2: Target market
Methods used to identify the business’s target market:
The initial sales to open the business will be created by quarterly leaflet/ (‘green’ agenda) Menu drop (budgets of £2500) - generating approxiately 830 customer each time (drop) - in a radius of 1 km area surounding the the Business Unit in London N1; furthermore, a local advertising campaigns - using local media, such as, Tomson local would provide additional customers .
Notwithstanding, the following bespoke database will be used as a the company's main Market-Research-Tool to analysis the customer profiles and subsequently contact database-customer's to stimulate repeat business.
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The 1st year's Sales forecast extrapolated from the results of initial marketing initivities are outline below:
The Customer Behaviour Analysis of the venture is based on the stucture / profile of the database below:
Moreover, these profiles are linked to a map showing a selection of C.H.D.S's ACORN classification categories, groups and types.
Some of the revenue stream Weaknesses of the ventures Target Market have been already stated in Market Trends graph illustrated below:
However, the Strengths of the business venture is that the economic outlook for the Target Market is in growth and the area is ripe - when established during 1990 - for new fast-food products to enter the Home Delivery Market - such as, Chinese Food; and the graduate team setting-up the business have the professional approach to fully exploit the database technology supporting the development of market share - as outlined and consolidated below:
The above grid-map - based on the map below - will be used by the delivery bikers to determine where customers are in relation to the Home Delivery Unit (Grid Q:5) and as a Market Analysis Tool to ascertain how many customer with have in a particular grid reference i.e. each new customer has their particular grid reference enter onto their initial database entry and the database can sort its records according to the parameters outlined in the stated database profile structure.
Click hyperlink for full C.H.D.S Acorn behaviour profiles: C.H.D.S's classification categories, groups and types.
Some of the revenue stream Weaknesses of the ventures Target Market have been already stated in Market Trends graph illustrated below:
However, the Strengths of the business venture is that the economic outlook for the Target Market is in growth and the area is ripe - when established during 1990 - for new fast-food products to enter the Home Delivery Market - such as, Chinese Food; and the graduate team setting-up the business have the professional approach to fully exploit the database technology supporting the development of market share - as outlined and consolidated below:
The above map will be an essential component for Competitor Analysis i.e. to discover where the competitions are and discern whether their operation is a long-term threat to the survival of C.H.D.S Ltd.
The main competition are the major Pizze companies. However, in some ways they are complimentary to the business, in that, they have established the Home Delivery Market - 1980's-1990's - and their customers have now more choice with a Chinese Meal. The main factor to watch is to keep our Unit Meal Price & delivery time in line with them.
The next and more ubiquitous competition comes from the local family run Chinese Takeaways. This competition will be better on price, but will not be able to mount the Home Delivery Service to the degree of professionalism employed by C.H.D.S Ltd. C.H.D.S will continually erode this competition, by capturing their customer on C.H.D.S's database on cold, wet, dark-evenings.
Marketing contigency will be met by utlising the Post-Office mail-short service i.e. if the internal marketing campaign does not reach its targets C.H.D.S will enlist this service to boost sales.