Marketing activities Essay Example

  • Category:
    Marketing
  • Document type:
    Assignment
  • Level:
    High School
  • Page:
    2
  • Words:
    1264

Assessment 1

Case study

Scenario:

You are the marketing manager of an organization of your choice, marketing a product of your choice. The CEO of your organization has asked you to produce a report detailing your marketing research.

Outline the following:

1. A brief description of:

  1. Your organization

My company is a fast-food marketing company with outlets in several countries around the globe. The company’s commands a globally reputable corporate brand as one of the leading fast food franchise multinational company ( Constantinides 409). It’s also commands a sizable market share in the fast food market in its home country and internationally. This includes a 37% market share in Australia’s fast food market, 38% share in United States market and 39% market share in Europe market.

  1. Your product

The company markets and sells all categories of fast food, which are ordered as breakfast, lunch, dinner, soft drinks, or special menus. The menus servings include fast food products like salad mix, burgers and sandwiches, snacks and sides, chicken and fish, desserts and shakes, and beverages ( Constantinides 413). Our fast food products are made from freshly sourced farm products. Its fast food menus are sold in restaurants strategically located in major cities in its home country and internationally. Besides offering various fast food menus, the company also provides free WiFi internet services to customers at our fast food restaurants. Our fast food menus are advertised through broadcast and print media, strategically located billboards, and sponsorship of local and international sporting events.

2. How the concept of marketing applies to the organization. (4 P`s)

The concept of 4P’s refers to an acronym of the 4 tools used in business marketing mix planning. These 4P’s include Product, Place, Price, and Promotion strategy.

Product strategy

Our company has heavily invested in research and development of new brands of fast food products to satisfy the nuanced tastes of customers. The company hence doesn’t offer mass customized menus in all its restaurants around the globe. Instead, we offer special type of menus commensurate with local or national food cultures. For instance, we have introduced a new breakfast menu for our fast food market in Australia that integrates sandwich, a toasted cheese, tomato juice and raisins in a move to satisfy the nuanced tastes of our customers pulverized by the usual breakfast menu ( Constantinides 421). For our customers in the United Kingdom we have introduced a new sandwich made from chicken in an attempt to offer a new, special and innovative taste to our customers pulverized by the usual bacon sandwich. Personally, I am tempted to book the next recent fright to United Kingdom to enjoy that delicious sandwich. Somebody can also do me a favor and import one for me. I would really appreciate. We have similarly introduced novel brands in our other fast food restaurants in Canada, Germany, and the United States.

Place strategy

Our fast food restaurants are strategically located in major cities around the world particularly in developed and emerging economies like Brazil, United Kingdom, South Africa, Russia, Germany, South Korea, United State, Canada, India, China, Taiwan, Malaysia, France, Singapore, and several other countries. The United States, Canada and United Kingdom restaurants are the largest in terms of market share generating over half of the company’s revenue.

Pricing strategy

Our company offers differently priced fast-food menus. These include low priced fast-food menus for the price that target the price sensitive segment of the fast-food market. We also have fast-food menus that are priced at a more competitive price than similar menus offered by our rivals. These competitively priced menus target middle class consumers who are economically incapable of buying premium fast-food menus despite their quality and novice tastes ( Constantinides 431). Finally, our company offers premium fast-food menus that target the quality and novice taste enthusiastic consumers represented by upper middle class and opulent customers.

Promotion

Our products are advertised online through our official website and in print and broadcast media. We also conduct various product promotion campaigns including roadshows and offering products at discounted prices during special occasions like Christmas.

3. Your marketing plan including relevant policies and procedures. (3 each for example return policy)

The company adopts different marketing strategy for different marketing environment around the globe. For instance, our marketing policy for developed market in Europe and North America is defined by price sensitive strategy due to the slowing down economy in those regions. On the contrary, our Chinese market dictates a quality strategized marketing policy in respect to its fast growing economy.

4. Identify the need for marketing activities

Marketing activities are necessary for preparation of marketing strategy. Marketing strategy involves making decision on the target market, which determines the kind of products as well as promotion strategy. Marketing activities also involve market promotion campaign, which involves making decision on the means of presenting the products to consumers. Lastly, marketing activities involves collecting marketing data from the consumer market in order to make informed decision on the products offered, product promotion strategy and the target market.

5. How you will investigate previous marketing activities for relevant information.

Information on previous marketing activities can be collected from sales inventories, which are catalogued in terms of total sales revenue, sales revenue for the various type of product offered by the company, and sales revenue from the various region or market segments. Market information can also be sampled from customer feedback, complement or complaint after interacting with our product.

6. Profile your market segment.

Our menus target the youthful and luxury segment of the fast-food market through promotion slogans like “I’m enjoying it”. To attract this category of consumers, our company partners with sports and music icons including pop superstars like Rihanna and Chris Brown, and football legend like Neymar and Lionel Messi. Besides partnering with music superstar and sports legend, our company has also invested in sports infrastructure like playground and stadium as part of our promotion strategy for attracting juvenile and elite consumers ( Constantinides 437). The sports infrastructure is emblazoned with our corporate brand logo that is conspicuously displayed.

7. The positioning and market mix for your target segment

Our products are strategically positioned in the youthful and elite segment through identification with youthful and globally infamous music and sports superstar. All of our company’s brand ambassadors are youths below 30 years of age. The brand ambassadors also have a large following from fans that are mainly drawn from youths.

8. Your desired outcome from your marketing activities

Our desired outcomes are to strategically position our fast-food restaurants at the elitist, quality and luxury end of the fast food market. We want to replace fast food giants like MacDonald as the leading fast food brand globally.

9. How will you analyze basic market information you already have

The basic market information is used for several business analysis needs including segmentation of the target market, projection of the size and growth of potential market and forecasting of market trends. Segmentation involves division of the fast food market into useful slices. This would help us to focus on specific media, decision criteria, market needs and pricing patterns in each one of the various market segments. The size of the market refers to the prospective number of customers, while market growth involves determining percentage change in the size of the market over time in terms of quantity as well as demographics. Market trends refer to changes in fast food industry in terms of products offering.

Work Cited

Constantinides, E. (2006). The Marketing Mix Revisited: Towards The 21st Century

Marketing. Journal of Marketing Management, 22(3/4), 407-438.