This marketing plan focuses on Chick-fil-a restaurant's expansion into the UK market. It includes a detailed analysis of the competitive environment, marketing strategies, and tactics for profit maximization.
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Table of Contents 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 decisions. .3 TASK 3............................................................................................................................................5 Critically analyse marketing situations and problems facing organisations and assess its capacity to adapt to a dynamic and uncertain future...................................................................5 TASK 4............................................................................................................................................7 Develop, recommend and justify, appropriate and actionable marketing strategies and tactics to an organisational scenario.......................................................................................................7 CONCLUSION...............................................................................................................................9 REFERENCES..............................................................................................................................10
INTRODUCTION Marketing plan is a detailed document or blueprint which render correct path or counsel to organisation in status of selecting strategies, location, distribution channel ans do on in order to execute the desirable content or objective within prescribed instance period. Moreover, adoption of marketing plan benefit company by evaluating or examining the actual or rising marketplace trend. Moreover, it help them to proceeds better course of activity to overcome with such situation in an impressive and innovative manner (Anusha, 2016). Additionally, it also aid firm to place their brand ina better perspective among competitors. In regard of this project, Chick- fil-a restaurant has been considered, which is one of the largest fast food chain in United States and it is commenced in the year of 1946. Moreover, Chick-fil-a is planning to expand their franchise into UK as a part of market expansion. However, this report is based upon a marketing plan for Chick-fil-a, which encompasses marketing analysis, marketing mix, STP and so on for obtaining a better profit maximisation in UK marketplace within a stipulated time limit in effectual manner. TASK 1 In today's business environment, it contains intense degree of rivalry or demand among organisation that instantly effect over system judgement making procurer for accomplishing desired sales growth in competing marketplace. Moreover, marketing environs is sum total of macro and micro factors that influence firm's overall productivity ratio. However, implication of suitable application of theories help Chick- fil-a to enhance its market division in an efficient manner. In terms of analysing external market, PESTLE analysis is regarded as powerful determinate which enable establishment to implmnet best strategic decisions for obtain profit maximisation. Thus, the PESTLE analysis of Chick-fil-a are as follows: Political:Under this, Chick-fil-a face huge difficulty with the commencement of Brexit inside UK industry as it entirely modifies the organisation policies or regulation that negatively impact over its proficiency ratio (Fernandes and Brandão, Halappa and Kumar, 2014). Threfore, for tackling with this negative effect, Chick-fil-a make an endeavour to adopt every changes which is obligatory by governance into its structural unit that enrich its firm's productivity ratio. Moreover, organisation will also getbenefit by UK political stability that help them to tackle with all form of emerging complexities in an effective mode.
Economical: In this, Chick-fil-a face huge recession period in its economy which directly impact over its sales performance in a negative mode. Thus, company takes an initiative to reduce the cost of the product which enable them to attract wide range of customer towards the trade name. Additionally, it help them to spot their reputation in a better and combative orientation in a desired time limit. Social:In this component, there was a increased degree of demand among UK people regarding quality of food product which effect Chick-fil-a sales volume among competitors. Thus, company makes an attempt to maintain best quality into its food production system and also keep all its food preparation system in hygienic factor. With the help of this, Chick-fil-a can easily acquiring the interest of targeted population and also can heighten their total performance. Technological:In regard of this component, UK population was in highly demand of innovative or advanced technology within organisation functional unit that influence Chick-fil-a profit margin ratio. Thus, organisation takes an effort to adopt modern or advanced application that lead them to profit competing benefit in an innovative or amentaceous mode. Furthermore, company develops various online application which brings improved level of positive response among consumers towards brand (Huang and et.al., 2015). Environmental:IN this, Chick-fil-a adopts trenchant operational process which help them to reduce the wastage of product that enlarge its profitability ratio in an improved mode. Legal:In context of this factor, Chick-fil-a follows all policies , rules, regulations, procedures properly which enable them to reduce the intervention of government within their functional unit. Additionally, it leads them to enrich the brand internal representation among competitors in an better manner. For examining the internal analysis, SWOT analysis plays a vital role that empower them to identify strength in order to cope up with all threat as well as to motive company to make use of available opportunities for enlarging the market division. Strength The foremost strength which Chick-fil-a contains is that they have the largest fast food chain in US marketplace as bit deliver large number of products ranging from breakfast, lunch, dinner and beverages in best quality. Due to this, company can easily place their franchise in UK industry in an aggressive and competitive position within stipulated time period. Weakness
