Marketing Plan: Joey’s Seafood Restaurant

 

 

 

 

 

 

 

 

 

 

Marketing Plan: Joey’s Seafood Restaurant

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Institutional Affiliation

 

 

 

 

 

 

 

 

 

 

Table of Contents

  1. Executive Summary. 3
  2. Situational Analysis. 3

2.1 Market Summary. 3

2.1. 1 Market Demographics. 4

2.1.2. Market Trends. 4

2.1.3. Market Growth. 5

2.2. SWOT Analysis. 5

2.2.1 Strengths. 5

2.2.2 Weaknesses. 7

2.2.3 Opportunities. 7

2.2.4 Threats. 8

2.3. Competitor Analysis. 8

  1. Target Market Selection. 9
  2. Positioning. 11

4.1 Desired Image. 11

4.2 Positioning Statement 13

4.3 Perceptual Map. 13

  1. Consumer Behavior. 14

5.1 Level of Customer Involvement 14

5.2 Three main Consumer influences. 14

  1. Marketing Mix. 15

6.1 Product 16

6.2 Price. 16

6.3 Place. 16

6.4 Promotion. 17

6.5 People. 17

6.6. Processes. 18

6.7 Planet 18

References. 19

 

Marketing Plan: Joey’s Seafood Restaurant

1.      Executive Summary

Joey’s seafood restaurants is a Canadian based eatery chain with operations within Canada and franchise stores in North America. It offers a wide menu of seafood favorites that include among others Crab, Mussels, Salmon, Sandwiches, Share, Fish, Chips, Tacos, Shrimp, Calamari and Ocean. The chain intends to launch a new restaurant in Whitby, Ontario and hence the need for a marketing plan to screen the business environment and help the new restaurant come up with effective strategies towards attaining set objectives. The market plan is divided into five different segments including a situational analysis that undertakes a critical analysis of the target market. It also undertakes a SWOT analysis and competitor analysis. Secondly, there is the target market selection, which focuses in the critical examination of the specific population that will be targeted by the new restaurant. Thirdly, there is the positioning section that aims at determining how the new restaurant will be differentiated from the other competitors. Fourthly, the company covers the consumer behavior analysis to determine their level of engagement and also assess their different influencers. Finally, there is the marketing mix, which combines different tools that will be used by the new restaurant in the pursuit of its objectives.

2. Situational Analysis

2.1 Market Summary

As a seaside town in the Durham Region, Whitby is one of the tourist attraction centers with visitors coming from within and outside Ontario (Shurtleff & Aoyagi, 2010). Based on the recent studies, there has been an increase in the number of people visiting Whitby town in search of seafood, fun-making, and in the pursuit of other sea entertaining experiences. This has eventually acted in favor of Whitby town, which is famous for its different luxurious beach restaurants offering sumptuous seafood mainly fish and other fast foods such as chips.

2.1. 1 Market Demographics

Whitby, like other towns in the Durham Region, is characterized by rapidly growing population. This has been attributed to the fact that Whitby is a seaside town and hence a tourist attraction center as people flock to experience the off-shore life and the diverse menu of seafood offered by the many luxurious beach hotels located in the region (Shurtleff & Aoyagi, 2010). To appeal to the diverse needs of all of its residents, the town has well developed and designated facilities, programs, and activity centers. The town is also well known for its friendliness and a raft of events, which promote community involvement and is committed to feeling every person, regardless of background feel appreciated as an integral part of the community. It is this view that the market constitutes of people coming from diverse backgrounds; culturally, economically, socially, religionally, racially, and in which case this cuts across all the age groups.

2.1.2. Market Trends

The fish industry in Whitby is considered as one of the oldest in the town and in which case it is still thriving to this modern day. Many centuries down the line, the fishing industry remains as one of the major sources of income for Whitby (Rotherham, 2014). Although, some of the supermarkets, source their seafood from abroad, recent findings have established that a large number of manufacturers, including the local ones, continue to rely on the daily supply of seafood caught at Whitby. This is especially with reference to the Jumbo scampi, which is a favorite to the locals and visitors. This is a clear indication that the culinary market has continuously been growing in this coastal town.

2.1.3. Market Growth

The modern lifestyle is characterized by an ever evolving world, whereby different people and target customers are looking forward to achieving the best they can in life. Additionally, many economies are progressively achieving major economic growth and development, eventually implying that people are continuously moving towards better living standards and shining financially. They are thus pursuing entertainment as one of the strategies to achieving a fulfilling life. One of the ways that modern customers are using, to appeal to their lives, is nature exploration through tourism and this does not leave out those in Ontario County, including in Whitby characterized by rich customer experience (Rotherham, 2014). With cozy cottages and classy hotels, the tourism industry which directly influences the culinary market, is projected to continuously grow in the coming years. It is in this view that Joey’s restaurants aims at opening another classy restaurant in Whitby to add on its already food outlet eateries in among other locations Cornwall, Brantford, Thunder Bay, and Leamington.

