Market Segmentation and Target Market for Fast Food Restaurant

The table which is shown below describes each of the identified segments and appropriately shows the characteristics of the same:

Name	Family treat	Meeting Place	Pressed for time Save Time On Research and Writing Hire a Pro to Write You a 100% Plagiarism-Free Paper. Get My Paper
Characteristics	Taste	Easy option	Necessity
	Heavy user	convenient	light users
	Formal outlet	Easy acceible	adveristement
	availability	Local outlet	convenience factor

The above table shows the target market segmentation for fast-food restaurant chain and the characteristics for the same is shown. The market segment which is selected is the Family Treat segment on the basis main market segment of the business. The restaurant offers good quality food and that too at a cheap rate which can attract customers (6). The restaurant offers special lunch and dinner options which makes the restaurant an appropriate place for family dining. The restaurant also formulates offers in such a manner and also maintains the atmosphere of the restaurant in such a manner that it is appropriate for family dinner.

The characteristics which makes the family market segment appropriate is due to the taste of the cuisine which is offered by the business. Some of the customers prefer the taste of the cuisine which is offered by the Restaurant. Another characteristic which can be identified is that the family segment are heavy users as once they like a place, they would be visiting the same for such family get together (7). The location of the restaurant and also availability of space for a family treat are important constraints which needs to be considered by the business in case of such a market segmentation. The above market segment is also based on behavioral segmentation as the same considers the behavior of the clients and also needs of the clients.

The main part of the question is to analyze one of the online marketing sites and the analysis is to be conducted on the based of quality of the site and also on the basis of the quality of the retailer. The online marketing site which is selected for this part is Alibaba which provides a range of services to the client. The table which is shown below reflect the quality of site and retailer for the business of Alibaba:

Alibaba
Particulars	Ratings	Average Rating
Site Quality
Organization and Ease of Use	56%	50%
Processing Speed	55%
Entertainment	40%
Retailer Quality
Product and Retailer Reputation	72%	66%
Product Delivery	66.70%
Competitive Price	60%

The above table effectively shows the quality rating of Alibaba on the basis of site quality ratings and retailer quality ratings. The organizational and ease of use is shown to be 56% for Alibaba and the same is shown to be appropriate for the business. The processing time and entertainment is also shown up to the mark and the table above shows that more improvement can be brought about in the quality of the site. The average rating for Alibaba is shown to be 50% as per the table which is shown above and the same also suggest that there is more scope of development in the business. On the other hand, the retailer quality is based on the reputation of the product and also of the retailer, product delivery and also on competitive prices of the business. The reputation of the retailer is shown to be 72% which depicts an appropriate rating for the business. and the product delivery time and also the reputation is shown to be appropriate. The average rating for Alibaba considering both site quality and retailer quality is shown to be 66%. The same is greater than 50% which shows that the business is improving significantly. However, on the basis of the ratings, it can be said that there is further scope for improvement in the business.

Quality Ratings for Alibaba Site and Retailer

The journal which is provided in the question is based on the production and development of new Fake meat product which is being introduced in the market. The article states that a new form of meat is being developed which can be developed by either plant products or with the help of animal cells which would be developed in a lab. The article further states that a lot of businesses and industry giants are investing in the concept which can provide the consumers with the option of consuming meat burgers without actually tasting real meat. The article also mentions some of the products which are already developed or are at its developing stage such as impossible burger, beyond meat burger and similar other products. The question requires to suggest an appropriate method of pricing of such meat products.

In order to make the fake meat product which is being developed marketable, the businesses need to adopt an appropriate marketing and pricing strategy. This will not only make the product known in the market but also attract customers in buying the product. The pricing strategy which can be applied by the business for the purpose of making the fake meat product attractive in the market (2). The business should select market penetration pricing strategy for the purpose of making the product available in the market. As per the market penetration strategy, the business would be offering the products at the lowest possible price for the purpose of attracting more and more customers in the market. The market penetration strategy would be appropriate for the fake meat product as the product is durable in nature and therefore needs to be sold as soon as possible. The product is also sensible to price changes and therefore, the prices should be kept as low as possible so that no customers are discouraged by the price of the product. In addition to this, from the point of view of the business, the price penetration strategy can also help in building up the brand loyalty of the product. The purpose of this pricing strategy is to ensure that the product and the business is able to acquire the maximum of the market shares in the industry

The pricing of the combo meal which is provided by the business is to be analyzed with the help of statistical computation of mean and range of prices which can be charged for the combo meal. The table which is shown below reflect the application of statistical methods for analyzing the price range of the combo meal which is offered by the restaurant.

Mean	$       8.90
Standard Deviation	$       3.56
N	21
95% Confidence	1.96
Lower Limit of price	$       7.38
Upper limit of price	$    10.43

Pricing Strategy for Fake Meat Products

The table which is shown above reflect the computation of price range which can be charged for combo meals offered by the Restaurant. The mean in the above table is shown to be $ 8.90 which reflect the average price which can be charged for the product. The standard deviation which reflect the variances is shown to be $ 3.56. The most appropriate pricing strategy which can be evaluated from the above table for the combo meal should be between the range of $ 7.38 and $ 10.43. The frequency aspect which reveals the number of responses for the price range is also considered in the analysis.

