Marketing Plan Research Paper Example | Topics and Well Written Essays - 2000 words

Marketing Plan - Research Paper ExampleIt is quite profitable to erect a restaurant in the area where this industry is actually flourishing. Buenos Aires has a large tourist influx each year. Not only are the tourist influx, but there several business battalion who travel to this busy urban center every now and then. The main concern for the tourists and business people from unalike parts of the world is the forage that they leave be getting in the foreign country. The foodstuffing conception is basically for a restaurant that has to be opened in the busy city of Buenos Aires. The restaurant will be situated in the city of Buenos Aires and will win with the high-quality food. It will non only win with quality food but to a fault with a place that will be full of comfort. In a hospitality industry servicescape plays a major role. It is the ambience that attracts the customers. It is the servicescape that helps the come out market to relate to a particular restaurant or any other service industry. The new restaurant will be targeting the tourists and business people and also the locals. The target market is further discussed under the heading of the target market of the marketing plan. Market Segmentation For any industry, market segmentation is a really important aspect. It helps to throw a clear map of the target market and helps to trace out those segments that can provide with the supreme profits. Similarly for this restaurant market segmentation is done on the basis of profits. The target market has been segment into tourists, locals, business people, children, adults, old age and minorities from different ethnic backgrounds. The market segment of tourists, locals and business people provide with the highest profitability. Thus these market segments cook been targeted and are further discussed in the marketing plan. Target Market As mentioned earlier in the introduction and the market segmentation, the target market of the new restaurant wil l be the tourists and business people from all around the world who visit Buenos Aires. Business people do not mean that they will be businessmen but it means people who are visiting the city for some official or work purpose. The age segment that the restaurant will be targeting is 16 years and above. The restaurant will not cater to the children market. In addition to the tourists and the officials, the restaurant will also be targeting the locals. The question arises that how will the restaurant target such diverse market segments. The answer lies in the set up of the restaurant and the menu that it will serve. The menu will include a widely variety of dishes. These dishes will belong to different cuisines. The restaurant will basically serve the Chinese, Italian, Mexican and Lebanese cuisines. The restaurant will be partitioned according to the different cuisines that it will offer. In addition to this partition, each split portion will carry the respective theme. For example the part of the restaurant where Chinese is served will have a Chinese ambience and same goes for the other cuisines. This will give an exotic touch to the food and can also be the differentiation point for the restaurant. In order to serve the local target audience the restaurant will also provide with the local cuisines in addition to the world renowned cuisines. Localization The restaurant will focus on the local trends as well. It will incorporate local culture along with the international cultures on the basis of which