Introduction
The objective of the Marketing Plan Term paper is to help you understand the planning process and how the marketing plan components are developed.
Through this planning process you will address factors like market segmentation, target marketing, positioning, franchise agreement, and store façade and atmospherics.
The Marketing Plan Term Paper is organized into four (4) parts. Each part is designed to take you through a sequential planning process:
Part-1 - TARGET MARKETING - Defining product or service and segmenting the market.
Part-2 - DISTRIBUTION - Selecting and planning the locations for your retail store.
Part-3 - FRANCHISING - Developing a plan for joining a franchise.
Part-4 - PROMOTION - Developing a promotion and advertising plan.
IN THIS SECTION YOU WILL ONLY DO PART-1 - TARGET MARKETING and it's sub-parts.
PART-I - TARGET MARKETING
THE BUSINESS
The business for which you will be developing several components of a marketing plan is a "fast-food" restaurant. A fast-food business includes both a product element - the food, and a service element - the interaction between the customer and the restaurant staff. The business will be initially established by you and then expanded by offering the sale of franchise agreements. You will be learning about creating a business and developing a marketing plan for that business, plus expanding the business through a franchise distribution system.
THE PRODUCT
The menu (food product) you will offer in your restaurant will consist of a LOW-FAT, LOW-CHOLESTEROL, LOW-ACID food items and drinks. This means the menu will not contain any: 1) citrus fruit, 2) tomatoes or tomato products, 3) items containing caffeine and chocolate). The purpose of this menu is to provide a healthy alternative to the existing fast-food restaurants and address the health and fitness concerns of customers at the same time.
THE TARGET MARKET
We have already established that you are working with a fast-food restaurant that provides a "health-food" type menu. You must now develop a written profile of the target market in order to develop your marketing mix strategy.
REQUIRED Part-A
Based on that facts presented for this situation, your first assignment is to develop a written description of the "target market" that would be most likely to frequent this type of fast-food restaurant and for whom the marketing mix will be designed.
Be sure to address each of the points in the segmentation basis listed below (review Chapter-8 in the text).
a. Demographic description of the target market:
Age segmentation - describe the age group or groups expected to be attracted to your product and service
Gender segmentation - describe the gender expected to be attracted to your product and service
Income segmentation - describe the income level expected to be attracted to your product and service
Ethnic segmentation - describe the ethnic groups expected to be attracted to your product and service
Family life cycle segmentation - describe the various family life cycle stages that you think will be attracted to your product and service
b. Psychographic description of the target market
Personality characteristics - describe the personality characteristics of the customers and include characteristics such as values and goals.
Motive characteristics - describe the motives of customers such as emotions, rationality, prestige needs, and common sense.
Lifestyle characteristics - describe the lifestyle activities of customers and include beliefs, income level, education, and fitness goals.
REQUIRED Part-B
Based on the demographic and psychographic descriptions you developed in REQUIRED Part-A, your second assignment is to develop a written statement on POSITIONING - This is a written narrative describing why and how you think the target market you have identified will be attracted to go to your restaurant and consume your product.