The Mule Cocktail Bar was voted best new business in 2020. This gives the company an accreditation that gives potential customers a reason to trust the company and the product/service. It doesn’t exactly say that the Mule Cocktail Bar is superior to other bars in the area. However customers can safely assume that they will have an enjoyable experience because of the award. It also gains new first time customers who want to see why the Mule Cocktail Bar won the award.

Events

The Mule Cocktail Bar hosts several events each month. These include live music, art shows, and themed nights such as “Girls Night Out”. New customers will come to the bar out of interest in the events. But existing customers will still benefit, the events provide more value to their experience. The Events will also stir more advertising for the bar. People connected to the events will promote the events, in doing so they will also be promoting the location, the Mule Cocktail Bar.

Lack of Competition

The Mule Cocktail Bar is one of the only bars in the Ellensburg area that is tailored for a higher end/fancy atmosphere. With the Mule Cocktail Bar uniquely positioned in the market, they are able to safely rely on keeping a large portion of the demand for high end drinking.

Risk scaring off competition

The Mule Cocktail Bar is perfect for those looking for a fancier environment to enjoy food and alcohol. Being in a college town, many of the potential customers will be college students. It is important to understand that being a higher end establishment, many college students may be uninterested in going there.

Customers may assume they only serve mules

Decline in drinking

As youth become more health conscious, drinking has slowed in youth. It is important to grow the restaurant aspect of the business. This is a slow trend so there will be time to adjust for it

Restaurant/bar industry is hard

30% failure rate

The restaurant and bar industry is very difficult to succeed in.

Disease/Covid 19

Sales were down 240 billion from estimates in 20204

Although the effects of Covid 19 are diminishing, it is important to be prepared for a similar event. Outdoor options need to be prepared, and services/products that customers can enjoy in their own home must be prepared

Mule deer theme

The Ellensburg area is one of the most popular places for deer hunting in Washington state. Hunting and the outdoors is a popular theme for the area. The restaurant does not need to promote hunting, we do not want to put off people who dislike hunting. However we can simply create a theme around the animal.

Tailor more towards college students (20.4% increase in enrollment 2019-2020)

The Mule Cocktail bar is located in a growing college town. It is important to create an atmosphere that encourages college students to attend.

 

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V. Recommendations (40 points). a. This section should include your recommendations to overcome weaknesses, to meet any threats, and/or take advantage of some opportunities that you identified through your SWOT and Marketing Strategy analyses. b. Very Important: your recommendations need to be related to your SWOT and Marketing Mix analyses: • For example, let's say that you recommend a US food company to sell its durum wheat products in the European Union (EU); nevertheless, you never mention about the opportunity (i.e., strong EU consumer demand/preference for durum wheat products) in your SWOT analysis, which would support this recommendation. Well, in this case, your recommendation is NOT supported/has NO value for the company; consequently, you will not receive points. Also, keep the business mission statement on mind, when you develop your strategic recommendations. V. Recommendations (40 points). a. This section should include your recommendations to overcome weaknesses, to meet any threats, and/or take advantage of some opportunities that you identified through your SWOT and Marketing Strategy analyses. b. Very Important: your recommendations need to be related to your SWOT and Marketing Mix analyses: • For example, let's say that you recommend a US food company to sell its durum wheat products in the European Union (EU); nevertheless, you never mention about the opportunity (i.e., strong EU consumer demand/preference for durum wheat products) in your SWOT analysis, which would support this recommendation. Well, in this case, your recommendation is NOT supported/has NO value for the company; consequently, you will not receive points. Also, keep the business mission statement on mind, when you develop your strategic recommendations.

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