MARKETING PLAN TEMPLATE (Replace this line with your title)

Marketing Plan Template (Replace this line with your title)

Contents

Executive SummaryCompany ProfileMarket Segmentation & TargetingSituation and Company AnalysisEthics and Social ResponsibilityMarketing Information and ResearchCustomer Decision-Making ProfilePositioning and DifferentiationBrandingMarketing Mix (4Ps)Product StrategyPricing StrategyPlace: Distribution StrategyPromotion: Integrated Marketing Communications StrategyBudgetAction PlanRisk FactorsAttributions

Executive Summary

Buffalo Wings is a franchise that offers both food and drinks and is a sports bar. Being that most restaurants do not actually sports, then one is likely to face close to no competition. With signature dishes, sauces and wings and having an actual sports atmosphere, the franchise will attract many people. An analyses of the economic and market analyses proves challenges an organization may face. The restraint should be able to integrate itself in the community and create its own niche and not force itself in the market. While staying true to the spirit of sustainable business practice and social cooperate responsibility, the company aims at being able to give back to the community especially when it comes to sports. In running a marketing strategy, the aim is to attract more customers and this may be done through better brand placement and positioning. Promotions will target major sporting events loved by the Americans as well as it should appeal to the sports-fan between the ages of 18 and above.

Company Profile

Buffalo Wild Wings

Restaurant Industry

Headquarters: Minneapolis, MN USA

Year founded: 1982

The number of employees: 3,400

Annual revenue (estimated): 2 billion

Major products and/or services: Wings, beer, sauces

Target customers: Sports fans, video gamers, trivia fans

Distribution channel(s): Local Buffalo Wild Wings distributors

Key competitors: Applebees, Olive Garden, Chili’s.

Link to website: https://www.buffalowildwings.com/

Link to Yahoo! Finance information page (for public companies): https://finance.yahoo.com/company/buffalo-wilds

Market Segmentation & Targeting

For decades, people have stated to love fast foods. Buffalo wild wings thrives at quenching the thirst for a cold soda on a sunny weekend out and also serves tantalizing wings and fries, with fast and excellent service customers get satisfied and happy.

Our core targets include youngsters, singles, and those currently enrolled in college and high school. The family unit is also a target for the business; it shall appeal to families with young children. The business will also target both genders with a little skew towards male teen customers because of they are likely to drop by for bites to fuel them for the rest of the day.

The business targets young Minneapolis citizens as the main market. The premise is situated in a prime location where they meet and hang out after school. Due to vigorous extra curricula activities among Minneapolis young people, they often have their meals in malls where buffalo wild wings is located and they tend to flock the premise after school.

The secondary market segment is the working Minneapolis population. with a number of shopping malls in Minneapolis the number of people who may rely on fast foods is quite high and hence making that population a segment to be targeted by Buffalo Wild Wings. Minneapolis is also a known tourist destination and hence tourists make the third segment of the potential customers who may flock Buffalo Wild wings.

Buffalo Wild wings plans to majorly focus on serving the youngsters and teenagers in Minneapolis. the group has been selected because they are the most frequent customers and hence Buffalo Wild Wings has a goal to be the “Extraordinary fast foods place.” and we trust that right target segment that will steer the brand is the youngsters and teenagers. The teens stick to the pocket friendly dishes and in return, they save the company as the cost on budget is reduced and the profit margins go up.

Situation and Company Analysis

Potatoes are readily available in the United States hence the basic material for the business will be easily obtained. The kids are also given sufficient amount of money by their parents to purchase their food and hence they will certainly opt for fast foods. Lifestyle changes are also influencing consumer purchases, their food and entertainment choices. the changes taking place in the economy include, the professional class has immensely grown meaning individuals have some disposable income that they are willing to use.

Technological advancements in the industry have also been seen and as a result, advertising value addition and even improved customer experience and satisfaction as well improved delivery services are some of the benefits that come with technological advancement. Technology has undeniably made everything easier.

