Target market and competition for chinese restaurant - Essay Example

SCHOOL OF HOSPITALITY & TOURISM HOSPITALITY MANAGEMENT- HOTEL & RESTAURANT Menu Planning Analysis & Design HOS2220 F Project: Phase Last Name First Name Student # Student (1) Student (2) Student (3) Section # Due Date Name of restaurant Type of restaurant Due Date Menu Planning (HOS 2220): Project Template - PHASE I 3) Target Market: Demographics table & description1: Age Gender Language Ethnicity Description Average age is 36.6y, with 30-49y age group at around 34%. Almost 20% are below 14y.

Seniors make up around 11%. Females are around 51%; males 49% Ottawa has 62.6% English speaking and 15% French Speaking individuals Local-born Canadians are almost 75% of the population. Rest are foreign born including immigrants chiefly from UK, China, Lebanon, India and Iran Education Income Occupation Family Size Most of the population has a high school or equivalent degree. Most immigrants have a university degree. Average salary of Canadian born individuals is $37870; Salary of immigrants is averaged at $24810 (ottawa.ca). Predominantly employed by public sector.

Business people in small and medium sized sector. Private sector includes telecom, microelectronics, tourism and software development (ottawa.ca) In the city, average household size is 2.5 persons per home; in rural areas, the average is 3 persons per home. Target Market: The target market for our restaurant will be: Aged 30 and above, with focus on: a. Families, with at least one child b. Seniors (aged 65y+) Business owners Educated, with at least high school education Rural as well as urban residents Mid-level income English speaking Needs, life stage/lifestyle characteristics: Ottawa population is hard-working and educated.

They need enough information to make well-informed decisions about their purchases. Seniors and families with children want comfort as well as quality food. Business owners need a relaxing environment where they can bring clients also. They want healthier food options. Their needs are hygienic, healthy food options in a pleasant ambience that might include quick-service as well as fine dining. Your restaurant will attempt to meet these needs by: Top notch service, with focus on cleanliness and hygiene that is visible.

Assorted items on the menu to cater to different income groups and ages. Trained staff to answer questions about the menu, including cuisine and ingredients. Healthier food options including low-fat options and healthier drinks for seniors and families with children. 1st secondary market & Justification: Children below the age of 14 represent almost 20% of the overall population of Ottawa. Incorporating items and services that targets this group into the plan is justified because this group is significant and will translate into lifetime consumers as the group grows older.

2nd secondary market & Justification: French-speaking population in Ottawa is significant. Offering a menu and service in French will be attractive to this group of consumers and will incur only minimal additional cost. 4) Competition: Definition of direct competition: This type of competition is between firms that offer the same kind of product and service and are targeting the same consumer base. For a Chinese restaurant, other Chinese restaurants, offering similar cuisine, are direct competition.

Definition of indirect competition: When firms try to satisfy the same need through varying products and services, they are in indirect competition with each other. For a Chinese restaurant, indirect competition includes fast food chains, fine dining restaurants, different specialised cuisine restaurants including Indian, Thai, Mexican, Fish and Chips, etc. Name of Direct Competitor # 1: Yangtze Dining Lounge Comparison Factor # 1 F&B Selection Result Offers a wide variety of items that have been divided by cuisine type.

Includes beef, chicken, duck, sizzling, bean sprout options. Special dinner meals. Limited beverage. Competitor SO Good, Hing Lung, Yang Sheng My Restaurant Menu categorised by cuisine-type. Larger variety of beverages, including herbal teas. Comparison Factor # 2 Location Result Located in the heart of Chinatown, at Somerset Street Competitor So Good Restaurant My Restaurant Located at high traffic area Comparison Factor # 3 Business Experience Result With over 25 years of experience, the restaurant has an established customer base and business expertise Competitor My Restaurant Comparison Factor # 4 Takeout and delivery Result Offers customers takeout as well as delivery services (at $2) Competitor My Restaurant Comparison Factor # 5 Restaurant Timings Result Open everyday at 11AM to 11PM, except Friday (11AM to Midnight), Saturday (10AM to Midnight) and Sunday (10AM to 11:30PM) Competitor Yang Sheng My Restaurant Comparison Factor # 6 Specialized Cuisine Result The restaurant offers a variety of specialised Chinese food including Cantonese and Szechuan, along with Dim Sum Competitor SO Good, Hing Lung, Yang Sheng My Restaurant Specialized cuisine on the menu includes Szechuan, Cantonese and Mandarin.

