Understanding the Market

Discuss About The Corporate Greening Beyond Formal Programs.

This report provides a suitable marketing plan for Wannaburger aligning with the business goals that organization has set for the future. The marketing plan presented in the report specifies the market, customers, competitors and other relevant marketing activities. Likewise, the report also specifies the potential strength of the business by comparing its products and services with the competitors in the market. The major purpose of the report is to prepare suitable marketing plan that fulfils the marketing needs that have been identified in the previous assignment. The major goal of the marketing plan is to create maximum exposure in the shortest time and serve a large community of customers by offering different range of unique product items. Another significant objective of the plan is to create a virtual presence in the foreign nations by advertising and promotion through digital media channels. This objective could be appropriate for Wannaburger because the firm is determined to enter the foreign nation in the coming future.  The action plan provided in the report specifies how the approaches should be implemented.

The potential customers of Wannaburger are the people failing in the age group between 15 to 24 years. Particularly, the audiences such as the college and school goers and young corporate employees. Hence, the needs of the customers are identified on the basis of their behaviour and characteristics. Heasman and Lang (2015) mentioned that a large percentage of youths, especially the highs school students in UK crowd at the small fast food restaurant for pre-made burger and chicken stripes. So, to meet the needs of these young people, Wannaburger needs to develop readymade chicken burger. On the other side, a survey conducted by Lülfs & Hahn (2013) reveals that almost 41% of employees of corporate sector prefer a heavy lunch with chicken items at the street restaurants. So, the needs of such customers should be fulfilled by offering a separate lunch box containing chicken items, veg items and other related items such as French fries. In addition to this, there is one more type of customers such as the urban families of Edinburgh who sometimes prefer to go for dinner and search for mixed items containing veg and non-veg. Thus, Wannaburger also needs to offer dinner packages to those high-end customers.

The major competitor of Wannaburger are Taco Bell, KFC, Red Rooster, McDonald’s, and some small street restaurants acquiring a large market of Edinburg. KFC could be a major threat to Wannaburger because KFC offers a broad range of products covering all needs of customers. Moreover, KFC is a global fast food chain restaurants running operation in 119 nations with the outlets over 18,873. Certainly, KFC’s structure indicates that brand image of KFC is sufficient enough to win customers trust (Harrington, Ottenbacher & Fauser, 2017). On other side, McDonald’s is another significant threat to Wannaburger because McDonald’s too has a large offering and moreover, they are associated with some large beverage giant Coca Cola; so their, partnership of these two global brands are sufficient enough to influence the market (Hussain, 2014).

Competitors

It has been observed that Edinburgh in UK is often surrounded by different sports events such as football and to take part in the event, people from different nations visit the city (Aivazidou et al., 2017). Therefore, Wannaburger needs to pay attention to the cultural foods; this means apart from usual food items, the organization continental food items. The product portfolio of Wannaburger should also include the festival theme such as Christmas Special.

Mission and vision: The mission statement of Wannaburger is to become a favourite place for eating and become the best place for the employees. This indicates that Wannaburger is strong from inside; it takes care of the needs of its employees and Huang and Rundle-Thiele (2014) mentioned that when the employees are satisfied doing their job, quality of service and products will automatically be improved. Wannaburger can demand a desired level of output for the employees because employee needs are appropriately met. Likewise, the vision of Wannaburger is to provide quick delivery of the service which is a strong aspect because Wannaburger is focussing on multiple of groups of customers with different age groups. So, aged customers and busy corporate workers may not have time to wait for the food to get cooked; they would rather prefer a quick option. Moreover, there is hardly any organization which has formed such vision.  

Wannaburger builds a strong vision and mission strategy which is unique and attractive as well as the firm is determined to cover large market focussing on different group of customers but the product offerings is limited. Compared to market coverage, product offerings are less. So, the organizations need to develop its products offerings by including few more items that meet the needs of the target customers. Providing customers with few drinks items and hamburger is certainly not enough.

