Marketing Practices of Grilled Burger: Segmentation, Targeting, Positioning and Marketing Mix
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This report analyzes the marketing practices of Grilled Burger, including segmentation, targeting, positioning, and marketing mix. It discusses the product, pricing, distribution channels, and promotional communication and tools. The report also justifies the selected target market and provides recommendations for value creation.
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Executive summary Main aim of this report is to analysis the marking practices of a specific organization, with a concern on analyzing target market and purchasing behavior for specific organization. There will be certain relevant theory to show an understating of the model and their application. This report is based on the specific product that provides customer satisfaction by meet their demand. This report has created a new widget for the target customer. In this report, STP analysis will help the marketers to quickly reach key target customer to become main provider of widgets to the target market. Purpose of this report is to conduct marketing mix for the product so that marketer can understand what their service or product can offer to their customers. So it help the marketing in palling, developing and executing and effective marketing strategies by plan a successful product offering. Contents
Executive summary............................................................................................................................2 INTRODUCTION.............................................................................................................................4 Part 1..................................................................................................................................................5 Concept of the market segmentation and define three target market of Grilled Burger................5 Concept of the positioning and discuss grilled burger positioning strategy..................................6 Part 2..................................................................................................................................................7 Select one product with two of the target customer group............................................................7 Justification for the selected target market....................................................................................7 Discuss 4 ps of the marketing mix in particular group and how value can be created in each of marketing mix................................................................................................................................7 Recommendation..........................................................................................................................9 CONCLUSION................................................................................................................................11 REFERENCES................................................................................................................................12
INTRODUCTION Marketing is considered as a comprehensive term that includes all the resources and set of the activities essentially to direct and facilitate flow of the goods or services from the producer to customer. Businessman regards the marketing as a function of management that plan, promote and deliver the product to the customer or clients. The human efforts, management and finance constituted the special resources in marketing. A marketing start with an identification of the customer's wants or requirement and then satisfying these requirements by providing a good quality product or services. Modern concept of the marketing is customer oriented that is concerned with earning profit by providing customer satisfaction. First function of the marketing is to create a market or customers. The customers are most significant people in whole marketing process (Amin, 2021).They are the cause and purpose of all the marketing activities. Marketing is a creation and delivery of standard of living to society. Its definition catches a real spirit of the marketing procedure. It has customer oriented, this duly honors the concert of marketing that that indicate a shift from the product to consumer- orientation, i.e., meet customers desireand needs. It emphasizes major functions of the marketing, viz, satisfaction of social and customer demand for the material goods or services. Through marketing process,organizations create a value for the customers and build a string customer relationship so that they can capture a value form the customerin return.informationtechnologyandglobalizationhave increase thecustomer's expectation. They do not purchase brand or product, but a set of values or benefits. They expect the marketer to be concerned with their full satisfaction. In marketing, the marketing mix is a mixture of the numerous plans or idea which are followed by the marking representative on order to promote company's product and service (Batat, 2021). Efficient marking management is pre requisite for a successful business operation. Marketers association with customers continue even after the product's sale and this is called a relationship marketing. In this report the topic chosen is Grilled burger. In this report a product will be selected on the basis of which it will cover the concept of marketing segmentation and positioning, understanding of the concept's application, justification of that segmentation analysis, marketing mix of the selected product, understanding of the value creation of product and justification for the analysis and explanation.
