Wednesday, March 6, 2019
Planet Hollywoo
merchandising 520 Marketing Plan for sit downellite Hollywood Midterm Report Marwan Soliman Noha Abdel Fayad Hadil Abdel Fayad May Abdeen parry of Contents Comp each Background2 Mission Statement2 Company History2 built in bed compendium2 Environmental S thr championning2 Macro surroundingsal Forces2 micro environmental Forces2 belligerent Analysis2 SWOT Analysis2 Market Segmentation2 Demographic2 Psychographic2 behavioral2 Targeting2 Targeting Strategy2 Problem Statement2 Works Cited2 Company Background artificial satellite Hollywood is a denounce for take away places, bars, casinos, and resorts that was established in 1991 by its founder Robert Earl and his partners and stockholders Bruce Willis and Sylvester S tallishone. satellite Hollywood distinguishes itself with the whimsical experience it offers its clients from gaming and live amusement at the Hollywood hoagiejectd venues. The centralise of this market placeing designing is the orbiter Hollywood eat ing places that resemble the Hollywood rapture with its unsubtle collection of Hollywood props and souvenirs from top rated movies and TV shows that ornament the place and the wide collection of items available for sale. planet Hollywood strives to act as a creator and developer of consumer brands that take prefer of the universal appeal of movies, sports, and opposite fun-establish alkalis The unforgettable dining experience at artificial satellite Hollywood is correct with its delicious diverse menu of salads, burgers, and much more than than. Currently, planet Hollywood has cardinal runneres all e actuallywhere the world at which three of these atomic procedure 18 dictated in the in-between eastmost (Dubai, Reyadh, and Kuwait). Mission Statement Planet Hollywood global Inc. s a guest-driven guild committed to providing its guests with an exciting intimate look at Hollywood, combining with exceptional diet, heavy(p) merchandise and hardline servicing in e very one of its restaurants. It recognize that its success is achieved by hiring, retaining and developing feeling associates. We accept a passion for our guests We cargon some our associates We do not compromise our graduate(prenominal) standards We maintain a esthesis of urgency in everything we do We continuously strive to improve We atomic number 18 team players Company HistoryPlanet Hollywood International Inc. is the dogmatic body for entertainment-based theme restaurants located without the world. Planet Hollywood International also runs louver Official all Star Cafe restaurants, a chain that focuses on professional sports and follows a sports-bar theme, and several Cool Planet Ice Cream shops. The worry of the company is currently foc exploitation on its core business of restaurants. The first Planet Hollywood restaurant undefended in parvenue York urban center in 1991 however the events wind to its line started 20 yrs in the beginning that date.In 1972, R obert Earl clear a dinner theatre in London called The Beefeater that offered its customers a dining experience with a mediaeval theme. Earl earned a degree in glowingel and restaurant management the University of Surrey. He was passionate about creating entertainment-based restaurants such(prenominal) as Talk of London, Shakespeares Tavern, and The cockney Club. In the 1980s, Earl foresaw the promising American markets that would guarantee the success of his entertainment-themed restaurants. He started off with selling his concepts to the developers of a then- brand-new Disney World called EPCOT Center.Although the deal was un favored, Earl decided to stay in Florida at which he undetermined several restaurants focusing on medieval and Wild West ideas until he sold it to a larger prop company in the mid-1980s. In 1989, Earl was appointed the new chief administrator for the fractious carry operation under Mecca Leisure. The impregnable throw off Cafe chain is a symphony indus give-based theme restaurants. With his new position, Earl created 20 Hard contention Cafes in the eastern region. Meanwhile, Earl partnered with Keith Barish, a film producer at that time to open the first Planet Hollywood mentioned earlier.Barish and Earl looked at music, movies, and sports as means that bridge differences of language and early(a) differences between volume sustentation in contrasting places. Planet Hollywood witnessed immediate success its museum-like decorations and its outstanding merchandising plan seduceed millions of customers. Earl and Barish asked celebrities such as Arnold Schwarzenegger, Sylvester Stallone, Bruce Willis, Demi Moore, and Whoopi Goldberg to act as restaurants owners