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Transcript of Red Lobster
Heavy Competition Not only does Red Lobster compete with casual and premium casual dining restaurants, they also face competition from local seafood restaurants. Perception Red Lobster suffers from the perception of “having frozen fish” and being only slightly above fast food with all their fried menu items. Segmentation Red Lobster has a wide array of customers with many different perceptions of Red Lobster. This makes it hard to specialize and meet the needs of every type of customer. Team 7
Kristen Willingham Suggested Course of Action Renovate certain Red Lobster’s based on key demographics (location, avg. income, etc.)
Determine who Red Lobster’s primary target market is via research and cluster analysis.
Continue with aggressive PR and promotional tactics to help change the perception of Red Lobster from ‘fried’ to ‘fresh’. Conduct market research to determine if having multiple menus with different styles, options, and presentations is a viable option for Red Lobster locations based key demographics.
Add hamburgers, salmon-burgers, and seafood sandwhichs to the menu.
Conduct research to determine if selling Cheddar Biscuits in a tube (i.e. Pillsbury) in certain grocery stores based on location is a good option.
Research potential international markets (UK, Northern EU, Eastern EU, Western Canada). Why it
Will Work Only renovating certain Red Lobsters based on key demographics will allow the company to compete with upscale restaurants in certain areas (coastal & higher income) while also keeping the casual aspect in more rural areas.
By finding a specific target market for Red Lobster, they will be able to cater to their customers wants and needs more easily.
By continuing to use aggressive PR, promotions, and advertising, Red Lobster can continue to change perception from frozen, cheap sea food, to fresh sea food at an affordable price.
By having different menu options and presentations, Red Lobster can continue to cater to traditional customers who expect “the classics” and also cater to the “experientials” who want to be wowed with fresh seafood. Adding hamburgers, a salmon-burger, and seafood sandwich's will allow Red Lobster to compete more closely with ‘bar and grill’ type restaurants while also offering more seafood options.
Putting canned cheddar biscuit dough in supermarkets will allow for Red Lobster to capitalize on one of their biggest competitive advantages outside of the restaurants.
Researching international markets will allow Red Lobster to look into potential opportunities abroad while not making any rash decisions and ending up like Disney and Wal-Mart. Tactics STP Continue to renovate certain Red Lobsters locations based on key demographics while also keeping some locations the same based on those demographics (to be done by 2014).
Perform market research and cluster analysis to determine Red Lobsters ultimate target market. Product & Service Add hamburger options to all menu’s by 2014.
Add salmon-burgers and seafood sandwich options to all menus by 2013. International Conduct research on entering targeted foreign markets to see if it is a viable option (UK, Northern & Eastern EU, and Western Canada). Price Keep all pricing the same/on par with casual dining chains. IMC Continue to run aggressive integrated PR/Advertising campaign to help eliminate the perception of poor seafood quality (continue with ‘Endless Shrimp’ and ‘Lobster Fest’ and add a Summer Fresh Fish promotion). Distribution Continue with current distribution strategy. Retailing Integrate canned cheddar biscuit dough into all major grocery stores by 2014.