Wednesday, February 27, 2013

Final Project: Product


“Companies research consumer buying decisions in great detail to answer questions about what consumers buy, where they buy, how and how much they buy, when they buy, and why they buy” (Source: Marketing: An Introduction for Education Management Corporation, page 137) My product is focused on the different ethnic foods and drinks we provide. Since there are four different rooms (American, Spanish, Asian and Italian), each menu will be based on the culture, serving dishes from that country. The bar specialized in tropical drinks and regular bar drinks, bringing the customers a sense of getting away without actually leaving home. Our product is also the entertainment we provide, each room has live music playing from that ethnic group and the waiters and waitresses put on a show for the customers. Each hour in the evening on Saturday night, 3 piñatas will be hung from the main room and will be hit, providing entertainment for the customers around them and the customers hitting the piñatas. Companies must be careful not to go too far and become customer controlled. The idea is not to give customers everything they request. Rather, it’s to understand customers to the core and give them what they need—to create value for customers as a means of capturing value for the firm in return” (Source: Marketing: An Introduction for Education Management Corporation, page 102). We don’t want our customers to control our business, so we do research in what qualities they would like to have in food and entertainment and collaborate it into one fun location.

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