Restraunt Marketing Plan

Introduction This essay will provide insight into parts of the Marketing Plan for Galaxy Restaurant by offering information through market segmentation and target market analysis. I will identify the four criteria useful in market segmenting and apply them to the restraunt while explaining how target marketing is more clearly defined once a segmentation of the population has been conducted. Next I will include a competitive and industry analysis introducing the top four competitors as well as conducting a industry analysis to ensure the health of the restraunt industry locally currently and looking forward. Finally, I will provide a SWOT Analysis for the Galaxy Restraunt in order to understand the strengths, weaknesses, opportunities, and

Psychographic segmenting involves lifestyles, social class, and how individuals see themselves regardless of income or social status. People often make decisions based on personal values and opinions regardless of social status or lifestyles. For example, my mother in law would never go to eat at a restraunt that she felt was more interested in selling alcohol than food even if the food was great she would not give the restraunt a chance based on her personal

Nick's Spaghetti & Steak House opened in 1977 and has been a local favorite for 40 years, catering to locals through good service, good food, and good friendship. Nick's will be the largest threat as the two restaurants have similar mission and value statements with the same desired outcome being happy customers that return time and time again as well as recommending to other customers. Location for Nick's is the only drawback as they are located at Gloucester Point right at the bottom of the bridge, which is great as far as having traffic and visibility. However most people don't live at the point therefore once they go home, change and get ready to go out typically they stay in the middle to upper end of the county which is why The Galaxy Restaurant will be centrally