You have just been approached by a recent culinary graduate to partner in a business venture. The now "chof" 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. Two obvious "target markets are: A Young single adults, aged 19-29, Post secondary students/grads, Income $20k - $50k. Target size: 70,000 people B. Empty nest couples, aged 50-70, professionals nearing at retirement, Income $100k+, Target size: 110,000 people. 1. Discuss the advantages and disadvantages of both potential target markets in detail. (8 marks). Include a minimum of two advantages AND two disadvantages for each potential target market for full marks. 2. Choose ONE primary target market (A or B above) and describe the Marketing Mix (4 Ps) that you would suggest. Justify all decisions with sound reasoning referring to the target market. Be sure to discuss: Product (menu choices). Place (restaurant atmosphere and theme) Pricing Strategies and Tactics, and Communications (Promotion) Strategies Provide details and reasoning (12 marks) For full marks, for each of the 4Ps discuss a minimum of two different details with your reasoning as to why this would be importanteffective Product - what would the menu choices be? Why? Place what design, theme and atmosphere would you create for the target market? Why? Price - What would the overall pricing strategy be? Why? Provide actual suggested pricos Promotion - how would you communicate with the target market? Which media would you use and why? What would your primary message be