PFR Fast Food - Food Court
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Transcript of PFR Fast Food - Food Court
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INDEX
S.No Topic Page
1 Introduction 2
2 Executive Summary 2-3
3 Organizational Hierarchy 4
4 Marketing Objective 5-6
5 Market Analysis 7
6 Market Strategy And marketing Mix 8-9
7 Sales strategy 10-12
8 Innovative Marketing Strategy 13
9 Break Even 14
10 Financial Analysis 15-1911. Economic Feasibility 20
12 Summary 21
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Introduction
Fast food is the term given to food that can be prepared and served very quickly. While any
meal with low preparation time can be considered to be fast food, typically the term refers to
food sold in a restaurant or store with low quality preparation and served to the customer in a
packaged form fortake-out/take-away.
Outlets may be stands orkiosks, which may provide no shelter or seating, orfast food restaurants
(also known as quick service restaurants). Franchise operations which are part of restaurant
chains have standardized foodstuffs shipped to each restaurant from central locations.
The capital requirements involved in opening up a fast food restaurant are relatively low.
Restaurants with much higher sit-in ratios, where customers tend to sit and have their orders
brought to them in a seemingly more upscale atmosphere may be known in some areas as fast
casual restaurants.
History
The concept of ready-cooked food for sale is closely connected with urban development. In
Ancient Romecities had street stands that sold bread and wine. A fixture ofEast Asian cities is
the noodle shop. Flatbread and falafel are today ubiquitous in the Middle East. PopularIndian
fast food dishes include vada pav, panipuri and dahi vada. In the French-speaking nations of
West Africa,roadside stands in and around the larger cities continue to sellas they have done
for generationsa range of ready-to-eat, char-grilled meat sticks known locally as brochettes.
http://en.wikipedia.org/wiki/Restauranthttp://en.wikipedia.org/wiki/Take-outhttp://en.wikipedia.org/wiki/Kioskhttp://en.wikipedia.org/wiki/Fast_food_restauranthttp://en.wikipedia.org/wiki/Franchisinghttp://en.wikipedia.org/wiki/Chain_storehttp://en.wikipedia.org/wiki/Chain_storehttp://en.wikipedia.org/wiki/Capital_(economics)http://en.wikipedia.org/wiki/Fast_casual_restauranthttp://en.wikipedia.org/wiki/Fast_casual_restauranthttp://en.wikipedia.org/wiki/Ancient_Romehttp://en.wikipedia.org/wiki/Ancient_Romehttp://en.wikipedia.org/wiki/East_Asiahttp://en.wikipedia.org/wiki/Noodlehttp://en.wikipedia.org/wiki/Flatbreadhttp://en.wikipedia.org/wiki/Falafelhttp://en.wikipedia.org/wiki/Middle_Easthttp://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/Vada_pavhttp://en.wikipedia.org/wiki/Panipurihttp://en.wikipedia.org/wiki/Panipurihttp://en.wikipedia.org/wiki/Dahi_vadahttp://en.wikipedia.org/wiki/Dahi_vadahttp://en.wikipedia.org/wiki/West_Africahttp://en.wikipedia.org/wiki/Street_foodhttp://en.wikipedia.org/wiki/Street_foodhttp://en.wikipedia.org/wiki/Brochettehttp://en.wikipedia.org/wiki/Brochettehttp://en.wikipedia.org/wiki/Restauranthttp://en.wikipedia.org/wiki/Take-outhttp://en.wikipedia.org/wiki/Kioskhttp://en.wikipedia.org/wiki/Fast_food_restauranthttp://en.wikipedia.org/wiki/Franchisinghttp://en.wikipedia.org/wiki/Chain_storehttp://en.wikipedia.org/wiki/Chain_storehttp://en.wikipedia.org/wiki/Capital_(economics)http://en.wikipedia.org/wiki/Fast_casual_restauranthttp://en.wikipedia.org/wiki/Fast_casual_restauranthttp://en.wikipedia.org/wiki/Ancient_Romehttp://en.wikipedia.org/wiki/East_Asiahttp://en.wikipedia.org/wiki/Noodlehttp://en.wikipedia.org/wiki/Flatbreadhttp://en.wikipedia.org/wiki/Falafelhttp://en.wikipedia.org/wiki/Middle_Easthttp://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/Vada_pavhttp://en.wikipedia.org/wiki/Panipurihttp://en.wikipedia.org/wiki/Dahi_vadahttp://en.wikipedia.org/wiki/West_Africahttp://en.wikipedia.org/wiki/Street_foodhttp://en.wikipedia.org/wiki/Brochette -
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INTRODUCTION
BUSINESS PLAN: (FAST FOOD RESTAURANT )
WE ARE PLANNING TO SET UP A FAST FOOD RESTAURANT IN NEW DELHIWHICH OFFERS DEEP ASSORTMENT OF TRADITIONAL VARIETY OF CUISINES
AVAILABLE IN VARIOUS PARTS OF COUNTRY UNDER ONE ROOF.
