Final assignment principles of marketing topic create marketing mix (4ps) strategy for your pizza

SWOT analysis: Strengths:  New and unique Flavor: Texas Pizza create a unique pizza product with a typical Texas flavors: Spicy American Sausage, Grilled Chicken, Spicy Beef, Pineapple

VIETNAM NATIONAL UNIVERSITY UNIVERSITY OF ECONOMIC AND BUSINESS

FINAL ASSIGNMENT PRINCIPLES OF MARKETING

TOPIC Create marketing mix (4Ps) strategy for your pizza.

Student: Tran mai Phuong Student code: 21050307 Class: QH-2021-E QTKD CLC1 Lectures: PH.D HOANG THI BAO THOA, PH.D NGUYEN VAN PHUONG

Ha Noi – 2023

TABLE OF CONTENTS:

I Introduction: 3

II SWOT analysis: 4

III Analyze the process of market segmentation, choosing targeted market and product positioning: 6

1 Market segmentation: 6

2 Targeted market: 7

3 Product positioning: 7

IV Analyze customer’s behaviors to the service/product 8

1 Characteristics Affecting Consumer Behavior: 8

2 The Buyer Decision Process: 8

V Marketing Mix Strategy of Inspire Pizza: 9

1 Product: 9

2 Price: 10

3 Place: 11

4 Promotion: 12

REFERENCES: 12

I Introduction:

You want a pizza with full of mozzarella cheese, but not all pizzerias can provide that You want a cake with a crispy base that doesn't get hard when eaten, you are familiar with Italian pizzas and want to find new flavors?

Don't worry, go to Texas corner Pizza and try the pizzas from the texas region The

diversity of America will bring you extremely new, unique and delicious pizzas

Here, we offer Deep Dish Pizzas This is an American-style pizza, the dough of this pizza

is not as thin as Italian-style pizza, but the dough will be a deeply sunken round shape, sure to make you excited and satisfied

Pizza Texas has a rich, rich flavor that is unique to the Southern United States and is suitable for many people's palates In addition, it is large in size and is a dish suitable for the whole family or group of friends

What's better than enjoying a Texas pizza right in a our restaurant with an American atmosphere Visit us now!

The Deep dish pizza from Texas corner Pizza

II SWOT analysis:

Strengths:

 New and unique Flavor: Texas Pizza create a unique pizza product with a typical

Texas flavors: Spicy American Sausage, Grilled Chicken, Spicy Beef, Pineapple, Onion, Bell Pepper, Mozzarella Cheese and Tomato Sauce (must try) This will bring

a unique and new experience to customers

 Size: Pizzas with the exception of mozzarella pizza are usually served in large sizes,

intended for many people to eat This could be a big plus for the restaurant

 Affordable: An American-style pizza with quality fillings, filling but with a

reasonable price, can be delivered to the place will make customers happy and want to come back

 The freshness and vibrancy of the brand image: this will attract and captivate the

attention of young consumers, making it easier for them to relate to the brand This relatability establishes a connection and builds trust, as customers perceive the brand

as understanding their needs and preferences By embracing a youthful and vibrant brand image, companies can enhance their appeal and effectively engage with their target audience

 Caring staff and dedicate service: Dedicated staff can help build long-term

relationships with customers With care and dedication, employees are capable of creating a loyal customer community and benefiting the Texas Pizza business

 Restaurant space: A fully equipped, comfortable and Texas-style place will help

increase customer experience

Weaknesses:

 Competition: Texas corner Pizza may not have the resources to compete with other

pizza shops New stores often have a hard time building a reputation and loyal customers This can cause a chain of difficulties in attracting and retaining

customers Competing with other pizza brands, already available and popular in the area, can be another challenge

 Location: The location can put you in direct competition with other pizzerias in the

area But if the store is not located in a favorable location, this can affect your ability to attract customers Also, the rent is high

 Cost: If the cost of production and store operation is too high or not well managed,

the store can lose its competitive advantage with reasonable prices

Opportunities:

 Increased product variety: Stores can expand menus and offer new pizzas, drinks,

and other side dishes to boost sales and attract customers Such as burgers, ribs, soups, convenient combos,

 Dedicated service: Increase the customer experience by expand their delivery

service, to reach more customers

 Online Marketing Expansion: Stores can leverage social media channels to

promote products and build brands

Threats:

 Economy and finance conditions: When the economy is tough, customers can

reduce unnecessary spending, leading to a decrease in purchasing ability

 Major competitors in the industry can cut prices to compete with Texas Corner Pizza

