7-Eleven Company Essay

The OpportunitiesLike many opposites companies, 7-Eleven also has conduct of opportunities. The hazard in this family is bracing solid food provided. Every morning, fresh meal allow be available at 7-Eleven hive away for people to take absent and get a quick breakfast. (Paradise, 2014) Next, the appearance of freebies and discounts is also opportunity in this federation. entailments argon gives depends on what its business partners offer. Sometimes when it comes to certain seasons, 7-Eleven pull up stakes has it confess attraction as it is giving out freebies to customer when they purchase certain amount. It is because the new trend is increasing among the customers that they the like freebies and discounts. Even it is not what they have it or whether they want to use these freebies after, they still want to have it. (Paradise, 2014) Besides, the opportunity in this play along is not many genial set ups open 24 hours a day and 7 days a week. Therefore, 7-Eleven is o ne of the store that people send packing stop by in the middle of the shadow only to get whatever they need. (Paradise, 2014)COMPETITOR ANALYSIS99 Speedmart7-ElevenKK grocery storeNumber of outlets nationwide450 Outlets nationwide1,497 Outlets nationwide62 Outlets nationwide Operating hours10 a.m. 10 p.m.24 Hours 24 Hours Products availableGroceries & freshmartGroceries, fresh foods, cash machine and photocopying proceedss.Groceries, fresh foods, ATM and photocopying services. Benefits to customerTrolley providedPoints by business partnersNone Freebies and DiscountNoneFreebies based on seasons & Discount depends on business partnersNone99 Speedmart is a rapid growing handy store chain which was founded in 1987 by Mr. Lee Thiam Wah who is the director of the company itself. More than 450 outlets nationwide, 99 Speedmart keep expanding the business andalso struggling to be top in the commercialize. 99 Speedmart also provides same product like 7-Eleven only without services lik e ATM machine and also bills payment. 99 Speedmart provides trolley services for its customers. (99 Speedmart, 2014) While another competitor is KK Mart which is on a lower floor KK Group founded in year 2001, comes with the desire of becoming a place name throughout Malaysia and beyond the shores. Founded by Dato Dr Chai Kee Kan also known as KK Chai, KK Mart has over 62 outlets nationwide and keeps expanding.KK Mart also operates 24 hours terrestrial which make it a good competitor to 7-Eleven. (KK Group, 2014) From the table above, we sack compargon how good is each of the convenient store. 7-Eleven is considered as the best and stronger convenient store company in the market. 7-Eleven has the most outlets nationwide which makes it is the easiest to find by customers anywhere they are. Besides 7-Eleven operates 24 hours which in case of emergency it crumb be very useful to customers. Futher more(prenominal)(prenominal), 7-Eleven sells products and even services which make it has lot of variety to customers. Even when customers purchase products at 7-Eleven, they can get points when they are the member of 7-Elevens business partners. Lastly, 7-Eleven do provides discounts and freebies based on offerings and seasons. trade MIXMarketing mix means focus on the product, pricing, placement, promotion, people, litigate and physical evidence. Marketing strategies consist customer orientation, input, and accessibility in the skin to the be the leader of the market. After the business manage to find the refer factor, analyzed the market, target segment and understanding the demands, every business or every company necessarily to come up with formula to revivify the growth and progress of the company. For which 7-Eleven uses 7Ps of marketing mix such(prenominal) as Product Price Place Promotion state Process somatic usherProduct StrategiesEvery day, products available only at 7-Eleven sire millions of loyal customers through certificationes doors. A l eader in bringing fresh occurrences into the convenience space, 7-Eleven put ups fresh sandwiches, salads, fruits and pastries daily. 7-Eleven also has a full line of 7-Select clannish label products, which offer customers food items they love at low everyday expenses. And of course, no one can forget about 7-Elevens legendary, iconic products, like the Slurpee drink, Big Gulp drink and famous burnt umber.When buying products, 7-Eleven aims to be the first to have great new items, get the best products in the category, be the only retailer to carry certain products 7-Eleven has new item introductions weekly, and continuously reinvests in product development.Vast Buying Power, Great Margins7-Eleven buys for more than 6,700 stores in the U.S. alone. This buying power alleviates 7-Eleven negotiate favorable pricing and scathe that let licen acquires offer products to customers at great scathes while retaining maximum profits margins. ( dealership.7-eleven.com,2014)Pricing St rategiesConvenient stores compete with each other in coffee price, fountain drinks price, and other private-owned products price. Prices for items that the stores buy from vendors are not significantly dissimilar. payable to it is the top company, 7-eleven prices its private label products relatively high compare to other convenient stores. In addition, the company has the potential to set high price for the items that other convenient stores do not carry. (klse.i3investor.2014)Placement Strategies7-Eleven pioneered the convenience store in 1927 at Southland Ice Company in Dallas, Texas. In 1954, the company opened a store outside of the state of Texas. 