Question

Discuss five businesses separately that you know well. Your list could include bars, restaurants, a specific cruise, hotel, health club, etc. Describe the target market of the businesses. Most of your analysis would consist of demographic variables. Incorporate geographic, psychographic, and behavioristic variables.

Answer 1

1.BUFFALO WILD WINGS

Buffalo wild wings is a casual dining restaurant and one of the famous and biggest restaurants today in America. In the past 10 years, it has grown at a very rapid rate.

It has its operations in USA, Canada, UAE, Mexico, Philippines, Saudi Arabia, Oman, and India.

There is an attractive and exciting environment in their restaurant with numerous TV's, so that while enjoying food and beer the customers can also watch their favourite sports events.

It offers many coupons, games and attractive prizes for various entertainment stuff.

TARGET MARKET OF THE RESTAURANT-

There is a clear target segment, which the Buffalo wild wings looks for is the DEMOGRAPHIC. Their target market is Youngsters and aged between 18 to 35, who can enjoy sports and can support their specific sports teams.

On the other hand, Behaviouristic Approach can also be seen here as, according to CEO, Sally Smith, she once said that the customers tend to be penniless to buy the tickets for the sports event.

So they reconstructed the restaurant to grow a sports environment, like a stadium type environment.

Here the Restaurant focused on the behaviour of the customers and they understood the interests of the customers and worked on it.

2. FOUR SEASONS HOTEL

Four season hotels is an international luxury hotel company, headquartered at canada. They have more than 100 hotels and resorts worldwide.

They tend to provide all the world class amenities, with a comfort environment like home. The Four season comprises more than 100 properties across 46 countries and still the company grows.

They have been serving for 50 years, with high-end hotel stays and quality customer service around the world.

TARGET MARKET OF THE HOTEL-

The market strategy of a Four season hotel is to Target the luxury segment of the market, which includes luxury hospitality.

This comes under Demographic Variables, as the luxury segment comprises people with high income, high job profiles and who loves to spend. Their 69% of the business comes from business travellers and groups. So their marketing programs are designed to enhance the luxury service in which technology played a vital role.

Another market segment may include the Geographic Segment as they gained advantage over other hotels by the 'reservation system'. So that the customers are comfortable with their own local language in North America, Asia.

For example- There are numerous hotels in Hyde park area but because of the strategy of Four season hotel, they enjoyed the highest occupancy in the area.

3. PLANET FITNESS

It is the American franchiser and one of the fast growing fitness companies. The company reports that it has 2,039 clubs with a huge number of members and locations.

Locations other than the United States include Canada, Mexico, and also Australia.

The company has 80 corporate owned gyms and the rest are privately owned.

Its per month subscription includes access to cardio and strength equipment, unlimited fitness instructions, and not only this, the member can come with a guest also once in a day with no extra charges.

It also includes access to extra amenities like pizza and bagels once in a month, massage chairs, red light therapy and much more.

TARGET MARKET OF THE COMPANY-

Planet fitness has two main target audiences; First, the one who doesn't have membership of the gym.

Second, the ones who aren't involved in fitness but they are seeking a place where they won't feel terrorized.

They target a certain group of people who don't have membership which can be headed under Demographics.

And secondly, they target those who will not feel terrorized in their place, which can be headed under Psychographics.

4. HARRY'S NEW YORK BAR, PARIS

It is located in Paris, France. This bar was acquired by American star jockey, he converted it and renamed it 'New york bar'.

It is the one of the most famous bars in the world. And the first and the oldest bar. Harry has been serving amazing cocktails since 1911.

It has also been visited by film stars, from Humphrey Bogart to Clint Eastwood.

TARGET MARKET OF THE BAR-

It attracts More millenials, individuals with higher income, and a variety of Multicultural consumers.

Target grew in popularity in the men's razor category. More than two thirds of the Harry's buyers were first time category buyers at Target.

This comes under the Head of Demographics.

5. CARNIVAL CORPORATION & PLC

It is a American- british cruise operator. It is a cruise line service which serves worldwide. And the largest travel leisure company. Carnival is composed of two companies; US-headquartered Carnival Corporation and UK-based Carnival plc.

It comprises nine cruise brands and one cruise experience brand operating 104 ships.

Companies like Carnival of Americans, Carnival of the United Kingdom etc. have full executive control of the carnival brand.

TARGET MARKET OF THE COMPANY-

Carnival cruise lines identify those people as their cruise customers who like to live their life to the fullest and who choose to enjoy it. It attracts families, couples, seniors, singles and it carries more than 9 Lakh children each year which can be headed under Psychographics.