Research Report: Initiative
for Krusty Krab in Austin, Texas
Elysia Perkins, Hunter Cross, Caleb Calderon,
Ally Ener & McKenzie Sells
Situation Analysis:
The
Krusty Krab Restaurant’s intended environment is Central Texas in the downtown
Austin area--specifically on South Congress Street. We have to get appropriate
licensing from Nickelodeon to use the Spongebob Squarepants patent, persuade a
large enough investment from Nickelodeon to build the restaurant, garner enough
media exposure to entice enough customers, and make the Krusty Krab a
restaurant to which people in Austin and abroad would actually go (ideally more
than once).
Main Stakeholders:
Stakeholders and publics include: the
media, Spongebob fans, Nickelodeon, our chosen contracting company (still under
evaluation), the City of Austin, other Austin restaurants, Austin families, UT
students, food suppliers, children and families in Texas and abroad, the media,
and the community of Austin/its population. Of these stakeholders, we feel the
largest amount of time and resources should be spent catering to Nickelodeon,
the media, children and families, and the population of Austin.
Addressing Nickelodeon:
Pitch and Benefits of Restaurant: The most
formidable stakeholder for the Krusty Krab Restaurant is Nickelodeon. In order
for this restaurant to even exist, Nickelodeon must become an investor and
award the respective permissions to the Krusty Krab. Our pitch to Nickelodeon
should include the benefits of this business residing in Austin. Austin’s large
population and high net migration make it an advantageous location for the
Krusty Krab. In the Austin metro area alone, the population surpassed 2 million
people in 2015. Austin was ranked first among 50 largest U.S. metros based on
net migration. The population of the city itself is 947,890. In addition to the
sheer amount of people living and entering Austin daily, Austin’s atmosphere as
a fun and pioneering city as well as its location in Central Texas makes it a
prime spot for the restaurant.
Utilizing Media and Reaching Families:
Commercial Request: We
suggest getting the word out via Nickelodeon’s social media and putting
commercials on Nickelodeon. A commercial on this cable channel would reach
millions of people, as Nickelodeon is remains the third most-watched cable
channel, just behind Fox and MSNBC. Additionally, Spongebob Squarepants has
reigned in the top 5 most-watched television shows for years. The most recent
episode, which aired on April 13th, got 1.23 million views. If a commercial
were to be aired on Nickelodeon, especially during episodes of Spongebob, the
commercial would receive an extremely wide audience. In addition to using
commercials, we suggest putting up flyers in and around Austin, and getting a
billboard ad off of a few major highways leading into Austin. The content of
all programs, ads, etc. should include promotional content for a Krusty Krab in
Austin, Texas. The commercial would detail the same information, that it’s
coming soon, family friendly, etc.
Other Stakeholders/Potential Needs:
Contractors: As far as our contractor
goes, a few possible Austin-area contractors we are considering include
Franklin Alan, Wurzel Builders, G Creek Construction, and Pinnacle
Construction. These contractors have built high-quality restaurants in the
past, so choosing any of them would likely be a good option.
Other Austin Restaurants: Other
Austin restaurants may find that the Krusty Krab poses a threat to small
businesses by creating a large amount of competition. Within Austin, there are
thousands of businesses, and the addition of an attraction such as the Krusty
Krab surely will not negatively affect the small business consumer
atmosphere of Austin.
UT Students: Most young adults in
college right now experienced the peak of Spongebob Squarepants popularity on
Nickelodeon. Those who like Spongebob, and those who may not even like
Spongebob at all, will surely see the media coverage and want to go to the
restaurant considering how close and accessible it will be to them. We could
also advertise to these students directly on campus through the use of posters.
Sources
Autsinchamber.com
United
States Census
Index.co/company/nickelodeontv/investments
tvbythenumbers.zap2it.com/daily-ratings/saturday/cable-ratings-june-17-2017/
Statista.com
Adage.com - Nickelodeon
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