5MK006 Marketing Plan & Situational Analysis: Pret A Manger

This report offers a comprehensive marketing analysis of Pret A Manger in the UK market. It begins with an executive summary and introduction to the company, followed by a situational analysis that examines both internal and external factors impacting the business. The report includes a SWOT analysis to identify Pret's strengths, weaknesses, opportunities, and threats, as well as a PEST analysis to assess the political, economic, social, and technological factors influencing the company. The marketing mix is discussed, covering product, place, price, and promotion strategies. Finally, the report provides an STP analysis, detailing Pret's segmentation, targeting, and positioning within the market. The report concludes with a discussion of the findings and their implications for Pret A Manger's marketing strategy. The analysis considers the growing vegan market and the company's response with Veggie Pret, along with competitor analysis.

Marketing Planning and Conducting Situational
Analysis on Pret A Manager
Module Code and Title : 5MK006 Marketing Planning
Module Leader: Dr Mohammad Mahdi
Student Name:
Student ID:
Word Count: 2059
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Executiive Summary
The foodservice business in the United Kingdom contributes significantly to the overall
economy of the country. Despite the fact that there are a large number of businesses
with similar structures and that supply equivalent products at comparable prices, there
is tremendous rivalry in the market. A growing consumer trend has been identified, and
customers are increasingly turning to veganism. It has been estimated that there are
600,000 vegans in Great Britain, according to the findings. As a result of the debut of
Veggie Pret, a new venture that serves to the enormous demand for vegan meals, Pret
AM is outraged. This report includes a marketing plan that gives an insight of the
external environment, as well as consumer desires and behavior. It also contains
information on Pret's competitor, as well as its STP, which is necessary for the
successful implementation of the marketing plan.
Table of Contents
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Executiive Summary.........................................................................................................2
Introduction........................................................................................................................4
Situation Analysis.............................................................................................................5
SWOT Analysis for Pret...................................................................................................6
Strengths................................................................................................................................7
Weakness...............................................................................................................................7
Opportunities..........................................................................................................................7
Threats....................................................................................................................................7
PEST Analysis for Pret.....................................................................................................8
Political....................................................................................................................................8
Economical.............................................................................................................................8
Social......................................................................................................................................8
Technological.........................................................................................................................9
Marketing Mix....................................................................................................................9
Product....................................................................................................................................9
Place.......................................................................................................................................9
Price........................................................................................................................................9
Promotion.............................................................................................................................10
STP Analysis of Pret.......................................................................................................10
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Segmentation.......................................................................................................................10
Targeting...............................................................................................................................11
Positioning and Differentiation..........................................................................................11
Conclusion........................................................................................................................12
References.......................................................................................................................13
Introduction
This report aims to bring out an analysis of Pret a manager in the UK market. Pret A
Manger was founded by two college mates, Sinclair Beecham and Julian Metcalfe (who
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also founded Itsu – a sushi bar/restaurant) in 1986. Prêt is a sandwich shop based in
the United Kingdom, although it has now expanded its operations to include other
countries. 'Prêt a Manger', which means'ready to eat' in French, is the name of the
company. From the starting of its business it has been trying to provide the best
services to its customers. The amount of influence it has on the marketing of its
products in the United Kingdom can be determined by conducting some marketing-
related research. To reach its goal, this study will undertake consumer and product
research as well as SWOT and PEST analyses as well as a competition analysis,
among other things..
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Situation Analysis
As explained by Smith and Taylor (2018), a thorough examination of the existing
situation in which the business finds itself serves as the foundation for identifying
opportunities to meet newly identified client requests. Due to the fact that it is carried out
on a constant basis throughout the entire process, the marketing audit is an extremely
important operation in marketing planning. It also has a substantial impact on the
campaign's performance. An ongoing marketing audit should be performed throughout
the entire process to ensure that it is effective (Dawson, 2019). The organization will
study internal aspects while also anticipating stakeholders and external concerns that
will need to be taken into consideration in order to achieve this goal. The Chartered
Institute of Marketing describes conducting a marketing audit as an opportunity to
analyze and appraise your entire marketing activity, which allows you to assess past
and present performance as well as lay the groundwork for analyzing potential future
courses of action, among other things. The bulk of the time, marketing audits can be
divided into two types: (1) qualitative and (2) quantitative. The term "microenvironment"
refers to the forces that exist close to a company's location and have an impact on the
company's ability to provide good customer service.
Focusing on internal business experiences, over which an organization has entire
control, provides a chance to improve the operations of the organization.
When we speak of the macro-environment, we are referring to the larger socioeconomic
effects that have an impact on the entire micro-environment as a whole.
There are external factors over which a business has little or no control, and which, if
they change, can have a negative impact on the organization's performance if the firm is
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not prepared.
