Abstract
Buffalo Wild Wings being a dining restaurant in America with many outlets in different places generates the name of the company from its signature dish Buffalo wings with sauce. The paper depicts different marketing strategies to identify which will be best for Buffalo Wild Wings. The study is focusing the concern to offer betterment to the Buffalo Wild Wings. It is a matter of discussion, which strategy will best fit for Buffalo Wild Wings. Thereby, Buffalo Wild Wings tries to adopt such a strategy, which will be effective to meet all the needs of the customers. Some points hold some significance in those as how other companies are extracting the best of the marketing strategies. During the discussion, some basic marketing strategies are being highlighted to address four p’s – product, price, place, and promotion. However, the best approach in the context can be choosing the most profitable product with all its features. It would offer those features to the lower products to make all products equivalent. The strategy needs to be such, which can be effective for product development. The proper strategy needs to share its concern over price to attract more customers as more expensive dishes cannot be customer friendly. The strategy needs to be such which can serve its place rejecting geographic boundaries. Finally, the strategy needs to be effective for the promotion of the company to engage more customers. The study discusses all the strategies thoroughly to cultivate. The stated strategy can be the best for Buffalo Wild Wings as providing the best profit with much betterment is the only motto of the paper.
Introduction
Strategies are meant to address all the marketing goals of the company by one full proof plan. The marketing strategy needs to be decided after doing thorough research of the market for better understanding. The wrong marketing strategy can be a dangerous mistake from the company’s end. However, the right marketing strategy will be apt for achieving the best revenue for the company. There can be different types of marketing strategy to satisfy different sorts of needs. Paid advertising is a popular marketing strategy. Marketing is a strategy where products are built to satisfy social cause issues or cause. Relationship marketing focuses on building a relationship with customers. Undercover marketing strategy decides not to share their strategies with the customers. Word of mouth strategy mostly depends on the customers and their impressions for the product. It is the most popular traditional marketing strategy. Internet marketing promotes the company through the internet, which becomes the easiest option at present. Transactional marketing strategies mostly focuses on the sales of the product while diversity marketing strategy is the best one among all as it is effective to satisfy all the customers.
The paper, however, will depict the strategies which will be best to accomplish the missions or business strategies of Buffalo Wild Wings. The strategies are being decided by observing and understanding the missions of Buffalo Wild Wings. They can opt their mission of making the brand domestically and internationally known paid advertising and internet marketing strategy. Providing unique guest welcome can be fulfilled by a diversity marketing strategy. The relationship marketing strategy will compel them to present signature dishes to satisfy the customers. Word of mouth will be opting for an engaging neighbourhood atmosphere. Other business missions will be satisfied by the transactional marketing strategy. Thereby, to address all the needs of Buffalo Wild Wings for promotion, a mixed of the strategy will be discussed in the paper.
Buffalo Wild Wings is a dining restaurant who takes franchisee for a sports bar with multiple outlets in different places like Vietnam, United Arab Emirates, Saudi Arabia, Philippines, Panama, Oman, Mexico, India, Canada, and United States. The restaurant achieves much popularity by its signature dish Buffalo wings with sauce. It was founded in 1982 by Scott Lowery and Jim Disbrow. Buffalo Wild Wings have achieved remarkable growth during the last 30years as it successfully inaugurates multiple outlets in different places covering 51 states. To achieve the rank, the company goes by a simple philosophy by focusing on the best part of their restaurant as they offer wings, sports, and bear at a time to entertain the customers.
The restaurant even has multiple franchisees under the brand to make it more famous. They serve the same types of Menu in all their outlets with small changes to different geographical location to suit the taste buds of every particular region. They keep these little things very clearly in their mind as taste or choices of foods vary due to the region. The step to meet the customers’ demand does not share any effect on their signature dishes as they do not try their hands in those dishes.
Furthermore, the stated strategic plan is being obtained to make the vision of Smith successful. Smith is looking forward to inaugurating 1700 more restaurants in the coming ten years. Thereby, deselecting proper place for those is holding its position in the top at the prior list. The mission somehow looks impossible apparently, while observation reflects proper marketing strategy can definitely serve the purpose successfully. BWW has already started its dream journey to offer reality to the dream very soon. However, the paper will further discuss how BWW will achieve this with a positive and quick response. It even will state what type of strategies BWW need to take to finish its target. The paper will even evaluate how the taken strategies will be beneficial in terms of completion with rivals like Hooter’s, Carlson Restaurant Inc, etc.
However, the paper will project a grand strategy for BWW to meet the needs like quality, growth, and diversification in BWW. Key objectives of the company are noted seriously to offer it an international market by reflecting its all positive sides. In order to grab an international market, the paper offers BWW better understanding of new concepts regarding international marketing strategy and the procedure of applying those strategies effectively.
The Subject of Project
Marketing Strategy has been considered as the subject of this project to promote the trading value of Buffalo Wild Wings. Buffalo Wild Wings is an American restaurant which expanded in various parts of the USA. The marketing strategy is the utmost approach to encourage the business value of Buffalo Wild Wings. Marketing strategy included as a beneficial part to increase the potentiality of Buffalo Wild Wings. The proper implementation of marketing strategies helps Buffalo Wild Wings to compete against another restaurant (Bragg, 2018). The hierarchical department of Buffalo Wild Wings plays a major role to promote marketing strategies. The appropriate implementation of marketing strategies can help to increase the customer value and also helps to enhance the standard of Buffalo Wild Wings. The marketing strategies play a crucial role by developing the marketing value of Buffalo wild wings as it helps to promote the consumer value (Cacciolatti, 2016). The marketing strategies have influenced the effective marketing plan, which helps to seize the old consumers and also helps to focus on the new consumers. The marketing strategies can be developed by planning the target consumer. It helps to determine the proper approach to develop marketing strategies. Buffalo wild wings are the restaurant which expanded in various parts of the USA. The enhancement of marketing strategies may influence the quality of the food products, which helps to satisfy the customer and helps to increase the value of the consumer. The marketing strategies also developed by observing the competitive value of the competitor organization. The enhancement of the sales approach can increase the value of marketing, and thus, it can develop its potentiality and emerge its competitive value (Hanus, 2018). The managerial department is employed to select the smart marketing goals which impact on the economic condition of Buffalo Wild Wings.
The marketing strategies encourage the business value of Buffalo wild wings by including the advertisement process. The consumer behaviour also plays a vital role in developing the marketing value of Buffalo Wild Wings. The customers get attracted by the advertisement process as it helps to present the productivity of Buffalo wild wings. It also encourages the consumer to develop their loyalty. This impact on the trading value of Buffalo Wild Wings. It can be stated that a well-defined marketing strategy help to identify the vision of Buffalo wild wings and also help to meet the goals of Buffalo Wild Wings (Morel, 2015). The inclusion of appropriate marketing strategies helps to develop products as well as employee activity skills. The influence of marketing strategies also develops the innovative qualities of Buffalo Wild wings. The influence of marketing strategies has lead Buffalo Wild Wings to develop its innovativeness by including a variety of menus, trivia games, video games.