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Part 1 Concept of the market segmentation and define three target market of Grilled Burger Market segmentation It is a process of segmented up the mass market into various group of the similar wants and needs. Market consist of customer and customer differ in one or more respect. They can be segmented based on demographic, geographic, psycho graphic and behavioral factors. Any of these variables can be undertake by the marketer to segment a market. Organization can design a separateproductandmarketingprogrampotentialbuyers.Inrelationtotherespective organization, the have segmented their market based on the demographic basis that include age, gender, income etc. Respective organization mainly forces on the age to segment the market (Cameron and et. al., 2022). As demographic segmentation, organization has divided its customer by youth, age. Respective organization has chosen this segmentation as it make it easy for them to obtain data. This segmentation help them to identify that which customers are most likely to make a purchase, that aid define their target market. With this segmentation, organization is better able to market direct to its target customer in a way that generate healthy customer response. It will lead to high revenue without increasing any expenses. By choosing this specific segmentation, organization will get more customer retention and loyalty. Through personalized marketing strategies organization can reach the customer on a more human level, that create a strong connection. When the customer are valued, then they are more likely to be repeat the customers(Walker, 2021). Another main reason to chose demographic segmentation is that it allow the organization to get more creativity and specific with the marketing. When company know exactly who is their audience is and what are their wants, then organization become able to clarify their message and other future advertising plan. It save the organizational resources, time and money. Targeting Asmarketsegmentationunveilthemarketsegmentopportunitiesfacingbythe organization, so now the organization has to evaluate different segment and decide that how many and which one to target(Ford and et. al., 2021).Development of the marking max that can then be directed at a specific unique segment. Organization need to choose the market segment which
they want to focus on and also put their future business strategy. In this, marketers faces various important decision including, what criteria they should be used to evaluate the market, which market segment is most valuable and how many marker to enter. The respective organization targeted its market base don three criteria including youth generation, urban area and health conscious. people Respective organization has target the health conscious people as they avoid the the the harmful food product and prefer to eat something healthy. Respective organization, had made its burger with certain specific ingredient like lean beef, poultry and bison so that people can enjoy its burger without any health risk. Aside from standard veggie burger, people try marinated or grilled portobello mushroom cap in bun. Another target market of the organization is Urban area as people in cities have high income rather than the rural ares(Gois and et. al., 2022).So in urban are, people can afford the different variety of burger that will be profitable for the business. Respective organization also has target the youth generation because nowadays, youth generation prefer the junk food over the traditional home cooked food and their choice has been attributed to a powerful marketing strategies of the organization. Concept of the positioning and discuss grilled burger positioning strategy Market positioning is a process of the communication a brand to the target customers in such a manner that can well recognize where it fits with the competing product(Trewern and et. al.,2021).Objective of the positioning is to connect with audience on personal level. It is final step in the Planning approach; segmentation, targeting and positioning, a framework for developing the marketing plans or setting objectives. The Grilled burger has mainly targeting the youth market. It position its market as serving great tastinghigh quality an affordable food. As compare with other rivals Grilled burger is targeting youth, urban and children, they has a different targeting customers. Respective organization , is also serving an affordable food, but serving the customer in different way, grilled burger promise its customer can HAVE IT YOUR WAY, customer can customize all the ingredients of their food. In relation to Grilled Burgers strategy, with an exception of a low cost strategy and limited set of product, it can reach a wide audience. When it come to market positioning, it is fundamentally a marketing strategy which pay more emphasis on creation of a perception of service, product and brand of unique image in customer's mine.
Part 2 Select one product with two of the target customer group The target customer group is refereed as target market which is group of customers that shares demographics which has been identified as most likely buyers of the company products and services. The target group involves the attributes such as age, income, education and geographic location. The increase in sales of the organisation helps in expanding target market internationally which allows company to reach at broader subset of target market in other regions of world. The product of burger is been selected which is loved by every person as it is easy to eat(Grimm and Malschinger, 2021).The burger comes in different varieties with different tastes as there is use of different veggies and sauces. The burger is kind of food which consists of fillings basically patty or ground meat, beef that is placed inside a sliced bun or bread roll. The burger which has first target market of Middle-age group between the 40 to 60 age. White collars which are those who work in office and individual baby-boomers which are members of demographically large generation born between the year of 1946 to 1964. The second target market is upper-middle class seniors with the age group of 65 to 75 years old. Justification for the selected target market This two target market is been selected in burger as they are reasonable price and affordable which can be purchased by anyone and providing delicious in taste. The burger is served in hotels, restaurant. The other reason to target this group was as burger is available everywhere which is easy to carry for the people and available from streets to remote corners of world. The people are made feel relieved by knowing that their favourite sandwich is founded in all corners of globe. The baby boomers are likely to spent significant amount of money on eating out and they aren't as tech savvy. It offers the simple menu which helps in attracting and targeting the new customers without alienating existing ones. Discuss 4 ps of the marketing mix in particular group and how value can be created in each of marketing mix. The marketing mix mainly cover 4 Ps including product, price, place and promotion. There are various marketing strategies like pricing approach, product innovation, promotion planning and many more(Sood, 2022).
