Marketing Strategies of Pret a Manger: Summative Assessment Report

This report provides a comprehensive analysis of Pret a Manger's marketing strategies. It begins with a company overview, including its mission and vision, and then delves into STP strategies, examining market segmentation, targeting, and positioning. The core of the report focuses on the marketing mix, detailing each of the 7Ps (Product, Place, Price, Promotion, Process, People, and Physical Evidence) as they apply to Pret a Manger. The report also includes a discussion of the company's current marketing approach, identifies areas for improvement, and offers specific recommendations, such as increasing marketing investment and enhancing online delivery services. The report concludes with a summary of key findings and emphasizes the importance of effective marketing strategies for the food industry, providing a valuable case study of Pret a Manger's operations and marketing practices.

SUMMATIVE
ASSESSMENT

Table of Content
• Introduction
• Company overview
• Company vision
• STP strategies
• Marketing mix
• Recommendation
• Conclusion

Marketing strategies refers to the long term activities of the business or organisation
which are essential to run the operational department with the view to achieve
marketing goals or tasks. Its a game plan which deals in reaching the customers
through its products and services by making effective promotional strategies and
objectives, by some of the marketing strategies is that segmentation, targeting and
positioning of the particular business by implementing the sources into it..
Introduction

Pret a manager is an international franchise of sandwiches which deals in other products
in their casual restaurant is that salads, sushi, soups, coffees and other snacks, This
franchise works on the principle of serving the best quality product in respect to its fresh
sandwiches and snacks. Having a headquarter in London, England,UK by serving almost
in 9 countries with having a effective global image in the food industries.
Company overview

Pret a manager is an international food industry which deals in the fast casual
restaurant having the company mission statement has been simple they are dealing
in serving the fresh foods and quality organic coffee which are considered to be the
best in the business for this food franchise and providing the best home made food
in their shops kitchens on a regular basis, the motive of this company is to provide
the don't sell product to the particular charity which are engage with this food
industry.
Company's mission

This refers to the marketing strategy which are considered to be the most
important factor through which the organisation can determine their values in
respect to the process in which they are dealing. This is basically the analysis
which shows proper segmentation is that what the company or industry are going
to sale and to whom which clearly mention in which customer they are dealing in
respect to the age groups of the catering customers and different product line for
the different people.
STP strategies

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Segmentation
Market segmentation refers to the research that describes the proper
categorization of the customers in respect of the age group or demographic into
smaller terms which is considered with the age of the customers, income level,
behaviour of the individual in respect to the particular products or services.
Demographic segmentation deals with the age, gender, income, family status,
occupation, martial status and religion. If we talk about the geographic
segmentation which are based on the country, state, region and some of the
behavioural segment is based on lifestyle, customer loyalty.

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Targeting
Target marketing is basically the approach of targeting or to focus on a particular
customers base or age group in respect of the potential customers, here marketing
strategy of the company is to approach the customers according to their product
line base like if the food industry deals in the fast casual restaurant so their motive
will be to caters the kids and teens but they can serve to the other customer groups
as well.

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Positioning
This strategy deals with the position of the company product where its actually
stands through analysing the status of the particular product or brand in which
the company deals so as to determine the value in respect of the product brand
image and their positioning in the market basically this food industry works on
the principle of providing the best quality product so due to their reach in the
international markets

7Ps of Marketing mix
Product: Product is refers as the tangible features of a item
made to satisfy consumers needs. In terms of Pret a
Manager uses high quality for its food and drinks which
is both tangible and intangible in manner. The
ingredients of respective firm are ethically sourced &
GM free and made freshly to satisfy customers needs
and wants. Pret a Manager offers effective quality of
food and drinks for its customers in order to gain m ore n
more customers

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Place: Due to their large scale of dealing in 9 countries this company works on the
marketing strategies of reaching the customers by taking the place as priority , Pret
are conveniently located near metro stations, shopping malls and business
complexes , they are also adopting the strategy to place their outlets near the
competitors outlets.

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Price: This marketing mix describe the value which relates with pricing of the company
in which they are dealing with their customers and product line, Pret's pricing model is
basically relates with the value based pricing, target segmenting is in high class
customers so they set their product price value according to the customers base they are
catering.

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Promotion: They are generally not investing much on the marketing of their
product ,Pret spend only 1% of their company turnover on marketing as opposing to
that of industry standard of 7% , this food industry is basically based on the
customers experiences and by giving good services as loyalty and on loyal customers
by spreading the words of mouth for their handling ways to that of customers.

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Process:This ingredient of marketing mix mainly define as a series of actions which
are taken for delivering services and products to end users. Basically process
means examining aspects like payment systems, sales funnel, managing customer
relationship and distribution procedures. In terms of Pret a Manager, in relation to
process there is a standardised service system in their stores.

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People:In this factor of marketing mix as all organisation are run with help
of people from top level manager to lower level subordinates. So there must be
recruitment of right people because these individuals helps business for offering
their products to their customers. By retaining right people this helps business for
getting long term and short terms success and growth. In context of respective
organisation, there are staffs which are enablers of Buzz and they are carefully
considering recruitment process.

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Physical Evidence: In almost services there are some physical elements as even there
is a bulk which is considered by for paying for is in terms of intangibility. There
are two forms of physical evidence which a service or product take place must be
in confirmation and proof of existence in their brands. In terms of Pret stores
there is almost nice décor and also consistent feel & look. Many customers enjoy
same experience as in Pret Store. There is a consistent standards which mainly
ensures by mystery shoppers and feedback programmes which is made by
company.

Recommendation
 By investing and dealing in more marketing activities by spending more from their
turnover to generates their company value they will gets extra benefits upon their
competitors by outclass them through aware the potential customers for their services
and products values.
 By giving better online delivery services to the customers across the countries by
adopting the external aspects of their dealing countries.

It has been concluded from the above report is that food industry needs to
provide better services in respect to their food items or in dealing in their
customers by adopting the marketing strategies which are beneficial for their
food industry..
Conclusion

Armstrong, G.M. and et. al., 2018. Marketing: an introduction. Pearson UK.
Deepak, R.K.A. and Jeyakumar, S., 2019. Marketing management. Educreation
Publishing.
Wu, Y.L. and Li, E.Y., 2018. Marketing mix, customer value, and customer
loyalty in social commerce. Internet Research.
References

Thank you