at which they would pass by their restaurant to check in and mingle briefly with their fans.A category later Earl left Mecca Leisure to plan the worldwide introduction of Planet Hollywood restaurants actors Don Johnson and his then wife Melanie Griffith, director J ohn Hughes, comedienne Roseanne, and actors gobbler Arnold, Wesley Snipes, and Danny Glover became investors by then. By mid-1993, Planet Hollywood International had opened its branches in London and southern California and was completing the construction of a quartern branch in Chicago. Architect David Rock intimately was hired to design the new branches. The branches were created to cigarette more than 200 mickle.Each branch contained film props and floor layouts that were unequalled to their locations. Dorothys dress from The Wizard of Oz, the pottery wheel utilize by Demi Moore and Patrick Swayze in Ghost, a replica of the castle from Dracula, the Batmobile, the Flintstone buggy, and a plastic model of the spirit slab that was pulverized by Stallone in the film Rocky were all items gravel on display in diverse locations. Celebrities hand prints walls and big-screen televisions to play promotional clips for up attack movies were notwithstanding attractions found at Plane t Hollywood.Peter Morton Hard Rock International executive at that time filed a suit against Earl and Planet Hollywood claiming that Earl had copied that Hard Rock concept. Earl dismissed the charges and the case against Planet Hollywood never amounted to much in court. In addition, Planet Hollywood proceed its move up the ladder of success and became healthy-known in the theme restaurant business. By the end of 1993, Planet Hollywood expanded to deem eleven new branches in disparate states. The opening of each branch was a major(ip) gala event that attracted crowds who were eager to see celebrities and different historied media figures.Each new branch generated revenues worth $ 15 million. Selling licence Planet Hollywood merchandise in addition to serving fodder and drinks from a diverse menu were a major attraction of customers. see rings, T-shirts, sweatshirts, watches, and leather coats are examples of the items sold at the restaurants. The merchandize selling not howev er boosted the revenues by differentiating Planet Hollywood besides its generality pushed it to open separate retail stores called Planet Hollywood Superstores, a move that further increased plosive consonantical profits.In 1994, Planet Hollywood continued expanding to open branches worldwide. The company also began establishing other theme-restaurant ideas such as the Official All Star Cafe. Barish and Earl realized the peoples key interest in celebrities tone and continued expanding based on that. They continued recruiting professional sports figures to invest such as field hockey great Wayne Gretzky, football icon Joe Montana, and basketball superstar Shaquille ONeal. Also in 1994, the company opened what would become its highest income generator branch at Las Vegas. The Las Vegas restaurant was designed to seat .The branches opening drew more than 10,000 people who sat on stadium-like bleachers to watch the stars arrivals at the event. latishr that grade, another 500-sea ter of Planet Hollywood opened in Orlandos Disney World. With that branch, Earl and Barish became officially the owners of the two highest-profit generating restaurants in the United States. In 1996 the company decided to go public not only by offering stocks but the company also convinced MBNA to issue Planet Hollywood VISA credit cards that gave cardholders priority seating at the restaurants.A joint venture with ITT Corporation was also established to develop Planet Hollywood casinos in Las Vegas and Atlantic City. Furthermore, Marvel Entertainment Group, Inc. and Planet Hollywood International decided to develop comic book character-based restaurant theme calling it Marvel Mania. Ideas for a new concept called Chefs of the World, which was to feature a star-studded culinary staff, also began to rise. Celebrity support received through their self- obligate and investment in the fetter made Planet Hollywood and All Stars Cafe unique by all standards. In only five years the comp any had grown from one $3. million restaurant in New York to an al intimately $300 million operation with approximately 50 units throughout the world. Situation Analysis The dining do in Egypt has witnessed a colossal change in the last few years . eat out became part of the lifestyle of Egyptians who can enjoy such leisure. race are constantly seeking new dining compartments, especially international ones they try during their trips