Target Market: The Target Population Of This Restaurant Is I

Target Marketthe Target Population Of This Restaurant Is Inclusive Of

Target market The target population of this restaurant is inclusive of those in and outside the school environs. This essentially will be made up of the low-income population of those in school and live in the surrounding. Ethnic Fast food restaurant aims to establish a firm and all inclusive delicacies of those living in the area. That is to say, the target market is every ethnic group represented in the area for these communities whether within or from different states and nations shall have their favorite delicacies brought close to them. The various nationalities are the primary target market and the student population in general (Jones, 2014).

Competitors There exist bigger players in this industry, most of which will give Ethnic Fast Food restaurant the competition it should. One of the big players with a 17.8% global market share in the industry is the McDonalds. It is hard for an upcoming restaurant to catch up with such a steady and already established restaurant. Other competitors like the YUM brands and the Burger King are also major competitors. Ethnic fast food and restaurant, however, will be among the first few of its kinds to become one of the key players in the fast food industry.

Minority tastes and preferences considerably have a high influence on the market trend in the fast food industry and the restaurant being inclusive of this stands square chance of acquiring quite a market share in the industry, The reason for this is because the prospective competitors have not considered these communities and hence the gap. Filling the gap is, therefore, a plus one for the restaurant. Position statement Ethnic Fast Food Restaurant has this belief that the target audience prefers their homeland traditional food and is more receptive especially when brought close to them. At the restaurant, the positioning is that both the natives and the foreigners do prefer their home delicacies and their traditional food over other foods offered by the restaurants around.

It is this drive that will hopefully put the restaurant in a position where it can acquire a market share both within the school and outside. It specializes in ethnic fast foods because the students of various nationalities within the locality of the school are high in number and their population have been from an observation and research treated as the minority group and therefore not considered in the menus of the existing restaurants. It will give the students a feeling as though they were in their respective countries enjoying some of their most loved delicacies. The industry to which the Ethnic Food Restaurant is going to be the restaurant industry. In this industry, two kinds of restaurants do exist and each of these offers unique experiences in terms of food service and other service provisions.

The fact that ethnic fast food restaurant will fall under the limited service restaurants will put it in a better position to acquire a larger market share. Marketing and Promotional Strategy The restaurant will focus on a grand opening where every ethnic group will be identified. The main focus thereafter will be to raise the target population awareness in the environs both within the school and outside. The primary goal will be reaching out to these ethnic groups and getting them to know there exists such a fast food restaurant. After the awareness, the next thing that follows is ensuring that every ethnic group, however, minor it is, is included in the menu.

The foods offered should be diverse with the taste of the tradition as per the ethnic communities. That is to say, the cooking will be the sellout and it will be established by reaching out to these foreign persons who are in a position to give the best information regarding the foods. Pricing is another facet and in order to have a larger market share, the food should be relatively cheap. The prices will be of standard value and all the menus moderately priced. The strategy here is not, however, lowest price food per se but rather affordable food for all groups in the area.

It basically involves pricing the products at the levels that match the value which the consumer feel they get from it. The restaurant aims to specialize in ethnic cuisines while at the same time emphasizing on the speed of service delivery. As a promotional strategy, the restaurant will offer services at a discounted rates for a short while starting its opening to two or three days after the grand opening. This will have the students have more visits to the place and finally get hooked in the business services. Generally, the marketing strategy will draw on the very major aspects of marketing which includes advertising and promotions as stated earlier through magazine launches and media publications like the school magazine, emphasizing on the customer service and building structure that is well put and in a position to attract the target market.

The four Ps of a fast food business model will be adopted in the service provision and operations in the development of the business. That is, the product, placement, pricing, and promotion will be the key variable model in keeping the competition at the edge. Resources used Setting up the business marketing plan requires every tool essential for a good foundation of a business and the overall launching it in the market and thriving. In this case, a loan from the bank which supports small businesses through offering loans with a low-interest return rate is essential for a start. Equipment to be used such as stoves, ovens, fryers, booths, table seats for those who would prefer to eat in, and one or two refrigerators will also be purchased.

Ingredients for the fast food will have to be outsourced from reputable vendors. To keep track of the business, a bank account will have to be opened which will also establish an accounting and payroll system. Just to start off, the menu will begin small while taking suggestions from the customers on what they feel should be added (Kimmons, 2016)

Paper For Above instruction

The target market for this ethnic fast food restaurant primarily includes students from various nationalities living within and around the school environment. Recognizing the diversity and preferences of minority ethnic groups, the restaurant aims to offer traditional delicacies that are underrepresented in current fast food options in the area. This inclusive approach targets both local residents and international students, many of whom seek authentic cuisine from their homeland. The fast food industry remains highly competitive, with established giants such as McDonald's, YUM brands, and Burger King commanding significant market shares (Jones, 2014). However, the gap in catering specifically to minority and ethnic preferences provides an opportunity for a niche market.

Positioning the restaurant as a provider of authentic ethnic foods, both native and foreign, will differentiate it from existing competitors. The belief underpinning this strategy is that both native and foreign customers prefer familiar traditional dishes, especially when these are conveniently accessible and competitively priced. The focus on limited service allows the restaurant to operate efficiently and reach a broader clientele, including students, local residents, and ethnic communities.

Marketing efforts will prioritize awareness campaigns through grand openings, targeted advertising within the community and school, and engaging with ethnic groups to ensure menu diversity that satisfies their culinary expectations. Pricing strategies will emphasize affordability, ensuring the food remains accessible without compromising quality. Promotions such as initial discounts will incentivize repeat visits and build customer loyalty.

The restaurant's resources will include kitchen equipment such as stoves, ovens, fryers, refrigerators, and seating arrangements to facilitate dine-in services. Startup capital will be secured via a low-interest bank loan of approximately $11,100, covering equipment, initial ingredients, and operational expenses. The business will initially operate with minimal staff, scaling up as sales increase. An effective accounting and payroll system will be established to monitor financial health, and menu suggestions will be gathered regularly from customers to adapt offerings based on preferences.

Forecasted sales growth is expected to rise steadily within the first few months, driven by quality service and authentic cuisine. The ultimate goal is to carve out a significant niche in the ethnic fast food industry, gradually expanding and possibly taking advantage of the increasing demand for culturally diverse and fast, accessible dining options (Kimmons, 2016). The business model aligns with the four Ps—product, placement, price, and promotion—ensuring strategic focus in competitive markets and sustaining long-term success.

References

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