General environment is comprised of the demographic segment, the economic segment, the political/legal segment, sociocultural segment, global segment and technological segment.
Demographic segment is split in to population size, age structure, geographic distribution, ethnic mix and income distribution. The small family owned Thai food restaurant located not too far away from my house has a great customer following. In St. Petersburg the demographic segment is diverse. In addition, the restaurant capitalizes on low prices and outstanding end product. Yelp reviews as a testament to such. All walks of life enjoy the food. The first question owners ask is if the desired food should be authentic or more modern Americanized version. Florida heavily relies on tourist industry, thus restaurants as such are ample and easy to find, nonetheless the owners of …show more content…
As such restaurant business has to only jump through some hoops. Cleanliness, licenses and inspections are some, but in comparison such obstacles are not as extensive thus making the dream of owning a restaurant a reality.
Sociocultural segment. More and more millennials demand different tastes and experiences. In the age of social media where information travels from one end of the world to another within seconds millennials are subjected to new possibilities of food experience. Thus the demand for different and authentic becomes more of a norm. people are not afraid to experiment after all with an average price of $7.00 not much is lost.
Technology segment. Owners have implemented multiple strategies in conjunction to delivering food hot within 30 min. Now a prospective patron could order food online, pay and receive the product within 30 min. Different payment processing option make it easy for patrons to pay for the food. In addition, owners analyzed the hours of the day that are important for business and effectively cut overhead of operations during the down time by closing the
Demographic segment is split in to population size, age structure, geographic distribution, ethnic mix and income distribution. The small family owned Thai food restaurant located not too far away from my house has a great customer following. In St. Petersburg the demographic segment is diverse. In addition, the restaurant capitalizes on low prices and outstanding end product. Yelp reviews as a testament to such. All walks of life enjoy the food. The first question owners ask is if the desired food should be authentic or more modern Americanized version. Florida heavily relies on tourist industry, thus restaurants as such are ample and easy to find, nonetheless the owners of …show more content…
As such restaurant business has to only jump through some hoops. Cleanliness, licenses and inspections are some, but in comparison such obstacles are not as extensive thus making the dream of owning a restaurant a reality.
Sociocultural segment. More and more millennials demand different tastes and experiences. In the age of social media where information travels from one end of the world to another within seconds millennials are subjected to new possibilities of food experience. Thus the demand for different and authentic becomes more of a norm. people are not afraid to experiment after all with an average price of $7.00 not much is lost.
Technology segment. Owners have implemented multiple strategies in conjunction to delivering food hot within 30 min. Now a prospective patron could order food online, pay and receive the product within 30 min. Different payment processing option make it easy for patrons to pay for the food. In addition, owners analyzed the hours of the day that are important for business and effectively cut overhead of operations during the down time by closing the