Market Analysis: Strategic Communication

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This market analysis will focus on setting goals and formulating an action and communication plan for the proposed initiative. Organizations worldwide use many resources to develop and implement a new strategic plan. A good strategy should relate to the purpose and organization performance by incorporating internal and external factors.

The strategy to be adopted should factor in the surroundings where the business is situated to be in tandem with diverse stakeholder cultures, values, beliefs, and experiences relevant to the proposed fast-food chain business.

Business Strategy

A strategy is an important tool for achieving a competitive edge against competitors. To be competitive, it must satisfy all its stakeholders’ wants. The following were the findings of the prevailing market conditions:

  • Many people stayed away from public places to avoid contracting covid-19.
  • The economic toll on the restaurant industry was not evenly distributed in the sector. Compared to the takeaway segment, there was a decline in casual and fine dining, which posted impressive results.
  • Eateries generated much of their revenues from daytime eating.
  • There was a surge in digital transactions citing a strong online presence in the post-covid-19 error.
  • Many people shied off from restaurants that took more time preparing their orders.

Analysis of These Conclusions

With covid-19 changing the eating habits of many customers, the business will have to prioritize the takeaway segment to maximize our returns. Incorporating more menus in the takeaway segment will offer more variety for our clientele, thereby increasing the sales margin. The management has concluded the concentration of our staff during the day shift to maximize employee input. Developing a customized website that is simple to use will enhance service delivery.

The Organizations’ Goals

The fast-food industry has cutthroat competition. To be ahead of the rest, the business has a set of goals that govern its business approach, which are:

  • To be the number one fast-food chain of choice globally.
  • To be the most recognizable fast-food brand globally.
  • To be the most-friendly fast-food brand globally.
  • To be the cleanest fast-food brand globally.
  • To have the best website which will cater for all our customer requirements such as orders, payments, suggestions, and complaints.

Analysis of These Goals

The staff will be retrained, emphasizing the best food preparation methods, uniform across all our franchises. All our franchisees will adhere to strict company guidelines and quality controls. These are important aspects of the business that will enable our customers to identify the brand. Our logo will comprise colors easily recognizable by all customers of different age brackets. During the market analysis conducted, many respondents cited cleanliness as a priority in determining whether to indulge in food from an eatery.

The washrooms were particularly vital in determining the hygienic condition of a restaurant. This emphasizes why hygiene is an integral part of the business with a proposal to hire reputable companies to cater for the cleanliness of all our business premises. Our website will be designed as a one-stop-shop where clients will place orders and make payments securely online. The platform will be improved further for the business to showcase new items on the menus and available daily offers. The website will have a segment where the customers can talk about their experiences and suggestions. This information is key in improving services to clients (WK Chen, D Riantama, LS Chen – Sustainability, 2021 ).

Market Analysis of Internal and External Factors

The internal market analysis examines factors within a business, such as strengths and weaknesses, which gives the whole picture of the market’s current situation. The fast-food industry has an overall staffing shortage due to long working hours and relatively low pay (JL Forrest – 2017). Increasing labor costs also pose a challenge due to low-profit margins. The external market analysis focuses on the business environment that affects the business, such as the demand for products with great taste and high quality being sold at low prices. Internet use is also pushing fast-food chains to develop more innovative products online.

Measurable Project Goals and Outcomes and their Relationship to the Strategic Focus of the Organization

This focuses on goals centered on the organization’s strategy, such as customer service, sales, and staffing. This is:

  • Providing a customer experience distinguishes the business from its competitors, such as having patrons who assist customers with their needs.
  • Creating a sense of loyalty to customers by offering reward programs that reward regular visits.
  • Offering diverse menus to cater to different clientele tastes.
  • Focusing on building a brand that distinguishes the organization from its competitors.

Description of the Project Structure

All our senior and junior level managers will undergo mandatory training to achieve effectiveness at every management level. The operational managers will supervise the daily activities of the organization. The corporate managers will be accountable for overseeing conformity in all the franchises. The branch managers will ensure the strategic policies of the business are implemented in the branches. Our organization has partnered with large-scale farmers across the globe who have a reputation for quality. This guarantees the quality of our products. All investors who want to join the brand will adhere to strict guidelines according to our organization’s policy.

Analysis of the Effect of Diverse Stake Holders Cultures

Cultural consideration is an important aspect in certain jurisdictions. In the Muslim world, pork consumption and its products are prohibited by their religion. This means that pork products will not sell in such areas. Moreover, for Muslims to consume products from our fast-food eateries, they require Halal certification on our products. This significantly affects how business is done in our branches in these jurisdictions.

The Communication Plan Table

Responsibility Communication Audience Goals Schedule Format
CEO The memo, Emails, Phone calls Operation Managers Developing blueprint Weekly Meetings
Operation Managers The memo, Emails, Phone calls Corporate Managers Supervising daily activities After two days Meetings
Corporate Managers The memo, Emails, Phone calls Branch Managers Overseeing conformity in branches Daily Meetings
Branch Managers Phone calls, Emails Branch Supervisors Implementation of strategic initiatives Daily Face to face
Branch Supervisors Phone calls, Face to face Junior Employees Supervision of junior employees Hourly Face to face

The CEO is tasked with developing the organizations’ blueprint and will communicate to the operation managers of all the branches through memos and other appropriate forms of communication. The operation managers will communicate with their juniors through email and phone. The corporate managers will communicate with their juniors through email, phone, and physically visiting the various branches. The branch managers will communicate with their juniors physically and through phone calls because they are present in branches daily. The supervisors will communicate with their juniors verbally because they are the first line of interaction with the junior employees.

The CEO communicates via memos and phone because of not being physically present in the branches regularly. Memos are appropriate when giving directions that other managers follow. The operation managers may not be present at the individual branches making email and phone calls ideal. The corporate managers may use emails or phone calls. In some instances, they may communicate verbally with the juniors when visiting the branches. The branch managers communicate verbally with their juniors because they are physically present in the branches. The branch supervisors communicate verbally with their juniors during the entire shift.

This communication plan systematically ensures a smooth flow of information to the relevant manager involved. Information flow can either be vertical or horizontal. All the responsibilities in the various levels of management are delegated to the relevant personnel. Transformational leadership skills are ideal in this type of organization. This is because the organization’s vision for success guides employees. This ensures a high value of interpersonal skills, which enhances effective communication.

References

Chen, W. K., Riantama, D., & Chen, L. S. (2021). Using a text mining approach to hear customers’ voices from social media toward the fast-food restaurant industry. Sustainability, 13(1), 268.

Forrest, J. L. (2017). Reducing fast food employee turnover with appealing working environments (Doctoral dissertation, Walden University).

Hallahan, K., Holtzhausen, D., Van Ruler, B., Verčič, D., & Sriramesh, K. (2007). Defining strategic communication. International Journal of Strategic Communication, 1(1), 3-35.

Ibrahim, M. S. (2011). Integrated marketing communication and promotion. Researchers World, 2(4), 187.

Raj, S. K., & Singh, N. K. (2021). Strategizing of fast-food industries using a balanced scorecard approach: A case study of Mcdonald’s corporation. Raj, SK & Singh, NK (2020). Strategizing of fast-food industries using a balanced scorecard approach: A case study of McDonald’s Corporation. International Journal of Humanities, Arts and Social Sciences, 6(6), 258-273.

Wingrove, C. A., & Urban, B. (2017). Franchised fast food brands: An empirical study of factors influencing growth. Acta Commercial, 17(1), 1-8.

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