Did you hear the word Coopetition? If not, you will hear it soon. It is very agitated in marketing circles.
So, in case you do not know the term, start with the definition of coopetition. If we look at Wikipedia, we have the following definition:
"Co-operation or co-operation is a description of a co-operation competition designed to show corporations when companies collaborate on shares where they do not believe their competitive preference and where they believe they can share common costs, such as Peugeot and Toyota, a new urban car in Europe in 2005. In this case, companies save money at shared costs. In other jobs, companies need to define very clearly, where they work together and where they compete. "
Long-term business success is not only successful in competing with other restaurants but also by working with them.
Co-operation is part of competition and cooperation. When restaurants work together, they can create a much larger and more valuable market than ever they can work alone. Restaurants can then compete with each other to determine who will benefit more from the growth in the number of potential customers.
A good example of co-operation between restaurants is when there is a city or suburb where several restaurants are concentrated in a relatively small area. If you look at this area from a traditional business perspective, opening an institution offering restaurant services looks like a bad idea.
Why should someone open a restaurant at a restaurant where there are restaurants as well?
The reality is that a lot of dining places attract customers who visit the area without a separate restaurant and can make a decision when they arrive
The contest starts here
Usually the best environment, the most popular menu or the highest quality / price that meets the highest standard, usually brings most customers …
There are several typical examples of coopetition such as:
o Food Stores: All restaurants are located in places such as shopping malls – tables, trays, cleaning services, etc. Sharing. Customers were created on the same site (co-operation) and competed for their business (competition).
o Advertising: Sometimes Restaurants work together to compile a food magazine or similar publication that both contribute (both in money and content) to the publication.
o Special Food Events: Sometimes more restaurants organize food events, where they all contribute food items to food stalls. With the involvement of many restaurants – and good marketing – many people take part in these events (usually there is music, often there are many other activities).
As you see these few opportunities for co-operation. However, there are other interesting ideas for you. Here are some things to think about:
o Cross-promotion with restaurants offering different meals like yours. Often the menu does not compete directly with other restaurants. For example, if a person is in a mood of Italian food, for example, he will not go to an Indian restaurant to have dinner or vice versa.
You may want to combine the restaurants in your area that have a different style of kitchens and create a coupon that can be sent to regular restaurants of participating restaurants. Or maybe you can create a discount card that customers can use in restaurants in your area. This will attract more customers to your neighborhood.
o Encouragement with restaurants offering the same kind of food as yours, but not close to your place.
People usually prefer to go to restaurants near their home or workplace. If you have a French restaurant nearby and have French cuisine you will not travel far to another French restaurant … unless the other French restaurant is so much better that it is worth the trip – the tournament starts.
So, what can you promote it? Well, if you have an ethnic restaurant, you can create a newsletter that shares printing and perhaps distribution costs with similar restaurants and distributes it to the customers of the affected restaurants. The newsletter should contain the food, culture, geography, etc. of the restaurant's home country. Solo articles.
But what if your restaurant is an American place? Give specific information about your areas. It may still be trivial for individual states, some local recipes, etc.
o Join forces to negotiate sheets, food and drink products, menu menus, etc. Order. Imagine talking to the owners of nearby restaurants and using the same distributors for general things such as sheets, candles, dishwasher maintenance and supplies, garbage and / or degreasing, exhaust filters, printed menus, and so on. everyone will benefit.
This is just a few examples of co-operation. Merger with competitors can be a winning bid. Just brainstorm and think in areas where both can benefit.
Can you think about co-operation in several areas? I would like to know. Please visit my website and let me know.
Source by sbobet