Marketing_part_3 (convert-video-online.

com) (2)
0:00
Yeah, I've been with Hiscox now for about two years.

0:02
Prior to that I spent most of my career at Procter and Gamble in various sales and marketing role.

0:07
And then in latterly Ernest and Julio Gallo Winery which is an American based wine company is the
Marketing Director for Europe for them looking at their portfolio strategy, country strategy and overall
profitability.

0:19
And I joined Hiscox in October 2006 really with the remit in sales and marketing to bring more
discipline if you like to our consumer marketing function and if you like more strategic focus to our
overall sales and marketing strategy, capability and capacity.

0:36
Well, Hiscox's target market is SME, commercial businesses who sell their brains in time rather than
use their hands to make and build things.

0:46
And secondarily is high net worth in insurance for households.

0:50
So that's the top 10% of UK households, about 2 million people in the UK and SME is nought to 50
employees as their brains based businesses.

0:59
So that'll be anything from solicitors to management consultants, IT tech, you know media
professionals.

1:06
And then really, the core target of direct within that is the micro end of SME, which is nought to 9
employees in technology, media and telecommunications.

1:15
And then the broader target for broker is there's medium to larger sized businesses.

1:20
We do have a specialist product line in technology media that goes up right to the very biggest
businesses like Omnicom, Procter and Gamble, Disney.

1:28
But that's in a very, very specialist product line.
1:30
There's, there's a couple of challenges that relates to marketing our brand on his and insurance in
general at a category level.

1:37
The two obvious challenges are, one, it's a very low interest category.

1:40
I it's pretty dull.

1:42
So getting consumers engaged in any product or services that relates to insurance or financial services
is inherently difficult.

1:49
And secondly, there's an enormous amount of cynicism now more than ever and a lack of trust about
financial institutions.

1:55
So it's pretty boring.

1:57
Nobody wants to engage and whatever you tell them, they don't believe.

2:00
So that's an inherent challenge of the industry and his got specifically as a niche insurer, it's really
about what are the resources you can afford to build brand and drive awareness with a subscale
proposition if you like.

2:14
And that really was a strategic choice.

2:16
So we're kind of chose to invest ahead of our scale, to invest in building awareness and differentiating
the brand to build a direct business and really with the view that that will pay out in the longer term
over a 5/10/20 year.

2:29
And as our scale grows in direct and our business scale, we will get a return on that investment.

2:33
But it was very much a choice to build awareness rapidly with a view that we accelerate growth and
we'd reinvest some you know exceptional profits from our global markets business to do that.

2:44
I think insurance companies partly struggle with being consumer centric because they are inherently
led by financial trained people.

2:54
So if you look at any insurance in particular financial services business more broadly, the board and
certainly the general management structure tends to be filled with finance based people unless brand
and marketing at the core of it.

3:08
And I think that if you like culture and direction and skill set reflects in how things are approached
which is very much about purely about driving return on equity on financial metrics and not really how
do we understand the consumer and build products and services better meet those needs in a great
example is in banks, you know bank is inherently about trust but then they tie the pen down onto the
the the counter because they don't want them to be pinched which is a bit counter intuitive.

3:35
It's more of a a finance man's approach than the marketeers perhaps.

3:39
I'd say our unique selling point versus our competition is a couple of things.

3:43
Number one, we are a specialist and we rigorously focus on doing few things very well.

3:49
The way I'd I'd bring that to life is certainly versus a Norwich Union.

3:53
If you imagine a Norwich Union high net worth broker product is about £30 million revenue in a multi
billion pound business.

4:01
Their multi billion pound business is never have the board and senior management focus to worry
about the £30 million revenue.

4:09
Their operational structure, their strategies, infrastructure, business priorities will all be centred around
the composite mass multi billion pound organization.

4:17
And so their Ethos, culture, service proposition will never really do that £30 million business very well
for us.

4:24
The £30 million business, if you like, that target audience is all we do.

4:28
So everything from the chief executive down to the person who's managing the claims or the person
who's taking the call is entirely focused around understanding the needs of that audience and
delivering A proposition that really reflects those needs in an exceptional way.

4:43
So because of that specialism, we believe we can do it better than anybody else.

4:48
We measure marketing in two ways.

4:49
The first is what we call the ABCD model and that's about how are we building brand.

4:55
The, the objective really is build brand and acquire customers cost effectively.

4:59
So on building brand, the ABCD model is awareness, brand affinity, consideration to purchase and
then decision to purchase.

5:07
And we track that ongoing quantitatively through the year to say how many people are spontaneously
or promptedly aware of our brand, what is their affinity, IE, do they like it, do they associate with it, do
they consider it when they're considering their insurance and ultimately do they buy it.

5:22
So we tracked that quantitatively.

5:24
We studied that versus all our competitive set and we're saying are those metrics growing in a way
that we would expect relative to that return.

