Executive Summary……………………………………………………………………………………………… Introduction ………………………………………………………………………………………………………… Situation Analysis………………………………………………………………………………………………….. SWOT Analysis …………………………………………………………………………………………….. Strengths ……………………………………………………………………………………………. Weaknesses…………………………………………………………………………………………. Opportunities……………………………………………………………………………………….. Threats ……………………………………………………………………………………………….. 4.0 Marketing Objectives ………………………………………………………………………………………….. 5.0 Market Segmentation…………………………………………………………………………………………… 6.0 Targeting and Positioning Strategy………………………………………………….. 7.0 Marketing Mix (Product)… 8.0 Marketing Mix (Price)… 9.0 Marketing Mix (Place)… 10.0 Marketing Mix (Promotion)…… 11.0 Budget 12.0 Evaluation . 13.0 Conclusion ………………………………………………………………………………………………………. 14.0 References ………………………………………………………………………………………………………. Executive Summary In todays world, Singapore is recognized as the metropolis of the tourist from neighbouring countries such as Indonesia, Philippines, Malaysia, Thailand and Cambodia. More than 11 million tourists visit Singapore yearly making Singapores retail section is the strongest in the South East Asia region. This plan is to set up to acquire an area for the initial launching in this year. Extra financing should be secured for the two consequent outlets, expected in early year three. The financing, in addition to the fund contributions from shareholders, will allow Chick-fill-A to effectively open and grow through year two. The initial capital investment will allow Chick-Fill-A to furnish its customers with an esteem driven, engaging background through the innovativeness of its organizers. 2.0 Introduction Chick-fill-A is an American franchise based on College Park, Georgia, United States of America specialized on foods such as the famous chicken sandwich, the first of chicken nuggets, etc. Chick-fill-A will provide range of foods at excellent quality with affordable price, with fun atmosphere and venue. 3.0 Situation Analysis 3.1 SWOT (200 words) 3.1.1 Strengths Service One of the main reasons for their successful restaurant is their customer service. This is something unusual for fast food restaurant as they usually focused on self-service model.3.1.2 Weaknesses Prices Chick-fill-A prices their food much higher than their competitor. Although, this justifies their service and food quality, it may be not popular amongst low and middle-class income. 3.1.3 Opportunities Quality services Because of the poor quality of customer service of their competitors, Chick-fill-A focuses more on their quality service.3.1.4 Threats Diseases Avian influenza may affect their product from their supplier or farm. This could be affect their profit or their consumer directly 4.0 Marketing Objectives 1) To achieve 25 of the market share by 30 June 2019 2) To achieve 1.25 million of profits by 30 June 2019 3) To achieve 500000 units sold by 30 June 2019 4) To achieve 75 of brand awareness by 30 June 2019 5.0 Market Segmentation Tourist and young Singaporeans are our primary market target. Somerset and Orchard road are the places for the tourists and teenagers to hang out together and eat out. Orchard road have 10 main shopping places such as Paragon and Takashimaya. In addition, teenagers like to have a lunch or dinner in the shopping malls. Furthermore, Orchard road is the main destination for tourists to shopping or staying in major hotels. For example, the Hilton, Popular hotel, and the Mandarin. As such, Chick-fill-A is the alternative for tourists and young Singaporeans for lunch or dinner and shopping or hang out after their meals. 6.0 Targeting and Positioning Strategy As the outlets of Chick-Fill-A are located in Orchard Road and Bugis and the rent prices are too high, so we target upper and middle classes. As such, our target markets depends on growth rate and sizes of the population in Singapore. 7.0 Product Chick-fill-A are credited with inventing the boneless chicken breast sandwich and introducing the chicken nugget concept, Chick-Fil-A serves freshly and nutritious food products. Others include waffle fries, milkshakes, ice cream, desserts and fresh squeezed lemonade served in combo meals or separately for the consumer satisfaction. According to Chick-fil-A, it is a fresh boneless chicken breast seasoned perfectly, using handmade breadcrumbs for the perfection, fried perfectly and served on a toasted bun with dill pickle. Kotler et al. (2005, 540) found that Consumer products are good bought by the consumers based on their personal consumption. Customers are usually identified by their shopping patterns on goods that they bought. There are four consumer products convenience products, shopping products, specialty products and unsought products. Convenience products are goods that consumer usually buy frequently or daily, and without any consideration or thinking. For example food, sweets or newspaper. As such, Chick-fill-A offer convenience products as they produce foods and drinks. The brand name and logo would remain the same as it is their unique Chick-fill-A logo, so people would know the Chick-fill-A logo in time and everywhere. In addition, people would stay loyal to the brand if the logo remains the same. The red colour of the wording make it easier for the customer to notice the brand. Easy to recognize. 