Group Project Phase 1: Competitive Analysis

Case Study of Zara Restaurants and Lounge

Student Name
Roll Number or Student ID
Course Code or Program Enrolled
Date Submitted

Group Project Phase 1: Competitive Analysis

 Contents
• Introduction
• Study Background
• About Company
• Competitor Analysis
• Market Analysis
• Conclusion
• References

COMPETITIVE ANALYSIS | CONTENTS

 Introduction
Market Competitive Analysis mean:
• Identifying your competitors
• Evaluating their strategies
• Determine their strengths and weaknesses relative to those of your own product or
service.
A competitive analysis is a critical part of your company marketing plan.

INTRODUCTION
 Study Background
• To understand the strengths and weaknesses of Zara Restaurants and Lounge
competition-or potential competition in Erie, Pennsylvania, United States.
• To assess competition on a regular basis to run the business.
• To find the NAICS codes first, and then determine generic descriptions of the industry and
the general products that this industry produces.
• To determine who are the main competitors of Zara Restaurants and Lounge.
• To determine the strengths and weaknesses of the competitors.
• To perform market analysis and existing restaurant market situation in Erie.
• To determine the key success factors for restaurant business in Erie.

BACKGROUND
 About Company
• The name of our startup Restaurant Company is Zara Restaurants and Lounge.
• The aim of the business is to set realistic business expectations in the market
• The aim is to have a final product, financial and marketing plan that not only meets our
capital funding needs but is used as our daily business plan.
• Our competitors are divided into Direct Competitors and Indirect Competitors category
and these are:
 Bloomin' Brands – Direct Competitor
 Darden Restaurants – Indirect Competitor
 McDonald’s – Indirect Competitor

ABOUT COMPANY
 Competitor Analysis
Zara Restaurant and Lounge Bloomin' Brands Darden Restaurants McDonald’s

Zara Restaurant and Bloomin' Brands is one Darden Restaurant has

McDonald's is not
Lounge is the name of of the leading become increasingly
currently in the market
our startup company restaurants in Erie and popular and successful
OVERVIEW area of Zara but it is still
and it seeks to create this restaurant also as a restaurant for
the highly valuable
realistic business competes primarily for companies as well as
brand in the area
expectations in Erie. Zara locals.
PROFILE

• The extraordinary and

• Tapas and Entry list
traditional restaurant • The model tapas • Traditional food menu
COMPETITIVE • experience like a party
ADVANTAGE design and layout • emerging market for • Good customer
• crowd and boost bar
What value • A three-tiered spatial after-hours dining retention at Bar
do you offer sales
layout • better after-hours • Formal dinner system
customers? • Meeting exact customer
• Management/Chef dining option
requirements
Stock Incentive Program

COMPETITOR ANALYSIS
 Market Analysis
The number, size and distribution of establishments in the Restaurants industry (NAICS: 7225)
in Erie is shown as:

MARKET ANALYSIS
 Market Analysis
There are two key divisions of the restaurant industry in Erie: the casual restaurant and the
great restaurant

Erie Restaurant Industry Current Scenario

Industry Group NAICS Retail Potential Retail Sales (Supply) Retail Gap

(Demand)

Restaurant/Other 7225 $297,905,851 $337,583,327 $39,677,476

Eating Places

MARKET ANALYSIS
 Success Factors
This restaurant business differentiates from the market by the development of a unique and
innovative fine dining experience
• Unique design and decoration
• Comprehensive personalized food menu
• Distribution of most globally and international food items
• Training and development programs for staff
• Corporate operations and maintenance costs
• Well-defined marketing and advertising plan

SUCCESS FACTORS
 Conclusion
Two things to consider for Restaurant Business in Erie
• Industry is already being captured by the leading restaurants and food chains
• Supply of food and beverage items in the industry is also high

CONCLUSION
 References
Albayrak, T. (2015). Importance Performance Competitor Analysis (IPCA): A study of hospitality
companies. International Journal of Hospitality Management, 48, pp.135-142.

Classification Development Branch, E. (2017). NAICS Search. [online] Census.gov. Available at:
https://www.census.gov/cgi-bin/sssd/naics/naicsrch?code=454110&search=2017%20NAICS%20Search
[Accessed 08 Oct. 2019].

Erie New Now. (2019). Food Service Equipment Market – 2019 Industry Trends, Size, Growth Insight, Share,
Emerging Technologies, Share, Competitive, Regional And Global Industry Forecast to 2025. [online].
Available at: https://www.erienewsnow.com/story/41071855/food-service-equipment-market-2019-
industry-trends-size-growth-insight-share-emerging-technologies-share-competitive-regional-and-global-
industry [Accessed 08 Oct. 2019].

EriePa. (2019). A Competitive Realities Report & Target Industry Strategy for Erie County, Pennsylvania.
Available at: https://www.eriepa.com/uploads/resources/618475_erie-final-tis-report-05142019.pdf
[Accessed 08 Oct. 2019].
REFERENCES