Comparison Factor # 7 Catering service Result Includes catering weddings, birthdays, meetings, hotels, parties, etc. Competitor Yang Sheng My Restaurant Offers catering service, with advance booking of at least 24 hours. Comparison Factor # 8 F&B Pricing Result Competitive Competitor So Good, Hing Lung My Restaurant Will offer competitive, market penetrating pricing Additional Factor Night Snacks Result Special menu plan for night snacking. Competitor - My Restaurant Will offer late night menus Name of Direct Competitor # 2: Hing Lung Chinese Food Comparison Factor # 1 F&B Selection Result Special combo plates, good selection of popular soups, appetizers, pork, chicken, beef seafood, rice, noodles, chow mein, Chop suey and vegetable variety.

Limited drinks with only water and soft drinks. Family menu. Competitor SO Good, Hing Lung, Yang Sheng My Restaurant Combo meals instead of plates to include drink. Larger variety of drinks to include healthier options like juices. Comparison Factor # 2 F&B prices Result Combo plates available at $9.50. Individual items each separately listed. Competitor Yangtze, So Good My Restaurant Competitive pricing. Comparison Factor # 3 Specialized Cuisine Result The restaurant offers Cantonese, Mandarin and Szechuan cuisine Competitor SO Good, Hing Lung, Yang Sheng My Restaurant Divide menu by cuisine type for easier browsing.

Comparison Factor # 4 Service Result High quality, trained staff Competitor SO Good, Hing Lung, Yang Sheng My Restaurant Trained staff, with knowledge about products, cleanliness and customer service Comparison Factor # 5 Business Hours Result Opens after 2PM Wed-Fri. Close on Tuesday. Competitor Limited hours as compared to competition. My Restaurant Offering breakfast, lunch and dinner menus. Comparison Factor # 6 Delivery Result Offers delivery to 6KM distance areas Competitor SO Good, Hing Lung, Yang Sheng My Restaurant Offering delivery Comparison Factor # 7 Night Snacking Result N/A Competitor My Restaurant Comparison Factor # 8 Catering Result Events and hotels Competitor SO Good, Hing Lung, Yang Sheng My Restaurant Will offer topnotch catering service Additional Factor Result Competitor My Restaurant Name of Direct Competitor # 3: Yang Sheng Restaurant Comparison Factor # 1 F&B Selection Result Offers a wide variety.

Website offers pictures and categories for easy ordering. Competitor SO Good, Hing Lung, Yang Sheng My Restaurant Comparison Factor # 2 Prices Result Higher than competition Competitor SO Good, Hing Lung, Yang Sheng My Restaurant Competitive pricing Comparison Factor # 3 Business Hours Result Open at 11AM to midnight weekdays. On weekends, open till 1AM. Competitor Yangtze My Restaurant Will be open 7 days a week till 1AM (on weekends). Offering a breakfast menu also for early morning hours.

Comparison Factor # 4 Delivery Result Easy ordering. Delivery starts at 5:30PM to 11PM. Competitor SO Good, Hing Lung, Yang Sheng My Restaurant Will offer easy and quick delivery Comparison Factor # 5 Take out Result Good service Competitor SO Good, Hing Lung, Yang Sheng My Restaurant Offering take out Comparison Factor # 6 Chef Specials Result Special menus for customers Competitor - My Restaurant Offering daily specials/monthly menu updates Comparison Factor # 7 Online ordering made easy Result Can order online Competitor - My Restaurant Will include this option on website Comparison Factor # 8 Accepting major credit cards Result Easier payments from customers Competitor - My Restaurant Accepting all major cards.

Additional Factor Result Competitor My Restaurant List of Indirect Competition: 1. Keg Manor Steak House 2. Restaurant 18 3. Johnny Farina (Pizza place) 4. Vittoria Trattoria 5. ZenKitchen