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Your target market is the diners you aim to attract to the restaurant business.
They are people who are most likely to converge –buy what’s on the menu.
The target customer of any food business is a fragment of a much bigger picture –the dining market.
So, understanding and appealing to your best customers is of utmost importance.
You can make choices and decisions regarding your brand identity and feel lost in the crowd if you target everyone.
Instead, defining your target customer gives ambition, focus, and definiteness.
Setting up your target market
When defining the exact target market for the restaurant, three steps are to be followed:
Market distribution
As we know, the market is divided into distinct buyer groups requiring different products. There are multiple ways to segment the market based on variables. These are:
- Based on demographics (age, gender, occupation, household composition, etc.)
- Geographical (residence size, city, and province)
- Psychographic (regarding lifestyles, inconsiderate of demographics and geographics)
Define the target market.
Now, you assess the charisma of the segments and choose the one or more you aim to hit.
Overly simplified, the target market is the people most likely to enjoy your offerings.
Once you have analyzed the variables to identify customer segments, you have to calculate the size and importance of each one. Then you’ll be placing them under two categories; “Primary” and “Secondary.”
The Primary category individual will be those in their late 20s and early 30s, employed and earning somewhere between $45,000 – $55,000 annually.
On the other hand, Secondary individuals are between their 40s and 50s, employed and earning between $60,000 – $70,000 annually.
Product Positioning
Here, you’ll disclose the products’ association to the target market, depending on their needs and the available communication mediums. Be sure to opt for the channel that is well-known among your target market and is easily understandable.