Market Analysis Competition Analysis

Market Analysis
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Market Analysis Summary
The main target market for the Highway Bridge Pizza Restaurant is people that seek for a family-friendly and comfortable space for dine-in Pizza. We also aspire to satisfy our second target clientele that desires pizza delivery services. The two segments overlap each other. Boston is a vibrant city majorly constituted of an ever-growing middle-class population of slightly over half a million. Majority of these people are small families of about five members or more. The Chicago state growth plan predicts that this population is expected to continually increase. This will be accompanied by the decrease in the number of people per household, implying that the need for more households is bound to increase in Boston. Being made up of families, there is a need for more family-oriented restaurants like Highway Bridge Pizza Restaurant.
Being on the highway and close to the petrol station, many residents and even visitors will easily identify Highway restaurant. Transit truck drivers will easily identify the eatery and go get some quick snacks while refueling. Native residents will also conveniently see and access the restaurant from the highway.
With the Boston population size expected to grow, at approximately 5% yearly, the opportunities to provide for the town communities and visitors will increase. Overall, the restaurant plans to operate like other restaurants, but in some instances, it will be open to providing catering services to schools, individuals, and corporate functions.

Market Segmentation
Neighborhoods in the Downtown Boston and its surroundings such as the Financial District and South Boston will be included in the market segmentation. Only residents from the highlighted parts and those within a 3-mile radius (120, 100 people/ 49, 000 households) within the city of Boston will be accorded delivery services. Almost 60% of the target clientele live in Downtown Boston, or around the stipulated radius. Our main target market includes individuals between the age of 20 and 54 who have active social lives and have families. Our market also takes into account the role played by children who comprise of about a third of the Boston population. Children often prefer pizza over other kinds of fast food and in many cases influence family nutrition matters. Studies show that 93% of the Americans consume pizza. Hence, if we sell one pizza for $20 per household we are bound to gain about $1200 in a month.
Table: Market analysis
Potential customers Growth 2018 2019 2020 CAGR
Children (0-19) 4% 30,421 31,640 32,910 4%
Adults (20-55) 4% 61,581 64,040 66,600 4%
Over 55 3% 26,773 27,685 28,620 3.5%
Total 3.80% 118,775 123,365 128,130 3.80%
Pie: Market analysis

Target Market Segment Strategy
We have not ruled out any kind of target groups in our target market description ADDIN CSL_CITATION { “citationItems” : [ { “id” : “ITEM-1”, “itemData” : { “DOI” : “10.1128/AEM.02270-06”, “ISBN” : “1471-2105”, “ISSN” : “07461739”, “PMID” : “2192287”, “abstract” : “Writing the Plan What goes in a business plan? The body can be divided into four distinct sections: 1) Description of the business 2) Marketing 3) Finances 4) Management Addenda should include an executive summary, supporting documents, and financial projections. Although there is no single formula for developing a business plan, some elements are common to all business plans. They are summarized in the following outline: Elements of a Business Plan 1. Cover sheet 2. Statement of purpose 3. Table of contents I. The Business A. Description of business B. Marketing C. Competition D. Operating procedures E. Personnel F. Business insurance II. Financial Data A. Loan applications B. Capital equipment and supply list C. Balance sheet D. Breakeven analysis E. Pro-forma income projections (profit & loss statements) Three-year summary Detail by month, first year Detail by quarters, second and third years Assumptions upon which projections were based F. Pro-forma cash flow III. Supporting Documents Copy of proposed lease or purchase agreement for building space Copy of licenses and other legal documents Copy of resumes of all principals Copies of letters of intent from suppliers, etc.”, “author” : [ { “dropping-particle” : “”, “family” : “Africa”, “given” : “South”, “non-dropping-particle” : “”, “parse-names” : false, “suffix” : “” } ], “container-title” : “Writing”, “id” : “ITEM-1”, “issued” : { “date-parts” : [ [ “2006” ] ] }, “page” : “1-27”, “title” : “Sample Business Plan”, “type” : “article-journal” }, “uris” : [ “http://www.mendeley.com/documents/?uuid=c32a9789-c854-4fc2-809b-bbf10cd4f1ae” ] } ], “mendeley” : { “formattedCitation” : “(Africa, 2006)”, “plainTextFormattedCitation” : “(Africa, 2006)”, “previouslyFormattedCitation” : “(Africa, 2006)” }, “properties” : { }, “schema” : “https://github.com/citation-style-language/schema/raw/master/csl-citation.json” }(Africa, 2006). This is because pizza is a delicacy for many people. Boston people have a busy schedule and value timely and exceptional service, accompanied with tasty food. It is, thus, our belief as Highway Bridge Pizza Restaurant to provide our clients with a family-friendly atmosphere, a value-based menu, and services. We also believe that we can beat off any competition within our area. Our competitors include Connie’s Pizza, Giordano’s Pizza Inn, Lou Malnati’s Pizzeria, Pequod’s Pizza, and Sarpino’s Pizzeria. Many of them are at least a mile from our restaurant and are no match to our customer service, fresh and yummy products, as well as our concepts and ideals.
Competition Analysis
The Highway Bridge Pizza Restaurant proposed has some well-established competitors. This is a strength for the restaurant because it means there is already an existing clientele traffic. The existing competitors are characterized by a casual themed menu and poor service delivery. Despite this fact, and our opposite ideals and concepts, we are in competition for a common customer base.
Notably, our prices are below those of our competitors, and we promise the highest quality of products and services. Our staff will endeavor to meet the key values of the organization; quality, simple, and quick. We also boast of modern store design that provides an ambient, warm, and family-friendly environment to our clients. Finally, our delivery services are nothing but exemplary.
Reference
ADDIN Mendeley Bibliography CSL_BIBLIOGRAPHY Africa, S. (2006). Sample Business Plan. Writing, 1–27. https://doi.org/10.1128/AEM.02270-06