Marketing Plan Hospitality Assignment

Marketing Plan Hospitality Assignment Words: 2712

We are located in the stunning The Weston Cape Coral Resort in beautiful Cape Coral, FL. Cape Coral was built about 40 years ago by two land speculators who believed that the property’s location on the Gulf Coast provided abundant sunshine and almost endless opportunities for waterfront living. The City incorporated in August 1970, and its population continues to grow rapidly. With more than 160,000 residents, Cape Coral is one of the fastest growing areas in Florida. Cape Coral is the 3rd largest city geographically in the state of Florida and is the 1 lath largest city in population.

Once a rural area dotted with cattle farms, gladiolus fields with an abundance of wildlife and birds, Cape Coral has transformed over the years into a vibrant city well-known for its family-friendly atmosphere with an extensive canal system perfect for boating, numerous parks and beautiful beaches; a suitable location for Marker 92. At the Marker 92, we believe the outlook towards the future of is promising. The Weston – new property managers for Marker 92 and the hotel division of Tarpon Point Marina – are well on their way to establishing a first-class resort ready to boost Marker 92 to its maximum potential.

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The resort properties were built with luxury, amenity, and style all in mind. Tarpon Point Marina is a stunning luxury waterfront resort-style community. Marker 92, the Weston, and Tarpon Point Marina are a great combination and will provide the city with a year-round economy. The lounge and restaurant are open seven days a week. We offer entertainment and fresh ideas to attract new customers to Marker 92. The restaurant is fine dining but in a cozy atmosphere. This contributes to a sense of community and allows for a diverse clientele.

During the slow summer months locals can also sit outside on our overdo patio or even relax at our sister bar, The Underestimated. We will soon offer a special summer “Twilight” menu, featuring lighter fare, exotic drinks, and a few non- alcoholic offerings. We currently serve breakfast, lunch, and dinner. We will be open on all large holidays such as Memorial Day, Fourth of July, Thanksgiving, Christmas, and Labor Day weekend. These are all huge holidays that bring many locals and tourists to the area. Marker 92 Waterfront Bar & Bistro offers The Mariner Room, a private room offering remarkable views for events of up to 50 people.

Reservations for this room are required. Upon reserving, you are be assigned your own professional wait staff By alertest 981 that will take care tot all your dining needs. Our Catering team helps you in creating the perfect menu for all guests to enjoy. Marker 92 and the Weston Cape Coral Resort are the perfect place when guest need that ‘little extra. ‘ They can have business meetings here, a place for a quiet conversation, or for a special occasion. We will make up special hors d’oeuvre platters or full course meals for all guests’ special occasion needs. The service is relaxed, very friendly and correct.

We hire the best people available, raining, motivating and encouraging each other, and thereby retaining the friendliest most efficient staff possible. Our management team is comprised of individuals whose backgrounds consist of precious, valuable experience in food, restaurant and hotel, catering, management, finance, marketing, travel, and leisure. Most important to us is our financial success and we believe this will be achieved by offering high-quality service and excellent food with an interesting twist. We will be able to provide even more precise projections once our experience and knowledge of the surrounding areas grow.

As our business becomes more established and reliable, our ability to pay an improved return of capital will be evident. Mission Marker 92 is a great place to eat, combining an intriguing atmosphere with excellent, interesting food. The mission is not only to have great tasting food, but have efficient and friendly service because customer satisfaction is paramount. We want to be the restaurant choice for all families and singles, young and old, male or female. Employee welfare will be equally important to our success. Everyone will be treated fairly and with the utmost respect.

We want our employees to feel a part of he success of Marker 92. Happy employees make happy guests. We will continue to combine menu variety, atmosphere, ambiance, special event nights, and a friendly staff to create a sense of ‘place’ in order to reach our goal of overall value in the guest dining experience. We want fair profits for the owners, and a rewarding place to work for the employees. Situation Analysis Marker 92 will continue to focus on Cape Coral locals, domestic and international tourist, Weston Hotel guests, Tarpon Point residents, boating enthusiasts, and restaurant seekers of all calibers.

Guest and residents staying on the Tarpon Point Marina properties will be of utmost importance. People that have a desire for good food and a fascinating atmosphere will be able to achieve Just that while dining at Marker 92. Cape Coral is centrally located 31 miles north of Naples (FL), 7 miles north of Fort Myers (FL), and 65 miles south of Sarasota (FL). Cape Coral and the surrounding area are growing once again, developing a new looks, and attracting a larger community of affluent residents. The influx of permanent residents will provide the city with a legitimate year-round economy.