For the business to operate in Minneapolis, it certainly has to get the appropriate documents from the licensing authorities and clearance for the health department because it deals with foods for human consumption. Political environment is stable and hence the company will thrive due to the political stability.

SWOT Analysis

HELPFUL Ideas HARMFUL Concerns

Internal Strengths

Helpful experienced Owner-Operator

Limited competition in Minneapolis

Ability to sale products online and do deliveries

Highly visible website Weaknesses

Products can be quickly offered by competitors

High Operation Cost

Limited Flexibility Pricing

External Opportunities

Continued expansion for online sales

Ability to grow and develop online stores

Acquisition of additional rounds of capital

Advancement in technology and the new innovations that ensure the business operates smoothly

Possible advancement and sale of the business Threats

Changes in regulations that can impact the business

The business products are sold by competitors

Costs continually increase as the company increases

Mission, Objectives & Goals

Our main goal is to be one of the most successful restaurant with the best wings in Minneapolis.

Objectives

To establish a presence as a successful local fast food outlet and gain a market share in USA’s food industry

To make Buffalo Wild Wings a spot for mall-goers

To expand into a number of outlets by the third year

Goals

Create a unique, innovative, entertaining menu that will differentiate us from the rest of the competition

Control costs at all times

Sell the products that are of the highest quality

Provide 100% satisfaction to our customers and maintaining the level of excellence services among other competitors

Encourage the two most important values in food industry; brand and image, as these two ingredients are a couple of main drivers in marketing communications

Get access to high-traffic shopping malls near the target market

Promote good values of company culture and business philosophy

Ethics and Social Responsibility

Current Status

First thing that the organization is doing is encouraging a clean environment. Being a diner where people can carry take out, they are encouraged to bring back the plastics because the company has partnered with a recycling company. This is to ensure that there is less disposal of plastics in the environment. The organization also has a youth sports team that teaches the children how to succeed in the field as well as life. The company offers both the gear and the transportation needed ensuring even children from underserved community participate. The Eat Wings Raise fund has been a vital campaign in donating funds that help youth sport, military family and disaster relief efforts.

Recommendations

Doing away with plastics especially for dine outs as people are less likely to return plastics back to the shop

Consumer education on how consumerism affects environmental pollution such as disposal of large position of foods

The organization should do food drive for the homeless.

Improved customer care services as servers need to be more friendly to customers.

Marketing Information and Research

Research Question

The most important question the organization is trying to answer is what the needs and wishes of the target customers are.

Information Needed

The kind of information needed to make useful marketing decisions include; what do the target customers think of Buffalo Wild Wings? The question tries to answer what the organization can do to encourage the customers to consume their products the more and to encourage others to do the same. A question to the already existing customers is also important in a bid to understand their product or service knowledge and how often they consume the product/service and what they think about the products/service. It is also necessary to ask those who prefer other brands that their reasons are, answer their questions in a satisfactory manner, and end up winning them to your side. Asking about the products that sell the most is paramount, as well as understanding the products that grow in decline and those that are receiving the best rates and referrals.

Research Recommendations

The necessary information about the business can be acquired by conducting a research where the study population will be the target customers. Another source of information would be from personal experience and knowledge, when employees really understand the markets, then they are in a position give the relevant information to steer the business forward. Regular data from the existing customers can be another source of information and the person tasked with collecting information should be persuasive and very imaginative.

Customer Decision-Making Profile

Identifying the Customer and Problem

Identifying the customer and the problem is arguably the most powerful marketing strategy and tool, it enables the decision makers to ensure that marketing is effective because the customers are identified and considered and decisions on how their satisfaction will be obtained is made. the best strategy to be utilized is segmentation. a segment is defined as a group of people with similar needs and are also a part of the general market. The division of the market into segments enables the business to reach its important customers effectively and to efficiently provide the products and services.