5:31
The second thing is, are we acquiring customers cost effectively?

5:34
So if you look at all of our marketing investment and you look at all the customers that come to us,
essentially what's the cost for Sale by marketing tactic and channel and marketing activity.

5:44
And we constantly look at is that acceptable in delivering a return on a case by case basis over the
lifetime of a policy.

5:51
And then secondarily across all of that mix, how do we improve our return on investment by making
sure we invest in areas that are lower cost of acquisition, you know, taking money away from areas
that are inefficient.
6:03
So really both if you like brand level metrics and hard nosed commercial objectives relative to cost per
sale.

6:12
My name is Ben Matthews, I work for Watsonian Squire Limited.

6:14
We are the UK distributor for Royal Enfield Motorcycles and the UK sales and marketing director and
have worked for the company for 11 years.

6:22
Marketing helps the company in in in all sorts of ways.

6:25
We've got a technical product which we need to tell the customer about and tell the the benefits
design cues.

6:32
So there's a lot of information about the product.

6:34
It's a very complicated business.

6:36
There's lots of bikes in the range.

6:38
We also need to inform the customers where our dealers are.

6:41
We have over 50 dealers nationwide and the products that go along with the bikes, accessories, spare
parts, so there's a whole range of of things to to market to the to the potential customer.

6:53
There's not really a competitive environment for Royal Enfield within the motorcycle market because
we're in a very niche market with Royal Enfield.

6:59
It's quite unique.

7:01
Our main competitors are really sort of leisure money.

7:03
So we're we're competing with holidays, new conservatories, new kitchens, it's that type of money.
7:10
So within the the motorcycle it's market itself, we're in a niche and aren't necessarily competing with
another another brand in the market.

7:19
So we need to sort of direct our marketing to to the leisure money.

7:23
The sort of things that affect the decision making process of our customer are price.

7:27
Naturally, because we're competing with the leisure products like conservatories, holidays, new
kitchens, people do need to justify the money that they're spending on it, because at the end of the
day it really is a sort of treat for themselves.

7:42
It's a toy that they can use at the weekends, It's for for riding around the nice country lanes on a
Sunday afternoon.

7:48
It's not necessarily a necessity.

7:50
So there's some justification to themselves that they're doing the right thing and money is a big factor
in that.

7:55
There's also the reassurance that they're buying the right bike for themselves.

7:59
They've often had a break from motorcycling for maybe 1020 or 30 years and some reassurance from
the dealer that they're buying the right product so they can they know it's got a good backup spare
parts accessories and everything are available for them and obviously the brand name it's got plays a
big part in that.

8:15
We have two types of customers the the range is quite clearly split down the middle.

8:19
We have a a 1950s design machine with a right foot gear change, 4 speed box, traditional British
motorcycle and that motorcycle appeals to people that that remember those bikes from that era, they
can ride a machine with right foot gear change.

8:35
You know they're used to some sort of customer involvement because it's still really is a 1950s design
machine, 1950s technology, but still built today in 2007.
8:44
And then aside from that we have the Electra which has got a modern engine, 5 speed, left foot, gear
change, disc brake, electronic ignition.

8:52
So you've got the the 1950s look to the machine but with a modern engine, modern controls, modern
switch gear.

9:00
So there there is a bit of a crossover people that wanting a model machine that looks like a classic
bike but the the range is quite split and the customers are quite split.

9:08
So you do need to split the marketing a bit and that depends on which sort of titles in in publications
you can go for the classic motorcycle press who who the customers have already got 1950s machinery
and want something that's going to be a little bit more reliable for them to use on a on an everyday
basis.

9:27
And then when you also need to move a bit more into the mainstream motorcycle press where people
are looking for an alternative to a Japanese sports bike where they're in danger of losing their licence
or just want something that's a little bit different.

9:38
Then they can go out and enjoy the the countryside at a sensible speed and and and sort of
experience true motorcycling.

9:45
Our current marketing strategy is to promote true motorcycling in in its purest form really, And we've
we've got the authentic motorcycle, it's got some heritage to it in the UK and we're really promoting
that as a sort of true motorcycling experience.

10:06
And you can go along and and and come back from a ride on your bike with a grid on your face, not
having to do 100 miles an hour to do that, You know you can.

10:15
It's it's motorcycling, it's purest, It's very difficult to research the the market they're in particularly
because we are competing with products outside the motorcycle world, leisure products holidays
etcetera.

10:30
So it's difficult to to to research our market within the within the motor trade or the motorcycle trade
because we're we're sort of not not in that we're outside the normal frame.

10:43
So we talk to our customers, we talk to dealers and find out what the requirements will be, but very
difficult to research it in the in the motorcycle market, we've taken very steady steps expanding the
Royal Enfield into the mainstream motorcycle market.

10:56
We started in Portland, Royal Enfield's just over nine years ago and we started with a range of two
machines only.

