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  • Subject Name : Marketing

Conducting a Resource Assessment

Market Segmentation

Abbotsford area is a fairly prosperous area in the inner-city suburb of Melbourne in Australia. Its one of the most prominent industrial areas and the per capita income is much higher than the rest of the country. As per the Australian bureau of Statistics, the number of businesses is growing each year and the populace is hardworking demographic that like to enjoy themselves over the weekend.

In this market analysis we have come up with the four targeted segments

  1. The businessman

these are the individuals who work all day. At the end of the week they want a restaurant that can help them relax or during the week they want a place that is impressive enough for his clientele lunch. The businessman is the biggest spender on tips and meals.

  1. The couples

one of the most frequent segments is that of couples. The fun, romantic vibe of the VIT café is extremely attractive to them and they are looking for a place where they can relax and make some memories. The café’s live music and contemporary food ideas are big motivators for this segment. The young crowd can also be extremely beneficial for the café’s repute and people could come here for networking and fraternisation.

  1. Families

Brunches on the weekend and picnics by the blackwood trail sound like the ideal way to enjoy the weekend where families can unwind and relax while creating beautiful memories by the café’s atmosphere. The Sunday buffets can be the biggest source of revenue for the restaurant and it can also help it create a nice reputation around these weekend parties and brunches.

  1. The tourist

Another most lucrative segment is that of the tourists who are looking for a relaxed, chilled put place that can help them absorb the farm meets luxury vibe without having to go too far. The festive mood around Sunday brunches, the contemporary meal designs, live music and the restaurant crowd is a big plus for them. They are big spenders and will help in creating an online presence for the café through their pictures and reviews.

Target Market Segment Strategy

Considering the young, active population of Abbotsford that has some amount of disposable income- the target market segment will be the young couples and the tourists. The wealthy image seekers and compulsive spenders will be the most targeted segments as they will be the one that will help in building the brand image. The café will focus on attracting the diverse clientele of people aged between 22-50 who are looking for a good time and will not mind spending money over the weekend.

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