Market Survey

Chapter 2: Market SurveyMarket SurveyDefinition: detailed study of the people, the community and the physical location of the foodservice establishmentWill help to establish a foodservice operational concept that will meet the needs of the target marketFundamentals of Menu Planning 3rd edition. (McVety, Ware and Ware) John Wiley & Sons, Inc. © 2009Preliminary StepsPlanning should be done before money is invested. Preparing a market survey consists of two steps:Step 1: establish the style and type of foodservice operation or conceptStep 2: determine the community’s need for such a business establishmentFundamentals of Menu Planning 3rd edition. (McVety, Ware and Ware) John Wiley & Sons, Inc. © 2009Areas of Analysis: The CustomerFundamentals of Menu Planning 3rd edition. (McVety, Ware and Ware) John Wiley & Sons, Inc. © 2009Desired MarketMarket ClassificationsGenderAgeDisposable IncomeFood PreferencesSocial HabitsMost important element of a foodservice operation. Key factors to consider areAreas of Analysis: The Customer Cont’dEducationEthnicityOccupationArrival PatternsPreferred Days for Dining OutReligious OrientationFundamentals of Menu Planning 3rd edition. (McVety, Ware and Ware) John Wiley & Sons, Inc. © 2009Areas of Analysis: The CommunityThe geographic region, district, city or town from which the foodservice operation’s customers comeFundamentals of Menu Planning 3rd edition. (McVety, Ware and Ware) John Wiley & Sons, Inc. © 2009Growth rateAvailability of liquor licensesExistence of competitionPublic services providedRequirements of the state Board of HealthNumber of familiesPotential for advertisingOther Things to ConsiderZoningArea CharacteristicsPhysical CharacteristicsSize, Shape and CostsStreet and Traffic InformationSales GeneratorsVisibilityParkingSnow and Trash RemovalFundamentals of Menu Planning 3rd edition. (McVety, Ware and Ware) John Wiley & Sons, Inc. © 2009