Business Analysis - Research Paper Example

Business Analysis: W Hotel SF: Restaurant Department 3 a) Target Market A target market entails a collection s, towards which the organization or business has strived to direct its marketing efforts, and products or services (Cohen, 2005). An effective target market illustrates the initial and basic part of the marketing strategy. The success of the product in the target market depends on four major marketing mix variables; price, product, promotion and place (distribution). The main target market that the business in interested in is the middle income class of the society.

This is because they have adequate disposable income. The disposable income is used to purchase the services and products offered by the business. The Living Room Bar targets youthful professionals and students. This is because it provides entertainment which is favored by the youths in the American society; for instance, sports entertainment, hip hop music and pop music, and indoor games like pool tables, cards and darts. The Upstairs Drink Boutique is tailored to suit the needs of the mature professionals who form part of the middle income group in the American society.

The entertainment provided at the bar appeals to individuals who are mature in their personal and public life. The most popular attraction is the live jazz music entertainment that is provided all days of the week, starting evening. The Trace restaurant is appropriate for the middle income groups of the society. This is because of the fast foods products and evening dinners. Fast foods are mostly consumed during working hours by the professionals. The evening dinners are favored by mostly dating individuals and young married couples.

The customers are also allowed to request for entertainment of their choice during their dinner time. 3 b) Evidence of Target Market and ValuesThe marketing strategies of the business clearly illustrate the target market. The four strategies used by the business are favorable to the middle income individuals in the society. These strategies are; niche marketing, mass marketing, concentrated marketing, and differentiated marketing (Kurtz, 2010). The two bars apply differentiated marketing. This is because they provide different entertainment to satisfy the needs two classes of customers; the students or young professionals, and the mature customers.

Direct marketing is done by advertisements in social media pages of professionals. The business also does mass marketing through creating publicity in printed media outlets like magazines and newspapers. Concentrated marketing is done through posting entertainment information in the social media pages of students. The business has two main values which ensure success. Value identification ensures that the needs of the customers are effectively and efficiently realized (Aaker, 2000). These values are; creativity or innovation, and early customer engagement.

Early customer engagement enhances customer focus, hence customer satisfaction. Customer focus ensures that customers are given personalized services; for example, customers can request the chef to make meals using the menu that they have prepared. Entertainment is also personalized during dinner; customers can request for their favorite music during candle lit dinners when dating. Creativity and Innovation is part of the business. The restaurant uses the most unique and personalized menus, when preparing meals for customers.

The entertainment is varied, according to expected and requested customer needs. ReferencesAaker, J. (2000). "The Impact of Target Marketing." Journal of Consumer Psychology.Cohen, A. (2005). The Marketing Plan. NY: John Wiley & Sons.Kurtz, D. (2010). Contemporary Marketing. Mason: South-Western Cengage Learning.