Market Analysis
A restaurant (/ˈrɛstərənt/ is a business which prepares and serves food and drinks to customers in exchange for money, either paid before the meal, after the meal, or with an open account. Meals are generally served and eaten on premises, but many restaurants also offer take-out and food delivery services. Restaurants vary greatly in appearance and offerings, including a wide variety of the main chef's cuisines and service models. One can never stopped Cagayan de Oro from progressing. Food establishments became rampant in Cagayan de Oro because of the great demand of Kagay-anons. With so many Kagay-anons who love eat delicious and mouth-watering foods; the team can really say that investors can capture big opportunities and would really want to invest in food businesses. Based on research for Region X, there are around 240 food restaurants registered in Cagayan de Oro City. As the team conduct the research about food restaurants specifically Barkadahan Grill, the new emerging company which is considered as the top competitor of Barkdahan Grill, Roy’s Bistro is very well-known to almost everyone. How did Roy’s won the heart of Kagay-anons? It offers affordable and tasty food options to its patrons which resulted to excellent reviews in the local scene. The store opens at 6am with their breakfast offering for only Php69, customers can already enjoy eating their breakfast. In addition to, break hours wouldn’t be a problem as the company is offering Chicken Burger. With only Php29, the burger will fill the empty stomach of their valued customers. For health-conscious, customers may want to try their fresh fruits at Php59. And though the store shows a self-service, their smiling staff will move beyond what is expected. It just implies that Roy’s Bistro promising “Good Food, Tastes Good” has indeed captured the hungry tummies of the customers. Unlike Roy’s Bistro, Barkadahan Grill is not a new entrant in the food industry. There been in the business for almost 10 years having 3 branches within the local city. Through proper marketing strategy and improved customer satisfaction, the company do believes that they will be the top choice of food restaurant in Cagayan de Oro in the upcoming years.
B. Demographic Profile
Age Bracket: Ranges from 18-50 years of age of young professionals, public and private employees
Gender: Male and Female
The company also aims to target secondary consumers namely: by-passers, and tourists coming in Cagayan de Oro.
C. Consumer Motivation/ Psychological Behavior
The target market of the company is composed individuals or group of friends who have enough allowance and salary for the targeted cost of the company. The company would like to cater the needs of these individuals because they are the type of consumers who love to eat different dishes, combo meals, and desserts like Buko Pandan and Buko Halo, etc in a most convenient place. Based on the survey results, most of the students and employees usually love to dine out during lunch time from 11am-2pm this is because students have their break hours during lunch time as well as employees. This is the time allotted for them to have a break after hours of duty schedule in the morning. Basically, lunch break is allotted to eat lunch meals alone or with their group o friends. This lunch break is not complete without a set of combo meals or unlimited rice kind of lunch.
Promotional Strategy
Barkadahan Grill has different market segments with similar characteristics and needs which is to cure their customers’ hunger at a reasonable price. Through these needs, Barkadahan Grill offers different types of marketing strategies toward their target market which is a group of friends and family. Barkadahan Grill creates its promotional strategies by the use of basic and visual marketing tools such as fliers, tarpaulins, and standees. This strategy is used for the customers to be aware about the company like the product it offers, the address of each branches and the numbers to call for inquiries. Furthermore, Barkadahan Grill promotes its products by having combo meal and a list of unlimited rice at a reasonable price.
Advertising Media
The researchers found out that there are certain blogs that contains information or comments about Barkadahan Grill that makes people recognize its business but this isn’t enough because of the growing market, they need to put up their own online website ads to keep up with the rising market and to retain customers. Updating social networking sites such as Facebook, Instagram & Twitter are great advertising tools, especially that people these days are into the advancement of technology. Thus, some consumers now would like to see if the product is good especially if its food; the more good feedbacks on it, then surely more consumers would buy.
Implementation Plan
The group proposes that Barkadahan Grill should upgrade its marketing strategies by implementing eye-catching and exceptional ideas that will invite customers and patrons to come back to Barkadahan Grill from time to time.
The restaurant management should consider the following to add more excitement of marketing and promotional activities:
|Promotions |Objectives |Budget |
| | | |
| |To attract customers | |
|Create an Official Website | | |
|(www.barkadahangrill.com.ph) |To extend product awareness | |
| | | |
| |To persuade more customers about the product| |
| | | |
|Free wall post: comments, suggestions etc. |For further improvements of the product | |
| |offerings | |
| | | |
|Special food offerings for the City Fiesta |To take advantage of large visitors coming | |
|celebration |over the city | |
| | | |
| | | |
| |To boost sales during a slow hours because | |
|Happy Snack Meals |Barkadahan Grill doesn’t offer snack meals | |
| | | |
| |To give new offering. | |
| | | |
|Student Budget Meal |To satisfy primary target market | |
|(Lunch Meal for Students) | | |
| | | |
|Groupie Day Per Month |To build good customer relation. | |
|(Photo Contest at Barkadahan Facebook page with| | |
|a description of #ilovebarkadahangrill and | | |
|whoever gets the highest like after 3 days, the|For stronger brand recognition. | |
|winning group which is a set of 3 members will | | |
|receive a combo Chicken BBQ) | | |
Example of Promotion during the celebration of the City Fiesta
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