Midnite king local food joint
Executive summary
Midnite king Corporation is a leading food service business and recognized all over the world. It operates in the food industry and style themselves after western food chain in the likes of Buger King and McDonald. In the past few years, the fast food outlet has been dipping and there are concerns to take it back on track. The managing director has tasked me with addressing the issue, which I will in this paper. The paper will be a marketing plan highlighting Midnite king’s PEST issues and SWOT issues. This will further enhance me to present a marketing management strategy for the purposes of improving the sales.
Introduction
The corporation had opened many upcoming restaurants in more than ten countries. This amplified the revenues to 3.4 billion dollars every twelve months. Midnite king became extremely busy in that it opens a new restaurant every forty days, which is, yet for confirmation. It has half the market share of burger king, which is its closest United States competitor. Through its twenty three thousand restaurants internationally, Midnite king serves about 1% of the world’s population on any given day. In early years, Midnite king developed the most sold out hamburger, big Mac, to feed construction workforce. The biggest attraction and the backbone of the corporation are Big Mac. By constantly coming up with new-flagged items to add on the menu, maintain it Midnite king is ready for action advantage. Towards the end of this paper, there will be answers for every question concerning Midnite king local food joint (John, 2008, p134).
Recommendations
Product
Product is the main thing connecting and service provider or seller with the buyer or customer. In Midnite king local food outlet, sales revolve mainly on fast foods. In order to receive the most customers, it must put good products on the menu. The company should revise the menu and include foods that are balanced in terms of diet and hygienic. Whenever you go to the local food outlet, you find the same items meaning there is no variety of foods. It would be good to include special days that will enable customers to buy certain products from the joint and get one different product free. For example, if Midnite King introduced a terrific Wednesday where customers buy one hamburger and get another one free, sales would go up because many will flock the outlet to get the offer.
Price
Whenever there is more than one service provider, customers always tend to compare prices to see where they will spend less and on quality products. It would not be wise to lower prices because the local food joint has already been making losses due to the poor sales and large workforce. I would recommend that the joint reduces 50 cent in every product doing bad in the market and increase those doing with the same amount. This way, customers will assume that the outlet has lowered all prices and they will make it their preferred choice. This alone will not improve sales; it will require that the outlet get more products that are cost friendly and services that customers can all afford. One of the reasons as to why the local food joint is having bad sales is because of price (john, 2008, p456).
Promotion
As I mentioned in the beginning, promotion always attracts customers. The issue of giving out gifts after purchase retains and attracts new customers. Away from that, Midnite king local food joint should organize road shows and promotions to rich out to those who know not about them. It is the high time the marketing team came up with a tangible campaign that will see the local food joint get popular.
Placement
This means that the outlet should place as many outlets as possible all over the country. One outlet cannot compete in a big industry where outlets like McDonald and the Burger king who have more than five outlets in the same region. While placing the new outlets, Midnite king local food joint should ensure that workforce and employees is customer oriented. I will personally monitor and evaluate the employees and those who fail to satisfy customers in the new markets will face disciplinary action.
Evaluation
Over a given fiscal period, every commercial company measures their degree of success by looking at the bottom line. The success of the market mainly depends on methods used to generate sales. This regardless of what the business deals with. Such methods are marketing, evaluation and control of all factors contained by the enterprise. The company needs to control, influence and evaluate all factors that are outside the venture. The degree of success it will have to the market mainly depends on to what extent to which the enterprise will employ the right methods in these fields.
Midnite king’s ability to put into action what it has learned through the research of the market is a function to being successful in the consumer arena. Apart from being successful, it should stay and thrive there. This is only possible through measuring and monitoring the results against forecasts. This means that in order to attain goals and objectives, the foregoing management must pin point and understand the process made at every step. The steps in selling and support are the course of action to improve the quality, value and reputation of its offering.
Midnite King local food joint is one of the most successful markets driven company in the world. This is regardless of what it offers in the menus individually. The company has successfully managed to build a brand franchise with young people and segments of population higher than thirty do. Adults like the company recognized have a variety of items to choose. The company also realized that the choices that adults make are subject to influence the co-workers, associates and the circumstances. However, children do not have all these luxuries since they are a small product of the surroundings they operate in which is home and school.
