Target Marketing Strategy

Target Market Strategy

“After evaluating different segments, the company must decide which and how many segments it will target. A target market consists of a set of buyers who share common needs or characteristics that the company decides to serve.”

(Armstrong, G., & Kotler, P. (2011). Marketing: An introduction (10th ed., p. 186). Boston: Prentice Hall.) Our customers will be people looking for great tasting food, without the time or opportunity to travel to a restaurant and spend the time required to eat there. As stated in my pitch, we will provide a hand-held meal, costing little dough, for those on the go.

A food truck is perfectly suited for working people. Since Las Vegas is a thriving community, Cluck Wagon should be able thrive with it. “A company should target segments in which it can profitably generate the greatest customer value and sustain it over time.” (Armstrong, G., & Kotler, P. (2013). Marketing: An introduction (11th ed., p. 49-50). Boston: Prentice Hall.) Most working people have access to the internet, and therefore use, or are capable of using, social media. We will be able to reach out to people of all walks of life to connect with customers on their computers and phones.

Situation or SWOT Analysis

Situation or SWOT Analysis

According to Gary Armstrong, “managing the marketing function begins with a complete analysis of the company’s situation. The marketer should conduct a SWOT analysis, by which it evaluates the company’s overall strengths (S), weaknesses (W), opportunities (O), and threats (T)…” (Armstrong, G., & Kotler, P. (2013). Marketing: An introduction (11th ed., p. 54). Boston: Prentice Hall.) And so, I will begin my SWOT Analysis. The goal of SWOT Analysis is to allow a business to “…analyze its markets and marketing environment to find attractive opportunities and identify environmental threats.” (Armstrong, G., & Kotler, P. (2013). Marketing: An introduction (11th ed., p. 54). Boston: Prentice Hall.) Once this analysis has been performed, it can be used as a tool to capitalize on its strengths, and minimize its weaknesses.

Strengths

• Mobility: Since the Cluck Wagon is mobile, it will be able to go to wherever the customers are. We will be able to determine demand prior to arriving at destinations, by utilizing the various social media outlets, combined with our website.
• Experience: I have years of previous experience in food service industry. I have designed, opened and helped operate several restaurants. This experience should help me avoid various pitfalls.

Weaknesses

• Nomadic Nature: We will be without a fixed ‘home base’. The fact that we will have no fixed location means that some customers will have to actively seek out where we will be on any given occasion, and then come to us. Also, we will have to pre-plan and/or negotiate new locations daily. This could translate into daily challenges.

Opportunities

• Customer Base: When it comes to customers, the sky is the limit. Las Vegas is a great location, supplying a virtual plethora of tourists, and approximately two million locals. Customers can be found on construction sites, warehouses and factories, and offices all over the city. There are many potential customers here, and with them, lots of opportunity.

Threats

• Competition: There are already many food trucks operating in Las Vegas. This means that we will have to carve out a niche for ourselves, by chipping away at the business of others.
• Fuel Prices: The price of fuel fluctuates, wildly at times. Since we will rely on it to get to destinations, our bottom line could be adversely affected.

Objectives

Objectives

In his text, Marketing: An Introduction, Gary Armstrong states that “the company’s objectives should be defined in specific terms so management can measure progress and plan corrective action if needed to stay on track.” (Armstrong, G., & Kotler, P. (2011). Marketing: An introduction (10th ed., p. MP7). Boston: Prentice Hall.) Furthermore, “each broad marketing strategy must then be defined in greater detail...In this way, the firm’s mission is translated into a set of objectives...” (Armstrong, G., & Kotler, P. (2011). Marketing: An introduction (10th ed., p. 43). Boston: Prentice Hall.) I will set aggressive but achievable objectives for Cluck Wagon for its first two years.

First-Year Objectives

During its initial year of operation, Cluck Wagon aims to achieve approximately $100k in sales, with break-even achieved by the year’s end. With an average cover of $10*, that equates with a sales goal of just under 30 customers served per day.

Second-Year Objectives

Double sales from the first year, to $200,000.

Issues

In launching this new brand, the main issue will be establishing awareness of our new brand and its brand image, as well as positioning the company, with regard to its relevant target customer segments.

Cluck Wagon will accomplish its goals, in part through employing social media to promote itself, which we hope in turn will generate ‘word of mouth’. Establishing and nurturing relationships with distributors and partners will also be critical. We will measure brand awareness quarterly, in order to adjust our marketing effort, as necessary.

*Estimate. Actual cover average to be based on market research, and the ability to create recipes whose costs fit within numbers garnered by such research.

EOC Week 7: The Pitch

The Pitch

I have decided that my ‘pop-up restaurant’ will be a food truck. This truck will provide fresh, healthy and nutritious food made with high quality ingredients, to those who want great tasting food but don’t wish to, or can't afford to, take time out of their schedule for a sit-down dining experience.

“Consumers’ needs and wants are fulfilled through market offerings—some combination of products, services, information, or experiences offered to a market to satisfy a need or want.” (Armstrong, G., & Kotler, P. (2013). Marketing: An introduction (11th ed., p. 6). Boston: Prentice Hall.) My truck’s market offerings will be easy-to-eat sandwiches/wraps made of pitas, tortillas, or lettuce. These will feature a small palette of ingredients, artistically combined to create delightful signature sandwiches. Recipes will be created for many different regions around the world, each designed with the rich flavors characteristic of the cuisine represented. All sandwiches will be assembled per order, using freshly prepared ingredients.

