This document provides a comprehensive guide on creating a marketing plan. It covers topics such as macro/micro analysis, SMART objectives, STP approach, competitor analysis, and more. The document is based on the case study of Chick-fil-a, an American fast-food corporation.
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Creation of a Marketing Plan
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Table of Contents INTRODUCTION...........................................................................................................................1 1. Macro/Micro analysis.........................................................................................................1 2. SMART objectives.............................................................................................................4 3. STP approach......................................................................................................................5 STP.........................................................................................................................................5 4. A competitor analysis.........................................................................................................6 5. Marketing strategy using (7P'S).........................................................................................8 CONCLUSION................................................................................................................................9 REFERENCE.................................................................................................................................10
INTRODUCTION Marketing is the combination of different activities which is generally mange and controlled by different types of firms and organisations in order to communicate with several people and clients for staying long duration at marketplace. For making every activity better conduct marketing research is required for each and every firm by which they can get to known about customer's taste and preferences as well at marketplace. Along with it is helpful tool to identify marketing opportunities towards business. Present assignment is based on American fast-food corporation named asChick-fil-a which was formed in 1967 through S. Truett Cathy in Atlanta (Akbar and et.al., 2017). Further discussion will be based on macro/micro analysis along withSMARTobjectives.STPapproachandCompetitorsanalysistogaincompetitive advantages. At last 7P'S of marketing will get discussed. 1. Macro/Micro analysis. Situation analysis: This analysis is based on different types of situation which is helpful for firms to conduct different types of marketing research in a better way. With the help of this firms can get their strength, weakness, opportunities and threats along with external factors by which they can get influence in both positive and negative way. Herein, Chick-fil-a restaurant is able to follow this analysis perfectly in order to know what are the situation of external market and how they can expand its business in a proper way. In order to grab different types of marketing opportunities it is necessary for them to achieve targeted goals and objectives in a proper way(Brychkov and Domegan, 2017). Along with they can produce their desired items and services to customers which they want. Therefore, herein manager has responsibility to implements on SWOT & PESTLE analysis, which are going to be discussed below: SWOT StrengthWeakness ď‚·Chick-fil-arestauranthaseffective brand image within US, Canada as it offers different types of fast food items to people at marketplace, therefore, it has good strength. ď‚·This restaurant is has not much unique identity in to the US market so that sometimes it face difficulties through providing their goods and services. ď‚·There are different types of fast food 1
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ď‚·On the other side this restaurant always pay at high rate to their employees which mainly maximise their demand andvalueatmarketplaceinan appropriatemanner.Therefore,they are able to satisfy their customers in a perfectway(BakerandMagnini, 2016). restaurants chain in everywhere which reduces the image of this particular brand of fat food items and develop huge competitions between them. OpportunitiesThreats ď‚·Chick-fil-amainlyprovideeffective andhealthyfastfoodchainswhich helpsthemtoincreasetheirhealth benefits and make them happy. So that they have a opportunities to increase its growth successfully. ď‚·In order to extend its business within UK they have opportunities as they offer higher quality of food so that it can develop effective services for them in a better mode. ď‚·Thereareassortedkindoftrouble aboutfastfoodindustrywhodeals with chicken and fried chicken as well. Therefore,thisfirmhasbig competitorswhichnamedas McDonald's therefore, they are require to have some unique concepts. PESTLE This analysis generally used by firms in order to give better position to their products and services in order to gain accurate environment information. It has been specified below in reference with Check-fil-a restaurant: Political:According to this factor rules and policies can get affected of Chick-fil-a restaurant as each and every country have their own rules and laws so that they can face few issues to expand its business in new place. Therefore, they are needed to apply best quality of works to influence customers(Eng, 2017). 2
Economical:This is another significant factor for each and every organization in order to sustain in the market for the longer run. In the case of cited firm, they are needed to follow different types and laws which is given by US government, thus they can get their effective sales and profits towards its businesses and able to influence customer's in positive way. Social:This factor relate with social changes within economy which involves present trends, culture and behaviour of people in a perfect way. Herein Chick-fil-a required to have various tools and techniques by which they can satisfy customer's goals and able to reach their targeted level at marketplace(Chinn, 2017). Technological:Within technological advancement it is necessary for Chick-fil-a which is well known organisation for maintain their brand value they are needed to communicate with different types of functional unit in order to implements on different types of technologies so that they can develop innovative taste on their food and able to achieve their target in a proper way. Legal:There is not much rules and laws which