This essay Marketing analysis of new enterprises has a total of 3048 words and 19 pages.
marketing analysis of new enterprises
Skittles is a variety entertainment and dining establishment located in Washington, D.C. . Our mission is to provide our patrons with a unique blend of live entertainment while delivering a top quality dining experience. We will do this by emphasizing service excellence and the highest level of performance in all aspects of our operations and services. Our prominent services include live entertainment, ranging in form from comedy to jazz performances to poetry recitals and others. We also offer lunch, dinner, drinks and dancing to our customers.
The restaurant is operated by its several partners who have an equal share in ownership. The partners are Tracy Jackson, James Johnson, Sonja Dawkins, Kevin Brown and Steffi Carr. The restaurant is ideally located on the D.C. waterfront. There it will be easily accessible to a large cross section of consumers and make it possible to provide patrons with a safe and controlled environment.
Our establishment brings a relatively new concept to the Districts restaurant industry. What we provide is an everchanging mix of live entertainment to customers while serving all of their drinking and dining needs as well. We are somewhat of a one stop, night on the town, in that we provide not only the drinking and dining needs of person going out but we also provide, in the same location and depending on the night, everything from dancing to live music performances to
a night of comedy entertainment. Because of its uniqueness to the marketplace in D.C., Skittles has an excellent opportunity to establish itself and become a force in the restaurant/entertainment community in the District. This is partly because of the limited direct competition the company has to face. Although direct competition is limited, there are several establishments which we feel will pose competition to us in the market. They include Blues Alley, Hogates, H.I. Ribsters, Phillips, Gang Plank, The Wharf, and Club 721.
Despite the threats which the competition poses to the restaurant, we are still very confident in the ability of this concept and restaurant to thrive and succeed in the District.
We, the owners of Skittles, are very enthusiastic about our chances of success with this new and exciting restaurant concept. Our enthusiasm was bolstered even more by what was revealed to us after performing a situation analysis for the company. The analysis showed that as a company, our strengths and the opportunities that exist, far outweigh our weaknesses and the threats we perceive ourselves having to face. This indicates to us that with hard work and a total team commitment, Skittles will be a definite success. As for the particulars that were revealed through the analysis they are as follows.
First, the businesses internal strengths include the location of the restaurant, because of its convenient access to all the residents in the Metro Area. Another strength is the room for growth that we have as a company, because without it the company would reach its maximum potential in a relatively short time and then have no where to go but down. Also we have a strength in our prices which, for the services and the variety of entertainment we provide, are better than favorable when compared with the competitions prices. Finally, our internal strengths include the variety which we provide for our customers, both in the services and in the entertainment which we deliver.
Next, there are the internal weaknesses that we have as a business and they include, first our inexperience with being managers and operators of a business as well as the inexperience in dealing with the real world, unforeseen problems that are bound to arise with a new business. Secondly, there is the fact that as of yet we don\'t have an established customer base to rely on. Also, we also don\'t have a loyal market of consumers whom we can depend on even during the most difficult economic periods. Finally, there is the fact that we don\'t have the established reputation for service and excellence that some of our competitors may have with the consumers in the area.
Next, the situation analysis turned to the external factors that would be affecting our establishment. These factors include both our opportunities and the threats
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