11:02
There were a 350 Classic and a 500 Classic, both had 4 speed gearbox, both had right foot change and
appealed to a very limited market.

11:10
You had to be a customer that understood a traditional British motorcycle.

11:14
You had to be confident that you could service the bike yourself or you're prepared to once a month
knit brand it with a set of Spanish check nuts and bolts.

11:21
It's that type of bike.

11:23
But it appealed to that sort of customer that they wanted to get involved with it.

11:27
If you bought a brand new Japanese machine, nowadays you're not even allowed to touch it between
services with invalidation warranty.

11:33
But we do encourage some customer involvement.

11:37
Now you couldn't sell that, mark that bike into to your everyday commuter market because people
want a convenience motorcycle where they can jump on it, ride it into the middle of London, jump on
it, ride at home and they don't touch it between services.

11:51
That's not where we are.

11:52
We're we're supplying, we're we're providing the whole sort of lifestyle.

11:56
You own a Royal Enfield, you get involved with it, you do some servicing.

11:59
You enjoy the whole experience as a hobby as well as a as a as a motorcycle and form of transport.
12:05
Now with the introduction of the Electra, which has got the new engine, it's got the disc brake, we are
now expanding into the mainstream motorcycle market.

12:13
We're not trying to go head to head with Suzuki or Honda.

12:15
It's still a very sort of niche market.

12:18
You still do need to sort of appreciate the bike and knit round it with a set of spanners.

12:22
It's a 500 single.

12:24
It vibrates a bit, but it's all part of the joy of owning it.

12:27
The next step is some new models coming out next year with fuel injection and unit construction.

12:33
Then we can start start expanding the market even further.

12:36
So it's a steady step and if we didn't do it in steady steps, the product wouldn't get a bad reputation
because people are expecting too much from it.

12:45
But the current customers we've got, it's it's all part of the joy of owning one.

12:49
We have a new product coming into the market next year to comply with new European regulations.

12:54
This is going to be a completely new Enfield, new engine for Royal Enfield.

12:58
It will have fuel injection.

12:59
It will have a unit construction engine which at the moment we have a separate engine and a separate
gearbox.
13:05
This is a a new thing for Royal Enfield to have a combined engine and gearbox.

13:09
This will take a whole new range of marketing activities to move it into into a different market.

13:15
We will no longer have the range as it is now.

13:18
So we won't be marketing the bike towards people that have British machinery.

13:23
We won't have a product to offer them.

13:25
So now over the next two years we'll be looking at changing the way we market, looking at the
publications that we're that we're advertising in changing the style of adverts to suit the new brand.

13:36
It's the next step in in sort of in Royal Enfield and it's quite exciting.

13:41
Over the next few years the marketing's going to have to change quite drastically.

13:44
We have a new model coming in with fuel injection.

13:47
So really this year is the last year of production of the of the 3:50 and 500CC classic engine after 55
year production run.

13:57
So the the bike has been made as it as it is now for 5052 years and that is going to stop this year.

14:05
So we have to look quite, quite heavily at our marketing strategy for the next two, 345 years on how
we introduce this new model into the into the UK market.

14:15
Due to new European regulations, the current 350 and 500CC classic machines will no longer be able
to be imported into Europe from the end of 2007.

14:27
So from 2008 onwards, we will have a a new machine with fuel injection to comply with the new EUR 3
regulations which are mainly to do with emission levels.
14:37
This will mean we have to change our marketing strategies quite drastically because after a 55 year
production run on the old engine, things are are taking a great step forward, which means our
customers will change.

14:49
We'll still have a very nice classic looking machine but with a modern engine in it.

14:53
So we can still appeal to the classic market and also move it much more into the mainstream
commuter market sort of general leisure market.

15:03
The gradual move is important for us from the the the current range that we have now to the to the
machine in the future.

15:10
There are, there are a lot of people's views out there that that Royal Enfield shouldn't be modernising
the brand.

15:17
We are being forced to do so by European regulations, but it's actually on a commercial level, it's it's
helping sales.

15:23
First of all, the introduction.

15:25
I have an electric start on a bike that hadn't been changed for nearly fifty years.

15:29
All the traditionalists were up in arms.

15:31
But in actual fact it accounted for 70% of our sales in its first year of introduction.

15:36
And then two years later we introduced A5 Speed left foot box.

15:39
And again, you know, what are you doing to the Royal Enfield brand?

15:42
It's not, not the right thing.
15:43
It was over 60% of our sales.

15:45
So it actually goes to show that we're moving into a much more of a modern market and appealing to
a much wider audience.

15:52
Certainly with the electric start maybe people that do ride traditional 1950s machines, it opens it up
because there are we all have injuries, arthritis etcetera, you can start the machine.

16:04
People quite often have British classic machines in the garage that they cannot ride because they can't
start them.

16:09
The process of getting a bike from a from from the factory in India to a customer in the UK, the bikes
are built in India to European specs.

