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Wendy's Final FAST CASUAL FINAL RFP JHENI GIBSON EXECUTIVE SUMMARY What do we want to do? How will we do it? What’s the timeline? • Wendy’s would like to reposition its • We will address Wendy’s • This campaign plan will run for brand as “Fast Casual” offering higher quality foods and lite service millennial target audience by the full 2018 Fiscal Year. coupled with the convenience of exploring their habits, budget, • All testing will be completed quick output. lifestyle and priorities. within the first 2 months of • Competitors such as • We’ll test and launch campaigns the FY. Chipotle, Shake Shack, and that highlight Wendy’s fresher • Progress will be measured Smashburger have adopted ingredients, sourcing, nutrition, monthly to incrementally the fast casual business analyze success and optimize model and continue to and our new Fast Casual dining attract millennials taking experience. Channels used will towards goals through the market share from “fast be Advertising, PR, Sponsorships year. food” restaurants like and Promotions. • Final success metrics McDonalds, Wendy’s and • Creative and copy will will be gathered at the Burger King. feature fresh and end of the fiscal to • The Fast Casual dining observe if goals and experience provides a progressive images of modern, comfortable and new menu options and objectives have been inviting aesthetic where millennials enjoying a met. customers can enjoy a more quick and nutritious meal. upscale dining experience. • Food is locally sourced, honest and made to order. • . "Everybody in the world is talking about fast casual… It just has a broad appeal.” BONNIE RIGGS – INDUSTRY ANALYST WITH NPD GROUP (The Washington Post) BUSINESS SITUATION • With the success of fast casual restaurants, its evident that customers prefer an in- store, upmarket experience. • Fast Casual restaurants are growing faster than fast-food and full service restaurants with 10-11% sales growth YoY (Washington Post) • Fast – food is only seeing 3-4% growth in sales • Full service restaurants are seeing 1.5-2 percent sales growth • Customers also prefer high quality foods and brand transparency in knowing where food is sourced. • As Wendy’s works operationally to rebrand, we will explore the best marketing tactics and strategies to raise awareness and customer loyalty as we reposition. BUSINESS SITUATION - SWOT Strong Brand Traditionally Unhealthy New Customers Competition Menu Repositioning gives the brand Wendy’s faces an abundance of Wendy’s is an Historically, Wendy’s menu opportunity to reach new competition not only from similar established and strong, has consisted of burgers, fries customers – especially business models like McDonalds and Burger King but from well known brand and other foods that could be Millennials. established fast casual restaurants world wide. considered unhealthy. This that have established customer makes the brands transition to Threats loyalty like Chipotle and Shake healthier options less Customer Loyalty Strengths Shack. Quality Ingredients believable for the consumer. Transparency allows new and existing customers to Wendy’s has taken Weaknesses experience the brand in a Health Conscious Trends Target Audience Customers are becoming more pride in quality Opportunities fresh way as they’re abele not Wendy’s has also neglected to only taste, but see the quality health conscious and desire ingredients and market its products to of food, and benefits of meals tailored to fit that lifestyle. customer satisfaction This could potentially hurt the millennials creating a lack of supporting Wendy’s because demand for fast food products since its inception in consumer knowledge and of its social responsible and and suppliers like Wendy’s. 1969 loyalty among our target sustainable agenda. audience. TARGET AUDIENCE As a fast food restaurant, Wendy’s has many potential target audiences. As we reposition to Fast Casual, however, its important to focus towards Millennials who are currently dictating the trends of the market as they frequent Chipotle, Shake Shack and other competitors who Demographics: have increased in market share posing a • Millennial men and women in college • Ages 18-25 threat to traditional fast food chains like • HHI 14.4k+ – often rely on parents and financial aid for supplemental income (Nation a Wendy’s. Center for educational Statistics) TARGET AUDIENCE MEET CUSTOMER, MELISSA… Melissa is a 21 year old college senior. She majors in computer technology and works on campus in the school library to make extra cash. She has no children and plans to finish her degree in hopes of beginning a rewarding career. In the meantime, financially she depends on her parents and any left over federal aid for supplemental funds. She’s tech savvy, health conscious and on a tight