Marketing Plan: Wow Sarap Fast Food Restaurant
Marketing Plan: Wow Sarap Fast Food Restaurant
PLAN
Market Population
Primary Target Market 25, 109
Secondary Target Market 42, 186
Total Target Market 67, 295
The market size for the business would be based on the population of
Bontocand the tourists coming in and out in the municipality since the business is for
all kinds people regardless of social status, gender and the ones who are aging 7 years
old and above. On the latest PSA 2015 result, Bontoc has 25,109 populations while
local and foreign tourists coming in the municipality are 42,186 according to the 2018
Bontoc Municipal Tourism Office records. The primary target of the business would
be employees, students and families while the secondary target market are tourist
coming in or passing by within the town.
2. Market Trends
B. Market Profile
The owner of the business will purchase its main ingredient, chicken, from
Magnolia Corporation vegetables and available ingredients will be purchased within
the locality. Equipment to be used in the operation of the business will be purchased
from Tiongsan, Baguio City. Proper storage of the ingredients will follow shortly.
Rules and regulations of a restaurant will be imposed within the establishment for the
betterment of the business and its customers. The business will operate from 6:00 am
– 9:00pm everyday excluding Saturday that will serve as rest day of the employees.
C. Environmental Analysis
1. Analysis of Opportunities and Threats
Opportunities
Business Popularity. The Fast Food Industry is a popular business establishment for
people. Majority of children, teenagers and adults have gone to fast food restaurants
and experience the services that a fast food restaurant offers. This will attract
customers to enter the proposed business and experience the quality service of a fast
food restaurant
Expand. Once Wow Sarap Restaurant generates more revenues at this location and
has a larger budget, they should expand the business in some locations still here in
Mountain Province and even in Baguio City and La Trinidad where there might be
larger customers that wants to have a taste with the menu of the said business. This
would greatly contribute in retaining customers, brand retention, and advertisement.
New Establishment. Wow Sarap Restaurant would be a new business in the place and
it can attract a lot of attention.
Unli-Rice. Filipinos are well known as rice-eaters. They eat more rice than any Asian
countries. Within the place of the establishment, Igorots are fond of unli-rice
restaurants, as observed by the owners, they prefer restaurants that offer unli rice
promos than those who do not.
Threats
Health Risks. Fast Food restaurants are known to be offer excellent food to its
customers, however, some fast food restaurants had experience complaints about their
food having not cook, too fatty and have foreign objects like hair,etc. This will
present a great task for the proposed business to overcome this risk
Competitors. Even if the Wow Sarap restaurant will be the first fast food restaurant in
Bontoc, it still considers other dine-in restaurants as its competitors because they have
been in this business venture in a long time and has captured many of the target
customers because of its long stay in the place.
Converting Threats to Opportunities
a. Health Risks – The business will use fresh ingredients from Magnolia
Corporation and will accommodate vegetables from local farmers of
Mountain Province. This will not only help the business in terms of health
related matters but will also help local farmers earn money.
b. Competitors – The business will focus more on the advertisement of the
establishment before it operates and on the first period of its operation for
it to attract more customers.
However, the competitors that we can consider are the local dine in restaurants in the
municipality since they still offer somewhat similar services to the customers and has been
here in the place for a long time. In addition, the business will make sure that the customers
will be satisfied in the services and products the business will offer by adding different
services or value which the competitors don’t have. It includes the following;
1. Star chef – a chef who has different experiences and knowledge about
cooking and making a fast food. This star chef has its own secret way of
making his menu.
2. Fast home delivery service – this service is offered to the ones who will
take out their ordered product. The business will make sure that the
product will be delivered at the exact time the customer has wished for.
3. Organic products where the quality is much higher.
B. Market Shares
Market Shares
Target Market
2019 (50%) 2020 (40%) 2021 (55%)
67, 295 33 647 26 918 37 012
Strengths
Gives information in the community about the business so that people will be
aware about the establishment and look into the needed services of the
customers, in this way, the business can offer whatever needed help the
community needs, especially the target market.