EXECUTIVE SUMMARY:
We will be starting novel concept of Fast food Restaurant in New Delhi.
We have chosen to enter particularly to restaurant segment because as per BIRD OF
GOLD report by McKinsey Global Institute Indian middle class household will swell
from 50million to 583 million by 2025.Implies household have more disposable income
and shift towards discretion spending.
Restaurant
As per CII estimate 2009 because of increase of rising per capital income Food industry
will grow to US$310 billion by 2015.
Food Industry is growing at the rate of 13% estimate CSO (Central Statistical
Organization)
Thus there is a huge market potential and no player has tried to offer this concept of serving
variety of regional tastes under one roof. This place will provide a traditional taste and traditional
environment means ambience of particular Fast food Restaurant will resemble to that of the
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place from which it belongs, e.g. (Punjab with vibrant surrounding representing euphoria feeling,
Kerala with majestic and natural beauty of beaches and high tech global standard facilities). Its
a unique combination in its own concept. After enough market research, we have found that
people miss food from their native places. They want a place where they can enjoy their native
place food. The Fast food Restaurant is all about catering to need of these types of customers.
We will acquire half acre of land strategically located to be easily accessible for the customers
residing in New Delhi.
Total estimated cost of land is around Rs. 2.5 Crores (at Rs. 1150/- per Sq. Ft.).Construction Cost
Rs. 2 Crores which utilizes 10000Sq. Ft. of area (at Rs 2000per sq Ft.) .Remaining space would
be used properly to present landscape beauty and to engage children for entertainment. Initial
project cost would be Rs 5 Crore. Contribution by Promoters will be Rs. 1 crore and Bank loan
of Rs. 4 crore. We will be repaying loan with an EMI of approximately Rs nine lakhs per
month .The loan would be repaid over five years period. We will be able to breakeven in 3 years
of time.
ORGANIZATIONAL HIERARCHY
There will be 3 Functional heads for this firm who will be handling various managerial
positions.
They will be responsible for managerial decision making.
For day to day working several staff will be hired on monthly salary for various positions
which include from sweeper, to clean boy, to cook, to accountant, to assistant manager, to
a head for the Fast food Restaurant supervision.
We plan to hire roughly 10 Assistant manager, 20 cooks, 40 assistant workers to cook, 50
other helper boys for cleaning and taking order and for service.
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Vision:
To constantly innovate & provide the best that we can for our customers
To be recognized as pioneers in the multi-brand Fast food Restaurant management,
utilizing the highest levels of corporate & with dedicated employees and partners
Mission:
To provide integrated food management support and solutions for our partners
So that every customer gets highest level of food quality & outstanding service in a hygienic
& fun dining environment
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MARKETING OBJECTIVE
To achieve annual growth sale of 25%on yearly basis.
To form strategic Alliance with, Haldiram because we are sensitive to diverse
need of customer.
To become Market leader in New Delhi.
SWOT ANALYSIS:
STRENGTH
Location: - Our Fast food Restaurant will be placed in such an area which can
be easily accessible from all part of .
Experienced staff: - Our hired expertise staff helps us in providing quality food
service to our customer. Ambience of place: - The feeling of being in their native place while dinning is
itself a pleasure experience which gives us an advantage over others.
WEAKNESS
Lack of experience: Fast food Restaurant is a start up and the odds are laced
against it. Will face stiff competition from local players.
Financing: - Preliminary estimates of sales and expenditures suggest that it will
remain financially stable. However unforeseen expenditure or poor sales will
threaten cash position, which will be particularly vulnerable in one year.
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Limited personnel: - Since we need expertise staff and to find and retain it is
very difficult because of the competition in the market.
Opportunities:-
Growing market: - restaurants market is growing at a fast speed and demand for
quality food is never ending.
Potential to become a premier food provider: - because of the experienced and
expertise staff we can deliver quality food products. Also the use of technology
like Surface technology on table makes it quite innovative and a new experience.
THREATS
Local Competition (existing and potential): There are firms which specialize in
this concept of Fast food Restaurant . Also local players are a threat to our
business since they are also competing for the same market share.
