Marketing Plan for Rain at the Palms †Business Paper

Marketing Plan for Rain at the Palms – Business Paper Free Online Research Papers Marketing Plan for Rain at the Palms Business Paper Overview: Rain nightclub is located in the Palms Casino in Las Vegas, Nevada. It is a 25,000 sq. ft. nightclub with six bars, and two floors. It employs over 250 people, with me being one of them. On the top level it has six skyboxes which overlook the whole club, and come equipped with couches and a TV, and can easily fit a party of 15-20 people. One level down there are six cabanas for parties of 8-10 people, and than one more down are our water booth tables for parties of 4-6. The rest of the club can pack in 3600 dancing maniacs on the main floor. Rain is one of the top competitors in Las Vegas for this market but over the years the numbers at the doors has been declining dramatically. Life expectancy in this line of business is very short, and they are very fortunate to have lasted this long, but now it is the time to do some drastic changes to regenerate some more business. The plan will increase the attendance at Rain and increase table sales, as well as inform our tar get market of 21-35 year old tourists with money to spend about all the events and changes coming up. Environmental Factors: There are a select few other competitors that have opened in the past two years that have affected Rain’s business. There is Pure inside Caesar’s Palace and Tao at the Venetian. These are our two main competitors that took a huge percentage of our clientele away. In the next month Jet, a new nightclub in the Mirage, opens for New Years Eve so now is the time that a plan of action needs to come together. One environmental factor that hurts business a little is the fact that Rain which is inside of the Palms is located off the tourist filled strip. The people would rather take a $2 cab ride to a closer venue than to pay $5, or what ever it is, to leave the strip. The hotel is always filling their rooms up, and even the people staying at the Palms are getting in cabs and going to other nightclub venues besides the one rite downstairs. Target Market: Our ideal targeted customers would be 21-35 years old, single males and female tourists, and locals with a yearly income of $30,000 –whatever. People in this age bracket that come into Vegas are not coming just for the shows and the gambling any more. A majority of them are coming specifically for the nightlife. They sleep all day, get up and go to dinner, and than hit a club. This is ideal for Rain because they can do some package deal with their restaurant the N9NE Steakhouse. I chose this market because lets be real†¦.mom and dad do not go out to the clubs together, and grandma and grandpa definitely do not, only on rare occasions and they are getting laughed at. Objectives: The objective of this marketing plan is to increase numbers at the door and to increase table (bottle) sales. Goal is to increase the number of people coming in to the club 25%. So if we do 2000 people on a Friday night, than after the plan is in affect we should expect 2500 guests. As for bottle sales the goal is to increase the number of bottles sold a night by 15%. If 30 bottles are sold on Thursday, than 35 should be sold the following Thursday after the plan has been put into action. Product: The product is liquor plain and simple. How you get them in there and make them want to stay is the atmosphere of the club itself and the crowd. We can provide the atmosphere, but we have to entice the crowd to come in. People go to nightclubs depending on the crowd. If there is a line outside the club than people are curious as to what is happening inside. So your customers at the same time of being customers they are also the product that is selling your club. People want to go to the clubs where the beautiful people are. As far as the liquor goes, we offer every type from the low end choices to the $5,000 dollar bottle of Louis XIII. Also the entertainment value, and the music we play can be our product because another main reason why people choose the clubs they go to is to listen to music and dance. Rain plays a little of every type of music. They cater to every type of music preference and have a humongous dance floor to get down on. Price: This market is definitely price sensitive and low priced items would be preferred over high priced items. Liquor is liquor and depending on where you are drinking it the prices will vary. A beer at the local pub is around two to three bucks. In any given popular nightclub in town its about 6-7 dollars. A shot of well vodka goes for about 10 bucks in the club and 5 in a local bar. That is if you’re just buying drinks at the bar. If you have a table you have to do bottle service, which policies differ in every club, but usually when you do this you not only have to purchase the bottle of liquor that you and your party will be drinking, but you have to buy the actual table as well. Now the bottle prices in every club for a bottle of Grey Goose lets say goes for $350 dollars, including juices and excluding red bulls. And for every two more people in your party after 4 people you have to buy another bottle of liquor. If we were to drop the price just a little and changed some of those policies we could sell a lot more tables. Than there is also cover charge which recently was raised from 20 a head to 25. Place: Location is great for locals and bad for tourists. It is located