Strategic Marketing Plan: Five Guys in Singapore (Private Education)

This report presents a one-year strategic marketing plan for Five Guys, a popular American fast-food restaurant, focusing on its potential expansion into the Singapore market. The plan begins with an overview of the company and its current operations, followed by a SWOT analysis identifying its strengths, weaknesses, opportunities, and threats. Key weaknesses, such as limited global market presence, are highlighted. The report outlines specific, measurable, achievable, relevant, and timely (SMART) marketing objectives, including targeting full-time students in Singapore's private higher education sector. A detailed marketing mix (4Ps – Product, Price, Place, Promotion) is developed, considering product offerings (burgers, fries, etc.), pricing strategies, optimal locations, and promotional activities. A sales forecast and financial considerations are also included. The report aims to provide a comprehensive strategy for Five Guys to successfully enter and thrive in the competitive Singapore market.

Running head: Strategic Management
Strategic Management
Name of the Student:
Name of the University:
Author’s note:

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Table of Contents
Introduction......................................................................................................................................2
Overview of the Company...........................................................................................................2
SWOT Analysis...........................................................................................................................2
Marketing Objectives of the Company........................................................................................3
Target Segment of the Company.................................................................................................4
Marketing Mix (4PS’)..................................................................................................................5
Sales Forecast............................................................................................................................10
Control Measure........................................................................................................................12
Reflective Statement..................................................................................................................12
Conclusion.....................................................................................................................................14
Reference.......................................................................................................................................15

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Introduction
Overview of the Company
Five Guys is an American fast food restaurant which is headquartered in Lorton, Virginia
which is an unincorporated part of Fairfax County. The founders of Five Guys are Jerry Murrell
and Janie Murrell. The restaurant was established in the year 1986 in Arlington County, Virginia
and by 2001, the chain has expanded to five locations throughout the Washington, D.C metro
area. The restaurant chain focuses on offering hot dogs, hamburgers and French fries (Choi and
Reid 2018). There are over 300 franchised locations of Five Guys in the year 2003, and gradually
as of 2016, over 1,500 locations worldwide were opened by Five Guys.
SWOT Analysis
The SWOT analysis helps the organization to understand the external and internal factors
affecting the company; the SWOT analysis includes strength, weakness, opportunities and
threats.
Strength:
Strength
The company is the fastest growing business in the
United States with 1500 locations and with turnover
crossing over $5000 and the bottom line crossing
over a mark of $600.
It has popularity due to the quality of food and fresh
made-to-order food that is being served to the
customers.
The restaurant five Guys are at high reputation and
at top pick among the other competitors in the
Weakness
The brand has least recognition in the
global market and also has low market
share when compared to other successful
competitors.
The business is showing a little bit of
resistance to come up with new and
expanding its menu.
There is no proper advertisement of the

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Washington D.C.
Opportunities
Good opportunity to expand and create
innovativeness in their menu items.
Starting advertising and good opportunity to
promote their business.
Focusing on healthy meal could bring new change in
the business.
restaurant and people are not aware of the
business.
Threats
Increasing competition can affect the
market share of the business.
The franchise model may lead to dilution
of standard of quality and consistency in
their service.
People are being more health conscious
therefore; the type of food provided by
the business is being ignored.
The main issue in the business Five Guys is it has limited itself to some area and not in
the global market. In order to take over the market within one year with the new products the
business needs to focus on primary weakness associated with the company. There is no doubt
that Five Guys is at its peak point and have the highest turnover of $5000, but at the same time
its productivity is declining due to various other reasons (Baker 2016). Therefore, the company
needs to adapt some changes in order to sustain the market. Therefore, the company can start
from changing its menu with new innovativeness and adapting healthy food such as salad, juice
and so on.
Marketing Objectives of the Company
1. To take over the global market, primarily Singapore at present
Five Guys is very popular in United States, but it is facing some challenges with the
global market. M.C Donald its competitor has taken all over the international market, therefore