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The key weakness of Chick-fil-a is that they takes less effort in adopting innovation or advancement within its business function which restrict them to cope up with their competitors in an impressive way. However, taking restorative course of act help organisation to achieve sustainable profit ratio in UK marketplace within prescribed time duration. Opportunity As the UK population are highly conscious about health which provide enormous opportunity to Chick-fil-a in context of expanding its sales presentation and also to place the franchise in aggressive or competitive position in UK industry. Threat The industry where Chick-fil-a operate its functional unit is extremely competitory or provocative that impact over its volume of sales and proficiency ratio. Thus, establishment implement best strategic decision that lead them to expand its marketplace share or situation in an awing manner (Junaid and et.al., 2016). TASK 2 Acompetitorsanalysisisdefinedastheevaluationofdifferentcompetitorsand organisations that creates threat for the company. The Porter's Five Forces model is defined as model which is helpful in identifying and analysing the five competitive forces which shapes each and every industry and estimates the weakness and strength of industry. This analysis is used for identifying structure of the industry and determining corporate strategy. The Porter's model is is applied in the organisation for understanding the level of competition and enhancing the long term profitability and efficiency. This model is helpful in analysing various strength and weakness of the company in marketplace. The Porters five forces model is named after Michael Porter. The Porter's five forces model is defined as analysis that is helpful in sustaining different level of profitability. This model was given by Porter in the year 1980. This is used for analysing the structure of industry and corporate strategy. There are basically five unit that show a vital role in defining each and every market and business. These forces are measured for competition attractiveness, intensity and profitabilityofmarket or industry. The restaurant industry has to remain competitive due to the modernisation, supplies and high speed internet as they have to attract a lot of customers. The different forces of Porters five forces are described below - Competition in the industry -The rivalry in the restaurant industry is result of changing consumerproducts,behaviour,risingpriceofcommodities,increaseinthenumberof
competitors and the increase in risk management. For instance, there are Asian, Chinese, German, African, Italian, etc restaurants in US. The high the number of rival, many aggravated is the contending rivalry in the restaurant business. It is difficult for Chick – fil – a to maintain high profitability as it is a small restaurant. There is intense competition as there are a number of fast food franchises and a number of establishments. The fast food giants and marketing budget and product invention will help in maintaining an edge over small counterparts (Kubacki and et.al.,2015). Potential of new entrants into the industry –If any business person wants to open a small restaurant, it is very easy to start this. There is other section which affects the quality of new entry for new restaurants is the economic system. This is constituted when production and other transaction attain efficiency. The new restaurants have to analyse the set costs and operational costs and it is ensured that it can develop cost advantage. Thus, for Chick – fil- a restaurant, it is analysed that there is nopossibility of threat of new entrants. It has maintained strong and effective marketing strategy and that it why it has been able to sustain in market for long time. Power of supplier -The suppliers of restaurant industry includes companies that supply raw material to the restaurants. The number of provider of the restaurant industry examinesthe affect of supplier on the purchasing decision of buyer. The regions that are starred with number of suppliers of same raw constituent, the price is lower for these suppliers. The power of suppliers of Chick- fil- a restaurant is that they are having strong market position and they are serving customers with effective and quality food (McClelland, 2014). Power of customers –The bargaining power of buyer is an essential component that must be considered within a restaurant industry. The restaurant industry is directly impacted by the prime of buyers and customers. It can effect various aspects of a restaurant includingprice, quality of items offered, change in price, etc. Restaurants cannot offer over priced food items. Thus it is essential that Chick – fil – a restaurant has to analyse the needs and wants of customers in an effective manner so that it can increase the level of satisfaction among customers. Also it is essential that this restaurant must know what are the ways of meeting demands of customers. In context of Chick – fil – a restaurant, it is analysed that this restaurant is capable to satisfy the necessarily and supply of customers since some years. That is why it is suitable to fulfil customers requirements in a better way.
