Marketing Analysis Essay Example | Topics and Well Written Essays - 1000 words

Marketing Analysis - Essay Example It also identifies the key features of the different elements of the marketing mix for the restaurant. The UK pizza and pasta restaurants market has significantly developed over the last decade, with new entrants every successive year. According to Hall (2005), the sector has accomplished significant growth which is demonstrated by the current annual sales of  £2 billion. The full potential of this market has not been achieved and therefore it presents an important opportunity for investment. The market is developing through a two tire chain whereby one chain comprises full service restaurants focused on high end products while the other is based on low cost products sold in casual dining and small takeaway outlets that also deliver packed products to clients. The market trends indicate a tendency for consumers to find it convenience to eat out rather than waste time preparing meals, which has also increased takeaway sales. Sporting events also significantly contribute to the takeaway pizza and pasta sales where people congregate to watch games such as the European premier league at home. Younger consumers are the majority in the pizza and pasta market. Constant innovations in the market leading to the development of new packages in the menu and price promotions are positively influencing growth in the pizza and pasta restaurant market (Cagan & Vogel, 2001). Targeting is a critical aspect of marketing whereby the entrepreneur identifies potential consumers that the business can effectively accomplish its objectives. Hall (2005) notes that youth are an important target in the pizza and pasta market as evidence shows they are the majority among consumers of fast foods. New entrepreneurs in the market can effectively target households with young children, university students and emerging professionals. Lewis (2011) also highlights middle and high income households as an important target for medium to high end products. This consumer segment