Published on March 3, 2014
“LE FANCY SCHMANCY” FINE DINE IN GENEVA RESTAURANT MANAGEMENT (1024) Date of presentation 11th February 2014 Group Member Krunal, Ajaz, and sumeet. Concept of restaurant Fine dine
CONCEPT OF FINE DINING IN GENEVA Fine dining and why Geneva ? It is known for patrons the finest food, quality service and atmosphere. Most expensive restaurant and menu should offer unique items service should be beyond doubt impeccable and the atmosphere should be inviting. Standards you should always include in fine dining are fine china, glassware and flatware (absolutely no paper, plastic, or Styrofoam). Geneva is the world third expensive city in 2012; moreover people here are very rich and can afford to pay high price for quality service and food. International students belongs to rich background and walk in tourist from Geneva airport. Business man and benefits of festival & annual conference.
MACRO ANALYSIS USING PESTEL Restaurant industry is affected by changes in national, regional and local economic conditions, consumer spending patterns and consumer preferences. Other factors , price elasticity of demand , inflation rate , government policy and change of government affect the whole industry. Political factors: A restaurant will be affected by factors that affect other businesses as well, such as tax rates and labor laws. Hygiene expectation and rules . Economic factors: The interest rate at 15% p.a in Geneva would definitely affect our fine dine restaurant Rate of inflation in Geneva (Switzerland) was recorded at 0.10% in 2013. Social factors: Eating habit of people in Geneva Ratio of people prefer to eat out regularly.
Technological factors: We will be doing business in Geneva and that we prepare a good hygiene food with help of latest technology in kitchen and we are having technically sound front office. Food technology , better production , procurement Legal factors in Geneva HACCP certification mandatory for hygienic food Regular random checking by government department for following procedure or not. Penalty up to 50000 CHF or imprisonment or shutdown by law.
PORTER ‘S FIVE FORCES IN GENEVA Rivalry among Existing Firms: HIGH Threats Of New Entrance HIGH Substitute Products – HIGH 5 Bargaining Power of Suppliers: MEDIUM Bargaining Power of Buyers: HIGH
SWOT ANALYSIS Well trained and groomed staff Many competitor in local area. Strong management team New in industry Easy access & location. poor supply chain Effective service. Menu preferences. High quality food. Market segmentation for elite class SWOT Financial market (raising money through debt). Innovation Expansion competition economic factors external changes like government,politics,taxes etc... lower cost competitors / switching option
MARKET SEGMENTATION Focus group 17% 25% Businessman Elite class Students walk in tourist 8% 50%
ADVERTISEMENT AND PROMOTION STRATEGY Local newspaper and Airport electronic 72” wide screens. Promotional Items Bounce Back strategy for existing or new customer Rewards Card Web-Marketing Relationship marketing Improve dining survey. Elite service
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