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Taking the example of a famous restaurant "PAUL", discuss the following in 300 words each: 1
Taking the example of a famous restaurant "PAUL", discuss the following in 300 words each:
1. Partnership - How the restaurant can partner with gyms to increase its sales
2. Sponsorship - How the restaurant can sponsor events such as sports events, trail, hiking to increase its market share
3. Major Events - How the restaurant can propose special tariffs to companies (such as end of year, team building) to promote its brand and gain more revenue.
Expert Solution
1. Partnership - Paul restaurant can tie up with gyms in nearby localites for distribution of discount coupons of the restaurant to the gym's patrons on availing a six-month or annual membership. Further, since the gym members might be more health conscious than other restaurant patrons, such discounts can be provided on health foods such as juices, smoothies, salads, subs etc.
2) Sponsorship - Paul restaurant can sponsor major events taking place in the city such as sports events, hiking, trails, music events etc. Sponsoring such events will increase Paul's visibility as more people will come to know about the restaurant and their offerings. It will also help generate brand recall value for Paul's restaurant. The restaurant can also tie up with event organizers to be the food supplier or drinks sponsor to such events.
3) Major events - Paul's restaurant can provide exclusive offers on major annual events such as corporate dinners or lunches, New Year or Christmas celebrations etc. It can directly approach major organizations having operations in the city through their HR executives and offer them special offers for team events.
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