1. The target market is the market segment(s) on which the company focuses its m
ID: 465705 • Letter: 1
Question
1. The target market is the market segment(s) on which the company focuses its marketing efforts. Briefly describe the primary target market for fast food restaurants, and why that group seems to be the best target market for the products. 2. In your opinion, what affect does the socio-cultural environment have on the sales of automobiles? Provide a specific example to help explain your answer. 3. A competitive advantage means that a company has something unique or superior to that of the competition. Name your favorite restaurant and briefly describe its competitive advantage.
Explanation / Answer
The primary target market for fast food restaurants is college going students. This group is the best target market for the fast food restaurant for many reasons –
2. In your opinion, what affect does the socio-cultural environment have on the sales of automobiles? Provide a specific example to help explain your answer.
Socio-cultural variables such as population, social responsibility, cultural differences and the influence of consumer movement affects directly to the sales of automobiles. Lifestyle and preferences of people have great impact their choice of types of automobiles. For example in the countries of low per capita income, people generally prefer low budget cars and give preference to the cars with cheaper maintenance cost. Comfort is not high priority for them.
3. A competitive advantage means that a company has something unique or superior to that of the competition. Name your favorite restaurant and briefly describe its competitive advantage.
KFC (Kentucky Fried Chicken) a fast food restaurant chain
The competitive advantage of KFC is the ingredients they use for their recipes and it makes them unique. KFC has emphasizing that its chicken is different but still tender and tasty. That uniqueness has gained competitive advantage for them and established a high position in the consumer’s mind which is very difficult for other competitors to challenge.
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