Goal and Sub-goals of Project
Buffalo Wild Wings is an American restaurant that is consisted of a sports bar franchise and casual dining across the United States. Other countries such as India, Canada, Oman, México, Saudi-Arabia, Philippines, Panama, Vietnam, and UAE are considered to have a specialization in Buffalo sauces and wings. The research team aims to get popularity by increasing its marketing strategy. It is predicted that ‘Buffalo Wild Wings’ already crossed level one for developing their marketing strategy. Not only that, this is quite hopeful that using their marketing strategy, this restaurant will fulfil their target goals. To define their mission, goals, and sub-goals will meet its mission, vision, and business goals.
On the contrary, they have outlined the areas that are considered helpful for achieving these goals. As their marketing strategy affects their entire business, therefore, the research team has planned to escalate the marketing strategy of Buffalo Wild Wings. It is worth mentioning the fact that comprehensive strategic planning will define the goals that are as follow-
- Achieving specific financial targets.
- Continuation for strengthening ‘Buffalo Wild Wings’ brand internationally and domestically
- Generating restaurant ‘Traffic.’
- Offering the crave-able menu items with wide appealing
- Creating an inviting neighbourhood atmosphere
- Extending their business in numerous location by meeting the cuisines as per their prior expectation
- Focusing on operational excellence
- Developing the ‘R Taco’ brand through operational excellence and unit growth
- Increasing the average unit volume, profitability, and same-store sales
The primary goals and sub-goals of Buffalo Wild Wings include a change regarding their employee dress code, updating menu, social media campaign, and no paper boats for ‘Chicken Wings.’ It can be said that Buffalo Wild Wings was acquired to be an inspired brand within just over a year. Hence, they are quite optimistic about proceeding with their new changes. These changes took place for rebranding as a hangout spot and won over millennial customized new generation’s consumer those created maximum issues since the past. They are optimistic about being considered as a hangout part that will entice the millennial to attend the party onwards.
Targeting the young sports fan as a consumer, the primary purpose of rebranding would inspire the new advertisement. It would include the dress code of staffs, updating menus and games on the tables that are attached with the rapid growth following the crowd with the millennial.
In the month of March, as a ‘March Madness’ Buffalo Wild Wings has set up a goal by focusing the swarming millennial at the time of NCAA college basketball tournament. They have pre-planned regarding the enjoyment of watching basketball with a new advertising campaign, updating the new menu items, revamping the staff uniforms, and dis-appearing the popular paper wing boats.
Buffalo Wild Wings aims to establish a goal of creating a partnership with renowned sports brand ‘Draft Kings.’. As per their last agenda; they have decided to provide their waiter to wear the T-shirt. Not only that, they updated their menu with a branded cocktail such as ‘Moscow Mule’ and the ‘Old-Fashioned.’ Their burger recipe gets prepared to modify with the plastic ramekins, fresh beef and paper boats for wings. It is worth mentioning the fact that frozen beef and paper boats produced near about a million plastic and paper annually that would be replaced in favour of metal trays.
This restaurant has planned to decorate their new stores in the forthcoming December. Buffalo Wild Wings inaugurated two redesigned location by including ‘Play-Station consoles’ and ‘Xbox’ along with self-services beer and cocktails.
Finally, this restaurant has set up a goal to retrain individual employee that would help to have 80000 employees to get trained. Improving the quality of foods this training is consist of reexamining every recipe as well as tweaking the beer offering. Moreover, the Buffalo Wild Wings tends to create the ‘Chicken Sandwich’ with ‘Chick-fill-A’ at the top.
Audience
The main approach of the project is to develop the marketing strategies to develop the innovativeness of Buffalo Wild Wings. The plan of marketing strategy has been developed to show the hierarchical department of Buffalo Wild Wings. The project of marketing strategies has been prepared to present the project approach to the employees, managerial department of the companies. The employees and the managerial department employed to develop the marketing value of Buffalo wild wings. The marketing strategies helped them to develop their creativeness, and thus, it helps to bring innovation in Buffalo Wild Wings (Uitermark, 2015). The plan of marketing strategies plays a crucial role to develop the economic condition. The audience, such as managerial department, employees can be implemented as the foremost factor to develop the marketing strategy of Buffalo Wild Wings. The plan of marketing strategy helps to determine the roles and responsibilities of the employed person in Buffalo Wild Wings, and thus they can develop the innovativeness in Buffalo Wild Wings. Moreover, it can also be stated that the marketing plan includes the additional expenditure of Buffalo Wild Wings. It helps the employed individuals to develop the creativeness of Buffalo wild wings and helps to achieve the goals of Buffalo Wild Wings.
Presentation of Result
Buffalo Wild Wings maintains its business by McLane Company Inc – a committed supplier. The supplier tactfully and strategically manages the supply chain for them. The supply chain is even effective to decide the competitive pricing. It finally focuses on the steady pricing of its services or dishes, ignoring the fact of increasing the price of the raw materials. With the efficiency of the supply chain, the franchises able to go with the stated strategy regarding stable pricing. The company uses the strategy of keeping the price and quality the same while decreasing the quantity of it. It can be cited as an example that the chicken pieces remain the same size with the decreasing number of wings from six to five. The customers do not really care much for this.
On the other hand, the company successfully retains its profit margin with a not so significant strategy. Along with this, the BWW even often offers larger pieces than earlier to maintain its customer baseline, and the information’s get its relevance. Furthermore, Buffalo Wild Wings business rate of selling excessive numbers of traditional boneless wings shows the fact that BWW is developing.
Management of Buffalo Wild Wings conveyed that best revenue BWW achieved by the process of chicken wings from some shop sale. As per the information, it can be stated that the fourth quarter of a wing price was $1.99 pound, merely 10% higher comparing to the last year. The number of labours is being increased through the passing years to 31.8%. The management understands that the changes in the industry will remain getting influenced by the fluctuating customer demands an ever-growing competitive market. Looking forward to the achievement of Buffalo Wild Wings 100 restaurants are being launched by third party involvement regarding the delivery during the month of December. With the advancement, 30% hike is being noticed in its delivery, noticing the conventional take out. According to Schmidt, sales can be conveyed as incremental as it holds the capability of boosting the entire process towards advancement. In spite of the fact, Buffalo Wild Wings tries hard to improve the profit with a better version by working on the alternatives. The sales’ increment impacts the delivery charge becomes more customized initiating better customer satisfaction followed by a better profit margin.
Overview of The Project
As per the discussion, it is clear that the main motto of buffalo wild wings is to open many outlets internationally. Along with this, they are even interested in investing largely in other businesses. BWW actually wants to have ‘wow’ expression from the customers, community, shareholders, and team members. The continuous development offers them much relaxation to overcome the initial doubts regarding the future of the company. Continuous advancement and changes with time make them able to achieve this rank depending on the key factor of customer satisfaction. The achievement even offers them much confident to be indulging in other sectors for more profit in the part of the company. In order to make this future aim successful, they even seek help from the market share, which eventually will be the most favourable tool for them. However, the tool needs some backup strategies to be successful as it needs to be deployed, marketed, and projected in the right way. The three aspects of BWW with PizzaRev and Rusty Taco with collaboration in some places among them offer more profit in the part of the company. It is expected that this collaboration will be beneficial in terms of the future settlements. The company instead follows a great business strategy for the development as at the starting phases. They used their cash flow for funding the above-stated projects. In spite of all these facts, it’s time for the company to plan more funding for satisfying alternative means to initiate better revenue. To make this plan successful proper planning equipped with right strategies is much needed to make all the goals exists in the practical field. All these things as serve severe importance in the part of the company; thereby, it is much needed that BWW needs to spare enough room regarding time.
