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Research Components
Promotional Goals
The opening of a store in another region can rightfully be compared to the launch of a new business. It is especially true of the South-East Asian area where other cultural, legislative, and food standards prevail. Therefore, to achieve financial stability and success in the foreign restaurant business sphere, such a representative of Western cuisine as Panera needs to determine the promotion goals and develop an appropriate strategy. The initial and most crucial goal of any company promotion is to increase awareness through advertising in various old and social media (Gitman et al. 106). Further, it is necessary to interest customers to try dishes through on-the-house additional products and cooperation with local celebrities (Gitman et al. 106). To achieve trust between clients and the restaurant, it is also crucial to inform about various ingredients and their effects. The next steps are to keep the customer-focused and increase the frequency of their visits by mentioning in the advertisement about continuous improvement. After reaching the desired audience, it is necessary to begin the identification of new customers.
Business Environment
A paradigmatic feature of the culture of South-East Asian farming is the rice basis. However, recent studies show that Bangkok customers are increasingly interested in Western food assortment (Wahyudi and Kofahl 31). It is noticeable in high demand for dairy and flour products, Western sauces, such as mayonnaise and ketchup, and American style dishes, namely snacks and hot dogs (Wahyudi and Kofahl 30). Thai people also like Western confectionery, namely classic ice cream and cakes (Wahyudi and Kofahl 30). Political and economic benefits allowed by Thailand law are 50% corporate income tax, as well as a maximum of 8 years of exemption, the possibility of owning land, and free currency transfer. It is important to note that Panera serves fresh-baked goods, soups, sandwiches, pasta dishes, salads, and custom roasted coffee (Nanjapla). Therefore, it can be confidently stated that the promotion campaign can be based on the offer of already proven standard dishes, which will also distinguish Panera in the South-East Asian restaurant market.
Media plan
Significant differences from the US are visible in the balance of power in the media field of Bangkok. An analysis of the availability of media showed that Bangkok residents learn about a particular brand most often through television and radio (Daosue and Wanarat 66). Old media of a print type, such as magazines, newspapers, and leaflets, occupy the second place (Daosue and Wanarat 66). Street advertising methods, such as billboards, as well as modern social media, have the least promotion feasibility (Daosue and Wanarat 66). It means that the most successful promotional method will be advertising through TV and radio from biases to the announcement of discounts and free additional products.
Promotional Strategy
Choosing the right marketing strategy plays a crucial role in opening a branch store in a foreign region. There are two main types of such approaches, namely, push and pull. According to Thompson, for push marketing, consider sales displays at your grocery store or a shelf of discounted products. This promotion strategy allows the brand to quickly find its niche in the market that interests the entrepreneur and achieve significant profits in a highly competitive environment. Nevertheless, the push method is designed more for short-term and industrial enterprises. In turn, pull marketing, the idea is to establish a loyal following and draw consumers to the products (Thompson). This promotion principle is aimed at gradually building a loyal audience that is aware of its interests through a broad advertising campaign. Having a long-term character and a promotional approach that is more suitable for a restaurant business, a pull strategy will be preferable for Panera.
Suggested Action Plan
Cultural Environment Effects on Promotion
- South-East Asian farming culture has a rice basis;
- Bangkok citizens are interested in Western cuisine;
- High demand for dairy and flour products, Western sauces and confectionery, snacks-like products, and fast food.
Recommendations
The processes of globalization have opened a large number of different cuisines for the people of Thailand and Bangkok. American food has become one of the most sought-after gourmets and ordinary consumers. Appealing to the American style in both design and menu assortment will attract a large number of customers. An entrepreneur should not save upfront money on a promotion because Thai political and economic laws are incredibly favorable for foreign companies.
Promotional Strategy Recommendations
- Preference for televised and radio ads;
- Promote on-the-house additional products;
- Cooperate with local celebrities;
- Promote price discounts.
Recommendations
It is essential that the people of Thailand still prefer the old-style media. TV and radio advertising campaigns should focus on proposing price discounts, special displays, and rebates. PR managers should pay special attention to on-the-house additional products, as well as cooperation with local celebrities. Research of the restaurant and food business show that Thai people often use coupons, so different magazines should have them.
Works Cited
Chapter 3: Business Promotion Incentives. Bangkok International Associates, 2014. Web.
Daosue, Chamaiporn, and Sawat Wanarat. The Effects of Advertising and Sales Promotion on Brand Awareness for A Food Product Brand in Wholesale Shops, Bangkok, and Metropolitan Areas. ABAC Journal, vol. 39, no. 1, 2019, pp. 57-75.
Gitman, Lawrence J., et al. Introduction to Business. OpenStax, 2018.
Nanjapla, Rajiv. An In-Depth Overview of Panera Bread. Market Realist, 2019. Web.
Thompson, Jayne. Between Push & Pull Marketing. Chron, 2019. Web.
Wahyudi, David, and Daniel Kofahl. Food Culture of Southeast Asia: Perspective of Social Science and Food Science. Kassel university press GmbH, 2017.
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