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These business strategies help a brand in succeeding. Marketing mix of organization analyze the burger with marketing mix framework that cover mainly 4Ps including product, price, place and promotion. When it come to the value creation, respective organization fulfill the value creation and select its value, it perform the marketing by segment its customers and market, target the attractive segment and also positioning its brand accordingly. In relation to the Main element of the marketing mix are mentioned below: ï·Product- It represents a product and service which is design with the purpose to satisfy customer wants or needs. To market a product effectively, it is essential to identify that what differentiates to form other competing service or product(Lang,Beemer and Fernandez Gaviria, 2021).It is also very important to find out if other service pr product can be marketed in the conjunction with it. The burger as a product is fast food. It is a popular food product which is consumed commonly. Burger is used to define as a popular sandwich which is made from ground meats which are formed into a patty, cooked and then placed between two halves of the bun. In burger, there are various alternatives which do not include the meat such as ground vegetables. In relation ot the value creation, organization can add value in burger by adding some new feature like provide healthy ingredient in burger, increase speed of the online burger delivery. Burger has divided its all global operation in to three segments. It has established a reputed image in market and many organizations has developed alliance which has proven profitable and strategically sound. In order to maintain the expansion of burger, various organizations like McDonald, Burger kind and many more has been using a different franchising option. ï·Pricing- There are various pricing strategy adopted by the organisation (Polynskaya, 2021). In relation to the burger, its pricing may be comparable to the market demand and behaviour. With main competitors with other organisation, respective firm burger has focused on more in its taste and quality with an affordable price. The operational cost is another essential challenge to uphold the cost pricing strategy. In relation to value creation in pricing strategy, organisation should offer a right combination of the quality and excellent service at an affordable rate. This pricing policy has included redesigning an existing product to offer good quality for the given price and same quality for less. ï·Place or distribution channels-The burgers are easily available at any place like restaurant, street, and other place. This competent in marketing mix defined as a venue
which is used by the organisation to transact with the target customers(McKendry, 2022). Organisation uses various channel of distribution including Mobile app, restaurant and websiteforthedeliveries.Asidefromtherestaurant,customercanalsousethe organisational respective mobile app in order to access the coupons for the special offers. In relation to the value creation, organisation can add value by bridging major time, place and the possession gaps which separate the services and goods from those who would use them. ï·Promotion or promotional communication and tools-In marketing mix, promotion is that marketing tool which is used by the organisation to communicate with customers. In this, seller tries to influence or convince the customer to buy their product. Burger are promoted through various ways. When it come to value creation, the, organisation should promote their product like burger in such a way that create a positive customer experience. Companies need to adjust their marketing strategy by prioritize the quality over price. An organisation uses various means of the promotion including advertising, social media, magazine, television and many more (Peeroo and Mooznah Auleear Owodally, 2021). The promotional tools are defined as methods, resources and strategies that compel customer to buy any product or services. In relation to the burger, organisations use various the promotional tools to raise awareness of new product and increase sale of burger within market. Recommendation From the above analysis it is recommended to grilled burger it can attract larger group of customers by taking use of social media platforms, offering of online menus. The positioning strategy can be improved by offering quality product on the affordable prices. The brand message can be improved which can be made more effective and empathetic as customer personas in to be known. The marketing mix can be improved by having market research and product innovation as it helps in knowing exactly to whom is needed to deliver. It is recommended to that there should a product innovation in burger so that it can gain attention of more customers. Based on the above analysis,organisationneedtoadjustcertainoftheirstrategiesinorderotmaintainthe
competitiveness. Organisation can increase the service quality by improve the burger to address as healthy lifestyle trend
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CONCLUSION Form the above report it is concluded that by using the STP analysis, an organisation can identify their most profitable and valuable customer segment that create product and marketing communication which target the audience. It helps the organisation in creating engaging, a personalised marketing campaigns which convert the visitors to customer at high rate. Marketing segmentation, targeting and positioning are very crucial or useful tool in marketing is it helps the company to make their product successful. The STP is related with the market research in specific industry. This tool uses the information regarding current market size, potential customer, market share, a connection with customer base for specific product and customerâs purchasing decision process which collected from the market and marketing research to make a specific product successful. Thos report has discussed about the STP analysis or Marketing mix of Burger. Therefore, it is identified that burger is a well established food product in market. Organisation with the burger service has potential efficiency to innovate their operation of business for a long time period. Besides, it in marketing the marketing mix is another essential aspect. Organisation does not always utilize all the Ps but most of time they defiantly uses a mixture of some. It is analysed that importance of using main marketing mix such as product price, place and promotion and organisation become able to get success in the development of their product and growth or the business. Therefore, it is recommended that the organisation should create some value in their product and other strategy that helps them to attract more customers and establish a well know reputed image within marketplace efficiently.