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Case Study: The Lotus Flower Restaurant

916 Words4 Pages

A bad review could cost the company by reducing its customer base and reducing earnings.
5.3 Marketing Mix
The marketing mix consists of the 4 P’S namely; price, product, place and promotion, which help a company, determine the various forms it can use to market its services and products (Borden, 2012).
Price
The restaurant will offer foods at affordable prices varying between $15 and $35. This will enable the restaurant to aggressively compete with other restaurants in the area.
Product
The Lotus Flower will cater to the needs of its vast customer base by providing different cuisines from various countries. The restaurant will also offer vegetarian options and healthier food options for its health conscious customers.
Place
The Lotus Flower will be located in the wave district in Muscat. The city is highly populated and the wave is considered …show more content…

They will also be middle to high income earning individuals which means that the restaurant will be upscale. The fact that the restaurant will be offering different cuisines to its customers; this will give the restaurant a competitive edge over other restaurants in the area.
6.0 First year Financial Projections
This plan will focus on the financial projections of The Lotus Flower restaurant during the first year of doing business. It is important to note that the earnings in the first few years, especially the first year, will be low. Naturally, because the restaurant will not have a reliable or vast customer base that early in the business. Also the costs to enter the market will be high; however the earnings will rise steadily in time. The financial projections will be determined by the profit and loss projections, break even analysis, and balance sheet and cash flow statements.
6.1 Financing & identification of resources

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