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SERVICE MARKETING

STUDY ON OPIUM

SUBMITTED BY: SHUBHAM AGARWAL AJAY

ACKNOWLEDGEMENT

I take this opportunity to express my profound gratitude and deep regards to Prof.T.kiran for his exemplary guidance, monitoring and constant encouragement throughout the course of this project. The blessing, help and guidance given by him time to time shall carry me a long way in the journey of life on which I am about to embark.

I also take this opportunity to express a deep sense of gratitude to Company Mentor: Mr.Sulabh Agarwal for his cordial support, valuable information and guidance, which helped me in completing this task through various stages.

I am obliged to staff members of OPIUM, for the valuable information provided by them in their respective fields. I am grateful for their cooperation during the period of my assignment.

Lastly, I thank almighty, my parents, brother, sisters and friends for their constant encouragement without which this assignment would not be possible.

TABLE OF CONTENTS

1. 2. 3. 4. 5. 6. 7. 8. 9.

Introduction to OPIUM.4 Trends and Growth5 Competition faced by Opium6 7Ps of Marketing..6 Segmenting....7 Targeting8 Positioning.8 PESTAL ANALYSIS FOR RESTURANT.9 CONCLUSION...10

OPIUM
Opium Restaurant is family owned and operated by Mr.Sanjay Agarwal. Opium was opened on 12-12-2012, the idea was simple; provide a comfortable and unique place to escape from the stress of everyday life, to relax and enjoy with a variety of places. Kinds of restaurant in OPIUM? One of the earliest decisions you are going to have to make is the type of restaurant you wish to operate. 1. Family or Commercial Family restaurants in India are generally multicuisine type with a medium price range. Dcor is bright. Parking is a now a necessity since customers (the family unit) generally arrive by car. Price range of the menu items has to appeal to the average family income. Location is important as it should have proximity to a residential area or shopping complex. Operating hours are generally from noon to midnight. Staffs are generally friendly and efficient, but not necessarily highly trained. Investment is medium to high. 2. Cafeteria Cafeterias require large traffic volumes. Location is critical to encourage this volume. Shopping centers and office buildings are good locations. Self-service is typical in cafeterias with menus somewhat limited but covering soups, entrees, desserts, and beverages. Cafeterias often require large preparation areas. Staffs are minimally trained. Speed of service is essential to handle the traffic volume. Hours will depend on the location (for example, school, office building). 3. Fast Food In India, fast food restaurants is keeping with the greater mobility and changing lifestyles of the urban consumer. These restaurants can be eat-in or take-out, or a combination of both. The menu is limited, and prices are relatively low. You can choose one particular kind of food to feature. For example, ethnic food of one type or another can be sold in a fast food format. Because of low prices, a high traffic volume (pedestrian and / or automobile) is critical. A fast food restaurant has to stay open long hours, and generally seven days a week. Staff training may not be highly critical unless it is a franchise operation where the franchisor generally sets standards of service and food quality that must be maintained at all times.

TRENDS AND GROWTH


The diverse culinary habits, wide range of cuisines and the diverse cooking techniques are some of the main factors behind the growth of restaurants in India. With the market liberalization policies undertaken by the government, India has also become a consumer market with a huge customer base. This has provided a fillip to the restaurant industry in the country. With the high standard of living and the change in the lifestyle of the people, more and more consumers are also flocking various restaurants. Recent surveys have shown that there has been a growing trend among the Indians to taste various types of gastronomical delights. This has also led to the growth of restaurants which serve regional and international delicacies. The growth of the tourism industry has also been a positive factor behind the growth of restaurants in India. With more and more domestic and foreign tourists going to the popular tourist destination, it has been a boon for the restaurants. According to recent surveys, India has become one the top five destinations among the 167 popular tourist destinations. With more and more foreign tourists coming in, the restaurant industry is expected to grow at a rapid pace and more categories of eating outlets will come up. According to recent surveys, the rate of growth of the restaurant industry in India is expected to be around 4.5 % on an average. A significant number of the workforce in the country is also engaged in the restaurant industry. According to recent surveys, by the end of the year 2012, the overall restaurant industry in the world will employ around 13.3 million people, of which India will have a significant share. However, the main challenge is to enhance the market growth of the industry. Today, the Indian restaurant industry is mainly based in the urban areas the tourist destinations. Efforts need to be made to increase the market in the rural areas as well. There are restaurants in the rural areas but most of them fall under the unorganized sector. A systematic approach is required to increase the target audience in the rural sector. With the open market and liberalization policies, more and more international restaurant chains are also opening their branches in various cities of the country. This has increased the rate of foreign investments in the country having a favorable effect on the overall economy of the country. The foreign restaurants are setting up bases to cater to the vast consumer market in the country. The growth of the restaurants in India has directly led to the growth of fast food eating outlets in the country. The Indian youth of today is very much inclined towards fast food and this has become a major factor towards the growth of these types of restaurants. The future of the restaurant industry looks bright. With the increase in demand, the consumer patterns, the profit of this industry will also significantly rise. In fact, the restaurant industry has become a popular career option for the youngsters of India. More and more people are opting to work in different segments of this industry to start a highly successful career. New courses and

study programs based on various sectors of the restaurant and food processing industries are also coming up to cater to students.