Customers will be treated like a family as they enter the business
establishment, it will be a dining room away from home experience.
Excellent fast food service will be provided to the customers.
Will entertain local farmers for its ingredients, in this way it can also help
local farmers gain profit.
By making ourselves involved and present in the community activities, and
fiestas and will integrate the business to all of its activities, so that promos and
bonuses can be provided.
Adaptable to the culture within the community
Description of the do’s and don’ts of a restaurant.
Opening of a cellphone hotline number so that customers can make orders
while at home and be delivered unto them.
Quality food
Open everyday
We expect a high degree of enthusiasm and offer a fun store with friendly
staff,that reflects the company's youthful and energetic culture
Weaknesses
Wow Sarap was founded by Joshua Dacawe, Cynthia Rosario Molina, and
Vanessa Zaparita. Dacawe graduated degree in marketing and worked for several
years at Jollibee as an Administration Service Manager. Molina graduated
Accountancy and worked as Financial Manager in Chowking for 5 years. Zaparita
graduated Culinary Arts and worked for several years at Greenwich as a Food Service
Manager. These 3 former classmatesthen decided to develop and market a line of fast
food restaurant with a uniqueappeal to the target market.Then business owners
decided to will start the business in December, 2018.
2. Company Strategy
Purpose
To be the leading restaurant in the food industry by meeting the “capacity” of
the customers in buying their meals.
Vision
Our vision is to build and maintain a customer-oriented business that will
nurture the service and product’s excellence through cleanliness, high quality and
value to meet the expectation of our customers. Moreover, the business will build a
friendly and family oriented environment to the customers. The main vision of the
business is to be the best quick service restaurant experience to the customers.
Mission Statement
Wow Sarap Fast Food Restaurant’s mission is to be the leader in introducing
innovative and quality fast food to the customers. Through customers contact and
excellent relationships, we will meet the needs and wants of the customers wherever
we can. Wow Sarap Fast Food Restaurant will secure sufficient Profits to sustain its
stability and finance future growth. We will add value to our community by
maintaining a friendly and familial work environment.
Core Values
We believe in treating our customers with respect and faith.
We integrate honesty, integrity and business ethics in to all aspects of our business.
Goal
Regional expansion in the field of fast food restaurant and develop a strong
customer relationship.
To build good reputation in the fast food restaurant and become a key player
in the industry.
Scope of Work
Wow Sarap Fast Food restaurant will be giving fast service and cater the need
of the people on their meals, in less than 20 minutes.
Modern Furniture
Air-conditioned area
Unli-Rice Promo
Weaknesses
Lastly, the Commercial Building is also the shopping destination for locals
and tourists in the area. Wow Sarap Restaurant is the alternative for a quick bite
while shopping in the area.
E. Marketing Mix
The definition of Marketing Mix is a set of controllable technical marketing
tools that a firm blends to gainthe response it wants in their target customers. The
tools are basically Product, Promotion, Place and Price.
1. Product
a. Product Variety
Wow Sarap offers a wide variety of products to its customers. Since it
starting point it had offered Inihaw fast foods with the inclusion of side
freebies like unli rice. Chicken Inasal, Barbeque, Grilled Bangus, Liempo, and
Grilled Porkchop will be our main dish. Alcoholic drinks will not be sold, as
Wow Sarap Restaurant promotes healthy and positive Filipino lifestyle.
Instead Soft drinks and iced tea will be served.
b. Quality
The definition of quality means the totality of the feature
and characteristics of a product that satisfy the customer’s needs.
Wow Sarap offers good quality food to its customers in order to
compete with the market competitors. It is observed with keen interested by
the staff and is maintained with the help of highly efficient ingredients and
tools used in the cooking of the product.
c. Features
The main features of Wow Sarap are their low and affordable prices
which is favorable to its target customers as they are mostly middle class
families or students and the variety of dishes to available in the menu, which
focuses on grilled foods.
d. Services
The definition of Services is the benefit or the product that the
producer can offer to its customer that is intangible.