Threat of substitute products -There are various sort of restaurant industry and this makes it easier for customers to develop choice when switching from one restaurant to some other. The low switching cost is another part that makes it easier for customer to change the loyalty from a trade name to other. Restaurants cost premium charge to consumers for more economic choices opt for cost trenchant retail store. To remain competitive in market and free from substitutes, it is important for Chick – fil – a restaurant to provide products at affordable prices so that customers can be increased (McDonald and Wilson, 2016). TASK 3 Statements and justifications of SMART Objectives Chick – fil a restaurant wants to increase it's market share by 10% within a year This restaurant will increase the customer satisfaction level by 5% within a month by introducing new dishes in it's menu. This restaurant will hire talented staff that can increase the quality of service. This will help in increasing the profit earned by the company. In this way, market share of the company can be increased. The second objective can be attained by introducing an attractive and new dish in market.This dish will be helpful in attracting a lot of customers to visit this restaurant (Meredith, 2016). A clear segmentation, targeting and positioning (STP) strategy and perceptual map The STP activity show the links between an general market and it tells how an organisation can compete within marketplace.It is defined as process in which first of all segmentation of the customer is done, then the assortment of one or more target markets is done. After that, effectuation of position takes place. The content of the STP procedure is to escort different companies to develop and implement an propermix. The segmentation, targeting and positioning of the Chick – fil – restaurant is given below - Segmentingthemarket–therearedifferentpeoplewhohaveuniquechoices.Market segmentation is used as product, brand or organisation is not everything for all customers. This helps in tailoring approach for meetingneeds of different groups of customers with common needs and characteristics. There are various ways of segmenting target markets. This can be explained with an example, there are different basis on which customers are targeted -Demographic– This means customers are divided on the basis of personal features such as gender, marital status, sexuality, sex, educational activity, line of work, etc.
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Geographic–Thisisdifferentiationofcustomersonthebasisofstate,city, neighbourhood, region, etc.Psycho graphic –This is differentiating by risk aversion, personality, lifestyle or values. behavioural –This segmentation of customers means that the way by which individuals utilitise the good, how much loyal they are and profit that customers are looking at. The Chick – fil a restaurant is choosing the segmentation on the basis of demographic basis. It has divided customers on the basis of their age. The young generation is provided fast food and new fusions in the dishes. On the other hand, the adults of higher age are given healthy and organic food (Pinder and et.al., 2019). Targeting potential customers –According to this step, it is analysed that this includes targeting the customers who fall into category of the above segment of market. This restaurant offers food to all customers including adults and young people. This is ensured that restaurant is introducing food dishes that are based on the needs of young generation and adults. Youngsters are provided fusion dishes. On the other hand, adults are given less oily, healthy and vegan type of food dishes. The PEST analysis is helpful to know what is the best target segment of market that this restaurant can choose. Positioning the offering– This is the last step of STP approach and the maingoal is to denote how this restaurant will place thecommodity fortargeting the most valued customer section. First of all it is considered that why customers select this restaurant for their visit. There isneedforpreparinguniquesellingpropositionanddrawingapositioningmapfor understanding how the target portion understand the services offered by the restaurant. This aid in deciding how foremost to point the offerings of the restaurant. The wants and needs of each segment, or the difficulty occurred while offering service to customers is met. Creation of value propositionis donethat intelligibly justify how substance of the restaurant is going tomeet essential improved than any of your rivalry' products. Marketing campaign are developed and in this way value proposition is appreciated for the potential customers (Sarsby, 2016). TASK 4 Marketing mix is regraded as one of the powerful strategy which render relevant or suitable direction to company in regard of placing, pricing, promoting the product or services. This is because, it empower firm to provide increased level of customer satisfaction. However,
