Marketing Management: Theories, Concepts, and Strategies

This report provides an in-depth analysis of marketing management, including theories, concepts, and models. It explores the competitive environment and its impact on marketing decisions. The report also critically analyzes marketing situations and problems, assessing the organization's capacity to adapt to a dynamic and uncertain future. It concludes with the development of appropriate and actionable marketing strategies and tactics. The subject is Marketing Management, and the course code is 1. The document type is a comprehensive guide, and the assignment type is a report.

Marketing Management
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INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Theories, concepts and models for marketing........................................................................1
TASK 2............................................................................................................................................3
Examining the competitive environment and its impact on developing marketing decisions3
TASK 3............................................................................................................................................4
Critically analyse marketing situations and problems facing organisations and assess its
capacity to adapt to a dynamic and uncertain future..............................................................4
TASK 4............................................................................................................................................7
Develop, recommend and justify, appropriate and actionable marketing strategies and tactics
to an organisational scenario..................................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9
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INTRODUCTION
Marketing management is the process of performing all managerial function of marketing
as it deals with identification of all potential market opportunity and also motive them to
implement best strategic decision. With the adoption of such aspects within business function
enable establishment to meet all current and emerging competition in order to gain competitive
advantage among competitors (Anusha, 2016). Along with this, its primal aim is to provide
increased level of customer satisfaction by delivering best quality of product or service within
competing industry. In context of this report, Chick-fil-a company has been regarded as it is a
largest fast food chain in UK market and it is founded in the year of 1946. However, Chick-fil-a
decides to explore its market division to UK industry to improving the overall productivity of
company. In this report, it comprises different theories, models related to marketing, analysing
the marketing situation and competitive environment. Finally, implication of suitable marketing
strategies to enhance the profit margin ratio within prescribed time duration.
TASK 1
Theories, concepts and models for marketing
The present era of business environment is becoming highly competitive and challenging
that directly influence over organisation decision making procedure in terms of attaining
sustainable growth and development. In this regard, business environment is a combination of
internal and external factors like political, economical, social and many more. With an intent of
accomplishing organisational goal or objective in an improved manner. In relation to Chick-fila-
a, the implication of suitable concepts or models help company to enlarge its market share or size
in an amended manner (Fernandes and Brandão, 2016). PESTLE analysis is an important tool
which help organisation to examine external macro factors and also empower them to take
corrective of action action with an aim of improving the volume of sales among rivalries. The
explanation of PESTLE analysis in context of Chich-fil-a restaurant are as discussed below:
Political: This factor encompasses government rules, regulation, policies, procedures,
political stability and so on which influence company's decision making process. IN regard of
Chick-fila-a restaurant, they can get negative impact with the commencement of Brexit over its
productivity ratio which recently took place in UK industry as restaurant desire to franchise
within United Kingdom. Henceforth, in order to cope up with such negative impact, Chick-fila-a
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restaurant make an attempt to bring appropriate alternation or changes in its current marking
policies. With the help of this, they can easily capture the market in a prescribed time duration
and also can improve customer base in an amended mode. Along with this, organisation can also
be benefited by UK political stability in order to explore market share or size in UK.
Economical: Under this, Chick-fil-a face severe recession period which occurred in UK
marketplace that influence firm's overall profit margin ratio. In regard of this, Chick-fila-a make
an attempt to analyse the overall market trend and reduces the product price that enable them to
attract wide range of population towards they brand. Due to this, it also lead them to acquire best
position among competitors in an efficacious manner (Halappa and Kumar, 2014).
Social: In this, it encompasses customer taste and preference, population growth,
demographic factors and etc. that effect firm's sales performance. In UK market, there was a
huge demand among population regarding quality of food in which they mainly focus hygienic
and clean surrounding that negatively impact Chick-fil-a proficiency rate. Henceforth, for
tackling with such issues, company take an initiative in maintaining best quality in food and also
implement several action related to keep the working safe and clean i.e. proper ventilation,
hygienic and etc. Due to such initiation, Chick-fil-a is able to capture the attention of large
number of consumer towards the restaurant and also motive company to gain competitive
advantage.
