Marketing Plan for Vinny's Prima Prego Marketing Plan

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Vinny's Prima Prego! Is a blossoming gourmet pasta restaurant in Kansas City with a rapidly developing consumer brand and growing customer base. The restaurant is to serve the younger generation of working professionals living in Kansas City. The restaurant faces stiff competition from various other restaurants but the one of the main ways of gaining competitive advantage is to offer deliveries to their clientele. An Integrated Marketing Communication strategy is developed in an effort of increasing its sales.

Situation Analysis

Vinny's Prima Prego! is close to entering their second year of operation. The restaurant has been well received, and marketing is now critical to its continued success and future profitability. The store offers an extensive offering of unique, gourmet pastas with delivery and curb-side services. The basic market need is to offer large groups, individuals, families, and take out/delivery customers fresh, creative, attractive, pasta dishes, salads and desserts. Vinny's uses homemade pasta, fresh vegetables, and premium meats and cheeses.

2.1 Market Summary

The target market for the company

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Vinny's Prima Prego has established its target market. The restaurant is in possession of great information concerning its market. Besides, it has a great deal of information regarding the observable attributes of a number of their loyal customers. The information regarding the target market is of great importance as it enables the organization to have an improved understanding of the people whom they serve, the specific requirements of the customers as well as how the organization is capable of communicating better with these customers.

Vinny's Prima Prego has classified its market into three domains. The factors that were taken into consideration by the restaurant entail demographic, geographic and behavioral factors. All these factors are discussed below:

Geographics

TOPIC: Marketing Plan on Marketing Plan for Vinny's Prima Prego Assignment

The instant geographic target of Vinny's Prima Prego is Kansas City, Missouri. The number of people residing in the geographical area is approximately 500,000. A geographical area of approximately 15 miles needs the services of Vinny's Prima Prego. The restaurant is capable of delivering within two miles only. An approximated population of 46,000 is targeted by the restaurant.

Demographics

The target market for the restaurant consists of both the Males and females. Again, the target market is consisting of ages ranging from 25 to 50. The target market also consists of professionals who are still very young and who work very near the location. Another characteristic of the market is that a number of them attended graduate school and college.

Behavior Factors

The target market enjoys meals of high quality without the problem of making the meals of high quality themselves. Similarly, there is value that is accredited to the presentation or appearance of food.

Market Needs

The restaurant provides the customers with a large selection pasts dishes of high-quality as well as salads which are pleasing and unique in presentation and makes use of top-shelf ingredients. Besides, the restaurant endeavors to meet the benefits described below. The benefits are of great importance to the customers. The benefits include:

1. Selection: A very large pasta choice as well as salad options.

2. Accessibility: The patron is capable of moving into to the restaurant very quickly. They are also capable of choosing the choice of curb side service, dine in or delivery.

3. Customer service: The patron might be overwhelmed with the amount of attention received by them.

4. Competitive pricing: every service or product may competitively be priced in comparison to the similar local pasta or Italian restaurants.

Market Trends

Restaurant's market trend is moving in the direction of highly sophisticated customers. The patron of restaurants in the present time when compared to that of the past is highly sophisticated in numerous diverse ways.

The first way is the quality of food. Due to the fact that consumers have commenced to realize the qualitative distinctions, high-quality ingredients' preference is improving.

The second way is appearance or Presentation. Because presentation of the components of culinary experience has become very pervasive, the patrons have learnt to realize this industry's aspect.

The third way is Selection. Individuals demand a wider food selection; they no longer accept the limited menus.

This trend is caused by the fact that during the recent past years, the offerings of the restaurant has improved, providing consumers with very new choices. The patrons of the restaurants do not want to accept inadequate options. Having numerous choices, the patrons have been very sophisticated. The trend is intuitive because one is capable of observing highly complicated restaurant patron in bigger city markets like New York, Seattle and Portland where more choices are available.

Market Growth

SWOT analysis is described as a method of strategic planning where strengths, weaknesses, opportunities and threats are evaluated. However, SWOT analysis alone should not be considered as the basis of evaluating the firm's survival and profitability prospects (Amstrong, 1982). Calculating the Return on Investments (ROI) for alternative courses of action and defining the firm's objectives are other two important aspects which should not be overlooked.

Pasta's world market has been approximated to reach 18 million tons by 2015. The sale of Pasta is approximated to improve by at about 10% few years to come. The improvement may be due to a number of different causes. The first one is a positive reception for the foods that are health conscious. Despite the fact that some pasta may not be beneficial, predominantly the sources that are cream based, pasta is capable of being extremely tasty and also health conscious.

2.2 SWOT analysis

There are a number of strengths, weaknesses, opportunities and threats that are available for Vinny's Prima Prego. All this are critically looked at. All these are of great importance to the company.

Strengths

Vinny's Prima Prego enjoys very great interactions with the vendors offering ingredients of very high quality as well as frequent or fast delivery schedules. Second, Vinny's Prima Prego has very excellent and highly trained workers who are very attentive to the customers. Another key strength of Vinny's Prima Prego is the high retail space which is very bright, clean, and situated in the Crossroads District, Country Club Plaza, as well as Power & Light District. Again, the restaurant has very high consumer constancy among the repeat customers. Besides, Vinny's Prima Prego offers food offerings with very high-quality and that exceeds the competitors offerings in presentation, quality and price. Lastly, Vinny's Prima Prego delivers meals to the customers on request.

Weaknesses

Despite the fact that Vinny's Prima Prego has several advantages, it also has its weaknesses. The following are some of the marked weaknesses of Vinny's Prima Prego. First, the name of the company is lacking brand equity. Again, Vinny's Prima Prego's marketing budget is limited to come up with brand awareness. The other weakness of the company is that it struggles to repeatedly emerge to be cutting edge. Finally, the greatest weakness facing the company is the numerous restaurants that it competes with.

Opportunities

A number of opportunities are available to the restaurant. A growing market having a great percentage of the target market is still not aware of the existence of Vinny's Prima Prego. The improving sales prospects in the curb side and the business of delivery are a great opportunity for the restaurant. Another opportunity that is available to the restaurant is its capacity to enter various revenue centers. The restaurant will be capable of spreading management overhead costs to the various stores thereby minimizing fixed costs for every store.

Threats

A number of threats face the restaurant. A number of local restaurants continue to respond to the restaurant's superior offerings. The presence of Gourmet pasta restaurant chains in the Kansas City poses a great challenge to the restaurant. The last threat that the restaurant may face is the economic downtown that is capable of reducing the disposable income of the customers. This is capable of making the customers to spend less when they go to eat out.

Competition

Competition is a very important aspect of business survival and success in the market, it is therefore imperative for firms that wish to succeed to analyze their competitors strategies with the aim of countering the same. This is because no business can develop without competition. In analyzing competition it is important to consider a number of forces including; the bargaining power of customers, the bargaining power of suppliers, the bargaining power of the employees and the substitute products. Competitor analysis is important in that it enables the business to gather relevant information that's helps in the development of the firm's strategies. It also helps the firm to identify and capitalize on the weaknesses of the competitors (Lester, 1988).

There are a number of restaurants with the same range of offerings within our locality. All these ventures have their targets on both low and middle class of the market segments. Most of these ventures compete on price but to a greater extent service quality. Since price alone is not a long-term competitive strategy, most of the firms have resorted to quality and creativity as their main competitive tools.… [END OF PREVIEW] . . . READ MORE

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