MGMT 350 Business Management Internship : Advantage and Business Expan

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1. This time, name a quick service restaurant (i.e., fast food) in which you have great amount of familiarity/knowledge and for which you will answer all of the marketing strategy questions.

5. Who is the target market for the service? Why do you believe this? What should be a future market segment and why? For this future market segment, what strategy should be used and why? Be specific.

6. Identify the market position that this service has. (Hint: market position is NOT size or share. One way to help you answer this question is to discuss what comes to the consumers minds when they are asked about the service.) Discuss the market strategy that should be used relative to the position identified. Does the company use this strategy? Make sure to provide specific examples. How effective is this position for your service? Discuss the potential effect of repositioning the service and what the company would need to do to reposition the service.

Answer:

1. Chick-fil-A: their business philosophy and corporate strategy

2. Competitive advantage and business expansion

The main reason behind the success of Chick-fil-A is its highly efficient brand positioning, which is an extremely important aspect of modern marketing. It helps in the occupation of a definite place in the minds of their customers or the target market. It seeks to increase and maximise the profits of the company by guiding the market strategies while also creating awareness among the customers (Khan, 2014). The main purpose with which Chick-fil-A was established was to serve God, and this mission statement guides all of their business decisions. Their main advantage is that they serve only the best and the freshest quality chicken and have a maximised customer interaction strategy. They maintain attentiveness and appreciate their customers, and are ready to make sure that they have the best experience at their outlets. Their advertising campaign with the cows saying Eat Mor Chikin laid stress on their point of difference and also made a mark in the minds of their customers ("Forbes Welcome", 2017). Their superior quality of food and customer service efficiency is practically unmatched, and the company has made use of this by expanding into newer markets. Their popularity has surpassed even Kentucky Fried Chicken, which was the former leader in fried chicken food chains. The company has also shown a remarkable growth yearly ever since it was founded in 1946. Their increased profits, their loyal customer base, and their continued expansion into other markets all demonstrate their successful brand positioning.

They do not give discounts and run all kinds of interesting promotions, and this has helped them to expand their business and build their reputation over all these years. They are now recognised as an innovator in the fast food industry, and are well equipped to keep pace with the ever-growing and competitive marketplace.

3. Porter’s five-forces analysis

Threat of new entrants: The market has the ability to adapt, and the competition in the food industry is intense, and thus many new companies may not choose to enter the market at this moment. Chick-fil-A already has a strong established market base and thus it will be difficult for new and upcoming brands to reach that position or overthrow them.

4. Target market of Chick-fil-A and future market segment

Owned originally by a family, Chick-fil-A continues to grow steadily and its sales are improving as well. They remain closed on Sundays because of their adherence to Christian values, and still have achieved the 5^th rank in the list of top 100 restaurants in the country. The rise in sales was about 11.7% in the last year, amounting to almost $3.5 million (Schultz, 2017). They specifically have the advantage of knowing what makes their target market happy, and they also sometimes are able to hit those places which the customer themselves did not know they needed. They do not only sell sandwiches, but are also involved with the local communities. They are involved with a college sponsorship for over the past seventeen years (Sterling, 2016), and they are aware of the fact that most people in the United States eat away from home, and often struggle to put food on the table.

5. Market position and identification strategy

6. Market share for the service and its growth

7. Market strategy

8. Role of social media in the promotion and branding of Chick-fil-A

References:

Blanchard, K., & Miller, M. (2014). The secret: what great leaders know and do. Berrett-Koehler Publishers.

Chick-fil-A is America’s favorite fast food chain, survey says. (2017). Fox News. Retrieved 17 July 2017, from https://www.foxnews.com/food-drink/2015/06/30/chick-fil-is-america-s-favorite-fast-food-chain-survey-says.html

Orozco, D. (2016). Using Social Media in Business Disputes. MIT Sloan Management Review.

Ritson, M., Clews, M., O'Reilly, L., O'Reilly, L., Week, M., & Reporters, M. et al. (2017). Brand management the Chick-fil-A way - Marketing Week. Marketing Week. Retrieved 17 July 2017, from https://www.marketingweek.com/2012/08/08/brand-management-the-chick-fil-a-way/