Restaurant Release: Strategic Retail Planning Procedure Essay
To open up a restaurant in my town, I need to go through the following steps of the strategic retail planning process. First, I have to define the mission of my restaurant, i.e. to develop a statement, which describes the function and advantages of my organization, such as the following. In my own restaurant, a customer will undoubtedly be offered high-quality foods prepared in a brief period of time with expert staff in a cushty place with good songs. Second, I have to perform the problem audit. This task shall include marketplace attractiveness analysis, which is the evaluation of my possibilities to get profit in the forex market. I have to measure the true amount of people, who may be thinking about visiting my eating place and the reputation of the dining places of such type (with a particular menu, home design, and music) in this area. On a single step, I should match the competitor analysis, that is the examination of all of the restaurant businesses that could be my rivals, their disadvantages and advantages.
In addition, the self-analysis is necessary: I must evaluate my own abilities as a supervisor and a head. Next, I will identify the strategic possibilities of my future company, i.e. to get the real methods to attract visitors to my particular kind of restaurant. Then, I must measure the strategic alternatives, which demands choosing the real methods to secure my restaurant company from severe losses. Since my business is new, I will focus on price to create my restaurant more aggressive. Then, I have to establish precise objectives, such as for example 1) open the restaurant, 2) attract customers, 3) hire professional staff, and allocate resources for these objectives. Finally, I am going to create a marketing mix to create my restaurant successful. For the mix, I will introduce the products that are popular within my target market, choose a convenient place for my restaurant to ensure the high number of visits, establish attractive prices, and develop and appropriate advertising policy, making stress on good prices and comfortable atmosphere (Levy et al. 107).
Levy, Michael, Barton Weitz and Dea Watson. Retailing Management . 4th ed. 2014. Toronto, Canada: McGraw-Hill Ryerson. Print.