The competitive market environment in which the restaurant business operates involves the marketing of the restaurant. It is necessary in order to increase the efficiency of its work by increasing customers and other activities. Therefore, the marketing research problem is associated with the study of the population’s demand for restaurant services, as well as the purposeful formation and maintenance of demand for restaurant services. This economic environment determines the specific commodity-money relations of the restaurant business, focused on customer service and profit-making (Samoggia et al., 2019). Since the restaurant under study is independent, it is characterized by organizational and economic isolation. Therefore, its market targeting is focused mainly on the target audience of the customer base.
The orientation of the marketing tools of this restaurant to the requirements of specific market segments of national food. The situation in the restaurant business market can be characterized as a situation in which both supply and demand are objectively present. Since the behavior of market participants can be defined as dynamic, there are a large number of competitors in the field of national cuisine. In conditions when the restaurant market is oversaturated with similar offers, clients begin to choose the brand that is closest to them in terms of their lifestyle.
Objectives
The objectives that I had researched include an increase in sales volumes due to the growth in the number of customers or orders. I also investigated attracting customers by raising the attractiveness of products, enhancing the profitability of income and expanding business. In addition, the issue of ways to gain leadership positions in the national cuisine industry and increase the competitiveness of business was studied. The existing targeting is appropriate, but changes are constantly taking place in the restaurant business. In this regard, the chosen strategy is no longer as effective as before. Coverage and traffic are starting to fall, and the engagement of both warm and cold customers is significantly reduced. Therefore, it is necessary to carry out improvement in targeting, which will correct these indicators.
The new target market will have to deal with socio-demographic parameters and interests. It will be aimed at finding new mechanisms for organizing business processes and development. In addition to optimizing and reducing costs, the target market will be reoriented to new ways of online promotion and building a system of interaction with customers (Kotler, 2019). Existing offers are based on a unique sales offer that the target audience likes and helps in promoting the restaurant. In every city there are many competing cafes of national cuisine and the food in most of them is delicious. However, the venue has a product that makes it unique in comparison with competitors. Special characteristics include products such as dishes on the menu, cooking methods, restaurant services, and exclusive ingredients.
The prices in this restaurant are significantly higher than in many others in the neighborhood, and yet every evening all the tables are filled with visitors. Existing market offers was able to create such a value of its product, overpaying for which the consumer does not feel deceived. Despite the fact that the prices in the restaurant are not low, the owner managed to increase its value with the help of existing market offers. A modern restaurant is not just a territory of delicious food, but also a place where visitors come to relax and enjoy a comfortable environment. Therefore, existing market offers also demonstrate the facilities of the restaurant.
Every detail is taken into account when developing a design project. The design of facilities in the same style, the right decor, comfortable furniture and a noticeable entrance group are important components of existing market offers. Improvements to be made on them are not very significant. Perhaps a new unique trade offer should be added to the menu, since over time the old one has somewhat lost its individuality. It is also necessary to make prices more affordable, as it is possible that the restaurant will not withstand the competition of cheaper establishments of the selected price sector.
Target Segments
The appropriate segments that I would like to target are native speakers and non-Arab foreigners. Arab foreigners are excluded because there are similarities with native traditional food in their culture. The most active audience will be people from 25 to 40 years old (Samoggia et al., 2019). People from professions who are fond of traditional culture will also be the target audience of the restaurant. The segmentation strategy that I have adopted is based on the interests and solvency of customers.
Young people of the selected age segment tend to eat in restaurants more often than younger or older age groups. In addition, the socio-demographic group of native speakers is interested in traditional culture and will choose national cuisine among other options (Kotler, 2019). The reasons for targeting the selected segments are due to the financial situation, age and nationality of customers who, according to statistics, most often visit traditional restaurants. The set of these characteristics allows the marketer to correctly identify the potential audience that will definitely consume the product produced by the restaurant and the services offered.
References
Kotler, P. (2019). Marketing management. NJ, Sitz: Prentice Hall.
Samoggia, A., Bertazzoli, A., & Ruggeri, A. (2019). Food retailing marketing management: Social media communication for healthy food. International Journal of Retail & Distribution Management, 47(9), 928-956.