Principles and Practices of Marketing for Pret a Manger

This report discusses the marketing principles and practices used by Pret a Manger, a multinational fast casual restaurant in the UK. It covers the overview of the company, utilization of marketing mix elements, STP analysis, and evaluation of marketing efforts. The report emphasizes the importance of positioning, marketing mix, and STP analysis in achieving marketing goals.

Principles and Practices
of Marketing

Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Overview of the selected company..............................................................................................1
Used at least 4 elements from the 7 elements of marketing mix in their UK operation, to
reinforcing its positioning within the last three years..................................................................2
Analysing marketing mix for the selected company....................................................................3
STP analysis of selected company...............................................................................................4
Analysing how an organisation evaluates effectiveness of their marketing efforts.....................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Marketing refers to the most critical organisational function of profit making or non-
profit organisation in all over the world (Liu and Levin, 2018). It is deep process which includes
product designing and development, research, promotion as well as customer service. The
principles and practices of marketing follows a logical sequence that help company to market
their product, service and brand more effectively (Jobber and Ellis-Chadwick, 2019). This will
help company to achieve their goals more effectively as well as make competitive position in the
market. For the following report, selected company is Pret a Manger which is a multinational fast
casual restaurant of UK. The company is founded by the Jeffery Hyman in 1983 and its
headquarters is in London, England, UK. The following report covers the overview of the
selected company along with the utilisation of four elements of marketing mix in their UK
operations. It further includes marketing mix, STP analysis of the selected organisation as well as
it evaluates how an organisation evaluates its effectiveness of their marketing efforts.
MAIN BODY
Overview of the selected company
Pret a Manger is an international franchise chain of sandwich shop based in United
Kingdom as well as popularly known as Pret in all over the world. The name of the company
means ready to eat. The company provide its services in around more than 450 locations as well
as it as approximately 12000 employees in its working area. The company offers various
varieties of products to their customers which includes sandwiches, sushi, salads, coffees, soups
as well as snacks. The company has approximately 400 shops within the United Kingdom as
well as different outlets in 324 locations within the London. The company claims that it uses
natural ingredients in its products as well as their products are made in daily basis in their
kitchen of each locations. They charities their left and unsold products in order to provide fresh
products to their customers. They used paperboard instead of sealed plastic in order to packaged
their sandwiches and other products in order to protect the environment as well as their potential
customers health.
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Used at least 4 elements from the 7 elements of marketing mix in their UK operation, to
reinforcing its positioning within the last three years.
Positioning plays a essential roles for the company in order to make them different and
unique from their competitors as well as gaining more and more customers attractions. This
makes important for the company in order to position their offerings effectively in the market
that help them to achieve their goals more effectively (Palmatier and Sridhar, 2020). This will
help them to make effective image of their brand in the mind of their customers. In respect of
Pret a Manger, 4 elements of marketing mix that is used in their UK operations are described
below:
Positioning of product- This implies that, the company need to focus on position its
product and service in the market that helps in meeting the needs and wants of their target
customers. This makes important for the management of Pret a Manger to make their products
more effective and tasty that has the capacity in order to fulfil the demands of their customers in
all over the world. This will helps them to achieve their goals and objectives as well as make
strong position in the UK market.
Positioning of Price- This refers to the elements that describes the willingness of the
customers in order to purchase the goods of the company in effective manner. This makes
company to charge reasonable price for their products in order to attract more and more
customers as well as make strong position in the market (Hay and Eagle, 2021). This makes the
management of Pret a Manger to focus on flat pricing schemes for their products in order to
make effective position in the market.
Positioning in Place- This also an important element that help company in order to
distribute their products to their potential customers. This makes important for the management
of Pret a Manger to identify effective distribution channel for their products that helps them to
make effective position in the market. As the company has many outlets and shops that helps in
selling its products to their customers. The company also using online platforms in order to
distribute their products which also helps them to make effective position in the market.
Positioning in promotion- This refers to the most helpful strategy that helps company to
attract more and more customers for the sale of its products in the market. This makes
management of Pret a Manger to use effective strategy that help them to market their products in
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all over the world. The company should focus on using various platforms that helps in
advertising their products which includes social media platforms, advertisement, TV ads, etc.
