Reference no: EM133229278
Assignment - Red Lobster Essay
Description - Review the following case purchased from the Harvard Business School coursepack:
Red Lobster - Red Lobster, a 40-year old chain of seafood restaurants, has just completed some market research revealing an opportunity to shift their target customer segment. The chain is in the final stages of a 10-year repositioning plan under President Kim Lopdrup. When he took over as President in 2004, the chain was closing restaurants, customer satisfaction was modest, and only deep discounting was preventing significant sales declines.
By 2010, even in a recession, the fortunes of the chain are improving as the repositioning efforts seem to be paying off. Now, a recently commissioned market research study presents Lopdrup with a new opportunity. The study has revealed, unexpectedly, that almost 25% of Red Lobster's customers are highly profitable "Experientials," people coming for a "good evening out" rather than Red Lobster's traditional core customer who came because of a craving for seafood.
Should this news cause Lopdrup to do anything differently?
Following your review of this case and the Harvard core reading "Consumer Behavior and the Buying Process," prepare responses to the following case questions:
1. How has Red Lobster's positioning changed over time? Do the current ads reflect the repositioning that Lopdrup and his team envisioned when their efforts began in 2004?
2. What were the most effective elements in Lopdrup's repositioning plan (initiated in 2004)?
3. Compute restaurant level profitability under the following scenario: The mix of patrons shifts with the restaurant gaining 2,000 new unique Experiential customers, but losing 1,000 Indulgent customers and 1,000 Frugal customers.
4. Should Lopdrup make Experentials the target segment and modify Red Lobster's positioning accordingly? If so, how should he change its marketing mix (i.e. product, price, place, and promotion)?
In your responses to the case questions, support your answers with content from the Harvard core reading.
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