Market analysis refers to qualitative and quantitative market assessment. It considers essential elements such as the size of the market in value and volume, segmentations and buying patterns, competition and barriers to market entry. Marketing analysis is essential in the process of business entering a new market. The purpose of this paper is to carry out a market analysis for the Bluefish restaurant.
Body
The Bluefish restaurant is located in Arlington in Texas. According to the United States census bureau, Arlington covers an estimated area of 258 square kilometres with an approximate population of 398,112. An effective marketing strategy will be critical in creating awareness. Bluefish restaurant will apply various marketing strategies to reach its potential clients. Many of the college students and other Bluefish target customers have access to the internet and various social media sites (Chaffey & Ellis, 2019) . Bluefish restaurant will use Facebook and other social media networks to market its products and the services we offer. The restaurant will post images of the various delicacies offered on its social media platforms and encourage the employees and other people of goodwill to share the products online. Many competitors in the area have not adopted social media technology in making advertisements. Bluefish will take the strategy to target young people and many other people who have access to the internet.
Delegate your assignment to our experts and they will do the rest.
Bluefish will target the students from the two colleges nearby and the people from the local community. The restaurant will make a conducive environment for the students to have fun while enjoying food and drinks. Bluefish restaurant will target people who enjoy sports. There will be UHD screens to air various live sports across the world, including football, hockey, volleyball, basketball, among others. For clients who will visit the restaurant with their children, the children will be offered different sorts of snacks and other fancies. Bluefish will provide an ideal venue for holding birthday for their clients. Bluefish restaurant clients will receive a great customer service from our sales representatives (Kingsnorth, 2019) .
The bluefish marketing mix will give guarantee in four essential elements: the place, promotion, price and the product. A marketing mix will give the restaurant managers insights into the various distinctive features of the products offered and opportunities available to improve the products and the services. Bluefish restaurant will offer various cuisine specials to its clients. They will be important in attracting clients from different income groups and various races. Bluefish restaurant will apply a skimming strategy in pricing. The price of foods and drinks will be below the market price to attract new clients. The prices will rise as the customers realize the value of the products offered at the restaurant.
Promotions will be essential in Bluefish restaurant. It is through a promotion that Bluefish restaurant will attract many potential clients. Bluefish will deploy a team of sales associates who will assist the clients by assessing their needs and helping them to find the best service or products they require (Massingham & Pomering, 2017) . There will be a budget to cater for promotion expenses. Bluefish will invite renown artists fo live music and art performances. The restaurant sales staff will take this advantage to demonstrate the various services offered by the restaurant through interactions with attendees. Bluefish will apply effective distribution mechanisms to get the services to the customers. The Bluefish restaurant will offer outside catering services. The restaurant will use the sales staff to get the products to the customers who are close to the restaurant.
Conclusion
Bluefish restaurant is strategically located. Its location has adequate space for future expansion. The area has a high population that the restaurant can target to maximise its sales. Bluefish restaurant offers unique products which will attract many potential clients to the restaurant. High quality of customer service will be critical in retaining customers as well as attracting new clients.
References
Chaffey, D., & Ellis-Chadwick, F. (2019). Digital marketing . Pearson UK.
Kingsnorth, S. (2019). Digital marketing strategy: an integrated approach to online marketing . Kogan Page Publishers.
Massingham, P. R., & Pomering, A. A. (2017). Introducing Knowledge Management to the Marketing Mix.