abroad, they see in foreign movies or hear about from friends. During this period of changes, several international diners opened in Egypt and have proven to be successfully attracting customers.Although different people are always seeking different styles such as Authentic Egyptian, Italian, Shisha serving cafes, quick drinking chocolate serving cafes, each sector proved to find their own clientele. Places such as Hardrock Cafe, Apple Bees and Rainforest Cafe have their own successful cases that should be mistakable to Planet Hollywoods. Egypti ans in general are unremarkably very interested in celebrities and their lives. Planet Hollywood can wholesome(p) behaved depend on this point in its marketing plan and focus. Environmental Scanning Macro environmental Forces Socio-cultural FactorsThere are more than 50 million people between the ages of 15 and 45 in Egypt which is approximately 65% of the commonwealth . This, as a result, has a great disturb on the nature of the food service sales. The young generation has changing lifestyles and eating habits. They chiefly go out for dinning as it is considered a showtime of entertainment. As such, the demand for the food services represented in solid food restaurants, informal dining, cafes/bars, has increased tremendously. However, in Egypt, some(prenominal) men and women are usually seeking places where then can smoke shisha.Usually, international chains forbid smoking of shisha in their restaurants as part of their regulations to nullify health and environmental h azards. Economic Factor The Egyptian population is mainly divided into two secernes of either rich or poor. The middle class in between is demising. According to the World Bank Statistics of 2005, the income sell jockstrap by the highest 20% of the Egyptian population is 41. 5% while the share of the next 20% is only 12. 6%. It is believed that this gap is not getting any smaller if not getting wider.The top 20% of the population are consistent with their dining out experience as eating out is considered a main sources of entertainment. Political Factors With the political instability in the country since the January 25th events, dining out is considered one of the few sources of entertainment that remained stable since other sources of entertainment such as parties and concerts are no longer as available as before. Restaurants are more plausibly to any new expansions making it the right time for Planet Hollywood to open and establish a upright solid base in Egypt.However, thi s political instability also represents a risk to any new business especially with the lack of security witnessed. This security issue give have to be accounted for in choosing the location and operation of the restaurant. Environmental Factors activate pollution in Egypt and especially in Cairo is a consequence of serious concern. The air quality in downtown Cairo is more than 10 to 100 times of acceptable world standards. In addition, the layout of tall buildings and narrow streets prevent the pollution from escaping and result in a wide and grey air.As a result, open-air restaurants in some areas, especially downtown Cairo and high density areas, may face some problems and may not be convenient all the time. Therefore, people are aspect more for indoor recreation. Another concern is the availability of high quality raw material in Egypt. Due to the lack of training and education, on that point are a lot of ill-timed agricultural practices, poor hygiene at all stages of food chain, absence of preventive controls in food processing and preparation operations.In addition, misuse of chemicals, raw materials contamination, inadequate or improper storage are also concerns for the food industry in Egypt. such a situation highlights the importance of a high quality control process that should be implement in any restaurant. Technological Factors hatful now have access to the internet all the time. They became more demanding and destiny to follow a certain lifestyle. They know exactly what they are expression for and where they can get which as a result creates a operative challenge in terms of meeting demands and defeating competition.Yet, this is a good probability since marketing can now be done easily using cheap online campaigns reaching the caned customers. Micro environmental Forces Employees Employees are the p furiouso of any place, their attitude and commitment directly affects the restaurants temperament and customer perception of the place. Research has shown that 70% of customers return to a restaurant is usually related to the service and their positive experiences with employees 68% of defecting customers