Economic downturn: The strong domestic economy has been good for the Food
and hospitality industry. Continued growth is anticipated. however, unforeseen or
unanticipated economic recession would reduce disposable income and threaten
our Fast food Restaurant sales.
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MARKETING STRATEGY AND MARKETING MIX
PRODUCT MIX
Product: We offer deep assortment of traditional food from different
Regions of country under one roof .We will offer global standard services and rich ambience.
PRICING STRATEGIES:
Price: We will be using VALUE PRICING STRATEGY offering just right combination of
quality and good services at fair prices.
Product bundle pricing:
We will combine several products and offer bundle price at reduced price e.g., we will offer
special Flavor Thali meal at reduce price.
FLAVOUR OF INDIA itself is a Fast food Restaurant and has more than 15 food brands under
its umbrella that offers a perfect cuisine-mix with an array of food variety to its customers! The
brands may be as follows:
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Price:
One or two products in each section will be kept at low price to attract the customer .The product
whose price is reduced should be price elastic to pull the customer toward the Fast food
Restaurant .
Place: Our main focus is to pull crowd to Fast food Restaurant by running promotional
campaigns. Other strategy is to focus on home delivery and corporate customers with the
effective use of information system to reduce the timing for logistics.
Promotion: We will be using Integrated Marketing Communication which will help Fast food
Restaurant to develop a consistent, clear and compelling message which will be in sync with
Fast food Restaurant positioning strategy.
Promotional opportunity:
As with robust growth of economy per capita income is increasing and more shift is toward
discretion spending. Thus offering great opportunity to promote our concept to target audience.
We will be giving important consideration for spending on promotional budget.
Objective of Promotion:
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To ensure awareness, knowledge about the Fast food Restaurant concept to target
customer.
Next stage is to use promotional strategies to develop liking, preference and conviction
for the concept.
Last stage is to develop conviction and purchase for the selected target customer.
Promotional Strategies:
1st Stage
To ensure awareness and knowledge among target customer. We will be
Using Buzz Marketing (attracting opinion leaders) and word of mouth publicity
Advertisement through local media network (cable, newspaper, and magazine).
Participating in food fest and organizing food fest competition.
Using SUBLIMINAL advertisement strategy in cinema hall to develop awareness of
product.
2nd stage of strategy:
Using direct marketing concept to reach selected customers via E-mail.
Organizing cultural event every weekend to pull crowd to Fast food Restaurant
and develop liking and preference for the place.
With the application of data base management system tracking customer
purchase, frequency and preference to build customer loyalty program.
Positioning Message:
Our positioning message from every channel of media vehicle is going to promote
traditional Food with deep assortment and global standard service.
Evaluation: Implement consumer feed back survey to selected target consumer to check
success of IMC campaign on parameter like Branding, Image, and Positioning after three
month of promotional activities.
Budget: Budget would be Rs 19.2lac per year.
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SALES STRATEGIES
To generate majority of revenue for Fast food Restaurant by pulling customer to
Fast food Restaurant location.
TO target corporate office in the town and offering them special corporate prices.
To target carefully selected customer through DIRECT MARKETING using E-
mail for better generation of revenue from Home delivery business.
INNOVATIVE MARKETING STRATEGIES
Application of information system(Microsoft surface Technology Computers)
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In maintaining customer database on parameters like Amount of purchase, frequency,
preference etc.All this activity help us to build loyalty program with profitable customer.
We will be using Microsoft latest surface technology computers with which customer
will just have to put menu on surface of computer and will get all information regarding
cuisine of his liking .This will substitute waiter role and help in cost reduction. Not only
this they can pay bill by using their credit/debit card just moving card over surface of
item order that display on computer surface screen.
To greet Loyal customers on special occasions (marriage anniversary, birthday
anniversery).
STRATEGIC ALLIANCE:
1 Form strategic Alliance with Sweet Chariot, Haldiram. is would
help us to cater diverse need of our target customer .In addition we will be taking rent from them
which will contribute to our miscellaneous revenue.
2. PROMOTINAL STRATEGY:
Installing kiosk in busy place like railway station ,majestic bus stand, advertising about Fastfood Restaurant and help any consumer to download song free of cost, access tourist places in
New Delhi, famous goods produce in New Delhi .one option on the site provide wealth of
information about assortment of product available with Fast food Restaurant .
3. Setting up web 2.0 website which offers advantage better than web 1.0website.Customer can
interact with site, provide their feed back and write blog about their experience in Fast food
Restaurant . We can use this site to offer wealth of information about nutrient content of our
products.
4. We will organize cultural programme every week to pull crowd towards Fast food Restaurant .
We will be spending Rs 40,000 per month on this activity.
