Should Finance Do A Forecast Plan When Launch New Product Fast Food Market Forecast – The Subway Example of Strategic Product Positioning

You are searching about Should Finance Do A Forecast Plan When Launch New Product, today we will share with you article about Should Finance Do A Forecast Plan When Launch New Product was compiled and edited by our team from many sources on the internet. Hope this article on the topic Should Finance Do A Forecast Plan When Launch New Product is useful to you.

Fast Food Market Forecast – The Subway Example of Strategic Product Positioning

The fast food market in the United States has seen a healthy increase in growth within the last three years which is forecast to continue. The fast food market is forecast to maintain its current growth expectations, with an estimated compound annual growth rate (CAGR) of 2.3% over the five-year period 2005-2010. This is expected to make the market worth $57.6 billion by the end of 2010. Drivers of growth include the growing number of Americans in the workplace, which reduces the amount of time spent cooking at home. In 2010, the United States fast food market was estimated to be worth $57.6 billion, an increase of 12.1% since 2005.

Forecast volume

In 2010, the United States fast food market was estimated to have a volume of 37 billion transactions (Figure 1). This represents an increase of 5.3% since 2005. The CAGR of the market volume during the period 2005-2010 is predicted to be 1%.

success factors

Success factors for fast food franchises include healthy menu selections, brand consistency, low start-up costs, franchisee support, and products and marketing aimed at consumer convenience. Subway ® represents a poignant example of a fast food franchise poised for success in the fast food market of the future. Their strategies transcend the fast food market and are applicable to many other markets and products.

SWOT analysis

Subway sandwich shops are well positioned to leverage their strengths and address appropriate threats, weaknesses and opportunities. The table below highlights these strengths, weaknesses, opportunities, and threats.

Powers

  • Size and number stores and channels
  • The menu reflects the demand for fresh, healthy and fast.
  • Use of non-traditional channels.
  • Partnership with the American Heart Association.
  • Global brand recognition.
  • Custom menu offers.
  • Low franchise start up costs.
  • Franchise training is structured, concise and designed to ensure quick start-up and success.

Weaknesses

  • The decor is old.
  • Some franchisees are unhappy.
  • Service delivery is inconsistent from store to store.
  • Employee turnover is high.
  • There is no control over franchise saturation in given market areas.

opportunities

  • Continue to grow global business.
  • Update the decor to encourage more dine-in business.
  • Improve the customer service model.
  • Continue to expand channel opportunities to include event wagons.
  • Improve franchisee relationships.
  • Use with a drive-thru business.
  • Expand packaged dessert offerings.
  • Continue to modify and refresh menu offerings.
  • Develop additional partnerships with movie producers and toy manufacturers to promote new movie releases through children’s menu packaging and co-branding opportunities.

threat

  • FRANCHISE DISTURBANCE OR LITIGATION.
  • Food contamination (spinach).
  • Competition.
  • Interest cost.
  • Economic recession.
  • vandalism
  • Law suits.

Competitive analysis

Subway is not without competitive pressures. Major competitors include Yum! Brands, McDonald’s, Wendy’s and Jack in the Box. Yum! Brands is the world’s largest with 33,000 restaurants in more than 100 countries. The company’s four highly recognized brands, KFC, Pizza Hut, Long John Silver’s and Taco Bell, are global leaders in the Mexican, chicken, pizza, and quick-service seafood categories. Yum! It has a workforce of 272,000 employees and is headquartered in Louisville, Kentucky.

McDonald’s Corporation (McDonald’s) is the world’s largest foodservice retailing chain with 31,000 fast-food restaurants in 119 countries. The company also operates restaurants under the brand names ‘The Boston Market’ and ‘Chipotle Mexican Grill’. McDonald’s operates largely in the US and UK and is headquartered in Oak Brook, Illinois and employs 447,000 people.

Wendy’s International (Wendy’s) operates three fast food restaurants: Wendy’s (the world’s third largest burger chain), Tim Horton’s, and Baja Fresh. Wendy’s operates more than 9700 restaurants in 20 countries, is included in Fortune magazine’s list of the top 500 American companies, is headquartered in Dublin, Ohio and employs approximately 57,000 people.

