Intoxication Stimulant Use In Night Economy â€Myassignmenthelp.Com

Question: Discuss About The Intoxication Stimulant Use In Night Economy? Answer: Introduction: Considering the popularity of bars and night clubs in Australia, Nocturnal Night Club will be set up at Melbourne, Australia, offering music, dance and other forms of entertainment every night, from 10 PM onwards. As an entertainment venue, it will also serve food and alcoholic beverages. This report intends to provide an insight into the immediate market condition in which the company intends to operate, as well as the future plans of the company regarding its staff requirement and budget process. Market Segment: As far as the market segment of the nightclub is concerned, it intends to attract the attention of the youngsters, who love to stay outside and party all night (Aghdaie et al. 2013). Since there are too many night clubs in Australia, targeting the young Australian population, Nocturnal intends to attract the attention of the students (both male and female) studying in the Australian colleges of Melbourne. The market segment comprises of male and female students of Australia (both native and foreign) belonging to the age group of 18 to 22 years. Figure 1: Market Segment of Nocturnal Night Club Source: (Created by the Author ) Market Analysis: Although the market of night club industry has good prospect in future, declining alcohol consumption as well as decline in gambling expenditure have constrained the growth of the night clubs in Australia. Over the next 5 years, the night club industry of Australia is expected to witness a 1.2% growth (Pennay et al. 2015). Despite the growing elderly population in Australia, the demand for night clubs will continue to soar, as it is famous for offering educational opportunities to students across the globe. New, innovative ideas such as cocktail lounges and adjoining wine bars, are expected to boost the growth of the industry. Business Plan: Since already there are too many night clubs in Melbourne, Nocturnal will attain competitive edge by attaining product and service differentiation. First of all, keeping in consideration, the growing health consciousness amongst the consumers, the bar will offer healthy upscale products such as craft beer and organic food, to its consumers. Next, it will introduce a Free Fun Friday scheme, whereby it will offer unlimited food and beverage products to the first 5 visitors of the bar. The club will also organize plenty of events throughout the year to boost the foot traffic at the bar. Mission Statement: The Mission Statement of Nocturnal Night Club is to create an ambience and offer quality products that will enhance customer satisfaction, respond to consumer entertainment needs. Food and Beverage Menu: Bacon BBQ Slider All Pastor Chicken All American Slider Grilled Spicy Shrimp Steak and Egg Slider Carne Asada Buffalo Chicken Slider Filet Magnon Slider Green Initiative: Sustainability is an important aspect of the companys vision statement. The night club will use recyclable glass bottles only, serve organic wine to its consumers, and will organize a Zero Waste Bar, whereby any waste food will be served to the impoverished and less privileged Australians. Further, a solar rooftop panel and a waterless urinal will also be created to reinforce its sustainable approach (Head et al. 2013). Marketing Concepts in Implementing Business Plan: Product: Nocturnal will offer a variety of beer, wine and different liquors and mixed drinks and snacks to the college age men and women, residing in Australia. Price: The night club will follow a low price strategy at the beginning, offering lucrative discounts to consumers, coming with more than 2 persons, as it will help in increasing the foot traffic of the place. Place: Promotion of service will primarily be done through social media channels. Besides, flyers and banners will also be used for promotion near the Melbourne colleges and high schools. Promotion: Since demographically, the target audience of Nocturnal comprises of young, vibrant college going students, the product and service will be promoted via social media channels, preferably Facebook, Instagram and Twitter (Grinblatt and Titman 2016). Level of Service: Service excellence will be a priority for Nocturnal. Each of the visitors will be treated with utmost duty and care, and there will be 5 supervisors to ensure consumer safety and comfort. Staff and Budget: List of People Needed to be Hired: 10 Bartenders 5 Security Staffs 4 Waiters 2 Buzzers 2 DJ 3 cleaning Staffs 2 Managers 5 Supervisors Staff Skills Needed in Business: Teamwork Assertive communication skills Time management Integrity Customer service Persuasion Team work Numeracy Estimated Budget : Product Acquisition Price Registration Fee $750 Marketing promotion expense $350 Stationary Expenses $500 Operational Cost $650 Cost of furniture such as Telephone, TVs, Sound System, tables and chairs et a $4000 Miscellaneous $2000 Total $8250 Year 1 Year 2 Year 3 Current Interest Rate 10% 10% 10% Long-term interest rate 10% 10% 10% Tax rate 0% 30% 30% Others 0 0 0 In order to ensure overall quality, the night club will be supervised daily and a report will be made on each day activity. The quality of food and beverages will be ensured, and a customer survey will be conducted at periodic intervals. Floor Plan: In order to reduce cross- contamination by separation, separate entry and exits will be created. The central kitchen area will be kept totally separate from the dirty areas where people will dance. At the same time, the clean functions will be kept separate from dirty functions - (e.g. a corridor separates the refuse area and swill area from the kitchen area). Reference List: Aghdaie, M.H., Zolfani, S.H. and Zavadskas, E.K., 2013. Market segment evaluation and selection based on application of fuzzy AHP and COPRAS-G methods.Journal of Business Economics and Management,14(1), pp.213-233. Grinblatt, M. and Titman, S., 2016.Financial markets corporate strategy. Head, L.M., Farbotko, C., Gibson, C.R., Gill, N.J. and Waitt, G.R., 2013. Environmental issues and household sustainability in Australia. Pennay, A., Miller, P., Busija, L., Jenkinson, R., Droste, N., Quinn, B., Jones, S.C. and Lubman, D.I., 2015. Wide?awake drunkenness? Investigating the association between alcohol intoxication and stimulant use in the night?time economy.Addiction,110(2), pp.356-365.