Wendy’s has the following market segments: millennials and young professionals who see Wendy’s as a dinner or lunch option. The first market segment is millennials, who are consumers between the ages of 25 and 40 years old (Bollani, Bonadonna, & Peira, 2019). In terms of psychographic characteristics, Wendy’s has a distinct voice in the way this brand manages its social media accounts, which appeals to the millennials who use social media and prefer a non-formal approach to a conversation. Geographically, this segment involves people living across the United States where Wendy’s restaurants are located. From a behavioral perspective, this consumer segment goes to Wendy’s because they rarely cook at home and use fast-food restaurants as their main food choice. This market segment is valid for Wendy’s because the restaurant chain offers affordable food options, and the dishes are prepared fast, allowing the consumer to save time and money. The millennials are currently at the beginning of their career paths. Hence their income prompts them to choose affordable restaurants.
The second segment is young professionals who live in big cities. Psychographically, these individuals are driven to build careers, and they choose Wendy’s to save time and not have to cook at home. Geographically they live in urban areas with high population density, and demographically these are people between the ages of 20 and 30. Behaviorally, this segment values the access to the location, and for example, the restaurant should be within walking distance from their work or home (Dobrev & Merluzzi, 2017). This is a good market segment for Wendy’s because these young professionals choose to eat at restraint most of the time, providing the chain with a consistent string of revenue.
Bollani, L., Bonadonna, A., & Peira, G. (2019). The millennials’ concept of sustainability in the food sector. Sustainability, 11(10), 2984.
Dobrev, S., & Merluzzi, J. (2017). Stayers versus movers: Social capital and early career imprinting among young professionals. Journal of Organizational Behavior, 39(1), 67-81.