The Yolk-ay restaurant’s menu is majorly composed of egg dishes. The business specializes in egg products and has served its customers with quality eggs. However, after fifteen years, the restaurant chief executive officer Mr Rohit dreams and plans for expansion not only in terms of market share but also in terms of menu. The popular United Arabs Emirates restaurant had been known for decades as the best producer of traditional Indian eggs. The restaurant serves various eggs products such as masala omelettes and eggs curry. Today, the manager intends a change in the menu from the chefs. The chefs want to bring in a different menu from his great-aunt that was sourced from a cookbook from America. This implies the traditional Indian menu can be mixed with American egg dishes.
Further, the new expansion plans would involve the addition of vegetable products and poultry. As for the 52% of the customers, a simple traditional Indian egg product is okay, and they would not want to change the status quo. Only 48% of the customers prefer a change in the restaurant menu to include other additional products on the menu.
From the above, it can be noted that Yolk-ay restaurant’s customers have some special value and attachment to the traditional Indian egg dishes. The customers prefer the current dishes in which they have the special traditional and cultural attachment. The customers do not wish that the value they get from the traditional egg dishes to be changed. In a nutshell, consumers are satisfied, and they feel that they get value for their money.
For customers to prefer and stick to the restaurant’s menu, it must have a special relationship with the three essential marketing elements. The 3Ps, which are price, product and promotion must have been considered by the restaurant management to attract 52% of the loyal customers to maintain the menu. Despite the high profits realized, Mr Rohit ensures that the prices charged for the traditional Indian egg dishes are affordable and aligns with the market price. The restaurant must be using a pricing strategy that ensures that revenue is above the total expenditure while at the same time ensures that prices are affordable for the customers. It can be observed that the restaurant has loyal customers who prefer their products to other egg dishes providers. Forming a strong customer base requires considerable pricing that balance between profits and maintaining customers.
Product- the egg dishes from Yolk-ay restaurant are of unique quality. They are made with various ingredients that create core benefits and quality that customers love. Yolk-ay menu contains special packaging and brand that attracts more loyal customers. The egg products provided in the restaurant must be of high quality as compared to other rivals in the area. From the case, study, it can be noted that other competitors are providing similar egg dishes.
Nevertheless, Yolk-ay restaurants still have loyal customers who prefer that it maintains its original menu. This implies that the egg dishes provided in the restaurant are of high quality. The head chef is noted to be a senior chef specialized in traditional dishes; therefore, the dishes cooked at the restaurant are quality ones. For customers to attach high value to a certain product, the product must have the value that meets the customers’ expectations and preferences. From the case study, Yolk-ay customers attach special food value to the egg dishes they get from their producer.
Place- another reason for the outshining of Yolk-ay menu is its strategic location that ensures efficient and effective access. The restaurant is located in different places such as Dubai’s Al Karama, India, Pakistan and Bangladesh, among other places. Yolk-ay is a chain of stores that provides egg dishes to various customers; thus, the supply flows smoothly. One of the essential things to consider when starting a business is the location of the business. An entrepreneur has to identify a strategic location from which the supply can move freely and reach the customers easily. Mr Rohit must have considered its location of the restaurant and placed it in a place that would attract as many customers as possible.
Further, being an Indian eggs specialized restaurant, the manager opened its main branch in India to serve the increasing number of customers. Today, the restaurant management is considering to start delivery services that will ensure goods are delivered to the customers at their doors. Even though delivery may be expensive for the restaurant, it is a necessary risk that should be taken.
Price- Products price is the only factor that defines revenue in the mix; therefore is one of the essential elements. It entails putting price level at the market price, employing appropriate payment methods and allowing customer’s discounts. It is essential to note that price determines demand and supply of the egg dishes, and it should be checked keenly. If Yolk-ay charges affordable prices at the prevailing market price or slightly below the market price, then more customer will defiantly buy the products.
A good mixture of price, product quality and place for the restaurant is the primary success factors behind its exponential growth. From the above analysis, Yolk-ay restaurant’s customers have some special value and attachment to the traditional Indian egg dishes. The customers prefer the current dishes in which they have unique traditional and cultural attachment. The customers do not wish that the value they get from the traditional egg dishes to be changed. The traditional Indian egg dishes are unique and have a special cultural value attached they would not want to change. Dreams for expansion may actualize with proper planning to ensure that egg dishes are served in a large market share. The restaurant must be using a pricing strategy that ensures that revenue is above the total expenditure while at the same time ensures that prices are affordable for the customers. It can be observed that the restaurant has loyal customers who prefer their products to other egg dishes providers. The current menu meets 58% of customer’s taste and preferences.