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the company Five Guys is trying competing strategically with its competitor. Its objective can be
defined by SMART objective. SMART objective is a principle which helps to define a
company’s objective. The principle which can be well applied to define the following objective
of Five Guys is Achievable, Relevant and timely (Inc 2019). The objective must be feasible in
nature in order to achieve the goal of the business. Timely refers to the time taken by the
business, in order to achieve the goal the business must do it in less than one year. Relevant
refers to the purpose of the objective.
2. To attract the customers, the target segment is full time customers.
The second objective is to attract the potential customer, the business is targeting full
time student in Private higher Education in Singapore. The principles of SMART which must be
applied in order to define this objective are specific, measurable and achievable. The objective
must be very specific about the target segment.
3. To build and bring spark of an excitement about the new store launch in Singapore.
Since, the company is focusing on establishing a new business in Singapore; it must
focus on the Singapore people, suppliers, potential customers and their brining attention towards
the business. The SMART principles which could define the company objective are timely,
specific and achievable.
Target Segment of the Company
The business primarily focuses on targeting the full time students of private higher
education in Singapore. It would be profitable to target this segment as, the business Five Guys
primarily offers burgers and fries which are mostly preferred by students of the age 16 to 18. The
may gain more profit as the students or the children of this age are somehow obsessed with both

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junky and healthy food, but keeping this in view the business is also focusing on healthy vegies
and salads. In order to attract the students, the business needs to distribute templates and smart
flyers (DeSarbo, Blanchard and Atalay 2017). The business can embrace big events in order to
make aware of the restaurant within the target segment.
Marketing Mix (4PS’)
Marketing mix refers to the combination of different marketing factors that induces the
customers to buy the products. These factors are controllable by the organisation. It means
putting the right products and services at the right places in the right time and at right price.
Every organisation must prepare a proper marketing mix in order to get a success. The mix is
generally composed by 4 Ps- Product, Price, Place and Promotion (Barrows, Vieira and DiPietro
2016). Five Guys should also set up their marketing strategies in a manner that would lead to a
greater success in the coming future. The below paragraph discusses about the marketing mix
strategy that can be implemented by the organization.
The objective of preparing the marketing mix is to respond to the saturated and dynamic
condition of the fast food services globally. It basically aims at maximizing the competitiveness
against all the existing players in the market like McDonald’s, Wendy’s, Burger King and many
such restaurants. The marketing mix will help the organization in achieving its long term goal of
reaching the top position in the fast food industry.
Product -
Products are meant to fulfil the satisfaction of the humans. Most of the burger segments sell
inferior junk foods that are not always good for health. Under this circumstance, the Five Guys
can take a major role by providing huge variety of healthy foods.

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i. The organisation already has a wide variety of foods that can be classified as luxury
and healthy. They offer good quality burgers and hot dogs and fries that are made
with peanut oils.
ii. They do not use exotic ingredients and gourmet options. They keep it simple by just
putting two burger patties between home-baked buns. The customers are allowed to
customize the product by using some extras and toppings.
iii. The other food products that organization serves are sandwiches and milkshakes and
all Coca-Cola soft drinks.
iv. There are however no product in the sweet or desserts line, that is to be emphasized
upon.
v. In order to sever in the eastern parts it can also serve chicken and fish burgers. This
would bring in more customers because of the new taste. It can also use these items as
alternatives.
Place-
Placement plays an important role in the distribution of the products and the services
being offered by the organizations. The correct product requires being in the right place in a
manner so that they are easily delivered to the ultimate consumers. The target group is
required to be made at first. Most of the countries that the organization serves are developed.
So the company can move on to the developing countries like Singapore and expand their
venture. Singapore is very famous for all eastern cuisines, but it is evident that Singapore
people do favour burgers and fries. Therefore, the restaurant does have a good opportunity to
underpin their business in Singapore (TODAYonline 2019). Although, it can be tough to
establish a business in Singapore due to its competitors based on data from market research

