Marketing. Chapter 7 Foundations of Restaurant Management and Culinary Arts. 7.1 Introduction to Marketing. Market: A group of people who desire a product or service Marketing: The process of communicating a business’s message to it’s market. Introduction to Marketing. Advertising .
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Foundations of Restaurant Management and Culinary Arts
Marketing Mix: combination of all factors that go into creating, developing and selling a product
All of the ways an operation actively tries to reach, or communicate with it’s desired customers.
Marketing Plan: A list of steps an operation must take to sell a product or service to a specific market.
Mass Marketing- treats everyone in the market as having the same needs and wants
Market Segmentation- when marketers break down a large market into smaller groups of similar individuals that make up the market
Demographics- refers to the ways in which researchers categorize or group people and can be done in any number of waysMarket Segmentation
Positioning- creating within the marketplace a clear, specific identity for both a product and the operation that offers that product.
Promotional Mix: The way a company communicates with an operation’s market
Advertising- paying to promote an operation’s products, services or identity
Sales Promotions: provide special incentives for customers to patronize an operation.
Apparel and Branded Merchandise- name and/or logo on t-shirts, mugs, pencils, stuffed animals
Media Relations- relationships that marketers maintain with the media outlets
Press Kit- a packet of info given to media representatives to answer questions they might have about a business or organization
A la Carte- menu prices each item separately, everything has it’s own price and is paid for separately
Cyclical Menu- chefs or managers change the menu after a period of time
Prix Fixe Menu- opposite of an a la carte menu, offers multiple menu items at one price
Profitability- amount of money remaining for an operation after expenses, or costs are paid
It is crucial to success of any operation that management have the knowledge and means to analyze how well items on the menu are performing.
Carbonated Soft Drinks are one of the most frequently ordered items in the US. Their low cost and high profitability makes them a STAR on any menu