16:17
So we we place an order with the factory they built as a specification to comply with European
legislation.

16:24
So they do have different tyres, lights, emission control to the domestic machines.

16:29
They're then packaged up in batches of 38 and put into a 40 foot container.

16:34
They're then shipped from the factory to the port just down the road in Chennai.

16:39
From Chennai they get onto a container ship and they take four weeks on the water.

16:43
They'll arrive in in Southampton at the moment and then they're shipped to us by road and we're up
in in Blockley in the Cotswolds.

16:51
We then put them into our warehouse as we take an order from a dealer.

16:55
The bikes are taken out of the boxes, They're assembled here.
16:58
There's not a great deal of assembly to do.

17:00
We put the front wheel on, the mud guards assemble the lights.

17:04
They're then checked cosmetically here.

17:06
Every bike is Rd.

17:07
tested.

17:08
We then put them onto a metal framework, a metal pallet.

17:12
They're then shipped to the dealers through a national chain of national network of company called
Jeffco.

17:19
They will arrive at the dealer on a metal pallet.

17:21
The dealer will wheel off the bike.

17:22
They they're not left with any packaging.

17:25
The bike is then ready to go into the dealer's showroom.

17:27
They can either prepare that for sale to the customer who will come and collect that from the shop, or
it will sit there until the customer comes in and would like to buy it.

17:36
Our dealer's role in the sale of Royal Enfield's is probably the most important factor.

17:40
They are the sort of shop window for for our potential customers.
17:44
They provide the road tests, they they provide the advertising on a local basis.

17:49
We do a national advertising campaign, we do national shows, but the dealer really can get to the
local potential customer by putting the bike in front of them.

17:58
We're in a bit of an unusual situation with Royal Enfield where the customers that we're really
appealing to may not have been within in motorcycling for maybe 20 years.

18:08
So some of them don't even know that the product's available.

18:10
So even on a national basis we're advertising in, in national motorcycle magazines.

18:16
If it's not part of your current interest, you will miss our advertising.

18:21
It's very expensive to advertise in the sort of lifestyle magazines on a national level, so we've sort of
rely on the dealers a bit to do it in the local papers.

18:28
They can place machines in shop windows that aren't necessarily motorcycle related, so a lot of them
put them in lenswear shops, insurance shops and get the presents out there on the High Street as well
as doing local shows.

18:41
But they really are somewhere for people to go and see the whole brand and have a test ride on the
machine, which is most important because they haven't ridden a bike for 20 years.

18:49
We communicate with the market in various ways.

18:51
We obviously have a national advertising campaign where we have full page adverts including a deal
list in in most of the classic UK publications and there are a lot, There are probably half a dozen
magazines specialising in classic motorcycles alone.

19:06
We also advertise in a lot of the mainstream motorcycle magazines, not necessarily magazines that
appeal to the sports bike rider, but the traditional sort of tourist touring motorcycles.

19:17
There's a very good magazine called Motorcycle Sport and Leisure which is ideal for our sort of
customer.

19:22
We do a bit of advertising in motorcycle news.

19:24
We have a very good PR company that works for us who has contacts with within the whole of the
motorcycle trade.

19:30
So Rd.

19:30
tests, press tests are a very big part of communicating with the end customer.

19:36
As well as our website is we've got a very active website with all technical specs, pictures of machines,
Rd.

19:43
tests.

19:44
People can contact us from the website and ask questions on sales, where are there local dealers
technical questions.

19:50
The the website also plays a a very big part in our in in contacting the end customer and there are
several national shows that we go to, primarily the the International Motorcycle Show at the NEC.

20:03
It's normally in November.

20:04
There's a huge attendance there, classic bike shows at Stafford as well as our own open day.

20:10
We have an open day in July last year we saw nearly 2000 people here.

20:16
Hi, I'm Ashish Joshi.

20:18
I head the business for Royal Enfield in Europe.
20:21
About Royal Enfield they're 102 year old brand which was the the basic company was established in in
Redditch near Birmingham and when that company closed down the factory in India was the only
surviving Royal Enfield company left.

20:36
How they got to India was was was quite incidental actually.

20:39
The Indian Army ordered 800 motorcycles in 1950 and from there on it's it's it's been a been a love
affair with India where they've they've just completed 50 years last year.

20:50
I would define marketing as the as a complete package wherein you identify what the customer needs
and wants and then you make all the efforts to supply that to him.

21:02
It's a complete package of identification of needs going down to the end where you've actually
supplied that to him and then you find out whether he's satisfied with that or not.

21:12
The competitive environment of Royal Enfield would would would comprise of not only old vintage
motorcycles that we're competing with we are competing with with a leisure holiday we're competing
with with somebody wanting to to put up an extensive garden shed or something like that.

21:30
We it's it's it's totally it's totally a leisure product which is in it which can be classified as a as a modern
toy maybe.

