In 1960s the famous 4P’s of Restaurant Marketing Mix created and studied in all over the worlds as the basics components and – of course – the skeleton of all marketing activities. Currently, the change is all over to world with the changing technology. Businessman are running after to catch the new trends, to have better up-to-date business in order not to stay behind other businesses.
The first restaurant marketing 4P’s include:
Product: WHAT exactly are you selling in your food business?
Price: HOW much a potential customer wants to pay for the value of your product?
Place: WHERE are you selling? Moreover, WHERE you are available?
Promotion: HOW are you selling it? HOW do you build awareness?
Today’s customers do not want only your product. They are also looking for an experience to live with your product. Think about a restaurant that you never forget how they served your food in a different and unforgettable way.
The price your customers pay, actually is more than just money. They invest time, energy and emotions for your product. To think all of them altogether is bringing us to a new level of understanding their expectations and we creat an exchange through them.
In today’s world, we can see everywhere an advertisement. In blog post, social media, tv or even in shows and movies. The role of promotion is not only advertisement now, also to create value and messages to reflect your brand with overall availability of your brand in everywhere (more than just your shop or limited promotion channels). We also have brand advocators, who are real people who like and share their opinions about our brand. With evangelism, we can definitely can tell that promotion got a new level.
In short, 4E applied right, this experiential marketing brings more loyal customers and advocates to your business and this is quite important in restaurant marketing…
If you want to know more, please do not hesitate to contact us.