Open table is an online service for making restaurant reservations. It’s the market leader in the space, you can search for a specific restaurant and make a booking or search an area and find restaurants that have availability for when you’d like to eat, near where you want to eat, and for the number of people in your party. (http://viewfromthewing.boardingarea.com/2012/09/30/the-ins-and-out-of-opentable-getting-rebates-for-online-restaurant-reservations/) The concept of Open Table was created to make the business of restaurant reservations more streamlined for both the consumer and the restaurant owners. Open Table charges a monthly fee of $199.00 for the restaurants to use their electronic reservation book; they also charge a onetime
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(Grewal/Levy, 2015) Again, this directly relates to the restaurants using the system as the consumers demand customer excellence. This is how the owners build and maintain their loyal customers. Market Share – Percentage of the market accounted for by a specific entity. (Grewal/Levy, 2015) Open Table holds the market share when it comes to the online reservation system. They are widely known to its users, both the restaurant owners and the consumers eating in the establishments. Intangible – A characteristic of a service, it cannot be touched, tasted or seen like a pure product. (Grewal/Levy, 2015) The Open Table online reservation system is an intangible object, it’s a virtual system and cannot be touched or tasted. It’s the end item that can be, which is the food we enjoy once we’re at the restaurant. Service Quality – Customers perceptions of how well a service meets or exceeds their expectations. (Grewal/Levy, 2015) The restaurants expect to receive good reviews from their customers so they go the extra mile to provide quality service, this is how they grow the business and make a profit. Demand Curve – Shows how many units of a product or service consumers will demand during a specific period at different prices. (Grewal/Levy, 2015) The restaurants use the Open Table system to track their peak times when they will be the busiest, they could use this information …show more content…
The first consisting of Segmentation, the 2nd contains the Targeting Segment and the 3rd is the Positioning Segment. For the 3rd and 4th step which is the targeting phase, once the target market has been selected, their marketing approach could consist of any of the following: undifferentiated or mass marketing, differentiated, concentrated, micromarketing or one-to-one. These approaches could consist of a newspaper or radio ad, sending a mass mailing, or based on Open Table trends send coupons to the most likely to use them. The marketing approach is always changing to target the most captive
(Grewal/Levy, 2015) Again, this directly relates to the restaurants using the system as the consumers demand customer excellence. This is how the owners build and maintain their loyal customers. Market Share – Percentage of the market accounted for by a specific entity. (Grewal/Levy, 2015) Open Table holds the market share when it comes to the online reservation system. They are widely known to its users, both the restaurant owners and the consumers eating in the establishments. Intangible – A characteristic of a service, it cannot be touched, tasted or seen like a pure product. (Grewal/Levy, 2015) The Open Table online reservation system is an intangible object, it’s a virtual system and cannot be touched or tasted. It’s the end item that can be, which is the food we enjoy once we’re at the restaurant. Service Quality – Customers perceptions of how well a service meets or exceeds their expectations. (Grewal/Levy, 2015) The restaurants expect to receive good reviews from their customers so they go the extra mile to provide quality service, this is how they grow the business and make a profit. Demand Curve – Shows how many units of a product or service consumers will demand during a specific period at different prices. (Grewal/Levy, 2015) The restaurants use the Open Table system to track their peak times when they will be the busiest, they could use this information …show more content…
The first consisting of Segmentation, the 2nd contains the Targeting Segment and the 3rd is the Positioning Segment. For the 3rd and 4th step which is the targeting phase, once the target market has been selected, their marketing approach could consist of any of the following: undifferentiated or mass marketing, differentiated, concentrated, micromarketing or one-to-one. These approaches could consist of a newspaper or radio ad, sending a mass mailing, or based on Open Table trends send coupons to the most likely to use them. The marketing approach is always changing to target the most captive