MGMT7001 Business Communication - Marketing at Tims

You reviewed the 4 P’s of the marketing mix as well as segmentation of the market in the video in the Learning Activity, now you have an opportunity to apply this to a product of your choice and further your understanding how these concepts are applied in the real world.

Discussion 1: Applying the 4 P’s

Choose a product or service from a global company and apply the 4 P's of marketing: You can search for global companies on the Internet. Address the following 4 Ps of marketing:

Product
Price
Place
Promotion

Discussion 2: Marketing at Tim’s

Tim is considering selling breakfast quiches (eggs and cheese baked in individualized pie shells) from a local baker and fruit smoothies at his store. In Chapter 11 page 338 through 342 read “Developing a Marketing Strategy and Developing a Marketing Mix.”

• Will these products fit with his existing market segment? Explain why it is or is not a good fit using marketing mix terminology (citing references if needed).
• Then go into Tim's Coffee Shop and look at the menu board and see if you have any recommendations for better signage.

Answer

Business Communication

Discussion 1: 4Ps

Introduction

The 4P marketing plan is a great marketing mix which identifies targets markets for products and services and determines the needs of the general consumer. Every business should have a marketing plan which is crucial for the success of the business. The main focus is customer satisfaction, value and quality. It is centered on 4PS namely; Product, place, price and promotion.

The product we are going to look at is the wings top restaurants which is a franchise that sells fast foods. In the competitive world of hotel and hospitality industry, one has to be above the rest competitively in order to survive the tough wars (Huang & Sarigöllü, 2014). Wing stop has managed to do so by basing its marketing strategy on the 4ps.

Product

The first variable of product should be the best. Quality beats the best. With competitors like, MacDonald’s, KFC etc., Wing stop has been able to have the best quality, packaging, features and customers service on its foods. Their wings which are the most attractive have been able to appeal to the public with various tastes and feel. Their wings are attractive to the many lovers of chicken and fast food with a difference.

Place

PlaceThere are over 200 wings top locations which means they are accessible and the customers can get easy deliveries. The place should be based in a secure place where wings top franchises are located in major urban areas and residential areas with ample security. In case of delivery, there are delivery services that have partnered with the franchise to make sure customers get what they want.

Price

Compared to its competitors, wings top offers its products at a fairly competitive price without the compromise on quality. They also offer some of their food at discounted prices and have offers and promotions at particular days. There is also a promotion where you buy food at a given price and you are given a discount or a package aimed for marketing purposes (Datta & van Heerde,2017).

Promotion

Wingstop mainly uses methods such as advertising and direct marketing to persuade its customers. Self-promotion is also a strategy used by the franchise. This has given it the much needed publicity for business which is good in a competitive environment.

Discussion 2: Marketing at Tim’s

Q1) Will these products fit with his existing market segment

Yes they will.

Tim’s coffee Shoppe is located in Sunnydale Illinois which is a mid-sized city with an extremely busy downtown. With this setting there is a population that is able and willing to be customers of the breakfast he sells. For Tim, the urban population which consists mostly of the working class can sustain his business (Datta & van Heerde, 2017).

Q2) Then go into Tim's Coffee Shop and look at the menu board and see if you have any recommendations for better signage.

The menu can be more attractive than these. He can add many more breakfast chooses to increase the clientele or the customers that are displayed. I would recommend that he may add tea, sausages, beacon and toast which may be preferred by some people in the city.

Bibliography

Huang, R., & Sarigöllü, E. (2014). How brand awareness relates to market outcome, brand equity, and the marketing mix. In Fashion Branding and Consumer Behaviors (pp. 113-132). Springer, New York, NY.

Datta, H., Ailawadi, K. L., & van Heerde, H. J. (2017). How well does consumer-based brand equity align with sales-based brand equity and marketing-mix response?. Journal of Marketing, 81(3), 1-20.