Four Dimensions of Marketing
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There are four dimensions of marketing that are given particular attention by marketers--product, price, placement, and promotion. These are called the four p's. They constitute a marketing mix which serves as a guide to the thinking of the marketer, telling him or her to channel energies into specific areas so as to address the needs and wants of the consumer. Placement refers to the way the product is positioned in the market and placed before the public. For both these chains, placement involves decisions as to regional positioning, specific locations, design of store, and special placement for particular markets. Taco Bell and Del Taco target the same basic market--people who want Mexican fast-food at a low price. Each chain has stores with the same basic structure--a dining room with seats for those who wish to eat at the restaurant, an outside window for people who walk up and request items, and a drive-through for people who do not want to get out of their cars. In terms of the four p's, the two restaurants are alike in their marketing strategy up to a point. Their products are similar if not identical, though the menu for Taco Bell is more varied than that for Del Taco. Both, however, make the same basic products--tacos, burritos, and related items, all of which can be classified as fast-food with a Mexican flavor. Neither is truly authentic in the way the products are produced--these are Americanized versions of tacos and burritos, produced in an assembly-
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ide a large menu of items for under a dollar and have positioned themselves in the market to provide quantities of food at a low price for individuals and families. There are differences, but they are not so great as to be definitive for most consumers.
The two companies differ greatly in terms of promotion and placement. both companies advertise on television and in print, but the advertising budget for Taco Bell is much greater. for one thing, the company was owned and thus backed by the Pepsicola Company. PepsiCo owned three restaurant companies, Pizza Hut, Taco Bell, and Kentucky Fried Chicken. Their combined operating profits are rising more than 20 percent annually, as opposed to only 8 percent even for the industry giant, MacDonald's. Del Taco has a much smaller rate of growth. Taco Bell's promotional budget is thus considerably higher, and the television advertising campaign currently in full swing is only one example of this, a campaign involving a talking chihuahua in various situations. This comes after the long-lasting "Run for the Border" campaign (Sellers 62).
The PepsiCo operation increased the process of selling its Pizza Hut and Taco Bell outlets to franchisees and added Kentucky Fried Chicken outlets i
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Approximate Word count = 1334
Approximate Pages = 5 (250 words per page)
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