The current market indicates that there is a growing trend of online food delivery. As the technology has rapidly been developing, the consumers tend to order online instead of vising the outlet. This could be a significant market opportunity which could help the business of Wannaburger. The organization could tie up with a third party online agency who takes the responsibility of taking orders and providing delivery boys. This approach could help the organization to cover or approach the customers belonging to the remote areas of market. Another significant marketing opportunity comes from the survey conducted by Bucher, Van der Horst and Siegrist (2013), which indicates that almost 59% of people in UK tend to prefer to fruit items in their breakfast, while existing fast food restaurant such as KFC does not provide this fruit item. So, Wannaburger, for the customers who buys breakfast and snack, can include few fruits items with breakfast package. This is a unique product development strategy which hardly followed by any existing organizations.

Other Marketing Activities

The organization Wannaburger is focussing on the large market with the focus of providing a broad category of products but the supply marketing UK is currently influenced by the existing players. The major suppliers are acquired by KFC, McDonald’s and other local restaurants (Jaworowska et al., 2013). In addition to this, the food and safety department in UK has become more concerned about the quality of food because people tend to avoid food containing high fat. Thus, Wannaburger must have to meet the criteria of designing the food items.

Objectives	Required Resources	Timeline
To create a large customers base by meeting customer needs	The accomplishment of this objective may require a large amount of resource because satisfying the needs of all groups of customers. Wannaburger needs skilled workforce who can serve the high end customers and digital media platform to approach the customers.  A large investment is required to cover the entire process	The completion of this initiative may require at least 6 months
To create presence in the global market through digital media channel	To fulfil this objective, the organisations require the digital media platforms such as Facebook, Twitter, YouTube and others. Finance is required  for implementing the entire process	The completion of this objective may require 6 to 7 months
To increase the profit by 10% in the first quarter since the implementation of the plan	This objective is specific, so no such primary resource is visible now but Wannaburger must have to hire skilled workforce to meet identified market demand. So, workforce is the major resource, which is highly essential	The completion of this objective may require 6 to 8 months

Table 1: Objectives, Resource and Timeline

The target audience of Wannaburger is discussed below with demographic, and psychographic variables.

Demographic characteristics of the target audience

As put forward by Casini et al., (2013), in demographic segmentation, the target market is categorized based on age, gender, family, income, race and nationality. However, Wannaburger divides its market on demographic basis, such as:

Age- 15- 24 (young and adults), 25 to 50 (middle aged and family members)

Gender- Both male and female

Family size- 3-4 and 5+

Psychographic characteristics of target audience

The market is divided into different groups such as social class, lifestyle and personal characteristics

Social Standards: Upper and Middle class

Lifestyle- not specific but mostly UK based culture

As the organization Wannaburger is presently running the operations in UK’s market, the crowd of high end customers are mostly visible. Thus, this high end-customers demand for a high quality of products because they can easily afford compared to the middle class customer.

Products, customer attraction and communication strategy has been discussed in the following with 4ps of marketing mix.

Product: As Wannaburger is determined to attract multiple groups of customers, the product portfolio is also large. For example, Burger may include Hamburger, Mighty Zinger, Fish Zinger, Twister, Chicken Burger, Zinger Burger and Spicy Sub. Likewise, the deserts may include regular drink, scoop of walls, large drink, coffee, tea, etc.

Price: The organization needs to design a competitive pricing strategy by setting a marginally low price than the competitors (Baker, 2014). Wannaburger needs to consider the fact that its operation is on the initial stage; thereby, high price of products may not bring desired level of crowds. However, for some particular products that focus on the high end customers, the price should be higher than the competitors.

Promotion: In order to entire the customers, the organization initially needs to design extending deals and offers. For example, 20% discount on the first online purchase, additional discount of 15% on the order containing 5 items. In addition, to increase the online purchases, the organizations could design a free delivery option for the consumers using online order application.

Identifying the Opportunities

Place: The products will be placed at the downtown of the city, near the college and university campus and inside the corporate hub of Edinburgh. On the other side, online selling will cover the whole market.

