Fast food was everyone’s favorite hangout in the weekdays or even during the weekends but However from the past couple of years changing habits to older generation, people within the age group of 38- 60 and specially younger adults 23-37 or what we like to call Millennials have been much more focused on their health and eating habits compared to how it used to be for the people within this age so Wendy’s took up to analyze a number of factors to analyze the target market .
Increase/Decrease in Quarterly Sales – The quarterly sales report is reflected as a performance report card in Wendy’s they take it seriously and learn from it. A lot of time when Wendy’s wasn’t doing well and it got reflected in these quarterly sales report and Wendy’s carefully scrutinized and eliminated the reasons behind the decline of sales. One such incident was when it promoted a burger with smaller bun and larger patty the customers did not accept the concept and Wendy’s immediately stopped the promotion and concentrated in gaining back the customers.
Limited Period Offers- The limited period offers have become like a Heritage for Wendy’s and Wendy’s will continue to have these offers because these let them decide who are they major customer, what and what not are their demands. All it helps them gather information about the popularity and demand of the product in the market. Also, it acts as a tool for target market analysis.
Qualitative Customer Research- Major observations and research done on customers behavior, ordering pattern what the customer usually orders in store or through take away and deliveries and how they react on the current promotion and offers helps Wendy’s analyze its target market.
Target Market Profile
Millennials – The millennials are major target audience for Wendy’s and they are currently concentrating on getting back these customers as they have the highest purchasing power in the market but currently due the lifestyles and change in eating habits are shifting away from Fast food joints like Wendy’s. Wendy’s marketing strategies, promotion and advertisement would do everything to capture the most of the millennials and also to influence in their eating patterns. Wendy’s are using a lot of electronic messages and promotions on the social networking sites to attract the highly tech savvy Millennials.
Generation Z – The teenagers and people in their early twenties are already a dominant part of the Wendy’s target market. Due to major socializing habits lifestyles and love of fast food. The high school and university goers below the age 24 have been the major customers for Wendy’s. They need to continue to hold this share of their target audience.
Baby boomers- However due to the age, major health consciousness and preferably less aptitudes for socializing the baby boomers are not much of the target but however Wendy’s use all possible strategies and marketing to capture this target audience because their income or savings are higher and they tend to spend a lot consciously on the eating patterns.