Fast Food Retail Business

Name: MARTIN STANLEY KAMANGA

Student ID number: R2212D15689157
Module Name: MARKETING
UU-MKT-2000-ZM

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Introduction

Fast food retail businesses are typically part of a restaurant chain or franchise
operation that provides standardized ingredients and does not offer any waiter or
waitress table services but has a drive through or a walk up service window.
Many fast food retail business vary differently depending on the variety of food
that is offered and the mode of preparation and presentation while some are
quick and affordable others are expensive, it is necessary to explore much and
seek proper directions before we venture into a fast food retail business.

Obviously any fast food retail business has undergo through a strategic planning
in the sense that well established market plan gives beneficial results that benefit
different types of businesses and managers who fail in planning preparations are
subsequently planning to fail, in a fast food retail business one can either choose
to prepare a yearly plan, long term plan and strategic plan.

“ Planning is the first phase of the administrative action as it delimits

objectives that the administration wants to achieve as well as the way to
achieve them, we can then understand thus in the first step of the
management process followed by organization direction and finally control
as mentioned in Silva (2009)”

In accordance with Stoner and Freeman (1999) planning is divided into two
crucial phases, mainly establishing the goals to be achieved and the path to
achieve the goals set, and good strategic planning for fast food retail has to
involve food quality, customer services, atmosphere and also the social media for
purpose of marketing the product.

Furthermore the Marketing management concept has also to be applied in fast

food retail business, in the sense that customers will favor food products that are
easy to access and significantly at a reasonable price. This in turn directs the
management to concentrate on classifying the distribution and production
efficiency, since when there is no any food products the demand exceeds the
offer which is always required to be at balance for a profitable business taking
into consideration when to boost productivity at times when the food production
cost is very high.

Another useful concept in fast food retail business management is the selling
aspect whereby the product is required to undergo promotion by boosting its
sales either through social media or physically driven through or a walk up
service window, this leads to attracting more customers for the food products on
promotion which paves a way for a fast food retail business to take on at a very
large segment due to frequent demand for the product.

Marketing of the fast food retail has also to exhaust the marketing mix which has
a content to focus on use of a mix of tools in order to develop a profitable
business. The marketing part of the fats food retail services has to be effective
implementation and practice the Four Ps of marketing such as product, price,
place and promotion, it is evident that any successful business has to be
associated with the right product, right place, right price and at the right time.
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It is undoubtedly that launching a fast food retail business requires a lot of
resources and when one approaches the bank or any financial service institution
he or she is advised to embrace first the process of analyzing the Strength,
weakness, opportunities and threats (SWOT) in relation to the business of his or
her intention and choice which is the best way to present the current state of
business and how it can perform and compete on the market against competitors
keeping in mind the bad points of the business to be used to strengthen the
opportunities on the market.

The SWOT analysis section basically draws off the strength, weakness,
opportunities and threats. Strength in fast food retail business lies at what the
industry does best either in making “eating” an exciting and memorable
experience through the provision of services by serving tasty food meals and
taking into consideration the structure of pricing which should never scare away
customers,

Moreover the strength we also have the weaknesses which are in a number of
segments, mainly lack of consistent suppliers and non-availability of their food
forces customers to look for other destinations as the delay leads to consumer
dissatisfaction, Maenpaa and Brandt (2016).

As a result of the above weaknesses it is also necessary to measure and analyze

the opportunities in a fast food retail business. The best opportunities includes
providing delivery services through a set up or take out a drive through or a walk
up service window to satisfy the needs of the customers on the go, this may also
assist to examine chances of improving productivity.

Furthermore it is necessary to safeguard the fast food retail business against

threats their examination as part of the SWOT analysis and some of the threats
to be taken into consideration include low prices of competitors which might not
be a good news as it induces a discount burden on the business and if the prices
are not lowered the business would lose sale hence a lose-lose either way,

Another threat to be combated includes increase in prices mostly during

pandemics prices increase as well but in turn customers do not take the situation
lightly, the new street brand threat in the market may also cut down the sales and
profits in half and therefore new strategy has to be implemented in order to deal
with the whole situation urgently.

Wherefore in summary it is necessary to keep proper look out before one

ventures into a fast food retail business, by generally taking into consideration
the psychological phenomenon which is silently building up in society due to the
pressure towards the fast food retail business as a result of health consequences
after a long usage, eating frequent fast foods at restaurants can affect one’s
health negatively and social life breeding serious illness such as BP, obesity. All
in all it is necessary to safeguard our business by ensuring a safe food from
production to consumption as food is essential for life it gives us energy to grow,
learn, play and stay health. Without food we would not be able to survive

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REFERENCES

(a) Ahsan Ali Shaw , Marketing Tutor.net

(b) https://www.lawinsider.com.retail
(c) Kotler. P., Armstrong, G., Wong, V. and Saunders, J., (2008). Principles of
Marketing (5th Ed.). England: Prentice Hall
(d) Maenpaa and Brandt (2016)
(e) Stoner and Freeman (1999)
(f) Silva (2009)