Factors Influencing Customer Decisions

Customer decisions to purchase a product or service are influenced by a number of factors. One of the factors is geographical; in this case, the location of the customer influences their buying powers. In the urban areas for example, customers tend to consume a lot of fast food because of their busy schedules and the lifestyle in the city. Personal and demographic factors also play a greater role in influencing the purchasing power of customers. Male teen often purchases fast food because they do not give much thought to their bodies like their female counterparts. The family unit also may be a contributing factor; young families may often have taken-outs because fast food thrill children and their parents may give in as they try to make them happy.

Reaching the Customer

The enterprise will focus on reaching the customer by using the example of successful business enterprises also it will ensure they do not at all cost tamper on the quality of the products and the services they are offering. Consistence is another important strategy in getting to the customer and the availability of a variety where the customer can choose.

Positioning and Differentiation

Competitive Advantages

Buffalo Wild wings has a competitive advantage over its main competitors it may focus on having a unique product and the best dipping sauces something their competitors might not be doing. it is important to also adopt an enthusiastic culture in the business as well having friendly staff that reflects the company’s culture.

Market Niche and Positioning Strategy

Positioning strategy also enables the decision makers to understand where the customers think about the business and that information will help the organization to improve on the delivery of services and the communication of the improvements to the customers. Market Niche is a strategy that the organization must hack. it is important for the organization to ensure it places its products and offers the service in the right place.

Positioning Statement

The position statement leads in making and planning the marketing activity. The positioning statement will be to increase customer awareness in the locality. every strategy and effort will be geared towards getting the customers to know who Buffalo wild wings are.

Repositioning Considerations

Yes, I do not recommend brand repositioning because it gives a company a new face and most people will often want to be associated with a brand new thing. Repositioning will help the company to be able to implement consumer needs and it is a better way one can beat competition easily.

Branding

Brand Description

The aim is to establish a distinct brand that will certainly stand out from the competitors. The logo is to be eye catching and distinct.

Brand Promise

The fries will be made by 100%fresh potatoes and with the best prices in town.

Brand Voice and Personality

Brand is excellently Delicious.

Brand never compromises on quality.

Brand Positioning and Strategy

There shall be a grand opening in a central place and colorful banners bearing the distinct logo will be displayed. A particular place in the mall will be the tester market and the most delicious wings prepared and letting out the aroma of freshly fried fries inviting people to taste the products.

When marketing information and analysis is appropriately done and the most appropriate information obtained it sets the business way above its competitors and it is safe to say Knowledge is Power against competition.

Marketing Mix (4Ps)

Product Strategy

Online Doctor deals with prescription and over the counter medication from renowned brands across the globe, the products are accompanied by a service and is at the introduction stage of the product life cycle. Allowing customers to interact with medical staff and doctors to interpret the prescription notes will go a long way in fitting the general X and Y market-a demographic that craves convenience.

•What level of quality and consistency does the offering have?

Doctors that can see patients online and recommend simple drugs for simple ailments and follow up reminders to ensure clients follow the dosage present the quality of the services which guarantees consistency.

•How many features does it have and can they be removed or added?

Online medical assessments

Repeat prescriptions

Free delivery

Fast selling brands

Medical devices

All these features of the business are essential and would not be removed, however, over time delivery will be expanded to cover more regions of the country and ultimately introduce services to external markets.

•How well does your product or service deliver what the customer values? How can it improve?

Repeat precisions are excellent after service.

Online prescriptions by physicians if they deemed fit is also a service the consumers consider critical.

Improvement can come in the form of more diversification in medical and medical devices brands and more investment in expensive drugs.

•What improvements would help your offering compete more effectively?

Low prices will go a long way in increasing competitive power.

The ability to deliver further than towns near the warehouses will mean venturing in areas the competition is yet to reach. Revenues from these areas will be useful in employing measures that suppress the competition.

Pricing Strategy

The medical products sold on Online Doctor are market standards that require low pricing sourcing to cover for the deficit created by free delivery. Exemplary customer service offsets any thought of expensive prices in the minds of consumers. Competitors are large established e-pharmacies with high prices because of the trust they have generated over the years and the effect of dealing with things branded premium.