Environmental analysis
Social culture
Customers are people who change money for organization’s goods or services. Midnite king local food joint has targeted young people as the main customers for many years. This has changed more in this current decade than before since it has turned to a more wide-ranging market. Midnite king now concentrates on overall family, targeting different groups ranging from children to the elderly. Products such as the happy meal for children and Egg Mc Muffin for the elderly make it satisfy all its consumers across the board.
Midnite king also realized the fast-changing world and the need of healthier food. This is because there are groups that demand fast foods that are low in calories to keep their bodies fit. This was an opportunity that Midnite king responded to without hesitation and introduced fresh and pioneering products. The new product that Midnite king introduced was more or less the same like the real thing; it tasted the ordinary hamburger but prepared from something like soya beans.
Midnite king local food joint mostly targets the working and middle class groups respectively. Who are more likely to pop in to a fast-food restaurant, since the lead and fast life and would probably need a fast meal in order to resume to their duties
Competitor
Competitors are parties that compete with others for resources. From the research findings, Midnite king has two competitors in the food industry both direct and indirect competitors.. Throughout the research, I have identified many competitors including K. F. C, T. G. I. Friday, Henry J. beans and Popeye. Henry J. beans, also known, as Hank’s, is more of a hanging joint since it is a bar and restaurant. All these companies compete indirectly with McDonalds for hamburgers, chicken and fry (John, 2008, p76).
Direct competitors are the firms that produce and offer the same products and services as McDonalds. This is where I came up with three main direct competitors namely, Burger king, Wendy’s and Hardees’s. Burger king is the closest rival to McDonalds in the fast-food industry (John, 2008, p98).
It operates in almost the same countries as McDonalds and has more than nine thousand six hundred and forty four restaurants worldwide. Wendy’s and Hardees come in the second and third position respectively. Harness’s is the only direct competitor to McDonalds for juicy Burger in the Lebanese market.
Technology
Many third world workers or poor people from all over the world rely on Midnite king local food joint to provide them with jobs. By way of internet, magazines and television, people get openings to new cultures in a fast way than ever before. Integration of culture, all the technology and business, has introduced a new era. The United States is losing some of its distinctiveness Due to the spread of corporate consolidation regionally this is a negative side. For instance, when traveling through the world, same restaurants and stores appear common. That is what global companies like McDonald and Midnite king local food joint are doing and will continue to do (John, 2008, p848).
SWOT Analysis
Strengths
Weaknesses
1. In 2008, the company ranked the number one and the company with the most admired food.
2. Midnite king has the most recognizable logo in the world.
3. They are a global country operating in more than 119 countries and more than 24000 restaurants from all over the world.
4. They open new restaurants in different cultures and successfully and easily adapt.
1. Their marketing test for pizza failed and they can however not compete with other pizza outlets.
2. They have a very high turnover of employees hence a lot of money spent during training.
3. They do not concentrate much on making money from organic foods.
4. They have problems with fluctuations in net and operating profit.
1. They should provide free food items like sugar free foods.
2. The introduction of healthy hamburger considering today’s health conscious societies.
3. In 2008, the business concentrated more on breakfast items.
1. They make impact to children of young age, which is the right way since the children grow up knowing Midnite king’s products are the best.
2. The food supply being contaminated.
3. The major competitors like K F C
PEST analysis
PEST analysis (political, economical, social, and technological) assesses a market, including competitors, from the standpoint of a particular proposition or a business (Wendy, 2006, p149).
