Understanding the Principles of Marketing

Component B Re-sit

Individual Report and Critical Reflection

3 August 2021

Student No. 21000879

Word count:
 Executive Summary

The purpose of this file is to examine and analyze T.G.I. Friday's key segments.

In this paper, the key segments of T.G.I Friday such as market segmentation,

stakeholders and target markets, competitors, six marketplace models, cutting-edge

advertising mix, and critical achievement aspects are discussed. Different critical

success factors of this business are discussed in this paper with different data and

facts. T.G.I. Friday’s marketing mix which are 7p’s are also described briefly in this

paper. Two (2) of the critical success factors which are CSF 1 and CSF 2 are clearly

described and recommendations to improve these factors is described will in this paper.

In addition, this investigation provides recommendations to T.G.I. Friday in response to

its advertising mix. For item A, a market audit was carried out using micro, micro, and

Tow’s research, which assisted in identifying critical success elements.

Table of Content
1. Brand Overview

1.1 Introduction to T.GI Fridays

TGI Fridays was first opened in the New York city.

1.2 Competitors

Direct competitors:

Chillis

Olive garden

Ruby Tuesday

Red Lobsters

Indirect Competitors:

KFC

Pizza Hut

Dominoes
 Burger King[ CITATION COM21 \l 1033 ]

1.3 Market segmentation and Target market

As we know that, each and every individual has their own unique needs

and wants which are met in different ways. Thus this is the challenge for

the companies to make various decisions in order to attract customers

which can be done through market segmentation in order to target its

customers. Market segmentation is the process in which a whole market

is divided into smaller forms. TGI Fridays mainly targets from the age

group of 22-55 which are mainly middle to upper class. They provide high

quality foods. It launched its mobile based advertisement which was to

target the people of age group from 18-35. It is focusing casual dining

with 1000+ outlets in more than fifty countries.[ CITATION CPM21 \l 1033 ]

1.4 Six Market Model

Market model helps the firm to learn about the stakeholders that might be

important to them. If any organization or firm wish to sustain for the

longer period of time then it has to deal logically with both internal and

external environment. Through the six marketing models they can have
the knowledge about the opportunities that are available. [ CITATION Dee13 \l

1033 ]

Customer Market:

They mostly focuses on the customer relationship with

unique marketing techniques. Fridays also reward the loyal customers

and also try to take the feedbacks.[ CITATION Bri21 \l 1033 ]

Referral Market:

It does its promotion through various medias such as

T.V, magazine, newspaper and all social media platforms. [ CITATION

Hit19 \l 1033 ]

Employee Market:

Fridays has got almost 18,000 employees and is

ranked fifth among its customers.[ CITATION owl21 \l 1033 ]

Supplier Market:

They mainly supply chickens, sea foods and animal

based proteins.[ CITATION COR19 \l 1033 ]

 Internal Market:

It try to provide high quality foods.

1.5 Perpetual Map

2.0 Critical Success Factor and Prioritize

2.1 CSF 1

In today’s world social media has become important essence of our lives.

Although the usage of social media is becoming more important as part of a company's

overall strategy, little study has been done to systematically consolidate and expand

information on social media marketing techniques (SMMSs) but the research done till

now have shown a positive response towards the importance of social media marketing

in any kind of business [ CITATION LiF21 \l 1033 ]. One of the most important and mostly

used system to involve the customers in business is with the help of digital marketing.

The use of electronic media by marketers to promote products or services into the

market is known as digital marketing. Digital marketing's major goal is to attract

customers and allow them to interact with the company via digital media [ CITATION

Yas15 \l 1033 ]. Mobile phones (including SMS and MMS), social media marketing, display

advertising, search engine marketing, and a variety of other digital media are all

examples of digital marketing. With the help of digital marketing, we can increase

customer’s satisfaction, know about our competition and also helps in building loyal

customers. Technology is crucial in enhancing the quality of services supplied by

business units. TGI Friday’s can share health tip, recipes which can attract more

numbers of customers. Friday’s decided to activate social media campaign which

enhanced the restaurant experience. It started Burger Face social campaign and asked
customers to help with the engagement. They learned positive learning from this

campaign and also did other various campaign. [ CITATION Kal21 \l 1033 ]

