DRIVING PROFITABILITY AT THE HUNGRY DRAGON

Sarah Hanson, Yamen Elsaid, Christopher Lawson, Ivan Montero, Colin M Provine
Muma Case Review  •  Volume 5  •  2020  •  pp. 001-026
When long-time Floridian Piers Ikerd was looking to transition from the corporate world in the summer of 2018, he sought more independence and ideally the opportunity to take over and transform an existing business. His eye fell on a struggling bar, Aces N Eights, that he was planning to transform into a well-oiled business. His work on an initial business plan convinced him that the key to improved profitability would ultimately center on getting more customers in the door who stayed a while, had a good time, and would come back again soon.

Could Piers and his team transform their new bar, rebranded into The Hungry Dragon Tavern, into a more popular and profitable establishment? What would be the best approach to take the establishment to the next level beyond initial changes made - tweaks to the food and beverage menu, remodeling the interior and changing the bar’s concept?

Most importantly, how could Piers leverage marketing knowledge to assess the local market? Sticking to traditional marketing? Increasing social media presence and brand awareness? Utilizing market technology and tools to creatively capture potential customers? The new owner hoped to make the right marketing-related moves to breathe fire and profit into the Hungry Dragon.
Case review, Marketing, Strategy, Bar, Restaurant, Small business
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