The main thrust of strategy is to lever our ideal location and specialized cuisine into higher profits through sales volume and higher prices. We understand the underlying needs and give the customer what they really need.
Most of our marketing efforts have already been mentioned. Our marketing strategy focuses mainly on making our existence known to the people working close to our location. It also depends on making our Northwest Pacific theme known to those same people.
We can focus on local marketing: our signage, a grand opening party, and flyers to local offices.
The company plans to use local radio as one of the means for promotion. Ms. Ericson is currently making arrangements to have a grand opening party that will include having a local radio station participate and air it over the radio. In addition the company is planning to use flyers to local businesses, direct mailers, billboards, etc. Billboards and radio will be used for the first six months to establish customer awareness and product attractiveness. Mailers and flyers will then be used to advertise sales promotions that will help bring in customers. One fortunate aspect of the restaurant business is that once a potential customer steps into the establishment, the chances of purchase are very high. So the promotional plan will be to draw people in to the deli and then seek to provide them with a superior eating experience.
New World Deli's most important market segment, given its location will be the business segment. Customers in this segment have a limited amount of time for lunch or require a quick pick-up dinner with no hassles. Furthermore, these customers need to be able to purchase their food with a wide variety of different monetary tools. This includes credit and debit cards, cash and checks. Finally, many of the local business people will wish to accommodate the desires of out-of-town colleagues who desire to sample some of the local cuisine. New World Deli will satisfy these demands better than much of the local competition through delivery to nearby offices, accepting most forms of payment, a rigorous plan to maximize speed of delivery, and of course our unique menu.
Our pricing strategy will focus on providing high quality, healthy food that is quick and has a unique flair. Because of this, we expect to be able to charge somewhat more for our products than other stores, as long as the customers agree that the food is better than average.
The following table lists important program milestones, with dates and managers in charge, and budgets for each. The milestone schedule indicates our emphasis on planning for implementation.
We need to offer fast service at peak times. The key is a good crowd balance, so that we never look empty but we are never so full that we turn people away. Lines have to move fast.
We need a good selection of convenient foods.
Our most important sales strategy is develop repeat business. Every customer who comes in has to want to return. To that end, we will offer some of the more established sales strategies such as discount cards, special menu days, and a regularly changing menu. NWD intends to keep accurate track of what types of sandwiches and other foods sell well and to create a program of customer feedback through surveys. With this information we will be able to streamline our food line to match the local tastes and encourage more people to eat at New World Deli.
Finally we will design a home/business delivery system that will allow for the dropping off of food within 1/2 hour after the order is made to insure the best possible eating experience and customer churn rate.
The following table and charts illustrate the sales forecast. We're sure this is a manageable forecast.
The company is currently seeking strategic alliances in two sectors, first, to work with other suppliers that will allow us to expand the company's menu line into coffee products and desserts. The second type of alliance the company is seeking is with local businesses that could be used to promote customer awareness and preference. A deal with a local radio station where a free lunch for an entire office could be won in a contest is being looked into.
Our most important competitive edge is the location closer to our potential customers than any other. In addition, we have our Pacific Rim theme that will attract customers looking for local cuisines.