This paper will discuss phase II of the marketing plan for Wedo's Tacos. Phase II will indentify the target market and discuss segmentation criteria and the impact of the data on the target market. The paper will also describe the consumers and organizational buyers of Wedo's Tacos and the factors which influence purchasing decisions as well as discussing the impact on marketing strategies. Lastly the paper will analyze current competitors and define and discuss the competitive landscape of Wedo's Tacos.
The Target MarketThe target market is the second most important factor in any marketing plan. The target market will define the need of the consumer and target those needs as a group of individuals the organization wishes to appeal to. (Perreault & McCarthy, 2005)Wedo's Tacos will appeal to many people across a broad spectrum of age and ethnic backgrounds. The target market will be individuals and families between 20 and 50 years of age.
This group will be culturally mixed because the local area of Menifee as well as the southern California population is mixed both ethnically and culturally. Families in southern California are always on the go so this product will appeal to people with an active lifestyle who can call in for an order to go or come in and sit down or stand up at the stand up taco bar in a casual rustic atmosphere and have their tacos within minutes of arrival.
Market segmentation involves two steps, defining the broad market product, and segmenting the products to be target marketed. For Wedo's Tacos the broad market product is simply tacos. The product is then segmented to kinds of tacos and who they appeal to. For example, the Al Pastor tacos will be a central and southern Mexico style taco which is made up of marinated pork...