BSBMKG401B

PROFILE THE MARKET

ASSESSMENT 1

Siwaporn Upachar
BIC02565

Profiling the Market – Marketing Strategy

BASSTHEQUE NIGHTCLUB (MELBOURNE CBD, 3000)

Part 1 – Segmenting the Market

The concept and management of Basstheque Nightclub has been well received, and has been offered key placement at the center of Melbourne’s CBD. The Center's planners having met the Nightclub's management and have reviewed the concept. They have indicated that the Nightclub is "exactly" what they were looking for and wish to place it nearby the iconic Melbourne Central.
The Nightclub will be a 10,000 square foot unit, which will also house the company's corporate business office. The dance club and bar will accommodate 750 people. With Melbourne’s rapidly growing population, with an increasing plethora of international visitors and students, the variety of the Nightclub from across the country would create mass appeal for all of the Nightclub's customers. The store will be equipped with state- of-the-art audio and video systems like none other found in Melbourne. It will serve the need for a true nightclub in Melbourne’s CBD. The general appearance will be clean, open, and pleasing to the customer, with a concept of a Russian palace interior. The demographics are favorable, with minimal competition from other dance- themed venues and bars.

Part 2 – Identify your target market
We see the Nightclub as appealing to three major market segments. Fortunately, the long, late night hours of operation help the Nightclub lend itself to multiple segment appeal. Our market segmentation scheme allows some room for estimates and nonspecific definitions.
College Students: The closeness Basstheque to various colleges and universities will help the resort attract students in and around the Metropolis area. The students will utilize the facility to hang out, spend vacation