Essay about Swot Analysis : Restaurant Restaurants And Luxury Retailers

Essay about Swot Analysis : Restaurant Restaurants And Luxury Retailers

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GiltCity Review
GiltCity targets upscale restaurants and luxury retailers for daily deals and other incentives, which distinguishes the company from the crowded field of coupon-selling companies. Although this marketing option is only available in limited cities in the United States, fine dining restaurants can reach a targeted customers who earn more than $100,000 annually, and the incentives available aren 't always financial but often include perks like backstage access to concerts and entertainment venues, conversations with the head chef, celebrity meet-and-greets and other value-based inducements.

Of course, worrying about devaluing your upscale restaurant by offering discounts might not matter as much as you always feared. Upscale restaurants can often set their own rules, based on their customers, cuisine and reputations. We 've regularly warned restaurateurs in our posts about the dangers of devaluing their brands by offering too many incentives and running coupons that reduce regular prices.

A recent report by the University of Maryland 's Business School confirmed this devaluation phenomenon among restaurants through clinical studies and analyses and concluded that Groupon-style offers can damage restaurant reputations, especially eateries that offer lower priced meals. However, the study found that upscale restaurants tended to be immune from this risk, possibly because their customers don 't expect to get lower prices on every visit. Regardless of your marketing strategy, you can reach fine dining audiences more effectively with GiltCity’s carefully crafted marketing approach.

GiltCity History and Profile
GiltCity is owned by Gilt Groupe, an eCommerce company that offers high-end fashion, luxury goods and home déco...

... middle of paper ...

...e hits from slowdowns in the market, and we 're not entirely sure that the company has as bright a future as its approach promises. We also feel that there are refined audiences in every American city and that the company 's "exclusive" policy could result in a backlash from perfectly viable markets across the country. We think that these markets are just as important as questionable plans to target Chinese cities.

Final Assessment
If you want a turnkey approach to offering incentives to the one-percenters in major metropolitan markets, GiltCity seems to fulfill demanding criteria for marketing fine dining establishments to wealthy audiences. However, don 't dismiss other marketing options where you can educate your customers, foster loyalty and build your own customer profile based on a unique selling proposition, culinary excellence and exacting service standards.

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