21:41
But I I I wouldn't I wouldn't call it a modern toy.

21:43
More more or less it's it's it's a complete motorcycle it's it's a usable motorcycle.

21:48
It's people who buy it understand it's not a it's not a modern motorcycle it's not a mainstream
motorcycle that you would use it to to get to work.

21:57
A few people still do that.

21:59
But in terms of the competitive environment, again as I as I said just now, we compete with all of all of
these things, right from a leisure holiday to to somebody wanting to put up a garden shed to
somebody.
22:10
It's basically the spare cash which goes into this motorcycle.

22:13
The core customer for us in Europe is somebody who's 50 years plus in terms of age he's, he's been
on a Royal Enfield in his younger days, maybe he was 18 or 20 or somewhere there.

22:25
He wants to he's a born again biker, wants to come back again onto motorcycling.

22:30
This is again smaller sized motorcycle, fairly safe again with the classic heritage on it.

22:37
So he's he's sort of reliving his he or she is they're they're reliving their old days back again and
getting on to this motorcycle while in India.

22:45
The customer is actually somebody who's already owned a small into Japanese motorcycle.

22:50
He's come back, wants to upgrade, he's come back to us.

22:54
Looks at a motorcycle purely from from perspective of showing it around to people making a sort of a
status status statement that this, this is the motorcycle that I can afford now in terms of age, the big
differences in India are motorcycle customers.

23:11
Again he's older than than the normal motorcycle customer in India, but he is about 30 years, 30 years
old.

23:18
The Bullet Royal Enfield Bullet in India, normally not bought by parents for their children.

23:26
It's it's somebody who started started working, earning decent sums of money who wants it for
himself in Europe.

23:33
Again the the big difference we find is a Royal Enfield Bullet is more acceptable to your wife or to your
spouse than than any other motorcycle because you have lesser chances of wrapping yourselves
around a pole on a on a on a Royal Enfield Bullet than than you have with most other motorcycles.

23:49
Well hi, my name is Danny Posse.
23:53
I'm the managing director of In MO in MO Restaurant is a new restaurant opened up on Wardour St.

23:59
in London, Soho area.

24:03
We are an interactive ordering restaurant and what that means is that customers place orders directly
through their table rather than with a waiter.

24:11
Waiters still deliver the food directly from the kitchen, but the idea is that the irritation parts of
ordering in a restaurant have been removed.

24:19
Well, when first identifying the opportunity for our business, we were actually a friend of mine and I
were having lunch at A at another restaurant.

24:30
This is about 3 1/2 years ago and we had a really great meal and got to the end of that meal and
wanted to order the bill.

24:38
However, we sort of sat there for 10 minutes trying to grab a way to the attention, waving at
everybody and and every waiter was sat there looking at the floor trying their best to to to ignore us
really.

24:47
And it was at some point in from from this frustration someone said well you know how good would it
be to just stick your credit card into the table and go at Inamo.

24:58
We we don't actually have a situation where you can stick the credit card at the table but that is where
the concept did originate.

25:04
Linen has been three years in the making and and prior to the incorporation of the company we
actually wrote about a 50 page business plan with spreadsheets and all.

25:14
It was very much a case of a lot of market research and a great deal of of forethought on how how we
might bring this to market.

25:22
There obviously were other options we we we didn't have to go ahead and and open up a restaurant.
25:28
Well, in terms of market research we looked into what other or interactive ordering restaurants and
concepts there might be specifically a lot of search on the on the World Wide Web and just sort of
going around London from to to various restaurants.

25:43
We also looked very much into the the restaurant sector good just standard good guides obviously
things like time out and Zagat survey give you give you an immediate sort of quick summary.

25:53
There are plenty more in depth things actually meeting, meeting people in the industry, going to
going to shows and exhibitions are quick ways of of learning a great deal.

26:04
We also did a few essentially brainstorming sessions just with both our friends and just random
people who we saw to get feedback on what people thought of the concept and where they thought
they what price range they thought they might be willing to pay for a a restaurant of this ilk.

26:21
I mean one piece of feedback which which we got was that this is something which would not fit very
well in a formal French dining environment.

26:30
For example, we came to the conclusion that Oriental fusion was was the appropriate cuisine type
partly because of the OR of the price point at which sort of the the high end can be offered.

26:44
But also of the the the method of delivery of the food where it is fairly ordinary in a oriental fusion
cuisine for the food to arrive as it's ready and and rather rapidly, which I feel sits very comfortably with
the concept as a whole.

27:02
With the amount of technology that goes into a restaurant of this ilk, people may think that they're
paying above the odds.

27:10
However, with the increases in efficiency that we've been able to provide we feel that our prices are far
better than competitive restaurants might be able to offer.

27:20
At the end of the day in a MOA is a restaurant and it is vitally important that the food and the
customer and service are and the customer service are paramount within INMO.

