MKT1MDP: Analyzing the Fast Food & Takeaway Industry Market

This report provides a comprehensive market analysis of the Fast Food and Takeaway industry, focusing on the Australian market. It begins with an introduction to the industry and its significance, followed by a detailed macro-environmental analysis using the PESTLE framework, examining political, economic, social, technological, legal, and environmental factors impacting the sector. The report then delves into segmentation analysis, exploring demographic, psychographic, geographic, and behavioral segmentation strategies. Based on these analyses, the report offers recommendations for industry players to focus on specific segments for future success, emphasizing the importance of demographic, behavioral, and psychographic segmentation tactics to enhance profitability and customer retention. The conclusion summarizes the industry's competitive advantages, the impact of external factors, and the potential for increased revenue through targeted market segmentation. Desklib provides access to this and many other solved assignments.

FUNDAMENTALS OF
MARKETING

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
TASK ..............................................................................................................................................3
Macro-environment analysis........................................................................................................3
Segmentation analysis..................................................................................................................5
RECOMMENDATIONS.................................................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Marketing is defined as one of those procedures that a marketer, while performing within
their company follow and conduct activities related to that, in order to attract customers and
promote ventures offerings worldwide. It also refers to a process of getting potential target
market interested in existing goods or services. In term of procedure, this activity provide a lot
of advantages to the organization, for which marketer conduct promotional practice, develop
plan and implement product or venture advertising tactic.
The current assignment will be based on Fast food and Takeaway industry, which falls
under the category of leading and profitable industries in Australia. By offering tasty food items
such as cooked chicken, sushi, etc. sector grow rapidly, but due to some external forces its
progress has been affected. The study will explain macro environmental and segmentation
analysis. Furthermore, on the basis of these analyses, suitable recommendations will define
lastly.
TASK
Macro-environment analysis
In order to identify several forces, macro environmental analysis is conduct in the context
of many sectors, which enable a sector to determine which factor put impact on their venture and
how. Here, this analysis through strategic model like Pestle conducted in regard to Fast food and
take away industry.
Political factor-
Fluctuation related to political factors such as trade policy, tax rates, strategic
governmental policies and regulations, may put direct impact on current activities and
functioning of organizational operations. In case of fast food & take away industry, the biggest
change related to Australian government bodies and practices occur and that is critical decision
of lock-down in term of shutting down all the category of ventures, due to prevent world from
being infected of corona-virus. This kind of transformation may put negative impact on chosen
sector as it may lead to decrease its profitability, sales and productivity. It can be said that
national and international authorities imposed strict restriction related to operations of food &
beverage sectors.
Economic factor-

Any type of change related to economic factors like unemployment, economic growth,
income level and inflation affect a sector in term of who it works and what strategy it may
change to be competitive and productive in the business world (Banerjee, 2021). For example,
Fast food and take away is one of those industries that may be affected from household
discretionary incomes. Within Australia, increasing discretionary income of Australian may
drive their attention towards placing orders for guest, especially at functions or specific events,
instead of preparing meal at home that is a time-consuming activity. This factor may put positive
impact on industry in term of increasing its sales and number of customers.
Social factor-
A change related to customers preferences, buying behaviour, health concern and market
trends affecting current practices of management that they may conduct while working within an
industry. In case of Fast Food & Take Away sector, health consciousness as social factor among
people may put negative impact on industry, as it may lead to decrease its sales and food supply
extent. Due to healthy diet habit, individual buyer now prefer to consume healthy and nutritional
supplements, which lead to decrease fast food demands. Increasing extent to which people adopt
health consciousness concept may reduces demand for unhealthy good items such as pizza,
nachos, hamburger, chips, etc.
Technology factor-
Technological advancement as external factor may put positive impact on industry and its
sales. For example, it contributes to increase sales and productivity of venture as well as
operational effectiveness of sector. By using advance technologies such as digital marketing
tools like social media, marketer may generate excellent brand awareness that help to increase
profitability and gain the attention of profitable customers. Furthermore, it can be said that digital
technology usage at workplace may enhance efficiency of industry to promote its quality
services and products worldwide. Due to this factor, it may also take order online quickly
without wasting too much time.
Legal factor-
Changes related to Customer and competition Act 2010, may affect food and take away
industry practices negatively as it may lead to decrease its effectiveness and efficiency. This
regulation may regulate trading standard of sector, including deceptive and pricing conduct.
According to new terms government within nation where chosen venture has established its

