Posted: June 6th, 2022

What is Marketing segmentation? What is a competitive set and why is it important to evaluate?

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Assignment Instructions
Imagine that you were hired as the new manager of your favorite local restaurant. Part of the owner’s directive to you is that he wants you to revamp the restaurant’s marketing efforts since the previous manager paid very little attention to it. You will need to complete a market analysis and submit a report of your findings to the owner before proceeding to the next step.
Requirements
For this assignment, you will provide a brief overview of the market in which your favorite restaurant sits. You will: (a) define the 4 Ps’s of the business (b) it’s competitive set, and (c)the market segments that it currently attracts. In a 500 word paper, be sure to clearly communicate the restaurant’s position. Also provide answers to the following questions:
What is Marketing segmentation? What is a competitive set and why is it important to evaluate?
What changes would you recommend to the restaurant’s current market segments and briefly explain why changes are needed and how it will affect business. Be sure to follow APA formatting rules, including using a title page and reference page and use in-text citations.

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