The purpose of this study is to examine the elements that satisfy customers in order for restaurants to survive in competition, and to examine effective positioning strategies. Since the designation of Haeundae in Busan as a Special Tourism Zone, dive...
The purpose of this study is to examine the elements that satisfy customers in order for restaurants to survive in competition, and to examine effective positioning strategies. Since the designation of Haeundae in Busan as a Special Tourism Zone, diverse food service markets have been established and various marketing activities are anticipated accordingly.
This study aims to determine the particular of the food service industry unique for the Haeundae Special Tourism Zone in Busan, and provide helpful suggestions for a positioning strategy of the restaurants in this area.
Customers for the restaurants in the Haeundae Special Tourism Zone in Busan are not only the local citizens of Busan, but also foreigners and Koreans from other regions. There is an increasing number of foreigners and Koreans from other regions who visit the restaurants in Haeundae. Hence the fiercer competition within the industry.
It is a highly unusual phenomenon in terms of the business proximity that the most representative family restaurant enterprises actively operating in Korea such as T.G.I. Friday's, Outback Steakhouse and Bennigan's are all located inside the Harbor Town building in Haeundae. This study attempts to understand the unique positions of these family restaurants, hotel restaurants and fast-food restaurants located in the Haeundae Special Tourism Zone in Busan. It also attempts to compare and analyze the competitiveness between them, and examine distinctive positioning strategies for a competitive advantage.
The examination was conducted as follows; after a preliminary examination was done. questionnaire survey was given to customers who were eating at six restaurants for about 5 weeks; customers completed the questionnaire directly. 500 copies were distributed, 463 copies were collected. 425 copies were used in sample coated in final, except for 38 copies which were insincerely completed. 425 copies were coated in total, and comprehensively analyzed by SPSSWIN 10.0 and PC-MDS programs.
The results of this study can be summarized as follows:
Firstly, after the examination of the competitive relationship beweenthe restaurants, based on the image similarity data. It was found that Bennigan's, Outback Steakhouse, and T.G.I. Friday's are in close proximity with one another. Hence the fierce competition between them.
Secondly, as a result of PC-MDS PROFIT analysis, a positioning map was drawn with image similarity measurement of the restaurants and scores 9 evaluation categories for each brand name as follows: food taste, food price, service, access convenience, hygienic condition and cleaning, atmosphere, various events, circumferential environment, and public image.
Thirdly, as a result of MDPREFMAP analysis based on the customer preference, data from the restaurant name brands, an ideal location of a restaurant preferred by customers and the position of restaurant name brands were indicated at the same time.
Based on the above results, marketing managers should recognize the level of customer perception required in the current food service industry, and then compare and analyze the positions of their own restaurants with their Capture the market opportunity on time, and implement a corresponding competitive advantageous strategy.
If a marketing manager of a restaurant legally acquires such a competitively advantageous strategy, the restaurant will achieve a distinctive position, superior to its competitors. This will also maximize the profit of the restaurant. Through a comparison analysis against competitors, a desirable target market is identified and new products or services are developed corresponding to the target market. Furthermore, customer satisfaction can be enhanced and previous strategies implemented in the past can be revised or supplemented.