For the last five years, the company is focusing its much concern and budget for advertising for the promotion of the restaurant as it achieves the revenue for the company up to 3.7of total revenue. With the profit margin, the expanse even gets increased for the last few years, which are a very common thing as per the business strategy. The large portion of the budget is being used by the company for promotion, the advertisement for the brand. The company even opts for a strategy as it purchases commercial breaks during the football tournaments to project the break during the overtime. The company even strategically inputs that the franchisee owner has to pay 3.5% from their sales as a marketing fee. From that 3% goes for National Advisory fund and rest .5% spent for the co-ops by the franchisee. BWW spent .01% of their revenue to do a survey among the customers for upgrading their services. Customers are free to share their view regarding advertisement, promotion, and service of the company in the survey. The feedback or comments help the company to improve its operation further. B-Dubs Huddle, another initiative by BWW, introduces tablets in restaurant table with the help of its own TV network and radio. The channels mainly telecast contemporary hits and sports exclusives. BWW uses technology in the best possible way of dealing with the customer experience. In order to enhance the customer experience, the restaurants are equipped with HD LCD TV sets with projectors and sound system to attract a crowd by putting the interest of the sport. Introduction of tablets serve both purpose of entertainment and placing an order. It can be used for playing the video game and placing the order.T he concept of ‘stadia’ ties to imbibe the interest of stadium in it.
Use of Result
According to the above-presented result, this can be said that, in 2017, the financial performance of Buffalo Wild Wings was estimated with negative 1.6%-1.7%. Hence, this restaurant is considered as inspiring by following its approx $2.3 billion of purchasing of Sonic Drive-in. Being an inspired brand, this restaurant was dealt by $2.9 billion. After analyzing the above data, it is cleared that in future, this restaurant will emerge as a dangerous force in the industry. It will be able to shift its consumers towards boneless chicken. The marketing mentioned above strategy is optimistic about starting over designing small stores. On the contrary, its proper growth will expand the dormant delivery events that are considered as an effort. These efforts for storing filled occasions where the guests are not willing to tend to spend hours (Steffen, Rüthing & Huth, 2018).
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As per its growth of 2017, it is seen that the net earnings were estimated at approx $70-$72 million following the previous years. It is believed that Buffalo Wild Wings can be suffered because of its millennia’s growth. At the same time, as previous generations and older dinner as these millennial tend to lead toward convenience. Hence, the quick service will be considered as less spending during dining environment (Steffen, Rüthing & Huth, 2018).
The above-presented results also show that ‘Buffalo Wild Wings’ unveiled an exclusive menu for their football campaign. As this value focused on the offering centred by approx$5, Therefore, it added a bratwurst, unique cocktails, fries, cheeseburgers, and domestic pitchers of 38 ounces. It can be assured that the pitch would be an immediate lead by uptick sales, especially on the weekends (TAYLOR, 2018).
The addition of exclusive beer and foods will promote the seasons of Buffalo Wild Wings. According to the project team, this restaurant would include major five ‘First-to-Market’ regional craft6ing brews. Not only that, the supply chain will make a partnership with the regional crafting organizations in order to provide unique offers along with offering football themes. Hence, within a short time, this restaurant would introduce the upcoming instalments of its legends of Craft Beer Brew series.
The presentation, as mentioned above of the result, shows that the proposed marketing strategy provided a glimpse towards this restaurant for future proceeding. Therefore, the Buffalo Wild Wings projected to become a tremendous American sports bar as well as providing guests with an immersive and unique experience (TAYLOR, 2018).
The research team proposed a model that got inaugurated in countries such as Texas, Caney, Kentucky, and Bowling Green. It is optimistic that inaugurated the Buffalo wild Wings will rock across North Carolina, Fort Worth, Texas and Arden very soon. This restaurant has planned to include a prominent bar (both indoor and outdoor). Therefore flexible sea beach areas, free-flowing and spare VIP spaces, A/V technological stadium consists of the LED screen for attracting the consumers (Wohl, 2018).
Researchers have decided to modify this restaurant with ‘MVP’ and ‘DUGOUT.’ They are quite hopeful regarding its waiting areas that are likely to lounge with a sporty feeling. They are confident to all the guests for grabbing h drinks along with watching a game while waiting. Moreover, under a UFC fight, the bleachers will get transformed into the best seats of the bar as a cool waiting spot (Wohl, 2018).
The use of result concludes with the MVP room that will only available for the guests of above 21 age. This room has planned to consists of a 3rd ^0-inch TV, two 80 inch TV, six self poured beer taps and gaming consoles. It is worth mentioning the fact that the goal is to capture the consumers into the sports rage by offering the of ‘Mini Stadium Environment.’ Besides, the consumers will serve as three experienced functions such as local activation, private gaming, and private viewing. Moreover, the Buffalo Wild Wings would provide an ideal spot for hosting the great shows (local and remotes).
Method or Procedure Used to Conduct The Project
The qualitative research approach has been undertaken for conducting this project. The qualitative research approach includes the observation, interviews, and survey process. The interview for the person can help to enhance the data collection process. The enhancement of data collection process helps to determine the specific condition of the organizational context. Thus it develops the marketing approach and helps to expand the organization globally. A survey can be considered as one of the significant processes to develop the marketing approach as it helps to identify the current condition of Buffalo Wild Wings. Thus the hierarchical department of Buffalo Wild Wings can evaluate the various marketing approach and can promote the selling value of Buffalo Wild wings. The qualitative research approach also includes the interview process, which helps to gather information based on business strategy. The influence of business strategy indicates the appropriate process to influence trading value. It can also impact on the economic condition of Buffalo Wild Wings and develop the potentiality of Buffalo Wild Wings. The survey also plays a crucial role to identify the competitor value in the market, and thus, it brings variable changes in the organizational context. Thus it may bring changes in pricing strategy which may satisfy the consumers and helps Buffalo wild wings to meet its goal.
The survey may also encourage the hierarchical department of Buffalo wild wings to develop the innovativeness by including various technological developments. The technological developments generate enhanced services to encourage the customer and to develop the potentiality. The qualitative research approach also identifies the position of the competitor and analyzes the appropriate marketing strategies to develop the project based on the marketing strategy of Buffalo wild wings. The case study also plays a crucial role in developing the project approach as it provides sufficient data based on the marketing approaches of an organization. It can also be stated that case study influences the innumerous sources of data and also provide the clear concept of multiple descriptions of various organizations. This influence the marketing approaches of Buffalo Wild Wings and help to develop the project. The interview is a significant process to influence the qualitative research approach as it helps to collect various data from the experienced person. The data collection process brings various developments in sales. It also brings various innovations in productivity, which impacts on the economic condition of Buffalo Wild Wings. It helps to include various new menus in the restaurant, which satisfies the customers and helps to meet the demands of the consumers.
