Marketing Report for Opening a Fast Food Business

Marketing Report for Opening a Fast Food Business

SUBJECT: Opening a new fast food restaurant

1. BACKGROUND INFORMATION

From all the research I have carried out I have been able to find out

what people want and what the competition is like. This information

links back to my original task, of opening a new business and make it

survive. This links in because in order for my business to survive I

will have to know what the people want and how I am going to persuade

people to but my fast food rather than the competition’s fast food.

Marketing mix is the combination of factors that help the business

sell their product. These four factors are the product, the price, the

place and the promotion (also known as the 4 P’s).

It is important for my business to get the marketing mix right because

if you don’t sell the right product the product won’t sell and

therefore you won’t make a profit. If you don’t sell your product at

the right price, either you will make it too high or too low. If you

made the price too high little or no people will buy the product

meaning you won’t make a profit. If you made the price too low then

you may sell a lot of the product but you wont make a lot of profit

because you are selling at a low price.

As well as the product and the price being an important factor, the

place you decide to sell the product is very important. It is

important because if you try to sell your product in an area with a

low resident population there would be no one to buy your product and

again causing you to make no profit.

The final factor to consider is promotion. The promotion you choose to

use for your busines...

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For my fast food business I had several ways I could use promotion

these were; Media advertising such as television, radio, cinema,

newspapers etc, or I could use an advertising agency. I could use a

direct approach by sending out leaflets or flyers. I could also use

sales promotions such as money off, value offers like 3 for the price

of 2 or competitions and free gifts.

I have decided to use television advertising. I have decided to use

Flyers and Posters because as you can see, from the survey I carried

out, 12 out of 20 people said that in adverts, they like to see

bright, bold colours, persuading text, celebrity endorsements,

statistics and originality; In a Flyer/Poster, I can use all of these

methods whereas in other mediums, you sometimes can’t e.g. you cant

use colours or images in a radio advert.