MINISTRY OF FINANCE UNIVERSITY OF FINANCE – MARKETING FACULTY OF MARKETING SERVICE MARKETING Code: 2021702052705 FINAL EXAM ANALYSIS FOR MARKETING STRATEGY OF PIZZA 4P’S RESTAURANT SERVICE Class: CLC_19DMA05 Team’s members names and IDs: Phạm Thảo Nguyên - 1921005570 Đoàn Vân Nhi - 1921005580 Phạm Ngô Đăng Khoa -1921005469 Trương Đặng Ngọc Linh - 1921005506 Nguyễn Thị Thu Trang – 1921005729 Huỳnh Anh Tuấn - 1921005749 Ho Chi Minh, 2021 TEACHER COMMENT. i TABLE OF CONTENTS TEACHER COMMENT. i TABLE OF CONTENTS. ii LIST OF FIGURES.
v LIST OF TABLE .1 Objective of ours study .5 Vision and mission. Market & Competitors Analysis. Target customers analysis & Positioning Strategy .3 Evaluation of alternative solutions .4 Post – encounter purchase. Analyzing the Marketing Mix (7Ps) Strategies .1 Services Product strategy.1 Characteristics of restaurant service at Pizza 4P's.4 Branding Strategies for Service .1 Cost-based pricing .2 Value-based pricing (Customer-based pricing) .3 Competitor-based pricing .1 Distribution channel system .1 Who - Target audience .2 What - The message to convey .3 How - Through a variety of communications channels.5 Service processes management .2 Customers as co-producer .6 Physical evidences management .1 The Servicescapes Model .2 Behavior Consequences of Affect .3 Internal responses of customers .5 Put it together .1 Service Personnel as a Source of Customer Loyalty and Competitive Advantage .2 The Frontline in Low-Contact Services .4 From the Cycle of Mediocrity to the Cycle of Success .5 Human Resources Manament – How to Get It Right .6 Service Leadership and Culture .1 Services Product strategy.5 Service processes management .6 Physical evidences management.
75 List of References & Originality. 81 iv LIST OF FIGURES Figure 1.1: Logo of Pizza 4P’s .2: Factors which Vietnamese people care about when they choose eating outside.3: Positioning map of Pizza 4P's .4: A picture of Pizza 4P's product.5: Logo of 4P's services .6: Menu of Pizza 4P's .7: Menu of Pizza 4P's .8: Operation Process and Utilities of AhaMove .9: Operation Process and Utilities of AhaMove .10: Operation Process and Utilities of AhaMove .11: Happy Hour Campaign picture .13: Act 1: Prologue and Introductory Scenes .14: Act 2: Delivery of the core product .15: Act 3: The drama concludes .16: Act 3: The drama concludes .17: Pizza 4P's Layout and Interior .18: Pizza 4P's Layout and Interior .19: Signs, Symbols, and Artifacts .20: Signs, Symbols, and Artifacts .21: Signs, Symbols, and Artifacts .22: Signs, Symbols, and Artifacts .25: Cycle of Mediocrity .26: Cycle of Mediocrity Features .27: Cycle of Success .28: Pizza 4P's Recruitment Claim.29: The Service Talent Cycle.30: Yosuke Masuko and Sanae Takasugi - Founder of Pizza 4P's .31: Evidence from the comments or reviews on review websites .32: Evidence from the comments or reviews on review websites .33: Evidence from the comments or reviews on review websites .34: Evidence from the comments or reviews on review websites .35: Evidence from the comments or reviews on review websites .36: Employee Retention in The Past 2 Years. 74 LIST OF TABLE Table 2.1: Competitors of Pizza 4P's .2: Pricing strategy of Pizza 4P's and Competitors .1 Objective of ours study As a branch of the fast food business, the revenue of pizza and burger chains has continuously increased in recent years. In terms of scale, this restaurant chain is still behind the fried chicken chains, but the growth rate is much higher.
In 2019, the Pizza Hut chain achieved a revenue of VND 749 billion, while The Pizza Company achieved more than VND 617 billion, up 21.8% and 24% compared to 2018. Considered "later born, late born" in this group, but Pizza 4P’s also continued to close the gap when recording revenue of nearly 570 billion dong, up 34%. Pizza easily wins the hearts of customers thanks to the main ingredient made from wheat flour, similar to bread, which is familiar to the taste of Vietnamese people. In a report three years ago, Euromonitor once valued the pizza market in Vietnam with a scale of nearly $120 million.
Therefore, our team chose to analyze the Marketing Mix activities of Pizza 4P’s's restaurant service of Pizza 4P’s Joint Stock Company. For the purpose of mentioning and analyzing the problems in the implementation of Pizza 4P's Marketing strategy to be able to offer, analyze and clarify how the restaurant has built its brand, built its position and approached than with customers. In this report, we apply the knowledge we have learned to analyze the 7P marketing mix strategy of Pizza 4P's restaurant and offer suggestions and solutions to improve marketing activities.2 Report flow Section 1: Introduction - We will introduce the Pizza 4P’s company, study objectives and report flow. Section 2: Market & Competitors Analysis - We will Analyze the current market situation for the service and identify the competitors of Pizza 4P’s.
Section 3: Target customers analysis & Positioning Strategy - We will identify the target customers of the company and describe some of target customers' relevant behaviors and identify positioning strategy of Pizza 4P’s. Section 4: Analyzing the Marketing Mix (7Ps) Strategies - we will analyze the Marketing Mix (7Ps) Strategies of Pizza 4P’s 1 Section 5: Evaluation & recommendation - We will evaluate each 7P’s of the company and recommend for the improvement. Then, we will conduct the conclusion of Pizza 4P's marketing-mix 7P strategy.1: Logo of Pizza 4P’s 4P's operates in four areas: restaurants, cheese production, cheese wholesale, and dairy retail. With the main business is Pizza 4P's.
