This marketing research report is about the strategy of Pizza Hut for entering a new market. This research includes the preferences of the customers for going to any fast-food restaurant and particularly to our. We collected primary data from people for our research. While we were making our questionnaire we focused mainly on questions that showed the preference of the fast-food customers. Especially when we talk about food quality, price, services, interior, etc… We got the questionnaires filled by 28 people from our population. They found the questionnaire nice and easy and we really could analyze their answers. The population for our research consists of students of The IUC College and people from all over the country. We made the connection through some websites. This analysis helped us to come out with new ideas about the future sales and profitability and what our brand needs to maintain its image.
Pizza hut is an American restaurant chain and international franchise that offers different styles of pizza including pasta, salad, breadsticks, garlic bread and buffalo wings. Pizza Hut is a subsidiary of the world’s largest restaurant company Yum! Brands.Inc. As of 2012, there were more than 6,000 Pizza Hut restaurants in the United States, and more than 5,139 store locations in 94 other countries and territories around the world. Pizza Hut was founded in 1958 by brothers Dan and Frank Carney in their hometown of Wichita, Kansas. They borrowed $600 from their mother to start a business with partner John Bender. They chose the name “Pizza Hut” since the sign they purchased only had enough space for nine characters and spaces. In the early 1960s Pizza Hut grew on the strength of aggressive marketing of the pizza restaurant idea.
The first Pizza Hut franchise was opened in Canada. This was followed by the establishment of the International Pizza Hut Franchise Holders Association. In 1977 Pizza Hut merged with PepsiCo, becoming a division of the global soft drink and food conglomerate. Sales that year reached $436 million, and a new $10 million dollar headquarters office opened in Wichita. The brand has been rewarded as the best restaurant chain internationally. In 1986, Pizza Huts started its Home Delivery service. In 2007, Pizza Hut offered online ordering at all of their 65,000 locations. In 2008, Pizza Hut introduced Total Mobile Access- the ability for customers to order by text messaging or using their web enabled cell phones.
Our major marketing strategy has always been to satisfy the customer by offering the best, including cleanliness, hospitality, accuracy, maintenance, product quality and speed. Our brand has always been friendly and familiar. We have always done our positioning by keeping in view two basic factors: Quality and frequency. Our brand uses low price meal and expensive for high end. We collected primary data from people for our research. While we were making our questionnaire we focused mainly on questions that showed the preference of the fast-food customers. Especially when we talk about food quality, price, services, interior, etc… We got the questionnaires filled by 28 people from our population. They found the questionnaire nice and easy and we really could analyze their answers. The population for our research were students of The IUC College and people from all over the country. We made the connection through some websites.
We found out that most of the people are really aware of our brand and they have even visited our restaurants. 10 out of 28 people have never heard of our brand and products. We asked all the people who have visited our restaurant, are they satisfied with the service and the ingredients in the food. All of them were undoubtedly agree that the service in the restaurant is extremely good and all of the ingredients are high quality. We became aware of the information that the majority of the fast-food restaurant customers are the people between the ages of 18 and 30. Nowadays the majority of young people can’t cook and they are really impatient for food. Some of them don’t have resources.desire and time for cooking. So the fast food restaurants are really the best choice for people between these ages.
Furthermore, we found out that our potential customers are incredibly price sensitive. 16 out of 28 people preferred to give 5 to 10 leva for our services than 3 to 5 leva. This helped us to understand that our customers are willing to pay more if the service responds to their money but not too much. After our detailed analysis we concluded that quality is the most important factor which can affect our potential customers. People really prefer to eat in a fast-food restaurant which has normal prices, good service and nice interior. People have gotten tired of going to the same places like Mcdonalds and Subway. They want something new, fresh and with fast home delivery.
Product: Salads, Pizza, Pasta, Beverage, Deserts
Price: 5 to 10 leva
Promotion: TV ads for now
Place: We should place our restaurants in the Mall or somewhere in the centre of Sofia and Varna
From our research we conclude that we definitely should focus on consumer satisfaction. This is possible if we have control over the quality of the food, service and control over prices. We have to make sure that we can create a friendly physical environment. Our restaurant must become like a second home for our consumers. And we think that our potential consumers in Bulgaria would be very pleased with our services.
We should do some strong TV advertising.
We should open branches in more cities, such as Varna, Burgas, Veliko Tarnovo We should have at least one restaurant in the mall. The competition will be extremely big but with our brand image and variety of food and beverages we think we could easily achieve successful market share.