Market Segment of 3 Squares Essay

Tags: market share pest analysis target market swot analysis

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3 Squares is a company that has remained profitable across its operations because of suitable internal and external environment factors. These internal and external factors have enabled the company to effectively identify market opportunities and capitalize on them to become one of the profitable meal delivery service for seniors. Based on the findings of a SWOT analysis, one of the historical factors that have contributed to change in the company's market segment is the changing demographics of modern populations. In the last few years, there has been a significant increase in the number of the elderly populations in developed countries, particularly the United States (Wiener & Tilly, 2002). Since the company focuses on delivery of meal services to seniors, the growth in the elderly population has contributed to change in the firm's market segment. This change has implied that the firm has a huge customer base because of the increase in the elderly. The company changed its market segment because the growth in the elderly population provided a growing market and opportunity in providing food delivery for seniors.



The second historical factor that has contributed to 3 Squares' change in market segment is the increase in the number of competitors in this sector.

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While the increase in the elderly population provides a growing market and opportunity to provide food delivery service, the industry is characterized by the increased presence of competitors. The findings of the SWOT analysis demonstrated that 3 Squares is facing intense competition from large multinational corporations in the food service industry. As a result of the intense competition, 3 Squares is forced to constantly examine and identify a suitable market segment for its products in order to remain competitive and profitable in the market. Therefore, the company engages in several initiatives to create its own niche in the target market as part of attempts to enhance its market share and competitive advantage.



Based on the results of PEST analysis, there are several factors that are likely to cause changes in the future operations of 3 Squares. While some of these factors are likely to generate threats to the competitiveness and operations of the company, others will represent a market opportunity. One of these factors that is likely to represent a market opportunity for 3 Squares in the future is the social factor of health consciousness among the target market. According to….....

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References

Frue, K. (2017, February 8). PEST Analysis Example for the Food Industry. Retrieved June 2, 2017, from http://pestleanalysis.com/pest-analysis-example-for-the-food-industry/

Wiener, J.M. & Tilly, J. (2002). Population Ageing in the United States of America: Implications for Public Programmes. International Journal of Epidemiology, 31(4), 776-781.

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