SWOT Analysis for Pret
The Stanford Research Institute developed SWOT analysis as a way for assessing a
company's strengths and weaknesses. It compiles all of the evidence gleaned from the
many approaches of analysis and presents the most basic and valuable data for
growing a firm, achieving marketing goals, and the process of bringing new products to
market Using a SWOT analysis, Prêt identifies the company's strengths and positions,
which are abbreviated Strengths. Weaknesses that the corporation must address
internally in order to preserve its best potential public image The organization can take
advantage of both opportunities and threats.
Strengths
Prêt is well-known for its natural ingredients and handcrafted sandwiches, as well as its
impeccable service, which is centered on the company's commitment to the quality of its
products and its clients (Dawson, 2019). Delivery and online ordering are also offered
by the sandwich shop, which is a provision not offered by many other establishments.
Thus, the advantages of Hoi Sin Duck Wrap may help to increase sales of the product
again and again.
Weakness
In terms of sandwich shops, Prêt is up there with the most costly in the world. Because
the company primarily serves a specific demographic, it can only open up shop in
wealthy neighborhoods (Bradley, 2017). Customers cannot eat in prêt stores since they
are typically small and lack enough seating. Thus, Hoi Sin Duck Wrap sales are unlikely
to be high.
Opportunities
Prêt is not a franchise. There is a possibility that you may use this chance to franchise
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out, which would benefit both Prêt and the corporation financially. There aren't many
advertisements in Prêt. The importance of advertising cannot be overstated — Prêt
should seriously consider advertising on television and in newspapers, for example
(Brennan and McDowell, 2020). As a result, getting your hands on a Hoi Sin Duck
Wrap is next to impossible.
Threats
Potential competition in the market. Many competitors, e.g., Starbucks, give out
discount coupons. When it comes to purchasing, customers are aware of what they're
getting themselves into (Smith and Taylor, 2018). As a result, the product life cycle of
Hoi Sin Duck Wrap is expected to be short.
PEST Analysis for Pret
Political
This reduces the likelihood of one agency gaining undue influence. It slows down and
costs more to do business and receive certificates (Bradley, 2017). The administration
has a strong record of adhering to international treaties. This ensured uniformity in both
the rule of law and regulations.
Economical
Flows of cash into global financial markets - The Federal Reserve's quantitative easing
program has inundated the global financial markets with liquidity. Pret Shops can
borrow cheaply in certain instances (Larivière-Gauthier, 2013). Risky if interest rates
rise. In terms of politics, the country's government runs deficits. Pret Shops' short-term
revenues have the ability to expand as well, but the company is exposed to medium-
term currency issues. Gini Index - The Gini Index and inequality are key societal
indices. High wealth gap increases conflict and crime. Short-term and long-term
consumption suppression can result.
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Social
Gender Parity at Work For example, Pret shops can use the gender composition of the
labor market to analyze the liberal nature of society, the rights of women, and the impact
of women. on societal concerns and consumption choices It reflects household
disposable money, priorities, and related demands. Savings Culture - While China's
savings rate is about 30%, the US average is substantially lower at 15% (Brennan and
McDowell, 2020) . This culture effects both consumption type and quantity. The quality
of products and industrial processes often reflects health and safety attitudes. Pret
Shops' rigorous health and safety standards may force them to compete in growing
markets with firms with lower expenses.
Technological
Technological innovation increases the chance of creating a self-sustaining creative
environment. Pret a Manger may use this to hire top talent. Uber failed in China due to a
lack of telephones. Work with the ideals, infrastructure, and business model of society.
Pret Shops should investigate emancipating supply chain partners (Bowie and
Mariussen, 2016) . This can help Pret's supply chain transparency. A new product from
Pret Shop must consider how society uses technology. When a corporation first enters
the market
Marketing Mix
Product
Prêt prepares Hoi sin Duck Wraps in the traditional Cantonese way. There is shredded
roast duck in this wrap as well as hoisin sauce, red onions, cucumber, leaf spinach, and
mayonnaise. Larivière-Gauthier (2013) describes the wrap as containing nuts, being
sesame-free, dairy-free, GM-free, and high in protein. The fact that every Pret
restaurant has its own kitchen ensures that the product is always fresh and wholesome.
Unsold items will not be resold; instead, they will be collected by a charitable
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organization and distributed to the less fortunate.
Place
A minimum of £30 is required for this product to be distributed via service providers and
direct marketing through the company's website (Liu and Warnaby, 2016). Affluent
areas, such as cities, are ideal locations for this product to be sold because the target
audience is likely to engage in the desired behavior. This product is especially popular
during the lunch hour.
Price
Because of the properties it contains, this product is rather expensive, with each unit
costing £2.95 (Aaker and Moorman, 2017). A cost plus price is defined as the average
cost of a product and service plus a profit margin; a high markup over the cost of a
product and service is reflected in this price.
Promotion
Product promotion by word of mouth is accomplished by informal discussion about the
product by ordinary folks such as satisfied customers or those who have been specially
engaged to generate word of mouth momentum (Bowie and Mariussen, 2016). Word-of-
mouth is frequently influenced by the actions of sales personnel. This marketing
comprises flyers, store windows, and its own website, and it is aimed at older people,
middle-class people, and upper-class people, among other demographics.