27:32
Put simply, if if the food didn't live up to things and if the customer service wasn't as good as it can
be, then people wouldn't come back and ultimately the business would fail.
27:40
The the the goal has to be and and we feel that we've achieved it, that INMO provides fantastic food,
fantastic value with great service and great design as any restaurant must.

27:51
It's my belief that a lot of people expect come here expecting the food not to be great because of the
system and the vast majority of people that we have seen leave here overwhelmed by how good the
food actually is.

28:06
And as I said previously, ultimately a restaurant is first and foremost about food and and we've tried
to take that on board, although we've put every effort into making that our focus more than anything
else because great food will attract customers back.

28:21
Obviously in today, in today's current climate, restaurants are finding it very hard.

28:28
However, I feel that the decor of the place and the quality of the food and the value that we're
providing would be a success regardless of the system.

28:36
System is, is, is is a means to an end, a way of improving the service rather than an entity in itself.

28:45
The decor at any restaurant is a big part of of that restaurant.

28:50
At cinema, we're very unusual in that the ambience and the decor is is provided by our our system,
these projections onto the tables, the lighting of the restaurant of a whole is different every every day
based upon the customers who are in there.

29:02
It's a unique experience every time.

29:05
So in that respect, I feel that we offer something that other restaurants cannot.

29:09
The target market's actually quite a funny one because we initially expected 20 to 35 year old young
professionals of of both genders to really be our our most common customers.

29:19
We've actually found especially on on, on on weekends that we've got a lot of a lot of families that
we've got a a slightly older demographic than we might have initially guessed.
29:29
And and really it's it's it's across the board.

29:31
We are.

29:32
We are finding that that all all kinds of people just come in and want to experience cinema for the first
time.

29:38
We actually spent a great deal of time finding the right location for for NMO.

29:43
We we went through the the government statistics databases and built a database of our own,
analysing the demographics of the whole of the whole of London.

29:53
What we found is that a very small area around central London is really where all all of the buzz
happens.

29:59
It's where all of the restaurants want to be.

30:01
It's where it's where the best bang for your buck really occurs.

30:07
We we then I I talked about market research and we we we married up this data that we that we
found against against what the actual restaurant guides showed and sort of the the most exciting and
best restaurants and they were all actually it was beautiful how how closely that matched our our data
set and and so really after about a year spent looking for for the right location about six months that
was spent just in this local area because we knew this is where a new restaurant needed to be and this
is where the focus and attention could could be brought to to our concept in terms of measuring the
the target demographics at at this stage it's very much just being done by by by observation by
having a look ground on on a nightly basis we we we can see broadly who who is coming and who is
coming out.

31:04
We obviously have have reservation systems which do allow us to track the data but at this stage we
we we don't yet have all of that to hand and it's very much being done on a on a field basis rather
than rather than a data set.

31:20
I feel that information is critical to to, to any business.
31:26
Our goal really is to is to provide the, the best customer service to to, to, to every to to every target
market because ultimately a, a restaurant is a place where people eat and and that is something which
is provided to a very large set of set of target markets.

31:48
Well, I'm Noel Hanwick and I'm Chief Operations Officer or co-owner as you prefer depending on how
much time you've got of inarmo restaurant and bar which is on 134 to 136 water St.

32:01
in Soho.

32:02
And we have we serve oriental fusion food and with but with an interactive table.

32:08
So you can place your order from your table, see little images and previews of what it's going to look
like or very tastefully short of course.

32:15
And then also change your change your lighting, change your ambience, order a cab, play games with
your dining companions and various other features which are coming soon.

32:24
The whole concept of interactive ordering is 1 which has been introduced some places have used
touch screens.

32:33
We found that to be a slightly inelegant solution and also not didn't really function very well.

32:38
We actually feel with the projection system onto the tables, we've added a great deal of great a great
deal of ease to certain areas of the restaurant experience which were somewhat frustrating.

32:51
So you can order what you want when you want, you can ask for your bill when you want it.

32:57
And also it's got a lot more theatre and charm as well in terms of being able to alter the patterns and
colours on your table.

33:04
And lots of little things keep you entertained, such as the video from the live in the kitchen.

33:10
So you can see the chef's pretty much preparing your dinner and it is live.
33:13
Lots of people have said it might be a little loop but it's live.

33:15
An obvious criticism of the system is that it could be gimmicky or that it could perhaps be reduce the
level of human interaction.

33:25
Actually there's two ways to get around that.

33:28
One of them is that no restaurant is complete without excellent food.

33:32
We've always been at pains to emphasise that the food is the king in our restaurant, so without that
nothing matters.

33:41
So that's the main way to make sure it doesn't cross this gimmicky.

33:45
Secondly, we do really feel it also adds a lot of benefits to the consumer experience.

33:51
So if you.

