Business Development

...

(759 Store, 2015)

Finally is reducing costs, 759 company understand that it is important to control costs, so for the retail shop they try the best to select those sites with greater floor area within the shopping mall and shop unit of the living zones where lower rent per sq ft could well offset the effect of bigger area despite the pedestrian flow may be lower. (AASTOCKS.com Limited, 2015) And for the restaurant, for instant the 759 wonton noodle shop, is not opened in a busy area full of tourists, but be close to the neighborhood, so that not only reduce the cost of rent, also closer to local residents, the location near MTR stations and bus stops. (759 Store, 2015)

Kotler (1994) identifies three levels or components of a product: core, tangible and augmented. “The core product is the fulfillment of the consumer’s primary need. This will act as the main driver for the product purchase. ……The tangible product is the physical benefits offered. ……The augmented products are elements that differentiate them from competitors through the inclusion of perceived added value.” (Hassanien, Dale and Clarke. 1956)

The core product of 759 Tea Restaurant is the food, 759 Tea Restaurant just an ordinary restaurant, but they provides more outstanding food than usual restaurant. Not only with foreign imported materials, but also introduce some new dishes are generally not available in usual tea restaurant. For example the shrimp toast, spicy chicken pot and boiled beef, these are the restaurants to attract customers to offer.

The tangible product of 759 Tea Restaurant, in terms of the restaurant staff, bar chef has over 40 years of experience, bringing quality assurance for the restaurant’s drinks. The other staff also has more than 7 year experience in the restaurant industry. (759 Store, 2015)

Secondly, the restaurant design with bright colors, the restaurant looks very spacious and bright, tables and chairs layout are also very neat.

Finally, in terms of brand name, 759 this brand for the general public in Hong Kong is very familiar. For its Group restaurant the people will be attracted away, the tea restaurant’s target customer is not only nearby residents, as well as the 759 fans.

The augmented product of 759 Tea Restaurant include the service speed, the restaurant service is undoubtedly a fast pace, but the 759 Tea Restaurant’s employees emphasis on speed and quality of work, they hope can bring every guest the best experience.

About the Brand image, 759 company is also a positive brand, they has been committed to corporate social responsibility. Not only the establishment of a scholarship in universities and provide internship opportunities for local college students to nurture the young peoples, also coordinate with the charitable organizations to provide food to the vulnerable Groups, as well as help raise funds, such as in-store donation boxes placed Orbis, to raise funds for ORBIS. These have helped 759 company to establish a positive business impact. (759 Annual Report, 2014)

This essay is trying to show the business development and profitability and success are essence. Undeniably, since the 759 companies are use of proper business development model, to make it within five years has developed a large local enterprise, and become more diversified development nowadays.

Reference

Hassanien, A., Dale, C., Clarke, A. (1956), Hospitality business development, Burlington: Claremount, W.A

Davis, B., Lockwood, A., Pantelidis, I. & Alcott, P. (2008), Food and Beverage Management (4th ED). Oxford: Elsevier Butterworth Heinemann. Ch4.

Hassanien,a., Dake,C. & Clarke,A. (2010), Hospitality Business Development, Oxford: Elsevier.

Susan C, A.(2010) “Start-Up Success: Collection Development”, Library Journal, Vol.135(8), pp.34-36

AASTOCKS.com limited (2015) CEC INT’L HOLD 00759.HK [Online] Available at: http://www.aastocks.com/en/ltp/rtquote.aspx?symbol=00759 [Accessed 24 October 2015]

CEC (2015) History and business development [Online] Available at:

http://www.0759.com/cecweb/HistoryBusDevp.aspx?lang=en[Accessed 12 November 2015]

Evans,J. (2001) Webvan closes online grocer [Online] Available at: http://www.chicagobusiness.com/article/20010709/NEWS/20002787/webvan-closes-online-grocer [Accessed 24 November 2015]

Mind Tools (2015) Developing Your Strategy Finding Your Path to Success [Online] Available at:

https://www.mindtools.com/pages/article/developing-strategy.htm

[Accessed 12 November 2015]

Maverick, J.B. (2015) what is more important for a business, profitability or growth? [Online] Available at:

http://www.investopedia.com/ask/answers/020415/what-more-important-business-profitability-or-growth.asp [Accessed 13 November 2015]

Tech2ipo (2015) The largest 72 business failures [Online] Available at: http://tech2ipo.com/63284 [Accessed 23 November 2015]

759 Store (2015) About Us [Online] Available at:

http://www.759store.com/aboutus.php?lang=eng [Accessed 24 October 2015]

759 Annual Report (2014) [Online] Available at:

http://www.hkexnews.hk/listedco/listconews/sehk/2014/0822/LTN20140822163_C.pdf [Accessed 13 November 2015]

...