Technological: In this, the industry where Chick-fila-a is desire to operate its service is
highly competitive and challenging mainly in terms of adopting innovative technology in
delivering the service to targeted population. Therefore, for coping up with such upcoming
threat, Chick-fil-a restaurant make an effort to implement advanced or modern technologies like
application related to online food ordering and delivery facility. Moreover, firm also facilitate its
consumer to share their experience and reviews on company's websites that assist them to enrich
its sales performance in an innovative style (Huang and et.al., 2015).
Environmental: Under this, Chick-fil-a adopt the tactics to reduce the pollution within
environment to attain sustainable growth. Therefore, organisation introduce the action of reduce,
recycle, reuse of resources that Chick-fila-a to manage overproduction of food and also to
minimise the wastage of product. With the help of this, company can easily gain competitive
advantage and can enrich the brand value in competing market.
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Legal: In regard of this, Chick-fila-a make an effort to adhere to all policies, rules,
regulation into its functional unit that enable them to reduce the intervention of government
within its business premises. Due to which, it drive firm to enhance its brand value among
competitors within prescribed time period (Junaid and et.al., 2016).
For determining the internal capabilities, Chick-fi-a take an effort to implement SWOT analysis
in its functional unit which is mentioned below:
Strength
The primal strength which Chick-fil-a restaurant contains is that it offer wide range of
food service such as breakfast, lunch, dinner with various variety of substance. Therefore, such
potentiality assist Chick-fil-a to place their franchise in UK industry in an productive or
innovative style within prescribed time limit.
Weakness
The major weakness of Chick-fil-a is that it take less contribution in obtaining innovative
or advanced technologies into its business function that limit its scope in market growth and also
to acquire best position in competitive industry.
Opportunity
The foremost opportunity which Chick-fil-a can acquire is that UK population are
becoming highly conscious about health which help them to attract the customer towards their
brand by maintaining better quality in food service.
Threat
In UK market, there is an intense level of competition among various restaurants which
negatively impact over their sales performance. Some of its competitors are Dunkin's Donuts,
Mexican Grill, Wendy's Company, Yum! Brands and Church's Chicken and etc. Therefore,
taking corrective course of action help establishment to survive for longer period of time in UK
industry in an aggressive or competent style (Kubacki and et.al.,2015).
TASK 2
Examining the competitive environment and its impact on developing marketing decisions
Porter's five force model is given by Michael Porter in which five forces are stated.
Analysis of these forces helps in determining the firm's competitive position in industry. The
five forces in context of fast food industry is mentioned below:
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Bargaining power of buyers: The pricing decisions of company are highly influenced by
bargaining power of buyers. As there are many organisations available in fast food industry, the
switching cost of customers is high. There are some aspects like products offered by fast food
chain, quality, prices etc. that influence the buying behaviour of customers. So, for Chick-fil-a,
the bargaining power of customers is high as many other fast food chains are available in market
that offer products at similar prices (McClelland, 2014).
Bargaining power of suppliers: In fast food industry, there are numerous suppliers
available in market from which firm can get raw material to produce final product to offer it to
customers. As the availability of suppliers is high in fast food sector, this limits the impact of
suppliers on Chick-fil-a, so the power of suppliers is low for company as it can buy raw
materials form any other supplier if one supplier rise prices of its materials.
Threat of new entry: In fast food industry, the entry of new entrant may disrupt the
performance of organisations operating in it. Chick-fil-a is one of the leading fast food chain
which makes it difficult for new entrants to enter into market and compete with it. Apart from
this, as the competition in fast food sector is very high, it requires high investment to enter into
the industry. So, threat of new entrant is moderate for company.
Threat of substitution product: This force of model determines the impact of substitution
product on fast food industry. As there are many substitutes available in market, it strengthen the
substitution threat against Chick-fil-a. However, the quality that company provides to its
customers may not be provided by substitutes which shows that this force is moderate in
context of refereed company (McDonald and Wilson, 2016).
Industry rivalry: This force determines the availability of competitors or competition in
market. In fast food industry, there are large number of competitors available in market who
deals in similar sector and offers variety of food products to customers. This makes the
customers enable to switch to another brand very easily. So, the rivalry within the industry is
high for Chick-fil-a as the competitors available in market are large in number.