leave due to disconfirming employee attitudes.Therefore, Planet Hollywoods employees should be experienced and passionate. They should receive fix trainings and should always be motivated to do their best. In addition, they allow be closely monitored to gurantee that the customers are always satisfied. Suppliers Quality and freshness are the most important factors of the food served in any restaurant. Therefore, reliable food service suppliers take part in the success of any restaurant. Planet Hollywood testament seek suppliers that will provide high quality products with on time consistent delivery.Our strategy will be to create a partnership-like relationship with suppliers to guarentee the success of the end product. Customers Planet Hollywoods targeted clientel is already present in Egypt and is curr ently waiting for such an international diner to open in Egypts biggest cities such as Cairo, Alexandria and Sharm El tribal sheikh. Our clients would be 15-35 year old men and women seeking a luxurious withal afforadable dinning experience. Locations Prime locations that are easily reached with suffiecient parking places should be sought.Currently, big shop malls and diners concentrations are considered the places-to-be by Egyptians. Locations such as City Stars, Mall of Arabia, New Cairo and 6th of October cities should be checked for potential locations. Competitive Analysis The Egyptian market is very competitive as it consists of many foodservice companies with governing players that make it hard for small operators to succeed. This governance is due to the brands already having good grounds internationally, in addition to the huge advertising and marketing plans.Below is a list of the major competitors for Planet Hollywood. 1. Americana Egyptian Co for international touristi c projects (TGI Fridays) commencement established in 1964 as a small trading company based in Kuwait, Amricana became the most successful restaurant operator in the Middle East that owns around 650 restaurants. Americana is a master franchisee to several leading international entities such as Hardees, Pizza Hut, KFC, TGI Fridays, Costa Cafe and Baskin-Robbins. TGI Fridays is the main brand that would present a competition to Planet Hollywood. Competitive advantage Fierce advertising and marketing plans for all its brands along with major offers and promotions. * The company has many outlets all over Egypt and is opening more and more each year. 2. Amer Group (Chilis) Started in 1993 by introducing Chilis, the famous American restaurant chain to Egypt and the Middle East, Amer Group expanded over the years to introduce more restaurants with a variety of cuisines such as Johnny Carinos, Studio Masretc. Chilis will be one of the major competitors for Planet Hollywood. Competitive adva ntage * high gear market penetration with many restaurants all over Egypt and in all the hot blots. Amer Group has managed to maintain a very good reputation among Egyptians through its many projects in different industries as well as very aggressive marketing plans. The name of the restaurants is directly related to the group which helped them to easily achieve customer loyalty. * Casual line that fits both youth and families. 3. Hard Rock Cafe Established in 1971 in London, Hard Rock Cafe has over 172 venues in more than 51 countries around the world. It opened its branch in Sharm el sheikh in 1998 in Naema embayment it also has one in garden city Cairo, another in Hurghada, and it is planning to open one soon in Nabe.It offers a wide selection of burgers, barbeques, and steaks, along with a variety of desserts and drinks. Internationally it is known to be among the top competitors for Planet Hollywood. Competitive advantages * It has a very good reputation worldwide that make s it an attractive place for young coming(a) population, and also for tourists coming to Egypt thats why it is very successful in Sharm el Sheikh and Hurghada. * They focus on their employees and treat them like a family and create an environment of fun where the employees look forward to come to work. They also focus on customers making sure that they deliver unique entertainment and dining experience. * Their music mix is very hot and very entertaining which makes Hardrock cafe the number one destination for outgoing youth with passion for music. 