33:54
I personally used to get very frustrated at thinking, oh right, I'd like a beer, I'd like it right now And it
distracts from your conversation while you're trying to look around and find the waiters attention.

34:04
So one of the real benefits is you walk in, you sit down, touch a drink.

34:08
It's one of the most magical things actually.

34:10
You touch a drink and it appears straight away, pretty much straight away.

34:15
So the the good thing as well is that we we've removed the frustrating elements of the waiter's job
but left the human interaction.

34:22
So you can be as sociable as you would like with your waiter and they still bring the dishes and clear
them.
34:27
But all the frustrating elements such as the I want my Bill now I need to go become less stressful.

34:33
Well, obviously we're competing with restaurants of a similar price bracket and of a similar cuisine
style and anywhere on the board and anywhere on water St.

34:46
in the environs.

34:46
However, obviously our more obvious direct competitors in terms of marketing are places such as
there's the touch screen that places utilises touch screens in the states called Youwink.

34:58
Who they've they've had some mixed publicity actually, but they that's the ex CEO of Atari and one of
the founders of Chuck e cheese I think.

35:08
So they're slightly different in terms they're offering.

35:11
We do know there's a couple of other people who in fact we initially liaised with the group.

35:16
There were several groups of people who were interested in trying to work as a partnership and we
eventually decided that none of them quite London quite fitted with us.

35:27
So those are our key competitors essentially restaurants and restaurants utilised technology.

35:32
Fortunately there's very few of them.

35:34
There's a place such called Vapiano that that's actually recently opened on Great Portland.

35:40
I think it's Great Portland Street, but it's very much it's the use of a swipe card.

35:44
So again most of the one, most of the potential competitors are much lower end.

35:48
We're actually pretty much the only place that's trying to elevate it to a middle to high end restaurant.
35:54
It's interesting because there's so much publicity that we can attract in different areas.

36:00
So obviously technology LED magazines and articles very much focused on the the interactive system,
whereas food critics have tried have sometimes said oh compare the black cod here to the black cod
at Nobu, say something along those lines.

36:15
So we're actually, it's a difficult thing for us to balance because we're liable to be judged on numerous
different levels.

36:23
And so we have to try and be the best in all of them, which is.

36:27
So by adding an additional layer to the process, we've actually set ourselves to quite a difficult task.

36:33
Reviews are a difficult, a very important factor for any restaurant because obviously they really do
affect customer opinion and consumer opinion.

36:42
When we've had good reviews, it's been surprisingly noticeable how the next day the phone rings
twice as hard and you're suddenly fully booked, so obviously they're crucial.

36:53
One thing that makes you so nervous about them is they are obviously massively subjective.

36:58
Some people with one person in particular I can think of who came into the restaurant clearly
intending to write a bad review because they weren't.

37:06
They were focused on not liking the concept.

37:09
I think what's been interesting is that the majority of people really have enjoyed like the concept and
and if anything sometimes it's the criticisms have been about the consistency of the food, except for
the consistency, the factor which which I will keep going back to though the difficulty again with
reviews is that generally the best, the best ones are anonymous.

37:31
So you the most reliable ones are anonymous so you don't.

37:33
So it could be any individual within your restaurant and actually maintaining A consistency of service
over say 200 people in one evening it's going, it's very distinctly possible that there might one person
might have a problem And so you're always on a knife edge within a restaurant because there's not,
it's very difficult for that one individual to take an overview of the experience of the corporate whole.

37:54
So it's it's something that makes me very nervous.

38:00
There's only on nights such as your press opening night where you just know that every single person
is a reviewer, so it's got to be perfect.

38:09
Far from that.

38:09
They could cover at any time and surprise you, and you'd open up the metro the next day and find
somebody saying they've personally had a bad experience.

38:15
And we've been.

38:16
I've been really happy with the level of coverage we've had and also with the positiveness of it.

38:22
I was expecting people to be more critical of the the system than they are actually.

38:28
I was being surprised by the positive feedback to a degree.

38:32
People.

38:33
I suppose when you're so close to something, you're inclined to pick holes in it, whereas most people
have actually seen it that it's overall it's a functional and fun thing to engage with.

21:59
Dar în ceea ce privește mediul competitiv, din nou, așa cum am spus tocmai acum, concurăm cu toate aceste
lucruri, chiar de la o vacanță de agrement până la cineva care dorește să amenajeze cuiva o magazie de grădină.

22:10
Practic, sunt banii de rezervă care intră în această motocicletă.

22:13
Clientul principal pentru noi în Europa este cineva care are peste 50 de ani în ceea ce privește vârsta pe care o
are, a fost pe un Royal Enfield în tinerețe, poate avea 18 sau 20 de ani sau undeva acolo.

22:25
Vrea să fie un motociclist născut din nou, vrea să revină la motociclism.

22:30
Aceasta este din nou o motocicletă de dimensiuni mai mici, destul de sigură din nou, cu moștenirea clasică pe
ea.

