Marketing plan development Essay Example | Topics and Well Written Essays - 500 words

Marketing plan development - Essay Example Also there is still perception among some of the customers that fast-food are rich in fat and are not healthy. As far as specific is concerned, sandwiches are treated as the most favorite as it holds over 30 % of the market share. Research has shown that, people mainly love sandwiches due to the trend of short lunch breaks triggering the demand for light snacks and lunches. At this point of time Hotdog doesn’t top the menu list of the people of UK when it comes to Fast Foods (Mintzberg and Quinn, 1996, p. 67). After analyzing the market scenario, business and product life cycle it is believed that out of the four probable strategies market development strategy could be best suited. Market development strategy is used when an existing product is launched in a new market. The risk factor in this case is medium. It is suggested that American Hot Dog Cart should focus on designing an efficient distribution network and repositioning strategy. One of the most famous ways to expand market reach is to setup franchisee network. Most of the major food chains follow this strategy. As mentioned in before, fast foods especially non vegetarian fast foods are still perceived as high-fat unhealthy products. This something the American Hot Dog has to change. Certain degree of augmentation can help the company in creating product differentiation. For example providing salads along with hot-dog can help the company successfully reposition the product. Also social media channels can be used to directly engag e with the customers. Social media can be used to show the target customers the way the food is being made. The main USP of the marketing campaign is the healthy ingredients and low fat content to change the perception (Palepu and Bernad, 2007, p. 65). Out of the four strategies Cost Leadership seems best suited for American Hot Dog Cart. The UK fast food market is a broad one. Hence the company may use the industry