribner, New York. • • Janthima Kaewpradab. (2006). Bangkok: Huacheaw Chalermprakiert University. Photocopied. The Relationship between Job Satisfaction and the Organizational Commitment of Employees, M.B.A. (Business Aministration). • • Kattiyapornpong, P. (2009). Profiling Generation Y- Where do they travel. Journal of Travel Research. (3-6) • • Line Holler Mielby & Michael Bom Frøst. (2010). 「Expectations and surprise in a molecular gastronomic meal」. Food Quality and Preference. 21. (213–224). • N. Kurti. (1969).The physicist in the kitchen, Proceedings of the Royal Institution of Great Britain. 42. (451–467). • Mr John C Tsang. (2010). the Appropriation Bill 2010. Retrieved from: http://www.info.gov.hk/gia/general/201004/21/P201004210173.htm • New.gov.hk from Hong Kong’s information Services Department (2011), GDP rises 7.2%, Business & Finance, June 20, 2011.Retrieved from: http://archive.news.gov.hk/en/categories/finance/html/2011/06/20110620_192823.shtml • Roongrawee Saithep. (2008). M.A. (Business English for International Communication). Bangkok: Graduate School, Srinakharinwirot University. A Survey of Motivational Factors of White-Collar and Blue-Collar Employees at Mattel Bangkok Limited. Retrieved from: http://thesis.swu.ac.th/swuthesis/Bus_Eng_Int_Com/Roongrawee_S.pdf • Tabacco Control office of Department of Health, (2012), Tobacco Control Legislation. Retrieved from: http://www.tco.gov.hk/english/legislation/legislation_sa.html • The Krug Room. (n.d.). Retrieved from http://food.vpire.com/614/the-krug-room/ • The S. Pellegrino World. (2007). The S. Pellegrino world's 50 best restaurants, Restaurant Magazine. • Vega. César. & Job Ubbink. (2008). “Molecular gastronomy: a food fad or science supporting innovative cuisine?” Trends in Food Science & Technology 19. (7). (372–382).