Marketing Assignment 1

Only available on StudyMode
  • Download(s) : 99
  • Published : December 7, 2010
Open Document
Text Preview
Marketing Management
MKT 500

Week 3
Assignment #1

Marketing Plan of a Healthy Fast Food Company

Table of Content
Marketing Objective………………………………………………………………….3 Identifying Market Segment and Its Explanation………………………………….... 3 The Target Market and Its Explanation……………………………………………… 3 SWOT Analysis……………………………………………………………………….4 Market Position………………………………………………………………………. 6 Recommendations……………………………………………………………………. 7 References…………………………………………………………………………….. 8

The Objective of X’s Healthy Fast Food Restaurant
Our number one marketing objective is to reach our target market properly. We want from our target market to make a habit of eating their meals in our restaurants. If we are able to reach them, this will help us to grow at the end of the first year. In addition to this, we have another objective which is to decrease the number of people who are not aware and people who are resisting to not purchase our goods. In this case, we are planning to encourage them to taste our products and take their opinions about them to adjust our goods according to their needs and wants. Stressing our competitive advantage to our target customers is our another goal which makes them loyal to our restaurants. Identify the marketing segment for the product and explain why this segment was selected.

Because we are producing healthy fast foods for different diet programs, mass marketing does not fit our marketing strategy. Therefore we segment the market based on Demographics. For example, if gender is taken into consideration, woman and man should take different amount of calories per day in order to carry on their daily activities. Besides, amount of calories are taken by young people, adults, and elderly people changes as well according to their heights, weights, and activity levels. Therefore when our customers come to our restaurants, they should be able to find a food that best fits their diet in order to be satisfied. Moreover, we also segment the market based on geographic as well. In this case, we are planning to run our business in United States because there is a high demand for healthy foods since people want to live healthy and longer. Discuss the target market and why these customers will be targeted.

We segmented market according to people’s ages and genders. We decided to target people whose ages are between 18 and 64 or more and tried to figure out the market size. According to US and World Population Clocks in the US Census Bureau web page, there are 309,092,421 people living in America now. Again, according to the report posted on US Census Bureau, Meyer (2001) stated that people whose age is under 18 is 26 percent, people whose age is between 18 and 64 is 62 percent and people whose age is more than 64 is 12 percent of US population. So if we assume that the percentage of people whose ages are between 18 and 64 or more remain unchanged from 2000 to 2010, the total population of young people, adults and elderly people is now 228,728,319. (62%+12%=74%, 309,092,421×74%). Moreover, if we assume that 50 percent of this amount is woman and 50 percent of it man. So we have 114,364,159 men and 114,364,159 women whose ages are between 18 and 64 or more. This is a huge number and it seems that targeting this segment is profitable. Furthermore, this market size can grow in the future because in 2000 the total US population was approximately 281 million according to US Census Bureau 2000 report. (Meyer 2001). Today, as I mentioned above it is nearly 309 million. Conduct a SWOT (strength, weakness, opportunities and treats analysis for company. One of our strengths is offering healthy foods. Our menu contains foods that they are rich in terms of protein, vitamins, mineral etc. which play an important role in the structure of human body. Secondly, while we are preparing our menu, we consult nutritionists about the ingredients, the types to enhance the variety and cooking techniques. In addition to this, our...
tracking img