2.2. SWOT Analysis

To have a better understanding of the external and internal factors that will influence Joey’s Restaurant’s operations, it will be vital to undertake a SWOT analysis (Sarsby, 2016). This will involve the analysis of the strengths and opportunities that the restaurant will leverage on as well as the weaknesses and threats that Joey’s seafood Restaurant new opening will have to address.

2.2.1 Strengths

From the outset, Joey’s seafood restaurant is the largest food eatery in Canada after launching its initial operation in 1985 in Calgary (“Joey’s – Home of Canada’s favourite Fish & Chips!, 2017). This means that the restaurants accounts for the largest market share of the Canadian culinary industry. Additionally, this chain of restaurants has an already established strong brand name and especially in Canada considering that it was started in Calgary. Besides its well-known restaurants, within Canada, the chain of restaurants has more than 100 franchise locations in North America implying that it has its presence in relatively large geographical locations (“Joey’s – Home of Canada’s favourite Fish & Chips!, 2017). Its strong financial strengths, which have been growing over the years, provide a good opportunity from where to source the required capital in launching the projected new restaurant outlet in Whitby. Nevertheless, the restaurant leverages on the diverse Canadian population. Different people have diverse culinary needs and the ability of Joey’s seafood restaurants to provide a wide menu gives it an opportunity to meet these diverse needs of its large customer base. Besides fish and other seafood, the chain offers among other foods chips, sandwiches, soups & greens, dessert, and share (“Joey’s – Home of Canada’s favourite Fish & Chips!, 2017). Moreover, Joey’s seafood restaurants enjoy a serene business environment attributed to the continued political stability in Canada, which is also a basis for the continued economic growth and development in the country. The continued economic and political stability in Canada has averted issues of inflation and economic downturns, which would eventually affect the customer buying powers in the Durham Region (Macdonald, 2007). Furthermore, the restaurant is favored by the Canadian regulatory system, which focuses at protecting and promoting the local businesses. Finally, its continued commitment on the corporate social responsibility (CSR) towards proper waste disposal systems, fighting against the carbon emissions, and community engagement among other strategies works in its favor.

2.2.2 Weaknesses

Joey’s requires a limited size of labor size as it considers this the best approach to streamlining its operations and hence efficiency (“Joey’s – Home of Canada’s favourite Fish & Chips!, 2017). Unfortunately, this may work against the restaurant considering the ever increasing number of potential customers. Some of the local supermarkets have been sourcing their food from abroad, eventually limiting the business opportunity for Joey’s. The issue of culture and social diversity is also a concern despite the restaurant offering a wide range menu. Although the chain is well established in other regions in Canada, picking-up and taking over from other market players in Whitby may be challenging and hence take time before it can start making major sales.

2.2.3 Opportunities

Whitby has been cited as one of the regions providing suitable environments for running culinary business due to appropriate and favorable sourcing policies, marketing and promotional activity, innovativeness and diversification, staff training and development practices, as well as outstanding restaurant facilities and appearances among other promotional factors. This presents a great opportunity for the projected move in launching a new restaurant outlet in the town. Another important factor is the fact that technology is continuously bringing about new opportunities with regard to marketing and customer reach. Although Joey’s seafood restaurants are well known for their services, it is critical to embrace the concept of optimizing the modern promotional methods in trying to reach as many potential customers as possible and the social media presents this opportunity (“Joey’s – Home of Canada’s favourite Fish & Chips!, 2017). Finally, the chain has already leveraged on the franchise approach in North America and this has proven profitable. It is in this regard, that the restaurant may consider entering into strategic partnerships with already existing eateries in the town. Alternatively, it can consider districting its products through the franchise model based on the market base it will be serving in Whitby town.

2.2.4 Threats

There is possible stiff competition from other players considering that Whitby is populated with major luxurious and cosy restaurants. In any case, there is no business or industry that is free from rivalry and hence Joey’s new restaurant must brace itself up for the potential competition. Global economic instabilities may affect the Canadian economy and this will eventually influence the culinary industry in Whitby. The issue of changing food prices in the region has the potential of greatly affecting the new restaurant.

