Reference no: EM13729642

Scenario Essay Questions:

Use the following scenario to answer the essay questions below: You are the marketing expert for a consulting firm hired to develop a marketing plan for a new tourist restaurant in Florida based on a magical fantasy-type theme (think Hogwarts from Harry Potter). The restaurant is similar to other themed restaurants, such as Medieval Times or Capone's found in Orlando, FL, and other tourist destinations, and features a themed menu and entertainment.

Question 1. Feature and Benefit

Part of the marketing plan for the themed restaurant is a feature and benefit analysis.

Describe the concepts of feature and benefit, and define each of the two.

Explain why these concepts are important to a marketing plan with emphasis on why these matter to a consumer.

Provide your client with three features you believe will be important to the restaurant with a benefit for each feature. Be specific.

Question 2. Consumer Behavior

The restaurant owners want to better understand what might motivate tourists to visit the restaurant.

Begin by listing and defining the four types of factors influencing consumer behavior.

Select the two that you believe are most important to the restaurant, and justify your answer with reasoning or examples.

Question 3. Branding

Describe the concept of a brand image, being sure to include the relationship between what the consumer sees or hears and consumer behavior.

Provide your restaurant clients with TWO traits you believe should be part of their brand image, and explain WHY you think the traits are important.

Question 4. Pricing

The restaurant clients have asked your consulting firm to help them establish a pricing strategy.

Describe three pricing strategy options that the restaurant owners might consider. Describe each and under what circumstances they would use them.

Select the strategy that you would recommend and justify your selection. Support your answer with critical reasoning, and describe what outcome you might expect from the selection.

Question 5. Marketing Plan

Your firm has a meeting with the restaurant clients next week, and you have been assigned to prepare a briefing on what they should expect in a marketing plan.

Describe FIVE parts that you would include in the plan and the concept(s) included in each. Be specific and provide enough detail that a non-marketing person can understand the concept.

For each of the five parts you have selected, provide a brief benefit to the client.

Question 6. Segmentation

The client is trying to decide how to segment his target marketing and needs your consulting firm's help.

Describe the concept of segmentation and what benefit(s) he might get from having a segmentation plan.

Provide your client with a list of the types of segmentation factors, and provide three (3) examples of factors you might include in each type.

Question 7. Marketing Mix

You and your staff are using the marketing mix to outline the project.

Begin by listing the 7Ps in the mix, and provide a brief (bullets are acceptable) definition of each.

Select any three you believe are relevant to the project, and give a specific example of how they apply to the restaurant.

Question 8. Breakeven Analysis

The restaurant wants to know how many dinners they must sell to breakeven.

Briefly describe the concept of breakeven analysis (based on unit volume) and why it matters to the restaurant managers.

If you were the restaurant's marketing manager, how would you use the breakeven information?

Using the following information, how many dinners do they need to sell to breakeven?

Fixed costs = $350,000
Price = $45

Unit variable cost = $18

Question 9. Environmental Forces

List the five environmental forces discussed, and briefly describe each of them

Select two that you believe apply to the restaurant scenario. Explain why you believe they apply, and provide an illustrative example.

Describe the concept of the product lifecycle.

Include in your discussion the typical shape of the cycle, the name for each phase, and what marketing activities or objectives you would have in each phase of the cycle if were you a marketing manager.