Thursday, October 24, 2019
MARKET ANALYSIS :: essays research papers
MARKET ANALYSIS Excalibur is faced with the exciting opportunity of being the first-mover in the restaurant sport bar market. The consistent popularity of female achievements, combined with the growing interest in female sports, has been proven to be a winning concept in other markets and will produce the same results in Atlanta. Market Segmentation We see Excalibur as appealing to three major market segments. Fortunately, the long, late night hours of operation will help Excalibur lend itself to multiple segment appeal. Our market segmentation scheme allows some room for estimates and nonspecific definitions. 1.     College Students--By creating an environment that is appealing to college students, we secure a natural progression between the student and the young professional. Through word of mouth, Excalibur expects an increase of five percent annually from this segment. 2.     Tourists and Business Travelers--More and more business and travelers and tourists are finding themselves in Atlanta every year as is made evident by the increased demand and subsequent expansion of the local airport. We plan to reach these people through direct marketing to local hotel patrons. We anticipate a 20% annual growth rate in this segment. As our relationships grow with the local hotels, so too will the word of mouth recommendations from the hotel staff as well as the patronizing of our sports bar by their families and friends. Our future plan is to publish a simple website in order to create awareness to any traveler who wants to take an advanced look at the club before their visit. 3.     Young Professionals--Due to our proximity to the downtown and midtown area, we must appeal to female adults. Whether it is a group of friends out to see a movie together or a woman who want to just go out and relax, these people need a place to eat/drink either before and/or after their movie. These customers will range in age from 27 to 40. Excalibur will appeal to this category by switching the tempo and entertainment to be more appealing to adults as it gets later into the evening. We also anticipate a 15% annual growth rate in tandem with the growth rate of Atlanta and through increased popularity. The following chart and table outline the target market segments for Excalibur, and include annual growth projections. Potential Customers      Growth      2002      2003      2004      2005      CAGR      Young Professionals      15%      151,800      174,570      200,756      230,869      15.00%      College Students      5%      105,000      110,250      115,763      121,551      5.00%      Tourists/Business Travelers      20%      120,000      144,000      172,800      207,360      20.
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