Steakside Case Analysis

for the business as a whole. Therefore, Steakside, cannot eliminate this expenses because they are vital for the business. If minimizing their cost would affect the quality of their products and services, they must identify the expenses that are not really necessary and find a way to minimize it.

Opportunities and Threats

Macro-Market

Political The minimum wage can be a threat to Steakside because regardless if the sales per day are high or low, they are still required to pay the right amount of wage to their employees, since it is a regulation by the Department of Labor and Employment. On the other hand, giving benefits and compensation to employees such as Phil Health, SSS, and PAGIBIG is an opportunity because it motivates the workers

Their target market are college students and employees. Thus, their buying behavior is sensitive; these buyers choose to purchase affordable food or items rather than expensive ones.

Market

First, Restaurants get a high traffic of customers during lunch time and dinner. Thus, there is an opportunity for the Steakside to have an increase in demand during those times. A lot of students will be going out from the university in order to have something to eat as well as the employees from the government center nearby. Moreover people from the subdivisions sometimes prefer to buy food rather than cooking for themselves.

Second, the food is appropriate for the average classes of people wherein the people can eat a local steak without having a burden in their pocket. More potential customers will be interested and Steakside will have an increase in demand when there are special occasions like Christmas and New Year.

Third, the competitors sell their food for a much higher price than what the Steakside offers. In this case, the customers will be more interested on foods that are affordable yet delicious. Most of the people will look for something that’s not expensive on a daily basis because they just want something healthy and delicious for a

Thus, it cannot be easily located by the potential and new customers

Third, The eating habits of the consumer shifts due to the changing trends in the industry which also gives Steakside an opportunity. A lot of customers will come provided that Steakside will offer different family packages and combo meals which are suitable both for individuals and groups.

Fourth, based on the Steakside’s product cost for porterhouse steaks, Steakside can buy the steak at Php 260 per kilo which gives them an opportunity to offer the meal for a lower price. In this case, more customers will be attracted by a large serving of steak for a much lower price compared to the competitors who are selling imported steaks at a higher price.

Fifth, based on the salary of Steakside’s workers, the chef gets the highest salary among the other workers. Leveraging the chef’s ability to cook and prepare meals may give an opportunity to offer better and delicious meal to the