Marketing And Advertising: Managing Brand Equity

With the increase in interest in restaurant franchises and the increasing number of restaurant franchises, marketing has assumed an important role. The most basic concept underlying marketing is that of human needs and wants, and food is an essential component for fulfi lling the basic requirements of life. Consumer needs and wants are fulfi lled through market offerings of foods in which restaurant franchises play a major role. Marketing for restaurants is entirely different from marketing other products or services. Restaurants provide a unique combination of tangible and intangible aspects, both of which have to be marketed simultaneously. It is relatively easy to market products but extremely diffi cult to market services. In addition to creatively providing products and services, restaurant marketers have to build profi table customer relationships. Thus customer loyalty and retention become an integral part of marketing. As mentioned in earlier chapters the characteristics of services marketing include intangibility, inseparability, Buying a franchise gives you the right to associate with the company’s name or brand. The more widely recognized the name, the more likely it is to draw in customers.