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La Madre. Delivering the Mediterranean Experience to Bakersfield. Katie Bracker, Jamie DeQuillettes Kevin Duffy, Jared Grant Curtis Jensen, Jeff Studtman. Purpose. Venture Theme Restaurant Entertainment Target Market Rabobank College students Professionals Families
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La Madre Delivering the Mediterranean Experience to Bakersfield Katie Bracker, Jamie DeQuillettes Kevin Duffy, Jared Grant Curtis Jensen, Jeff Studtman
Purpose • Venture Theme • Restaurant • Entertainment • Target Market • Rabobank • College students • Professionals • Families • Downtown employees
Navigation Mission: To enhance the downtown Bakersfield community through a Mediterranean patio dining and entertainment experience
Strategic Market Value Creation“Quality & Design” “Modern functionality and old world atmosphere” • Quality: • Excellent food quality in regards to purchase standards (i.e. meat quality) • Superior customer service • Design: • Aesthetically pleasing • Unique atmosphere • Old world “look”
Strategic Market Value Creation“Brand Image” • The brand image provides competitive distinction and marketing advantage through: • More inelastic consumer response to price increases • Less vulnerability to competitive marketing actions
Promotional Strategy: IMC Plan • Target Audience: Downtown workers • “Push” strategy used for initial promotion, “pull” strategy planned for growth • Word-of-mouth communication • Major Promotional Tools Used • Advertising • Sales Promotion • Public Relations Katie
Promotional Media Plan • Phone Book Ad & Informational Website • Sales Promotion to local downtown businesses • Distribute Mediterranean delicacies along with description of atmosphere and entertainment options at the start of business and just before lunch • Mediterranean Media Day • Local city officials and media
Total Benefits Atmosphere Convenience Status High Quality High Service Total Price Food and beverage prices Entertainment Employee wages Upkeep Financing Mortgage Perceived Value
Pricing • Value-Based Pricing - Accommodate to target market’s wants and needs. • Add value with upscale, unique atmosphere. • Determine price from perceived value. • Inelastic Price Structure – High value creates the ability to adjust price without affecting the sales. • Price Skimming – Use high prices to establish high quality. • Financial Pricing – Food will be priced relative to perceived value and profit margin goals.