Target Market Strategy

Target market

“Some people think of marketing management as finding as many customers as possible and increasing demand.” (pg9 of textbook) I think again with our location we start with a great customer base. Working calss people from the numerous office complex will come for luncheons or for a happy hour. It is my responsibility to create a buzz and exceptional memory for this core group of customers. They will be the ones to handle most of my marketing through word of mouth. These people will initilay come to check us out but once they are in I will make them repeat customers who will then come back for meals with their families and friends. We should experience a steady customer growth just from these original customers. I will create a buzz throughout the community then hope that it spreads through out the Las Vegas Valley. "Marketing is managing profitable customer relationships. The twofold goal of marketing is to attract new customers by promising superior value and to keep and grow current customers by delivering satisfaction." (pg 5 of text book)

SWOT analysis

SWOT

The strengths for our establishment will be our ability to provide a one of a kind dining and entertainment experience. Our staff shall be trained thoroughly as to provide the experience we want to provide. Our food and beverages will be made with the utmost attention to detail and the products they will be made with will be of superior quality. The dining area will be filled with tropical foliage and trees adding to the tropical feel and experience. The live entertainment will be exceptional live beach type music (original and cover bands) everything from Jimmy Buffet to Bob Marley.

The weaknesses for our establishment will be our ability to maintain a solid well-staffed establishment at all times. The upkeep of the foliage will be another large experience. Keeping the quality of product I plan to have may be an issue due to season of, say our seafood, or the prime cuts of meat. We will have a ton of fresh product and I will have to find a way to market so that we sell it all before it goes bad, and order so that we never run out of a menu item.

The opportunities for our establishment will be the location and clientele that will frequent our business. The location is a short 2 mile drive from the Las Vegas Strip. It is a standalone building right on Flamingo RD which has a ton of traffic 7 days a week. We will have very visible signage. The building is literally surrounded by several large office complexes. These offices will create an initial customer base. There are also many affluent neighborhoods and condos in the area which gives us another pool of customers to work with. From there word of mouth will be sufficient.

The threats for our establishment will be the completion in the area. Being 2 miles from the Las Vegas strip could be an issue. There is a lot of completion between the strip and the establishment. We will have to have a secure customer base and good marketing to keep up. But again with the dining experience we will be selling will be a lot different than any other establishment.

Objectives

Objectives

The objective is to provide a one of a kind experience for our patrons from the moment they walk in to the moment they depart. I as the owner will implement this objective by putting in a dependable confident a friendly staff. I will start with a team of managers, one for every department. Their sole position is going to be to carry out the specific objectives I put in place through out their own department. The managers will train and test new and old employees that are assigned to their departments to e3nsure the all positions are in tune with our objectives.

I will start with the kitchen, first we will need a chef that can create the types of dishes we are going to serve. He or She will be entirely responsible for any food or sanitary issue through out the establishment. The chef will have a food cost par and staffing par to ensure we stay balanced on all costs. The chef will then implement experienced dependable Kitchen staff. He will train his staff in all areas of food prep and food handling safely. He will also be solely responsible for any inventory with in his kitchen.The chef will have to keep things in order as far as food cost and waste management. He will teach his staff to stay consistent with portion sizes and speed of delivery.

Next we will address our front of house with a floor manager. Their whole responsibility will be all of the wait and buss staff. They will be in charge of staffing the dinging room with waiters.

Bussiness Mission Statement

The mission statement for the Hut is to provide an unmatched dining and atmosphere experience for the local community. The hut will create a one of a kind menu for cocktails and food. We want to take the everyday diner in this dry desert and immerse them into a cool Caribbean setting with out the resort fees and airfare. I believe that we can accomplish this with our original and distinctive menu form our Caribbean inspired dishes to our light and fruity rum inspired cocktails. The hut will also include the soothing sounds of Reggae and other beach inspired music after the dinner rush. We believe that we can provide this experience for the person on almost any budget."An organization exists to accomplish something, and this purpose should be clearly stated. Forging a sound mission begins with the following questions: What is our business? Who is the customer? What do consumers value? What should our business be? These simple-sounding questions are among the most difficult the company will ever have to answer. Successful companies continuously raise these questions and answer them carefully and completely." Introduction to Marketing pg.39 chapter 2.

Week 7 EOC - Bar Pitch

I am going to bring the beach to the desert with my own little Las Vegas Tiki Bar. We will do our best to bring a cool island breeze and attitude to our patrons through our fragrant food, bright tasty cocktails, rhythmic island music, and beach atmosphere. As soon as you come in the door you will be greeted by our friendly life guards (staff).  The atmosphere will put you straight into a tropical paradise. The bar itself will have a palapa roof with pastel colored fixtures. Behind the bar we will have some of Las Vegas most talented bartenders. The dining experience will be one of a kind as well. We will offer dishes from Sea food to prime beef. Appetizers and side dishes from all over the Caribbean. There be recorded music playing most week night but on the weekend after the dining crowd fades we will host reggae and other island bands making the atmosphere more like a Jamaican disco than a Las Vegas theme restaurant.

My Voice

My name is Michael Sherman I am an audio production student at the Art Institute of Las Vegas. I will soon be completing my first year and I am very excited to put the skills I have obtained to work in the real world. I Might be a bit of A late bloomer but have never felt the need to pursue A higher education until I had my son in February of 2011. I have been slinging booze for 12 years in and around Dallas Texas and Las Vegas Nevada. I decided not to long ago I wanted to pursue an education in something that I enjoyed and loved. Audio production was the area of study for me. I started a business with a friend of mine in 2005 called Heads Up Productions. We managed and promoted bands throughout the local Dallas area. The first show we did was a 3 day event with 15 bands a battle of the bands with % bands every night. We worked so hard and did so well promoting the show that I realized I could make this more than a hobby. We worked together for a few years and made some decent income but never enough to get me out from behind the bar; I have since split with my partner and have relocated to Las Vegas. So here I am trying to gain the skills I may need to get me in the Audio industry and out of the drinking business.

Week 2 EOC

The market share in the video game console market is pretty much up for grabs at this point. I do not particularly feel there is a real industry leader at this point. To me the two main manufacturers are very close in annual sales every year. According to vgchartz.com Over the Lifetime sales of the three major consoles NINTENDO WII has the lead with 42% of the lifetime market share. Though Playstation 3 and Xbox360 in recent years have out sold the WII by a ton they are still about thirty million units down over the lifetime of any of the 3 consoles.  http://www.vgchartz.com/article/88844/2012-year-on-year-sales-and-market-share-update-to-february-11th/.  “Though console gaming currently represents the largest market in the industry, its growth is projected to slow down in the upcoming years, from a 10.9% growth between 2003 and 2008, to a 5.5% between 2008 and 2013.” http://sites.duke.edu/soc142-videogames/international-trade-patterns/industry-growth/. While console gaming might be down a bit and the mobile gaming platform will show the most growth the console market will still hold the market share for some time to come. NINTENDO released a new console the WII U in the winter of 2012 and sales of the unit have been impressive, “despite negative publicity, the Wii U launch is off to a good, if not great start.  The Wii was a phenomenon.  For the Wii U to do 88% of the Wii's numbers, despite costing $100 more is nothing short of impressive.”http://www.hollywoodreporter.com/news/video-game-console-battle-tightens-167183. Though the Wii U sales are impressive I believe it will be short lived. Both PlayStation and Xbox have set to release their own consoles late fall 2013 they will surely interfere with the Wii U sales. Whoever comes out on the top of this year’s late battle for console supremacy will surely be the one to sit on top of this market share battle for some time to come.