Generally, we will stick to simple ingredients. The main ingredient will be grilled chicken. As far as meat selection, we will only utilize chicken (and a vegetarian chicken alternative) in the menu. This decision will drastically improve our efficiency. It will also help our bottom line, as chicken is the most profitable of all the meats we could serve. Perhaps most importantly, people from all backgrounds love it! “Chicken is the only food in the world that transcends race, religion and gender.” (“International Franchising.” Chicken Kitchen. CK Systems, Inc., 2007. Web. 22 Sept. 2015. <http://www.chickenkitchen.com/#international>).

For all intents and purposes, our sandwiches will be gourmet, but we will downplay that point somewhat, as we do not want to alienate less particular clientele with a potentially off-putting tag. People will understand that these are not ordinary sandwiches soon enough, when they see and taste them!

My pitch: A hand-held meal, costing little dough, for those on the go.

“Simply put, marketing is managing profitable customer relationships. The aim of marketing is to create value for customers and to capture value from customers in return.” (Armstrong, G., & Kotler, P. (2013). Marketing: An introduction (11th ed., p. 2). Boston: Prentice Hall.) I will elaborate on the Cluck Wagon marketing strategy, including how value will be created, in the blog posts that follow.

Week 5 EOC: Social Networks and Job Hunting

It is amazing how rapidly technology is changing life, at home and in the workplace. I remember my first job searches. I combed the phone book for the names of firms and, hopefully, some information about what made the firm stand out from the rest. Beyond that, magazine searches through microfiche film seemed to be the technique that beared the most fruit. When it came to sharing with an employer, I had to rely on a resume and a cover letter, and a large portfolio full of physical samples of my work.

Today, an employer might find me by noticing an online presence that I maintain, without any thought to squiring a job. As in the real world, some people online are more highly sought after than others. In fact, employers are now seeking brand ambassadors online. As our text correctly states, "...thanks to modern technology, armed with little more than a video camera, laptop, and a cell phone, anyone can spread the word about products and brand experiences to thousands, even millions, of other consumers."

According to the Wall Street Journal, "...(Monster.com) plans to launch a program where companies can offer employees cash rewards for making referrals through (Facebook)." If people start making money for referring online friends, the trend could explode. We'll see what happens.

Week 6 EOC: Me x3

Three Products That Define Who I Am

iPhone 6+

 

I have been a fan of the iPhone since the beginning. Once I picked one up, and realized I understood everything about it intuitively, I was hooked. I am currently on my fourth iPhone, which is the iPhone 6+. I resisted getting it for a while. The screen seemed so large it was almost grotesque, and I was sure it would not fit comfortably in my pocket. But as before, once it was in my hands I knew I had to have it. I am now to the point that I don’t know how I was able to use such a small screen before, and it fits perfectly in my pocket. I hate using the phone, but love the apps. They allow me to be me.

 

Music Collection

My music collection isn’t exactly a product, so I’ll use the hard drive the collection resides on to describe it. It is a 3TB Seagate External Hard Drive. I use it to manage a collection of music that exceeds 120,000 songs. I have been a lifelong music lover, and the collection encompasses all genres of music. I add to it regularly.

 

 

 

 

 

 

 

Vizio 80” TV

I love the theater experience, especially when I can have it in the convenience of my own home! I moved recently, and have had to purchase to new furnishings. I abandoned a 106” projection screen system with the old house, and opted to buy a VIZIO M-Series 80" Class Ultra HD Full‑Array LED Smart TV for the new house. As far as systems go, LED beats projection on many levels, assuming the same size screen can be acquired. I no longer require a nearly complete dark environment to watch television, I don’t lose half of my image when someone’s head moves in front of the projector, and I no longer have to replace lamps at $500 a pop when they fail. In fact, the VIZIO requires very little power, or the related power cost, to operate. The VIZIO has four times the pixels of my old HD system. It is a smart TV, and comes equipped with dual-band Wi-Fi, a six-core processor. I can also browse and stream content from Netflix and others straight from the TV. Once settled into the new place, I expect to host parties to enjoy movies and/or TV shows.

Week 4 EOC: New Phone App

Virtual Valet

For professionals, there never seems to be enough time to get everything done that needs to be done, outside of the office. There have been many times when I have worked 50+ hour weeks, leaving many household chores and other responsibilities unattended. I have (halfheartedly) joked with coworkers about the need for an office "gopher," who would be responsible for taking care of things that required attention, but the job made very difficult. Hell, we had an "office runner." Why couldn't the runner pick up my dry cleaning on his way back to the office? How about have my car cleaned, or filled with gas?

This service could be like a Molly Maid operation (or an expansion of the original concept), where people who were not necessarily skilled could work part or full time, fulfilling the needs of busy people.

I wouldn't need to know the person too well, so long as he or she had good credentials, and probably carried insurance, etc. I already place trust in complete strangers when I leave my car with them for service. This wouldn't have to be any more scary.

Services might include...

(This list could grow quite large!)

Laundry or Dry Cleaning

Housecleaning

Auto Registration

Auto Maintenance

Auto Cleaning

Auto Fueling

Food Preparation / Service

Home Services (Landscaping, Pool, etc.)

(These services could be handled like property managers or condominium owners. Virtual Valet wouldn't have to actually perform the service, though they could. All that would really be required is that they make sure that the work was taken care of.)

The service could be like the game, The Sims, in which one simply needs to pick up the phone to call a baby sitter or housekeeper, solving a problem of time. Call Virtual Valet, then go do the thing which is really requiring your attention, whatever it be!