Target market report Essay Example

Target Market: Restaurant Case Analysis

The Focus of this paper is on discussing the different levels of market segmentation there are for the restaurant at hand. The following section provides a succinct discussion

First, the restaurant will price its food products regardless of the demographics of the potential customers. This means that food products will be served regardless of such factors as age; religion or even gender level as all products and services are offered at affordable price. However, in regards to income level; it can be noted that these food products are offered according to different points. To supplement on this component, the restaurant extends its rather wider selection by coming up choice of dishes options. This facet is focused on availing dishes on such important aspects as their seasonality or according to special ingredients. Seasonality food products will be offered at a time when these foods are readily available in the market and will be offered and marketed at a discount price (Ulaga & Chacour, 2001). A special ingredient is focused on those high-end customers that desire to pay premium prices in order to enjoy distinct tastes.

Price point is another form of market segmentation component that is expected to attract even more revenues as it caters for different needs of customers in regards to their willingness and capacity to part of with prices for different food service and products (Ginsberg & Bloom, 2004). At the moment, there are three price points that include; entrée prices, which is a product offer that seeks to cater for those customers willing to pay for food between $18 and $22; Main courses that are offered at a price range of $35 and $45 and dessert, which is offered at a price range between $15 and $18. The entrée food products being offered at the restaurant that are ranged within the aforementioned price range include; Steamed Tasmanian King Scallops with Sweet Corn puree, Baked Portobello Mushroom Sourdough Bruschettas, Buttermilk Fried Chicken Tenders. Main courses include; Roasted gorizia, spring Lamb shoulder, Baked Vegetable tartlets, Poached Wagyu Beef eye fillet as dessert includes; Mango, coconut & Macadamia ice cream layer cake, white chocolate mousse, Pink lady apple pancakes.

It is important to note that the facility will also focus on enhancing their marketing revenues through other provisions. For instance, the style and design of the restaurant seeks to incorporate both modern and conventional design models that seek to explore authenticity and uniqueness capacities (Belch & Belch, 2003). The model is also set to portray the restaurant in such a class manner that will allow for them to pay for the price ranges offered without any form of hitches. In fact, the lighting levels of the dining room will all be filled with unique lighting structure that will facilitate elegance and privacy for customers located at different position of the establishment.

The location of the restaurant is set to be Melbourne since the city is growing so fast with more potential for high-end customers. Also this location provides an ideal area since the current rent prices for spaces is affordable. Despite the area having more rival restaurants; given the unique idea of the restaurant; there are possibilities of going past competition.

References List

Belch, G.E. & Belch, M.A., 2003. Advertising and promotion: An integrated marketing communications perspective. The McGraw− Hill.

Ginsberg, J.M. & Bloom, P.N., 2004. Choosing the right green-marketing strategy. MIT Sloan Management Review, vol.46, no.1, p.79.

Ulaga, W. & Chacour, S., 2001. Measuring customer-perceived value in business markets: a prerequisite for marketing strategy development and implementation. Industrial marketing management, vol.30, no.6, pp.525-540.