![]() ![]() Some characteristics specific to demographic habits and their relation to dining are: Here’s everything you need to know about each category and some restaurant target market examples within each, so you can start to think about which ones resonate for your restaurant concept.ĭemographics include age/generation, gender, dwelling location (urban, suburban, rural), religion, and income. Pro tip: check out our full guide on writing a restaurant business plan Demographics, Psychographics and Behaviorĭemographics, psychographics, and behavior are the tools you’ll need to become familiar with to define your target market in the food business. Team: The people you employ should be representative of your target market. Marketing: Brand development, voice, messaging and promotion channels can’t be defined unless you know whom you’re talking to. Without this firm understanding, you’re shooting in the dark. Indirect competition means you share a target market, although your restaurant concepts may differ.Īdvantages, opportunities, challenges: You need to understand your target market to define how your restaurant will contribute to it. This is especially true for determining indirect competition, which can be less obvious. Market trends: Your target market will determine which trends you choose to jump on and which ones you don’t.Ĭompetition: Your target market is essential to defining your direct and indirect competition in your business plan. Location: Your location should be chosen based on where your target market is most likely to live, work, or play. Your target market will determine what you offer at your establishment, and it’s important you really ask yourself the question: will my target market want what I’m offering? Menu and services: Your menu and services are the reasons your target market will visit your restaurant. Mission statement: Your mission statement should be crafted to resonate with your target market, as it appears on all marketing and internal materials. What would your target market get from your customer experience that they couldn’t get anywhere else? Here’s how your target market will come through several sections in your business plan.Ĭoncept: The ambiance of your restaurant should be conceptualized based on the tastes of your target market. Before we describe how to define your target market using target market examples for a restaurant, you’ll need to know a little about how your target market will influence the development of your business plan. Your target market influences every section of your business plan. How Your Target Market Influences Your Business Plan Promotion: determine the most effective channels for reaching your target market online and in real life.Placement: decide where to set up your restaurant. ![]() Price: set a price based on profit margins, competitor pricing, and what your customer is willing to pay.Product: improve your product based on what customers want and need.In business, these goals are often expressed as “the four P’s”: Identify your indirect and direct competitors. ![]() ![]()
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