Principles of Marketing: Famous Brands

Pages: 5 (1047 words) Published: April 16, 2013
‘The Incredibles’

Module Code:ADM 620
Module:Principles of Marketing
Title:Famous Brands
Date Due:19 February 2013

Student Details:
1. Ayesha Mia2206234
2. Igshaan Peters3318617
3. Nadeem Davenhill3316501
4. Gracia Jacobs3319038

All the sources used and/or quoted have been indicated and acknowledged by means of complete references.

1. …………………….
2. …………………….
3. …………………….
4. …………………….


Question 1:
The current mission as stated on the Famous Brands website is cited as the following: Our business is focused on growth and development of ‘best in class’ franchised leisure brands supported by a business model which maximises stakeholder value creation. This mission covers the following points:

* The company’s function
* To be the best in class food service franchise and maximise stakeholder value * Their intended markets
* Growth and development (i.e.) in respective markets
* Their competitive advantage
* Unique integration model
In our opinion, we would keep the original mission statement but enhance it to include the unpinning 3A’s (i.e.) Affordability, Availability & Accessibility. We would keep the essence of the current mission statement due to the fact that it already encompasses the value that the business creates and endeavours growth. Our re-written mission would read as follows:

Our business is focused on growth and development of the most available ‘best in class’ franchised leisure brands, made accessible through affordability for all, supported by a unique business integration model that maximises stakeholder value. Question 2:

The first marketing philosophy guiding Famous Brands is the production concept. It attests to their strategic intent which is underpinned by their brand being available, accessible and affordable. A second guiding philosophy is the marketing concept. The brand’s target market is the hungry customer and their product focuses on satisfying this customer’s needs. This need is a service that is affordable, easily available and located in accessible places. Question 3:

The target market for both brands is the hungry customer.
The trend has been to establish these two franchised brands within the same geographic location, linking the stores to each other (accessible) to capture all potential ‘hungry customers’ value. In essence, the target market does not differ between Steers and Debonairs. The rationale can be seen in the affordability matrix below as both brands costs similar prices per hungry customer or per hungry family. This is further highlighted in Addendum 1. Further to, reference to location as mentioned above, cements the strategic intent of the group to be accessible to the hungry customer. The production process for both brands also has similar lead times which provide equal product availability. Please see Addendum 2. There is typically 1 franchise owner for both the Steers and Debonairs which enables purchasing from both brands and in some cases shares a Point of Sale. Question 4:

The growth strategies highlighted in the chapter are the following: * Acquisition
* De-branding & Re-branding
* Global expansion
* Franchising
* Brand class expansion
Utilising the Boston Consulting Group (BCG) Approach (Kotler, et al., 2010:54) all of the above are growth targeted at ‘Cash Cows’ which are high share businesses or products, established and successful and require lower investment to hold their market share. In terms of the product market expansion grid, the above listed strategies focus on market...
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