. From this point-of-view, it is highly important for the restaurant to have a skilled chef. The recipes that the restaurant offers can represent an important opportunity. Steaks are more or less the same in all the restaurants, but the manner in which they are cooked as well as the side dishes can really make a difference.
A third factor that can contribute to the successful functioning of the restaurant. This factor is represented by the quality of the services. One may come to a restaurant to enjoy the good food there, but he or she will surely not come back if they have to wait an hour to be served. The attitude of the restaurant staff as well as the atmosphere which they manage to create are key elements for the successful functioning of the restaurant. From this point-of-view, it is safe to say that the restaurant needs to have an efficient Human Resources policy, being able to motivate its employees properly.
A further factor that can contribute to the success of the business represented by the steak house restaurant can be found in its physical appearance. People choose a restaurant or another not only depending on the quality of the food that they can find there, but also depending on the atmosphere which they can enjoy. A cosy, relaxing atmosphere created in an elegant environment can be appealing for family dinners as well as for business lunches.
6. Critical issues
There are a few issues that the restaurant needs to take into consideration in order to make sure that it will function efficiently. First and foremost, the restaurant management needs to deal with the aspects represented by the human resources and the suppliers. Good personnel needs to be hired, but this is not enough. The staff needs to be trained and motivated properly so that the services will correspond to the identity that the restaurant promotes for itself.
The other issue, represented by the suppliers has an extremely big importance. The quality of the products that the restaurant provides depends on the companies which supply them, and their professionalism. Professional suppliers need to be found in the area and then good relationships must be established and maintained as far as they are concerned.
A third critical issue is represented by the competition. The restaurant management must take into consideration what and how the competition does in order to attract clients. From this point-of-view, the restaurant managers should act proactively in order to make sure that the business will function efficiently on a long-term basis.
3. Marketing strategy
The marketing strategy is an essential factor when it comes to the setting up and the development of any business. It helps to plan the exact phases which are required in order to reach the goals which have been established initially. It also helps establish the manner in which the phases of the plan can be controlled as well as to provide solutions for the cases in which something might go wrong.
3.1. Mission statement
The mission of the restaurant is to provide top quality services at affordable prices.
3.2. Marketing Objectives
The marketing objectives that the steak house restaurant has is to acquire a significant market share, constantly increasing the number of its clients. Another objective would be to increase the level of awareness regarding the company among the clients and the potential clients.
3.3. Financial Objectives
As far as the financial objectives of the business are concerned, they are to increase the customer sales in a continuous rhythm in the first year of functioning. Further increases are desired for the following periods as well.
3.4. Target markets
The target market that the steak house restaurant business has in mind is represented by the adult population living in the Charlotte area, as well as the people travelling in the area. The target customer is an adult with medium to superior studies, single or married, with or without children who enjoys meat and likes to eat out. The target customer has medium to upper incomes, is sociable and enjoys spending at least one of the week nights out, together with the family or the group of friends.
3.5. Positioning
The restaurant, despite being a steak house is to position itself as a high quality one. The prices that people will have to pay in order to enjoy the products and services of this particular steak house will be a bit higher than the prices found in other steak house restaurants, but the atmosphere and the quality of the services here will make them feel it is worth paying...
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