Success in the hospitality industry, in particular the restaurant area, depends on some very important criteria for success such as product, place/location, pricing, and promotional aspects. These four components constitute the marketing mix, and these elements comprise the 4 P’s of this marketing mix. As a student in a hospitality class, one becomes very familiar and knowledgeable of the application of these components.
Thus, the owner of an ice cream establishment known as The Sweet Spot shared the information that his business was slowing down because there is decreasing traffic, hence minimial demand for the product, ice cream, as a result profits dropped. This is a concern because Tom, the owner, since this establishment is Tom ultimate …show more content…
Moreover, there is no readily available parking, as well as the sign denoting The Sweet Shop is small, as well as, inconspicuous. Additional information gathering reveals that the owner only promotes his business via the local newspaper with an insignificantly small advertisement. Additionally noted is that minimial competition exists in the business area relative to the types of product, sweets and snacks, which sell in the shop, thus pricing is …show more content…
Increased advertising in two additional media will increase customer volume by twenty percent within a sixty-day time. At the end of the period, a comparison of customer volume before and after the advertising will occur to evaluate the current percentage. The new forms of advertising include a new, larger visible sign, as well as, an flyers delivered to all the surrounding buildings announcing new additional menu items, ice cream flavors, and special discounts. This begins three weeks for this point.
Secondly, besides the traditional the ice creams, the sweets, the snacks, the Italian sodas, and the coffee now offered, the owner will add the owner will produce two simple Italian-type sandwiches with appropriate condiments, as well as, three types of muffin type pastries for lunches, and breakfast. A correlation between these new sales items and the number of sales will show a twenty percent increase within forty-five days tallied via over sales during the time period
Thus, the owner of an ice cream establishment known as The Sweet Spot shared the information that his business was slowing down because there is decreasing traffic, hence minimial demand for the product, ice cream, as a result profits dropped. This is a concern because Tom, the owner, since this establishment is Tom ultimate …show more content…
Moreover, there is no readily available parking, as well as the sign denoting The Sweet Shop is small, as well as, inconspicuous. Additional information gathering reveals that the owner only promotes his business via the local newspaper with an insignificantly small advertisement. Additionally noted is that minimial competition exists in the business area relative to the types of product, sweets and snacks, which sell in the shop, thus pricing is …show more content…
Increased advertising in two additional media will increase customer volume by twenty percent within a sixty-day time. At the end of the period, a comparison of customer volume before and after the advertising will occur to evaluate the current percentage. The new forms of advertising include a new, larger visible sign, as well as, an flyers delivered to all the surrounding buildings announcing new additional menu items, ice cream flavors, and special discounts. This begins three weeks for this point.
Secondly, besides the traditional the ice creams, the sweets, the snacks, the Italian sodas, and the coffee now offered, the owner will add the owner will produce two simple Italian-type sandwiches with appropriate condiments, as well as, three types of muffin type pastries for lunches, and breakfast. A correlation between these new sales items and the number of sales will show a twenty percent increase within forty-five days tallied via over sales during the time period