Prepare marketing strategy report

Assignment Help Marketing Research

Reference no: EM131069591 , Length: word count:1300 + 13 Slides

PART 1: Script to accompany PowerPoint slide presentation

[Slide 1 - Intro/Background]

This slide presentation follows on from the marketing strategy report our team completed three weeks ago. That report summarised industry research and proposed a segmentation framework.

[Slide 2 - Overview of presentation]

This presentation follows on with the strategic recommendations, which I've broken into three aspects:

First - the target market. Out of the four segments our team identified, I have recommended to focus on one segment as our key target market.

Second is the brand value proposition (VP) and I've got a recommendation about how our brand could be strategically positioned.

The third section is the Marketing Mix where I'm recommending some tactical marketing actions that would help us promote our VP to our target market.

[Slide 3 - Segment selected]

On this slide I've shown the segmentation framework from the team marketing strategy report. This framework was based on two variables we determined to be important from the research - how busy a consumer is and their attitude towards healthy choices.

The segment that I am recommending we focus on is the "Fast Feeding". This segment has a very busy lifestyle and is not concerned about healthy eating - convenience is of high importance to them.

[Slide 4 - Justification for segment choice]

The reason why I recommend this segment is that obesity rates are skyrocketing in Australia (Gargano 2015). This segment is estimated to be large and growing bigger.

Many people are unmotivated to take decisive action around healthy eating. If healthy eating options, such as Subway, are promoted and made more convenient it may encourage consumers to switch from other fast food options, like their competitor McDonalds. The key objective of the strategy for this segment is to influence consumers that eat fast food to switch to Subway and switch segment to Balancing Act.

[Slide 5 Key product features]

After I selected the Fast Feeding segment as the highest potential to focus on, I began to work on our brand VP. I identified the most crucial elements of the Subway brand for customers to be:

The service is quick.
Meals are nutritious.
Sandwiches are made fresh to order over the counter.
The service provides a high level of transparency - which means no gimmicks for the customer. They buy what they see.

The most recent figures I could find (Langley 2013) still show Subway as the highest ranking for customer satisfaction results amongst its competitors (86% of customers are happy with their Subway purchase). We know we don't need to make major changes to their brand or product.

[Slide 6 - Point of difference to competitors]

There are two key points of difference between Subway and other fast food options:

1. Subway offer low-calorie meals

2. Subway meals are made fresh in front of consumers

I consider the most important aspect to be this second one so I've based their brand VP around this.

[Slide 7 - Brand VP]

I've summarised our brand VP for consumers as offering a product that is fresh and as good quality as a local cafe, however it has the advantage of a fast food outlet in that consumers can conveniently purchase from many locations and know exactly what they'll be getting.

[Slide 8 Marketing Mix]

Now that I'd identified our key segment - Fast Feeders - and also our brand proposition - quality and convenience, I started to take a look at the marketing mix and what Subway could do to target Fast Feeders with the message around quality and convenience. I've looked at each of the 4Ps in turn and have some recommendations for each.

[Slide 8 - First P - Product]

Subway's ingredients and service model already meets consumer needs. The key requirement of the product is to gain the interest of "Fast Feeders" who don't care about quality or health outcomes of food. To get them involved in the purchase decision it is recommended that a new "Build your own sub" option be added to the menu. This does not change the Subway product or the Subway process, it just promotes it in a different light. Consumers will be able to select any combination of ingredients they like to design their own sandwich. They will be encouraged to monitor and be aware of the calorie intake of the sub they are creating.

[Slide 9 - Second P - Promotion]

I'm recommending we use a promotional campaign to launch the "Build your own sub" product, targeted on reaching the Fast Feeders segment predominantly through a mass marketing campaign.

A fun Sub builder with calorie calculator can be promoted on Subway's website and app for consumers before their Subway visit. We can also make it available on iPads available instore. Consumers can create and name their own Sub and save this online so it can be located by staff in store and made to order for them.

This would integrate well into social media as consumers promote their favourite sub recipes.

[Slide 10 - Third P - Price]

This tactic will have some impact on the pricing strategy. It will need to be adjusted for 'Make your own Sub' to reflect the difference in the number and type of ingredients a consumer selects. It is imperative that the pricing is kept as simple as possible for consumers to understand.

[Slide 10 - Fourth P - Place]

For the Fast Feeders segment, the more locations where Subway is available will make it more convenient and add Subway to their consideration set. As retail locations are costly to build and maintain it is recommended that Subway diversify to a more mobile retail strategy, such as a mobile food van or temporary pop up stores. This would allow Subway to try different locations with different consumer groups before investing in a full retail store.

This would also allow Subway a smaller environmental footprint as it requires less resources than a full store. Low carbon options for vehicles and cooking facilities should be a priority.

PART 2: Teamwork Discussion

It was challenging to complete the report working with a team online but for the most part we worked well together. Overall I'd rate our team as 7 out of 10.

One factor that helped us to be successful was that we listened and valued each other's ideas. For example, at our first skype meeting we discussed our strengths and weaknesses and then knew what expertise within the team we could draw upon. It ended up being really useful to have someone in the team without a marketing background as they brought a different perspective and called us out when we started to use too much marketing jargon. We turned something that could have been a disadvantage into an advantage by listening and respecting each other's strengths.

One other factor that contributed to our success was our commitment to giving each other constructive feedback. We discussed how hard it was sometimes to receive feedback without getting offended but agreed to be honest with each other. We decided that we all had to provide two pieces of feedback on each section of the report - one thing we thought was really good and one thing we would change. That way we got to be at both the giving and receiving end.

I feel my own contribution was equal to the team work as I completed the tasks assigned to me on time, attended all skype team meetings, shared my ideas and listened to others.

One thing I'd do differently in the future is to be more open to new ideas and different ways of working. One of my teammates wanted us to use google docs and I was resistant to this at first but it did end up making everything more transparent and easier. In the future, I will reserve judgement and be more open to trying new things.

i need 1300 words sharp

That does not include the presentation

-Business traveller - heavy user of Qantas

-Business traveller - light user of Qantas

-Holiday traveller - heavy user of Qantas

-Holiday traveller - light user of Qantas"

For this assignment- You need two elements when creating a segmentation framework i.e. use one of these ......please find attached the sample for this assignment it should look similar

-Business traveller - heavy user of Qantas

-Business traveller - light user of Qantas

-Holiday traveller - heavy user of Qantas

-Holiday traveller - light user of Qantas"

The text in your PowerPoint presentation will NOT be included as part of the specified word count for fundamental of marketing.

Attachment:- Sample.rar

Reference no: EM131069591

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