affect this restaurant so that they are only needed to follow effective guidelines in a positive manner. Environmental:In order to manufacturing process of goods and services respective restaurant is able to apply unique safety tools and strategies for their workforce in order to make effective image in a proper way. Marketing management principles: Integrity:This is important audit principle in which manager of Chick-fil-a restaurant has responsibility to perform their task in order to provide better services to customers to achieve their target in a perfect manner. Professional care:In this principle of auditChick-fila-a they are needed to develop effective and unique tools so that they can achieve its desired goals and objectives in a perfect way(Griffitts, 2016). Fair presentation:At the last stage of this principle restive firm and business required to find best ways to represent their overall aspects by which they can develop trust towards its products within customer's mind in a perfect manner. On the other side, marketing audit is the combination of comprehensive, dynamic and systematic environment which directly influence firm's functions and their operations in a positive way. Along with the following both analysis SWOT & PESTLE they can achieve their targeted goals and objectives properly. 3
2. SMART objectives. In order to make effective goals of business firms are needed to have effective motivated terms in order to analyse their overall information and objectives towards their products (FaĂźmann and Moss, 2016). In context with Chick-fil-a restaurant, they are needed to have smart objectives by which they can reach at high levelc of busienss and able to make customer's happy towards their foods items. Herein, S stands for specific, M for measurable, A for achievable and T stand for timely. With the help of following these assorted objectives they can achieve targeted level at marketplace. All these objectives are following as under: Specific: On the basis of this, Chick-fil-a restaurant is able to concentrates on those strategies by which they can fulfil their organisation along with they are able to to achieve its targeted goals in a proper way. For example: If Chick-fil-a restaurant is able to give fried chicken with innovative tastes then they can focus on their consumers preference and satisfying them. Measurable: It mainly focuses on overall business progress herein, Chick-fil-a restaurant required to evaluate different types of activities by which they can easily measure their services and practices at marketplace like how they are focusing on manufacturing process of goods and services and how they served to its customers. Therefore, measurements is an essential aspect of this firm in order to achieve measurable objectives business goals in a competitive scenario. Achievable: In reference with Chick-fil-a, can easily make better goals and services by achieving their market target in a perfect way. For achieving effective goals and services they generally made such type of process by which they can get better decision towards manufacturing process of overall goods and able to target their capabilities towards its business in a perfect manner(Pike, 2016). Realistic: Goals are always realistic which can be beneficial for Chick-fila-a restaurant in order to use available resources to get better outcomes at marketplace. With the help of this goals they 4
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can bring few modifications in their work and able to run their business in a proper way. Therefore, realistic goals are always helpful for every business. Timely: In this factors goals are generally time bound in whichChick-fil-a restaurant able to make their targeted vision in a short period of time to get better results towards firm. Along with this they can face any kind of situation at business place and able to achieve their targeted goals in a perfect manner(Okumus and Cetin, 2018). On the above mentioned objectives this can be said that Chick-fila-a restaurant they can observe on their entire strength and weak points in order to achieve targeted business goals in a perfect style. Therefore, this is required for each and every firm to follow smart objectives to make their business better. 3. STP approach. STP STP approach always considered as an essential aspect of business which help firms to make their appropriate position, segments and target of their particular goods and services. Along with this, it always connect firms to market environment so that they can bring innovative ideas and thoughts to expand their business. In context with Chick-fila-a restaurant they generally use this approach in order to get effective and accurate information towards business expansion in UK(Kotoua and Ilkan, 2017). In detail this process is following as under: Segmentation: This is always considered as an initial stage within STP approach which is very helpful for each kind of business in order to gain appropriate marketing objectives. In reference with Chick-fila-a restaurant they generally segments their market on the basis of demographic and psycho graphic which is based on age, gender and income of people. With the help of using this strategy they can make their food items accordingly and able to know what consumer's wants and desires actually. Therefore, it is necessary for them to grab marketing opportunities at marketplace in a proper way(Karnaukhova and Polyanskaya, 2016). Targeting: After doing segmentation properly Chic-fil-a restaurant is able to target their market place in UK by which they can expand their business in a perfect way. Generally this restaurant targeted families, friends, children and their mom's so that they can give better product and 5