CSF 2

Friday’s focuses on casual dining, and also tries to provide peace and casual

environment its customers. Employee success at TGI Fridays is measured by more

than just "carrying plates." Management believes that empowering their employees is

vital, and as a result, encourages employees to take ownership of the customer

experience[ CITATION Urq02 \l 1033 ]. The use of empowerment as a tactic for employee

management is commonly advocated in suggestions for improving service quality in

hospitality operations in TGI Friday [ CITATION Las00 \l 1033 ]. They have got varieties of

menus such as burgers, wings and chicken products with hard/soft drinks. Customers

are increasingly diversified in their alternatives, as it is usually considered that a greater

diversity of possibilities is more appealing to them. Both marketing and customers will

be satisfied if you provide options. T.G.I Friday devotes more time to research in order

to adapt to evolving technology and gain a cost advantage in order to preserve their

market position. This allows them to please current consumers while also attracting new

customers looking for delicious meals by offering more options and higher quality. It is

trying to make the customers and employees happy and satisfied. All the branch of

Friday’s are opened till midnight, breakfast hour opening from 11AM. It is also opened in

holidays to give their customers services[ CITATION Men21 \l 1033 ].

3.0 T.G. I FRIDAYS current Marketing Mix (7PS)

 Marketing mix(7PS) is very important and useful for the marketing of the

business. Currently, T.G.I Friday’s marketing mix is based on 7PS which are product,

price, place, promotion, people, process, and physical evidence. The marketing mix is a

powerful concept because it makes marketing appear simple, provides for the

separation of marketing from other company operations and the delegation of marketing

chores to specialists; and - the marketing mix's components can influence a firm's

competitive position[ CITATION Jai13 \l 1033 ]. The marketing mix strategy has two

additional advantages. For starters, it's a useful tool for recognizing that the marketing

manager's work is largely about balancing the benefits of one's competitive strengths in

the marketing mix against the benefits of others. The marketing mix's second benefit is

that it reveals another aspect of the marketing manager's work. T.G.I also follows the

7PS marketing mix strategy.

3.1 Product:

T.G.I Friday is quite famous for the products that are found in this restaurant. TGI Friday

offers a unique, enjoyable, and casual dining experience to its consumers. It all started

with the goal of providing a social and networking space for young people. As part of its

marketing mix product and service approach, it is a restaurant with a broad menu

serving high-quality American cuisine, bar food, and beverages. Variety of products

according to different group range is available in T.G.I Friday restaurant. They have

variety of items available for every age group. The menu of TGIF caters to a wide

spectrum of consumer preferences. There are appetizers, burgers, sandwiches,

spaghetti, steaks, salads, soups, side dishes, snacks, and desserts to choose from.

There are also platters for large groups and a kids' menu.
3.2 Price

The pricing of the T.G.I Friday is quite affordable which is why it is famous among

different kinds of middle-class people too along with the upper class as well. It is quite

cheaper than other restaurants which is why many people from all class go there.

Potential clients for T.G.I. Friday are persons from the upper, upper-middle, and middle

classes who live in cities. T.G.I. Friday is a cost-effective option. The commodities

prices have helped to maintain a continuous stream of buyers who have demonstrated

their commitment by returning time and time again. It has also created a promotional

scheme that offers customers discounts and coupons.

3.3 Place

The first TGI Fridays restaurant opened on First Avenue and 63rd Street in Manhattan

in 1965. Later, he formed a company with Ben Benson, a college acquaintance.

Memphis was the birthplace of the TGIF chain. The second founder, Daniel Scoggin,

launched eight more restaurants in major Midwestern cities. T.G.I. Fridays has

established a footprint across the United States. It has increased its international reach

in the global market by nearly 900 locations in over sixty countries. TGI Fridays

restaurant are famous almost all over the world as they are established in number of

locations. TGI Fridays are famous and know by many people all around the due to their

establishment in different countries. It is widely famous in US as it was established

there and many branches of this restaurant are their in USA.

3.4 Promotion
TGI Friday is focused on his promotion and spend a lot of money in the promotion of

their business through various mediums like digital marketing which consist of social

media, newspapers, etc. T.G.I. Fridays has established an integrated marketing

approach for the promotion of its business, which includes television, magazine, leaflet,

and newspaper advertisements, as well as social media platforms like Instagram,

Facebook, blogs, Twitter, and YouTube. It uses various strategies for its promotion. It

has also unveiled a number of promotional campaigns. It includes a rewards program in

which members can get complimentary chips and salsa with every visit, as well as

invitations to special events and other advantages. Like this, it invests lots of money in

the promotion of its business which is why it is famous all over the USA and different

other countries.

3.5 People

When analyzing corporate programs that claim to empower employees, it's important to

distinguish between those that are labeled empowerment and those that aren't.

Employees should have a sense of personal efficacy as a result of empowerment. TGI

Fridays is a company that provides consumers with a service that may be described as

"mass customization." Employees must provide clients with both advise and counselling

in the manner they create their meal experience, as well as a tailored service

performance, for a successful service interaction[ CITATION Las001 \l 1033 ]. The polite

service and welcoming attitude of TGIF's crew is something they take pleasure in.