Analysing marketing mix for the selected company
A marketing mix refers to a marketing model that help company to market their product,
service and brand effectively in the market in order to attract more and more customers towards
it. It describes the set of actions that help company to promote their products and services in the
market more effectively (Hanson and Kalyanam, 2020). This describes the 4 important element
of the company that helps them to achieve their goals as well as earn more profit which includes
product, price, place and promotion. This will helps company to select and decide best marketing
strategy for their product and services. In regards of Pret a Manger, its marketing mix with their
4 elements are described below:
Product- This refers to the item that a company actually want to sold in the market in
order to earn more and more profit. This makes important for the company analyse needs and
wants of their potential customers in order to develop their products and service for fulfilling it.
In context of Pret a Manger, it describes that the company has various varieties in their products
that match the needs and wants of their customers. The company has many shops and outlets in
the market that help in selling their products to their customers. The company always make their
focus on making their products more tasty and healthy in order to attract more and more
customers. It focus on maintaining the high quality of their products as well as deliver their
products in safe manner. This will help them to promote their product in the market effectively
as well as achieve their goals also.
Price- This describes the value that a company put it in their product or service that
depends on their cost of production. This makes important for the company to charge the price in
their product according to the willingness of their target customers in order to make them to
purchase their products more effectively as well as helps them to achieve their goals (George,
2021). In case of Pret a Manger, its management make their focus on using flat pricing scheme in
their products in order to attract more and more customers. The company is always focus on
using effective strategy that help company to attract more and more customers for their products.
As the company has various outlets and shops in which they use same pricing strategy in each
them in order to make their customer engaged and help them to achieve their goals more
effectively.
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Place- This describes the point of sale for the products and service of the company. This
makes company to choose select those place for the products and service where customers can
easily attracted as well as make them to purchase it. In account of Pret a Manger, places plays a
important role for the promotion of its products it market as it is directly relates with the
accessibility of their target customers (Jacob, Pez and Volle, 2021). It company maintain many
stores in all the market which was operated by its managements in order to deliver their products
easily to their customers. The also places its products in hypermarkets and supermarkets in all
over the world. The company also has its own websites for making easier for the customer's to
place their order online as well as track their order also.
Promotion- This describes the strategy that help company to make their products and
services to known to their target customers in order to attract them. This will includes
advertising, incentives, direct marketing, etc. In aspect of Pret a Manger, the company uses
various strategy in order to promote their product and service in the market. This will allows
them to interact and communicate with their target customers as well as influence them to
purchase their products and services more effectively. The company make their focus on using
digital marketing strategy in order to promote their products in the market. The company has its
own profits in all social media websites that helps them to attract more and customers for their
products more effectively. The also uses loyalty card programs in order to promote their products
in which it allows customers to redeem points in the exchange of their products.
STP analysis of selected company
STP analysis refers to a consumer centric approach for marketing communication that
help company to deliver more personalised as well as relevant information about their products
to their target customers. It describes three steps that help company to analyse their target market
are segmentation, targeting and positioning. This will also help company in order to analyse their
profitable and valuable market segment, target customers along with the understanding for
positioning their product and service in the market (Mohammadi and Reed, 2020). This will help
company to achieve their goals as well as enhance their competitive position in the market. In
regards of Pret a Manger, its segmentation, targeting and positioning are described below:
Segmentation- This describes the process that classifies the large audiences into a
various smaller groups according to their certain characteristics and traits. This process allows
company group their individual members into common groups from which company can easily
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communicate about the features and benefits of their products in relevant manner. The market is
differentiate in mainly in four segments that are demographics, psycho-graphic, geographic and
behavioural. The demographic segments covers the audience on the basis of their age, education,
gender, etc. The psycho-graphic segments covers the audience on the basis of their beliefs and
values, priorities, personality traits. The geographic segments covers the audience according to
their city, country, region or culture (Jaworski and Lurie, 2019). Whereas behaviour segments
covers the audience according to their brand loyalty, channel preferences as well as their
shopping habits. In context of Pret a Manger, the most profitable and valuable segments for their
products is demographic as well as geographic because it helps them to identify their target
customers for making them satisfy with their products and services.
Targeting- After analysing the market segments for their products, this step makes
company to identify most suitable and profitable target customers for their products and services.