2.3. Competitor Analysis

Like in many other industries, the culinary industry, which Joey’s operates, is characterized by stiff competition. This is especially considering that food is a basis necessity and the food industry is highly influenced by the tourism industry, which ranks among the leading sectors in the world. With reference to Joey’s the major direct competitors include among others; Halitbut Time Fish and Chip, Red Lobster, Hooksey’s Fish & Chips, Halibut King, Jasper Fish & Chips, & The Lake Grill. On the other hand, the indirect competitors to Joey’s include the food trucks, supermarkets, food stores, accommodation lounges, and fast food joints. These will include Haleda’s Meats Whitby, Metro supermarket, Foodland Supermarket, and Today’s natural solutions Grocery Store.

The direct competitors, enumerated above, specialize in seafood, fish and chips and based on the customer reviews; they rank in between 4 and 5 star ratings, which is an indication of the inimitable services offered by them. The restaurants have outstanding and cosy fixtures. A large number of these competitor hotels also have spa services, concierge services, 24-hour room service, modern guestrooms, courier services, valet car parking, high speed WiFi services, and others hold currency exchange systems. They offer these services at fairly relatively low prices eventually being attractive centers to the local and international visitors coming to Whitby. This shows that these restaurants are offering accommodation services as opposed to Joey’s. Eventually, this means that the restaurants are able to meet the diverse needs of the target customers in Whitby.

On the other hand, the indirect competitors are able to provide food services to the target customers. The fast food outlets are strategic in the sense that some of the target customers offer a broad range of culinary services besides chips. The supermarkets and the food stores have a broad range of foods that the customers can choose from as compared to the limited menu offered by Joey’s seafood restaurants. Unfortunately, the supermarkets, food stores, and fast food outlets are not offering accommodation services to the large pool of customers visiting the town. Also, the accommodation lounges are unable to provide a wide range of culinary services, which appeals to the wide customer base.

3. Target Market Selection

In order to arrive at the best target market, there will be the utilization of the Segmentation, Targeting, and Positioning (STP) approach. The restaurant will aim at reaching both the primary and the secondary target customers. The primary target market will constitute of the Whitby locals as well as those visiting the town. These will mainly consume the foods from the restaurant while others may consider the take-away option. These will extend to the food stores, supermarkets, and other private entities buying foodstuffs from Joey’s for resale purposes. On the other hand, the secondary buyers will constitute of those clients buying foodstuffs from the above enumerated categories of primary customers. Geographically, it is important noting that Whitby is an expansive seaside town with a land area size of 146.5 square kilometers and a population size of 130,341 people as per the 2014 census. It follows that the new restaurant will be targeting this population spread across this geographical areas constituting of those in the central town and those residing in the suburbs. However, an important point to note is that, the visiting population to the town will also be a target population, eventually increasing the geographical coverage.

Additionally, the demographic segmentation will require the subdivision of the population on the basis of age, income, education levels, social background, gender, and life cycle characterization, occupation, family size, as well as marital status among others. For the purpose of this Whitby based Joey’s restaurant, the target customers will constitute of all the age groups. This is because the products offered are edible to all family members. However, due to the increasing wellness campaigns on health, the chips will mainly be targeted for the X-generation and Millennial who are majorly fond of the junky foods. Almost all cultures support seafood, implying that the target market will comprise of all people coming from diverse social and cultural backgrounds but different flavors will be added to suit the diverse needs. The learned population is largely working in the corporate sector. However, there is also a large number of both educated and the reverse who are operating own businesses. It is in this regard that education will not be a key determinant in the market segmentation process. Whitby’s residents as well as the tourists are both married and unmarried population, implying that the target market will constitute of people from both marital status.

Behaviorally, the target market will be defined by the benefits sought, user status, usage rate, consumer attitude, and brand rate royalty. With reference to the Joey’s target market, it is critical noting that it has an already established brand name in the production of seafood. Additionally, the residents of and the visitors to Whitby are accustomed to belief that most of the foods offered by restaurants on the sea shore are seafood, fish, and chips. Although the locals may be used to these types of foods, the visitors may be looking forward to pursuing some levels of life fulfillment. It is in this view that all will be targeted but different flavors will be offered in order to meet the different needs based on what they are seeking for. For instance, it is conceivable that the locals may only be seeking to “fill up” up their stomachs unlike the tourists who may be looking forward to trying out different flavors and types of seafood offered at the restaurants. Creating a wide food portfolio for the seafood will thus be a key consideration for the newly established restaurant.