Additionally, it can also be stated that the qualitative research approach also influences the exploration of various purchasing approach of Buffalo Wild wings. It also provides an appropriate concept to develop the business strategy of Buffalo Wild Wings. It may also encourage the marketing strategy by including various old strategies in marketing. The qualitative research approach can be considered as the clear concept of marketing as it also provides the logical support to influence the marketing strategies of Buffalo Wild Wings. The qualitative research approach develops the project by analyzing the various strategies in business and fulfils the goal of the project. The qualitative research approach may provide numerous data based on competitor and helps to promote various restaurants throughout the world. The data collection process helps to develop the uniqueness in the organizational context and helps to promote Buffalo Wild Wings sustainably. It also promotes the trading value by influencing business strategies. It may also impact on the organizational context of Buffalo wild wings by enhancing the observation in food prices. It may help to attract customers and increase consumer value. The qualitative research approach plays a crucial role to expand the restaurants in the market. It helps to decrease the risk factors of the organizational context and develop the sustainability of Buffalo Wild Wings. Thus, it encourages marketing strategies and fulfils the goal of the project.
Project Summary
Marketing strategies for the business landscape as this leads to developing promotional strategies identify the most accurate business activities to achieve the goals. This project is conducted to develop the most appropriate marketing strategies for the organization “Buffalo Wild Wings”. It is an American dining restaurant and aims to get renowned in the market and achieve their financial targets. The first activity to start the project activities is to develop an effective project management team. The project team has been formed with 15 personnel in different designations having adequate skill, experience, and expertise to proceed with this project. After the selection of the team, the activities are distributed among the team members. The curriculum plan has been developed for the better communication and continuation of work in this project. The prime deliverables of this project are a proper and complete study of the market, analysis report of marketing strategies, documentation of market report and market analysis, marketing campaign through social media, the proposal of smart marketing strategies and the final review of the proposed marketing strategies.
After the completion of this important part, the main project is initiated to be performed. To start with the project, the prime activities of this project are identified and broken down in different phases. The project activities are to be performed into for phases: the initiation phase, phase of planning, execution, and project closure phase. The main activities to be performed for this project are the initiation, collection of information, allocation of resources, project plan, marketing campaigns, analysis of current strategy, development and implementation of a new strategy, review of the project and finally documentation an approval. A Gantt chart is to be prepared for setting the schedule of the activities. The entire project is going to be started on 20th July 2019 and will be preceded for 200 days. The project may get affected by the factors of low budget, lack of efficiency of data analyzing software, and other external threats.
| Project objectives | To develop a suitable market strategy for Buffalo Wild Wings to ensure the achievement of financial goals of the organization and make the organization popular in the market |
| Project audience | Buffalo Wild Wings |
| Project milestones | To complete the researches and develop the strategies within the estimated end dateTo ensure the completion of the project within the allocated budgetTo develop a superior quality of marketing strategy for the organization |
| Project deliverable | Documentation of marketing studySocial media campaignsProposal of marketing strategy Internal stakeholder reportProject closure documents |
| Project budget | Allocated by the organization |
| Timeline | 200 days (7/20/2019 to 10/06/2019) |
| Project management team | 15 members |
| Project risks | Low budget, lack of communication, lack of efficiency of data analyzing software, governmental policies |
Approach
The research approach is as an utmost factor that contains the broad assumption of Data collection, interpretation, and analysis. In this research, the risk of marketing strategy exposed those factors that relate with the ‘Buffalo Wild Wings’’ investment securities. In this paper, the approaches are offset with the liable changes that are inter-linked with equity marketing.
The ‘Qualitative Approach’ proposed to address the prediction about the probable connection. This connection was between the things attached to the variables. In order to find the answers, the ‘Inductive Approach’ research questions used for collecting the data by various means.
The inductive analysis permitted the researchers for discovering the complexity among the casual relationship that determines the extension over variables influences. As per the above result, the Inductive Analysis consisted of the statistical explanation over the findings’. It also helped to implicate significant terms and conditions.
The Qualitative approach helped to collect numerous data which require proceeding with the project by including vital information. This was optimistic that, this restaurant could be started over a quick-service chain in Arby’s along with a casual dining concept of Buffalo Wild Wings. However, researchers believed that the intercontinental hotel and exedras offered by the former industries. The inductive approach decided to span the spectrum occasion that might get considered as less competitive for the event. As a result, it predicted to operate the teams with the specified brand. However, a hotel brand is not entirely different while running. The marketing strategy has used here to use two non-different size brands such as Buffalo Wild Wings and Arby’s. It was decided to set up a ‘Foundation’ that can acquire the other brands optimistically.
In this research, the Inductive approach was all about to set the organization’s ‘Service Style Agnosticism.’ As per this inductive approach, the hierarchical department established the selling price near about $1 billion and 4.5 million. This marketing strategy is all about to proceed with a pure acquisition. Furthermore, the researchers focused on the integration of Buffalo Wild Wings. It was considered that by following this research approach, the marketing strategy of Buffalo Wild Wings would be developed in the right way. The marketing strategy was all about to align the Buffalo Wild Wings while making its brand reputation. By using this inductive method, the prediction of Buffalo Wild Wings was all about to build the brand’s equality to create it’s grown in the industry.
Buffalo Wild Wings set with a mission of focusing on the menu as well as its service experiences. Its marketing strategy and restaurants have the possibility of being pushed off the typical products. It is worth mentioning the fact that the research methodology will put the procedure in place. The exclusive products of Buffalo Wild Wings would be quite different. Moreover, this research approach will lead to these procedures with a similar process along with the different brand.
The goals and the sub-goals of Buffalo Wild Wings are set as per the qualitative research. Consequently, the Inductive proposal would be taken after the factors that can affect the growth of the Buffalo Wild Wings. A variety of data sources, investigating the triangulation, multiple perspectives for interpreting the results and numerous methods for analyzing the research issues have used simultaneously. In this research, an advocacy approach has been applied to respond with the requirements of Buffalo Wild Wings. Analysis indicates an interest to gain complexity and luxurious situation in accordance with obtaining information that can be generalized during comparison with the different larger groups.
This Qualitative approach that got adopted by the qualitative researches tended to be inductive for the Buffalo Wild Wings. This restaurant will develop the theory based on the data that have been discussed in the ‘Result’ section. The approach of data collection and data analysis is considered as methodical that permits high flexibility of Buffalo Wild Wings. The data collection will be carried out in various stages in which the researchers would observe the data collecting methods that proceed right analysis emerge with a new issue.
The findings of this research approach would be reported with more personal terms. The research participants might be criticized for being objective. In some specific situations, the behaviour and the feelings of several participants could not be accessed if not fully understood.
Structure of the Project Team
The project mainly focuses on the marketing strategies of Buffalo Wind Wings. The organization in question being a widespread organization, it follows numerous sectors for its day to day operations (Kwon & Kang, 2019). Sally J. Smith currently serves the company as the chief executive officer. The hierarchy follows numerous levels of distinct operations and respective officers to the departments.
The project, however, mainly aims at studying and understand the marketing strategy of Buffalo Wind Wings. The intricate study for the current settings of the organization in consideration would allow understanding the possible needs for the implementable marketing strategy. Thus, to execute a project, it is evident that the need for an expert team is an essential aspect. Similarly, the proposed project for the organization in consideration follows the basic organizational chart of the company. Thus, keeping the team structure simple and easier to communicate with each other.