budget. In her free time, she frequents social media sites like Twitter, Instagram, Snap Chat and Pinterest. Mellissa finds businesses that bare social responsibility, environmental friendliness and sustainability alluring and considers it a key motivation to buy. She is less inclined to buy from business that she feels lack transparency and decency. Between work and school she doesn't have much time to wait in long lines and values convenience and customization. She wants nutritious food she can trust, on the go. CONSUMER INSIGHTS ON MILLENNIALS • Enjoy convenience • Many college aged millennials like to find quality foods, goods and services for • They are tech savvy – they use multiple phone applications from social media less to apps assisting in everyday activities • Food Integrity; Millennials are in search of convenient eco friendly food • ie. Dating, ordering food and shopping options that promote a healthier, balanced lifestyle. The care to know where • Snapchat, Facebook, Twitter and Instagram are among the most popular their food is coming from and how its made; They prefer healthy menu social media sites for millennials (Statista) options (Forbes) • Millennials end up spending more on apps like Grub hub and Seamless due to • They spend most almost half of their income eating out - as they grow older surcharges and minimums (Forbes) and income rises , their funds spent on food will increase (Forbes) • Millennials seek convenience and tend to gravitate to apps/innovations that make everyday tasks easier and faster • Its important to them that company’s core fundamentals are based in socially responsibility • ie. The company supports/gives/ sponsors philanthropic/eco -friendly causes • The company adheres to a higher code of ethics • no child labor/cruelty to animals etc. • Its important that corporations are transparent and honest MAIN GOAL AND OBJECTIVES Problem Objectives Fast casual restaurants like • Increase market share by 15% with in the Chipotle and Shake Shack are fiscal year • Increase sales by 30% by the next FY gaining momentum and • Increase Wendy’s app usage by 20% within replacing the tired, traditional Goal the next FY • Increase in-store foot traffic by 30% within fast food category, posing a the FY huge threat to Wendy’s, Reposition the McDonalds, Taco Bell and KFC. Wendy’s brand as a reputable and trusted fast casual restaurant. CAMPAIGN DETAILS • To achieve our Goal, we have planned a year long campaign using strategies and data to best notify the public of Wendy’s repositioning. • We’re using marketing channels to engage and create a customized experience. Wendy’s is partnering with millennials to crate an interactive marketing experience catering to that audience and making them feel involved and in charge. • The following marketing strategies will be integrated into a multi-channel campaign to reach current and potential customers: • Advertising • PR • Sponsorship • Promotions CAMPAIGN SLOGAN A STEP ABOVE THE REST. Value Proposition: Great Value, On the Go. We aren't your average fast food restaurant. Wendy’s Provides fresh, quality food you can trust at your speed. Stop in and get comfortable or grab food to go, with the same great taste, every time. CAMPAIGN DETAILS – ADVERTISING • During the Introduction period of our new and relaunched product line lifecycle, paid digital advertising, TV and Radio commercials will be utilized to raise awareness of products, and overall fast casual experience which includes the restaurants new formats and consciousness behind practices and operations. General messaging will convey the brands new menu options, slogan and the relaxed, trendy Fast Casual experience along with creative that aligns with the brands new and improved direction. A step above the rest. CAMPAIGN DETAILS – ADVERTISING DIGITAL ADVERTISING Example Ad 1 Example Ad 2 • Most millennials spend large portions of their day on the web, particularly social media. In our attempt to increase visibility among millennials, we will place brand dollars towards digital advertising. • Strategy includes: • Ads and video will feature lite, healthy options and some old favorites to show variety and attract health conscious millennials. • Depicting Millennials enjoying a meal with friends inside in a relaxing, trendy atmosphere at an on-campus Wendy’s location. – this better targets college aged millennials with limited budge still seeking quality meals. • Quality ingredients, great taste, and locally sourced products will be the focal point of Ads. • All Ads will undergo a test to ensure they display menu variety, the fast casual atmosphere, trendy updated aesthetic, new menu options, the Wendy’s app for easy ordering, great customer service and tasty food prepared quickly and on the go • Wendy’s
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