Marketing III Using a minimum of 600 words (12-point Times New Roman font, double spaced), and include a separate references page answer the following ques
Using a minimum of 600 words (12-point Times New Roman font, double spaced), and include a separate references page answer the following questions below. All content must show direct application to the topic and exclude definitions of terms and general explanations of generic marketing topics. The assignment should be submitted as a Microsoft Word document.
When completing an assignment for a given module, the student will assume the role of marketing manager for the selected organization. All student responses must be based on research. View the entire course textbook (all chapters) as a resource for the assignment, meaning it may be necessary to locate assignment-related material in chapters other than those corresponding with the module in which the assignment is located. While the effort has been made to ensure that all material necessary for assignment completion is found in the textbook, contact the instructor immediately if information needed to complete the assignment cannot be located in the textbook. The instructor will then provide instructions on locating the required material. Quotes must be minimized and long quotes (40 words or more) avoided.
Using a minimum of two scholarly marketing journals (Journal of Marketing, Journal of Marketing Research, Journal of Consumer Research, etc.), practitioner publications, and the course textbook (attached), the two parts of the assignment (attached) answer the below questions. Chick-fil-A will be the business we will be discussing to keep with the first two assignments.
Q1. Explain the organization’s product plan. (Ch. 8)
Q2. Explain the product’s/service’s current life cycle stage (introduction, growth, maturity or decline). Select one stage to discuss and omit the others. (Ch.8)
Q3. Discuss viable techniques of building the equity of the brand. (Ch.9)
Q4. Discuss several branding decisions recently made or appropriate to make. (Ch.9)
Q5. Discuss organizational efforts at customer satisfaction, loyalty, and retention. (Ch.10)
Q1. Provide a description of the product/service and a brief history of the firm.
1946 was the year when Truett Cathy founded the Dwarf Grill, before rebranding it as the Dwarf House and later to Chick-Fil-A in Atlanta. In this same year, Cathy created the company’s recipe (chicken sandwich). In 1984, the headquarters of this firm were established in Atlanta, just before opening a stand-alone eatery in 1986 (Chick-Fil-A, 2021). The company started its first campaign in 1995 and in 1996, it started sponsoring a bowl game. The firm’s sales surpassed two billion dollars in 2006, while it became a billion-dollar brand. Chick-Fil-A’s main products include chicken and poultry products, including scrambled burritos and waffle fries.
Q2. Explain your current or possible global marketing efforts.
The firm’s efforts to expand globally are built upon the expansion of its menu, which only revolves around chicken products. Given the limited nature of its goods, which has hindered it from expanding into other regions, the company has opted to broaden its menu to include items such as waffle fries. Therefore, Chick-Fil-A has been tirelessly working to retain and attract more clients from around the globe.
Q3. Explain the organization’s mission. Provide its mission statement or create one if necessary.
Chick-Fil-A’s mission statement illustrates the need for the firm to be the best quick-service restaurant in America that wins and keeps its customers. This means that the firm is convinced that it can win and retain customers by offering better products and services. Better products and services means that Chick-Fil-A offers foods that are of high quality, while its services ought to be quick and affordable at the same time. For Chick-fil-A, the purpose of a mission statement is to help the firm meet its objectives.
Q4. Explain your competitive strategy.
Chick-Fil-A’s operations complement its business philosophy of providing high-quality goods with superb service at reasonable prices. This company’s consumer-centric strategy will help it carve out a position in the industry. Marshall and Johnston (2019) illustrate that a company promoting and practicing a high level of customer focus is referred to as a customer-centric organization. It has gained a significant competitive edge not just through outstanding product development, but also through exceptional customer service. The organization delights its clients by establishing trust, which entails developing connections with them and learning about who they are, as well as their aspirations and desires. Despite being a fast-food restaurant, they seek to create a pleasurable time for every client while also having a beneficial impact on the community.
Q5. Conduct a SWOT (strengths, weaknesses, opportunities, threats) analysis for the organization
One of the key strengths that makes Chick-Fil-A the best is the services it provides to its customers. This customer service is made possible by the training that employees undergo, wherein the training is centered on understanding and happiness. Another strength is the firm’s menu selection, which includes chicken sandwiches instead of burgers. The firm also offers quality food products, which are as a result of Cathy, who took time in developing the original chicken sandwich recipe. Brand building can also be described as a strength given that it involves the local community. Powerful marketing efforts such as ‘Eat Mor Chikin’ aided in the brand’s growth (McGinty, 2019).
Poor geographic coverage can be described as a weakness because Chick-Fil-A’s presence is limited only to the US, meaning that its popularity is limited. Popularity among middle-income people in the US is a concern primarily because of the firm’s highly priced products.
Chick-Fil-A has an opportunity to expand to new markets such as the European ones which Marshall and Johnston (2019) name as the most successful. Here, its products can be well received, thus increasing its customer base. Health is a concern for customers, and this firm has the opportunity to reinvent itself by creating healthy food options. Although the company’s brand is recognizable, its involvement in many religious and political activities may turn off some consumers, and this implies that by rebranding itself, it might attract new ones. While the firm does provide the conventional chicken sandwich, it has to create new offerings to widen its popularity and expand its customer base.
The culture of Chick-Fil-A is often regarded as among the most orthodox in the world, earning it much criticism. While the firm’s branding is not political, it continuously provides financial support to ideological initiatives and activities, earning them a great deal of indignation from those opposing such efforts. The company’s revenue situation is impacted by intense rivalry from established companies such as McDonald’s and independent eateries. Changing health and economic policies might have a detrimental effect on the firm.
Johnston, M. W., & Marshall, G. W. (2019). Marketing Management. McGraw-Hill. 3rd Edition. https://www.acetermpaper.com/wp-content/uploads/2021/04/eBook-PDF-Marketing-Management-3rd-Edition-by-Greg-Marshall.pdf
McGinty. J. (2019). “Covert Cows. The Chicken Wire. https://thechickenwire.chick-fil-a.com/inside-chick-fil-a/covert-cows