 Cost and Profit Management: The pizzeria business can require a tight cost

management process Cooking materials, ingredients and labor are important cost factors To ensure profitability, you need to skillfully manage costs without

compromising the quality of your products and services

 Popularity of Texas pizza: If Texas pizza is not popular or well known in your area,

it will be a challenge to introduce and reach new customers You can reshape your marketing and promotion strategy to increase awareness and interest from

customers

 Quick cooking and serving process: Pizza is a dish that requires a quick serving

time To meet the needs of your customers, you need to detail and optimize your cooking and serving processes efficiently

Pizza Texas can capitalize on strengths and opportunities to differentiate and attract customers At the same time, it is necessary to face and handle weaknesses and threats properly to ensure the success and sustainable development of the business

III Analyze the process of market segmentation, choosing targeted market and

product positioning :

1 Market segmentation:

1.1 Demographic segmetation:

 Age: Different age groups may have distinct pizza preferences

- Children and teen: Their decisions are quite dependent on the family, families

with children may prioritize family-friendly options and they tend to chosse the flavors are suitable for children's taste Sometimes, this age group decisions are influenced by their parents That’s why the mozzarella pizza product of ours is going to be the best choice for them because of the richness in cheese flavor and the fun experience when customers can lengthen the cheese fiber

- Young adults and college students: This group typically seeks unique and

adventurous food experiences Offer innovative flavors, including spicier options, to appeal to their adventurous taste buds Highlight the authenticity and regional aspects of Texas-style pizza to create a distinctive appeal So that,

we can create more pizza flavors to attract customers

- Adults and seniors: Having diverse preferences Seek quality and authenticity

That’s why we should have variety of choices, ilike vegetarian or gluten-free options, to accommodate different dietary needs Emphasize the quality and craftsmanship of the ingredients used in the pizza Focus on creating a

comfortable and welcoming environment, which can encourage seniors to dine

in Offer senior discounts or special promotions to attract this segment

 Income: We offering options that cater to various income levels, whether budget-friendly choices or premium gourmet options, with a good average entry level or more, we make sure you that our price stragety will sastify you and bring to you

an excellent experiences

1.2 Psychographic Segmentation:

 Taste preferences: Targeting individuals who enjoy pizza, bold, flavorful, and spicy food experiences, and those seeking unique and regional culinary

experiences

 Lifestyle: Focusing on individuals who appreciate the convenience of ordering pizza as a quick meal solution or those who value the social aspect of dining out or ordering in Usually these people will be in the group college students or aldults 1.3 Behavioral Segmentation:

 Occasions: Customers will want to order our pizzas, catering services for their events, family gatherings, or busy, prefer delivery and takeaway options for quick and convenient meals

 Loyalty and frequency: Developing strategies to retain loyal customers and

encourage repeat visits, such as loyalty programs or personalized offers

 Price sensitivity: Offering options for different budget ranges, such as affordable lunch specials or value meal deals

1.4 Geographic Segmentation:

 Local market: Targeting individuals within a specific local area where the Texas-flavored pizza shop is located, such as residents or workers in the immediate vicinity, the location has many companies, offices, schools,

 Tourists: Catering to visitors who are exploring Texas and seeking authentic local flavors

2 Targeted market:

2.1 Customers seeking unique and regional culinary experiences:

Targeting customers who seek unique and regional culinary experiences allows your Texas style pizza restaurant to stand out from the competition By offering distinctive flavors and ingredients that showcase the authenticity of Texas cuisine, you can differentiate your restaurant from traditional pizza establishments

2.2 Customers who enjoys pizza and the convenience that it brings up:

This customer file is usually objects such as children, families, students and office workers They are people with youthful personality and lifestyle, prefer the taste of pizza or spend a lot of time focusing on work, want a dish that is both delicious and convenient

3 Product positioning:

 Unique flavor: With Texas authenticity, we emphasize the unique and authentic

flavors of Texas in your pizza offerings We use local ingredients, traditional cooking methods, and regional culinary influences to prove that our restaurant as the go-to place for an authentic Texas pizza experience

 Gourmet and Artisanal: We focus on high-quality ingredients, handcrafted dough,

and premium toppings to attract customers looking for a more upscale pizza experience

