Blaze Bar & Restaurant - Sample Restaurant Business Plan

37 The diagram below defines the marketing mix for the services that the company will provide to its target audience. Service Offered – As a top end lounge, Blaze will provide a platform from where likeminded members can interact with each other, attend events and parties and also conduct business Pricing Model – The pricing will be against two activities, Entrance fee (for non members) and Membership fee. In addition, advertisements on the website may generate additional revenues The above are exclusive of the transactional activity that a guest may incur at the lounge Target Market – The target audience for the lounge is the high end big spending business executive or celebrity. Travelling executives and walk-in individuals will also be part of the target markets segment. Market Engagement Strategy – The founder will actively engage with corporates and the media to market the lounge. Events to promote the brand in the form of fashion shows and golf tournaments will also be organized. In addition, the web will also be used to reach out to a wider audience. The focus will be on exclusivity, brand image and high quality customer experience.