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“firm Euromonitor International, McDonald’s had the largest market share (40 per cent) in
Singapore last year — way ahead of its closest rival, KFC (13 per cent). In its report, the firm
included convenience store chain 7-eleven, which came in joint-third with Subway, with both
having 6 per cent of the market share, Next was Burger King (4 per cent), followed by Pizza
Hut (3 per cent). The Soup Spoon, Pasta Mania and Long John Silver’s each has a market
share of about 2 per cent” (TODAYonline 2019). Therefore, the business needs to plan
strategically to compete with the tough players in the international market. A clear
understanding of the target market is to be acquired inside out and it will then help in proper
positioning and distribution of the product. The company has a number of franchisee and
other distribution techniques. It can use this process in the developing areas as well where the
people are generally busy and prefers fast food to a greater extent. The franchisee stores
should be located in the areas where the target group are found in abundance. It does not
only include stores and restaurants but also include mobile applications and delivery websites
that help in the removal of the middle men. The organization can also offer special discounts,
gifts and freebies in order to increase the customer satisfaction and to increase the sales. It is
evident that Singaporeans’ were seemingly insatiable appetite for fries and burgers and has
helped the fast food sector to buck up the overall trend in the food and beverages industry
and the sales have expanded between 2016 to 2018.
Promotion –
Promotion is one of the most important marketing mix functions. It is the factor that
helps in increasing the customer’s knowledge about the product. The customers will always
be unaware about the products and services being offered by the company if proper
promotion is not done. Promotion includes – advertising, public relations, personal selling,

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sales promotion and social media as well. Rigorous advertisements are required in the
developing areas where there are already a number of competitors in the market. Although
the company has positioned itself as one of the authentic healthy burger seller yet an audio-
visual advertisement will make things look more appealing and realistic (Serrat 2017). The
advertisements are required to be done through TV channels using celebrities who are health
conscious. Personal selling is always one of the best ways of promotion that the company can
use. The seller can personally tell about the benefits and the tastes of the different food items
that are being ordered by the customers (Choi and Reid 2018). The customers might be
unaware of the food taste and its health benefits and hence personal selling is effective in that
case. The company also tries to maintain a healthy customer experience and relationships,
which requires the staffs to be well mannered and professional. In order to do this the
company has already created the secret shopper concept where each branch is visited by
certain mysterious people twice a week and the employees are rated as per their service
quality (Serrat 2017). Those who are rated as most courteous and professional receives bonus
that increases their motivational level, which in turn increases the service quality that boosts
the customer satisfaction. The company can also make use of Social Media. Social media is
highly used in the developing countries and people nowadays are always engaged into smart
phones. These smart phones always have a net connectivity and hence people are connected
to social media 24 X 7. The organization can therefore create attractive and creative contents
and post in the social media that will increase the footfalls. The company can also engage in
some CSR activities that will help them in gaining the customer’s support. People will feel
that the organization is responsible towards the society and will believe in the products and
the services being offered by the organization.

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Price –
Pricing is one of the most important and difficult task. The profit of the organisation
can be determined by a proper pricing system. A small adjustment in the price will have a
great effect in the profitability and the demand. The pricing strategy that the company should
adopt must be based on the cost leadership strategy. This would help them minimize the costs
and increase the revenues. The pricing strategies that the organization can use are –
i. Market – Oriented Pricing Strategy
ii. Bundle Pricing Strategy
iii. Premium Pricing Strategy for special burgers, hot dogs and sandwiches.
iv. Penetration pricing
Bundle pricing for Coca-Cola and fries or burger and fries like buying one and getting one
free, students are attracted to this type of offers and price. The penetration pricing will be
beneficial for creating initial awareness in the minds of the customers. The premium pricing
strategy is for special burgers and hot dogs where the price is higher than the other products.

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Sales Forecast
January
February
March
April
May
June
July
August
September
October
November
December
0
5000
10000
15000
20000
25000
30000
Expense Forecast
Series1 Series2 Series3 Series4 Series5 Series6
Figure 1:
Source:
The following is the expected expense forecast which can occur in a year’s time. The
green bar is the investment or cost of Advertisement. While the blue bar is the marketing cost
and the orange the website cost. As it is seen that the firm incurred expense in advertisement in
January and June. With almost variable marketing cost around the year. The cost of website was
only fixed around the year.

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January
February
March
April
May
June
July
August
September
October
November
December
0
10000
20000
30000
40000
50000
60000
70000
80000
90000
100000
Sales Forecast
Series1 Series2 Series3 Series4 Series5 Series6
Figure 1:
Source:
As shown in the above chart the Sales for the Year is in the increasing trend and is expected to
grow exponentially throughout the year.