This report determines business strategy and practices in the context of Harveys Restaurant in order to attain competitive advantages from the target market. The analysis of this report determines:
- Determine strategic analysis of Harveys Restaurant in order to attain competitive advantages.
Harvey's Restaurant is a Canadian restaurant chain that is operating its business operations in and around European Union Countries. This firm was found in 1959 in Richmond Hill, Canada. Founders of this firm was Rick Mauran and George B. Sukornyk. Main objective of this firm is to provide best quality services to their clients and this type of behaviour is responsible for high customer retention rate (Campbell, Coff and Kryscynski, 2012). There are some competitive advantages that are grabbed by Harvey's Restaurant in market because of its extraordinary quality services.
These rivalry advantages are explained as further:
Quality Services: Harvey's Restaurant is providing good quality services and products and that is people are regularly visit this place for spending their quality time with family or friends. When a customer went to a restaurant then he/she expects a range of quality services and like on time delivery, cleanliness, efficiency of service providers and in context of this customers are having their liking with Harvey's Restaurant and with reason it is clear that effectiveness of service providence is good and with this reason this restaurant is able in grabbing competitive advantages at market place. Increased in Footfall of clients represents that how efficiently this firm is using rivalry advantages in marketplace (Shahini and Azemi, 2013).
Promotional Strategy: Harvey's Restaurant is using most prominent technologies rfor popularising their business operations and due to this there are many tools and technologies that association uses in order to grab competitive advantages like online marketing tool, advertisement, online and offline survey, market research etc. When a company knows their efficiencies and then chose promotional strategy according to strength of firm then this type if action is helpful in gaining larger market share along with higher competitive advantages (Wagner and Hollenbeck, 2014).
As per study it is clear that this restaurant is quite able in generating high rated profit margin and strong customer trust in market because of popularising business activities in most effective and efficient manner. After getting stronger and wider position in market than business rivals company is expecting a business expansion move and there are many points that are helpful in successful business expansion which are stated as follows:
Good Quality: For making successful business organisation it is required from an association that they keep extraordinary quality of their products and services and Harvey's Restaurant is running its business with good qualities and this is a reason that provokes owner of Harvey's Restaurant for business expansion (Tanner and Raymond, 2015).
Firm of this venture is able in running their business operations in many countries but management personnels are planning to open their new venture in Spain because there are many opportunities present in Spanish market that are having some special influencing power that attracts many business ventures. Main reason behind segmenting market is that people who are living in this country are having strong disposable income and sufficient potential for purchasing a product or service, frequent in visiting restaurants etc.
Main difference that is observed in cultures of UK and Spain is found in mainly food eating habits which are majorly distinctive from each other. This is more understandable by one example which is that there are many cultural differences between UK and Spain like lunch is done in 2-3 p.m. In Spain and which is a main meal but in UK lunch is a brief of meal and people generally eat some little amount of food and due to this reason Harvey's Restaurant are having opportunity that they can serve more product and good quality services at the same time when they were serving short sized meal in UK. So according to this action Spain consist more opportunities (Benhui and et. al., 2016).
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Now next stage is development of products which depends upon various things like an item has three parts or levels that are support service in which with products, services are also provided for supporting core products, other is product attributes that comprises elements of products and services that are added for value creation, last one is core product benefits, in this section products are core and other things are secondary. In context of this scenario, Harvey's Restaurant are serving supportive service product that is a combinations of item and services that are complementary to each other. If coffee and meals are core product then facilities of eating and space providing is supportive service (Kumar and et. al., 2012).
Products should be standardised so that every person could purchase them but there are some advantages like economies of scale and on the other hand disadvantages of standardisation is that it reflects vulnerabilities of trade barriers and due to this venture is losing their reputation so that before manufacturing products all factors should be considered.
There are many attributes that affect pricing decision of a company like cost based pricing which is a good option in respect to Harvey's Restaurant and value based pricing is hard to find because it consist entire market analysis. There are many factors that affevt pricing strategies like customer perception, internal and external consideration that is related with employees and customers that are linked directly (Baud-Lavigne, Agard and Penz, 2012).
Harvey's Restaurants are efficiently providing quality services and their manufacturing unit is quite good that is able in serving extraordinary quality goods and services. On the other hand, this firm is not able in handling changes that are occurring in business environment and due to this, firm is not able in forecasting future demands. This is an opportunities of ocmpany that they are providing good services and duer to this firm could establish their footprints in new markets that are having wider customer base aand can generate higher rate ogf profit marginsd and success rate. If there is any changes in business environment then it is clear that this firm is not bale in addressing that and situation that could be an opportunity becomes threat for Harvey's Restaurant (Botzem and Dobusch, 2012).
This report is summarised as in present era, business expansion is a requirement of business organisations for making some improvements in business operations in order to achieve higher market share and growth in industry. It is responsibility of marketing department that expansion of operations that are taking place in organisations should be accomplished in most appropriate manner so that venture could grab competitive advantages. There are many options that are helpful in making business globalise and by taking help of this action owner of firm can establishments their footprints in new market.