7-Eleven then spread out internationally when it opened stores in Mexico in 1971. In the same year, the company targeted England and Scotland as its first entry in European market. Three long time later, 7-Eleven opened the first store in Japan. Then after geezerhood of growing its stores internationally, 7-Eleven international o pen its 25,000th store in 2006. In 2009, 7-Eleven has more than 35,000 stores in at least 18 countries worldwide, with its largest market in Japan, the unite States, Canada, Philippines, Hong Kong, Taiwan, and Thailand (businesstoday, 2014)Promotion schemeRecently, 7-Eleven takeed to add a bonus for everyone entering the 7-Eleven daytime crying win game on the Slurpee website. After entering the instant win game, they go out receive a code and website link to urchase $7.11 lawn tickets for concerts at select Live Nation venues across the country. In addition, 7-Eleven made collectable slurpee cups and slurpee straws featuring Domo & quot the fuzzy brown creature with a trademark enigmatic open-mouth contemplation that is taking 7-Eleven store by storm this fall & quot.7-elevent also Domo-nized its food and beverages, such as the Big Bite and hot dog. Energy drink. chief executive officer Rich Collins of Big Tent Entertainment, the marketing and licensing company for Domo, cm mented & quot because Domo has such a hugely devoted, cult-like following among kids, teens and young adults, we believe hes a perfect match for 7-Eleven and its iconic Slurpee brand & quot (afrbiz.2014).People dodgingPeople are an essential ingredient in service purvey recruiting and training the right staff is prayd to create a belligerent advantage. Customers make judgments about service provision and delivery based on the people representing your disposal. This is because people are one of the few elements of the service that customers can see and interact with. The praise get by the volunteers (games makers) for the London 2012Olympics and Paralympics demonstrates the justly effect people can create during service delivery. Staff require appropriate interpersonal skills, aptititude, and service knowledge in order to deliver a quality service. In the UK many organisations apply for the Investors in People Accreditation to demonstrate that they train their staff to prescri bed standards and best practices.http//www.learnmarketing.net/servicemarketingmix.htmProcess StrategyBecause of the 7-Eleven license cost, many small business owners need to look for help with funding. Many companies dont offer financial backing. Instead, they may recommend a company already familiar with its business practices to help you gain the financing you need to initiate your franchise application. This company does offer new franchise owners financing up to 65 percent. This financing covers only the initial franchise fee.As you complete your independent research, youll be able to determine if the 7-Eleven franchise cost is worth the risk. Meet with your personal financial adviser to see if youre financially able to make this large of an investment. Once you start the application process, it doesnt take long before your store will be up and running. In fact, the company says it can take little than 120 days to move through the nine-step application process. (business.answ er.2014)Physical Evidence StrategyPhysical evidence is about where the service is being delivered from. It is oddly relevant to retailers operating out of shops. This element of the marketing mix will distinguish a company from its competitors. Physical evidence can be used to charge a premium price for a service and establish a positive experience. For example all hotels provide a bed to sleep on but one of the things affecting the price charged, is the condition of the room (physical evidence) holding the bed.Customers will make judgments about the organisation based on the physical evidence. For example if you walk into a eatery you expect a clean and friendly environment, if the restaurant is smelly or dirty, customers are likely to walk out. This is before they have even received the service. http//www.learnmarketing.net/servicemarketingmix.htmCONCLUSIONMarketing strategies applied by 7-Eleven clearly gives the all the data that is necessary for the growth and development of a business The strategies that are apply by 7-Eleven consist many basic essentials features like innovative ideas, market research, customers views, forecasting consumers demand, organizing and planning. In this modern world, the demand for goods such as groceries are increasing at an alarming rate because it is a daily needs products that customers will always buy and buy everyday. Most of the companies carry different types of marketing strategies in order to serve their customers in a more efficient and better ways than their competitors as they want their business to be stable in the market and can survive for such a long term.Reference addressable at http//www.7eleven.com.my/html/default.aspx?ID=2&pelvic inflammatory disease=12 Accessed 17 family2014.Available at http//www.99speedmart.com.my/history.htmAccessed 17 kinsfolk 2014.Available at http//kkgroup.my/KKGroup/Accessed 18 September 2014.Available at http//www.managementparadise.com/forums/principles-management-p-o-m/2080 76-swot-analysis-7-eleven.html Accessed 20 September 2014.Available at http//franchise.7-eleven.com/franchise/product-strategy Accessed 21September 2014Available at http//klse.i3investor.com/blogs/ipo/52090.jsp Accessed 22 September 2014Available at http//businesstoday.intoday.in/story/london-business-school-case-study-on-7-eleven/1/194769.html Accessed 22 September 2014Available at http//www.afrbiz.com.au/case-studies/7-eleven-revitalising-the-slurpee-brand/Page-6.html Accessed 22 September 2014Available at http//business.answers.com/franchise/exploring-the-7-eleven-franchise-process Accessed 22 September 2014