MKTCB574 Competency 2 - Reflection

docx

School

University of Phoenix *

*We aren’t endorsed by this school

Course

574

Subject

Management

Date

Jan 9, 2024

Type

docx

Pages

Uploaded by Sherel2

1 MKTCB/574 Competency 2 - Reflection Market Data  Pizza Hut  Dominos  Little Caesars  Papa John's  Jerry’s Subs & Pizza Companies need data for strategic marketing alongside other significant operational decisions. Therefore, companies in the pizza industry can collect a wide array of data for the same purpose. Some of the market data these companies include data on the trending business practices in the industry, regarding their rivals, and customer-related data (Nasir et al., 2017). For instance, regarding trends, pizza companies can collect data on the prevailing market trends to redefine and get ahead of any upcoming trends. These data are essential in strategizing marketing goals and objectives. For instance, customer data indicates their demographics, behavioral, and psychological features, making them a potential target for certain goods and services. Most pizza companies target children aged 4 to 19 years because this population prefers pizza over any fast food and often influences family dining decisions (Samoggia, Riedel & Ruggeri, 2020). Thus, they target their marketing goals and choices to best suit this target market. Brand Equity: Domino’s Pizza  Brand awareness Domino’s Pizza has a significant market share within the fast-food sector. In the United States, the company has a 36% market share, compared to 27% occupied by its major

2 rivals (Kirkpatrick, Cuvelier & Flanagan, 2018). This indicates that the company has a significant customer segment, demonstrating a high level of brand awareness.  Brand loyalty Domino’s Pizza has a sustainable consumer segment, 37% in the pizza delivery industry (Kirkpatrick, Cuvelier & Flanagan, 2018). It launched a new loyalty program, Piece of the Pie Rewards, that have since increased the company’s revenue stream. Domino’s Ms. Fouracre noted that “Currently, roughly half of our digital sales come through our mobile channels.”  Perceived quality Every pizza company has a unique approach to developing a high-quality pizza that meets its customer's preferences. Differentiation is a crucial approach that companies like Domino's use to compete in keeping their customers (Kirkpatrick, Cuvelier & Flanagan, 2018). In other words, they use best practices, such as technology, to meet the customer's perceived quality of the pizza.  Brand associations Brand associations are the qualities that consumers can relate to when they hear of a particular brand or product. Domino’s Pizza is associated with authentic in taste, fast in service and consistent quality checks and assured freshness (Kirkpatrick, Cuvelier & Flanagan, 2018). This association has helped the company maintain success.  Brand assets There are different varieties of assets associated with companies like Domino’s. While the company is commonly known for its pizza, it has several subsidiaries and

3 items on its menu. The company has a workforce of more than 200,000 working in its stores across the globe (Kirkpatrick, Cuvelier & Flanagan, 2018). Ethical and Legal Considerations in Social Media Marketing Selected article Hern, A. (2019). TikTok video-sharing app fined for collection of children’s data. The Guardian , 28 . Tiktok has become a popular social media platform for B2C marketers targeting potential buyers aged 24 years and below. However, according to this article, the site faced allegations for collecting user data.  What impact might the issue have on children who use social media? The main issues, in this case, regards users aged 13 years and below. This implies that children are most likely to develop negative attitudes towards social media platforms, insecurity, and mental health complications.  How does social media meet legal requirements for data sharing? As indicated in this article, social media meet legal requirements for data sharing compared to local and international law regulating such practices, such as the U.S. Federal Trade Commission.  How does social media police ethical and legal issues? Organizations must live up to their values in social media marketing and consider ethics as part of B2C digital marketing strategy. They must question the broader implications of social media marketing strategies.

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

4 References Kirkpatrick, J., Cuvelier, K., & Flanagan, J. (2018). Chartered Financial Analyst Challenge: Analysis & Research of Domino's Pizza. Nasir, M. U., Rehmat, U., Khan, N. U., & Bashir, M. M. Social Media Analysis of Textual Patterns in Pizza Industry. Samoggia, A., Riedel, B., & Ruggeri, A. (2020). Social media exploration for understanding food product attributes perception: the case of coffee and health with Twitter data. British Food Journal . Samuely, A. (2021). Domino’s grabs bigger slice of mobile sales via loyalty program . Retaildive.com. Retrieved 17 December 2021, from https://www.retaildive.com/ex/mobilecommercedaily/dominos-grabs-bigger-slice-of- mobile-sales-via-loyalty-program.

MKTCB574 Competency 2 - Reflection

Related Documents