Marketing Mix Strategies for Wingstop and Tim's Coffee Shoppe
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This article discusses the marketing mix strategies of Wingstop and Tim's Coffee Shoppe. It explains how they have implemented the 4Ps of marketing mix, namely product, place, price, and promotion, to attract customers. It also includes a recommendation for better signage for Tim's Coffee Shoppe.
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Running head: MANAGEMENT Business Communication Name: Institution: Date:
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MANAGEMENT Discussion 1: 4Ps Introduction The 4P marketing plan is a great marketing mix which identifies targets markets for products and services and determines the needs of the general consumer. Every business should have a marketing plan which is crucial for the success of the business. The main focus is customer satisfaction, value and quality. It is centered on 4PS namely; Product, place, price and promotion. The product we are going to look at is the wings top restaurants which is a franchise that sells fast foods. In the competitive world of hotel and hospitality industry, one has to be above the rest competitively in order to survive the tough wars(Huang & Sarigöllü, 2014). Wing stop has managed to do so by basing its marketing strategy on the 4ps. Product The first variable of product should be the best. Quality beats the best. With competitors like, MacDonald’s, KFC etc., Wing stop has been able to have the best quality, packaging, features and customers service on its foods. Their wings which are the most attractive have been able to appeal to the public with various tastes and feel. Their wings are attractive to the many lovers of chicken and fast food with a difference. Place PlaceThere are over 200 wings top locations which means they are accessible and the customers can get easy deliveries. The place should be based in a secure place where wings top franchises are located in major urban areas and residential areas with ample security. In case of delivery, there are delivery services that have partnered with the franchise to make sure customers get what they want.
MANAGEMENT Price Compared to its competitors, wings top offers its products at a fairly competitive price without the compromise on quality. They also offer some of their food at discounted prices and have offers and promotions at particular days. There is also a promotion where you buy food at a given price and you are given a discount or a package aimed for marketing purposes (Datta & van Heerde,2017). Promotion Wingstop mainly uses methods such as advertising and direct marketing to persuade its customers. Self-promotion is also a strategy used by the franchise. This has given it the much needed publicity for business which is good in a competitive environment. Discussion 2: Marketing at Tim’s Q1) Will these products fit with his existing market segment Yes they will. Tim’s coffee Shoppe is located in Sunnydale Illinois which is a mid-sized city with an extremely busy downtown. With this setting there is a population that is able and willing to be customers of the breakfast he sells. For Tim, the urban population which consists mostly of the working class can sustain his business(Datta & van Heerde, 2017). Q2) Then go into Tim's Coffee Shop and look at the menu board and see if you have any recommendations for better signage.
MANAGEMENT The menu can be more attractive than these. He can add many more breakfast chooses to increase the clientele or the customers that are displayed. I would recommend that he may add tea, sausages, beacon and toast which may be preferred by some people in the city.
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MANAGEMENT Bibliography Huang, R., & Sarigöllü, E. (2014). How brand awareness relates to market outcome, brand equity, and the marketing mix. InFashion Branding and Consumer Behaviors(pp. 113-132). Springer, New York, NY. Datta, H., Ailawadi, K. L., & van Heerde, H. J. (2017). How well does consumer-based brand equity align with sales-based brand equity and marketing-mix response?.Journal of Marketing,81(3), 1-20.