Advertising: Communication plays a great role in achieving the business objectives (Resnick et al., 2016). Thus, to communicate the offerings, Wannaburger needs to take help of the technology because technology provides a large medium to communicate with the audience located in the remote areas. So, the organization needs to leverage the social media channels to communicate its offerings. Particularly, the organization could use Facebook and YouTube to broadcast its advertising content because these two channels have the highest users (Halpern & Gibbs, 2013).

When	What	Target	Objective	Cost
01.07.18-31.12.18 (6months)	Product portfolio design and new product development	Young people( 15-24), Adults and family members (25-50 years)	To increase the customer base by meeting fundamental needs of the customers	The completion of this activity may require AUD$30,000
01.09.18-31.12.18 (3-4 months)	Implementation of marketing mix elements	All identified categorises of customers including the mentioned categories above	To meet the overall business goals of the organization	The cost of this activity is already considered in the previous budget
02.09.18-03.04.19	Application of promotional and advertising activities	Audience located at the remote areas and people in the foreign nations	To attract customers and create virtual presence in the global market	The implementation of this activity may require AUD$15,000

Table 2: Action plan

Activity	1st review date	Measure of success at 1st review	2nd review date	Measure of success at 2nd review date	End date	Measure of success at end date
Measuring the productivity increase	30.05.2019	After the implementation of the marketing plan, the growth of productivity will be measured by comparing with the productivity recorded in the last 6 months	30.11.2019	The productivity growth in the second quarter will be measured by comparing with the productivity recorded in the first quarter	31.12.19	The overall success of last two quarters will be measured at the end of year
Measuring the growth in customer base	30.06.2019	The growth of customer base will be measured by comparing with the previously recorded customers	30.12.2019	The growth of customer base in the 2nd quarter of the year will be measured by comparing result found in the first quarter	01.12.19	The overall growth of customer base will be reviewed by comparing the growth the recorded in the both the quarters

Table 3: Review plan

References

Aivazidou, E., Tsolakis, N., Vlachos, D. P., & Iakovou, E. (2017). Water Footprint Mitigation Strategies for Agrifood Products: The Application of System Dynamics in Green Marketing. In Strategic Innovative Marketing (pp. 275-281). Springer, Cham.

Baker, M. J. (2014). Marketing strategy and management. Palgrave Macmillan.

Bucher, T., Van der Horst, K., & Siegrist, M. (2013). Fruit for dessert. How people compose healthier meals. Appetite, 60, 74-80.

Casini, L., Contini, C., Marone, E., & Romano, C. (2013). Food habits. Changes among young Italians in the last 10 years. Appetite, 68, 21-29.

Halpern, D., & Gibbs, J. (2013). Social media as a catalyst for online deliberation? Exploring the affordances of Facebook and YouTube for political expression. Computers in Human Behavior, 29(3), 1159-1168.

Harrington, R. J., Ottenbacher, M. C., & Fauser, S. (2017). QSR brand value: Marketing mix dimensions among McDonald’s, KFC, Burger King, Subway and Starbucks. International Journal of Contemporary Hospitality Management, 29(1), 551-570.

Heasman, M., & Lang, T. (2015). Food wars: the global battle for mouths, minds and markets. Routledge.

Huang, Y. T., & Rundle-Thiele, S. (2014). The moderating effect of cultural congruence on the internal marketing practice and employee satisfaction relationship: An empirical examination of Australian and Taiwanese born tourism employees. Tourism Management, 42, 196-206.

Hussain, S. (2014). The impact of sensory branding (five senses) on consumer: A case study on KFC (Kentucky Fried Chicken). International Journal of Research in Business Management, 2(5), 2347-4572.

Jaworowska, A., Blackham, T., Davies, I. G., & Stevenson, L. (2013). Nutritional challenges and health implications of takeaway and fast food. Nutrition reviews, 71(5), 310-318.

Lülfs, R., & Hahn, R. (2013). Corporate greening beyond formal programs, initiatives, and systems: a conceptual model for voluntary pro?environmental behavior of employees. European Management Review, 10(2), 83-98.

Resnick, S. M., Cheng, R., Simpson, M., & Lourenço, F. (2016). Marketing in SMEs: a “4Ps” self-branding model. International Journal of Entrepreneurial Behavior & Research, 22(1), 155-174.