Essay On Organizational Innovation
Competition is continuously increasing in all sectors and businesses across the world. Companies are generating new innovative ideas to attract and pull customers. Chef Service is the concept that gaining popularity and has good scope of growth. There are very few companies such as Big City Chefs that are provide customized chef service to the customers. This paper intends to discuss various aspects of marketing associated with Chef Service such as value proposition, market segment, revenue generation and competitive analysis.
Grand Chef is a newly formed company that wants to serve to specific requirements of customers related to customizeddinner parties, household chef service, cooking class, and customized weekly healthy food plan services. The Grand Chef offers services through premium chefs who are trained in five start hotels and carries extraordinary culinary skills. Chefs are well trained in delivering excellent culinary services that makes any party or occasion unforgettable. Chefs’ cooking and serving style amaze and amuse guest.
Grand Chef’s staffs are well trained in developing multiple cuisines to cater different tastes of customers with great deliberation. Grand Chef is targeting to serve needs of elite and high-profile customers and corporate. Grand Chef is focusing to provide end-to-end catering services to the customers, which includes procurement of raw materials, cooking at customer’s place, table service, place decoration, music and afterwards cleaning of the place. Customers are not required to do anything except informing what all dishes they want and the idea of occasion. Under the service, fresh raw material is brought to the customer’s place and all dishes including deserts will be cooked in front of guests. Guests can watch or involve in cooking process and can demand for their favorite dish or drink from the menu. Grand Chef Services are focused on delivering unique culinary experience to the customers.
Grad Chef designed its catering services keeping in mind the needs of elite, high-profile, business or working class of people. The services offered by the company aims to deliver unique culinary experience. Hectic lifestyle and pressure to perform in difficult situations leaving people stressed; people want to spend quality time with their friends and family. Grand Chef’s catering services fulfill all needs of such people by providing tasty and quality food, excellent table service along with other supportive services such as ambience, light music, cleanliness and overall presentation. Services offered by the company make people comfortable who are attending party or occasion relaxed.
Another service offered by the Grand Chef is customized food menu. People who want to take nutritional and tasty food according to their calories requirements may avail the customized food menu service offer by Grand Chef. Under this service company’s well trained chef designed weekly menu for the customer according to his or her taste and nutritional requirements. Services offered by the company are easily accessible and affordable by the desired target segment i.e. elite people.
Services offered by Grad Chef are slightly costly but yet competitively priced as compared to other competitors. It is essential that company hire staff that are trained in five star hotels and have excellent knowledge on culinary services in order to deliver unique, excellent and unforgettable dinning experience. Each service element has some cost associated to it there by it is important to price services competitively yet enough to recover cost and margins (Kotler).
Grand Chef’s services can be availed by any person or corporate. Grand Chef is planning to launch its services in New York City and will further expand business in other cities of the state. The major reason for selecting NY City is its well developed economy, excellent presence of big corporate, good number of affluent business houses, working class people and population. All these factors indicate the high probability of success of business in the city.
Primary target segment for Grand Chef is affluent business class and working people. Customers from this class have good purchasing capacity and also look for such services that make their occasions extraordinary and noticeable by other guests. People from affluent class are suitable target segment for Grand Chef irrespective of their age group, gender, religion or origin (Kotler & Keller). Grand Chef’s staff is well trained in cooking all types of dishes hence it is not difficult to serve to different flavors of people belong to different origins. Main target segment of Grand Chef is:
– All affluent business class and working people who reside in NY City irrespective of their age group, gender, religion or origin.
– All people who has average annual income of USD 4, 00,000 or above.
– All affluent senior and aging people.
– Kids and youngsters belong to affluent families; they want make their birthday celebration and other occasions great and full of enjoyment.
– All people reside in NY City who would love to make their parties extraordinary and unforgettable.
Grand Chef will generate revenue by selling its catering solutions to the target market segment. A brief financial analysis can help in understanding how revenue will be generated, how company is expected to perform and potential profit. Sales forecast will help in determining how revenue will be generated from the business.
Following aspects are considered while performing sales forecast:
– It is assumed that business will achieve a growth of @ 20 percent every year.
– Average value of order will be increasing due to publicity, and promotional activities.
– Operating expenses are also expected to rise because of inflation.
Estimated Cost of Idea
Competitive advantages of Grand Chef will distinguish its offerings from competitors. Grand Chef will face major competition from Sweet Basil Catering & Events and Naturally Delicious. Both companies are running catering business for last few years. These companies are generating good revenue and also very preferred service providers by customers (Naturally Delicious). These companies are catering to big corporate such as United Nations, Sony, Nike and CNN, etc. (Sweet Basil Catering).
It is true that competitors who are already operating in the market has some upper edge as they are in the business for past several years, have good base of loyal customers, and already captured big clients of the target market. However Grand Chef competitive advantages will successfully achieve desired sales target by driving customers in (Levitt). Competitive advantages of the company are:
– Well trained and experienced chefs who can cook any type of dishes.
– End-to-end catering solution.
– Extraordinary culinary experience, table service and other supporting services that makes occasion unforgettable.
– Competitive pricing.
After conducting above analysis it is good to conclude that services offer by Grad Chef are designed keeping in mind the affluent target segment. Grand Chef has various competitive advantages over its competitors that will help in attracting customers to avail company’s services. End-to-end catering solutions, customized menu and cooking services offered by the Company will fulfill the changing needs of demanding customers who look for extraordinary services irrespective of prices.
Kotler, P. Marketing management. New Delhi: Pearson Education India, 2009.
Levitt, T. “Marketing Success through Differetiation – of Anything.” Harvard Business Review (1980): 83-91.
Naturally Delicious. (n.d.). Retrieved October 29, 2013, from naturallydelicious: http://www.naturallydelicious.com/celebrations
P. Kotler & K. Keller. Marketing Management. London: Prentice Hall, 2011.
Sweet Basil Catering. (2012). Retrieved October 29, 2013, from sweetbasilcatering: http://www.sweetbasilcatering.com/clients/