The Marketing Mix

As a part of my business class/Institutional Foodservice, Production, and Management dietetic internship rotation, we are required to develop a breakfast marketing campaign. The reason for this project is to incorporate the marketing mix and to essentially improve breakfast sales at the Taziki’s Mediterranean café in the WVU Mountainlair. We are required to speak with the management for advice on what’s working and what’s not working within their breakfast menu and customer foundation. As an ISPP dietetic intern and graduate student, I am also required to apply this information to my Management Quality and Process/Performance Improvement Project, as well.

So, to manage marketing activities, managers must deal with variables relating to the marketing mix and the marketing environment. The marketing mix is defined as the specific combination of marketing elements used to achieve an organization’s objectives and to satisfy the target market. The marketing mix decision variables are product, price, place, and promotion. The marketing environment variables are political, legal, regulatory, societal, economic, competitive, and technological forces.

Product

A product can be a good, service, or an idea. Even though the manufacturing of products is not a marketing activity, research on customer needs and product design is. Product decisions focus on which products to develop, which current products to promote, and which products to discontinue. The term new product means it is a genuine innovation because it has not been served commercially yet. The term new to the chain, like McDonald’s Chicken McNuggets, are really an imitation of a successful product offered by another chain restaurant, like KFC’s chicken nuggets.

Price

Price is the amount of money charged for a product. Price competition has become very common in foodservice operations. Marketing managers usually are involved in establishing pricing policies for different products because consumers are concerned about the value obtained in the exchange. Price is a critical component of the marketing mix and often is used as a competitive tool. Price also helps establish a product’s image. The goal is to set the price at a point that customers perceive value, yet the company achieves the volume and profit it desires.

Promotion

Promotion is used to facilitate exchanges by informing prospective customers about an organization and its products. Promotion is used to increase public awareness about a new product, or to renew an interest in a product that is declining in popularity. The level of advertising in fast-casual dining, like Taziki’s Mediterranean Café, has become quite large.

Place

In marketing, place refers to the location, the place where food or services are offered. Increasingly, food is prepared somewhere else. Food manufacturers are preparing, packaging, and distributing menu items to restaurants and contract companies. Customers are noticing an increase in mobile carts and food trucks. This is giving the public more options when they are away from home- and at an affordable price as well.

mark mix

Microsoft Word - The Marketing Mix

Advertisements