Introduction
Marketing plan plays a critical role for establishing any form of business. With ineffective marketing strategy, the company’s hard work to acquire customers will turn out to be random and very inefficient. The core objectives of marketing plan must ensure that the product satisfies the demands of customers and maintains an outstanding relationship with those customers. To achieve this, company will need to develop flexible techniques that rely to the adjustment in customer demand and perception. Most importantly, the core objectives of marketing plan must be to appreciate whether the target market is please with the product and service that the company offers.
Purpose
The purpose of this report is to assess the appropriateness of Hungry Jack’s breakfast menu for its target segment. The report also offers a detailed analysis the 4p’s of the product.
Scope
This report is divided into stages to cover main of the study, in stage one, it explores the history of the case study company, its main competitors, product category and opportunities and threats. Second stage covers Hungry Jack’s market segmentation strategies and bases. Stage three looks at the product, product life cycle and branding. In stage four, the report examines the pricing strategies of the company. The distributions strategies are discussed in stage five and stage six explores the promotional strategies and mix that the company deploys. The report summarizes with a conclusion. Background
Hungry Jack’s is one of the best known brands in Australia. This marketing report shows how Hungry Jack’s strives to continually establish its brand through listening to its customers. The report also the different stages within the marketing process. Branding establishes a personality for a service, product or organization. The brand image embodies how customers view the company. Branding effectively works if a company presents itself and behaves in a consistent manner. Marketing communication techniques, such as promotions and advertisement are deployed to create images, designs, and colors that accords the brand its identifiable face. In all its segment markets, Hungry Jack’s faces competition from other companies such as McDonald. Marketing entails determining the requirements and needs of customers and fulfilling such needs in a better way than the competitors, thus building loyal customers.
Market study considers those elements that affect the purchase decisions. Such purchasing decisions could often be affected by elements bigger than merely the product itself. Psychological aspects are critical for example, the image a given product conveys or the feeling of the consumer while purchasing a given product. These psychological aspects are of considerable value to the customer. Through marketing, Hungry Jack’s creates an outstanding position in consumer’s minds and this is termed as branding.
Conclusion
Product entails how the company has to design and produce the product that enhances the experience of each customer. Product means the services and physical products that Hungry Jack’s provides its customers. Hungry Jack’s includes specific elements of its products and service like desirability, looks and packaging. Hungry Jack’s constantly improves its service and product in accordance with the fast changing consumer tastes and desires. One of the best examples is the launch of the Combo chicken breakfast menu.
The place comprises mainly of the distribution outlet and the business channels. Place is essential because the product and service should be readily accessible to customers, at the right quantity, right place, and at the right time. In Australian about 50% of Hungry Jack’s outlets are situated about 5 minutes from one another. There are specific level of fun and happiness which Hungry Jack’s offers its customers. The company offers value position which is founded on the consumer requirements.
Pricing is one of the most critical elements as regards to marketing as it determines how much the company will make in profit. The pricing strategy was established so as to attract lower and middle class segment. The promotional activities deployed by Hungry Jack’s helps to effectively communicate with their potential customers. Their Ad is targeted to catch the people’s interest and it reaches huge masses at a time.
