Pest Analysis For Restaurant

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PEST analysis stands for Political, economic, social and technological analysis that describes a framework of macro environmental factors used in the environmental scanning component of strategic management.

2.1.1 Political factors are basically to what degree the government intervenes in the economy. Specifically, political factors include areas such as tax policy, labor law, environmental law, trade law, tariffs, and political stability. Political factors may also include goods and services which the government wants to provide or already provided.

In our business there are some specific tax policies. We will collect the taxes from the customers as the product VAT and that will paid to the government as tax. Describing the labor law we …show more content…

These are some basic segmentation that can be done for our restaurant business.

Geographic Segmentation divides the market into different geographical units such as nations, regions, states, counties, or cities. Based on our restaurant business we have decided in a coastal area near Cox’s Bazaar where our customer can enjoy a wonderful scenario of sunset and sunrise.

Demographic Segmentation divides the market into groups based on variables such as age, gender, family size, family life cycle, income, occupation, education, religion, race, generation, and nationality. We are targeting our customer based on newly married couples and teenagers which age around 15-40 years old.

Psychographic Segmentation divides buyers into different groups based on social class, lifestyle, or personality traits. We are doing psychographic segmentation through charging a bit premium price in our products. This will psychologically perceived our customer that our foods are high quality foods compared with other …show more content…

In our restaurant business we have decided to use concentrated marketing targets which involve targeting a small share of a large market. Since our restaurant is a medium size company we have limited resource and knowledge of the market. However, our success will depend on how effective and efficient we can become in delivering our services to our target customer.

3.3 Product positioning is a way that the product is defined by consumers on important attributes such as the place the product occupies in consumers’ minds relative to competing products. Product positioning can be based on the consumer’ perception, feelings or impressions it has to our products. So for our restaurant this is how we will be positioning ourselves.
• We ensure that each guest receives prompt, professional, friendly and courteous service.
• Clean, comfortable and well maintained premises for our guests and staff.
• A fair price - nutritional, well-prepared meals - using only quality ingredients.
• Consistently offer to our customers with impeccable service by demonstrating warmth, graciousness, efficiency, knowledge, professionalism and integrity in our work.
• Hospitality and entertainment point

4. The Marketing Mix
4.1

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