The paper “ Marketing Strategy for the Fast Food Company in Australia - Target Markets, Positioning, Market Coverage, Competitive Advantage, Product and Service Strategy” is an excellent variant of business plan on marketing. The fast-food industry is a major industry that involves most people especially those living near or within the urban centres. The marketing strategy has picked three segments, which are children, young urban family, and teenagers. The market coverage strategy that will be used is differentiated because few products will be offered to three market segments. Utilizing this strategy will ensure that more customers are served and contribute to the sustainability of the business.
Competitive advantage is an important feature since it will ensure that the company has an edge over the competitors. The competitive strategy that will be used brings into consideration differentiated focus and cost focus, and this approach will ensure that the business is successful. The core product that will be offered is fast food especially biscuits, pizzas and burgers, and fruit juices. The augmented product will include the sellable and distributable packing that will ensure easiness of offering the product bringing into consideration health and safety measures.
The product goes handy with the brand since the brand creates the image of the product and improves the perception of the consumers. Since the venture is still new, branding will be a major component that will be developed for future benefits. 1.0 IntroductionVisions and missions usually define the way businesses will be operated. These fundamentals provide means of developing the product and services that will be offered to the consumer. The aim of most consumers is the value of their money and usually, organizations formulate and implement strategies that will ensure they satisfy the requirements of these consumers.
To fulfil this, it is important to develop a marketing strategy and formulae that helps in ensuring that the business will succeed. Thus, the aim of this paper is to develop a marketing approach that will market the fast-food products. Some of the factors that will be addressed include the proposed target market, positioning strategy, market coverage strategy, competitive advantage and product, service strategy. 2.0 Proposed Target MarketsThe organisation usually cannot satisfy the requirements, needs and wants of all their customers.
If an organisation concentrates on the entire market, it results in the massive drain in company resources and may affect the entire company. This is because the creation of marketing segments ensure that specific sectors or portions are determined that will enable the concentration of resources. Market segments are organizations, individuals or group that share one or more characteristics that make them require similar services or products while target market is that specific market segmented that a product or service is market to (Drucker, 2006).
The best market segment that the organization will embrace is demographic in which age group plays a major role. From the analysis of Australia's fast-food market, the viable and sustain markets are those of ages and especially groups of children, youth and young urban family. Kids usually purchase products related to food.
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