TASK 3
Critically analyse marketing situations and problems facing organisations and assess its capacity
to adapt to a dynamic and uncertain future
Statements and justifications of SMART Objectives
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• Chick – fil- a desire to enrich its overall market growth by 10% within a year
• Chick-fil-a will build the consumer loyalty level by 5% within a month by presenting
new dishes in its existing menu.
For accomplishing the same, restaurant take an initiative to enlist capable staff that can build the
nature of administration in competing market. This will help firm to expand the competitive
benefit in an innovative or aggressive way. Along with this, it also empower organization to
perform in competent manner so that they can easily enlarge their productivity ratio. The second
objective can be accomplished by presenting new dish in showcase. Due to such initiation,
company can reach its goal in upcoming year (Meredith, 2016).
A clear segmentation, targeting and positioning (STP) strategy and perceptual map
The STP procedure shows the connections between a general market and it tells how an
association can compete inside competing industry. It is characterized as procedure in which
above all else division of the client is done, at that point the choice of at least one target markets
is finished. After that point, decision related to positioning take place for product or services. The
objective of the STP procedure is to direct various organizations to create and formulate an
effective or productive marketing mix strategy. The segmentation, targeting on and positioning
of the Chick – fil – café is given beneath:
Segmenting the market –In a marketplace each individuals are differ from each other in terms of
choices of product. Market segmentation is utilized as item, brand or association isn't everything
for all customers. This aides in fitting methodology for addressing needs of various group of
consumers with consistent needs and qualities. There are different methods for segmenting target
markets (Pinder and et.al., 2019). This can be clarified with the application of relevant
examples, there are diverse premise on which customers are focused on -
• Demographic – This implies users are separated based on their personality, attributes,
features, for example, sex, marital status, sexuality, sex, training, occupation, and so on.
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• Geographic – This is distinguish of customers based on state, city, neighbourhood,
locale, and so on.
• Psycho realistic – This is separating by hazard avoidance, character, way of life or
qualities.
• Behavioural – This segmentation of consumers implies that the route by which people
utilize the item, how much faithful they are and benefits that users are searching for.
The Chick – fil- a selects the division based on demographic basis. It has separated
consumers based on their age. The young age is given fast food and new combinations in the
dishes. On the contrary, the grown-ups of higher age are given healthy and natural nourishment.
Targeting on potential customers – According to this process, it is analysed this incorporates
focusing on the users who fall into classification of the above section of market. The Chick-fil-a
offers food to all consumers including adults and youngsters. This is guaranteed that restaurant is
delivering nourishment dishes that depend on the requirements of youthful age and grown-ups
(Sarsby, 2016). Adolescents are given combination dishes. Then again, grown-ups are given less
oily, healthy and veggie lover kind of food dishes. The PEST examination is useful to recognize
what is the best target section of market that Chick-fil-a can adopt into its functional unit for
obtaining profit maximisation.
Positioning of product – This is the last step of STP approach and the primary objective is
to recognize how this restaurant will position each of the item for focusing on the most
significant users sections.
Most importantly it is viewed as that why consumers select this restaurants for their visit.
There is requirement for getting ready one of a kind selling suggestion and drawing a positioning
map for seeing how the target market sees the administrations offered by the café. This aides in
deciding how best to situate the contributions of the restaurant. The needs and wants of each
segment, or the issue happened while offering administration to clients is met. Formation of
incentive is done that plainly clarifies how offering of the restaurant is going to meet prerequisite
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superior to any of your rivals' items. Advertising effort are created and along these lines offer is
refreshing for the potential clients.
TASK 4
Develop, recommend and justify, appropriate and actionable marketing strategies and tactics to
an organisational scenario
Marketing mix is considered as an important elements as it enable organisation to render
high degree of customer satisfaction by placing the product or service in a best position. IN
relation to Chick-fil-a restaurant, they make an effrot to develop a marketing mix in order to
understand the UK market potentiality with an intent of enhancing the sales growth in an
improved way.
Product: IN context of this, Chick-fil-a make an effort to offer its product or service in a
best and improved level of quality. With the help of this, it aid establishment to attract the
attention of large number of consumer towards the brand and can enhance the sales growth in
UK industry (Srinivasan, Rutz and Pauwels, 2016).
Price: In this, Chick-fil-a make an attempt to asses the UK market trend or demand that
lead them to impose premium pricing strategy in its functional unit. Due to which, company can
retain its existing customer and also can invite wide amount of population towards the brand that
increase their overall productivity rate among competitors.
