Sunday, October 3, 2010

4.1.3 Market Segmentation Strategy

Exogrill will target the low to mid-income consumers who use to find affordable food like street food. These people are very good representation of the Exogrill's general target market. By providing exotic food and street food that are commonly inexpensive in price but truly appetizing, the Exogrill can manage to achieve its desired target customers.

In general, the market segment strategy of Exogrill is to answer the majority's demand for street food products and make them enjoy it the way they use to feel when eating street foods offered in affordable prices

4.2 Market Analysis

The Exogrill will focus on the customers who are looking for affordable food. These are the customers in low and middle class society who only earn enough income to secure their basic needs. You can always get these desired customers from the passers-by who can be students, teen-agers and adults. Exogrill make these group of people as the target market for the products particularly the street or exotic food.

4.2.1 Demand Analysis

For us to the measure estimated demand for the Exogrill. We first determine our target market. Our target market are the passers-by within the area of the location of Exogrill. These passers-by are composed of students and non-students from age 12 to 20 years old and adults from age 21 years and above.

From our observation, we found out that the total number of passers-by within an hour in the place is 992 or 1000 people when rounded off. Since Exogrill will operate 6 hours daily then we assumed that the total population (of passers-by) in the area is 6000 people. We also estimated percentage of the people in age 12 to 20 years old and 21 years old and older. See the table below:

1 comment:

  1. Market Segmentation Strategy & Demand Analysis were very finely explained here.A market segment is a sub-set of a market made up of people or organizations with one or more characteristics that cause them to demand similar product and/or services based on qualities of those products such as price or function.Whereas,demand analysis is used to perform strictness analysis as well as other program analysis.
    Market Research