Read the scenario and respond to the checklist items based on the Reading and Le
ID: 377530 • Letter: R
Question
Read the scenario and respond to the checklist items based on the Reading and Learning Activities.
Scenario: Tony is the owner of Tony’s Pizzeria, which is located in the city closest to where you live. Tony created a market research survey to help him better understand his customers and summarized results in the analysis provided here.
Tony has now hired you to summarize the basic components of a marketing strategy for his business.
Checklist: Summarize a marketing strategy for Tony’s Pizzeria addressing each step.
Step 1: Mission
Redefine the Tony’s Pizzeria Mission. Tony’s current mission is more of a product oriented mission statement which is, “We make pizza.”
Using the online library, write a brief summary about what constitutes a strong market-oriented mission statement.
Redefine Tony’s mission by making the focus more market-oriented.
Step 2: Assessment
Describe a market research method that Tony could use to add to the already-known internal strengths and weaknesses information, other than the survey that has already been done. Explain your response.
Conduct a situation analysis for Tony’s Pizzeria and add items to the existing analysis previously made by Tony. Using the online library, conduct an environment scan on identifying additional marketing opportunities or threats to the existing analysis. Tip: You can use the Library to do a search under marketing and then “pizza.”
After completing your situation analysis, identify Tony’s competitive advantage against his direct (other pizza restaurants - at least one) and non-direct competitors (other quick service categories - at least one) in the city nearest to where you live.
What advice would you give to Tony in his quest to build a sustainable competitive advantage?
Step 3: Marketing Objectives
Set Marketing Plan Objectives for Tony’s.
Provide at least 3 S.M.A.R.T. goals (i.e., Specific, Measurable, Achievable, Realistic and Time-bounded).
Step 4: Marketing Strategy
Describe your target market strategy.
Provide 4 strategies for growth using market penetration, market development, product development, and diversification.
Describe your marketing mix strategy.
Step 5: Implementation
Explain how you will turn your plan into a reality.
Step 6: Evaluation
How will you evaluate and control your marketing strategy?
Situation Analysis:
Internal Strengths
Internal Weaknesses
Good food
Declining sales
Warm atmosphere
Older menu
Good brand awareness
Long wait time for service and delivery
High prices
Moderate level of market share in the area
External Opportunities
External Threats
Internal Strengths
Internal Weaknesses
Good food
Declining sales
Warm atmosphere
Older menu
Good brand awareness
Long wait time for service and delivery
High prices
Moderate level of market share in the area
External Opportunities
External Threats
Explanation / Answer
Let's go step by step and see what should be the approach to think about:
Step 1: Mission: it can be like " We make awesome Pizza every day just outside your door". You have to check the pain points prior to designing the mission and have to claim that you will be the one who will cross this barrier.
Step 2: Tony need to identify the core expectation of customers. The hypothesis is- "Customers only want quickly delivered tasty pizza". Now the hypothesis can be tested by collecting the data and then analyzing it.
Data Collection: A) Can go for a 2 min survey with a chocolate. B) Can go with the secondary survey by other companies.
Tony need to include the latest Pizza tastes and also need to consider its marketing. This can be a competitive advantage for Tony if he positions its Pizza house as a hub for all type of tastes in Pizza.
Strategy: The company can increase the tangible components so as to divert the customer concern of slow service. They can showcase the Video of the particular customer's Pizza making and let the customer enjoy in the LCD of the Restaurant hall.
Step 3: Make the service delivery quick by standardizing the steps and focus on employee training.
Make it a menu pricing strategy so as to respond the high price of pizza to the customer.
Update the menu with latest tastes.
Step 4, 5 and 6: With existing product: The target market can be the family customers because they can wait for service and are easy to engage in other activities.
Product development: Tony needs to include additional and latest tastes of Pizza on the menu and should be known for regular menu updates. Also with new tastes, they can target the youth who are pizza lovers and pizza geeks.
Market Development: Make the customer aware of latest tastes and try to include international tastes of Pizza in the menu(Italian Sub Type)
Market Penetration: Tony can have some discount offers on some days like KFC has some offers on Wednesday.
Diversification: They can diversify by becoming a knowledge hub for latest pizza and known for latest pizza tastes.
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