The initial proposed team who would be in charge of carrying out the required study over the current marketing strategy of the organization for devising out a new and an efficient marketing strategy comprises of 15 members. All the members are collectively lead by a Project Manager who is responsible for all the actions taken towards any successfully executing the project. Other than that the project would specifically be sponsored by an individual of the organization who would serve as the project sponsor. The team also contains stakeholders, who are referred to as the individual, at times it may also refer to a group of individual. It can affect or can be affected by the outcome of a project. Other than the established members, PAS (Project Advisory Supervisor), Social Media Marketing Officer, Graphic and Media designer are an essential part of the study. The project also includes a dedicated planner who is in charge of planning the dedicated next steps to the project and a dedicated documenter. It is significantly important into carefully foreseeing all the events and documenting everything into the project.
The project team would also contain specific Public Relation Officers who would be responsible for sustaining the public relations and the different needs of the organization into the market. Apart from these, the team would also contain a manager and specific team leader who would be leading a team of 3 specific members. The members would also be responsible for the execution of different allocated tasks at numerous intervals of the project, thus ensuring a specific flow of the project. Lastly, the team would also be comprised of represented who would represent their respective department into the project, thus putting forward their valuable input to the project.
It is essential to establish that the main focus of the project is to specifically build a sustainable and effective strategy for the organization in consideration. However, the main objective is increasing the business and efficiently building a much exception customer experience, that is what marketing and marketing strategy calls for.
Plan Updates
Any project and study remain to be inefficient unless an efficient plan has been followed for the systematic execution of the entire project. Thus, it is relatively important to understand what exactly a project plan is. It can be said that a project plan is characteristically a detailed document that would depict the preceding steps. It have to be undertaken in order to achieve a unified goal (Harrison, 2017). Such a plan may be a formal one or an informal one, according to the requirements calls for. However, the section mainly focuses on the identification, the analysis, and the several aspects of the process. The methods and the elements are also an important part of sharing information between all for the project execution. Thus, establishing a precise and detailed process of communication between all the members of the team, who would be executing the project, is an essential plan. However, simply sticking to a defined plan; rather, a project plan is not all for the efficient execution of the project. Thus, it is important to maintain and follow a specific strategy for sharing the essential plan updates within the team and the organization. This also helps in setting a short term milestone to achieve the long term milestone.
Milestones being an essential aspect to any project, it is mandatory to set and measure the milestone that includes to a specific project. A project when running on a longer time period, the ultimate goal and the milestones associated are comparative more in number. However, when a project is on shorter notice and is contained for a shorter period of time, the number of milestone decreases quite a bit. Thus, in such scenarios, the milestones are set as per the requirements. The milestones to long-running projects are set to be long term goals, which are comprised of numerous short term goals. However, the vice-versa is the case for the scenario where a few short term goals are set to achieve the main objective of a project executed in a short period.
It is important to note that each representative or each individual who has been provided with a designated role in the proposed project would have specific deadlines and limitation. Every deadline should preferably meet for keeping the execution within the feasible amount of time proposed for the project. Even day to day executed task should be reported to their higher authority or all the team members, required (Sadgrove, 2016). The communication lines may be internal or external depending on the clear spectrum of the information that has to be delivered and the gravity of the designations they carry. The communication matter would contain the details of the daily occurrence of the project by the participants. Thus, the communicated data would contain the proceeded tasks and the established grounds considering which the next tasks are to be proceeded with. Situations may arise where the flow of the execution of the project may be interrupted for any uncalled scenario. Hence the updates to the project is essential for letting other team members to know the possible steps to such a scenario.
(Table: Communication Plan for the Project)
(Source: Author’s Creation)
The communication plan, as established for the proposed project, depicts the several modes of communicating the updates to the destination (Robinson, 2018). Here the destination is the other participants of the team. The frequency suggests the time-frequency within which the communicator would be communicating with the respective participant, at least once. The communication line established, however, does depend on the hierarchical structure that has been followed by the organization. It can be observed that most participants are not directly able to convey their information to the highest authority, the project manager, directly. However, the participants can evidently pass on their individual updates to their peers, thus resulting in generalized information to be passed on to the project manager. The whole project is due to start with an initial official meeting with all the participants, and the closure phase would be put into effect by the same method of communication.
Work Breakdown and Task Time Estimates
The project follows the general phases for its efficient execution. The proposed project mostly consists of four initial phases. The four considered phases of the project being:
- Initiation Phase – during the phase project initials are identified and defined; the basic problem statement is defined for the next instalments of the project
- Planning Phase – during the phase the actual planning for all the following steps are defined with great details
- Execution Phase – during the phase the resources are allocated accordingly, and the tasks are executed thus allowing a feasible execution of the entire project
- Closure Phase – is the basic monitoring and reviewing of the project
(Figure: Project Phase)
(Source: Internet)
A Gantt chart is basically a form of the bar chart. It mainly demonstrates the project schedule as per the execution order. A project needs to utilize and describe data over Gantt charts for ease of usage and easy understanding for future applications.
(Figure: Gantt Chart for Proposed Project)
(Source: Author’s creation)
The Gantt chart shows the possible tasks that have to be taken into consideration for the execution of the project. The initial project starts with the initiation of the project and which is subsequently followed by the collection of the required information (Kliem, 2019). After the task is completed, the resources are identified and are allocated accordingly. Once the resource has been allocated, the team for the project is being selected accordingly and is proceeded forward. Followed by the planning and the work breakdown of the project. The marketing campaigns are immediately followed with, and then the analysis of the current strategies 0regarding which the implementable strategies are to be planned out. The project thus is followed by closure and review. Documentation is completed and is sent for approval.
| Tasks | Duration (days) |
| Project Initiation | 5 |
| Information Collection | 10 |
| Resource Allocation | 20 |
| Team Selection | 26 |
| Project Planning | 15 |
| Work Breakdown | 20 |
| Marketing Campaigns | 60 |
| Analysis of current strategy | 5 |
| New strategy implementation | 11 |
| Project closure | 9 |
| Project Review | 2 |
| Documentation | 8 |
| Approval | 9 |
(Table: Project events and execution time)
(Source: Author’s creation)
The previous table shows the basic tasks that have to be completed in order to complete the project with ease. The entire project has been shown to be completed in 200 days.
Project Deliverables
The proposed project which is being carried out for the organization in consideration, Buffalo Wild Wings, is bound to have some deliverables. However, it is necessary to perfectly understand the necessity and the possibilities of the deliverables (Harrison, 2017). A project may be numerous kinds and structures and depends on the magnitude of the project or the business related to the project. There always are certain deliverables to the proposed project that signify the key success and the feasibility of the entire project. The deliverables are basically defined as noticeable, can be physical or logical, yields that are the result after the execution of the project and the stages of the project. Thus a project without any tangible deliverables is primarily impossible. The deliverables of a project mainly depend on the type of project and is completely dependent on the milestones set for the project or the steps involved in the project. There might be projects that just produce a single deliverable (for example, a software project with a single deliverable as the developed software). However, in the particular proposed project, the deliverables are set with the phases the project completes,. It ultimately constitutes the largescale deliverable as the redefined marketing strategy for the organization in question.
