4 Finger company in Singapore - Analysis Paper Example

4 fingers (4 fingers crispy chicken) is a corporation originated from Singapore chain of fast casual restaurants that deals with crispy Korean-style fried chicken. Founded in 2009, it currently has numerous stores across the region. It was established when four friends tried Korean-style chicken in New York then carried the idea to Singapore. The recipe, bet Asian crispy, a spicy chicken was perfected, and the brand is very popular since then. From a single store in ION Orchard Mall in 2009, the brand has expanded significantly. The current CEO Steen Puggaard joined in 2014, which recognized its potential and jumped at the opportunity. He facilitates the change of ownership, and since them, 4 fingers has recorded an ambiguous growth, from a single outlet to a fast casual chain with several branches in Singapore, a franchise store in Indonesia and others in Malaysia under Steens management.

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The company aims to eradicate processed foods in the market and at the same time kill the competition by providing remarkable service to the client. The stores at ION is categorized with long queues, and this is because most of the time there is only one cashier to serve and the service is too slow, although people will still stay to get the crispy chicken. The chicken is cooked to render out the fat, making it crunchy, and flavored skin. The store features 6pieces of wings and drumettes, double-fried, hand painted with a soy garlic glaze, and served with a side of fries; one chooses to have it served spicy. The store has numerous graffiti painted on its walls which also apparent in their website.

Introduction

4 fingers have a long-term strategy of reaching out and expanding to international markets that are highly competitive, that brings significant growth to the company. Therefore its target on the long run vision, with its current CEO, it has continuously strengthened the foundation regarding the organization, infrastructure, and resources required to achieve the objectives. The company is nurturing a great company culture, essential to keeping up the speed and momentum the company was built on. They hugely focus on customer satisfaction and growing market share and profit. It is important to project is to clearly articulate the brand's DNA (BIG idea), to ensure that the brand is strong enough as it grows.

These features are apparent in the companys marketing strategy; the store has developed a marketing position in providing the best of the Asian crispy chicken. Like how one of the clients describes it, The chicken though, felt like they went for an extended sun-tan session, and was dry and shriveled. 4 fingers web site is decorated with numerous graffiti and attractive display of their products. They also offer food deliveries via food panda, a food distribution company. This does not come short of the numerous promotions they have especially to students a $2 off selected items from Monday to Friday. Another attractive development is the offer on combo meals Exclusively for DBS/POSB cards. The website is detailed but precise, structured in an interesting way that any client can easily maneuver despite their digital literacy level. They also offer vivid details on all their store's locations, with Google maps. The company has active social media accounts on both Facebook and Twitter.

Digital Marketing Strategies

This is a strategy of marketing products or services using digital channels to reach consumers. The key objective is to promote the brand using different forms of digital media. It goes beyond internet marketing to include channels such SMS that does not require the internet. The channels include mobile phones, display advertising, search engine marketing, and social media marketing among other forms of digital media. Failure to manage the strategies correctly; the following will happen, the consumer demand will be underestimated, existing or start-up companies will gain advantage, a lot of cash will be used for e-marketing thus wastage since the strategy is not well implemented and insufficient consumer data, therefore, the clients will be underserved, just to name a few CITATION Edm15 \l 1033 (Edmiston, 2015).

Commitment-trust theory is a theory that describes the establishments of commitment and trust between the buyer and the seller CITATION Fal10 \l 1033 (Falkenreck, 2010). This relationship involves forming a bond with consumers by fulfilling their needs and respecting commitments. This strategy enables both the parties to continue meeting their needs, the clients gets things that they have paid for and additionally feel valued. The business in return takes customer loyalty, which saves the company a huge sum of money. Therefore using this theory, 4 fingers Company has established a strong consumer base, they have gone ahead of their competitors and created a brand for themselves. According to several blog post that features the company, it is apparent that their digital marketing goal firmly, the blog was praising the name for their products, it hard for one to ignore their delicious chicken. Their principal goal is to provide their clients with the best Asian crispy chicken.

