A DIFFERENT POSITION The restaurant industry has always been exceptionally competitive. whether a restaurant is using mass marketing or niche marketing to aract a certain market segment bariers to entry are low and differentiation becomes the name of the game. Often a well-known and respected restaurant reviewer can make or break a new restaurant in town. This was the case when Emily Goodrich opened Hot Tamales a high end restaurant that targeted corporate luncheons and Sine evening dining. The unique selling point was the subtle blend of fiery spices into most of their signature dishes Market research data indicate how customers perceive some of the restaurants in New Zealand's capital city. Restaurant Price Meaty Boys High Comalco Medium Medium Quality of Food Location Medium Low IB Business Management-Marketing 4.2: Marketing Planning: Exam Practice Question Train Medium Low Low Win Street Bistro Medium Medium Medium Hippopotamus High Medium High Hot Tamales High High High Logan Brown Medium Low High The Sugar Club Low LOW Low Two weeks after their grand opening. David Burton, Wellington's most renowned restaurant reviewer gave the restaurant a glowing five star review Hot Tamales never looked back. With a careful marketing strategy focussing on their target niche ond even more careful attention to menu items, highly skilled staff, a prime location and exceptional cooking, the restaurant has been a continued success Bookings are a must. Call +64 554 6600 next time you visit Wellington, New Zealand. Try booking under the name David Burton for even better servicel Source: www.BusinessManagement.com QUESTIONS: 25 MARKS. 45 MINUTES 1. Explain the difference between target markets and market segments [3 marks] 2. Construct a position map for the Welington restaurant market based on the information above. 16 marks] 3. Explain the benefits of position maps to the operators of both Hot Tamales and Logan Brown. [4 marks] 3. Evaluate how restaurants con differentiate themselves and their products from competitors. [10 marks]