Marketing Plan essay
I Product option
The new product is the snackfood that will be introduced in a chain of fast food restaurant as an alternative to the traditional food and menu offered by the company to its customers in the market. The snackfood will be different from conventional fast food since the product will offer customers a possibility to snack anywhere and anytime they like. Therefore, they may either buy the snackgood in the fast food restaurant and go, or have a snack in the fast food restaurant.
II Market-oriented mission
The mission of the new product to offer customers an opportunity to snack fast buying the snackfood from the fast food restaurant or making an order either online or by phone. The fast delivery of the product and attractive taste of the product are the main advantages of the snackfood. Unlike other fast food products, the snackfood is oriented on customers, who are concerned with their health because it contains organic products only and is useful for consumers’ health.
III Conceptual overview
1 Product description
The snackfood includes snacks that consist of organic products and ingredients, which are sold to consumers ready to eat. In such a way, consumers will enjoy the new product, which they can buy and eat fast without any risk to their health. The product will be offered for customers, who are concerned with their health and physical condition.
2 Customers
2.1 Factors influencing behavior
Customers’ behavior depends on multiple factors. In this regard, the price of the product is one of the important factors that can influence the customer choices. In addition, customers grow concerned with their health. Therefore, the positioning of the snackfood as healthy snack is likely to attract customers to the new product. In addition, customers may be influenced by the aggressive promotion that may involve the celebrity endorsement.
2.2 Buying decision behavior
Customers’ buying decision behavior depends on the price and quality of the product. In this regard, the snackfood will be the product of the high quality offered at the affordable price for mass customers.
III Marketing intelligence
1 Macro-environmental factors
One of the main micro-environmental factors is competition. The competition in the fast food industry is tight. Hence, the company introducing the snackfood should come prepared to the competition. The costs of the labor force are also important because they influence the overall costs of production and operations of the company after the introduction of the product in the market.
2 Competitive analysis
2.1 Direct competition
The direct competition will involve fast food restaurants and retail stores selling snacks and other fast food products to customers.
2.2 Indirect competition
The indirect competition will include restaurants of the medium and upper-segment of the market along with retailers selling food that needs minimal cooking.
2.3 Strengths and weaknesses of the leading competitor
The leading competitors are companies, like McDonalds, KFC, and the like. Their major strengths are extensive networks and brand popularity, which allow them holding the leading position in the market. On the other hand, there weaknesses are growing customers concerns about the impact of their food on consumers’ health.
IV Conclusion
Thus, the company introducing the snackfood may take the competitive advantage offering healthy snack that consumers can buy from the fat food restaurant or order online or by phone.
