Restaurant Competitor Analysis Worksheet
Prepared By: | [YOUR NAME] |
Company: | [YOUR COMPANY NAME] |
Department: | [YOUR DEPARTMENT] |
I. Executive Summary
A. Overview
This document provides a comprehensive competitive analysis for [Your Company Name], to assess and compare your restaurant business against key competitors. The analysis covers various metrics including market position, pricing, menu offerings, customer reviews, marketing strategies, and overall performance.
B. Objectives
Identify strengths and weaknesses relative to competitors.
Discover market opportunities.
Inform strategic decisions to improve market position.
II. Competitor Identification
Fine Dine Bistro
Savory Eats
Tasty Bites
Secondary Competitors
Flavor Haven
Culinary Bliss
III.Market Position
A. Market Share
Fine Dine Bistro: 25%
Savory Eats: 20%
[Your Company Name]: 15%
B. Geographic Reach
Fine Dine Bistro: Nationwide presence with 50 locations.
Savory Eats: Regional presence with 20 locations in the Northeast.
[Your Company Name]: Local presence with 5 locations in Foodtown.
IV. Pricing Strategy and Menu Offerings
A. Price Comparison Table
Menu Item | [Your Company Name] | Fine Dine Bistro | Savory Eats |
---|
Appetizers | $8 | $10 | $9 |
Main Courses | $20 | $25 | $22 |
Desserts | $7 | $8 | $7 |
Beverages | $5 | $6 | $5 |
B. Pricing Observations
[Your Company Name] offers competitive pricing on appetizers.
Fine Dine Bistro is more expensive on main courses.
Savory Eats matches [Your Company Name]study on dessert prices.
C. Menu Offerings
Unique Selling Propositions (USPs)
[Your Company Name]: Fresh, locally sourced ingredients.
Fine Dine Bistro: Elegant dining experience with gourmet dishes.
Savory Eats: Comfort food with a modern twist.
Menu Variety
[Your Company Name]: 50 menu items.
Fine Dine Bistro: 60 menu items.
Savory Eats: 45 menu items.
V. Customer Reviews
A. Review Summary
Platform | [Your Company Name] | Fine Dine Bistro | Savory Eats |
---|
Yelp | 4.5/5 | 4.0/5 | 4.2/5 |
Google Reviews | 4.6/5 | 4.1/5 | 4.3/5 |
TripAdvisor | 4.4/5 | 4.0/5 | 4.1/5 |
B. Common Themes in Reviews
[Your Company Name]: Positive feedback on freshness and flavor; occasional complaints about wait times.
Fine Dine Bistro: High praise for ambiance; mixed reviews on portion sizes.
Savory Eats: Customers love the unique twist on classic dishes; some note inconsistencies in service.
VI. Marketing Strategies
A. Online Presence
[Your Company Name]: Active social media engagement, monthly blog updates, and email newsletters.
Fine Dine Bistro: Focuses on Instagram and Facebook, with professional photography of dishes.
Savory Eats: Uses social media for promotional offers and customer interaction.
B. Promotional Activities
[Your Company Name]: Seasonal promotions, loyalty programs, cooking classes.
Fine Dine Bistro: Wine pairing nights, live music events.
Savory Eats: Holiday specials, kids eat free on Tuesdays.
C. Social Media Engagement
[Your Company Name]: 10k followers on Instagram, 8k likes on Facebook.
Fine Dine Bistro: 15k followers on Instagram, 10k likes on Facebook.
Savory Eats: 12k followers on Instagram, 9k likes on Facebook.
VII. SWOT Analysis
A. [Your Company Name]
Strengths
Weaknesses
Opportunities
Threats
B. Fine Dine Bistro
Strengths
Weaknesses
Opportunities
Threats
VIII. Conclusion and Recommendations
A. Key Findings
Gourmet Delight has a strong reputation for quality and freshness but faces challenges with geographic reach and peak hour wait times.
Competitors offer different strengths, such as ambiance and unique menu items, which can be leveraged for strategic improvements.
B. Strategic Recommendations
Enhance Menu Offerings:
Improve Customer Engagement:
Adjust Pricing Strategy:
Expand Marketing Efforts:
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