8.0 Price Chick-Fill-A trademark products include the Chick-Fill-A original chicken sandwich, char grilled chicken sandwich and newly introduced the ranges of breakfast products. Our food ranges prices from 1.35 to 7.80. The combo meal is also available from 5.39 to 11.50. Other foods and drinks such as waffle fries, ice cream and milkshakes ranging from 1 to 3. Inelastic, why Because of the food qualities that Chick-fill-A offer are better than most of the competitor, satisfied customer would stay loyal and will come back to the brand even the price would go more expensive or cheaper than other competitor. It is very important to determine the price because it would affect the profit margin and we must take note our prices with other competitors price. Chick-fill-A use fresh chicken, not frozen chicken, furthermore, the qualities of our products are top notch. Therefore, our price would be higher than the competitors prices. Quality and taste would be the purchase decision for the customer. Although our price are a bit higher that the others, our loyal customers would pay more and come back again because they like our products and taste than the other brand. 9.0 Place Consumers would be able to purchase our foods directly from the restaurant. Customers also able to buy our desserts from the kiosk. Other than our restaurant and kiosk, consumers also able to buy our foods from the mobile apps or delivery website. Orchard road is the best location, not it is full of tourists from the neighbouring countries (Malaysia, Indonesia and Philippines) it is the place where teenagers and young adults hang out, shopping or just simply having their meals. It is also the centre the shopping malls in Singapore where there are 10 major shopping malls, for example Paragon, Plaza Singapura and Takashimaya. Bugis is another top location other than Orchard Road, not it is near Chinatown, it is also near Marina Bay and Singapore river, which is the CBD area of Singapore. Workers would be able to get their meals during lunch hour conveniently at Bugis, which is you can get there by riding bicycle or getting to the bus. In addition, it is convenient for tourists go to Little India and Arab Quarters. Furthermore, there a lot of budget hotels in the area of Bugis, where the cheapest could go to 30 per night. 10.0 Promotion Social media is becoming one of the most important factors of digital marketing, which provides incredible advantage that help us reach millions of customers worldwide. The usage of social media as a marketing plan is absolutely benefecial to us. In todays world, 9 in 10 teenagers use their social media everyday, such as Facebook, Twitter and Instagram. There are 5.74 million people in Singapore, and there are 4.40 million people users in social media. This shows how social media can impact the targeting market. Other than this, social media is absolutely free and easy to use. 11.0 Budget To open a restaurant in Singapore, it is roughly cost 300,000. It is consists of all the costs(rent, labour, and equipment) and rent paid up to 6 months. In addition, we need more fund if the restaurant does not make the profit makeup in the first four months. 12.0 Evaluation Promotion and place would the deciding factors in succesfullness in this marketing plan. As these factors decide whether Chick-fill-A could open new outlets in the next three years. 13.0 Conclusion In conclusion, with these SWOT and the 4Ps analysis, 14.0 References Rix, Peter. 2011. Marketing A Practical Approach 2nd ed. McGraw-Hill Australia Pty Ltd. J. Baker, Michael. 2005. The Marketing Book 5th ed. Oxford, England Butterworth-Heinemann A. Stone, Marilyn, and John Desmond. 2007. Fundamentals of Marketing. New York, USA Routledge HYPERLINK https//www.chick-fil-a.com/About/Great-Food https//www.chick-fil-a.com/About/Great-Food https//www.chick-fil-a.com/Franchising/Franchise Y, i-qN3 (f4Av2l_j-OQ ev)[email protected]
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