22:37
Așa că își retrăiește un fel de el sau ea este ei își retrăiesc vremurile vechi din nou și se urcă pe această
motocicletă în timp ce sunt în India.

22:45
Clientul este de fapt cineva care deține deja o motocicletă mică în japoneză.

22:50
S-a întors, vrea să facă upgrade, s-a întors la noi.

22:54
Privește o motocicletă doar din perspectiva de a o arăta oamenilor care fac un fel de declarație de statut că
aceasta, aceasta este motocicleta pe care mi-o pot permite acum în ceea ce privește vârsta, diferențele mari din
India sunt clienții motocicletelor.

23:11
Din nou, este mai în vârstă decât clientul obișnuit al motocicletei din India, dar are aproximativ 30 de ani, 30 de
ani.

23:18
Bullet Royal Enfield Bullet din India, în mod normal nu este cumpărat de părinți pentru copiii lor.

23:26
Cineva care a început să lucreze, câștigând sume decente de bani, își dorește asta în Europa.

23:33
Din nou, marea diferență pe care o găsim este că un Royal Enfield Bullet este mai acceptabil pentru soția ta sau
soțul tău decât orice altă motocicletă, deoarece aveți șanse mai puține să vă înfășurați în jurul unui stâlp pe o pe
un Royal Enfield Bullet decât dvs. au cu majoritatea celorlalte motociclete.

23:49
Bună, numele meu este Danny Posse.
23:53
Sunt directorul general al In MO in MO Restaurantul este un nou restaurant deschis pe Wardour St.

23:59
în Londra, zona Soho.

24:03
Suntem un restaurant interactiv cu comenzi și ceea ce înseamnă că clienții plasează comenzi direct prin masa
lor, mai degrabă decât cu un chelner.

24:11
Ospătarii încă livrează mâncarea direct din bucătărie, dar ideea este că părțile iritative ale comenzii într-un
restaurant au fost eliminate.

24:19
Ei bine, când am identificat prima oportunitate pentru afacerea noastră, eram de fapt un prieten de-al meu și
luam prânzul la A la alt restaurant.

24:30
Este acum aproximativ 3 ani și jumătate și am avut o masă foarte grozavă și am ajuns la sfârșitul acelei mese și
am vrut să comandăm nota.

24:38
Cu toate acestea, am stat cam 10 minute acolo, încercând să atragem atenția, făcând cu mâna la toată lumea și
fiecare chelner stătea acolo uitându-se la podea, încercând tot posibilul să ne ignore cu adevărat.

24:47
Și a fost la un moment dat din această frustrare cineva a spus că știi cât de bine ar fi să-ți bagi cardul de credit în
masă și să mergi la Inamo.

24:58
De fapt, nu avem o situație în care să puteți lipi cardul de credit la masă, dar de aici a apărut conceptul.

25:04
Lenjeria a trecut de trei ani în pregătire și, înainte de încorporarea companiei, am scris de fapt un plan de afaceri
de 50 de pagini cu foi de calcul și tot.

25:14
A fost foarte mult un caz de multă cercetare de piață și de multă gândire anticipată asupra modului în care am
putea aduce acest lucru pe piață.

25:22
Evident, au existat și alte opțiuni, noi nu trebuia să mergem mai departe și să deschidem un restaurant.
25:28
Ei bine, în ceea ce privește cercetarea de piață, am analizat ce restaurante și concepte interactive de comandă ar
putea fi în mod special multe căutări pe World Wide Web și doar să mergem prin Londra de la la la diferite
restaurante.

25:43
De asemenea, ne-am uitat foarte mult în sectorul restaurantelor, doar ghiduri bune standard, evident lucruri
precum time out și sondajul Zagat vă oferă un rezumat rapid.

25:53
Există o mulțime de lucruri aprofundate care se întâlnesc efectiv, întâlnirea cu oameni din industrie, mersul la
spectacole și expoziții sunt moduri rapide de a învăța multe.

26:04
De asemenea, am făcut câteva sesiuni de brainstorming doar cu prietenii noștri și cu oameni aleatori pe care i-
am văzut pentru a obține feedback despre ceea ce credeau oamenii despre concept și unde s-au gândit că
intervalul de preț au crezut că ar putea fi dispuși să plătească pentru un restaurant de acest gen.

26:21
Adică, un feedback pe care l-am primit a fost că acesta este ceva care nu s-ar potrivi prea bine într-un mediu
formal de mese franceze.

26:30
De exemplu, am ajuns la concluzia că fuziunea orientală a fost tipul de bucătărie adecvat, parțial din cauza OR
al prețului la care poate fi oferit un tip de top.

26:44
Dar, de asemenea, metoda de livrare a alimentelor, în cazul în care este destul de obișnuit într-o bucătărie de
fuziune orientală ca mâncarea să sosească așa cum am