Even cities like Miami, Orlando, and Tampa look awards cities such as Cape Coral for casual weekend getaways allow for possible increases in revenue. As the city tot Cape Coral is re-developing, we can see that a tine dining est.. Belittlement like Marker 92 is needed here. The city has much to offer and the people that it draws expect a place where they will get the best of everything. Marker 92 offers a new fine dining concept to the area. The elegant atmosphere, our excellent food and our friendly staff will stand out and make a name in Cape Coral and Lee County.

We will succeed by giving people a combination of get a little bit more out of excellent ND interesting food in an environment that attracts successful people that want to life than Just the ordinary! Marker 92 intends to cater to a wide group of people. We want everyone to feel welcome and relaxed in a sophisticated yet cozy atmosphere with a wide and varied menu. It is our goal to have “the best of the best” every day on our menus. In looking at our market analysis, we have defined the following groups as targeted segments – The Business Man: They work hard all day and often stay overnight in a strange city.

He needs a competent establishment that helps impress his clients and prospects. Afterward, they want to relax and use the money they are making. They are the people that spend the most on drinks, food and tips. Happy Couples: The restaurant will have an intimate, romantic, sophisticated atmosphere that encourages people to bring dates and to have couples arrive. Marker 92 wants to be a place where people meet each other and develop healthy networks. These young couples are generally very successful but balanced and wont be spending as much on drinks. The Family: The perfect place for any family dinner.

Families will come for the flexible menu and friendly service. The excellent value and quality in their meals will keep Marker 92 a favorite for families. High-end Singles: We will attract them with our decor and layout. Our international menu, striking interior, wine tasting evenings and events, excellent service and engaging clientele will confirm the feeling of being in one of the coolest places in Cape Coral. Tourists: Cape Coral is a city that attracts many vacationers almost year round. Peak season starts around Christmas and last until approximately Mother’s Day every year.

Marker 92 will be a destination with its attractive atmosphere and international menu. Marker 92 will focus on attracting a wide and diverse clientele ages 25-60 with an annual income of at least $55,000. We want the business man, happy couples, high- end singles, and families, tourists with money, wealthy image seekers and compulsive spenders. We focus on these specific groups because these are the types of people who frequent other restaurants and bars in the area. They are the ones that are willing to spend their money on good dining and service at a reasonable price.

We generally know the characteristics of our clientele and with the available demographics we can offer something to almost everyone. Our demographics include people from the immediate Cape Coral area, restaurant patrons from the Weston Hotel, and tourists from other cities and states. Our clientele tend to be people who are creative, entertaining and sophisticated diners. The creations from a unique and innovative fine dining atmosphere differentiate us from the competition. Marker 92 stands out from other restaurants in the area because of the unique design and decor. Controlling costs at all times without exception.

Due to intense competition, restaurateurs must look tort ways to determinate their place tot business in order to achieve and maintain a competitive advantage. The management of Marker 92 realizes this. With the re-development of Cape Coral and surrounding areas, it needs a place that will fit into the ‘new look’ of the community that is sophisticated and entertaining. The fact remains that there are hardly any other restaurants in the area have this concept and atmosphere presenting us with a window of opportunity and an entrance into a profitable niche in the market. Prices will be competitive with other upscale restaurants in the area.

However, it is the strategy of Marker 92 to give perception of higher value than its competitors, through its food, service, location, amenities, and entertainment. The opportunities are endless. Marker 92 and the Weston Cape Coral Resort have the potential to set new standards in the service industry, Cape Coral, and the surrounding areas. Objectives Marker ass’s objectives for the next few years include: ; Keeping food cost lower than 35% of revenue. ; Keeping employee labor cost between 24-29% of revenue. Stay an intimate restaurant with excellent food and service. ; Averaging sales between per year. Promote and expand events.

Expand our marketing and advertising in Cape Coral, in surrounding areas, in Florida, and hopefully across the United States. ; Hopefully achieve 12% return on investment to investors for the first two years and for the next three years. Strategies Our strategy is simple; we intend to succeed by giving people a combination of excellent and interesting food in an environment that appeals to a wide and varied group of successful people. We will focus on maintaining quality and establishing a strong identity in our community. Our main focus in marketing will be to increase customer awareness in the surrounding communities.

