Free Marketing Strategies and Competitive Advantages of Fast Food Essay Sample
This dissertation concentrates on market segmentation and market product positioning under market strategies and competitive advantages for UK. The first chapter introduces the UK market under Fast food supply while analyzing on Fast foods market strategies and competitive advantages background. The rationale and significance of UK market strategies for Fast food is still address in the first chapter plus its aims and objectives. Ina addition, research questions and the inside story of UK marketing are evaluated. The models, theories and concepts to be used for UK marketing strategies and competition are consumer buying concept and Buyers Black Box model. The methodological strategically research and methods used by UK in its marketing strategy for fast foods value proposition and product positioning. Consumer social ethical limitation o buying behavior is addressed in this dissertation. The data, findings and conclusions rely on the assessments of European Food industries, which addresses on marketing strategies and competitive advantages for fast food industries in UK.
TABLE OF CONTENTS
Marketing Strategies and Competitive Advantages of Fast Food Industries in the UK
Chapter 1: Introduction:
-Background to the study
-Rational & Significance
-Aim & Objectives
Chapter 2: Literature review
-related concepts, theories and models
Chapter 3: Research Methodology
- concepts related to research methodology
- methods used and reasons for choice of method plus implementation
- limitations and ethical issues faced
Chapter 4: Data
- Primary data and Secondary data
Chapter 5: Analysis
Chapter 6: Conclusion
- Summary of findings
- Response to research question
- Recommendation plus basis for further research
Background to the study
Marketing strategy involves the creation of a perfect environment to boost the development and growth of a UK fast food company. These strategies involve the formation of bulletproof market platforms that protects UK fast food industries against competitors and other external challenges within the market.To find new opportunities and penetrate the market fast-food marketers require a good marketing strategy that includes marketing segmentation with product differentiation and product positioning. Competitive advantages are more aligned to fast foods production competition and strategic advantages that fast food retailers have over the other food retailers within the perspective of UK fast food sales.
Rational and Significance
The rationale for entrepreneurial ideas (business ideation) constitutes a framework of strategies, which enables a business to generate sufficient sales to boost the development of its manufacturing industry and market. According to W. states that, the significance of market strategies and competitive advantages of UK fast foods industries is that most Companies seek to expand their activities within a competitive market. There is need for creative ideas (ideation) and dynamic strategies.
Aim and Objectives
Fast food offer a competitive advantage through private-labels where offer of gourmet is exercised, in addition the development of healthier products has given Fast foods managers a better advantage and positioning in the market. This offers good value proposition of production of healthy UK fast foods Industries products for the highly healthy cautious customers .
This research question relies mainly on various aspects of marketing, which influence the distribution strategy, consumer confidence and level of awareness of fast foods. The UK fast foods marketing environment is dynamic and has various forces I.e. social, economic, technological, competitive and regulatory forces. This research question on market strategy will concentrate on three marketing environmental forces i.e. social, economic and technological forces. In each force, strategies to overcome threat and to deal with competition and offer competitive advantages for food product need to be analyzed through use of (strengths, weakness, opportunities, and threats) SWOT analysis plus some elements of marketing mix.
UK Fast-Food Industries requires extensive research on the marketing strategy of the fast food to keep it operational in the future. Through a good marketing program, the customers will appreciate the product due to awareness and it will make sales easier due to positive predisposition for food products.
Related Concepts, Theories and Models
The concept of market segmentation involves the process of grouping prospective customers interested in their industry products . According to W., through market segmentation grouping in areas such as homogeneity (product preference similarity), reaction to the market and distinctions from other group is identified. In theory fast foods, the prospective UK fast foods consumers are targeted by marketer though a proper marketing strategy where market understanding assist in predicting consumer-buying behavior. The models used by UK according to W., is model of consumer behavior constitute the ‘Buyers Black Box’ through stimuli’s of marketing and environmental forces which assist in stimulating various responses from buyer’s black box. The responses for consumers are affected by marketing mix product, promotion place and price; in addition, the environmental factors such as politics, technology, culture and the economy.
