1.Describe in detail how the business implemented the four P’s to add value and/or promote the product or service.
Product: Wendy’s Burger Products.
Price: $3 to $5. Comparable to most fast food sandwich prices.
Place: Any Wendy’s food location.
Promotion: In an advertisement, Wendy’s uses it’s competitor, McDonald’s as a punching bag in a sense. Wendy’s calls to light the fact that McDonald’s flash freezes it’s hamburger, and compares it to the titanic. They then go on to promote that all Wendy’s beef is fresh, and never frozen. Using a direct comparison with a competitor is extremely powerful as a promotional strategy because it shows superiority on Wendy’s part.
2.Describe the target market (ie. what segments are being targeted)? How do you know this is the target market? Did the company make good decisions to reach the target market?
The target market for this ad are those who typically buy fast food, but are generally more health aware. Although fast food and health don’t usually go hand and hand, some people treasure a restaurant that does not flash freeze meat, or mass produce the food in a product. Because Wendy’s made a direct claim that they do not flash freeze their meat, they are appealing to this target market, and have also taken customers from McDonald’s, a company that does flash freeze it’s meat.
3. Does it work? Why or why not? Any general observations?
You get what you pay for when it comes to food. People eating fast food typically do not care about the origin of the food, where and how it was stored, and how it was prepared. Customers usually only care about the taste and the price. Although Wendy’s may have achieved new customers because of using fresh meat, large-scale, I do not think it will have a large impact because customers simply do not value fresh vs. frozen when they can have the food at a cheaper cost.