COMM 3590 Unit 7 AS: Sales Presentation
Select a product or service and present a 5-7 minute presentation asking your audience to purchase that product or service. Choose a product or service that your audience is “qualified” to purchase. The presentation should use visual aids and appropriate persuasive strategies to convince the audience. Three references and a works cited are required.
Just like with your technical presentation you are responsible for gathering your own audience (minimum 8 adults), filming your speech, and uploading it for grading.
Did you know that the fast-casual dining concept is the fastest growing segment in the food industry? The fast casual is an emerging dining concept that falls between fast food outlets and the casual or traditional restaurants. According to the QSR Magazine, the average foodservice sales increased by 0.4% between 2014 and 2015 (1). The largest share of this growth is attributed to the fast casual segment, which recorded a 10.4 percent growth in the same period. The high growth in the fast casual segment represents a shift in consumers’ dining preferences. Having worked in the fast food restaurant, I have confidence to say that the fast casual concept is likely to take over the foodservice market in the next five years. My name is sss and I will tell you why most consumers are shifting preferences in favor of the fast casual restaurants.
What is the problem you are solving?
Dining in fast food restaurants has become increasingly common due to the convenience, taste, and affordability of food. However, health concerns have emerged over the quality of food served at fast food restaurants and its contribution to the obesity menace in not only the U.S. but in other parts of the world. According to Marlatt et al, fast food consumption increases the risk of higher body fat, insulin resistance, glucose levels, low-density lipoprotein cholesterol levels, and triglycerides (49). These elements have negative impacts on the health of individuals. Another study by Burgoine et al. concluded that there was a combined effect of fast food outlets availability and the level of education on consumption of fast foods, which contributes to higher levels of obesity and other lifestyle diseases (1547). On the other hand, majority of consumers are unable to take meals regularly from the casual restaurants due to cost concerns and convenience.
How does your product or service solve the problem?
Fast casual restaurants help in eliminating the problems eminent in the fast food restaurants and those in casual restaurants. Fast casual restaurants have better menu offerings in terms of the quality of food. These restaurants are characterized by use of fresh ingredients, customized foods, and low-fat menus (Trefis Team, 2014). This will help in meeting the current health needs of the population by providing healthier menu offerings. Fast food restaurants offer highly processed foods to customers and that are prepared using standardized procedures. Consumption of highly processed foods increases the risk of obesity and other lifestyle diseases. The fast casual restaurant will provide convenience and affordability. Prices will also be consumer friendly at an average $7.5 per meal.
What is your business plan?
How much does it cost?
Average price for meals in fast food restaurants is $3 to $6, while that in fast casual restaurants is $7.5 (Trefis Team, 2014). Casual restaurants charge highest prices, minimum cost of a meal being $13. As earlier mentioned, the fast casual is between the fast food outlets and the casual restaurants. The charges for food are moderate, reflecting the higher quality of foods served in fast casual restaurants. Consumers will be willing to pay slightly higher than in fast food restaurants due to improved quality of food. The total cost of putting up the business will amount to about $250,000.
Who is your audience?
The target market is youths enrolled in college and those who are in employment. The fast casual dining concept is more popular among the youth who are becoming increasingly conscious of the need to take healthier meals. The restaurant will appeal to youths in the medium income bracket. The fast casual restaurant will be located in a busy intersection to maximize on both walk in customers and orders from businesses and employees working in various enterprises. The suitable location will be a busy street where there are many businesses. This will help in targeting those in the middle-income bracket.
How do you plan to grow?
The primary method of expansion will be through franchising. Franchising is a business concept whereby the owner of a business (franchisor) gives another party (the franchisee) the right to a tradename and production process for a fee. The franchisee must meet the specifications set out by the franchisor. The major benefit of expanding through franchising is the low capital involved. The franchisees use their own capital to develop their businesses. Expanding through franchising gives a higher return on investment since there is less capital involved. In addition, the franchisees are likely to work hard to ensure the business succeeds since they risk their own capital by starting a franchise.
Do you want to keep the business for yourself or sell it to a bigger company?
It is my hope to keep and expand the business in future. The business will start as a single store and later expand using a franchise model. Franchising will allow me to retain much control of how the business runs and expand easily into new locations.
Will you advertise?
It is important to consider placing advertisements in order to create awareness of the existence of the business. The form of advertising that is most suitable for the restaurant is geo-fencing. Geo-fencing is a new form of advertising that uses GPS technology to reach customers. Geo-fencing enables the user to trigger certain promotional messages on potential customers’ phone when they come within a certain radius (Constine, 2017). For instance, one can use a smartphone to trigger certain promotional messages on potential customers’ smartphones through social media sites such as Instagram and Snapchat, which already provide geofilters to those who want to advertise.
In what places? Be realistic
Advertising will be specifically on social media platforms such as Instagram and Snapchat. Relatively younger people, who are also the main target of the business, utilize these social media platforms. Advertising through the social media will be cost effective compared to advertising using traditional forms of communication such as the mass media. Since the business will serve a particular geographical niche, advertising on social media using geo-fencing will allow targeting of customers within a specific radius.
The new casual restaurant will provide healthy menu offerings to customers and at an affordable price. I would like to encourage you to sample the foods we are offering because they are fresh and quality menu offerings. Feel free to give use feedback about your experience at our new outlet.
Burgoine, Thomas, et al. “Does Neighborhood Fast-Food Outlet Exposure Amplify Inequalities in Diet and Obesity? A Cross-Sectional Study.” The American Journal of Clinical Nutrition, vol. 103, no. 6, 2016, pp. 1540-1547.
Constine, J. (2017, May 25). Instagram launches story search for hashtags and locations. Retrieved from https://techcrunch.com/2017/05/23/instagram-stories-search/
Hobbs, Matthew. Obesity is Linked to Where You Live – would Regulating Fast-Food Outlets Change this?. London: Independent Digital News & Media, 2018. ProQuest. Web. 27 Apr. 2018.
Marlatt, Kara L. et al. “Breakfast and Fast Food Consumption Are Associated with Selected Biomarkers in Adolescents.” Preventive Medicine Reports 3 (2016): 49–52. PMC. Web. 27 Apr. 2018.
QSR Magazine. Fast Casual Is the Fastest Growing Foodservice Segment Globally. (2016). https://www.qsrmagazine.com/news/fast-casual-fastest-growing-foodservice-segment- globally
Trefis Team. (2014). How the fast casual segment is gaining market share in the restaurant industry. Forbes.