Marketing mix used to run a restaurant?

Answer 1

Product = the food.This restaurant is well known for its exceptionally good food, and people come from far and wide to sample it. The restaurant knows it can sell its food to many customers, and will strive to maintain the quality, plus providing new and seasonal variants.

Place = the restaurant. Obviously this is the establishment where the food can be sourced, served and eaten. It will contain enough seating during busy periods, and will be where the distributors will deliver the raw ingredients and other commodities that go towards what the restaurant provides.

Price = how much it costs. The reputation of this food and the restaurant commands high prices. This is calculated to be the correct value for the food that is served, and satisfies the kind of clientele that is willing to pay for it.

Promotion = the incentives that market the restaurant and its food. The restaurant may be full at the weekends, but special mid-week or early bird offers will provide more covers to make the business viable. The restaurant's reputation will also ensure word-of-mouth referral and other awareness methods.

These 4 Ps are known as the physical elements of the marketing mix, because they are tangible and can be touched; even promotion is apparent through leaflets and coupons advertising their special offers, and price is the monetary value that is exchanged.

People = the waiters, chefs and cleaners. These are the people who are involved in the marketing process, such as serving the customers, cooking the food and cleaning up afterwards, as without them the restaurant would fail to exist. In this case it does not represent the customers.

Processes = the methods of providing the service. How the restaurant is managed is paramount to a good business, as unless everyone involved knows what their functions are to ensure the smooth running of the establishment, none of the customers will receive good service, or the excellent food they expect, or a clean and respectable place to eat it in.

Physical Evidence = the ambiance and décor of the restaurant. The environment of a business, especially which provides a good experience for its customers, is vital to ensure consistency, continuity and good practice. This includes the staff's uniforms, table linen, plates and cutlery, restaurant's decoration and style of the menus, all relevant to continue the reputation of the establishment.

These last 3 Ps are the service elements of the marketing mix, because they represent the intangible side of the business. Service cannot be termed as a touchable commodity, it is what makes or breaks a business, establishes its reputation, style and value, and when performed correctly can ensure continued and escalated success that can be developed to a higher realm