Individuality is valued at TGIF, and employees are encouraged to express themselves.

Employees with a high feeling of honesty and loyalty are sought by TGIF.
3.6 Process

If the business is to success, the main thing that the business needs to focus on is

about the working process, strategic process, etc. which will keep the business on the

right track with good reputation. Processing in the business is one of the most important

things which leads it towards the success. TGIF's attitude is to give everything you've

got to whatever job you're doing, and they live by it in every element of their business,

whether it's building a new location, hiring new employees, or cooking food. TGI

Friday’s focuses in processing of its business in every aspect of the business which had

made it one of the top restaurants. TGI Friday's sends experienced TGI Friday's

employees to the new location to teach the new restaurant. Like this, it makes and

execute different processing strategies which keeps the business on track with good

reputation among the customers. Customers love the way TGI processes various things

in its business.

3.7 Physical Evidence

For any business organization, it is very much important for them to have their own

physical symbol of their business which should be unique than other businesses. TGIF

believes that its furniture, which includes key keepsakes like propellers and racing

sculls, may help to create the finest mood possible. The restaurant's music has been

meticulously chosen and recorded. It Exteriors are stuccoes and the main door has F-

shaped knobs. A strip with the slogan "It's still Friday in here" is also on the metal cup

above the door.

4.0 Recommendations:

Here are some of my recommendations on CSF 1 and CSF 2.

4.1 Recommendations for CSF 1

4.1.1 Promotion

Promotion is one of the most important strategies for the business to be success in the

business market. Promoting business through different modern technologies by making

various ads of the company is what takes the business to the wider range of customers

and makes it famous. Advertising will assist in gaining awareness in the business, as

well as assisting in the growth of the business. With nearly half of consumers using

technology tools, advertising indirectly aids in the growth of word-of-mouth referrals and

the acquisition of more new customers. T.G.I. Fridays must be able to take advantage

of this chance to deliver the finest possible service.

4.1.2 People

Focusing on the employees and the customers must be the top priority of any business

if it wants success. TGI Friday's employees' advancement should be based on their

ability to execute, effort, and investment. To ensure that all personnel reach a minimum

standard, the restaurant should establish more training programs. In order to maintain

the same level of efficiency, they should upgrade their technologies and increase the

overall skills of their staff.

4.1.3 Process
Internet is one of the most used technology by people in today’s world. So, TGI should

take advantage of it and use internet to provide various online services to the

costumers. T.G.I. Friday should keep their brands alive by utilizing the internet to deliver

the finest service possible.

4.2 Recommendations for CSF 2

4.2.1 Product

For a restaurant business, one of the most important things that should be kept in mind

is the product that they are providing to the customers. T.G.I. Fridays should focus on

their core product by enhancing quality and offering fresh and nutritious meals to keep a

positive impression with existing consumers and attract new ones. More combo deals

should be offered by T.G.I. Fridays. Customers should be able to choose from a variety

of more enticing selections at T.G.I. Friday.

4.2.2 Price

Pricing of the product that the business is providing to the customers should also be

kept in mind if they want a positive response from the customers. The chain's highest-

grossing store, located in Haymarket, Leicester Square, London, is well-known and

commercially successful in the market. T.G.I Friday should develop a pricing approach

that includes a lower price in order to gain a larger market share.

4.2.3 Place

Business should be expanded to various customers so that it can get wide range of

customers and be more successful. T.G.I. Fridays already has over 900 locations and is
well-known among the general public, allowing them to grow their brands to new nations

and get new clients.

4.2.4 Physical Existence

The brands are mainly known by customers due to the unique logo that they have as

the physical existence of the business. To maintain ambiance among clients, T.G.I.

Fridays should come up with more décor ideas based on current trends. To better

understand the demands of customers, conduct individual surveys and then develop

accordingly. Because client demands are continuously changing.

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Critical Reflection:

I learned a lot about TGI Friday restaurant while writing this report. I came to

know about various marketing strategies used by various business organizations for

their success. I mainly learned about how TGI Friday is operating nowadays and what

kinds of business strategies is it using. I learned about various marketing strategies

used by business organizations. I mainly learned about the marketing mix strategy

which is 7PS marketing strategy used by TGI Friday. I learned about how this restaurant

is using 7PS marketing strategy which is taking it towards the success. I came to know

that TGI restaurant is a huge business and it is still expanding all over the world. I was

excited before writing this report and I learned a lot after I finished the work. I felt proud

and happy. This report writing experience has been positive for me and I have learned

more about report writing. I learned about how we need to look outside the circle and

research as much sources about the topic as we can. This has obviously increased my

writing skills. I am sure that I am going to better in my upcoming report writing

assignments as well.