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BREAK EVEN ANALYSIS
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We plan to break even within a period of three years, though we plan to repay our loan in a
period of 5 yrs.
Fixed cost of investment is Rs 4.5 cr that we have spent on building and land.
We will break even at a Revenue of Rs 21.8 Cr
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FINANCIAL ANALYSIS
Year - 2009
(All Figures in Rs)
Cash Account
Revenue
To Capital 10000000
To Loan from
Bank 40000000
To Cash Sales 60000000
Total
11000000
0
Expenses
By land andBuilding 45000000
By Purchase 18000000
By Equipment 3800000
Salary 9000000
Electri 4000000
Insurance 500000
Consultancy Fee 100000
Stationary 50000
Legal 10000
Other Expense 440000By Interest 4800000
By Tax 5984748
By Repayment of
Loan 5877292
By Advertisement 1920000
By Balance 10417960
Total 110000000
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Profit and Loss Account
To
Depreciation 2000000
To other
Expense 15500000
To purchase 18000000
To Interest 4800000
To
Advertisement 1920000
To tax 5984748
To Net Profit 11795252
Total 60000000
By Sales
6000000
0
Total
6000000
0
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Balance sheet
Liability
To Capital 10000000
Loan
4000000
0
Loan Repaid 5877292
Loan to be Paid 34122708
Profit 11795252
Total 55917960
Asset
Land
2500000
0
Building after
Depreciation
1800000
0
Cash
1041796
0
Equipment 2500000
Total
5591796
0
Cash Flow Statement
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Cash Flow from operating
activities
Paid to Suppliers(Purchase)
-
18000000
Paid to office Expenses-15500000
Paid for Advertising 1920000
Sales 60000000
Tax -5984748 18595252
Cash flow from Investing
Activities
Land and Building
-
45000000
Equipment 25000000
-
47500000
Cash flow from financing
activities
Share Capital 10000000
Loan 40000000
Interest -4800000
Repayment of Loan -5877292 39322708
Net Cash 10417960
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Other Expense 475200
By Repayment of
Loan 7158567
By Interest 3518725
By Tax 12661723
By Advertisement 1920000
By Balance 18418945
Total 82417960
Profit and Loss Account
To
Depreciation 2000000To other
Expense 16740000
To purchase 22000000
To Interest 3518725
To
Advertisement 1920000
To tax 12661723
To Net Profit 249954804
Total 83795252
By Sales
7200000
0
By Profit B/D
1179525
2
Total
8379525
2
Balance Sheet
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Liability
To Capital
1000000
0
Loan34122708
Loan Repaid 7158567
Loan to be Paid
2696414
1
Profit
2495480
4
Total
6191894
5
Asset Land 25000000
Building after
Depreciation 16000000
Cash 18418945
Equipment 2500000
Total 61918945
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preference of store
0
10
20
30
40
50
60
Brand image Easy accessibility Special offer
Interpretation:-
From the above table and graph, it says that majority of the customers (i.e. 50%) prefer special
offers in the store and minority of them (i.e. 29%) prefer easy accessibility
4) Visiting hours
Frequency
Morning 40
Afternoon 29
Evening 31
Total 100
0
5
10
15
20
25
30
35
40
45
Morning Afternoon Evening
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Interpretation:-
From the above table and graph it says that majority of the customers (i.e. 44%) of them are
neutral to prefer the store for friendliness of staff and minority of them (i.e. 40% ) of them agree
that they will prefer the store for friendliness of staff
6) Preference of store due the variety of menu available in the store
Response Frequency
Strongly Disagree5
Disagree15
Neutral21
Agree 39
Strongly agree 15
Total 100
preference due to variety of menu
0
5
10
15
20
25
30
35
40
45
Strongly agree Disagree Neutral Agree Strongly agree
Interpretation
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9) Preference of store due to the cleanliness and store atmosphere
Response Frequency
Strongly disagree 2
Disagree7
Neutral25
Agree 40
Strongly agree 26
Total 100
preference due to ambience
0
5
10
15
20
25
30
35
40
45
Strongly disagree Disagree Neutral Agree Strongly agree
Interpretation:
From the above table and graph it says that majority of the customers (i.e. 40% ) of them agree
that they will prefer the store for ambience provided in the store
10) Preference store due the delivery speed offer by the store
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Response Frequency
Strongly disagree4
Disagree
20Neutral
15
Agree 41
Strongly agree 20
Total 100
preference due to delivary speed
0
5
10
15
20
25
30
35
40
45
Strongly disagree Disagree Neutral Agree Strongly agree
Interpretation:-
From the above table and graph it says that majority of the customers (i.e. 41%) of them prefer
the store due to delivery speed that is offered
11) Satisfaction with the menu offer for my family
Response Frequency
Strongly disagree7
Disagree16
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Neutral41
Agree 14
Strongly agree 14
Total 100
preference due to facilites
0
5
10
15
20
25
30
35
40
45
Strongly disagree Disagree Neutral Agree Strongly agree
Interpretation:-
