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Market Plan Essay

6407 words - 26 pages

Market planExecutive SummaryThe fast food industry's marketing plan discusses the products and services in detail. The plan will also cover the marketing strategies adopted by each company and will analyze the market trends and market needs. The target markets and the approaches chosen to address them are defined. It also discusses each competitor and the reasons for the industry's growth, the details about the advantages of using their products and services, their pricing, positioning, promotion strategy and the ways and means of achieving them.IntroductionThe decline of formal lunchtime is creating new market segments and strong growth in the fast food industry.Research suggest that most of us today eat our lunch at our desk and spend most of the night playing computer games, etc. fast food market is enjoying strong growth due to a range of new products that are positioned to exploit these changing life styles.It has been apparent for some years that increasing time pressure on consumers has been the main force behind the shift away from traditional mealtimes. Meal consumption is now fragmented into:More frequent and smaller mealsTaken in more diverse locationsOn the go consumption can be split into three key categories:On the move,Multi taskingAnd leisure.Hand- held snacks are well suited for all the three categories and there is high consumer demand. As more consumers take to eating while engaged in other activities, such as office work, playing computer games or commuting etc, hand held snacks are ideally poised to exploit this trend.The market plan for the fast food industry discusses the products and services offered by the industry, the strategies set by each of the company in the industry to enter the market and eventually capture the market.In addition to these environmental dynamics, the industry has identified market opportunities and is going to undertake substantial product innovation, advertising, promotion and consumer education programs, which increases product knowledge and the demand for the products in the industry.Market ResearchMarket research is one of the most important aspects of the marketing department. The marketing research is the source of identifying the market needs, target markets, changing patterns, environmental changes, social changes, changes in lifestyles, changing preferences and thus indicating the demand for the existing products, services and scope for the development of new products or services.We have done our market research before starting our business. The different sources utilized for this market research include internet, books, journal and television etc.. The decision to enter this business evolved from the study of market and its needs.The study incorporates(a)an analysis of product-market trends and opportunities within Australia(b)a review of product-markets in Australia including competitive threats and market opportunities(c)a review of the activities of major international Importers...

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