a few blocks west of the strip on Flamingo across from the Rio. This is convenient for locals that come see a concert at this venue and don’t have to put up with the traffic of the strip. As I mentioned earlier though tourists tend to like to stay on the strip near the hotel that they are staying at. Overall though, it is an excellent location for a nightclub, especially the Palms because they cater to our target market as well. Promotion: This is a large FB company that has venues nationwide so I know they have some dollars for some promotions. One that is very cost effective though is to hire an e-mail girl to get the contact information of our guests coming in so we can send them all of our up coming parties and events. As I mentioned earlier maybe doing some cross promotions with the steakhouse. Like bring your receipt from dinner at N9NEto the cashier at Rain for free entry. Give passes to the guests staying at the Palms for free admission. Drop the bottle prices on Thursdays to regenerate some table reservations. Buy one get one free bottles on Thursdays. Promote a locals night once a week where all locals get in for free to start generating more word of mouth within the city. Hire a promotions street team to go out earlier in the day Thur-Sat passing out fliers in all the major casinos. Run radio ads in Vegas and L.A. since half of our customer base is young adults driving into Vegas from Los Angeles. Hand out punch cards for our bottle service guests like a subway card. Buy 6 bottles get one free. Ghostbar at the palms is owned and operated by the same company two but they are two different venues with two different covers. Maybe on one of the slow days a week like Thursday do a two for one cover of $25 for both clubs. Marketing Control: The e-mail girl at the front would really help out keeping our focus on the type of customers frequenting our club and allows us to have access to them directly for promotions. Also for complaints because when we e mail them our up and coming events there will be a link to our website where they can post complaints, or remarks. There are not many budgetary constraints with this company. Also when getting their contact info to include their zip code so we can keep track of the locals and to know where the majority of our customers are coming from so we can run ads in their parts to constantly re-inform them of the fun they had here. Target Market ? Dual income couples with kids that live in the Seven Hills, Anthem area. This group has high income, little discretionary time, and propensity to want to eat out (but not necessarily fast food). This market demands convenience, high quality, freshness. Healthy items should be available as well to especially appeal to mothers. Objectives The objective of this marketing plan is to increase awareness of Rocco’s NY Deli, and through increasing awareness impact sales. Goal is for sales to increase 20% over the next 3 months, and then sustain through the year. Dips in sales will be responded to with promotional offers. Next year the plan will be reassessed Strategy: Marketing Mix ? Product: current product offering is good, maybe offer a few healthy items to appeal to the â€Å"Moms,† definitely move on the alcohol license and get a credit card/debit machine. Currently have a case of frozen foods, add a case with ready-made items in the refrigerated section. ? Price: this market is not necessarily price sensitive, and higher quality items would be preferred over low cost items. Marketing Mix ? Place: location is great, right on the way home from work for many working parents, perhaps making a delivery option available too. Need an Internet site where they can see the menu and place an order from home or work. ? Promotion: this is a Mom and Pop organization so limited dollars, consider placing bouncing arrows to increase attention to the restaurant, pass out fliers in the karate, dance and learning centers offering families a price promotion and also magnets that families can place on their refrigerators that have the phone number; blanket the area homes with promotional fliers, and if any formal advertising is done, focus on the Henderson area, maybe in the View section of the RJ. Have â€Å"awards† for patrons that bring in new patrons (discounts on pizzas, etc) to help increase word-of-mouth. Marketing Control ? Every customer will be greeted on entry to the deli. Sometime within their visit they will be asked â€Å"how did you hear about us.† There will be a list behind the counter to keep track of those responses. Additionally, all promotional fliers and coupons (and advertising) will need to be collected in order to receive the discount so we can determine which promotion is directly getting the customer in-the-door. The sales during an â€Å"arrow† day will be compared to a similar non-arrow day to see whether that is an effective tool. If advertising is done in the RJ a similar comparison will be done to determine if it is â€Å"worth† the cost. The word of mouth offers will also be tracked and efforts will be made to establish relationships with those patrons. Research Papers on Marketing Plan for Rain at the Palms - Business PaperBionic Assembly System: A New Concept of SelfThe Fifth HorsemanIncorporating Risk and Uncertainty Factor in CapitalDefinition of Export QuotasTwilight of the UAWThe Project Managment Office SystemHip-Hop is ArtGenetic EngineeringNever Been Kicked Out of a Place This NiceWhere Wild and West Meet