4. Planet Africa spot of the Momen group, Planet Africa was established in December 2004 in Cairo and it is considered the first themed restaurant in Egypt. The restaurant has the design of a jungle with African merchandise and souvenirs available at the entrance. Planet Africa offers a wide variety of International cuisine. Competitive advantage First themed restaurant in Egypt and it is Egyptian so it attracts patriotic customers. * Ideal for families as the atmosphere is very kids friendly. * Reasonable prices relative to the portions and quality of food. 5. Sequoia With only one branch in Zamalek, Sequoia is the favorite restaurant for high end, outgoing young people. It offers a wide range of Egyptian, Lebanese, Syrian, Italian cuisines as well as a very good sushi menu. The place also offers alcohols as well as water pipes. Competitive advantages * Sequoia is located in Zamalek with a very nice view of the Nile. Considered a hot spot among classy young population. * Sequoia hosts very successful events during Ramadan, New course of instructions and holidays. * Suits all tastes as it offers different types of cuisines. 6. Rainforest Rainforest opened in Egypt in 2008 by Wataniya Company for operating restaurants, the leading company in restaurant management in the Middle East, at the City Stars Mall. The design of the place is like a jungle with all types of animals. The high technology fitted into the des ign changes the sounds of animals every 10 minutes through CDs and in that respect is a thunder storm every 30 minutes. Competitive advantage Well known brand world wide * The high tech atmosphere of the jungle simulation makes it very attractive for kids and families. * Very good quality of food. SWOT Analysis Strengths * fond popular name among divers(a) groups of the targeted market segment. * Branches already exists in nearby countries such as Dubai, Kwait and Riyad, with similar culture and menu adjustments. * Offers a variety of food that is already beaten(prenominal) and loved by the Egyptian population. * Well known for tourists visiting Egypt. * Strong established system of management that could be easily trained and implemented among local employees. Availability of kids menu and kids friendly atmosphere. * Ability to host both small and large events as well as offer alfresco catering. Weaknesses * Requires huge investment to find and build a branch that would be loc ated in a relatively hot spot compared to competitors as well as big enough to maintain the restaurant image worldwide. * Prices are relatively high compared to some of the major competitors Opportunities * Egypt is a huge market that is now welcoming any new investment aft(prenominal) the recession that occurred after the 25th of January events. Dinning out is now one of the necessities of life due to the casual lifestyle of most of the young Egyptians as well as families. * The trend of hosting parties and events outside is becoming more and more popular among Egyptians Threats * Fierce and well known competitors that use excellent promotional techniques. * chance of unwelcoming an Americanized restaurant * After the 25th January events, Egypt became unstable both economically and politically which makes it a risky environment for any new business. Market SegmentationDifferent strategies were used to segment the Egyptian market to identify our target market. Demographic develo p Household Income Income is a very important factor in our naval division process as Planet Hollywood is known to be an big-ticket(prenominal) high class restaurant. The following segments are recognized * Low ? EGP 12000/year * Low-Medium EGP 12,000/year EGP 24,000/year * Medium EGP 24,000/year EGP 120,000/year * Medium-High EGP 120,000 EGP 240,000/year * High ? EGP 240,000/yea Occupation * Students * Workers * Employees * Middle Managers * Executives * Professionals Small-business owners * Large-business owners Social Class Even though tender class perception is directly linked to the income level of the family, but it is also influenced by the family background which is a major contributor in determining the social class. There are three basic social classes in Egypt Class A, Class B and Class C with sub categorization in each class (e. g B1, B2 and B3) . Nonetheless, it is apparent, as mentioned before that Class B is diminishing. Marital Status The marital status is acc ount as follows * Single 37. 31% * Married 62. 