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Marketing Plan Assignment - Domino's

   

Added on  2020-10-05

12 Pages4033 Words414 Views
Marketing Plan

Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Identifying different segments....................................................................................................1Segments requirements...............................................................................................................2Segment Profile...........................................................................................................................3Segments that company should target.........................................................................................3Objectives for each segments......................................................................................................4Competitor activities in chosen segments...................................................................................4Value proposition/ positioning/ point of difference....................................................................5Marketing mix.............................................................................................................................5Control and research mechanism of Domino's ...........................................................................8CONCLUSION ...............................................................................................................................9REFERENCES..............................................................................................................................10

INTRODUCTIONMarketing plan is that report which describe the marketing strategy for the a firm for itsfuture and it contain a list of action which helps a business to introduce a new product in amarket, but for that it is necessary for a business to segment which a firm should target. In thesame way, report main aim is to describe segmenting for a market. The chosen firm for thisreport is Domino's which is one of the largest food company who offer different products fortheir customers at reasonable rates. Therefore, the report will describe different segments whichthe company chooses and then show the requirements of each segments with their profiles.Further, the report will describe segments that company should target with objectives. Reportwill further describe the 4P's of marketing such as product, place, price and promotionalactivities. Then it describe the control mechanism which a firm may also adopt in order to ensurethe right direction for Domino's. MAIN BODYIdentifying different segmentsMarket segmentation is the the activity in which the broad consumer are divide on thebasis of shared characteristics. Thus, segmentation mainly aim is to identify high yield segmentswhich likely to be most profitable and selected for a special attention as well. There are differenttypes of segments which are as mentioned below:Geographic Segmentation: This segmentation is divides the market on the basis ofgeography. Even it is also consider the first step in international marketing in which themarketers are decide whether they have to adapt their existing products for a unique needs of thegeographic markets or not Hirzer and et.al., (2019). Apart from this, this type of marketsegmentation is quite important for the marketers because people are belonging to differentregions and they have different requirements as well. In this the company also divide the marketby city, country, state and region.Demographic Segmentation: This type of segmentation, divide the market on the basisof demographic variables such as age, gender, martial status, family size, income, occupation etc.It has been also assumed that consumer with similar demographic profiles also display samepurchasing power, motivation and lifestyles for the brand. Behavioural segmentation: It is another type of segment in which segment is basedupon the audience's behaviour, usage and their preference or decision making. Further, this type1

of segment is mainly divided and based upon their knowledge of a product. It is so because it isanalysed that knowledge of the product generally affect the buying decision of a person. Eventhe audience are also segment into, those people who know the product and who do not know theproduct, its potential users, current users Liu and et.al., (2019).Psycho-graphic Segmentation: This segment divide the audience on the basis of theirpersonality, lifestyle and attitude. Even this segmentation process is also define that consumerbuying behaviour also influenced by customer's personality and lifestyle. Therefore, it is thecombination that forms an individual's character and their traits or attitude. It is further analysedthat the personality and lifestyle should influence by the purchasing judgement and the use of aperson to a great extent.Segments requirementsThere are so many ways that can be used to segment a market but not all thesegmentation are effective, that is why, Domino's chooses demographic segmentation and therequirements is as mentioned below:Measurable: in this, a firm should know how the products sales are growing in thedemographic segmentation, for that reason, there is a need to measure the growth rate and froDomino's its Pizza is the core product and one of the highly profitable product as well. That is2Illustration 1: Segments requirements(Source: Segments requirements, 2018)

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