• Live chat
  • Order
 
Menu
Live chat
 

Profile the Market

Buy custom Profile the Market essay paper cheap

The world is changing at the speed of light with urbanization taking the main seat. For instance, when we pick on what to consume, we no longer put our emphasis on nutritional value but on how fast they can get to us. Such is a time when fast food stores care to reap, growing quickly from household to multinational names. Brand names such as McDonalds, Wimpy, and Kentucky Fried Chicken are just but a few of the big players in this industry. However, the wrath of planet earth through global warming has raised an alarm and everyone has become concerned with what the put into his or her mouth. Out of this trending worldwide problem, smart entrepreneurs saw a business opportunity and so they came up with a plan that brought to the table organic farm food giving existing restaurants a run for their money. Not wanting to play the victim for long, they (existing restaurants) joined in the campaign to go green in order to keep their customer base. Have they managed to achieve cunning objective?

Growing fast too with the above idea are businesses done on moving trucks. This is where we set up shop aiming to introduce to the world a rare of its kind, food on wheels delivery service. Products will include dishes made from an organic farm produce such as kales, lettuce, and even poultry. At their own points of convenience, our customers have a hard time in making selections. Consider a delivery truck that runs on bio-fuel, in it is a farm to fork kind of menu and, as if not enough, our personnel will encourage you grow a personal home garden. This business venture will run on a double objective formulation: first, we aim to provide consumer satisfaction through timely and healthy deliveries, and second, to introduce a do-it-yourself kind of policy where customers will be encouraged to farm for their vegetables at home. The latter objective will not only save them a dollar on vegetable purchases but also ake care of a rather tiresome weekly visit to the farmers market (Cahill, 1997).

The food market is made up of consumers from all lifestyles differentiated in age, gender, social status, tastes, and preferences. The young will most likely go for trendy products therefore junk food is definitely their type. However, curiosity will find a place in such hearts making them samplers rather than stable customers. On the other hand, the old tend eat healthy but rather than buy, they prefer growing their own and will mostly be found in rural areas. This cuts a large chunk of them out of our target group. Lastly, we will compare consumer taste and preference based on social status. Let us assume that the urban lower class levels prefer quantity to quality, the inverse applying to the educated working counterparts. It follows that those in the working class will be more willing to buy according to freshness. As we go up to higher income bracket, the preference for quality will increase gradually kicking quantity aspect out of the market (Gupta, 2005).

Fueled with such an idea, the middle to upper class mainly made up of persons working in the formal sector is a force to target. This a group filled with consumers willing to place their dollar where quality consumption lies. They have such an influence that will spread to their family and friends through good and bad mouthing. Thus, they have the power to swing a business either way. Additionally, a vast number of them are practicing the vegetarian diet making them such an interesting market to explore. Considering the fact that they live in a world so busy with no time to shop, they are winners when it comes to being self confident in product selection. That is to say that they know how they want their tomatoes to look like. Although stuck up in the office the whole day, they tend to do their research online and over the lunch hour to compare provideers, making them informed (Jinnett and Pinson, 1996).

Armed with what our competitors in such an industry are willing to offer-not ruling out fast food stores- we have to come up with a strategic plan that will kill our weaknesses yet build on the strengths. We are already a step ahead considering the fact that green business is what will build ourselves a starting audience. In addition to this, customer subscriptions and discounting will encourage efficient deliveries and loyalty respectively (Gupta, 2005). This was sighted as a strategy because a majority of rival stores has fewer interactions with their consumers, a main reason for consumer exits. While the above appear concrete enough to take care of the competitor, weaknesses such the huge margin that exists between the times it takes to prepare an organically grown product and a fast food substitute are worrying. This can be taken care of either through merging technologies or encouraging early order placement.

The working urban generation is ever growing, diverse, as well as vibrant in nature for they are concerned for their future. Their ability to stick to common beliefs, expenditure attitudes, and predictable consumer behavior patterns is an important tool to consider when profiling them. Predictability is not a weakness but a tool for speculating the performance of the market in future years. For instance, their being trustworthy will mean that quality assurance, effectiveness, and sufficiency when making a delivery are three important tools to be used when attempting to keep such a valuable market (Friedmann, 2009).

We will conclude by saying that through this our objectives would have been fulfilled in one way or another. This will be measured in terms of business performance, that is, a growth means that the customer is happy, and he or she is good mouthing our venture (Gupta, 2005).

Buy custom Profile the Market essay paper cheap

← Marks and SpencerMarket Segment →

Related essays

Current status

0%

Satisfied customers

0

Active Writers

0

Operators Online

0

Preparing Orders

Close
 
 
Order now
X