Marketing Management Assignment
Considering the Famous Brands Group, with its vast variety of brands, how do you think the group would write its mission statement? How would you write it?
Famous Brands mission statement indicates that the firm’s business is focused on the growth and development of the best in class food service franchise that maximises stakeholder value creation. It cares and values people, customers, quality, brands, innovation and winning. (pg 76)
A clear firm mission begins with drafting a formal mission statement which should be market oriented, realistic, specific, motivating and consistent with the market environment. (pg 73)
Identify and justify the marketing management philosophies guiding Famous Brands.
Famous Brands believes that success stems from its well-positioned brands that easily attract the emerging middle market. Famous Brands has ensured that the brand is available, accessible and affordable to the emerging market. Availability, accessibility and affordability are the three A’s that have underpinned the strategic intent of the business. In conjunction with the three A’s and its well known, good quality food, Famous Brands has the perfect winning recipe for its business. (pg 76)
Famous Brands philosophy has always been that we will acquire a business which is best in its class or we can make it best in its class”. Famous Brands posses a very high performance culture and it is driven by the fact that they utilize tools that makes them a performance driven organisation. Famous Brands firmly believes in brand stewardship, whereby a champion is allocated the task to look after the brand and strategic structures are put in place to make sure that the person eat, sleep, and drinks the brand. Famous Brands also exclaimed that it is imperative to adhere to the systems and processes and non-compliance by franchisees are non-negotiable. Every one of Famous Brands, brands has an operations...