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Swot Analysis Of Target Market

750 Words3 Pages

CHAPTER 2
Market Potential
Market Synopsis WAFF is targeting the people going in Bonifacio Global City to experience different kinds of food. We will be located in Mercato Centrale in 7th street corner 25th street, because this place is where friends and family spend their time together and just enjoy the wide variety of food. Its concept is like a food hall where you can choose what you think will satisfy your craving. We chose this place because we offer a unique food concept that will catch the attention of our desired target market. Most of the people who go to Bonifacio Global City doesn’t mind controlling their budget when it comes to food. They already know that what they are after is a presentable food and something that is worth trying. …show more content…

Most of these foodies are of the age of 18 to 25 years old living in the metro. These people are mostly fresh graduates and newly employed people. We want to target these millennials as they are the ones who focus on aesthetic features of food and will be our way of introducing our business to other people These people are the ones who are adventurous enough to go to food bazaars and try unique food such as what we will be serving. Some may even offer to advertise our business through magazine and television features given that they are already working in popular companies. Waff:Waffle Bar also targets the Vegans whose population is getting bigger in the country. Mostly of the age of 25 to 40 years old. Using organic and dairy free products, we want to introduce this kind of lifestyle not only limited to the vegans. Our business wants to target these people since there are only a few competitors in the vegan industry. The community of Manila Vegans are very generous in advertising new vegan products in their Facebook group and this could be a way to advertise our business to them and will help us gain new …show more content…

These students are mostly of the age of 16 to 25 years old. Most of them are willing to try new products and are will to pay the price range of P100 to P150. These students will be our way to advertise our business as well since they are usually the ones spreading the word of a new business and posting photos and reviews on social media.
Market Research and Market Survey Our Market Research focused more on the college students and the foodies since based on our observations in food bazaars, they take up the biggest part of our target market. With this survey, we have gathered a total of 150 responses that will help in studying the feasibility of our product to our target market. We have conducted our market research through an online survey which consists of questions regarding their age, occupation, and their thoughts on our proposed products. We conducted this research to see how much people would be our target market and if we could breakeven during the food bazaars. With our market survey, we have gathered the following
Survey

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