You have just been approached by a recent culinary graduate to partner in a business venture. The new "chef" has a restaurant location in the St. Catharines downtown area that is ready for renovations and a new concept. The location has ample parking, a well-designed kitchen and a dining area that can be customized to any theme or style. Use of two distinct target markets has been proposed. 1. Consider the Business Environment for any restaurant. Discuss the potential impacts of: Demographics trends, Social/Cultural trends, and Technology trends. (7 marks) 2. Describe the decision process for a restaurant meal? You must include each step in the decision process with practical application to this situation. It is critical that you identify the key spots for the company to influence the decision process. (8 marks) 3. Consider the Young Single Adults Segment Profile below as the target market for the new restaurant. Young Single Adults: aged 19-29, Post secondary students/grads, Income $35k - $60k. Renters that live near to downtown area. Multi-cultural singles/couples (no children) that are highly social, heavy users of social media, online gaming and streaming. What are two advantages and two disadvantages of this group as a target market? (4 marks) 4. Provide a different target market profile that you would suggest as the target market for the new restaurant. (6 marks) 5. Consider the two target markets (Young Single Adults and the target you suggested above) and describe how the "Product" would be different for each target market and their wantseeds. Be sure to discuss: (10 marks) How would the restaurant look (atmosphere/theme) and what would the menu items (or options) be? You have just been approached by a recent culinary graduate to partner in a business venture. The new "chef" has a restaurant location in the St. Catharines downtown area that is ready for renovations and a new concept. The location has ample parking, a well-designed kitchen and a dining area that can be customized to any theme or style. Use of two distinct target markets has been proposed. 1. Consider the Business Environment for any restaurant. Discuss the potential impacts of: Demographics trends, Social/Cultural trends, and Technology trends. (7 marks) 2. Describe the decision process for a restaurant meal? You must include each step in the decision process with practical application to this situation. It is critical that you identify the key spots for the company to influence the decision process. (8 marks) 3. Consider the Young Single Adults Segment Profile below as the target market for the new restaurant. Young Single Adults: aged 19-29, Post secondary students/grads, Income $35k - $60k. Renters that live near to downtown area. Multi-cultural singles/couples (no children) that are highly social, heavy users of social media, online gaming and streaming. What are two advantages and two disadvantages of this group as a target market? (4 marks) 4. Provide a different target market profile that you would suggest as the target market for the new restaurant. (6 marks) 5. Consider the two target markets (Young Single Adults and the target you suggested above) and describe how the "Product" would be different for each target market and their wantseeds. Be sure to discuss: (10 marks) How would the restaurant look (atmosphere/theme) and what would the menu items (or options) be