Jack in the Box owns, operates and franchises Jack in the Box quick-service hamburger restaurants and Qudoba Mexican Grill fast-casual restaurants and is headquartered in San Diego, California.

Target markets

The increase in sandwich sales is the result of a decrease in consumer interest in hamburgers and fries and an increase in demand for healthier options. Sandwich sales are growing at 15 percent year-over-year, with burgers and steak sales growing at more than 3 percent.

Current marketing program

A new breed of restaurant is making huge gains against market-saturated hamburger establishments. Called “fast-casual,” these Mexican chains and sandwich restaurants offer freshly baked breads and specialty sandwiches.

Responding to evolving consumer expectations for healthy, fresh, custom-made sandwiches; Subway’s marketing program addresses these expectations through several approaches. Most notable were the television commercials that featured Jared. These ads emphasize the healthy aspects of Subway sandwiches by highlighting 245-pound Jared while eating a Subway sandwich diet. Subway also markets through national sponsorships to events such as American Heart Association Heart Walks and triathlons, and local events such as children’s sports teams.

The Subway example represents excellent examples of marketing and product strategies that focus on market demand, consumer trends, product profitability and innovation. Clear brand identity, brand and product associations, and marketing strategies that create market demands have strategically positioned Subway to advance market share in the near future. These marketing strategies are also basic marketing strategies that can be replicated beyond the fast food market. Does your marketing strategy tie brand identity to products that support the future direction of your market?

Video about Should Finance Do A Forecast Plan When Launch New Product

You can see more content about Should Finance Do A Forecast Plan When Launch New Product on our youtube channel: Click Here

Question about Should Finance Do A Forecast Plan When Launch New Product

If you have any questions about Should Finance Do A Forecast Plan When Launch New Product, please let us know, all your questions or suggestions will help us improve in the following articles!

The article Should Finance Do A Forecast Plan When Launch New Product was compiled by me and my team from many sources. If you find the article Should Finance Do A Forecast Plan When Launch New Product helpful to you, please support the team Like or Share!

Rate Articles Should Finance Do A Forecast Plan When Launch New Product

Rate: 4-5 stars
Ratings: 9399
Views: 99109050

Search keywords Should Finance Do A Forecast Plan When Launch New Product

Should Finance Do A Forecast Plan When Launch New Product
way Should Finance Do A Forecast Plan When Launch New Product
tutorial Should Finance Do A Forecast Plan When Launch New Product
Should Finance Do A Forecast Plan When Launch New Product free
#Fast #Food #Market #Forecast #Subway #Strategic #Product #Positioning

Source: https://ezinearticles.com/?Fast-Food-Market-Forecast—The-Subway-Example-of-Strategic-Product-Positioning&id=735770

Related Posts

default-image-feature

Should Finance Company Operations Be Merged Into The Banking Industry Mergers And Acquisitions

You are searching about Should Finance Company Operations Be Merged Into The Banking Industry, today we will share with you article about Should Finance Company Operations Be…

default-image-feature

Should Dental Providers Discuss Finances With Patients Prior To Treatment PT and Chiropractic Are Not Covered Concurrently

You are searching about Should Dental Providers Discuss Finances With Patients Prior To Treatment, today we will share with you article about Should Dental Providers Discuss Finances…

default-image-feature

Should Countries Have To Support Finances Education Health Illegal Immigrants Immigration and Identity Theft – Are You a Victim?

You are searching about Should Countries Have To Support Finances Education Health Illegal Immigrants, today we will share with you article about Should Countries Have To Support…

default-image-feature

Should College Student Personal Finance And Credit Card Be Limited Saving Money Tips – Manage Your Money the Good Old Fashioned Way

You are searching about Should College Student Personal Finance And Credit Card Be Limited, today we will share with you article about Should College Student Personal Finance…

default-image-feature

Should A Partnership Finance Or Pay Cash For Work Truck 3 Ways to Start an Auto Repossession Business Without a Tow Truck

You are searching about Should A Partnership Finance Or Pay Cash For Work Truck, today we will share with you article about Should A Partnership Finance Or…

default-image-feature

Should A Minister Be In Charge Of The Church Finances Prophecy and the Online Church

You are searching about Should A Minister Be In Charge Of The Church Finances, today we will share with you article about Should A Minister Be In…