Target Markets

Target Markets

LOCATION- MELBOURNE CENTRAL MALL

INTRODUCTION:

A target market involves breaking a market into segments and then concentrating your marketing efforts on one or a few key segments. The market you are is a category or group of people with common characteristics and buying habits.

It is critical that you first determine or clearly identify your primary market so that your energy and funds can be spent more efficiently. Because success depends on your being able to meet customers' needs and desires, you must know who your customers are , what they want, where they live and what they can afford.

The 3 most common types of market segmentation are:

• Geographic Segmentation- based on location, such as home addresses.

• Demographic segmentation- based on measurable statistics, such as age or income.

• Psychographic Segmentation- based on lifestyle preferences, such as being urban dwellers or pet lovers.

NON-FRANCHISE

FRANCHISE

BRIEF STABLISHMENT BACKGROUD:

stands for Kentucky fried chicken. It is a chain of fast food restaurants known mainly for its fried chicken. The company was founded by Colonel Harland Sanders in 1952.

KFC employs over 12 000 workers in Australia alone!

INFORMATION GATHERED ON MY TRIP TO MELBOURNE CENTRAL:

CUSTOMER PROFILE:

? The main age groups vary from teenagers to middle aged people. I noticed a lot of secondary school students as well as university students.

? There is an almost equal mix of both male and female.

? There are also quite a few parents with their children.

PRODUCT:

? KFC is most famous for its fried chicken( as the name, Kentucky Fried Chicken, indicates)

? It also offers a variety of other foods such as pies, burgers, salads, vegetables, desserts and meals for kids.

PRICING STRATEGY:

? The food is very affordable. It is cheap, which is why they attract a lot of young people.

? You can buy a burger for just $4.60 or a meal (includes burger, piece