Wow Sarap Restaurant offers a wide variety of services. They offer
exceptional service to customers with their maintenance with its high quality
of food. The business will also offer taking home orders with a free delivery
so that customers will appreciate and love more the business
2. Prices of Wow Sarap
a. List Price
Like any other fast food restaurants, Wow Sarap also has an organized
price list for their customers.
Prices
Menu
Year 1 Year 2 (20%) Year 3 (10%)
Drinks:
Pepsi/ Royal/
Mountain Dew
P12 P14.40 13.20
12 ounce
Pineapple Juice/
Iced Tea
P20 P24 P22
1 Glass
All dishes are served with rice and 1 softdrink, as for the Family box
and Inihaw box, 5 softdrinks are given. A customer can also order additional
softdrink if they wish.
b. Discounts
c. Payment Period
The definition of Payment Period is when payment will be made. The
payment that the business will implement is the customers must pay after
ordering in the “Pay as you Order”
4. Promotion
a. Advertising
Grilled Bangus will be grilled directly over the charcoal or gas grill
without wrapping it in foil. chopped vegetables are combined and stuffed
inside the fish before grilling.
All dish would be served with rice and vegetables. Furthermore, Unli-
rice promo will be applied in the business.
2. Packaging
Food packages will be offered for family sized orders and group sized
orders. Family Boxes, Inihaw Boxes which offer more products but within
a smaller price range. Family Boxes will contain 5 chicken inasal, Inihaw
boxes will contain 5 chicken Inasal, 5 pieces barbeque, 1 piece grilled bangus
and liempo.
B. Pricing Strategy
The primary goal of every business is profit maximization and so we must consider
how we price our product and services. However, the financial stability of its target market
would also be taken into consideration so as to give our customers affordable foods. The
prices will be based on the fast food chain MangInasal and Chic n Boy, which is the cheapest
fast food restaurant similar to the business.
C. Distribution Strategy
Our product and services will be distributed through direct distribution wherein
people will avail of our products and services in our establishment. Customers will either
dine in or take out foods within the establishment. Delivery services is also available, wherein
customers can call the business and order at their home while the business will deliver the
ordered products at their houses.
D. Promotions Strategy and Specific Activities
The business will be advertised even before it will operate. The advertisement will be
done through the flyers, facebook page, and tarpaulin so that the people will know of its
existence. The tarpaulin will be posted to the business sites and to places which are open for
posting, flyers also would be distributed and posted especially during the starting of the
operation of the business.
a. Tarpaulin- Tarpaulins will contain some information about our business and it will be
hanged and posted in public places so that people will be able to see it and it will help
persuade them to go see our business and try our services for themselves.
b. Flyers- By using flyers, we will be able to promote our business. The flyers will contain
important details about our proposed business. This flyer will be distributed freely to any
individual and will also be posted in places where many people can see it and for them to
know of our existence.
Vehicle 80 000
Utilities Expense (electric, Water) 324 000 100 000 100 000
Total Forecasted Net Fund 3 536 450 2 650 391 2 013 550
Table 2. Projected Sales for the Year 2019 (Amounts in Philippine Peso)
Table 5. Timetable
Wow Sarap
Fast Food Restaurant
Timetable
2018 2019
Activities Feb- May- July- Oct.- Jan- Mar.- June- Oct- Dec.
April June Sept. Dec. Feb. May Sept Nov
Planning of business
Release of funds
Legal registration
Purchase of equipment
Start of construction of
the building
Collection of raw
materials
Recruitment and
training of employees
Advertisement
Start of operation
Less: COGS
Beginning Inventory 1 000 000
Add: Purchases 3 608 720
Less: COGS
Beginning Inventory 1 000 000
Add: Purchases 4 514 520
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