Chick-fil-atakes an initiative in developing a marketing mix so that they can attain sustainable growth in UK market without nay hindrances and it is explained below: Product:This factor can be tangible or intangible form as it mainly centring over quality for providing high level of customer satisfaction in existing industry. In relation to Chick-fil-a, it is one the reputed or branded fast food restaurant chain in American marketplace as it offer everything breakfast, lunch, dinner. Moreover, it also deliver beverages like iced tea, juices, soft- drinks, coffee and milkshakes too. However, company maintain best and high quality for its product that enable them to intensify its sales action inside UK marketplace in an impressive or amentiferous style. Price:It is an important component of marketing mix for which consumer willing to pay with an aim of obtain full satisfaction in an effective manner. IN regard of Chick- fil-a, they keep their product price slightly higher than other competitors which is perfectly justified by their quality of item sold. Moreover, these pricing strategy help them to target higher income groups who are able to pay a certain amount for their offerings. However, premium pricing strategy aid Chick-fil-a to acquire aggressive and competitive position in UK industry among competitors in a desired time period (Srinivasan, Rutz and Pauwels, 2016). Place:This factor is link with those aspect in which it signifies that positioning and distributing the product so that targeted customer can easily accessible to potential buyer in awesome mode.In relation of Chick-fil-a, it has a wide geographical presence with its outlets like in Canada, South Africa, USA and many more. However, by placing the product in all potential location enable Chick-fil-a to attract more consumers towards their brand in an improved way. However, the initiation of establishing its franchise in UK market help company to improve its whole productivity or profitableness ratio in productive style. Promotion:Under this component, it states with promoting or enhancing the brand value of particular product in a targeted marketplace by acquiring different promotional strategies. Hence, in context of Chick-fil-a they promote their product by adopting public relation, e-mail marketing, TV, radio, billboarding and hangings which assist them to capture large number of population towards their brand. Furthermore, they also make use of online platform to advertise their product in an attractive way. Therefore, Chick-fil-a can obtain profit maximisation within UK industry by utilising these promotional strategies that empower them to reach big figure of consumer in an improved style.
Process:This marketing mix comprises with system and processes of an organisation for accomplishing its pre determined goal in an efficacious manner. In relation to Chick-fil-a, they followsasimpleprocessfor operatingitsmanagerialandoperationalbusinessfunction. Moreover, they make an effort to identify the personnel skills and based on that delegate them roles and responsibilities. Additionally, they render proper training program that drive each manpower to develop their abilities and motive them to pose their best endeavour towards an achievement of pre defined objective in an amended way (Wang, Zhang and Yang, 2014). People:This element plays a integral role in marketing mix as they are relate with those manpower who impose their full attempt for an achievement of organisational goal in a prescribed time limit.IN context of Chick-fil-a, they contain highly proficient and talented personnel who make an initiatory in providing novel ideas for the enlargement of company's market share or size in UK industry. Physical evidence:This component id link with outer ambiance, working culture of firm which influence establishment productivity and brand image among competitors. IN case of Chick-fila-a, they contain impressive and attractive interior and outer design of its outlet which attract more customer towards the brand. Moreover, the way Chick-fila-a welcomes its guest is also effective that lead them to attain positive response in UK industry also. With the help of that, they can elaborate its market share or size in an amended or creative style. CONCLUSION It has been signified from the preceding document that understanding the concept of marketing plan plays a significant role as it help organisation to make use of available opportunity in an improved way. This is because, it lead them to accomplish sustainable profitability and productivity ratio in a amended mode in competing industry. Moreover, analysis of marketing environment aid establishment to implement best strategic decision for gaining competitive advantage in a desired time duration. Furthermore, developing a marketing mix also benefit company to place their product or service in a right position so that they can easily reach targeted customers in an efficacious and expeditious mode.
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