Pizza Hut, the world’s largest Pizza chain with over 12000 pizza restaurants and delivery outlets worldwide has the vision of becoming the best branded restaurant with the best delivery and franchise network thereby providing the best food and best value to the families. Pizza Hut as a company has always tried to target and satisfy various diverse customer categories in different countries depending upon various factors and situations. Pizza Hut in order to fulfill its marketing objective of maximizing customer satisfaction by providing high quality products, has believed in the following marketing strategy:
“Think Global, Act Local”
Pizza Hut has tried to target each and every diverse population segment either on the basis of age (kids, teenage, office goers, senior citizens) or on basis of lifestyle (singles or couples) or special interest groups (celebrations, parties, festivals).As a part of the marketing strategy, Pizza Hut follows total market strategy along with international market strategy coupled with early entry strategy. (Pizza Hut, 2012)
REVIEW OF LITERATURE
-pizza hut introduced several locally influenced products according to the taste buds of local people Variety
-large variety of pizzas, example: cheesy bits, stuffed crust, thin”n” crispy etc. Quality
-large number of market share is with pizza hut because of high quality. Design----always round pizza
Packaging----delivery through hot oven in boxes
Price-----uses market skimming price strategy, high price
-TV ads, newspapers, billboards etc.
-promotions like meal for 2, meal for 4, meal for 6
Place---having outlets in shopping malls, road side, airport zone
1. Help in selection of a right course of action.
2. Identify various problems
3. Evaluate the needs of customers
4. Analyze the probable market for the market
5. Critical analysis of the marketing strategies adopted by the company 6. Briefly study the competitors and the substitute products. 7. Estimate the future sales and expected share of the market. 8. Study the acceptance of the product, package , price, color, etc by the consumers 9. Analyze the effectiveness of advertisement
10. Assess the sales representative’s efficiency.
11. Identify the best sources of distributing the products.
Various tools and methods like, secondary sources were adopted to collect information to critically analyze the marketing strategies adopted by pizza hut, analyze the probable market for the product, study its competitors and substitute products, to estimate future sales and expected share of the market, analyze the effectiveness of advertisement, its target market and finally why people prefer pizza hut.
RESULTS AND DISCUSSIONS
Pizza Hut follows the following strategy:
Total market strategy----Pizza Hut started with a single product i.e. Pizza but with different segments emerging and the degree of competition increasing, it diversified into several products to serve different segments. It came up with chicken nuggets, wedges, garlic bread, smiley etc. International marketing strategy:
Pizza Hut started with local market strategy in Kansas, USA then moved on to regional markets in and across USA. In 1968, Pizza Hut started its international movement by opening its 1strestaurant in Canada. And today Pizza Hut is world’s largest pizza chain with its presence in more than 100 countries.
Early Entry Strategy:
Though Pizza Hut was not the first entrants in the pizza market infuse. But Pizza Hut followed an early entrant strategy. Customers knew what a pizza is but still there was huge potential to tap. In order to become a leader, pizza hut continued to refine their product &develop new product to suit their customer’s changing tastes. Ultimately Pizza Hut...