From the above table and graph it says that majority of the customers (i.e. 41% ) of them saysthat they are neutral about preferring the store due to the facilities
13) Preference of store due to easy accessibility and locational advantage
Response Frequency
Strongly disagree4
Disagree18
Neutral15
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Agree 45
Strongly agree 15
Total 100
0
5
10
15
20
25
30
35
40
45
50
Strongly disagree Disagree Neutral Agree Strongly agree
Interpretation:-
From the above table and graph it says that majority of the customers (i.e. 45%) of them agree
that they will prefer the store due to easy accessibility and locational advantage
14) advertising strategy
Response Frequency
Strongly disagree 9
Disagree20
Neutral33
Agree 28
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Strongly agree 10
Total 100
0
5
10
15
20
25
30
35
Strongly disagree Disagree Neutral Agree Strongly agree
Interpretation:-
From the above table and graph it says that majority of the customers (i.e. 33%) of them are
neutral about the advertising strategy provided by the store and followed by that customers agree
the store for the advertising strategy
15) preference of store due to special offer and discounts
Response Frequency
Strongly disagree 4
Disagree20
Neutral15
Agree 41
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Strongly agree 20
Total 100
0
5
10
15
20
25
30
35
40
45
Strongly disagree Disagree Neutral Agree Strongly agree
Interpretation:-
From the above table and graph it says that majority of the customers (i.e. 41% ) agree that they
will prefer the store because of special offers and discounts.
Major Findings
This study indicates that majority of the customers visit the fast food retail store weekly
(i.e. 38%) and minority of them (19%) visit fortnightly
This study indicates that majority of the customers are willing to spend money of price
range 200-500 (i.e. 60%) and minority of them says that they will spend money of price
range 100-200 (i.e. 24%) in the fast food retail store
This study indicates that majority of the customers (i.e. 50%) prefer special offers in the
store and minority of them (i.e. 29%) prefer easy accessibility
This study indicates that majority of the customers (i.e. 44%) of them are neutral to prefer
the store for friendliness of staff and minority of them (i.e. 40% ) of them agree that they
will prefer the store for friendliness of staff
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This study indicates that majority of the customers ( i.e. 39%) of them agree that they will
prefer the store due to the variety of menu and minority of them (i.e. 21% ) of them
neutral about the variety of menu in the store
This study indicates that majority of the customers (i.e. 33%) of them disagree that they
will prefer the store due to the calorie content in the food and minority of them (i.e.
31%) agree that they will prefer the store due to the calorie content in the food
This study says that majority of the customers (i.e. 40% ) of them agree that they will
prefer the store for ambience provided in the store
This study says that majority of the customers (i.e. 35% ) of them agree that they are
satisfied with the menu that was offered in the fast food store and followed by some of
them are neutral about the menu for their family
This study indicates that majority of the customers (i.e. 45%) of them agree that they will
prefer the store due to easy accessibility and locational advantage
This study indicates that majority of the customers (i.e. 33%) of them are neutral about
the advertising strategy provided by the store and followed by that customers agree the
store for the advertising strategy
This study indicates that majority of the customers (i.e. 41% ) agree that they will prefer
the store because of special offers and discounts.
MAJOR IMPLEMENTATION
As majority of customers (38 percent) visit the store weekly especially weekends. So it is
suggest to stores give special offers and discounts to capture more customers and retain
loyal customers.
As study refers more customers are looking for the special offers ,so it suggest stores to
more concentrate on the special offers but no compromise in the quality of food.
It is found that majority of customers are not fully satisfied with the friendliness of staff.So it is suggest that the stores should conduct soft skill training and make them give more
customer service .Regular monitoring of the staff behavior towards customers is also
suggest here.
Customers are happy with the MENU verities available in the stores .But it is suggested
that add more customized menu and review the menu for every 3 months.
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As study shows that customers are not aware of the calorie contents exist in the food. So
it is suggest that stores should display the calorie contents available in a particular food.
It is suggest the stores to concentrate on the areas of ambience and locational strategy.
Advertising strategy of the stores are not making attention the customers .So it is suggest
the stores to think of the design of different innovative advertising campaigns.