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In-N-Out Marketing Plan

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by

Aaron Lisker

on 5 December 2014

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Transcript of In-N-Out Marketing Plan

In-N-Out Marketing Plan
In-N-Out Marketing Plan
Group 3
Internal Environment
Porter's Five Forces
Threat of new entrants
: Medium
Current Market Description
Products and Services
- Burgers, fries, shakes, items from "Not so Secret Menu", cookout trailer, apparel
Price
- $2.05 for hamburger, $2.35 for cheeseburger, $.75 for extra patty or cheese
Place
- Five distribution centers to deliver fresh ingredients, two in CA, TX, UT, AZ
- No freezers or microwaves
Promotion
- Primarily word of mouth, long-time stellar reputation

SWOT Analysis
Opportunities
Marketing Objectives
Increase sales by 5% from the previous four quarters, beginning on January 1st, 2015, ending on December 31st, 2015
Key Issues
Marketing Strategy
Implementation of Marketing Strategy
Location Expansion
Matthew Gruskin - Alexander Cohn - Aaron Lisker - Yu Li - Gene Guretskiy
Who here hasn't tried In-N-Out?


What have you heard about it?
Menu Expansion
Social Media
Sales Forecast
Financials
Expense Forecast
-Billboards will cost between $600,000 - $1,110,000
-Commercial will cost between $500,000 - $800,000
-Social media team will cost $215,000
-Predicted expense between $1,315,000 - $2,115,000
Breakeven Analysis
-We estimate an average price of $5 per meal at a $2.50 cost
-$2,115,000 / ($5.00 - $2.50) ≈ 846,000 meal purchases
Controls and Contingencies
Thank you!
Questions? Comments?
Locations are in Arizona (29), California (221), Nevada (16), Texas (25), and Utah (10), for a total of 301 stores
Cult-like status
Employee Benefits
Threat of substitute products or services
:

High
Bargaining power of buyers
: High
Bargaining power of suppliers
: Medium
Rivalry among existing firms
: High
Strengths
Weaknesses
Threats
-Customer loyalty
-Brand recognition
-Employee empowerment
-Limited menu items
-Limited branch locations
-Little interaction with fan base on social media

-Expand locations
-Expand menu items
-Increase social media presence
-High level of competition within fast food industry
-Local restaurants
-Customers seeking healthier food options
Target Market(s):
-Young singles, high school and college students, families, and tourists
Positioning
-Maintain the brand image
The Marketing Mix - Proposed
-
Product/Service
: Maintain simplicity of menu while making several key additions
-
Price
: Menu pricing and clothing products will remain unchanged menu addition costs range from 75 cents to 1 dollar
-
Place
: Expand into Eugene, Portland, and Seattle
-
Promotion
: Active interaction on social media along with promoting menu additions on billboards along highways near In-N-Out locations
-
Service Attributes and Considerations
: Creating a burger experience that stands apart from traditional fast food
Monthly business audits for new locations
Predicted average monthly sales of $63.15 million per month
Customer comment boxes & web links on receipts for menu additions
Manage Twitter & Facebook through social media monitoring tools
Campaigns/Programs
:
Actions/Tactics
:
Milestones
:
Campaigns/Programs
:
Campaigns/Programs
:
Actions/Tactics
:
Actions/Tactics
:
Milestones
:
Milestones
:
-Open four new locations, one in both Eugene and Portland, Oregon, and two in Seattle, Washington
-Promote the grand openings of the four new locations on social media and through a commercial press release, billboard ads, and word of mouth
-The grand openings for all four locations are set for January 1, 2015
-Add avocado, bacon, barbeque sauce, and ranch dressing to the menu
-Promotion of menu additions on social media and billboards that incorporate geographic segmentation
Lack of interaction on social media (i.e. Twitter)
Finding new management for expansion locations
Locating new ingredient suppliers for expansion locations
-The expansion of menu items will take effect January 1, 2015 and stay in place as long as they continue to be a hit with In-N-Out’s loyal customers
-Create an official In-N-Out Twitter account and improve the state of current Facebook page
-Create brand’s image on social media to be customer oriented, interactive in reacting to customers' questions and concerns both quickly and appropriately, and to establish have a comical and fun vibe that appeals to all ages
-Social media team of five on salary starting immediately and will cost approximately $215,000 annually
Who here had seen an In-N-Out
commercial before today?
External Environment
Increased focus on food quality
Revenue in the fast food industry was an estimated $160 billion last year
Main Competitors: McDonalds, Wendy's, Five Guys, Burger King, etc
Full transcript