Place: Under this, Chick-fil-a place its brand in all possible location like malls, office ,
near airport or railway staion and so on. With the help of such action, establishment can gain
competitive advantage in an aggressive or competent style.
Promotion: In this, Chick-fil-a make an effort to acquire various forms of promotional
strategy like advertisement in newspaper, online platfrom, public relation and many more. Due to
this, it empower company to maintain a effective brand image among UK customers in a
stipulated time period.
Process: Under this, Chick-fil-a implement simple process for functioning its business
function in a smooth and effective manner. Due to which, it lead them to enlarge its productivity
and proficiency ratio in UK industry.
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Physical evidence: In this, Chick-fil-a maintain its interior ambiance and design in an
attractive or impressive style that drive them to invite wide range of consumers towards its
brand. It help firm to enrich its potentiality to survive in UK industry for longer time period.
People: Under this, Chick-fil-a adopts innovative tool or techniques to hire highly skilled
or potential manpower within the business function that reflect them in acquiring novel ides for
the growth or firm among competitors in UK market (Wang, Zhang and Yang, 2014).
CONCLUSION
It has been concluded from the above discussed report marketing management is an
integral activity that lead an organisation to evaluate the market trend or demand in order to gain
competitive advantage. Along with this, implication of PESTLE and SWOT analysis help
organisation to identify its micro and macro factors for obtaining profit maximisation in an
effective mode. Moreover, implication of porters five force model enable company to determine
the competitive force of competitors that lead firm to attain sustainable growth in a desired time
limit. Additionally, application of marketing mix help firm to analyse the marketplace demand
and aid them to bring high level of customer satisfaction in an mended way.
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REFERENCES
Books and Journals
Anusha, K. S., 2016. Brand a marketing mix: a review. Journal of Global Economics. 4(3). pp.1-
4.
Fernandes, G. and Brandão, L. E. T., 2016. Managing uncertainty in product innovation using
marketing strategies. JISTEM-Journal of Information Systems and Technology
Management. 13(2). pp.219-240.
Halappa, M. and Kumar, S., 2014. SWOT Analysis of Dental Health Workforce in India: A
Dental alarm. Journal of clinical and diagnostic research: JCDR. 8(11). pp.ZE03-5.
Huang, S and et.al., 2015. Y-doped Li8ZrO6: A Li-ion battery cathode material with high
capacity. Journal of the American Chemical Society. 137(34). pp.10992-11003.
Junaid, M and et.al., 2016. Structural, spectral, dielectric and magnetic properties of Tb–Dy
doped Li-Ni nano-ferrites synthesized via micro-emulsion route. Journal of Magnetism
and Magnetic Materials. 419. pp.338-344.
Kubacki, K and et.al.,2015. Minimizing alcohol harm: A systematic social marketing review
(2000–2014). Journal of Business Research. 68(10). pp.2214-2222.
McClelland, T., 2014. What exactly do you do here? Marketing-related jobs in public and
academic libraries. Journal of library administration. 54(5). pp.347-367.
McDonald, M. and Wilson, H., 2016. Marketing Plans: How to prepare them, how to profit from
them. John Wiley & Sons.
Meredith, L., 2016. Multiple marketing plans: an analytical template. Journal of Business &
Industrial Marketing. 31(4). pp.519-530.
Pinder, D. M and et.al., 2019. An isotopic study of dietary diversity in formative period
Ancachi/Quillagua, Atacama Desert, northern Chile. American journal of physical
anthropology.
Sarsby, A., 2016. SWOT analysis. Lulu. Com.
Srinivasan, S., Rutz, O. J. and Pauwels, K., 2016. Paths to and off purchase: quantifying the
impact of traditional marketing and online consumer activity. Journal of the Academy of
Marketing Science. 44(4). pp.440-453.
Wang, X. P., Zhang, J. and Yang, T., 2014. Hybrid SWOT approach for strategic planning and
formulation in China Worldwide Express Mail Service. Journal of applied research and
technology. 12(2). pp.230-238.
Online
Porter's Five forces model, 2019. [Online]. Available
through:<https://www.porteranalysis.com/porters-five-forces-of-restaurant-industry/>
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