The proposed project is projected to have the following deliverables:
- Market study – is the data and the documents that would be derived while initiating the entire project, thus leading into a detailed study of the current market. This would help in to understand the current share of the market that is influenced by Buffalo Wild Wings.
- Marketing strategy analysis report – is the analysis that has been carried out on the data collected over the current market. Thus resulting in a report which would lead to a much clear understanding of the market the organization is a part of and competing towards.
- Market report – is the documented report which has been derived from the market study. The report would create a significant milestone for the entire project. The report would also act as historical data that would allow into many strategic steps for future instalments.
- Market analysis – is the data that is derived off the market report. The required analysis would be carried out on the market repost, thus resulting in a market analysis. The deliverable would allow the organization to take precise actions accordingly, keeping the market flow into consideration.
- Social media influence – in the 21st century, social media recognition and influence is an integral part of any organization to reach the masses. Thus the social media marketing phase would lead to precise deliverable. The deliverable in question would significantly help to know the benefits of the social media influence the organization has over the targeted audience. Thus through the several marketing campaigns that would be held for the execution phase of the project, this would be the deliverable which would significantly affect the success of the project.
- Proposed marketing strategy: the new marketing strategy would be devised of the market study and the preceding analysis of the market. The proposed strategy would be the ultimate aim of the entire project. The particular deliverable is mostly set as the long term goal of the project. However the main objective of the project being able to devise a more diverse and an efficient marketing strategy .
- Marketing strategy report – is the generic yet intricate report that has been created, keeping in mind the derived marketing strategy. The new marketing strategy would be implemented. It has to keep track of report to the strategy that is an essential derivable to the project in consideration.
- Internal stakeholder report – is the report that has been created to keep detailed track for effect over the internal stakeholders. The proposed project mainly deals with the internal stakeholders; thus, the report would be precisely based on the internal stakeholders. However, if any external stakeholders are associated with it, the report would also suggest so for better communication of the details to the organization.
- Proposal – is the document that would be given rise to once all the initial steps are created and a prototype of the project is up for a test run. Once the feasibility prospects and other peripherals have been considered the proposal to the whole project would be created. It would be passed on to the higher authority for further examination and approval for the changes that have to be anchored by the organization. (Kliem, 2019) (Harrison, 2017) (Sadgrove, 2016) (Eskerod, 2016) (Robinson, 2018)
Risk Assessment
Any small or big organizations have to face risks during the business. There the different types of risks that arise in a business. Mainly the risks can be classified into two different types. One is internal risks, and the other is External risks (Sadgrove, 2016). The risks in a business or a project depend on the primary subject and objectives of the same. The internal risks come from the internal elements of the project managing organization, which can be controlled by proper risk assessment. The external risks are originated in the external parts of the project, which are not very easy to identify or handle. However, an appropriate and proper risk assessment can reduce the chances of the external risks also.
In this study, a team of 12 members has been selected to analyse the current marketing strategy and propose a project plan for the development of the marketing strategy of the company Buffalo Wild Wings. This is a company of US which started its journey 35 years ago and currently established themselves as a renowned name in the food and beverage business segment.
The external and internal risks are expalined below,
Internal Risk
Internal risks are recognizable and manageable, as discussed earlier. As the internal risks come from the internal elements of the organization or the team to be detected. The primary risks that arise from the internal elements are financial problems of the organization, inadequate resources such as business data and analytical software. For this project, there is a budget problem (Kwon & Kang, 2019). The estimated cost is higher than the budget of the project. The proper system software is needed like Tableau Software, which is missing in the project system. This software has to be implemented in the project. There is no proper knowledge in the employees of how this software is used. Lack of training is another internal risk for this project management program. Some personal issues can have an impact on the project. Some of the key members of the project are unable to be with the team at the initial stage. The manager needs to manage the project by sorting out these issues. Risk management can help the project to be completed within time and as per the requirements. The pre-analysis of an internal risk factor is always helpful. The management of the project can identify the problems like these and can make a way out of the problems.
External Risks
External risks can come from different sources. The external risks are generated from some external sources. Several sources such as governmental policies, political problems, bankruptcy, crime and personal or organizational threats can have a deep impact on the project (Harrison, 2017). In this project management, there are no such external risks factors identified by which the project can be affected. However, the organization, for which the project management is being proposed, is facing some external risks. For this, a proper management strategy has to be implemented by the project management team. There are different types of external risks Buffalo Wild Wings is facing. The primary one is government policy. There are different taxation policies of the government in different states. Some organizational threats also have to face by the company very often. All these are needed to be controlled and sorted out with proper risk management plan.
Plan to Reduce and Eliminate Risks
Risk management is important for any project or organization to achieve the proper goals as per the requirements. All the different risks from internal and external sources can be removed by risk management. All the risks are identified by a proper risk analysis method. The management team processes the project by managing and reducing the chances of the risks for the business. The objective cannot be met without a systematic and structured risk management plan. There are different ways of managing risks. The plan of managing the internal and external risks of this project as well as of Buffalo Wild Wing’s business is discussed in the following sections of the report.
Some internal risks are identified and discussed in the previous section of this study. The project needs proper internal risk management. Firstly, there is a problem with the financial state of the project. The budget for the project is low. As per the estimation, the cost of the project is exceeding the budget. The management of the issue and cost of the project will be reduced. The cost can be reduced by engaging a lower number of team members. The cost can also be reduced by implementing new software and by managing the whole project more compactly.
There are some internal risks of Buffalo Wild Wings. There are some complaints about the food quality of the organization. The food quality has to be improved to have a better marketing impact. Lack of communication among the employees is a problem. The service can be improved by a proper communication plan among the employees. All the employees of the project management task have to be properly trained. The use of software needs to be known by all the team members of the project. Training of 3 days will be provided to the members. As discussed earlier, some of the key members of the team will not be available to be with the team. Other members as per the requirements have been allotted in place of those members. All the internal risks will be managed by these plans, and further plans will be constructed after the approval of the project
There are no external risks in the project management task. However, some external risks are present in the business of Buffalo Wild Wings. The primary risk, as discussed, is the governmental policy. The different advisory body should be placed for different states of business to control the taxation system and make better revenue for the company. The organization has to appoint law experts to handle the threats of other organizations. In this era of globalization, the negative publicity through social media is an external threat for the organization. A strong social media marketing section will be implemented in the business structure to perform positive social media marketing. This can neutralize the negative publicity from rival groups. The internal and external risk factors will be managed and reduced by the strategies discussed in this section. A proper risk management plan is given in the following part of this report.
Impact of Risks on The Project and Organization
Internal and external risks have an impact on the project. Buffalo Wild Wings is a popular name in the market of food and drinks. They have started the business as a beer café and snacks bar. At the present day, they have chains in different states. However, the company has faced different risk factors throughout all these years. With the change of time, changes in the risks and threats have been noticed. As per the current situation, the internal and external risks have been identified. The internal risks such as food quality problems and employee communication problems have a bad impact on the organization. It can produce a negative perspective for the company to the customers. This impact can shorten the target market. The service to the customers is the key to a restaurant organization. There are different types of internal risks for the project, also as discusses in the previous sections. The primary risk is the financial problem. It can have an impact on the time and research quality of the project. As a result, the outcomes will be affected. (Kliem, 2019)
The project members have to perform as per the management plan. The lack of knowledge in using necessary software can hamper the project as well. It has an impact on project time and project quality. There are some issues of employee unavailability in the project team which affects the workflow of the team. There are some external risks of the organization. The primary risk is the governmental policy. There are different taxation policies in different states, as stated earlier. For this, the revenue system and records are being very complex.
