The – It is important to all marketing

                         The Consumer

Target Market means a particular group of consumers
or customers at which company aims its product and services .Our company aims
at millennial generation ,they comprise the group of about 80 million children
and young adults who born between 1980 and 2002. Millennials are more
fascinated about food. Millennials have experienced childhood during a time of
technological change, globalization and financial disruption. When it comes to taking
vacations millennials are going an alternate route as compared to any other
generation. Millennials changing state of mind toward work and leisure is
influencing the corporate world and this has an effect on travel world. They
spend slightly more on dinning out than other generation. They visit fast food
joints at least 12 times each month and spend greater value of their salary on
food than any other generation as well as they prefer eating outside rather
cooking at home .

Millennials always look for creativity and innovation
in fast food restaurants and they consistently presented to numerous social
impacts, and they are used to having bunches of choices whenever want to shop. They
have adventurous tastes so they are keen at various items on fast food eateries.
Millennials are addicted to their phones, nowadays they depend upon social media
so our company have online site which is mobile friendly, and millennials loved
to use that because they want fast service as well they do not have to go
anywhere they can order anything while sitting in home. As the communication
and sharing became easier by social networking cites, sponsorship and joining
local groups and making dining menus are easier which attracts millennial
groups more toward food niche. Adults always want to try excited things so they
come and learn cooking too.

S. (2011,
October 31). 2 Target Markets for Restaurants. Retrieved January 04, 2018, from
https://www.qsrmagazine.com/denise-lee-yohn/2-target-markets-restaurants

 

 Segmentation
is a process of subdividing potential clients in groups, or segments, based on
different characteristics. In a food industry, segmentation is hot topic. There
are different types of types of customer segmentation such as demographics,
psycho graphic, geographic, benefit and behavior.

·        
Demographic
Segmentation – It is important to all marketing departments
because the information is effectively accessible and does definitely influence
purchasing patterns. It is based on age, gender, income and family life cycle. Demographic
segmentation is an efficient way for targeting more segments at once. Gender is
the one of the most important part of demographic segmentation because the
needs, interest and taste of males and females also it varies for age as children
and adults mostly like junk food whereas seniors prefer healthy food. Religion
is a segment which might be connected to race and ethnicity, as religious
convictions has great impact on purchasing food items. For example – Sikhs are
only allowed to eat vegetarian food. Race factor also influence the buying
behaviour of customer as an American customer have different buying behaviour
than an Asian customer.

 

·        
Geographic
Segmentation
– It divides the consumer marketing segmentation on the basis of geography,
also it breaks the market into sections of region, climate and market size.
Some companies use geographic segmentation to target new locations and
territories. For example – If a restaurant is marketing to people who are
living far away from that restaurant then it will be fail in its business.
Travelling time is most important so that restaurant has to reach the people
who are living near. Different regions in the country have different product
needs. Geographic strategy also works with seasonal marketing for shifting
moods of clients as weather turns cold and hot. Many beverages companies take
out hot drinks during the fall to catch the turning attention of consumers
towards the cold weather.

 

·        
Behavioural
Segmentation
– It divides the population on the basis of their nature, behaviour, way the
people react to, utilize or how much they about the product. The behaviour
followed of reasons for client divisions are; the attitude of customer towards
the product, information of the item, how, when and how often clients utilizes
the items.  The knowledge of the item and
its usage influence the purchasing choice of the client. This segment also
based on loyalty; if your customer is loyal to you then the customer base will
be better. The best example for behavioural segmentation is restaurants where
they give their best hospitality service to retain their customers. Behavioural
segmentation for the restaurants follows marketing procedure since it enables
marketers to target particular group based on actual behaviour of consumer.

 

Bell, E.
(2017, May 22). Customer Segmentation: 5 Ways to Divide the Consumer Base |
BRIDGE. Retrieved January 05, 2018, from http://www.thebridgecorp.com/customer-segmentation/

 

Bhasin,
H. (2017, December 15). Behavioral Segmentation explained with Examples.
Retrieved January 05, 2018, from https://www.marketing91.com/behavioral-segmentation/

 

J.
(n.d.). The Four Types of Target Marketing. Retrieved January 04, 2018, from http://smallbusiness.chron.com/four-types-target-marketing-30472.html

 

 

 

 

The behaviour of target market depends upon the quality, brand,
packaging and pricing of the product. As explained in behaviour segmentation,
the behaviour customer is influenced by the quality of hospitality service provided.
Brand name of company is crucial factor that influences the behaviour of
millennials towards the product because brand name and image both evokes the
buying decision of customer. If company is able to develop positive brand
reputation than they can easily influence customer purchasing decision. People
will look at your product, and then they will judge the product with others and
choose you over the competition if you have the positive reputation. Millennials
look for creativity and innovation in any fast food restaurant. Nowadays restaurants
tries to attract the millennials by offering the things that matter most to
them such as separate dinning spaces, fast services with  ready to eat and go service , late night,
happy hours and bar experiences that they loves the most .

 

We divided the millennials into two groups (age18-24 & age 25-34),
millennials of (age 18-24) are more likely to leave high school and looking for
work whereas (age 25-34) are forming relationships. Millennials of age 18-24
are those who spend greater value of salary more on restaurants because they
are less likely to prepare food at home. Time is also a factor due to which
this age group depends more on restaurants as one third of them are studying in
colleges who are more likely to take out food from outside.

 

Millennials are more likely to adventurous customers. In food market,
millennials are more adventurous in their interactions with food than any other
generation. They feel uncomfortable eating alone so they enjoy eating with
friends whether food is cooked at home or going out happy hours with friends.
Millennials are thrill seekers who pine for uplifted eating experiences for
example outrageous textures and extraordinary flavours. They swoon over strange
nourishment shapes and obviously, clear worldwide cooking styles, particularly
when they mix crisp and hot. They want to know from where their food is coming
from and how their food is made. They also try to learn cooking or making
different dishes at home.

 

They are reliable and long term customers as we discussed earlier that they
more likely to take food from out rather cooking at home so this is very clear
that they are regular or we can say long term customers. They become loyal to
restaurant if the serviced provided to them is in positive manner. If restaurants
give the best experience while providing the product, millennials will attract
more toward that

Alton, L.
(2016, January 05). 5 Factors That Directly Influence Customer Purchase
Decisions. Retrieved January 05, 2018, from http://customerthink.com/5-factors-that-directly-influence-customer-purchase-decisions/

 

Guercio,
E. (2017, March 09). Consumer Corner: Millennials: Meet the Boomers’ Kids (Part
1: Profile, Food and Beverage Consumption Habits and Attitudes). Retrieved
January 05, 2018, from http://www1.agric.gov.ab.ca/$department/deptdocs.nsf/all/sis14102

 

Roosa, A.
(n.d.). Millennial view: the long-term effects of Millennial bashing – Relate
by Zendesk. Retrieved January 05, 2018, from https://relate.zendesk.com/articles/millennial-view-long-term-effects-millennial-bashing/

 

 

 

 

 

 

 

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