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Essay / Research Paper Abstract
This 12 page paper is a marketing plan for Conrad Restaurants in London. The paper looks at the company, considers their target market, and how they may be approached to gain initial custom and the potential use of relationship marketing to maximise the value of the customers. The paper then considers the important stakeholders in the marketing plan and a brief customer lifetime value analysis. The bibliography cites 7 sources.
Page Count:
12 pages (~225 words per page)
File: TS14_TEconrar.rtf
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Unformatted sample text from the term paper:
1. Introduction The restaurant trade has matured over the last decade, consumer tastes have adapted and the level
of complexity in the industry has increased. The industry as a whole is still in a period of growth, in the UK the entire restaurant and caf? trade increased by
1.9% between 2003 and 2004, reaching a value of ?14.4 billion in 2004 (Euromonitor, 2005). The market is expected to grow by a further 8.4% between 2004 and 2009 (Euromonitor,
2005). However, like any industry the gains will not be evenly spread through the competitors or the areas. In metropolitan areas there are clusterings of full service restaurants and
although this clustering helps to attract more customers it also intensifies the level of competition. Conan Restaurants have to operate in this environment and find ways of competing and retiring
their identity and differentiation. The market in which their core operations take place; London, is typical of the increasingly competitive environment all the restaurants compete within. During the 1980s there
was 1 restaurant for every 845 residents, by 1990 this had fallen to only 645 residents for each full service restaurant and now the ratio is 600 residents for every
restaurant. The area has a high level of non residents which explains the very low ratios but this still shows a pattern of more restaurants opening. 1.1 Conran Restaurants Ltd
Conran Restaurants was founded in 1991 by Terence Conran and now consists of a chain of 30 restaurants (Conran, 2006). The latest restaurant to be opened was in December
2005 at the Royal Exchange, London. This was a 70 seat restaurant serving French cuisine (Caterer & Hotelkeeper, 2005). The chain of the restaurants are made up of a range
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