Concepts Related To Research Methodology
Concepts related to methodology of market strategy and competitive advantage is value proposition and product positioning for food products. According to W. sates that, the value proposition for fast foods assists in the customer satisfaction of the value of product from UK fast foods industry. Value proposition maintains UK fast foods tangible value and worthiness to the customer that overall stimulates customer choice of preference; it is a good marketing strategy. According to Baines1a et al (2003), a value proposition involves product differentiation that improves customer levels of retention. The product positioning for fast foods would involve use coupons, end-cap promotions and celebrity tie-ins for customer satisfaction that increase the uniqueness of the chocolate product.
Methods Used, Choice and Implementation of Methods
Methods used by UK fast food industries in formulating marketing strategies and competitive advantages lies ideation processes of product positioning, value proposition, product identification and market segmentation. Choice of methods is based on personal factor, which influence the buying of fast foods through characteristics such as the age of consumers, the economic situation of the buyer, the lifestyle they are accustomed to, type of job they do and the personality. Personal income plays a major role in determining the product choice for individuals. In addition, fast foods products choice of brand varies depending on the occupation of individuals.
Limitations and ethical issues
According to W. argues that, some groups such as UK fast food industries and factories are not cultural anthropologist and may tamper with the inflow of accurate information concerning the level of consumption and consumer utility. Most groups do not have the right information concerning the skills required for the consumer focus group and have less access of knowledge on fast foods. In manufacturing and marketing for fast foods, the products and market identification criteria need to be considerable to enable the overall competitive advantage and to drive incremental growth. The ethical issues in marketing of fast foods constitute of the non-social behavior of consumers during purchasing.
According to W., marketing environment constitute of dynamic and multilingual forces that externally affects the process of sales stimulation for company product through identification, promotion, satisfaction of customer needs. European Fast foods product innovation primary data are developed through market scope of consumer examination and the knowledge of market needs.
Uunderstanding the geography of fast foods, assists in providing significant knowledge of its potential markets and improvement of its product quality through innovations. Then evaluation of manufacturing and markets potential would be conducted by professional fast food researches. They would mitigate the solutions that need to be applied by fast foods product segmentation. They are preferred has, the researchers are able to gain sufficient knowledge on health related problems and the anti-oxidant prevalent in fast foods.
The criteria for enumeration in Voice of customer (VOC) techniques, follows the steps of, first the performance evaluation of fast foods products in the current market. Second, identifying the problems associated with the consumption and the incremental growth of UK consumer purchasing power. Third, identifying the scope of the market and lastly pointing out the instabilities that associated with UK fast foods potential market. Fast food industry will prevail in the future through use of systematic Voice of customer (VOC) techniques in the manufacturing and marketing concepts. Sufficient mechanisms of product identification during evaluation and mitigation of consumer groups will boost company potential.
Summary of findings
In conclusion, the market strategy of market segmentation relies heavily on the proper product different ion and positioning of UK fast food products.
A good value proposition always wins the heart and chocolate taste preferences fast food lovers.
Response to research question
The products opportunities and market identifications are positive in CB firm with quality Market ideation procedures and evaluation of product ideas. Fast food is a good marketer through its use of systematic Voice of customer (VOC) techniques in the manufacturing and marketing concepts. Sufficient mechanisms of product identification during evaluation and mitigation of consumer groups will boost company marketing potential
The marketing strategies are largely influenced by social, economic and technological forces; marketers need to remain strong in the competitive industry through better social production, product innovation and economic stability. Through application of standard marketing mix, managers can gain maximum profits after marketing their products
Basis for further research
Further research can be conducted through fast foods framework of activities, which enables a foods business to generate sufficient sales to boost the development of its manufacturing industry (Rownd, 2008). Most Companies seek to expand their activities within a competitive market, in which the need for creative ideas and dynamic strategies is vital to ensure marketing success and to drive an incremental growth.