business and conducted operations, put pressure to reform current operations activities, which
emerge as the biggest threat for management. It may drive their attention toward considering
each change within which they comply forever. This factor may put a lot of pressure on
stakeholders to make further transformation.
Environment factor-
Consumers and government concern related to animal well-being and environmental
sustainability, may put positive impact on industry. As it drives the attention of management
towards conducting those practices through which they may contribute to make environment
sustainable. Their CSR activities may help to prevent environment and beauty of nature from
those harmful factors that put negative influence on that. It may contribute to build excellent
image of sector in the business world, where other sectors are effort to do so, which is not that
easy for them, as it require a lot of things that management taken into their considerations.
Segmentation analysis
Market segmentation analysis is defined as process of examining suitable customers to
which a service or product may be targetted. There are varied forms of tactics or forms
accessible in the business world related to segmentations, which chosen industry and its
management may consider according to category of products they plan to offer (What is Market
Segmentation? Different Types Explained, 2021).
Demographic segmentation-
As compare to psycho-graphic segment, this one of much better because it may provide
management chance to target those people who may able to purchase fast food items and place
order to buy each, instead of those who may change their buying behaviour according to
psychological thinking (Witek, & Kuzniar, 2021).
Psycho graphic segmentation-
It is another segmentation example or form exist in Fast Food and Takeaway industry,
which as opposite to demographic and other is better in regard to range of food products that
people may prefer to buy and eat (BABU, & RAO, 2020) According to that, management and
marketer may focus on targetting customers on the basis of what they prefer to eat accordingly
lifestyles, their values, etc.
Geographic-

It drives the attention of management towards focusing on those elements, through which
they may target a specific group of customers (George, 2021). For example, potential buyers
neds, interests and preferences, instead of lifestyle which individual customer adopt and change
rapidly.
Behavioural segment-
This type of segmentation may enable sector to divide markets by analysing their
attributes and decision-making patterns such as consumption, buying, and usage of goods &
services.
Fast food and takeaway industry may offered its goods to each segment on the basis of
components that they may encompass. It may target all customers, from age of 18 to 50.
Forecast-
In the future, the demand of fast food or take away products may increase rapidly as
people may prefer to order foods online instead of consuming time to cook for special occasion
by considering differ demands of family or guests.
RECOMMENDATIONS
 Fast Food and Takeaway industry can choose the most effective and profitable segments,
which it effort to sever its products and make changes related to that in the future.
 For example, management can select and utilize demographic, behavioural and psycho-
graphic segmentation tactics, through which they can increase profitability and
productivity of venture even better than last few years.
 According to these strategies, they can target people above age 50, who take interest to
eat fast food and prefer to pack and carry especially when they came out of home or
offices to travel.
 Pack food products are easy to keep and do not require waiting for too long as individual
can place their order before they reach at a restaurant or cafe.
 In the future, management within sector may concentrate on segmenting individual
customers by considering their attribute related to takeaway food facility, lifestyle and
decision-making patter.
 By targeting customers on the basis of several elements, industry can effort to retain and
attract potential consumers, who are able to increase the sales, revenue and profitability
of business.

CONCLUSION
On the basis of above discussion, it has been concluded that industry has gained
competitive advantages and build wide customer base, by targetting the most profitable group of
consumers and selling products according to their needs and taste preferences. Management
within industry has obtained a lot of advantages as they made venture capable to increased its
productivity. Furthermore, from above analysis, it has been identified that management has
overcome the negative impact of varied external factors and identified who each impact business
growth, by using PESTLE analysis as strategic framework. It has grabbed the competitive
benefits by enhancing customer satisfactory level.
Moreover, by summing up above discussion, it has been summarized that by following
above suggestion based on segmentation analysis, industry management has targetted potential
market segment, which they consider while preparing a meal that helped to increase venture
sales, profit margin and enabled it to generate excellent revenue.

REFERENCES
Book and Journals
Banerjee, S. (2021). A Comprehensive Review on the Economic Status of the Global
Convenience Food Industry. International Journal of Business, Management and Economics.
2(1). 43-52.
Witek, L., & Kuzniar, W. (2021). Green Marketing: The Effectiveness of Socio-Demographic
Variables for Explaining Green Purchases Behavior in Emerging Markets. European Research
Studies Journal. 24(2). 1070-1080.
BABU, D. S., & RAO, D. B. S. P. (2020). PSYCHO-GRAPHIC SEGMENTATION OF THE
CUSTOMERS IN INDIAN ONLINE FOOD AND GROCERY RETAILING. Journal of
Critical Reviews. 7(11). 3407-3412.
George, R. (2021). Market Segmentation, Targeting, and Positioning. In Marketing Tourism and
Hospitality (pp. 221-246).
Online
What is Market Segmentation? Different Types Explained. 2021. [Online]. Available Through:
<https://www.qualtrics.com/au/experience-management/brand/what-is-market-segmentation/>