69% Psychographic LifestyleDifferent people have different lifestyle patterns that change at different stages of life. According to the assessment Lifestyle Model, Lifestyle has four main stages identified as follows * Dependent (ex. Children living with their parents) * Pre-family (ex. With their own households but dont have children) * Family (ex. Parents with at least one child) * Late (ex. Parents with children who left their homes) A further sub-classification is by segmenting the above into outgoing and non-outgoing. Motives Planet Hollywood will be providing a unique kind of entertainment for its customers that is not available at any other competitors.Using the asset of celebrities investment in Planet Hollywood, customers ability find various famous figures when dining might encourage customers to go. In addition, being able to position the brand as a hot spot for the different targeted segment will encourage customers to go in order to fit in and keep up with the social groups and standards. Behavioral Brand Loyalty Planet Hollywood is a strong popular name and can easily develop brand-loyal customers Benefit expectations Customers are grouped gibe to similarities in the benefits that they look for in specific products or services.Benefits as location, cleanliness, social image, food service, quality, and hospitality. Use frequency Customers are segmented according to their frequency of dinning outdoors as follows * Rarely, occasionally * once per month * in two ways per month * once per week * multiple times per week. Targeting Theme restaurants attract patrons based on mainly the overall dining experience and the entertainment value received. The chosen theme dictates the interior decor, music, type of food, the food demo and the appearances of the staff. Theme restaurants also sell licensed merchandise as souvenirs.For our target market selection, we have considered several segments from which w e could come up with Planet Hollywood possible target diners the most relevant segmentation schemes were age, income, social class, and lifestyle. shape up Household income Social Class Lifestyle 0 15 ? EGP 12000/year Lower Dependant 15 -45 EGP 12,000/year EGP 24,000/year Lower Middle Pre-family 45-60 EGP 24,000/year EGP 120,000/year Upper Middle Family 60-80 EGP 120,000 EGP 240,000/year Upper Late EGP 240,000/year Targeting StrategyAs for our target strategy, we will be following the differentiation strategy. We will be designing more than one promotional message with which we will be providing each segment with its specific needs and communicating the different related benefits. Problem Statement Planet Hollywood is a well known international brand, offering a unique authentic Hollywood experience for its customers. The introduction of Planet Hollywood in Egypt will be a challenging process as it should emphasize on the well established brand and the unique experience offe red by its famous themed restaurant.Dining service offers a huge market in Egypt, mainly because of the changing socio-cultural behaviors of people especially the tendency to be more outgoing. However, the proper targeting of customers and positioning of the restaurant are of most important in establishing the differentiated strategy of Planet Hollywood. Works Cited (n. d. ). Retrieved November 10, 2011, from AMEinfo. com The ultimate Middle East business resource www. ameinfo. com FUNDINGUNIVERSE. (n. d. ). Retrieved November 10, 2011, from Planet Hollywood International, Inc. http//www. fundinguniverse. om/company-histories/Planet-Hollywood-International-Inc-company-History1. hypertext markup language Hard Rock. (n. d. ). Retrieved November 10, 2011, from Hard Rock History http//www. hardrock. com/ unified/ market segmentation psychographic segmentation . (n. d. ). Retrieved November 10, 2011, from Tutor2u http//tutor2u. net/business/marketing/segmentation-psychographic. html Pl anet Hollywood International, I. (2006, July 6). The PH Insider. Retrieved October 27, 2011, from http//www. planethollywoodintl. com/privacy. php PLANNING marketing STRATEGY AND PLANNING. (n. d. ).Retrieved November 10, 2011, from http//www. wadsworthmedia. com/marketing/sample_chapters/766816052_ch07. pdf Population. (n. d. ). Retrieved November 10, 2011, from Egypt State Information Service http//www. sis. gov. eg/En/LastPage. aspx? Category_ID=19 Restaurants. (2010). Retrieved November 10, 2011, from Amer Group memory http//www. amer-group. com/Restaurants. aspx 2 . (Planet Hollywood International, 2006) 3 . (FUNDINGUNIVERSE) 4 . (Egypt, 2009) 5 . (http//web. worldbank. org) 6 .Hassanein, Salah. note Pollution in Cairo The Cost. Arab world books. 7 . Egyptian sustenance Safety Information Center (EFSIC) 8 . Egyptian Food Safety Information Center (EFSIC) 9 . (Jim Heisler, Ph. D. , senior vp, Stakeholder Relationship Consulting) 10 . (Euromonitor International, August 2008) 11 . (Restaurants, 2010) 12 . (Hard Rock) 13 . (AMEinfo. com The ultimate Middle East business resource) 14 . (Population) 15 . (market segmentation psychographic segmentation ) 16 . (PLANNING MARKETING STRATEGY AND PLANNING) d
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