Module 3 Marketing Plan Template

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Embry-Riddle Aeronautical University *

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Marketing

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Feb 20, 2024

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1 Marketing Plan: Template (Your business name should replace “Template”) Your Name Embry-Riddle Aeronautical University MKTG 311: Marketing Professor LaTrice R. Small Date Submitted Market Segmentation & Targeting

2 Rock n Roll Bar restaurant is an innovative business idea in the Pembroke Pines area, even though it offers fast food like the big brands Mcdonalds or Burger King; This comes with a different proposal as it provides both families and groups of friends to enjoy their food while watching a classic movie or listen to music from the 80's in a completely family atmosphere and open to the public, which is not only responsible for the sale of food but also offers a complementary value through this themed restaurant for entertainment, which I believe is essential and for the benefit of the consumer. The potential customers of Rock n' Roll Bar restaurant once analyzed factors of needs, preferences and consumer behaviors, will be young adults and adults (men and women) that are between 40 to 60 years old, who have enjoyed the music and style of the 80's and like to relive these moments and are looking for a different restaurant experience at the time of serving their food. The restaurant offers a fun and innovative way to enjoy fast food along with movies and music from the 80's. To further solidify its target market, Rock n' Roll Restaurant will use a combination of traditional and modern marketing tactics to reach customers who appreciate the restaurant's unique atmosphere. The key segments within this market will be, first of all, the demographic segmentation as (Shinde, 2016) mention this will slice the marketing on demographic variables like the age of the customer as well as generation based segmentation since potential consumers will belong to Generation X and finally the behavioral segmentation which will allow us to define in depth the needs, preferences and above all how to retain consumers . The segment in which the restaurant will be focused will be on age since it is a restaurant that It allows them to have a different option than usual where they can not only eat but also enjoy the entertainment of their generation. I consider that this segment is essential since apart from being

3 able to retain them in a better way through good service and price, they are the ones who have sufficient and stable income to be able to visit the establishment and enjoy the variety of products on the menu, generating higher income and a good position in the market. What problem does your product or service solve? Describe the total market for your solution: Who are potential customers? What are the key segments within this market? Identify and briefly describe 1-3 segments that this company serves. Which segment does this marketing plan focus on, and why? Why do you believe this segment will offer growth and profit opportunities? Market Positioning Map Product positioning plays a crucial part in your overall marketing strategy. Positioning allows focusing on a specific niche, target audience, or idea. With the help of positioning, your product or service can stand out in the competitive market. Apple is an example of outstanding product positioning. The company emphasizes product quality and performance. In some cases, Apple delays shipments to deliver truly high- quality products rather than sell more gadgets. This approach helped the tech giant build

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4 customers’ loyalty and trust. See the Apple Positioning Map below and develop one for your company.

5 References References go on a page alone. NOTHING else should be on the page with the references. You must have at least two references for this assignment. These are only examples of popular heading formats. It is your responsibility to use the APA Manual for proper formatting from different sources. Author’s last name, Initial(s). (Year of publication). Title of the book . Publisher. Author’s last name, Initial(s). (Year of publication). Title of the article. Title of Journal , Volume (Issue), Pages. Author’s last name, Initial(s). (Year, Month Day of publication). Title of the work . Website. https://URL Author’s last name, Initial(s). (Year of publication). Title of the article. Newspaper . https://URL Last name, Initial(s). [Channel]. (Year, Month Day of publication). Title of the video [Video]. Website. https://URL Organization. (Year of publication). Word. In Dictionary . Publisher. https://URL Reminder to Student: Remember to complete your Executive Summary at the beginning of this document. Also, be sure and remove all instructions, which are in italic typeface.

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