SUBWAY MARKETING PLAN
1. EXECUTIVE SUMMARY:
SUBWAY (restaurants) is an American fast-food franchise owned by Doctor’s Associates, Inc. Subway was founded by Peter Buck and Fred Deluca, with its first restaurant being set up in Bridgeport, U.S in 1965. The franchise runs 38,813 restaurants in 99 countries. Today, the SUBWAY brand is the world's largest submarine sandwich chain. The SUBWAY franchise provides variety of great testing and healthier foods and the third largest fast food chain.
Being a part of highly competitive market, SUBWAY has to complete other fast food franchise like McDonald, Pizza Hut, Burger King, and KFC. In this situation SUBWAY has to adopt rigorous marketing plan in order to maintain sales growth and profitability. Subway has introduced online ordering whereby customers can order their food on their website and have it delivered without having to visit the restaurant. Subway is highly committed towards the socially and environmentally responsible. SUBWAY is the first and only quick service restaurant to receive the American Heart Association's Heart Check Meal Certificate.
SUBWAY is one of the market leaders in the sub and sandwich shops offering a healthier alternative to the traditional fast foods. Subway’s annual sales exceeded $6.3 billion. It has more than 28,000 units worldwide whilst its rapid growth has attracted many investments.
Subway Restaurant, an American franchise that managed to become one of the fastest growing franchises in the globe. In this marketing plan, we are going to discuss and explain SUBWAY's existing strengths, weakness, opportunities, threats, marketing strategy and objectives, promotional strategies.
In this marketing plan, We use our marketing knowledge to evaluate SUBWAY marketing strategy and also will be discussing their growth. For this we use some marketing fundamentals and theories.
3. SWOT ANALYSIS:
* Size and number of stores worldwide. This gives better advantage to SUBWAY against its competitors * SUBWAY product is mainly focusing for fresh and healthy food * Partnering with American Health Association to facilitate their positioning in fast food market * High level profit due to large coverage
* Limited range of fast food products
* Lack of good services in some restaurants because some of their franchises are unhappy * The look of franchise is old and outdated which reduces their competitive advantage. Opportunities:
* Continue to grow global business
* Improve customer service
* Partnership with movies production and other beverage companies could promote brand name * Continue to revise and refresh menu
* Competition with other large fast food chains
* Food contamination
* Law suits
* economic downturn
4. MARKETING STRATEGY:
Marketing Strategies play a key role for companies to rule the market for long time .It is imperative for SUBWAY to consider its market before exploring the possibility of reaching out to customers. SUBWAY's marketing strategy addresses healthy, fresh and custom made sandwiches as per the consumers'' expectations. Success factors for fast food franchisees will include products and marketing targeted to healthy food menu, brand consistency, low start-up cost, and franchise reputation and consumer convenience. SUBWAY is a best example of fast food franchise to rule future fast food market. 5. OBJECTIVES:
The main focus of the company is to develop a good marketing strategy so that it stays ahead of the competition and attract new consumers and retain existing ones. SUBWAY can use marketing segmentation, positioning and targeting strategies to develop their market.
6. TARGET MARKET:
Big companies and franchisees generally use segmentation method to reach to their consumer. Once the market has been segmented in different segments, they target each segment accordingly. Subway targets market is a young...
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