 Family-Friendly: Come to us you will find options suitable for children, family

meal deals, and a welcoming atmosphere

 Quick and Convenient: Here we offer fast service, online ordering, and efficient

delivery to cater to busy individuals or those in search of a hassle-free pizza

experience

IV Analyze customer’s behaviors to the service/product

1 Characteristics Affecting Consumer Behavior:

1.1 Psychological factors:

 Motivation: The love for pizza and curiosity for new flavors of

texas pizza will make customers come and want to enjoy our product

 Perception: With visual and experiential needs, we design tour restaurant

with texas style and realistic design with eye-catching and delicious images and notes on the ingredients of each pizza, thereby increasing customer recognition

 Beliefs and attitudes: customers will believe in the quality, and

the brand’s commitment to the product, and want to use our products the next time for the quality

1.2 Social factors:

Encourage customers to share their satisfied experiences and

promote our healthy pizzas through word-of-mouth New customers are affected by family, review from the internet They easily make decisions to use products when they are introduced by KOLs, famous people,

2 The Buyer Decision Process:

2.1 Need recognition: customers who are interested in

Texas-style design and those who appreciate transparency about the ingredients used in our Texas styled pizza will be more likely to seek out and appreciate Texas-styled pizza

2.2 Information searching: Then customers may use various methods to search for

Texas-style pizza, such as searching online for restaurants that offer Texas-style pizza, asking for recommendations from friends or family members who have had Texas-style pizza before, or looking for advertisements or promotions for Texas-style pizza Understading customers' information search behavior will help us develop a strong online presence with reliable information to assist customers in their decision-making process

2.3 Evaluation of alternatives: Our unique flavor and methods in making a Texas

– styled pizza with that is our dedicated service will satisfy and retain our

customers

2.4 Purchase decision: Here, consumers decide to purchase our tasty

pizzas based on their assessment of value, alignment with their preferences, and trust in our brand Understand these factors will help us make the purchasing process convenient and

straightforward, whether through online ordering, phone calls,

or in-person visits

2.5 Post-Purchase Evaluation: After purchasing and trying the products, the

customer evaluates whether it meets their expectations They may leave reviews

or provide feedback, make a decision for future purchases and influence the purchase decisions of others That’s why we should monitor customers feedback to increase efficiency

V Marketing Mix Strategy of Inspire Pizza :

1 Product:

Product attributes:

 Size:

Size small (S): about 12 inches, often serve for 1 person

Size medium (M): about 14 inches, often serve 2 -3 people, giving

a good time spending a meal with your friend

Size large (L): very ideal size for sharing with your families and groups of friends Often 16 inches

Size extra large (XL): about 28 inches This size is an interesting highlight to increase customer experience For the purpose of sharing the large pizza culture of Texas, this size will make the restaurant unique, attract customers and also saving money when go in a big group

 Features and product line: Here we serve: pepperoni, tuna,

cheese, BBQ chicken, Exspecially, our cheese type pizza only serve in medium and Large size and also have a metal tripod and candles for keep heat and your cheese quality

 Convenience: we also serve: fries, noodles and drinks to

complete your meals Allowing customers to easily order and receive their pizza through various channels, such as in-store (take-away), online, or mobile apps like Shopeefood, Grabfood, Baemin, Loship

 Style and design: characteristic, eye-catching, easy to identify.

2 Price:

Our prices based on factors such as ingredient quality,

customization options, and market value helps ensure that our

prices align with the value perceived by customers With the desire to bring a typical Texas pizza, we choose to implement a value-based

pricing strategy

This approach focuses on setting prices on the perceived value that our pizzas offer to customers With the hope of retaining customers

by the taste and quality of the food, this pricing strategy will suit us Size small (S): 159.000 VND

Size medium (M): 199.000 VND

Size large (L): 259.000 VND

Size Extra large (XL): 279.000 VND

Cost and profit:

Percentage ratio of

cost

Rent

10.000.000 – 15.000.000/per moth Approximately

Depreciation of fixed

Electricity, water,

communication system 3.500.000 Employee salary 20-30% Other expenses (insurance,

expenses incurred ) 1.000.000

Estimated profit margin per pizza: 10 % of the pizza's value

3 Place:

Physical stores

 Location: from 25-50m2 and near college campuses, company, on the main streets These locations ensure high visibility, attracting potential customers

 Design: we only have one restaurant in Ha Noi, we design physical space

with texas style and create a welcoming atmosphere for

customers

 Seating Capacity: Determine the appropriate seating capacity

based on a target market and space availability of about 30-40

people Wcith all kinds of tables for different kinds of groups