Finally, the psychographic segmentation will be an extension of the behavioral subdivision whereby the target population will be defined on the bases of the target customers’ lifestyles, values, and personalities. The modern target customer is drastically changing, whereby people are continuously seeking to have fun at their disposal. It is in this view that people from all walks of life will be targeted by the expansive portfolio of the foodstuffs being offered by the restaurant.

4. Positioning

4.1 Desired Image

Currently, Joey’s is largest restaurant in Canada and is considered as one of the best restaurants amid other major competitors (“Joey’s – Home of Canada’s favourite Fish & Chips!,2017). From its mission statement, the chain is devoted and committed towards the provision of quality and affordable seafood in a fast and friendly service. To this end, the restaurant is regarded as one of the best in the continued provision of luxury food choices (Rotherham, 2014). However, despite its ever growing and shining name, it is important to focus on differentiating it from the competitors and especially with reference to the new target market in Whitby in the larger Durham Region. In this view, the new restaurant will borrow from the chain’s primary business model but also focus on including in its portfolio products that specifically meet the needs of the target population in Whitby. The ideas on brand improvement will primarily be borrowed from other restaurant branches operated by Joey’s and especially those located in the Seashores. These include; the North Bay branch located on the shores of Lake Nipssing and Cornwall restaurant situation on the banks of Lawrence River among others. From the outset, there will be a market research across different regions where Joey’s operates as well as in the Whitby town, where it intends to launch a new restaurant. This will primarily focus on collecting informative data on consumers’ perception regarding Joey’s brand image. Relevant improvements will be made based on the research findings in order to ensure that the restaurant products’ offerings meet the needs of its target customers. The social media will increasingly be used and especially in sharing high definition images of Joey’s products via the Instagram platform as well quality videos via the You-tube channel. Adopting unique brand positioning approaches will help the chain differentiate itself from the rest of the competitors, eventually giving it a unique selling point.

4.2 Positioning Statement

Joey’s want to provide quality sea food products that meet customer value for money to local the local people and those and visiting Whitby in Ontario region so as to meet the rising demand in the culinary industry and create a lasting appeal in the hearts of the target customers.

4.3 Perceptual Map

Price
Quality

5. Consumer Behavior

5.1 Level of Customer Involvement

Customer motivation is very critical for any business and the nature of customer service offered is one of the key determinants to the success or failure of the particular business or organization (Szmigin&Piacentini, 2014). In different instances, customers will be involved in the decision-making process. However, their level of involvement is largely dependent on the nature of the product and the amount of money involved. The level of involvement can be categorized into high, medium, or low level. For instance, the more money a particular customer is going to spend on a product or service, the more he or she will be involved in the decision-making process. The reverse is also true. Also, the more regular a customer uses a product or service, the less the intensity of research he or she is going to do. In this case, Joey’s is dealing with the selling of foodstuffs, primarily seafood. The locals are used to these meals and the visitors would not consider the prices as very high to deserve much research before making the final decision on purchase and hence the level of involvement will be low. Additionally, the restaurant will be offering high quality foodstuffs, which are attractive at sight as well as delicious and sumptuous upon tasting. This coupled with its already established brand image, increased referral rates, and continued intensive marketing strategies will attract many customers at face value.

5.2 Three main Consumer influences

There are several influencers to a customer before he or she can purchase a particular product or service. These may include among others; purchasing power, personal preferences, economic conditions, group influences, and marketing campaigns. However, for the purpose of this marketing plan, only three will be considered with reference to the projected new restaurant to be launched in Whitby, Ontario. Firstly, there will be a focus on the personal preferences whereby the consumer buying behaviors among the locals and the visitors will be influenced by different priorities, values, morals as well as likes and dislikes. The culinary industry is considered dynamic implying that styles and funs will play a critical role in determining what they will consume. It is in this regard that regular research will be undertaken in order to understand changing consumer preferences among the residents of Whitby as well as those frequenting the town for fan making and other tourism activities. Secondly, there is the group influence (Szmigin&Piacentini, 2014). As earlier stated, Whitby is a sea-side town characterized by off shore lifestyles, whereby a large number of the residents rely on the seafood. In addition, those visiting the town are mainly seeking seaside life experience and seafood will be one of the products they will be looking forward to have while there. In other words, residents and visitors will automatically adopt the regular lifestyle, through influence and this will serve to advantage Joey’s seafood’s new restaurant. Finally, there is the purchasing power (Szmigin&Piacentini, 2014). In most cases, people visit the beach sites in order to have fun, including a change in their diets. A large number of them visit these places for holiday purposes implying that they are in good financial status. This means that they will have high purchasing powers and hence the new restaurant will leverage on this opportunity.

