Taco Bell Executive Summary

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Taco Bell targets consumers, who seek low priced and convenient meals, from most age demographics, while heavily focusing on the millennials. The company positions itself as an innovative fast food restaurant with a tagline “think Outside the Bun”. The 4Ps framework below explains its retailing mix. As in product, Taco Bell provides Mexican cuisine in a fast food manner. The company serves a wide variety of Mexican traditional plates (From tacos, burritos, nachos, quesadillas, etc.). Meanwhile, it leverages the nature of Mexican cuisine and adds customization to its menu, which broadens its product mix. Apart from the customization, the company also emphasizes customer relationship management (such as the live chat system); together, the two…show more content…
Furthermore, with interactive communication, the company will better communicate their brand image. Such subject matter (public relations, quality assurance, food innovation) may create emotional ties between the company and its customers, who then build their trusts and loyalties. As Taco Bell receives real-time customer responses, it can react to them and hence raise their service quality through means of product delivery or product itself. By establishing consumer intimacy, Taco Bell’s customers will move beyond simply liking the company over another; instead, they will become reluctant to patronize competitive retailers of Taco Bell (e.g. Chipotles). Snice Taco Bell relies on its existing target market and retail format, market penetration will be its optimal growth opportunity. The convenience, provided by the live chat system, will add value to Taco Bell’s product; hence, increase consumer intimacy and store/site visits. Ultimately, the live chat system will enhance Taco Bell’s market penetration.
With all due aspects above, Taco Bell falls in the high convenience end in the convenience/fidelity continuum, presented in Retail Revival; Taco Bell provides low-priced and fast serving meals. This investment introduces a higher level of convenience with interactive responses to consumer’s real time concerns. The increase of consumer service may seem like a shift towards the fidelity end in the continuum; however, the nature of Taco Bell (as a fast food company) defines this investment as an increase in convenience rather than in conventional consumer
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