Fast Food Product Analysis - Report Example

• Introduction

The study will mainly revolve around product analysis of a famous fast food restaurant. It has been observed that fast food industry sector has tremendously grown in the last few years due to increased customer demand. There are innovative products being offered by fast food restaurants so as to ensure that desirable market share is retained. Wendy's is one of the famous fast food restaurant located in different regions across the globe. A well-defined marketing mix will be formulated so as to understand brand’s position in the marketplace. There will be some measures proposed to enhance overall product performance.

• Evaluation of product

A fast food restaurant basically constitutes wide range of products. However, this study will reflect upon the main product item of Wendy's which is hamburgers. It can be stated that the identified product has upgraded brand image of Wendy's in the marketplace. Wendy's USP can be stated as making customized burgers incorporating fresh ingredients. The brand mainly targets those individuals who prefer exploring unique taste of hamburgers.

Marketing mix framework can be used to exhibit product evaluation.

Product - For instance, Wendy's hamburgers were denoted as their signature product which gained consumer preference (Quality Is Our Recipe, LLC, 2015). At the initial stage of business operations, there were only two categories of chicken sandwiches which were offered, such as grilled and fried. Wendy's gained popularity based on their spicy chicken sandwich. There are new menu items launched by the fast food restaurant chain to attract consumer attention. The hamburgers being currently offered by Wendy's comes in different sizes and can be customized as and when requested.

Price - Pricing strategy plays a vital role in product’s success (Grunert & Traill, 2012). In 1988, the company operated in an industry with few competitors. Arguably, availability of wide-scale product options has influenced many fast food restaurant chains to restructure their traditional pricing strategy. Wendy's basically had a standardized price for all its products; however, currently ‘Super Value Menu’ has been developed where product prices vary across 99¢ to $2.00 (Quality Is Our Recipe, LLC, 2015). Market penetration strategy has been adopted by this brand to increase sales margins.

Place - Place or distribution can be regarded as another important component of marketing mix (Fifield, 2012). Wendy's has its restaurant outlets located across the globe. Take-away and casual dining both facilities is available in Wendy's. The restaurant outlets are such designed that it conveys brand essence to target group. As per 2015 data, there are around 6,487 restaurant outlets of Wendy's located across the globe.

Promotion - Promotional activities of the chosen product are mainly centered towards social media advertising, product placement in films and TV shows, launch of innovative advertising campaign, etc. The company adopts the most effective advertising channels in order to reach out to the target group.

• Positive influence of product on customer perception

It is a common assumption that fast food restaurant chains are not able to offer a healthy food menu to target group. However, Wendy's has been able to change this common assumption, by introducing hamburgers comprising of fresh ingredients. Fast food chains are often not able to offer customized menu items. The major aspect of the offered product which has created a positive influence is use of high quality fresh ingredients (Sagala, Destriani, Putri & Kumar, 2014). It is evident that Wendy's has shifted from its grilled and fried chicken sandwiches to customized hamburgers in different sizes in order to positively influence consumer perception. Apart from chicken or beef hamburgers, the firm even offers fish sandwiches so as to ensure that varied customer preferences are taken into consideration. Product categories are not only confined to limited customer market segments, rather importance has been given to various taste or preferences (Solomon, 2014). Another aspect of the product that has created positive influence on customer perception is price range of the menu items. There is no such standardized pricing policy being maintained by the brand, rather competitive price range is offered so that Wendy's product is easily affordable by customers. Customer-centric product characteristics have positively influenced overall perception about the brand.

• Negative influence of product on customer perception

Fast food is usually perceived to be unhealthy which negatively influences customer perception. It is evident that Wendy's product constitutes high calories, not suitable for human body. On the other hand, compared to other fast food chains, such as Burger King, McDonald’s, etc., the product variety is limited. The product customization aspect would have been more profitable for the firm if the product category was widened as per customer preference (Schwartz & Ustjanauskas, 2012). It can be stated that limited product options negatively influence customer’s buying decision. In global scenario, wide-scale fast food options are available which tends to subdue USP of Wendy's. There is another product aspect that draws negative perception about the brand (Kim, Jeon, Jung, Lu & Jones, 2012). For instance, non-vegetarian hamburgers and sandwiches acquire 90% of the restaurant menu. There is less availability of vegetarian dishes which has definitely created a negative customer perception. While operating in the global marketplace, it is important for a fast food chain to consider taste or preferences of customers belonging to various demographic profiles (Griffith & Hoppner, 2013). Apart from patties, there are no fresh vegetables included within the breakfast menu of Wendy's. Hence, the food menu is disappointing for health conscious customers. On the other hand, product customization does not involve a great deal of change in spices being used for preparing menu items. In overall context, such factors negatively influence brand perception.

• Other aspects of physical evidence

The success or growth of fast food restaurant chains is not only based on delicious menu items but also on superior quality customer service. Product characteristics certainly influence purchase decision but there are other aspects related to physical evidence as well which holds equal importance. To be more precise, customer service, store ambience, etc., also plays a vital role in influencing purchase decision. Wendy's greatly emphasizes on the customer service support in order to ensure that customer queries are addressed in least time possible. Appropriate training is provided to Wendy's staff so as to maintain product quality, reduce waiting time, etc. The store ambience is such created that individuals can enjoy family time along with some new delicacies. In recent years, the restaurant outlets have been remodeled to be aligned with changing preferences of the target group (Gilligan & Hird, 2012). The ‘ultra-modern’ designs are being used at Wendy's outlets to attract mass market. Wendy's, a famous fast food brand, is usually linked with the pop culture. Similar ambience is maintained at Wendy's outlets by displaying creative designs on the store walls, playing pop music, etc. The main target market of Wendy's is the young generation; hence, the store environment is such structured that it matches target market’s preference (Lang & Heasman, 2015). Technology-based equipments available at Wendy's outlets make it easier for customers to purchase desirable products. On the other hand, availability of modern kiosks can be regarded as another element that motivates customers to opt for this fast food brand. Purchase decision can be influenced when superior quality customer service is provided by a company.

• Recommendations

Wendy's operate in the global marketplace with the support of franchisees. It becomes difficult to standardize operations across franchised stores. Hence, the recommended measure is to obtain customer feedback so as to determine major loopholes within current operations. A customer feedback form should be filled at every fast food outlet of Wendy's. On the basis of this form, customer perception towards product quality and service level will be closely scrutinized. The recommended approach will enable the company to make necessary changes in their product line and customer service. Wendy's can even take a step towards understanding product preference of customers. The suggestions given by customers can be efficiently incorporated while introducing new products. Apart from offering fresh ingredients, Wendy's should emphasize on adjusting spices and other product elements as per customer requirements. The overall product experience can be enhanced by extending product options in terms of including sweet dishes, more variety of vegetarian hamburgers, health drinks, etc. It is recommended that Wendy's should redesign its product line so as to eradicate the basic assumption that fast food is unhealthy. To a great extent, product experience can be enriched if the fast food company includes any region specific dishes or ingredients into the product category while operating in different geographical regions. The proposed approach shall enable the firm to strongly connect with the target group. Customer-centric approach is always recommended when it comes to operating in an intensely competitive marketplace.

• Conclusion

From the above study, it can be derived that marketing strategy forms the basis of business growth. In current scenario, Wendy's market share is completely based on high sales volume of hamburgers. The company is famous across the globe for its superior quality food products. Modern restaurant outlets further enhances brand image of this fast food company. Market-oriented pricing policy has helped the company to acquire competitive position within the fast food industry. It has been recommended that the fast food company needs to redefine its product line so that it matches taste or preferences of various customers.