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9
A
taste of
Little
SIA
By: The 3Tres Amigos
Nick Clay
Alexis Cooper
Sydney Covin
Matt Darnley
Jett Dembin
Tres Amigos
- 2,327 people per square mile
- Urban area is the 26th largest in the country
- $48,500 med. per house hold
- 5,000+ pop. per sq. mile
- 6,907 residents
- 9,662 Full-time employess
Secondary
- Orlando
- Demographic
- Income
Get Connected
Personal Interviews
Primary
- Cheaper
- Flexible Hours
- Convenient
- Quality
- Students
- Social Media Trend
- Positive Reviews
Target Market
https://www.ucf.edu/news/accomplished-incoming-class/
- UCF Students
- 18-24 year olds
- Social media
- Lunch and dinner time
- Accessible location
https://www.ucf.edu/news/new-scholarships-to-increase-aid-for-directconnect-to-ucf-students/
Topic
Business Strategy, Competitor Analysis and Positioning
Business Strategy
Want to provide an "authentic twist to traditional asian cuisine"
- Affordable
- Fresh
- Easily accessible
Competitor Analysis
Multi-attribute model
- Panda Express: 3.7
- Sus-Hi: 8.2
- Kyoto: 5.7
Attributes: Price, timeliness, taste, quality
Positioning Statement
For UCF students and young professionals in the area, A Taste of Little Asia is the fresh Asian Food Truck that delivers an authentic twist to traditional Asian cuisine, that’s affordable, fresh every time, and easily accessible to our customers because A Taste of Little Asia, and only A Taste of Little Asia, provides you a quick and healthy alternative to Asian food.
Positioning
SMART Goals
- Goal 1: Attract UCF students to our food truck with promotions and get them to tell their friends to make it the most popular place to eat on campus, within a year of opening
- Goal 2: Track and generate at least enough revenue to buy another food truck and operate it within the next two years
Brand
Brand Identity
Our brand identity that we want to communicate is to bring a friendly, outgoing, taste of all types of Asian cuisine to all
Brand name
Our brand name is A Taste of Little Asia because our business brings to its customers a variety of Asian food from different countries, and packs it into a “little” truck.
Logo
Logo
Color Scheme
Personality
Our brand personality is humorous and outgoing. In a world that can be so serious, we want to provide our customers with a lighthearted experience to brighten their day.
Personality
Slogan
A taste so big, you would never believe “little” was in our vocabulary.
Slogan
Big Flavor
- Advertising
Topic
- Sales Promotion
- Public Relations
Advertising?
Notes
- Targeted Ads (mainly Instagram)
- Posted ads in the morning
- According to Forbes
"People are most likely to check their phones within 15 seconds of waking up, and mostly 18-29 years old"
- Strategic posting times
Promotion?
- rate us on Yelp and/or Facebook
- positive review= BOGO
- partner with services like Zupp
- our target market who makes below 20,000 dollars a year, so giving promotions will help bring in buyers
We are, For the Public
- will only use locally grown fruits, vegetables, and livestock
- promote freshness
- help support local businesses
- Earth Day proceeds benefit
Financials
Marketing Calender
- Marketing plan requires roughly$5000 per month
Topic
Month 1: Ad focused month
- 20 Instagram and Facebook ads posted throughout the month equaling at a 10/10
Month 2: Grand opening
● Promotion
● Social Media
● Coupons
● Zupp
Month 3: Evaluate effectiveness of marketing efforts
- see how many of our customers are using
- Zupp
- responding to sales promotion with Yelp
- engaging in our posts on Instagram and Facebook days/times our food truck is most busy
Total Costs for First Three Months
- 1st month $33.50 for 5,000 clicks,
- 2nd month $67 for 10,000 clicks,
- 3rd month $33.50 for 5,000 clicks.
Total ad costs
- ads will cost $35.95 for 5,000 clicks
Marketing Financial Dashboard
Overview of Financials
Total Sales
- 100 customers per day - 20 promo customers= 80 profitable customers 80*6 days a week = 480 customers. 480 customers * 12.50 average per meal = $4,800 a week in food sales. $4,800 a week * 4 weeks = $19,200 in sales per month
- 50% of those customers are generated from Social media advertisements. $4,800/.50 = $2,400
- Expecting to gather 50 per week *12.50 = $625
Return on Marketing Investment
- (Sales Growth - Marketing Cost) / Marketing Cost= ROI
- (19200-5000)/5000= 2.84
Customer Lifetime Value
- Formula: Average years we keep a customer x Average profit per year per customer – Customer Acquisition cost= ROI
- (.5 * 230.4)-3.26=$111.94
Cost per Acquisition per Customer
- For month one, the cost per acquisition per customer would be $3.15.
- For month two, the cost per acquisition per customer would be $3.17.
- For month three, the cost per acquisition per customer would be $3.15.
- Continuing after that, the cost per acquisition per customer would be $3.26.
Cost per Retention per Customer
- Our cost per retention per customer assumes we get 100 customers a day.
- Retain 75% of that 3000, we will have 2250 customers going into month two
- With our retention costs only being $3000 in month two, our cost per retention per customer will be $0.75.