If you are a business leader who sees marketing as a path to give your Caribbean restaurant a larger market presence you're not alone.
Top performers habitually integrate sound marketing concepts with market demands.
Smart Caribbean restaurants understand that more customers will walk through the door if a few products are priced at less than full retail value. Moreover, a loss leader marketing strategy can compensate for dead periods when customers tend to making purchases. A classic mistake of loss leader marketing is to create pricing without researching the competition. In a worse case scenario, you could be counting on pricing that is higher than your competitors. When used in Caribbean restaurants, the real benefits of loss leaders emerge through the careful marketing of other products, usually offered at a much higher margin. Whenever possible, piggyback a loss leader approach with the purchase of bulk merchandise that can be bought at a discount.
Public Relations Strategies
Public relations is more subtle, but no less powerful than a full-blown marketing push. For example, if you buy a premium mailing list and use it to conduct a direct mail campaign, that's marketing. On the other hand, if the Sunday paper runs a story about your Caribbean restaurant, that's PR. The art of storytelling is a core PR competency. Storylines need to be believable and objective while communicating your brand's strengths and value proposition.
When It's Time to Rebrand
Rebranding can be the cornerstone of a successful marketing strategy. But unfortunately, many business owners choose to rebrand simply because they aren't sure what else to do. Rebranding is an intentional marketing technique designed to deliver long term results. For a Caribbean restaurant, owners are often inspired to rebrand after analysis has demonstrated that the current brand is losing its impact in the marketplace. Unless you are confident that you possess the skills necessary to rebrand your business, we advise consulting with a professional marketing firm before you introduce a new brand to your customers.
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