Harvard Case - Chirpin' Tavern's Coupon Promotion
"Chirpin' Tavern's Coupon Promotion" Harvard business case study is written by Asim Ansari, Silvia Bellezza, Oded Netzer, Olivier Toubia. It deals with the challenges in the field of Marketing. The case study is 2 page(s) long and it was first published on : Aug 26, 2021
At Fern Fort University, we recommend Chirpin' Tavern implement a multi-pronged marketing strategy focused on brand building, customer loyalty, and strategic use of digital channels. This strategy will involve a redefined coupon program, enhanced social media presence, targeted advertising, and data-driven customer relationship management (CRM) to drive sustainable growth and profitability.
2. Background
Chirpin' Tavern, a popular local pub, faces a dilemma. Their current coupon-heavy strategy, while attracting customers, is eroding profit margins and potentially damaging brand perception. The owners, John and Mary, are seeking a more sustainable and profitable marketing approach.
3. Analysis of the Case Study
Using a SWOT analysis framework, we can identify Chirpin' Tavern's strengths, weaknesses, opportunities, and threats:
Strengths:
- Strong brand recognition: Chirpin' Tavern is well-known in the community for its friendly atmosphere and quality food.
- Loyal customer base: Regular patrons appreciate the tavern's consistent service and familiar environment.
- Experienced management: John and Mary have a deep understanding of the local market and customer preferences.
Weaknesses:
- Reliance on coupons: The current coupon-driven strategy is unsustainable and negatively impacting profitability.
- Limited digital presence: Chirpin' Tavern lacks a robust online presence, limiting its reach to younger demographics.
- Lack of data-driven marketing: The tavern lacks a system to track customer behavior and tailor marketing efforts.
Opportunities:
- Growing demand for local experiences: Consumers are increasingly seeking authentic and local dining experiences.
- Expansion of digital marketing channels: Social media, online advertising, and email marketing offer new avenues for reaching target customers.
- Data-driven marketing insights: Utilizing customer data can personalize marketing messages and optimize campaigns.
Threats:
- Increased competition: New restaurants and bars are entering the market, creating more competition for customers.
- Economic downturn: A potential economic recession could impact consumer spending and reduce demand for dining out.
- Changing consumer preferences: Shifting tastes and trends could require adapting the tavern's menu and offerings.
Further analysis reveals key insights:
- Customer behavior: Chirpin' Tavern's target market consists of both loyal regulars and occasional visitors. Understanding their motivations, preferences, and spending habits is crucial.
- Competitive landscape: Analyzing competitors' marketing strategies, pricing, and offerings will inform Chirpin' Tavern's positioning and differentiation.
- Product lifecycle: The tavern's product lifecycle is mature, requiring innovative strategies to attract new customers and retain existing ones.
4. Recommendations
1. Redefine the Coupon Program:
- Transition to targeted promotions: Offer limited-time promotions for specific menu items or customer segments (e.g., happy hour specials for young professionals).
- Implement loyalty programs: Reward frequent customers with points, discounts, or exclusive offers, fostering brand loyalty and repeat business.
- Utilize digital coupons: Offer digital coupons through email, social media, and mobile apps, allowing for targeted distribution and tracking.
2. Enhance Social Media Presence:
- Develop a comprehensive social media strategy: Create engaging content, run contests and giveaways, and interact with followers to build a strong online community.
- Utilize social media advertising: Target specific demographics and interests with paid advertising campaigns on platforms like Facebook and Instagram.
- Leverage user-generated content: Encourage customers to share their experiences through photos and reviews, building authenticity and social proof.
3. Implement Targeted Advertising:
- Utilize online advertising platforms: Google Ads, Facebook Ads, and other platforms allow for precise targeting based on demographics, interests, and location.
- Develop compelling ad creatives: Create eye-catching visuals and compelling copy that highlight the tavern's unique offerings and value proposition.
- Track campaign performance: Monitor ad metrics and adjust strategies based on data to optimize ROI and maximize impact.
4. Embrace Data-Driven CRM:
- Implement a CRM system: Track customer data, purchase history, and preferences to personalize communications and offers.
- Utilize data insights for segmentation: Divide customers into groups based on demographics, spending habits, and engagement levels to tailor marketing messages.
- Automate marketing workflows: Leverage CRM features to automate email campaigns, birthday greetings, and other personalized communications.
5. Basis of Recommendations
These recommendations are based on:
- Core competencies: Chirpin' Tavern's strengths in brand recognition, customer loyalty, and experienced management are leveraged to build upon existing assets.
- External customers: The recommendations cater to the needs and preferences of the target market, focusing on value, convenience, and personalized experiences.
- Internal clients: The recommendations are aligned with John and Mary's goals of increasing profitability and sustainability.
- Competitors: The recommendations consider the competitive landscape and aim to differentiate Chirpin' Tavern through unique offerings and marketing strategies.
- Attractiveness: The recommendations are expected to increase revenue, improve customer retention, and enhance brand equity, ultimately contributing to long-term profitability.
6. Conclusion
By implementing these recommendations, Chirpin' Tavern can move away from a coupon-driven model towards a more sustainable and profitable marketing strategy. This approach will build brand loyalty, attract new customers, and leverage data-driven insights for optimal marketing effectiveness.
7. Discussion
Alternatives:
- Continuing the current coupon strategy: This option would likely lead to continued profit erosion and potential brand damage.
- Focusing solely on digital marketing: While digital channels are important, a holistic approach that integrates online and offline strategies is more effective.
- Expanding the physical location: This option requires significant investment and may not be feasible without a clear growth strategy.
Risks:
- Customer resistance to change: Some customers may be resistant to the shift away from coupons.
- Competition: New competitors may enter the market, requiring ongoing adaptation and innovation.
- Technological advancements: Rapid changes in digital marketing require constant monitoring and adaptation.
Key Assumptions:
- Customer willingness to engage with digital channels: The success of the strategy relies on customers' willingness to interact with social media, online advertising, and email marketing.
- Availability of data and analytics tools: Access to reliable data and analytics tools is crucial for effective implementation and optimization.
- John and Mary's commitment to the new strategy: Successful implementation requires their active involvement and commitment to the long-term vision.
8. Next Steps
- Develop a detailed marketing plan: Outline specific objectives, timelines, and budget allocations for each recommendation.
- Implement a CRM system: Choose a suitable CRM platform and train staff on its use.
- Develop social media content and advertising campaigns: Create engaging content and target specific demographics with paid advertising.
- Track performance and adjust strategies: Regularly monitor key metrics and make adjustments to optimize campaign effectiveness.
By taking these steps, Chirpin' Tavern can successfully transition to a data-driven, customer-centric marketing strategy that drives sustainable growth and profitability.
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Case Description
To augment the growth of a restaurant's business, its owner began selling coupons on a New York City deals website. However, the owner wondered whether selling these steeply discounted coupons was a sound business decision. In this case, students are presented with a spreadsheet with 34 months of sales data and are asked to develop a regression model of sales as a function of key variables. This case is accompanied by a Solutions note that details the steps in developing a model of sales as a function of seasonality, a time trend, and current and past promotional activity.
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