The graph which is shown above shows the two different dimensions for the products which is offered by the business. Dimension 1 which is shown in the above figure reflects the brand which is being considered and the dimension 2 reflects the attributes of the brands which is being considered. The positioning of the brand should be in such that the attributes and brands are present in the positive quadrant. The product which is to be considered for the purpose of brand positioning is based on the products which are offered by fast food chain business (5). The attributes of the product which is being offered by the business should be positive in order to ensure that the brand can gain popularity among the consumers of the business.

	Personal systems
2010	40.74%
2011	39.57%
2012	35.65%
2013	32.18%
2014	34.39%
2015	31.52%
2016	29.99%
2017	33.37%

The product which is considered for this analysis is personal system which is quite popular among the customers in the market. The graph which is shown above reflect the fluctuation in revenue of personal system. The above graph shows the percentage of revenue for the year 2010 is 40.74% which is shown to be the highest. In 2011, there is a slight fall in the revenue of the business and also there is a significant fall in the year 2013 and the same is shown to be 32,18%. There is again an increase in the revenue in the year 2014 and the same is shown to be 34.39%.

The revenue which is generated for personal systems for the year 2016 is shown to be 29.99% and the same has increased significantly in 2017 and the same is shown to be 33.37%. The increase in the revenue which is generated for personal systems in the year 2017 is shown to have increased which shows a positive sign for the business (8). The business should adopt offensive strategy in order to further enhance the revenue of the business. Offensive strategy aims at achieving the market growth and also maximize the profitability of the business.

Statistical Analysis for Pricing Range for Combo Meals

Brand building may be defined as an appropriate marketing strategy wherein businesses tries to create awareness of the product which is offered by the business and also apply strategies which can promote the products of the business and thereby also build up positive reputation of the business (3). The main objective of brand building is to promote the business and products by using advertisement and promotional strategies.

One of the major activity which can be undertaken by the business for the purpose of building an efficient brand is through improving the product which is offered to the consumers. The product can be improved by engaging in research and development or bringing about technological changes and innovations. Such an approach not only improves the quality of the product but also might reduce the prices which are charged for the product which will in turn attract more customers to the business (4). The innovation and improvement in the [product might also increase the production capacity of the business and bring about more efficiency. As the quality of the product improves, it is almost certain that the demand for the product would increase and thereby such would help in building customer loyalty and brand image.

The article which is shown in the assessment would be analyzing the journal article which is relating to a business which was engaged in lingerie business. The business earlier was engaged in photo shopping models which has lead to a fall in sales of the business (1). The article states as the advertisement or Photoshopping was stopped the sales of the business has increased by 9%. This may be due to the fact that the advertisement of lingerie product were not appropriate and too much revealing for the customers which lead to negative publicity for the business. As the advertisement for the product stopped the business was sell more products and therefore the sales of the business significantly increase

Year	2012	2013	2014	2015	2016	2017	2018
HP ACSI INDEX	79	80	74	73	77	77	78
Gross Profit Margin	27.7	27.4	28.4	32.4	32.3	30.1	29.5

The graph which is shown above reflects scatter diagram for the business of HP. The above diagram shows that the trend line is shifting downwards which is not a positive sign for the business. The aspects which are considered in the scatter diagram reflect the gross profit margin and the American Customer Satisfaction Index. The trend line is slopping downwards which is not a positive sign for the business and the management needs to make improvement in the same. The R² is shown to be 0.331 which is unfavorable and must be improved by the business.

The relationship which is demonstrated in the above chart depicts a negative relationship between ASIC and gross profit margin of the business. As the gross profit margin of HP product increases, the level of customer satisfaction decreases tremendously.

HP (000’s)	2016
Sales	$    30,280,000.00
Gross Profit Margin	32.30%
Marketing and Sales Expenses	$      5,742,000.00
Net Marketing Contribution	$      4,038,440.00
Marketing Return on Sales	13.34%
Marketing Return on Investment	70.33%

The above table shows the computation of marketing return on investment and sales and also net marketing condition. The figures are computed considering the sales achieved for HP and also the profit generated which is computed considering the sales figure and gross profit margin.

Reference

1. Masaryk H, Masaryk H. When This Lingerie Brand Stopped Photoshopping Models, Sales Shot Up 9%. Adweek.com. https://www.adweek.com/brand-marketing/when-lingerie-brand-stopped-photoshopping-models-sales-went-through-roof-161224/. Published 2018. Accessed December 10, 2018.
2. Spann M, Fischer M, Tellis G. Skimming or Penetration? Strategic Dynamic Pricing for New Products. SSRN Electronic Journal. 2014. doi:10.2139/ssrn.2504719
3. Fang X, Gammoh B, Voss K. Building brands through brand alliances: combining warranty information with a brand ally. Journal of Product & Brand Management. 2013;22(2):153-160. doi:10.1108/10610421311321022
4. Granitz N, Forman H. Building self-brand connections: Exploring brand stories through a transmedia perspective. Journal of Brand Management. 2015;22(1):38-59. doi:10.1057/bm.2015.1
5. Dawson J. Retailer activity in shaping food choice. Food Quality and Preference. 2013;28(1):339-347. doi:10.1016/j.foodqual.2012.09.012
6. Awan M. International Market Segmentation: Exploring Cell Phone Market of Young Adults. International Journal of Trade, Economics and Finance. 2014;5(2):151-154. doi:10.7763/ijtef.2014.v5.359
7. Bases of Market Segmentation Success: A Marketing Decision Makers’ Perspective. International Journal of Business and Administrative Studies. 2016;2(3). doi:10.20469/ijbas.2.10004-3
8. Pearson S. Building brands directly: creating business value from customer relationships. Springer; 2016 Jul 27.