Assignment:
Q: Explain the features of the 4P
Place
Outbound
• Located at Dempsey Hill opening hour 1830 til late (only serve dinner)
• (Competitive area)
Tranquil hideaway, a dining, entertainment and shopping destination.
Heritage site maintains quiet and rustic to this day
Lots of high end restaurant
Inbound
• Main dining room
• Private dining room
• Cocktail Bar and lounge (exclusive for dining guest)
Product
• Premium Ingredient/ Premium taste
• Ingredient fresh
• Signature Seasonal menu
• Award winning handmade pasta
• Wine list- 500 selection
• Celebrity Chef creation
Price
Cost to produce a design a product/ distribute a product/ promote a product
• Competition price (Dempsey hill is a new retail and lifestyle destination with tons of high end restaurant)
• Premium line pricing
• Celebrity Chef as executive chef
• Acquisition of a Micheline star due to the quality of food soon the menu price follow
Promotion
Branding instead of promotion (reduce price)
• No walk in guest, exclusive for reservation
• Advertisement on quality magazine
• Obtained free write up of the restaurant in magazine such as
- Epicure, Food and Wine, Saveur
• Align with bank credit card
Branding
A brand is more than a logo: it encompasses the overall experience of dining at the restaurant. It starts with a core idea that motivates the business, like serving gourmet comfort food or providing a new ethnic food experience. The core idea becomes the public brand promise, which is communicated to customers through marketing and advertising. The visual aspects of a brand support the brand promise through the logo, colors, fonts and image styles.
Brand Application
Because restaurant dining is a sensory experience, the brand must involve a range of elements that affect the customer. A successful restaurant brand is evident in everything a customer interacts with, from advertisements to the way food is presented. The visual aspects and copy style are applied to marketing materials like the website, menu, take-out boxes, advertisements and business cards. To make the brand even stronger, apply the same visual style in those materials to the interior decor and employee uniforms. A restaurant that has a "fine dining with a twist" brand might dress their servers in formal uniforms and provide colorful plating designs.
Developing a Brand
The brand development process usually starts before the business opens. The initial definition and design evolves over time in response to new foods, styles or clientele. The owner of an existing restaurant can update the brand to focus on the things customers love most, like foods that have emerged as menu superstars. Successful brand development is a continual process as the owner find new ways to bring the essence of the brand into all aspects of the business.
Benefits
A strong brand creates a personality and an identity for the restaurant. A brand can boost name recognition and creates an expectation for the dining experience to attract people who are looking for something specific. If the food is good, the brand will help customers remember and recommend the restaurant.