STP Analysis of Pret
Segmentation
In the case of Pret Shops, Using market segmentation techniques, marketing managers
can divide a big market into smaller segments based on the wants, features, and
consumer behavior of a diverse range of customers, like in the case of the Pret Shops
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franchise (Soegoto, 2021). Market segmentation, in general, refers to the technique by
which marketing managers can divide a large market into smaller divisions by applying
certain criteria to each section. For the purpose of providing a more personalized
experience to its customers, Pret Shops may use the following factors to identify and
segment their customers: Beyond physical geography and demographics, other
elements taken into account are usage and user status, income and way of life, value
proposition goals and benefits desired by customers, among the elements considered
are: loyalty status and gender; social class; one's own view of oneself; psychographic
factors; and other attitudes. A multivariate segmentation system developed by Claritas,
Prizm, has become one of the most widely used multivariate segmentation systems
currently available on the market.. There are a large number of marketing and
advertising agencies that make considerable use of it. According to statistics from the
Household Purchasing Preferences survey in the United Kingdom, it is composed of 68
different client categories.
Targeting
As soon as the overall market has been split into many categories, Pret Shops must
decide which target section or segments to concentrate their efforts on (Bowie and
Mariussen, 2016). As a result, it is preferable for goods not to try to be all things to all
people because goods can only provide unique value propositions in specific situations.
Positioning and Differentiation
By comparing its products and services to those of its competitors, Pret Shops
distinguishes itself from the competition. Pret Shop items and the brand are
differentiated by their distinct traits, attributes, and functions in the eyes of their target
clients. According to the case of Pret Shops, marketing managers are tasked with the
following responsibilities: identifying an advantageous competitive position or a
distinctive value proposition on the basis of which the brand is to be positioned in the
minds of consumers; developing a marketing strategy; and conducting consumer
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market research (Liu and Warnaby, 2016). It is a difficult challenge to determine which
competitive advantages are most appropriate for Pret Shops' marketing approach. To
acquire a better grasp of the competitive positioning of other brands on the market,
marketing managers at Pret Shops can create their own perceptual maps from scratch
(Aaker and Moorman, 2017). Because of this, every company's marketing and
promotion efforts must be focused on establishing the brand as a higher-value supplier
to the target category, as well as on effectively communicating that position to clients
through the use of the marketing mix and promotion mix.
Conclusion
It was Pret a Manager, who worked as a supervisor in the United Kingdom market, who
was the subject of this investigation, which was scheduled to be publicized. Initially, it
was just a sandwich shop in the United Kingdom, but it has since expanded to
encompass operations in a number of other countries across the world. According to the
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company's website, its name translates as "ready to eat" or "ready to serve," and it
derives from the French term "prepared to serve." In order to deliver the greatest
services to its clients possible, the company has put forth significant effort since the
beginning of its operations. It is possible to establish the extent to which a company's
marketing efforts have an impact on the marketing of its products in the United Kingdom
by performing marketing-related research. As part of its attempts to reach its goal, this
study conducted consumer and product research, as well as SWOT and PEST
assessments, as well as a competitive analysis. Furthermore, it was via the application
of those findings that the study's ultimate goal was accomplished.
References
Aaker, D.A. and Moorman, C. (2017) Strategic market management. John Wiley &
Sons.
Bowie, D., Buttle, F., Brookes, M. and Mariussen, A. (2016) Hospitality marketing.
Routledge.
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Bowie, D., Buttle, F., Brookes, M. and Mariussen, A. (2016) Hospitality marketing.
Routledge.
Bradley, N. (2017) Marketing research: tools & techniques. Oxford University Press,
USA.
Brennan, R., Canning, L. and McDowell, R. (2020) Business-to-business marketing.
Sage.
Chan, H.L., Shen, B. and Cai, Y. (2018) Quick response strategy with cleaner
technology in a supply chain: coordination and win-win situation
analysis. International Journal of Production Research, 56(10), pp.3397-3408.
Dawson, J. (2019) Food retailing, wholesaling and catering. Food supply chain
management, pp.117-135.
Larivière-Gauthier, G. (2013) Détection et caractérisation génétique de Listeria
monocytogenes dans une usine d’abattage/découpe de porcs au Québec.
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dilemma of brand communications for luxury fashion retailers' internationalization
into China. Journal of Business Research, 69(1), pp.357-364.
Smith, P.R. and Taylor, J. (2018) Marketing communications: an integrated approach.
Kogan Page Publishers.
Soegoto, F.A. (2021) Product Development using SWOT Analysis. International Journal
of Entrepreneurship & Technopreneur (INJETECH), 1, pp.1-10.
Uslu, Y.D., Hancıoğlu, Y. and Demir, E. (2015) Applicability to green entrepreneurship in
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