We will direct all of our tactics and programs toward the goal of explaining who we are and what we do. We will keep our standards high and execute the concept so that word-of-mouth will be our main marketing force. We will create an appealing and entertaining environment with unbeatable quality at an exceptional price. An exciting and friendly restaurant, we will be the talk of the town. Therefore, the execution of our concept is the most critical element of our plan. All menu items are moderately priced for the area. While we are not striving to be the lowest-priced restaurant, we are aiming to be the fine dining value deader.

We will employ three different marketing tactics to increase customer awareness of Marker 92. Our most important tactic will be word-of-mouth/in-store marketing. This will be by far the cheapest and most effective of our marketing programs. Word- of-mouth/Len-store Marketing- Grand Re-opening celebration. “Restaurant Night” – Every Monday night we will nave a special evening tort restaurant people. A perfect night for the local area’s restaurant owners and staff to get together on a night off! ; Valentine’s Day packages. Easter Brunch and Dinner. Fourth of July/”Pops on the Point” Celebration.

Labor Day Weekend festivities. Wine pairing dinners. Seafood Sm??rg??sbords ; New Year’s Eve Dinner, Drinks, and Dancing Packages. Fireworks on the harbor @ midnight ; Special ethnic food nights. ; Memorial Day festivities. Mother’s and Father’s Day packages ; Local Store Marketing Make a brochure for the large hotels and popular bed & breakfast establishments in town to provide to their guests, containing interior pictures of our restaurant, menus and prices. There are several nursing homes in the city of Cape Coral. We will approach them to sponsor meals for the elderly.

This will offer us higher visibility to a group that may not be as mobile and we’ll be contributing to the community in a material way. Word-of-mouth referral is very powerful and particularly amongst the elderly to both their peers and their extended families. Local Media Newspaper campaign – Placing several large ads throughout the month to deliver our concept to local area. Direct mail piece – Containing interior pictures of our restaurant, our menu, “Theme Nights,” catering, and an explanation of our concept. Website Target marketing to businesses for regular business lunch and dinner entertaining.

Tactics Our competitive edge is the menu, the chef, the environment, the management, the service and our friendly, intimate, lavish location! We will have an international menu and our food will be made with the freshest ingredients and produce available. The chef has an excellent taste for what fine dining is and requires. Our environment is elegant and comfortable and our decor is masculine and relaxing. Great service is very important to us. The management and servers will handle every detail to make customer’s special evening even more special! All this and our great atmosphere will make customers want to come back again and again!

Everyone that sells prepared meals is our competition though because we all compete for the same home meal replacement dollar. However, there are two segments of the restaurant industry that are our main competition: the casual dining restaurant concept and the fine dining value restaurant. If the value of the food and price and service is better at a fine dining restaurant than a casual restaurant, where will is a customer more likely to go? The key is to deliver the best food at the best price with the highest level of arrive. This is the very definition of value. This concept is at the heart of Marker ass’s concept.

Controls The possible financial plan(s) depends on important assumptions. The key underlying assumptions are: 1. We assume a slow-growth economy, without major recession. 2. We assume that there are no undertones changes in the expectancy in the popularity of our restaurant. 3. We assume access to investments and financing are sufficient to maintain and fulfill our possible financial plan(s) Although growth margin doesn’t Jump drastically in the first year, over time the assistant will develop its customer base and reputation back since Weston (Stardom Resorts) has taken over.

Growth will pick up more rapidly towards the second and third years of business. The cash flow depends on assumptions for inventory turnover, payment days, and accounts receivable management. Our projected same-day collection is critical, and is reasonable and customary in the restaurant industry. We do not expect to need significant additional support even when we reach the less profitable months, as they are expected. We do not anticipate difficulty meeting our debt obligations providing that we achieve our specific goals.

No one intends on a business failure, however sometimes ventures do not fulfill their promise. We at Marker 92 are committed to our concept and its viability. In the event that our venture cannot achieve profitability and retire the encumbrances; we will first attempt to sell the operation and use the proceeds to clear all outstanding balances. If we are unable to sell the operation for sufficient proceeds we will be forced to default. Any further outstanding balances will be borne by the investors on a weighted percentage basis of the total amounts due in bankruptcy proceedings.

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