The founder of Pizza 4P's chain is Masuko Yosuke. After graduating from university, Masuko worked for a trading company, then managed for the famous investment fund Cyber Agent. After quitting his job, in 2011 he opened the first Pizza 4P's store in Ho Chi Minh with an initial capital of 100,000 USD. In the middle of May 2019, Pizza 4P's restaurant chain completed receiving investment capital from Mekong Capital's fund, marking a new stage after 8 years of starting a business in Vietnam.
Previously, Pizza 4P's had received capital from Seedcom, a start-up investment fund chaired by Mr. Dinh Anh Huan, former Co-Founder of Mobile World (MWG). In addition, Pizza 4P's also received capital from Chikaranomoto (who owns the Ippudo ramen restaurant chain in Japan) and Locotto. At the time of 2017, when there were only 7 stores, Pizza 4P's was valued at about 20 million USD.
As of April 2020, there are a total of 26 restaurants. The main restaurant is Pizza 4P's, with 20 stores (including vending carts) in Vietnam. Besides doing business at Pizza 4P's, 4P's also produces its own cheese to sell at stores and online stores as well as to supply 5-star hotels, restaurants. Initially, the factory mainly produces mozzarella cheese to supply the restaurant, but until now the scale has grown to 8 types of cheese, and also produces other dairy products such as yogurt, cakes puddings, etc.
2 Pizza 4P's Online Store was established after realizing the increasing demand for clean food from customers, providing them with quality products, improving their health.4 Core values The name 4P's means "For Peace" - Peace pervades the world. The idea of "Peace" means living happily and actively living in peace. The brand and logo of 4P's embodies the desire to always bring rich experiences to help each guest entering their world reap something positive and exciting. Its culinary experiences that make the heart dance and spread positive energy.
Every guest when leaving has a positive feeling, even if it's just a little. Pizza 4P's understands that, delicious is only the minimum requirement of a dish, customers will smile more and be more satisfied when the dish is both safe and healthy. That's why 4P's put the idea of "Farm to table" into practice. “Farm to table” has become the core value that helps dishes at Pizza 4P’s receive 10 points of trust from diners.5 Vision and mission Pizza 4P’s vision: “Make the World Smile for Peace” – Bring a peaceful smile to the world”.
Pizza 4P's ambition is not simply "A great Pizza restaurant". More than quality products, Pizza 4P's also wants to help customers feel joy and happiness through positive energy from its members. By spreading smiles, Pizza 4P's hopes to make an impact to change the world." Pizza 4P’s mission: “Delivering Wow, Sharing Happiness” – Bringing “Wow”, Sharing Happiness. It describes a delightful surprise, an experience that can make your heart dance, an abundance of positive energy and an uplifting spirit.
That excitement and positive energy is what it is a big step to the feeling of "Happiness". By "sharing" that with many people, Pizza 4P's believes that happiness will spread and fill the world… The result of "Delivering Wow, Sharing Happiness" is a smile. To be able to bring happiness to customers, 4P's believes that bringing happiness to employees working at the Company is also very important. 4P's has spent a lot of effort to bring the restaurant with a pleasant dining space, customers always feel comfortable, come and want to stay forever.
The guideline for all activities of Pizza 4p's is "Omotenashi", which means the spirit of welcoming guests with all your heart, showing the hospitality of the Japanese people. Omotenashi embodies a thoughtful way of thinking about the customer rather than simply completing the task. Market & Competitors Analysis 2.1 Market situation Vietnam has more than 100 million people, most of which are young 60% under 35 years old and GDP has grown steadily at over 6%, per capita income has grown steadily over the past 10 years and reached 2,200 USD last year. Vietnam is an attractive market for fast food business groups.
According to statistics of the Ministry of Industry and Trade, in the past 8 years, this agency has licensed nearly 150 foreign brands and brands to Vietnam. In which, the restaurant sector accounts for the largest proportion, with more than 43%, including more than 40 brands of fast-food restaurants, cakes, coffee, beverages, restaurants, hot pot. According to the data According to market research, the fast food industry in Vietnam is still growing at double digits and this makes this industry even more attractive to domestic and foreign investors who want to participate in the market. The competition is getting more and fiercer, from location to human resources and branding, to dominate market share.
This strong competition is probably one of the factors that led to some restaurants closing in recent times. However, this is also normal in business and each brand will balance itself in its business strategy to operate effectively. In a recent survey, up to 80% of respondents have ever used a food delivery service, which proves that the market's demand is very large for this type of service. Technology is also changing the way customers make purchases, such as online or mobile purchases, cashless payments, and e- wallets.
Currently, in addition to foreign fast-food brands that have been operating for many years such as Pizza Hut, KFC, Lotteria, etc., Vietnam's fast food market is quite active. The emergence of domestic fast food brands, as well as other foreign investors entering the Vietnamese market, makes Vietnam's fast food market increasingly diverse and diverse. Vietnam is a developing country, on the way to integrate with the world, is importing Western cultural features, and is the latest cultural trend in the field of cuisine. Pizza 4P’s officially entered the Vietnamese market in 2011, in the context that Vietnam's fast food industry is still new.
Today, with the economic development, the fast-food industry tends to grow faster in the Vietnamese market, especially after the covid epidemic. 4 Famous for being a busy pizza restaurant chain and not taking home delivery to preserve the unique experience of dining out, Pizza 4P's eventually had to change to adapt to the reality of the food delivery chain 2.2 Competitors Regarding competitors in the field of pizza restaurants, there are many competitors in which there are 3 big competitors that have the most similarities with 4P's: Table 2.