406733ce-e298-4128-8fee-979ade8b6566

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School

Australian College of Trade *

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SITHKOP015

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Marketing

Date

Nov 24, 2024

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docx

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Uploaded by CommodoreValorShark9

Report: Market Trends and Target Markets for Green Tree Restaurant The Green Tree restaurant is a casual dining restaurant that has been performing well in Ascot Vale, an inner-city suburb in Melbourne, mainly catering to adults ranging from 25 to 45 years old. The restaurant has noticed a steady trend towards customers preferring healthier meal options and increasing requests for vegetarian menu options. The following is an evaluation of market trends and target markets for the restaurant. Customer Market: The restaurant has recorded a significant number of new customers in the last 3-4 months and has relied mainly upon regular customers. The restaurant owners have summarised customer feedback that shows a desire for a variety of Asian dishes that cover vegan and vegetarian options, fixed and affordable set menus, more seafood dishes and salads, and affordable breakfast and dinner buffet menus. Most customers feel that the dishes are not unique and are of smaller portions for the size. Customer Profile and Food Service Preferences: The current customer profile comprises predominantly middle-class customers with diverse cultural backgrounds, mainly European and Asian. Customers tend to spend no more than one and a half to two hours in the restaurant and usually order two courses, with only 20% ordering three courses. The current menu offers dishes from a wide variety of cuisines, including Malaysian, Chinese, Thai, Italian, and Greek, with prices ranging from $15 to $35. Current and Emerging Food Service Trends: Current food service trends suggest a preference for healthier meal options, including low-fat and low-sugar dishes, and increasing requests for vegetarian and vegan menu options. There is also a trend towards offering a more diverse range of Asian dishes. Emerging food service trends include a greater emphasis on local and sustainable produce, including seafood, and offering more gluten-free and plant-based options. Market Trends Evaluation: Moving the restaurant to a busier location like St Kilda or Elsternwick can increase business from locals and tourists. However, it is crucial to evaluate if the emerging market trends and customer preferences align with the organisational service style and cuisine. Offering affordable set menus and buffet menus, along with a more diverse range of Asian dishes and seafood dishes, can cater to the current and emerging customer preferences. Target Markets: Target markets for the restaurant include young professionals, tourists, and local families. Offering a diverse range of Asian dishes, vegetarian and vegan menu options, and affordable set menus can cater to young professionals and local families. Offering breakfast and dinner buffet menus can attract tourists, especially with a focus on seafood and gluten-free options. In conclusion, Green Tree Restaurant should consider the emerging food service trends and customer preferences in its new menu while moving to a busier location. By catering to the current and emerging customer preferences, Green Tree Restaurant can target young professionals, tourists, and local families and increase its market share in St Kilda or Elsternwick.

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