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Assignment Marketing and Communication

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Added on  2020-04-15

Assignment Marketing and Communication

   Added on 2020-04-15

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Marketing and communication: Subway Assignment
Assignment Marketing and Communication_1
1Task A1. Introduction 1.2 Overview of SubwayBased on the idea of selling submarine sandwiches the company has come a longway in establishing a worldwide brand. Peter Buck along with Fred DeLuca started thebusiness of selling fresh made submarine sandwiches which were prepared in a “madeto order” format. One of the most interesting facts about the company is that during theestablishment of the company Peter Buck was just 17 years old (Subway.com 2018).The first store was opened in Bridgeport, Connecticut. From the very beginning of theventure the company has been following the three core principles which have nowbecome a part of the organisation culture:Premium service to the customersHigh quality food at the most affordable priceEnsure low operating cost and to continuously improve in order to develop thebusiness (Subway.com 2018)Ever since with the help of these founding principles the company has come a longway in establishing a chain of restaurants all over the world. There are more than 4000locations. The future aspirations of the company are to continue with the core valuesand principles that have established the venture (Subway.com 2018).
Assignment Marketing and Communication_2
2The purpose of the assignment is to understand the dynamics of the market thatSubway operates in so that the company can take strategic decisions accordingly. Theassignment includes an analysis of the marketing strategies with the help of the conceptof marketing mix that Subway incorporated in the process of strategic decision. It alsoincludes the industry analysis of the company in order to understand the externalbusiness factors which impact the business. The task also includes recommendationthat the company can use following the analysis of the industry and the market.
Assignment Marketing and Communication_3
32. Evolution of Marketing (LO1)A. Market orientation is the business model which is followed by an organisationwhere the focus is on the customers. The changing needs and requirements of theconsumers are given precedence and decisions are made accordingly. The mostimportant tool that is used in this orientation model is market research, this is theprocess by which the company employees to research the market in order tounderstand the perspective of the customers and determine what they require (Murrayet al. 2011). The advantage of this process is that it creates a valuable relation with the customersas they feel connected with the company in the long run it helps the company createloyalty and trust (Kumar et al. 2011). On the other hand a disadvantage is that theprocess of conducting a market survey is an expensive investment, sometimes thecompany has resources to conduct the survey by themselves whereas there are timesthat the company have to hire third parties to do the survey (Kumar et al. 2011). Product orientation is the process by which the company takes decisions basedon the value of creating products with the lowest possible cost (Jayaram et al. 2012). Inorder to satisfy the demand for the product the goal of the company is to continuouslypush products of high quality at low price. The focus is on providing the people with highquality products in order to attract the customers (Jayaram et al. 2012). The advantage is that the company can build a reputation of providinggood quality products among the customers as well as other stakeholders (Jayaram etal. 2012). The disadvantage of the business model is during creating strategic decisions
Assignment Marketing and Communication_4

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