services accordingly in a perfect way. By having this types of targeting market they can achieve their goals and objectives and able to build strong relations with their potential customers. Positioning: This is always considered as an last stage of this approach in which Chick-fil-a restaurant needed to focus on two types of variables by which they can eluate overall market conditions in order to build its relations with customers. By following so many tools and strategies marketing services can be more better by this restaurant and able to give huge services with benefits to its customers. It will help them to gain better marketing image and encourage them to expand its business in UK thoroughly(Piñeiro-Otero and MartĂnez-Rolán, 2016). Therefore, this is very helpful approach for this restaurant by which they can learn so many new concepts and strategies and able to apply them on their work in a perfect way. Therefore, it is necessary for them to achieve goals and tarted customers by which they can make their restaurant better and able to gain competitive advantages in a proper manner. 4. A competitor analysis. Competitive analysis generally based on different types of situations which is beneficial for firm and several businesses enterprises. By which they can produce their goods and services at affordable price according to present trend. Therefore, these assorted conditions mainly allow to business and firm to develop their valuable product in marketplace which can satisfy consumer's wants and needs in a perfect manner. Along with this, they can increase their sales and revenue to gain competitive advantages in a complete way. In context with Chick-fil-a they generally used so many tactics and strategies by which they can implements on new innovative ideas, and able to achieve their specified tarted goals. Within the current scenario there are several sorts of food restaurants which attract ample number of customers in a large scale. So that this type of restaurant generally develops competition at marketplace and always fight to gain more profit as compare to other(Rudden, 2016). In America there are assorted kinds of food restaurant in which Chick-fil-a is one of the best leading food chain that specialised in Chicken sandwiches.As this firm has large number of employees so that they can operate more restaurant in one time within different countries. In order to expand its business within UK, they generally use Porter's generic strategy model to known about other market's situation, mentioned below: 6
Porter's generic strategy model is also known as generic strategy which involves different types of strategies to gain specific information towards marketing condition. Some of strategies towards this model, mentioned in beneath: Cost leadership strategy: This strategy is based on two ways, whereas, 1st refers to adopt low cost pricing strategy and another one is focuses on increasing market share with effective utilization of available resources. Herein, Chick-fil-a restaurant is able to use low pricing strategies in order to grab numerous opportunities through influencing lots of people in a market. By choosing this option they can make innovative food products which carries different type of taste and shape as well so that customers can easily get influenced by them and gives better feedback to firm. Thus respective restaurant is able to apply effective cost on their product and make every product with several tastes at marketplace(Eagle and Dahl, 2015). Cost focus: On the basis of this strategy this can be said that Chick-fil-a restaurant should mainly target niche market through which they can meet overall marketing opportunities and able to provide better goods and services to customers. Therefore, this type of niche marketing always able to understand overall concepts of dynamic market environment and make products effective towards firm. Differentiation strategy: If firms and any kind of business targets different types of marketing area than they are needed to differentiate their overall products by which they can sale their item accordingly. In context withChick-fil-a restaurant in order to make their services and product in a better way than they should differentiate their product from another restaurant so that they can get idea about overall marketing strategies and cost as well. With the help of this they can reach their goals and able to gain effective brand image in the market. It will help them to expand their business in a perfect way within UK(Fifield, 2012). Differentiation Focus strategy: In order to focus on every factor of external environment respected firm is required to have different types tools and strategies so that they can produce those products what they want. Along with this, in order to create effective brand loyalty towards their business they can apply innovative tastes and preference which is liked by most of the customers. If they always follow 7
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this type of concepts than they can get better sales and revenue and able to achieve its targeted goals. From the above mentioned generic strategies it has been concluded that, these types of strategiesChick-fil-a restaurant can easily use and able to expand its business in a broad way. Along with through applying various tools and techniques to give better innovative shape towards their product they can easily satisfy customer's needs and wants able to achieve their business goals(Uncles, 2018). 5. Marketing strategy using (7P'S). Marketing mix is the combination of different types of elements which is used by firms in order to analyse their overall features and operations at marketable. Along with this they can easily achieve their business goals by differentiating their entire goods and services in a perfect manner(Jones,SuorantaandRowley,2013). Herein,differencebetweenChick-fil-a and McDonald’s, which is going to described below: 7P'SChick-fil-aMcDonald’s ProductVegetarian and non-vegetarian menu,beverages,frozen deserts. Fastfood,happymealfor children, deserts and more. PriceQuite affordable products.Affordable price range to be boughtbyindividualofall income groups. PlaceMalls, shopping complex and residential areas. Located in all prime locations. PromotionDirect mail, door drops, points ofsaledisplay,loyalty schemesarepromotion methods that company use. Uselotsofmediasuchas advertisement,newspaper, socialmediaplatformsand more. ProcessNew method of packaging and distributionhasbeen undertaken by organisation. Foodproducingprocessis transparent to customers. 8
CONCLUSION On the above respective report it has been concluded that marketing plays significant role within the organisation. It help businesses and so many firms in order to conduct marketing research to known overall business situation at marketplace to make better decisions towards reaching targeted goals and objectives. Along with this study there are different types of marketing strategies which comes under the 7P's that help firm to differentiate their goods from the other one. Whereas, PESTLE and SWOT analysis and STP approach shows many details about firms. Therefore, in order to achieve targeted goals firms are needed to have these assorted plan to gain successful growth in business. 10
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