•How sensitive are your customers to changes in price?

Customers are in search of ways to fill their prescriptions without using the tedious way of seeing a doctor. And because they consist of a young general of white color workers there is not much strain about the price.

•What revenue you need to break even and achieve profitability?

$175,000 is the amount required to breakeven.

•What does the price say about your product in terms of value, quality, prestige, etc.?

The product definitely elicits the feeling of prestige and offers tremendous value in terms of location and quality. The medicine and materials are sourced for renowned with generic ones branded as such to ensure the client is aware of the decision they are making.

Place: Distribution Strategy

The products are distributed from two warehouses located in Chicago and Joliet. There are no intermediaries and the companies supply chain is made of the supplier, the company, and the consumer. There are no actual disconnects but having small retailers use our online platform to sell their products is an incredible opportunity that is yet to be utilized. The business looks to venture into bulk buying to sell to retailers at wholesale prices. These retailers can sell on the platform or their stores and also sell their products separate from those offered by Online Doctor on its e-pharmacy platform.

•What are the best distribution channels and methods for you to use, and why?

The main distribution channel although indirect constitutes the manufacturer, online doctor, and customers because the e-pharmacy platform began as a retailer and wishes to maintain the status. Some products will be sold to retailers in wholesale to widen the company’s portfolio and inventory.

•Will you have a retail outlet and if so, where will it be located?

There is no physical location for the retail outlet. As an e-pharmacy, the business is located online. However, there are two warehouses in Chicago and Joliet as well as offices and server centers where all operations will be carried out. Contact with the customer will happen through the internet.

•In what geographic area(s) will your product/service be available?

The services will be available in Wisconsin, Kentucky, Michigan, Iowa, Indiana, Missouri, and Illinois. These are all states that border the state of Illinois where the warehouses are located. Plans are available to expand to other states with time.

Promotion: Integrated Marketing Communications Strategy

Approach

The global market for pharmacies have an annual customer base of 40 million with half that number looking for drugs online and the number is still growing and Online Doctor wishes to grow with them. The penetration strategy that includes selling at the cost price, which will be below the selling price of the competition, goes a long way in advertising the business. An initial opening ceremony will be the beginning of the marketing strategy where people will gather to celebrate the business’s inception. The business will rely more on video ads on social media and video platforms such as Facebook, Instagram, and YouTube. The importance of this is that these sponsored ads are accompanied by a link to the platform where the consumer by one click immediately interacts with the platform. Word of mouth marketing will be enhanced by providing incentives for clients that will bring referrals. Direct marketing will be applied to medical conferences and seminars. Traditional marketing including newspapers, TV, and radio commercials will take a small portion of the marketing strategy but will not be ignored entirely. Flyers and brochures will be put in strategic places such as the shops of partnering retailers. The business will also be listed in the yellow pages since the platform has also gone digital.

Goal

The primary goal of Online Doctor’s marketing the customer base at an annual rate of 5% in the first year and 7.5% in the following years and to create a long-term professional relationship with its clientele. The idea is to get a client and retain them. The campaign will target younger people between the ages of 25 to 40 who are active on the internet and seek services that are convenient like purchases that are delivered to their doorstep. Ads in traditional platforms such as the TV, radio, and newspapers will target older people from the age of 55 who require certain drugs for comorbid diseases as well as medical devices.

Messages

Message: Having trouble handling your dosage, get the prescription and a manager.

Message pillar: Some people are heard saying they would rather get an injection that deals with swallowing pills regularly because they tend to forget.

Proof point: re-prescription is a simple reminder through message alerts.

Call to action: Buy drugs on a platform that reminds you when it’s time to use them.

Promotional Mix and IMC Tools

Digital Marketing

Advertisements on popular blogs and application developed for mobile phones

MARKETING PLAN TEMPLATE (Replace this line with your title)

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