Market Research for Quick-Serve Restaurants Essay
We would target people of all educations and professions, making any type of salary at all. Targets would range from small to large families, home owners, renters, and dependents. The geographical location that we would target would be the Rochester, NY metro- area. We would attempt to attract customers throughout a 30 mile radius. Benefits of this restaurant would include quick service, affordable prices, fun environment, and a family oriented environment. The behaviors of these targets would repeat customers that purchase a few times a month.
They will be quick decision makers. They will purchase at the single restaurants and mall locations. They will buy through cash and credit. They are assumed to be impulse buyers. They will want to buy from Macaroni Express because it will have fast, affordable, and reliable service. Other Market Influences Economic: Although the growth rate of the population of Rochester, NY is decreasing by 5. 33%, the recent Job growth is 0. 22% and the future Job growth is 33. 44%. The quick serve restaurant industry health is currently very strong and expanding (especially globally).
A big trend of quick serve restaurant has always been high- calorie, unhealthy food. Almost all today are pushing to provide
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If sales were to decrease in this situation, fast food restaurants can lower prices, increase advertising, and possibly merge with other fast food chains to take a larger portion of the market. Inflation would force prices to raise for all products that include ingredients from inflated items and commodities. Technological: Macaroni Express ill always spend money on new technology that will help provide faster service and better food. Keeping the computer sales system up to date would be a must.
New technologies would absolutely improve product production. To remain competitive, it is a must that technology stays up to date. New tools would be ideal for repairing equipment. New equipment would be ideal for cooking food more efficiently. Governmental: The passage of new laws and/or regulations would force our business materials, or equipment and could become very costly, depending on the terms. Suppliers would potentially have to be replaced. Prices would possibly need to be lowered if new taxes were to come upon the business.
Social/Demographic/ Geographical Factors: Social and Demographic factors could affect Macaroni Express if the United States made a huge stand to refuse eating fast food. Although much of the food offered by Macaroni Express would not include items of high fat and high calories, these items would tend to have many carbohydrates. From a geographical standpoint, if the population continues to decrease and the Job growth begins to crease, sales will be destined to decrease, unless other businesses go out of business or relocate.
The trend of eating fast food in urban areas continues to increase. If the demographics in the area we operate business in changed from any one age group to any other, it wouldn’t affect the business too much considering our company targets people of all ages. Macaroni Express would be selling primarily to; young to middle aged people. Seasonal Fluctuations: Due to the lake effect snow and very cold weather that Rochester, NY gets in the winter, business may slow down room November to February or even October to March.