Market Analysis- Opening a Tapas Restaurant in Pearland Texas Research Proposal - 1

Market Analysis- Opening a Tapas Restaurant in Pearland Texas - Research Proposal Example â€Å"Pearland is on its way to becoming the next major employment center in the Houston region† (Living in Pearland par. 1). Thus, it transpires that the city offers a highly conducive environment for launching a new restaurant, which can operate well in this region due to several factors. The population growth in this town shows a high market potential of Tapas Restaurant. Pearland is near to Hobby Airport and therefore the restaurant can cater to tourists and business people who travel to this area. Pearland Park and restaurant is one of the main attractions of Pearland city. Besides, Pearland Art League can be another potential source of market for the restaurant as it invites several people round the year for many functions. These are the market potential in Pearland. The restaurant has competitors there such as Pear Tree, Santa Barbara Italian Restaurant and Busy Bee Cafà © etc. The potential target customer groups for Tapas Restaurant include the employees and visitors of Texas Medical Center, Johnson Space Center’s workers, visitors to Pearland Park and Hobby Airport etc. Besides, there are several well established families living in the area. Since there are no outlets of Tapas Restaurant in this region, Pearland City is a potential market for opening such a restaurant. This restaurant’s target customers are youth and upper middle class people. Target market identification involves the process of determining the group of potential clients from the inhabitants of a community, which may comprise several sections. Once this is done, the firm concerned has to make sure that they are in position of gratifying the desires and requirements of each section. Marketing aims, which add to the achievement of the general industry objectives should be recognized for all target markets. The objectives must be in quantitative language, should indicate the target market and must also point out the period within which the goals must be