Another risk is the external threats from rival organizations or political leaders. This has a bad impact on the organizational environment of Buffalo Wild Wings.
The negative campaigning is affecting the business badly. Customers are manipulated by these social media campaigning, which is driven by rival organizations.
Overall, the internal and external risks have a bad impact on the organization as well as the project. These risks have to be reduced by the mentioned strategies of risk management. All the risks have been identified in this section of the study, and the impacts are clearly noticeable from this portion. It is helpful for the business and the project to know the impacts of the risk factors on them.
Risk Management Plan
The risk mitigation plan is needed for the project. A proposed risk mitigation plan is provided below. Further changes will be made as per the final requirements after the project approval.
| Risks | Probability of Occurrence | Severity of impact | Mitigation |
| Low Budget | 60% | Moderate | Reduce the number of team members Implement software for the proper analysis Structure of the whole work appropriately |
| Lack of communication | 60% | Moderate | Provide proper training to the employees of the Restaurant Implement new work policies |
| Lack of knowledge of Data analyzing software | 90% | Moderate | Provide training for 3days to the members of the project management team |
| External threats | 10% | High | Recruit a few numbers of lawyers and crime management experts in BWW (Buffalo Wild Wings) |
| Government policies | 50% | Moderate | Place different revenue and marketing advisory body for different states of the business chain of BWW |
| Negative marketing by rival companies | 40% | High | Improve the service and food quality of BWW Implement positive marketing through social media Identify the proper target market with the help of marketing experts. |
Contingency Plan
A project must have contingency plans to ensure the accomplishment of the project even after the failure of prime project plans. A sound contingency plan includes the set of activity to deal with the probable project risks and secures the project from disruption of project activities. As this project aims to develop a marketing strategy for the client company, hence this could be affected by,
risks of fluctuation in market rates,
inflation rates,
exchange rates, mismanagement, loss of data, issues in research works, timing issues,
issues of authenticity of data,
performance issues of the team members
The following is the contingency plan for this undertaken project:
| Probable issues | Activity |
| The fluctuation of the exchange rate, inflation | This may lead the research as well as the document of a market report. Market rates could change at any moment; this is a result of different business activities. For this reason, the data collected for research work must contain the dates, and the changes in market rates are to be noted with a date. This will help to analyze the gradual changing of market rates in accordance with time. |
| Loss of data | Cloud computing is to be used. Data must be copied in different devices for optimum security. The soft copies that contain data will be copied in hard disk drives, flash memories and be recorded in the form of hard copies. Moreover, the most accurate and reliable software like MS Excel, Tableau could be used for better data analysis. |
| Performance issues or issues due to the absence of the project team members | A backup team is to be created for the support of the main team lacks to perform. The team members are to be trained regarding the way to conduct survey research, analyses and manage the data and conclude from the researches. |
| Issues in research work due to miscommunication and mismanagement: | The RACI charts are to be produced to ensure that all the team members are conveyed the messages. The research work is to proceed in accordance with the work break down structure. All the activities are to be marked after completion so that the issue of repetition of activity could be avoided. |
| Authenticity and accuracy of data | The data is to be rechecked after collection. The source of the data is to be reexamined to assess the authenticity of the data. |
| Issues related to the timeline | The activities are to be performed in accordance with the Gantt chart. Additional project team members are to be kept to support the team to perform and accomplish the activities on scheduled time. |
Team Identification
| Designation | Name | |
| Project manager (PM) | James Smith | |
| Planner | Michael Smith | |
| Documenter | Robert Smith | |
| Project advisory supervisor | Maria Garcia | |
| Graphics and media concept designer | David Smith | |
| Social media marketing officer | Maria Rodriguez | |
| Public relationship manager | Mary Smith | |
| Sponsor | Maria Hernandez | |
| Stakeholder | James Mathews | |
| Manager | Logan Jones | |
| Team Leader (TL) | William Brown | |
| Team member | James Davis | |
| Team member | Mason Miller. | |
| Team member | Benjamin Wilson | |
| Representative | Roger Muller |
Team Qualification
Qualification of the team members is very important for a project. There are different responsibilities for different types of tasks in a project. Based on the project goals and challenges, a perfect team is selected by the responsible of the project or the higher authorities (Harrison, 2017). This is a project for managing the strategies of the marketing plan of a popular company in the bar and restaurant market. Based on the project, a team of 15 members has been selected. They are Project manager, Planner, Documenter, Project advisory supervisor, Graphics and media concept designer, Social media marketing officer, Public relationship manager, Sponsor, Manager, Team Leader, Representative and three junior team experts or team members. A team for doing this job needs a lot of experience with proper qualification. The combination of these two will lead the project to the desired point of success. As per this job, the qualities for the discussed designations are recorded in this part of the report.
- The required qualification with certification needed for the position of a project manager is CAPM (Certified Associate in Project Management) or PMP (Project Management Professional). The desired experience required is 10 years, and the minimum experience required is 6 years.
- The required qualification with certification needed for the position of project planer is APM (Associate Project Management). The desired experience required is 6 years, and the minimum experience required is 4 years.
- The required qualification with certification needed for the position of Documenter is CPA (Certified Public Accountant). The desired experience required is 5 years, and the minimum experience required is 3 years.
- The required qualification with certification needed for the position of Project advisory supervisor is APM (Associate Project Management). The desired experience required for this post is 3 years, and the minimum experience required is 2 years.
- The required qualification with certification needed for the position Graphics and media concept designer is HNC (Higher National Certificate) in graphic design. The desired experience required for this post is 3 years, and the minimum experience required is 2 years.
- The required qualification with certification needed for the position Social media marketing officer is Bachelors in Project Management. The candidates need to have certified degree on social media marketing strategy and a minimum of 3 years of experience in the relevant field.
- The required qualification with certification needed for the position Public relationship manager is Bachelors in Management. The desired experience required for this post is 5 years, and the minimum experience required is 2 years.
- No academic qualification is applicable to Sponsors. The records of the sponsors are only the factors that are analyzed before the agreement.
- The same is also applicable to the external stakeholders also. Proper business experience will be helpful for the project and the person also.
- The required qualification with certification needed for the position Manager is APM (Associate Project Management). The desired experience required for this post is two years, and the minimum experience required is 1 year
- The team lead is Bachelors in Project Management. The desired experience required for this post is 1 year in the relevant field.
- The required qualification with certification needed for the position Representative is Project Management Certification. The desired experience required for this post is 4 years, and the minimum experience required is 2 years.
- The team members or junior experts have to hold a bachelor’s degree in management and an authorized certification on business analysis. No experience is required for this post. The recruiting company provides training for the freshers after the recruitment process.