In order to analyse most attractive segment for the company this makes important for them to
consider certain factors of targeting also. They first analyse the size of their selected segment as
well as their potential to increase the size (Hyde, 2021). After this, they have to find out the
profitability of their selected segment in order to analyse their future outcomes. And in final,
they find out the reachability in order to analyse the most effective method that help company to
easily reach to their target customers in order to fulfil their needs and wants. In case of Pret a
Manger, the most profitable and attractive target customers for the company is middle and high
income level of customer in between the age of 15 to 65 of different countries. The company is
always making their focus on providing high quality and most delicious products to their
customers in order to gain largest market share. This will makes company more competitive for
their competitors.
Positioning- This refers to the final steps that makes company to develop effective
strategy that helps them to position their products and services different in minds of their target
customers from their competitors (Ertz and Michelet, 2022). This will help company make
competitive position in the market. Value propositions is an effective methods that help company
to make unique position in the market for their products and services. There are three standards
methods exist in the market that help company to position their products and services as well as
gain competitive advantages in the market. These are functional positioning, symbolic
positioning and experiential positioning. In account of Pret a Manger, as the company is a
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multinational company which makes its management to use most attractive and different strategy
that helps them to make competitive position in the market because the products they offers to
their target customers are similar in nature. The company provides more varieties in their
products which also helps them to make more effective position in the market.
Analysing how an organisation evaluates effectiveness of their marketing efforts.
This makes essential for every enterprises to evaluates their marketing effectiveness in
order to guide their future initiatives of marketing as well as helps them to achieve their goals
more effectively. It can be measured by analysing the long term and short term revenue
generated by their marketing campaign (Spiller, 2020). By the analysing how their acquisition of
cost of customers are lowered by their marketing campaign can also help company to to evaluate
their marketing efforts. The main aim of this evaluation is to help companies to improve their
marketing strategies in order to get best outcomes for it as well as achieve their future goals more
effectively. There are various of tools exist in the market that assist in measuring the marketing
efforts of the company. In aspect of Pret a Manger, its management uses KPI (Key Performance
Indicators) in order to measure the performance of its marketing campaign. This will in
analysing their performance, tracking the number of conversions in their each marketing
campaign help companies to evaluate their marketing efforts.
CONCLUSION
From the above discussed report, it has been concluded that principles of marketing assist
various organisation for the development of their marketing strategy in order to promote their
goods and services as well as attract more and more customers towards it. Marketing-mix and
STP analysis are most useful models that helps in making the attractive marketing strategy for
the company in order to earn more and more profit. By using marketing mix helps company to
plan a successful product and services in order to fulfil the needs and importance of their
customers. Whereas using STP analyses assist companies to develop an better strategy that help
company to make their product and service different and unique in the market.
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REFERENCES
Books and Journals:
Jobber, D. and Ellis-Chadwick, F., 2019. EBOOK: Principles and Practice of Marketing, 9e.
McGraw Hill.
Liu, Y. and Levin, M.A., 2018. A progressive approach to teaching analytics in the marketing
curriculum. Marketing Education Review, 28(1), pp.14-27.
Palmatier, R.W. and Sridhar, S., 2020. Marketing strategy: Based on first principles and data
analytics. Bloomsbury Publishing.
Hay, R. and Eagle, L., 2021. Marketing social change: Fixing bush internet in rural, regional, and
remote Australia. In Broadening cultural horizons in social marketing (pp. 281-293).
Springer, Singapore.
Hanson, W.A. and Kalyanam, K., 2020. Internet marketing and e-commerce.(Student ed.).
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George, R., 2021. Tourism and Hospitality Marketing Planning. In Marketing Tourism and
Hospitality (pp. 149-182). Palgrave Macmillan, Cham.
Jacob, F., Pez, V. and Volle, P., 2021. Principles, methods, contributions, and limitations of
design science research in marketing: Illustrative application to customer journey
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Mohammadi, H. and Reed, M., 2020. Saffron marketing: Challenges and opportunities.
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Ertz, M. and Michelet, B., 2022. Succeeding with Responsible Marketing a Framework and
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Spiller, L., 2020. Direct, digital & data-driven marketing. Sage.
Hyde, F., 2021. Relationship marketing in charities: So much more than just ‘tea and sympathy’.
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