Mkt445 - Identify your selected organization and the industry in which it exists
P.F. Chang’s China Bistro Incorporated is the parent company of its
two concepts, P.F. Chang’s China Bistro and Pei Wei Asian Diner. Their
more successful concept, P.F. Chang’s China Bistro, is a premium casual
Chinese restaurant that opts to deliver quality American influenced
Chinese cuisine.
Mkt 445 -
Both sister concepts falls under the category of the food and beverage
industry. The first P.F. Chang’s location was opened in Scottsdale,
Arizona in 1993. Since then, the company has successfully opened over
200 locations worldwide. P.F. Chang’s is currently focusing on
expanding their international locations.
Iscom373
- The Puerto Rico location is the next international opening and is due
within months. The company is also contracted to open five locations
in the Philippines, with their first store opening in the beginning of
2012 in the Manila.
Describe how each one of the four elements of the marketing mix affects
the development of the organization’s marketing strategy and tactics
Iscom 373
- The four elements of the marketing mix are price, product, promotion
and place. These are also known as the Four P’s of marketing, “a
useful short hand reference to them first used by published by Professor
E. Jerome McCarthy” (Kerin & Hartely, p.12). The four elements
are interrelated, for example a promotion may include a change in price.
Mkt 445