As per the policies and norms of the company, the members are selected. The qualification details of the team are provided below.
| Names of the Employees | Qualification | |
| James Smith | CAPM (Certified Associate in Project Management) with 12years of experience | |
| Michael Smith | APM (Associate Project Management) with 10 years’ experience | |
| Robert Smith | CPA (Certified Public Accountant) with 6 years of experience | |
| Maria Garcia | APM (Associate Project Management) with 5 years of experience | |
| David Smith | HNC (Higher National Certificate) in graphic design with 5 years’ experience | |
| Maria Rodriguez | Bachelors in Project Management with 3 years of market experience | |
| Mary Smith | Bachelors in Management with 6 years of experience | |
| Logan Jones | APM (Associate Project Management) with 1-year experience | |
| William Brown | Bachelors in Project Management with 1 years’ experience | |
| James Davis | Bachelor’s degree in management and an authorized certification on business analysis | |
| MasonMiller. | Bachelor’s degree in management and an authorized certification on business analysis | |
| BenjaminWilson | Bachelor’s degree in management and an authorized certification on business analysis | |
| Roger Muller | Project Management Certification with 3 years of experience | |
Project Budget
The research for the project of identifying the crucial marketing strategies would involve the identification of the resources and its respective costs (Carstens, Richardson, & Smith, 2016). The identification of the strategies would help the Buffalo Wild Wings to find out the amount of the user costs. It would help the company to identify the weaknesses and strengths to develop the quality of the organization in the competitive market. The identified key elements that were used in the company to meet the needs and requirements of the customers would help the company to succeed. The resources that helped the company in the previous years would give a clear conception of evaluating its present condition in the recent market (Kwon & Kang, 2019). Identification of the crucial marketing strategies would help the project to maintain its budget in the broader economic climate.
The resources required for the project include Past Reports of Buffalo Wild Wings, Strategy Documents of Different Companies, Online Sources for current trends, Technology and Tools, and Recruitment Process. These resources have been explained below,
Past Reports of Buffalo Wild Wings: The past reports of Buffalo Wild Wings would help the company to find out the implemented strategies that helped the company in the previous years to succeed (Adafin, Rotimi, & Wilkinson, 2016). The estimated cost that was required to develop the quality of the products of Buffalo Wild Wings would be identified from the past reports. The strategies that were used to recruit the employees would also be identified, and the processes of hiring staff would also be recognized. The past reports would turn the collected data into valuable information that can help to make the right decisions at the right time. It would also evaluate the importance of the different stakeholders that would help the Buffalo Wild Wings in the present situation to make an effective project budget.
Strategy Documents of Different Companies: The data about different companies’ strategy documents would be collected to understand the impacts of various strategies (Rosu, Tarba, & Tiriplica, 2018). It would help the managing authority of Buffalo Wild Wings to determine the crucial marketing strategies that would be implemented. The collected information about other companies would help Buffalo Wild Wings to differentiate the impacts of different theories. The estimated costs would also be identified that would help the Buffalo Wild Wings to have a proper idea about strategy implementation (Kwon & Kang, 2019). The strategies documents of different companies would also identify the processes of recruitments of efficient employees as the reports contain various important information about the respective companies.
Online Sources for current trends: surfing online sources would be required for the identification of the current trends (Adafin, Rotimi, & Wilkinson, 2016). Identification of the current trends would help the Buffalo Wild Wings to develop the quality of its products that would meet the needs and the requirements of the customers. The company would make a huge profit by having an effective knowledge about the current trends.
Technology and Tools: Technology and tools would be required for the evaluation of the information and development of the effective work alignment (Rosu, Tarba, & Tiriplica, 2018). The improved technology would help the Buffalo Wild Wings would help to implement updated strategies that would lead the company to the pick point of success. Improved technology would provide the opportunity of developing the business as implemented technology helps the overall performance of an organization.
Recruitment Process: The employees are considered as the most responsible persons behind the success and failure of any business (Adafin, Rotimi, & Wilkinson, 2016). It is essential to recruit efficient and eligible employees in the respective job roles that the duties can be maintained with proficiency. The Buffalo Wild Wings would apply effective methods to recruit eligible and experienced employees to evaluate and develop the work alignment.
| Particulars | Used for | Cost (Expected) |
| Past Reports of Buffalo Wild Wings | Past reports would be used for evaluating the outcomes of the strategy used by the company. | $750-$1250 |
| Strategy Documents of Different Companies | Strategy documents of other companies would be evaluated for understanding the impact of the implementation. | $500-$850 |
| Online Sources for current trends | The online sources would be required for the identification of the current trends. | $150-$250 |
| Technology and Tools | Technology and tools would be required for the evaluation of the information and development of effective work alignment. | $1000-$1250 |
| Recruitment Process | The recruitment process would be required for hiring the right people for the job. | $600-$900 |
Use of Funds
- $750-$1250 would be required to recover the important information from the collected past reports. The required internet, electricity and labour costs have to be provided by the Buffalo Wild Wings to gather all the authentic and essential information. It would help the company to develop the quality of the business.
- $500-$850 would be required to identify the strategy implementation of other companies. It would need some responsible persons to provide information, and they have to be paid.
- $150-$250 would be required to identify the current trends by using the internet. It includes the costs of internet and the responsible person behind it.
Indirect Cost
The costs of Human Labours can be considered as an indirect cost of the company Buffalo Wild Wings as the employees of the company should be paid as per their job roles. The company needs to satisfy its staff by providing them with a good salary package. Besides that, Internet handling charges would also be included in the section of indirect cost (Rosu, Tarba, & Tiriplica, 2018). The recovery of the past reports and other companies’ strategies needs a certain cost that should be provided by the company. The charges of the rights to use the other companies’ strategies would also be included in the indirect cost that would be provided from the Buffalo Wild Wing.
Conclusion
It can be concluded that the research for the project of identifying the crucial marketing strategies had involved the identification of the resources and its respective costs. The resources that were identified helped the company to have a clear conception of evaluating its present condition in the recent market. The resources like Past Reports of Buffalo Wild Wings, Strategy Documents of Different Companies, Online Sources for current trends, Technology and Tools, and Recruitment Process were used. The required costs also had been identified for the used resources and indirect costs were also identified.
The paper includes a project summary that gives a quick look at the project objectives, deliverables, project budget, timeline, project management team, and the probable risks of the project. The project document includes the contingency plan for this undertaken project. A contingency plan is the set of activities designed to support the probable negative circumstances that may arrive in future. The contingency plan for this project is developed through analyzing the risks and determining the impact of risk on the project deliverables. The study depicts that contingency plan plays a vital role to deal with the disruptions on project operations.
The study can be concluded with the numerous objectives of the marketing strategies to influence the market value of Buffalo Wild Wings. The project mainly aimed to fulfil the marketing goals of Buffalo wild wings by influencing the specific marketing strategies. The marketing strategy is the utmost approach to encourage the business value of Buffalo Wild Wings. Marketing strategy included as a beneficial part to increase the potentiality of Buffalo Wild Wings. The proper implementation of marketing strategies helps Buffalo Wild Wings to compete against another restaurant. The project also defines the importance of qualitative methodology to enhance the marketing approach and fulfil the marketing goals of Buffalo Wild Wings. The qualitative research approach includes the interview, survey, observational qualities. It would influence the data collection process and develop the organizational innovativeness in Buffalo wild wings. The qualitative research approach can be considered as the clear concept of marketing as it also provides the logical support to influence the marketing strategies of Buffalo Wild Wings. It will help to develop the marketing value by including various new menus in the restaurant.
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