Report on Target Market

                It is important to know that for food & restaurant industry; the segments can vary as per type of products & services being provided. For this target market plan, our product is fast food items. So, for this product range, there are different market segments to be targeted. The primary market segment is young adults as they like to eat fast food and junk food in their daily routine. The secondary market segment would be families as well as children. Looking at the products, which are offered in a fast food restaurant, it is obvious that given markets segments are very much considerable (Cleverism.com 2015). Our fast food company will follow the behavioral as well as psychographic market segmentation. Like the young people behavior is tilted towards fast food. Moreover, the lifestyle is associated with psychographic segment, like people with enough means like to visit fast food restaurants with their children. So, target market segments are very much correct for our fast food company. In short term, there is no need to change the market segments at all as they are most appropriate ones (Bhasin 2018)

 Target Market Profile

            The target market for our fast food restaurant has identified two key market segments, primary is young adults, and secondary is families with children. Both segments have been chosen on their profile. These two segments are growing ones in fast food industry, and competition of fast food companies is getting intense due to these growing customers base. The young adults behavior is very much suitable for fast food, because they like to hang out with friends, and enjoy fast food during their daily routine. The families with little kids also like to visit fast food chains due to their lifestyle. An urban family lifestyle is very much suitable for the fast food business. It is important to understand that each segment has its own characteristics, and they have their own priorities in choosing certain fast food products and companies. That’s why competition is tough and competitors have to be on their best to attract these valuable target market segments (Hanlon 2018)

References of Target Market

Bhasin, Hitesh. 2018. 4 types of Market segmentation and how to segment with them? Accessed October 14, 2018. https://www.marketing91.com/4-types-market-segmentation-segment/.

Cleverism.com. 2015. A Complete Guide to Market Segmentation. Accessed October 14, 2018. https://www.cleverism.com/complete-guide-to-market-segmentation/.

Hanlon, Annmarie. 2018. The Segmentation, Targeting and Positioning model. Accessed October 14, 2018. https://www.smartinsights.com/digital-marketing-strategy/customer-segmentation-targeting/segmentation-targeting-and-positioning/.