Topic > Difference between the promotional strategy of Toys "R" Us and the Food Hall at Lansdowne Mall

Improving the retail sector is a multi-pronged effort in which it is necessary to evaluate through marketing analysis, marketing strategies and staff training in the family Commercial activity. Better business depends on proximity to a good market. Lansdowne Mall in Richmond, British Columbia is located near Kwantlen University College, Langara College, Emily Carr University, Richmond Hospital, among many other institutions, therefore, plans should be put in place to get a feel of the population, needs and then adapt the marketed offerings to meet demand rather than setting up a shopping mall with the hope that customers will comply. To delve deeper into your marketing evaluation, it is best to use the strategic 3C model: Company, Consumer and Competitors, where you take a closer look at the marketing possibilities for your restaurant business and the efficient use of space that can aid marketing and customer perspectives. By examining the well-populated Toys “R” Us business and food court, which is located across the street from Lansdowne Mall, we can compare marketing techniques and results. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay Obtaining a clear evaluation of the restaurant business, consumers (neighbors, community and competitors, devising marketing strategies suitable for the target audience) would be facilitated. First of all, the performance of the catering company must be evaluated. In business strategy, thorough introspection must be done on assets and liabilities and cost effectiveness. Optimizing the company's strengths is critical in formulating this strategy (Ohmae 6). For example, low food court revenue is due to excess spending on raw materials that are not needed, can be purchased cheaper, or can be produced independently should the customers be, so a company would do well to investigate the their business prospects and their desires. Customer-focused strategies are screened through a process called segmentation and resegmentation. Customer goals for supporting (or not supporting) the food court venture help strategize changes to the market. Another advantageous strategy is to look closely at the demographic and geographic distribution of customers where the ethnic, generational, economic, social, and even religious composition of the customer base is explored and exploited (Wilson 7). Based on the 2009 British Columbia census, the Richmond, British Columbia food court has a population of 18.2% of the population aged 17 and under, 13% of the population aged 65 and over (City of Richmond 2); therefore, since almost 20% of Richmonites are young, the food court would offer delicacies in line with their preferences – at the same time, the elderly and patients from the nearby hospital should not be neglected so that recommended healthy foods appear on the menus. The competitive advantage to becoming and staying at the forefront of business is to maintain awareness of your competition. Having a distinctive image is valuable as it distinguishes one business from another food court from another. The unique characteristics that the food court may possess may not be as appealing to the public as the Toys “R” Us next door. Human resources, financial resources and energy acumen are the most critical aspects to gain an advantage over another supplier of the same product. Elements such as reports, press releasespress, management statements, hiring, campaigns and investments are the essential elements of competition strategy (Net MBA 5). Thanks to these investigations, instead of simple parking areas, the spaces between Toys “R” Us will be able to be fully used by setting up playgrounds, fairs and art exhibitions that are fun but at the same time educational. The international food tasting, sponsored by the food court, can attract a more diverse population of customers whose interests would be piqued. Chinese, East Indian, English, Scottish, German and Filipino are the main population categories represented in Richmond. This diverse composition presents both a challenge and an opportunity for the astute businessman. The appeal of food culture is global, so reaching out to the community and internationalizing the food court a little can go a long way in making customers feel there is a connection. According to British Columbia's 2009 income report, the average annual income per capita is around $55,000. Compared to the rest of Canadian communities, this statistic is relatively low, so moderately priced items, garage sales and flea markets are alternative ways to fill the vacancy between Toys "R" Us and the Food Court at Lansdowne Mall. stores in the Lansdowne Mall food court seemed to draw on the family unit as their primary source of human resources. However, staff also need training and improvement in handling customers professionally. To consolidate an effective staff, you need to implement training programs that include customer reviews, peer evaluations, financial incentives and executive promotions. Lansdowne businesses are family run and the benefit is that there is a greater possibility of consistency among staff members, flexibility, understanding and sacrifice that goes above and beyond the call of duty; however, the dangers that lie in this family business structure are exclusivity, sameness (instead of diversity), carelessness, and complacency about work (since dismissal may be less common in ranks with family members ). The obstacle that is “the most disturbing conclusions about the negative effects of entrenching family ownership… (because) innovation can cannibalize existing businesses. The situation gets even worse if the rooting is accompanied by a pyramidal corporate structure” (Davis 3). In other words, family businesses are more open to change. Using methods different from those of the ancestors is perceived as a betrayal against centuries-old tradition, while pyramidal hegemony not only causes a cycle to develop, but also a monopoly of a few. The resulting stagnation is the valid explanation for the lack of customers and positive feedback at the British Columbia food court. The solution would be to diversify the work by introducing new (and vibrant) staff members who would vary the atmosphere and bring something new to the table. Another reason why family businesses fail or do not realize their full potential as businesses is the habit of digging tunnels where family members unfairly take advantage of the privileges resulting from the dual role of director and family and “businesses controlled by the same family they often obtain goods, services, or financing from each other in the normal course of business (Morck 4). As a corollary, resources are recklessly plundered until business dwindles to nothing. Responsible use of the product for sale decreases financial production, which reduces liabilities and enriches profits. Strengthening already weakened family businesses at the Lansdowne Food Court.