Company Profile.
Company Name Buffalo Wild Wings
Industry
Restaurant
Major products and/or services (names, types Wings, soft drinks, sauces and fries
Products and/or services your marketing plan will focus on:
Wings, soft drinks, sauces and fries
Target customers Sports fans, video games, trivia fans
Distribution channel(s):
Local Buffalo Wild Wings distributors
Headquarters (city, state, country):
Minneapolis, MN USA
Year founded:
1982
Number of employees:
3,400
Annual revenue (estimated)
2 billion
Key competitors
Applebee’s, Olive Garden, Chili’s.
Link to Web site
https://www.buffalowildwings.com/
Link to Yahoo! Finance information page (for public companies)
https://finance.yahoo.com/company/buffalo-wild-wings?h=eyJlIjoiYnVmZmFsby13aWxkLXdpbmdzIiwibiI6IkJ1ZmZhbG8gV2lsZCBXaW5ncyJ9&.tsrc=fin-srch
Market segmentation and Targeting
For decades, people have stated to love fast foods. Buffalo wild wings thrives at quenching the thirst for a cold soda on a sunny weekend out and also serves tantalizing wings and fries, with fast and excellent service customers get satisfied and happy.
Our core targets include youngsters, singles, and those currently enrolled in college and high school. The family unit is also a target for the business; it shall appeal to families with young children. The business will also target both genders with a little skew towards male teen customers because of they are likely to drop by for bites to fuel them for the rest of the day.
The business targets young Minneapolis citizens as the main market. The premise is situated in a prime location where they meet and hang out after school. Due to vigorous extra curricula activities among Minneapolis young people, they often have their meals in malls where buffalo wild wings is located and they tend to flock the premise after school.
The secondary market segment is the working Minneapolis population. with a number of shopping malls in Minneapolis the number of people who may rely on fast foods is quite high and hence making that population a segment to be targeted by Buffalo Wild Wings. Minneapolis is also a known tourist destination and hence tourists make the third segment of the potential customers who may flock Buffalo Wild wings.
Buffalo Wild wings plans to majorly focus on serving the youngsters and teenagers in Minneapolis. the group has been selected because they are the most frequent customers and hence Buffalo Wild Wings has a goal to be the “Extraordinary fast foods place.” and we trust that right target segment that will steer the brand is the youngsters and teenagers. The teens stick to the pocket friendly dishes and in return, they save the company as the cost on budget is reduced and the profit margins go up.
Situation and Company Analysis.
Potatoes are readily available in the United States hence the basic material for the business will be easily obtained. The kids are also given sufficient amount of money by their parents to purchase their food and hence they will certainly opt for fast foods. Lifestyle changes are also influencing consumer purchases, their food and entertainment choices. the changes taking place in the economy include, the professional class has immensely grown meaning individuals have some disposable income that they are willing to use.
Technological advancements in the industry have also been seen and as a result, advertising value addition and even improved customer experience and satisfaction as well improved delivery services are some of the benefits that come with technological advancement. Technology has undeniably made everything easier.
For the business to operate in Minneapolis , it certainly has to get the appropriate documents from the licensing authorities and clearance for the health department because it deals with foods for human consumption. Political environment is stable and hence the company will thrive due to the political stability.
SWOT ANALYSIS.
HELPFUL Ideas HARMFUL Concerns
Strengths
Highly experienced Owner-Operator
limited competition in Minneapolis
ability to sale products online and do deliveries
highly visible website
Weaknesses
Products can be quickly offered by competitors
High Operation Cost
Limited Flexibility Pricing.
Opportunities
Continued expansion for online sales.
Ability to grow and develop online stores.
Acquisition of additional rounds of capital.
Advancement in technology and the new innovations that ensure the business operates smoothly
Possible advancement and sale of the business Threats
Changes in regulations that can impact the business
The business products are sold by competitors
Costs continually increase as the company increases.
Mission Objectives and goals.
Mission
Our main goal is to be one of the most successful fast food outlets in Minneapolis.
Objectives.
To establish a presence as a successful local fast food outlets and gain a market share in USA’s fast food industry.
To make Buffalo Wild Wings a destination spot for mall-goers.
To expand into a number of outlets by the third year.
Goals
Create a unique, innovative, entertaining menu that will differentiate us from the rest of the competition.
Control costs at all times,.Sell the products that are of the highest quality.
Provide 100% satisfaction to our customers and maintaining the level of excellent services among other competitors.
Encourage the two most important values in fast food business: brand and image, as these two ingredients are a couple of main drivers in marketing communications.
Get access to high-traffic shopping malls near the target market.
Promote good values of company culture and business philosophy.
