Enhancing the Marketing Plan for The Hot Potatoe
1. Discuss the company's competitors, and the strengths and weaknesses of each.
2. Discuss how you plan to differentiate your company from the closest competitor.
3. Discuss the company's intention to be a leader or follower within the industry.
4. Assess the macro-environmental issues (legal, technological, social, and economic) trends with which your business must contend.
5. Identify the most significant trend to impact your business and discuss how the company intends to minimize or capitalize on this trend.
The solution is in the attached document.
Though Hot Potatoe will operate within the fast food industry, there are very few direct
competitors, offering similar or like products. In general, all fast food restaurants can be considered
competitors, with the threat of substitution. McDonald's, Dairy Queen, Burger King, White Castle, Taco
Bell, Wendy's and Subway are competitors. However, Panera Bread, Chipotle and other casual dining
food chains are also competitors, as Hot Potatoe is considered a casual dining type of fast food, though
it will also have a drive thru window.
Dairy Queen offers an advantage to consumers, with several enticing dessert menu items. On
hot days, ice cream desserts can be very satisfying. Ice cream is also considered a comfort food, which
consumers are increasingly looking for in fast food options. Other menu items, such as chili dogs, hot
dogs and burgers offer little, in the way of customization. There are no healthier items on the menu.
McDonald's, Burger King, Wendy's and other fast foods that began as burger establishments at least
offer some healthier options, such as a variety of salads, apples and fruit juices for children.
Advantages for these fast food establishments are the streamlined approach to food
preparation and service and the automated supply chain systems and intricate supply chains that
operate as efficiently overseas, as in the United States . "McDonald's is another example of a JIT system
wherein McDonald's doesn't begin to cook its orders until a customer has placed a specific order"
(Atkinson, 2005). In the food industry, JIT systems reduce the costs associated with holding supplies
and the losses related to food spoilage. Weaknesses of fast food burger restaurants include the lack
of customization for individual food items and the overall lack of well rounded, nutritious meals.
Wendy's is the one exception, among the fast food chains, that offers direct competition for
Hot Potatoe. It also offers hot baked potatoes with limited variety of topping choices. It also has the
item value priced, at around $1. While this may be viewed as a benefit, it may also send a message to
consumers, that the baked potato is an afterthought and a food product of little value to the consumer.
Highlighting the potato, by increasing its cost and adoring it with healthy vegetables and lean meats,
gives it a greater sense of importance among consumers. Panera Bread and Subway are direct
competitors of Hot Potatoe. Though ...
The expert examines enhancing the marketing plan for The Hot Potatoes.