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LaCasitaRestaurantanswer.docxRunning head: LA CASITA RESTAURANT 1
LA CASITA RESTAURANT 4
La Casita Restaurant
· Established business in Yucca Valley
Customer Analysis
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Total Market Size
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Target Market trends growth/shrinkage
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Market Potential and realistic future forecast
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Barriers to entry such as technology, qualified employees, high startup costs
Answer:
La Casita is one of the restaurant businesses running in Yucca Valley in the food and beverages industry. Established in Yucca Valley, the restaurant offers delicious Mexican food. Over the years, La Casita has been successful in its business while dealing with a variety of clients. The success of the restaurant can be attributed to various factors.
One of the factors is advertisement, one of its marketing strategies. La Casita has made its brand known to people through online advertisement via its website https://lacasitafortmyers.com/, using attractive photos and content. Second, the restaurant has a good relationship with other neighboring restaurants in the area, giving an opportunity to share business knowledge for operational growth (Charter, 2018). One other success factor has been the business policy. Through policies, risks can be avoided while at the same time, establishing and maintaining good relationships with clients and people around (Hanna& Dodge, 2017). One of the policies at La Casita Restaurant is not giving discounts or take away. As such, debts are avoided and people are encouraged to visit, making use of services offered. This way, long and healthy relationships are maintained with customers while demand for in-house services increases. Lastly, the high start-up cost has been a problem for more entrants into the industry; thus little competition.
Analysis of the market reveals some important facts. The market environment is a very important factor in any kind of business (Charter, 2018). La Casita has a large market size, serving people from diverse cultures in the country. The large market size can be said to be due to the various convincing reviews that people have showered the restaurant with. Understanding the market served makes it easy for any business to forecast what its people’s demand will be. Through market analysis, La Casita has been able to understand its market potential and make a realistic forecast that has kept the restaurant on the upfront (Charter, 2018). Forecasting is important for determining future trends; if demand is likely to grow or shrink. For the company to remain at the top in the industry, it must employ better-advanced technology and train its workers as well as hiring qualified employees (Sullivan, 2017). Doing so will create a barrier to new entrants.
NEED CHANGE FORMAT TO :(just keyword)
(example)Psychographic Consumer Behavior:
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Personal activities
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Lower to middle class working adults.
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Various jobs from markets to corporations.
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Family man or women as well as single personas.
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Weekend activities
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Intramural sports
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Weekend getaways within city and state
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Reading
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Lounging
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Relaxing
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Watching television
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Group activities
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4.
Goes to meet friends for brunch or drinks.
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Joins a fitness class with friends.
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Work activities with co-workers, team-building.
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Volunteer work.
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Spending time with family.
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How time is spent
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Invested in work throughout the week.
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Weekends are spent alone, with family, and catching up with friends.
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Alone time (Reading, gardening, lounging, personal projects)
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Shopping
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References
Charter, M. (2017). Greener marketing: A responsible approach to business. Routledge.
Hanna, N., & Dodge, H. R. (2017). Pricing: policies and procedures. Macmillan International Higher Education.
La Casita (n.d). Retrieved from https://lacasitafortmyers.com/
Sullivan, J. (2017). Creating employee champions: How to drive business success through sustainability engagement training. Routledge.
