Millennial Consumer Behavior and Market Strategy Analysis Report

This research project examines the consumer behavior of millennials and develops a market strategy for The Crane Bar and Restaurant, aiming to increase its appeal to younger demographics and boost sales. The project addresses the overarching problem of the restaurant's struggle to attract millennials and become a trendy destination. The research explores millennials' definition of 'trendy,' their dining preferences, and their use of social media. The project poses research questions about millennial consumer behavior, effective market strategies, current trends, and the impact of social networks. The literature review includes keywords such as 'Consumer Behavior,' 'Market strategy,' and 'millennials.' The research aims to provide The Crane Bar with actionable insights to adapt its offerings and marketing efforts, ensuring relevance and success in the competitive restaurant market. The references include articles and books that provide the foundation for understanding consumer behavior and market strategy.

Research Project Details
Report title Consumer Behavior and Market Strategy
Industry Partner The Crane Bar and Restaurant
https://www.cranebar.com.au/
Research field Marketing
Overarching Problem My industry partner, which is a restaurant, is having trouble reaching out to younger folks in order to be
the trendy joint. Millennials are active and want affordable meals when they go out to eat, drink and make
merry. My research project will explore this group of people (millennials) and figure out their definition of
trendy. It is important to solve this problem so that the restaurant can adjust and be fashionable. Moreover,
their sales have been stagnant for a couple of years.
While there are likenesses crosswise overages or generations, there are likewise various clear contrasts.
For instance, twenty-year-old to thirty-year-old will probably need to post their drinking incidences on
social media. Moreover, such a gathering of customers is anxious to figure out cooking also they are
extremely drawn in with nourishment (Kim et al., 2013). Another essential knowledge is that when
twenty-year-old to thirty-year-old are baffled with a feast result, they are considerably less prone to
attempt this feast once more, which clearly influences their eating knowledge and recurrence of attempting
new meat formulas. Concerning cooking, albeit both twenty-year-old to thirty-year-old and non-recent
college grads demonstrate that their folks were persuasive in showing them to culinary skills, recent
college grads thought they are disposed to utilize sites and culinary TV shows to figure out how to prepare
food (Paul & Jerry, 2010).
Overarching Research
Aim
The aim of my research project is to decipher the current generation, popularly known as millennials and
why they prefer a particular restaurant. The outcome of this research is an effective and efficient market

strategy for The Crane Bar and Restaurant. There are currently almost 80 million twenty-year-old to thirty-
year-old individuals in the US, which represent 30% of the populace and incorporates around 3 million a
bigger number of individuals than the Baby Boomer age, recent college grads have turned into the
intended interest group for some ventures and brands, including restaurants.
Industry projections anticipate recent college grads talk of the biggest fragments in the following years.
Very nearly 69% of twenty-year-old to thirty-year-old say they go online first when they require data
concerning anything, especially nourishment. Thus, there is a huge probable impact for marketing
restaurant on social media.
Research Questions What consumer behavior is indicated by millennials?
Which is the most effective and efficient market strategy for a restaurant?
What overall trends affect these millennial’s lives at this point in time?
What is the possible effect of social networks (online & offline) in addition to brand societies on the
restaurant’s brand?
Literature Review;
keywords used for
literature search
Consumer Behavior, Market strategy, millennials, generation Y, Fashionable, Restaurant.
Literature Review:
name 2 relevant
articles
Gilbert A. Churchill, Jr. A Paradigm for Developing Better Measures of Marketing Constructs, Journal of
Marketing Research
Kindra Gordon. Marketing to Millennials, this generation is shaping future food trends and marketing
efforts. Here’s what the beef industry needs to know.
References

Kim MacKenzie, Sherrena Buckby, Helen Irvine, 2013. Business research in virtual worlds: possibilities and practicalities. Accounting, Auditing &
Accountability Journal, pp. 352-373.
Paul J. Peter and Jerry C. Olson, 2010. Consumer Behavior and Market Strategy. 9th ed. New York, NY: McGraw-Hill/Irwin.
Satish K. Mittal, Rajesh Pillania, 2014. Business Research in India. Journal of Management Development, pp. 68-74.