Fast Food Restaurant Business Plan Term Paper Example | Topics and Well Written Essays - 3500 words

Fast Food Restaurant Business Plan - Term Paper Example This paper deals with the marketing plan of Minnesota Fast Food Restaurant which is a small fast food outlet at Minnesota and has been in operations for last five years. The unit is intending to transform itself into a proper fast food restaurant by means of innovative and resourceful strategies. This marketing plan is based on both the qualitative and quantitative approaches to the collection of data. The qualitative approach will include the use of observations and focus on statistics regarding fast food industry. The quantitative approach will involve the use journals, magazines, and online stuff from different websites. Presently the point is offering few local fast food items to the general public of Cottage Grove. This business plan has been made after making a comprehensive research and evaluating a variety of issues concerning fast food restaurant industry in Minnesota in the city of Cottage Grove. The main purpose and scope of this plan is to provide particular information a bout the industry and to highlight the critical areas for successful launching of a new fast food restaurant in Minnesota. The data discussed in this business plan is based on some certain facts and has been collected through number of sources. A careful attempt has been made to present real time data, however, this information may change at any time due to occurrence of any changes in the target market, and thus the actual outcomes may differ from the projected results. 2. OBJECTIVES Major objectives of Minnesota Fast Food Restaurant with respect to financial, marketing, and societal perspectives are: To increase the recognition of brand image of Minnesota Fast Food Restaurant To increase the market share of Minnesota Fast Food Restaurant To make the target market aware of the new brands and make sure to convince them to come and enjoy these brands time and again Objectives Market share (in Cottage Grave) 2013 to 2014 05-07% By the end of 2015 07-10% 3. MISSION STATEMENTS Generatio n of revenue and profit is the main purpose of any organization and same will be for Minnesota Fast Food Restaurant. Since it’s a service provider unit, therefore, customer service is the base of its existence. Our aim is to become the first choice of the customers and make them staying with us time and again. We believe in PEARL strategy as our core value i.e. Passion for excellence in doing everything Execute with positive energy and urgency Accountable for growth in customer satisfaction and profitability Recognize the achievement of others and have fun doing it Listen and more importantly respond to the voice of customer 4. KEY TO SUCCESS The key points for successful launching of our products and services are: Developing of a corporate strategy regarding the management of fast food and meeting the changing tastes of consumer behaviour Unique and innovative menu that may give us a competitive edge on