Competition faced by opium


It is generally faced by three hotels and two restaurants Hotels are:-Yatrik, sita, ambrosia Restaurants are:-Lets eat, outer circle

7Ps of marketing
Product Muliticusine , bakery items, Coffee and ice-creams Raw materials: Sourced from local only. Use of technology to upgrade quality Packaging Innovative and contemporary (in nitrogen filled pouches) Long life and attractive.

Prices Price is the any amount of money that customers have to pay while purchasing the product. More broadly, price is the sum of all the values that consumers exchange for benefits of having or using the product or services 10% more than the competitors. Prices of packed bakery items vary according to weights and type of raw materials.

Promotion Attractive posters, brochures, human billboards , rack card and mailers Press Hoardings, signage, and posters to disseminate awareness

Punch line for OPIUM is, Something for everyone. Loyalty card given to the regular customers.

Place - Place in case of services determine where is the service product going to be located. The best place to open up a restaurant is on the main area of city where all the showrooms and all are there.

Physical evidence People visit expensive restaurant to relish dishes otherwise available in less costly eating houses because of better ambience. Blueprint the physical evidence of service. Employees and there uniform are physical evidence for restaurant.

People Refer to all people directly or indirectly involved in the consumption of a service, example employees or other consumers. Process Service process is the way in which a service is delivered to the end customer. the companies thrive on their quick service and the reason they can do that is their confidence on their processes.

STP of restaurant SegmentationGeographical Age: Generally there is no age limit focused. The target and focus is on each and every individual in a society. It finds its largest demographic in the young of any society. Gender: Both male and females are focused, gender does not play any role here. Household Size: This plays a vital role in the demographic factor. Generally they target whole families rather than single persons.

Economic
Income: Income is an important key factor. This factor decides which class is to be targeted. It focus middle classes and upper middle class. Consumption Behavior: It estimates the behavior of people, their liking and disliking towards the pricing of the products.

Targeting: Geography: Main area of a city Demography: Urban people of both genders aged between 15 to 60 years of age. Income Group: A, B and C segment of people. Psychographic: People who have a busy lifestyle and are influenced by western culture

Positioning: In OPIUM feedback is taken from the customer in order to know the customer demands and then improvements are made in products. Focuses on pure and fresh food in order to create a distinct and clear position in the minds of customers OPIUM to create a strong brand name.

PESTAL ANALYSIS FOR RESTURANT


POLITICAL FACTORS Its International operation is highly affected due to individual countries policies enforced by its government. Indian people are getting concentrated on health implications on eating fast food. Licensing for its restaurants.

ECONOMIC FACTORS Recession Fluctuation in the rate of Raw Materials Taxes imposed by the government

SOCIAL OR CULTURAL FACTORS Established a good system in determining the need market. Concepts Used1. Consumer behavior product personality 2. Purchasing decision

TECHNOLOGICAL FACTORS Better inventory system Use of modern technology Use of better distribution chain

LEGAL FACTORS Muslim countries require their meat to conform to the Halal requirements of the law. Taxation policies, employment standards, and quality requirements Health Laws in India.

ENVIRONMENTAL FACTORS Employ non-biodegradable substances for their drinks glasses. Decompose the waste properly. Dont use coal tandoor.

CONCLUSION Restaurant companies are essentially retailers of prepared foods, and their operating performance is influenced by many of the same factors that affect traditional retail stores. For the most part, restaurants have business models that are relatively easy to understand, and the array on the Value Line page is the same as that of a standard industrial company. Nonetheless, there are a number of unique factors to consider when making investment decisions regarding this large and segmented industry. Competition between restaurants is intense, since dining options abound. And, while there are certainly dominant players in this industry (especially among fast-food purveyors), no one company has the market cornered. Indeed, virtually every restaurant location must compete not only against other publicly traded chains, but also a wide array of small, local establishments. Competitors include everything from delis and pizzerias to fine-dining restaurants. And, of course, it is relatively easy to forgo prepared foods, altogether, in favor of home cooking, which is usually a less expensive option. Thus, restaurant meals are discretionary purchases, and the industry tends to be highly cyclical. Restaurant stocks have a number of attractive attributes. Their business models are easy to understand, as are the factors that affect their performance. Most are cyclical, so broad economic conditions often play an outsized roll in the group's overall performance. However, fast-food retailers can sometimes provide more shelter in a down economy. Conservative investors might find the stocks of mature operators appealing as growth-and-income holdings. Conversely, fledgling companies, with new or unique formats, use most of their cash flow for expansion, and their stocks may offer attractive 3- to 5year appreciation potential to the more venturesome.