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3 Squares is a company that has remained profitable across its operations because of suitable internal and external environment factors. These internal and external factors have enabled the company to effectively identify market opportunities and capitalize on them to become one of the profitable meal delivery service for seniors. Based on the findings of a SWOT analysis, one of the historical factors that have contributed to change in the company's market segment is the changing demographics of modern populations. In the last few years, there has been a significant increase in the number of the elderly populations in developed countries, particularly the United States (Wiener & Tilly, 2002). Since the company focuses on delivery of meal services to seniors, the growth in the elderly population has contributed to change in the firm's market segment. This change has implied that the firm has a huge customer base because of the increase in the elderly. The company changed its market segment because the growth in the elderly population provided a growing market and opportunity in providing food delivery for seniors.The second historical factor that has contributed to 3 Squares' change in market segment is the increase in the number...
While the increase in the elderly population provides a growing market and opportunity to provide food delivery service, the industry is characterized by the increased presence of competitors. The findings of the SWOT analysis demonstrated that 3 Squares is facing intense competition from large multinational corporations in the food service industry. As a result of the intense competition, 3 Squares is forced to constantly examine and identify a suitable market segment for its products in order to remain competitive and profitable in the market. Therefore, the company engages in several initiatives to create its own niche in the target market as part of attempts to enhance its market share and competitive advantage.
Based on the results of PEST analysis, there are several factors that are likely to cause changes in the future operations of 3 Squares. While some of these factors are likely to generate threats to the competitiveness and operations of the company, others will represent a market opportunity. One of these factors that is likely to represent a market opportunity for 3 Squares in the future is the social factor of health consciousness among the target market. According to Frue (2017), one of…
Environmental Scan of the Restaurant Industry PEST analysis remains a critical business tool essential in aiding the identification of macroeconomic factors that could affect the business. Specific measures encompassed in this tool are political, economic, social, and technological. Restaurants can improve their decision making processes and timing. PEST analysis is essential in tackling future challenges and highlight opportunities (Ho, 2014). Engaging this tool in analyzing the industry helps dissect the macroeconomic
3 Squares Restaurant and Sustainability The analysis on the 3 Square Restaurant shows a wide variation regarding their marketing potential as well as the challenges they encounter in the process. Critically looking at 3 Square Restaurant, the business has the biggest potential to do great because of the strategies that the top management has instituted (Dimitri, & Oberholtzer, 2009). The implementation of the market segmentation is what has catapulted it to
New York Real Estate and Office Markets NEW YORK CITY OFFICE MARKET New York is one of the premiere metropolitan areas of the world, exerting a significant impact on global commerce, finance, media, art, fashion, research, technology, education, and entertainment. The home of the United Nations Headquarters, New York City is an important center for international affairs and is widely deemed the cultural capital of the world. With its unmatched scope of
Segmentation -- Barcelona Travel Market segmentation is a technique that groups consumers with similar needs and common buying behaviors into segments. These segments become the basis for targeted marketing, which is a more efficient and effective method of marketing than advertising to the masses (Epetimehin, 2011). A feature of market segmentation is the creation of consumer personas or profiles. Consumer personas are pegged to distinct market segments identified through the segmentation
The process would then need to continue so that the changes that can be seen in the environment can also affect the changes in entry strategies. Environmental factors, economic factors, political/legal factors, social/cultural factors and also technological factors should all be considered. The legal factors that need to be addressed include issues in employee law, monopolies and mergers legislation, environmental protection laws, and wider issues such as foreign trade regulations.
2. Products/Merchandise The target store included various types of merchandise, such as electronics, music and video (DVDs and CDs), beauty products, clothing and shoes and automotive parts. Additionally, the target stores also included a food department, mainly with non-perishable items. There are two main factors differentiating the target store from the Wal-Mart store previously analyzed, in terms of products. First of all, the Wal-Mart store did not have a food department, residing