Political
-Current and future environmental and ecological legislation
-international legislation regulatory bodies
-international regulatory processes
-government policies
Economical
-home and overseas economy trends including those of McDonalds and Burger king
-specific industry factors and distribution trends
-customer and end-users drivers, interest and exchange rates For example dollars
Patterns of consumer buying
-lifestyle and demographic trends
-competition
-promotions like going round giving free samples to potential customers
Technological
-development in competing technology
-maturity of technology like it uses television to reach out to people
-technology access like television, radios and computers
SMART goals
Midnite king’s goals should have the description of accomplishments and not activities. The acronym stands for Specific, Measurable, Achievable, Relevant and time bound. In Midnite King local food joint, specific goals address who, what, when, where and why. In this, I will create a good platform for sales and resolve discrepancies of accounting within 48 hours. This will see things flow and meet deadlines
Measurable goal objectives include descriptive and numeric measures that give definitions to quantity, cost and most important sales. I will secure pledges by the end of each week to see that the company recovers from the initial losses. My goals are all achievable in that I will let the employees and staff control and influence them. I will obtain the professional certification of sales in the next two years and as a result, the sales will have gone up with a higher margin than the current one. Not forgetting that my goals are relevant and instrumental to department’s mission, I will implement and develop major plan of recruitment. This will increase the number of candidates by almost ten percent and if not, I will have created an impact on the current workforce. With regard to the issue of time bound, I will check the sales, marketing and promotion tools in all outlets in every six months.
Marketing management strategy and plan in order to improve sales and contingency plan
Globalization is a reality and no longer an abstraction that small and large firms face. For the firms that want to survive in the 21st century, they must confront globalization. It is no longer an option choosing not to be part of the global market. Regardless of size, all firms must come up with strategies to enable them adapt and change configuration of these markets. The company is integrating all its resources to have a good marketing management strategy since integration is the only way that can improve a business. For example, all the departments Midnite King has a good way of bringing together all the departments regardless of whether it is the kitchen coming together with the office. This is for the purposes of improving the business and ensuring that the employees get what they want to improve customer relations as well.
Today’s managers find it difficult to navigate global waters and establish direction successfully. Contending with complexity is a product of contextual factors in the global environment. Confronting competition is a very good way of responding to such challenges regardless of the degree of global market.
Conscience relates to the responsibilities morally and socially in the market place globally. Many companies have created more awareness on the need to take measures that limit the environment from going bad. Another major area is customer education and well being of the public and this is in respect to social responsibility. Mostly this is an important issue in the developing or third world countries where poor customers are not able to judge on the success of apple. The standards of product safety should be parallel to international standards. This should present even where such regulations do not exist.
Again for the contingency plan, the business has put up good fire fighting equipments such that if the strategy of being cautious in the kitchen and the entire workplace, nothing goes wrong. The company has ensured that there is a plan b at all times. The contingency plan has helped the business grow especially when it gets itself in a compromising situation. For example, when employees fail to come to work, there are people ready to do the work previously done by the gone employee.
SWOT and PEST issue
Regardless of where the firm is intends to go within the global market; there must be response to forces shaping the challenges present and the global surroundings. This makes it clear that in order for the firm to be successful, it must put more effort in its market than in the past. The current global market has many challenges to managers and they therefore require different responses on the organization depending on the level of involvement.
The company should aim at increasing sales to reach or get close to the competitors. This will only be possible if the company employs more work force, opens more outlets in almost every region of the country and have customer oriented staff. Not making contingency plan will continue to affect the company and in no time, it will close down due to lack of finances to buy additional stock for cooking and selling to the esteemed customers. All sales representatives with have good knowledge and customer care and be well behaved in and out of workplace. They will be well equipped and sales will be an independent department.
It is evident that business organizations have definite responsibilities to their customers and employees. The responsibilities set out in legislation resemble consumer and employment law. In modern times, the views taken by business organizations are more or less broader than before and more inclusive. This is the concept of corporate social responsibility (C S R) which means that legal, ethical and social responsibilities to a diverse range of stakeholders' recognition by the business (Wendy, 2006,p 87).
Conclusion
I believe that Midnite king’s program for improving on sales is consistent. The compensation received by Midnite king’s executives is based both on the individual and company performance. The company is keen to giving quality services to both employees and shareholders. The programs at Midnite king intend to trigger off and retain high sales and grades of executive teams, which is the key factor to their future success. The corporation continues to monitor their programs due to the high competition in the market globally. Senior managerial talent is what the company competes to achieve. Midnite king is confident in its programs for motivating the executive that in turn help them maintain continuing the company’s sustainable growth.
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