6. Marketing Mix

In order to achieve its marketing objectives, Joey’s will be required to optimize on the following 7 components of marketing mix.

6.1 Product

Joey’s seafood offers a relatively large product portfolio covered by its expansive menu. These include among other foods, Sandwiches, Share, Fish, Chips, Tacos, Shrimp, Crab, Calamari and Ocean (“Joey’s – Home of Canada’s favourite Fish & Chips!, 2017). The company has been receiving both positive and negative customer reviews but one thing stands out, it has been offering luxurious and mid-priced products. The restaurant has different outlet restaurant branches spread across Canada as well as franchise businesses in North America. However, due to the rising demand for the seafood, it is appropriate for the company to launch another outlet restaurant and slightly expand its product portfolio in order to meet the diverse needs of its target customers. Progressively, it will also be vital for the chain to consider including beverages and bottled water considering the hot climates around the shores.

6.2 Price

In order to have a unique positioning, Joey’s has been focusing in the provision of quality foodstuffs at relatively fair prices that meets customer value. It offers different prices for the diverse products that it offers in order to ensure that all income segments are covered. Currently, the chain primarily approves cash payments but the changing nature of the consumer trends will require it to expand its payment options into accepting card payments. Additionally, there is a need to include the discount packages, for instance on quantity discounts, in order to encourage more people to purchase the foodstuffs in bulk.

6.3 Place

Conventionally, Joey’s has been relying on the Mortar & Brick business model as its product distribution strategy. It is in this view that the restaurant has different restaurant outlets spread across Canada as well as more than 100 franchise stores across North America (“Joey’s – Home of Canada’s favourite Fish & Chips!, 2017). Although the chain intends to open a physical restaurant in Whitby, it will be critical for it to consider increasingly investing in online stores. It can consider expanding its franchise system in Ontario province, initially, whereby customers can check product portfolio online and later visit the physical stores to obtain the products. Eventually, this will streamline and improve its distribution network.

6.4 Promotion

Presently, Joey’s runs several promotional programs in order to boost its products. For instance, it has the Mariner’s Club, Jomo Mobile Rewards, and organizes different contests in order to increasingly engage its target customers (“Joey’s – Home of Canada’s favourite Fish & Chips!, 2017). Its regular offers is also one of the key strategies that the restaurant uses to reward its loyal customers. In order to improve on its promotions and marketing, it will be vital for it to continuously invest in the online marketing strategies including increased investment on its website and ghost websites as well as the different social media platforms such as Facebook, Twitter, Instagram, You-Tube and Instagram, in which case most of them provide free advertising platforms. It There is also a need to focus on trade fairs, which provide the restaurant an opportunity to have one-on-one meet ups and interactions with the target customers.

6.5 People

Traditionally, Joey’s has been hiring a relatively small number of employees as it believes they provide the best opportunity in streamlining operations. Considering the nature of its status and competition, the new restaurant may require investing more on its human resource. The ratio employee-customers need to be reviewed. Additionally, there is a need to review its salaries, training and development, and other employee benefits in order to increase their morale and motivations for increased productivity.

6.6. Processes

New technologies have brought about novel innovations, including in the culinary industry. It is in this view that Joey’s should channel its focus to invest in the modern technologies in its cooking, serving, and packaging. Computerization of its new opening will help streamline a chunk of its operations. Moreover, the restaurant will focus on undertaking continued research and development (R&D) in order to have a clear understanding of the changing trends.

6.7 Planet

In the contemporary society, customers are willing to purchase products from and use the services of those companies that embrace the concept of corporate social responsibility (CSR). Although Joey’s has been committed to environmental conservation through appropriate waste disposal programs, the new restaurant will continuously focus on environmental conservation while ensuring to remain profitable for continued sustainability. This is especially considering the rising concern of global warming, which has become a major issue in the modern society.

 

 

 

 

 

 

 

 

 

References

Joey’s – Home of Canada’s favourite Fish & Chips!.(2017). Joeys.ca. Retrieved 12 December 2017, from https://joeys.ca/

Rotherham, I. D. (2014). Yorkshire’s Dinosaur Coast. London: Amberley Publishing Limited.

Sarsby, A. (2016). SWOT analysis. Leadership Library.

Shurtleff, W., & Aoyagi, A. (2010).History of soybeans and soyfoods in Canada (1831-2010): Extensively annotated bibliography and sourcebook. Lafayette, CA: Soyinfo Center.

Szmigin, I., &Piacentini, M. (2014).Consumer behaviour.Oxford : Oxford University Press.

 

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