Review the case study in given template:
Business Description: This section should contain one to two paragraphs (200-300 words) with a description of the business and one to two paragraphs (200-300 words) explaining the challenges it is facing.
Target Market Analysis: This section should contain one to two paragraphs (200-300 words) with a description of the demographics of the target market and one to two paragraphs (200-300 words) explaining the psychographic characteristics of the target market.
Positioning/Branding: This section explains the positioning statement (200-300 words). The statement should be around 40 words and then at least a 150 word explanation. Determine the branding (200-300 words) and include a logo.
Branding and Positioning-
Branding: The brand image a company creates is quite important because it determines what people think when they see the business's logo or hear the name. For the restaurant, the brand image has to be much more than just good meal. At the moment, the people associate the place with good and consistent quality of coffee and meals. However, the generation that was attracted to the place because of this image is fast aging and there is need to rebrand. Rebranding will cost money but should boost sales and attract a new and sustainable market.
The company needs a new logo as well as a tagline that people can easily remember. Part of the rebranding should include the recruitment of a new chef because the current one is set to retire. The new chef should also prepare a new menu as part of the change. The restaurant should also try and redesign its interior using perhaps new pieces of furniture or simply changing the arrangement. However, keeping the current prices should ensure that current clientele can still afford to visit the place. The biggest advantage of rebranding is that customers get a feeling of freshness in service received and they become less likely to be drawn away by competition.
Positioning: The positioning strategies chosen by a company can reveal which market segments it is trying to capture. For the restaurant, the first signal of positioning is the prices it charges for its services. By charging low to medium prices, the company is clearly targeting the mass market. The town's population is rather small and there is no suggestion that a premium market is sustainable. The second signal should be the menu. A weekly menu shows that the restaurant is trying to capture a market of regulars who will easily remember what is served on specific days.
Other important aspects of positioning include the times when the restaurant is open as well as the number of days it runs in a week. In addition, the physical location of the business should reveal which people are expected to frequent there. For instance, opening a restaurant close to office blocks should attract people who work there. The restaurant should complement this by having a layout that gives people space and privacy to talk about their business over a meal. For this case, locals that view it as a meeting place to have light talk frequent the restaurant. As such, an open layout is preferable.