Research about the Marketing 2022

RUNNING HEAD: MARKETING 0
MARKETING
FIVE GUYS

MARKETING 1
Table of Contents
Introduction......................................................................................................................................2
Ansoff Matrix: Product development..............................................................................................2
Inner capabilities..........................................................................................................................3
Market condition..........................................................................................................................4
Opportunity for growth................................................................................................................4
Segmentation, Targeting and Positioning (STP).............................................................................4
Segmentation................................................................................................................................5
Targeting......................................................................................................................................5
Positioning...................................................................................................................................5
Marketing Mix.................................................................................................................................6
Product.........................................................................................................................................7
Price.............................................................................................................................................7
Promotion.....................................................................................................................................7
Place.............................................................................................................................................8
Conclusion.......................................................................................................................................8
References........................................................................................................................................9

MARKETING 2
Introduction
Five Guys Enterprises is an American high quality restaurant chain; the focus of the company is
on French fries, hot dogs as well as hamburgers. The company was founded in the year 1983 in
Arlington, Virginia, United States. The headquarters of the company is situated in Lorton,
Virginia, it is in the food industry. In 2016, the company expanded its operations in 1,500
locations. The products offered by the company are milkshakes, hot dogs, hamburgers, French
fries as well as the soft drinks. The revenue earned by the company in the year 2016 was $831.95
million and the number of employees was 15,000 (Anon., 2019). It is considered as a luxury
brand because it is a high quality restaurant, which provides fresh food, and high-quality
ingredients, which are used by the company without chemical mixture, which makes it more
expensive as compared to other food chain restaurant. In this report, new product strategy is
selected to expand the business and Ansoff Matrix is used to know the reason of selecting the
new product. Further, in this report segmenting, targeting as well as positioning of new product
is analyzed and marketing mix is examined to provide the best strategy to increase the sale of
new product.
Ansoff Matrix: Product development
It is technique of strategic planning that provides the structure to assist as well as support senior
manager, administrator and to the marketer to plan the strategies for future development (Mason
et al., 2018). In this strategy company can only leads success, when it efficiently conduct the
research about the environment, needs of the customers and the market and the inner capabilities
of the company. In this, the company either makes modification in the existing product or
develops the new product to satisfy the customers (Anker, 2016).

MARKETING 3
Source: (Anker, 2016)
Five Guys can develop the new product in the existing market due to-
Inner capabilities
The inner capabilities of the company, includes, values because it focuses on taste, relaxation,
hygiene, quality and friendship while making decisions. The objective of the company is to serve
the superior product with high quality by using fresh lean beef and potatoes (Schlagwein & Hu,
2017). In the company executive and team members perform job, in each shift all work is done
like grill, bun as well as controlling of the quality. These capabilities help the company to
develop new product efficiently. The vision of the company is to sell superior quality burgers as
well as provide better services to the consumers, to fulfill this company focus on better quality
and cleanliness. The online marketing strategy used by Five Guys can also support the company
in promoting the new product, the company use Hootsuite’s geo targeting functionally, this