T.G.I. Friday's which is often referred to as "Friday's" is an American restaurant chain which focuses on casual dining. To date, they have more than 500 restaurants worldwide. The company forms part of the Carlson Companies.
Its name is derived from the expression "TGIF" ("thank goodness [or "thank god"] it's Friday"). Its trademark appearance is red-striped canopies, brass railings, Tiffany lamps, and antique décors. The following are the marketing strategies used by TGIF :
Smaller Portions
TGI Friday's smaller portions promo at a much cheaper price in restaurants started in 2007. Now, they currently hold the title 'Leadership Role in Portion Control' as they introduced three new entrees and mini desserts. "Right Portion, Right Price" menu currently numbers eleven entrees which are priced from $5.99 to $9.99.
Guests also have the option to partake of smaller portions of desserts with Mini Dessert Shots, a selection of two shots from the following flavors: Rocky Road, Chocolate Raspberry, Peanut Butter Cup, Chocolate Chip Mint and Orange Cream. TGI Friday's intends to make 'Right Portion, Right Price' a permanent addition to the menu and the entree choices are growing.
A year after it introduced smaller portions to its menu, the less food strategy generates more customers and bigger profits for TGI Friday's. In 2007, the casual dining sector experienced difficulties attracting customers.
The entire casual-dining industry pegged the decrease of guests to around 2.8 percent but TGI Friday's number of customers grew by 1.4 percent compared to 2006 figures of same period. Knapp Track, the casual dining index, revealed that TGI Friday's have outdone the competition in casual-dining industry.
Employee Empowerment
In the service industry, suggestions for improvements in quality in hospitality operations always zero-in on the use of empowerment as a strategy for the management of employees.
Analysis should be made to determine if the employer initiatives intended to empower employees are initiatives which are merely labeled as empowerment or are actually empowering. To determine this, empowerment is observable in the way an employee develops a sense of personal efficacy.
TGI Fridays is an organization that offers service to customers that is characterized as "mass customization". The successful service encounter in TGI Friday's restaurant enables the employees to provide customers with advice and counseling in their choices of meals and providing a personalized service performance.
To attain this, employees are managed through a group of approaches which are give "empowerment through involvement". This means the development of personal efficacy and customer engagement in service performance, but to a limited degree focused on the carrying out of their roles.
Marketing Efforts
TGI Friday's national marketing efforts were able to greatly increase sales and penetrate new markets. Continued spot radio in select markets, outdoor advertisement, print placement and national and local promotions -- T.G.I. Friday's restaurants gained coast-to-coast exposure through network television. T.G.I. Friday's restaurants run national television advertising.
Applicable Business Strategies for TGIF
TGI Friday's being a pioneer in the casual-dining industry, it is fortunate to establish a large base of clientele who are loyal patrons to the company. It is important therefore to develop this brand name, trademark and strong client base. It is recommended that TGI Friday's business strategies should include:
a). continuously capitalizing on the brand-name recognition and goodwill associated with T.G.I. Friday's restaurants;
b). expanding the Company's restaurant operations through the development of additional T.G.I. Friday's restaurants in its existing development territories and through the development of new restaurant concepts and the acquisition of restaurants operating under other restaurant concepts; and
c) increasing its profitability by continuing to enhance the dining experience of its guests and improving operating efficiency. Industry leadership, innovation and standard of excellence define T.G.I. Friday's experience. The legacy of a fun experience and fantastic food and drink, T.G.I. Friday's restaurants provide an environment where families and individuals experience fun-filled, casual dining experience.
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