Identify their 2020 product mix and target market for a main stream Restaurant (before COVID) and write
Question:
Identify their 2020 product mix and target market for a main stream Restaurant (before COVID) and write this in the top-left box of the table. This shows where they had Market Penetration
Next, identify new products/services they added to their product mix targeted to the same audience. If they didn't add to their product mix, be creative and add what you think they should have done. Write these in the top-right box of the table (be specific). This represents their Product Development.
Next, identify the new target markets they pursued with their 2020 product mix (basically, same menu, new customer). If they didn't pursue new markets, be creative and add what you think they should have done. Write these in the bottom-left box of the table. This represents Market Development.
Essentials Of Marketing A Marketing Strategy Planning Approach
ISBN: 9780077861049
14th Edition
Authors: William Perreault, Jr., Joseph Cannon, E. Jerome McCarthy