Creating a market funnel is essential for the success of any brand in the digital media. They have achieved this by mapping out the customers journey from when they are new to the point where they have become the lead, besides they have also placed strategies that encourage the clients to follow through the tunnel. These strategies as such as lead magnets, calls to action, opt-ins and offer are essential segments of a funnel that the brand has managed to implement most of it. The components of the tunnel are awareness, interest, desire and action. 4 Fingers clients are well made aware of their products and service. The company has used lead magnet strategy to drive their consumers to their social media accounts and interact with them; in return, they will receive promotional offers that are occasionally varied, according to Facebook reviews, they are very responsive to messages, on Instagram they developed #gimme4fingers (over 5000 posts tagged). The brand has popularized the most ordered meals, which also acts as their trademark on their website, therefore showing the clients that they have their best interest at heart. Similarly, they have products are displayed in an attractive manner with bright pictures and big enough for any person to see the details.

Creating a deep desire in their customers interest has been well implemented. The food is described into precise details and in an attractive manner, that almost everyone can guess that their primary target audience is young adults. The website is made of beautiful graffiti that most people can spend much of their time scrolling through at the preciseness and the beauty of the display. Finally, the action taken is very attractive to the customers. Their prices are well detailed and their promotions. They have deliveries upon any order. Considering that students are their primary target audience, they have to students on any order combo meals (listed on their website) from Monday to Friday. Several methods of payment are accepted including an offer on DBS/POSB cards. Lurking through their social media such as Instagram, the account is very active, and they offer their clients a chance to celebrate occasions such as the recent Mother's day by sharing snapshots via social media. These strategies have enabled the brand to optimize their digital marketing strategy in such a way that it draws traffic to their website, increases sales and reputation of the company hence giving them an advantage over their competitors CITATION Iso09 \l 1033 (Isoraite, 2009).

Macro and Micro-Environment

Microenvironment also referred to as the operating environment of an organization. These factors shape the immediate trading environment; they are the customers who need satisfaction, along with competitors, intermediaries, and suppliers. If any organization is to develop an efficient digital marketing strategy, they must be keen on these actors. The macro environment is the remote environment; this environment has five key forces that drive the business success. In the macro environment, the marketplace is yonder immediate control of an organization. These factors are such as international forces (economic factors, legal constraints, and cultural factors), society (public opinion, moral restrictions, and ethical constraints), and country-specific (economic factors, legal constraints and cultural factors) and finally technology (innovation and trends) CITATION Clo15 \l 1033 (Clow & Baack, 2015).

All businesses are oriented or centered on the customers. The marketing plan is always and should target to attract the consumers to the brand and retain them by meeting their wants and needs. 4 fingers fundamental business philosophies revolve around what the customer proposes, thus providing the customers with a great and memorable experience. In their microenvironment, the brand aims to distinguish itself from the competitors by disrupting and redefining expectations the consumer can, and rightfully should have to the quality of food and the experience that is offered in quick service and fast casual segments of food and beverages industry. For the employees to provide quality service 4 Fingers employees staff with relevant skills and experience after that empowers them to maximize their potential via training and promotion opportunities. Training and development play a fundamental role in ensuring that they achieve a competitive edge in the market, especially while serving the customers, can significantly determine if the client will come back or not.

The most successful businesses such as McDonalds or Toyota have a very precise and useful way of dealing with their suppliers. The suppliers always deliver quality and its time; as Toyota's slogan goes, "Just in Time." A provider's behavior can directly affect the business supplies, therefore if he/she delivers low quality, it will affect the products quality. If the raw materials prices go up that translate to an effect on the companys marketing mix strategy, thus leading to an increase in the prices, this closes their competitive gap. 4 Fingers have consistently maintained their prices and quality as well; this shows that their relationship with suppliers is tight since the brand is large, with many tributaries, therefore, a good supplier relationship is what keeps them expanding among many another factor. 4 fingers have the edge over their competitors as it is apparent with their vast expansion over a short period, by fulfilling consumer expectations. Having beaten the regional competition the brand wants to join the international markets that are highly competitive but will drive the business growth high, besides they also intend to join other big and matured Western markets. The company has intermediaries that help it sell on the internet, such as it social media account and other affiliates i.e. food panda. Therefore it keeps a constant watch over the web trends that are ever changing and evolving micro web environment.

The highly publicized Edward Snowden incident in 2013 is credited with the rising number of people who do not allow cookies to act on their server to increase. The event caused a huge debate over data and privacy among internet users, the people unwillingness to sharing data with companies is apparent now. Such trends affect digital marketing significantly since they are mostly unexpected and leaves an enormous impact on the market. Therefore, marketers should clearly evaluate these forces while making decisions. The macro environment has a wave of change, new government policies changes every day, pop culture, while in a...