Wendy’s Marketing Mix (4Ps) Analysis

Wendy’s marketing mix (4P) supports business growth in the international hamburger fast-food market. This marketing mix defines the strategies and tactics that the company uses to implement its marketing plan and indicates how the foodservice business relates to its target market. These 4Ps align with long-term strategic goals based on Wendy’s mission statement and vision statement for success in the global market. This marketing mix is the company’s approach to the dynamics of the fast-food industry. This approach changes according to trends in the foodservice market. Wendy’s responses to market trends are integrated into this marketing mix.

Wendy’s marketing mix shows traditional approaches to reach target customers in various markets worldwide, as well as new approaches involving information technology. This marketing mix and the associated marketing strategy depend on the effective use of the company’s brand and other business strengths defined in the SWOT analysis of Wendy’s.

Wendy’s Products

Wendy’s is known for hamburgers. However, the company’s product mix includes many other offers. In this component of the marketing mix, organizational outputs for consumers are considered. The following are Wendy’s products:

1. Hamburgers
2. Chicken
3. Sides
4. Salads
5. Baked goods
6. Breakfast and others
7. Beverages
8. Desserts

While hamburgers are the main product line, Wendy’s offers other products to complete the customer experience. For example, with hamburgers, sides, salads, beverages, and desserts, customers can enjoy a full meal. This marketing mix involves standardization of products, which supports economies of scale and other business competencies for the restaurant chain. The types and qualities of drinks and food products included in this marketing mix are occasionally adjusted to match industry factors, such as the social trends outlined in the PESTLE/PESTEL analysis of Wendy’s.

Place in Wendy’s Marketing Mix

The company completes most of its transactions at its restaurants. This component of the marketing mix identifies the places, locations, or venues through which the restaurant business reaches and transacts with its customers. Considering its distribution strategy, Wendy’s uses the following places:

1. Restaurants
2. Kiosks
3. Websites
4. Mobile app

Wendy’s generates most of its revenues at its restaurants, including company-owned and franchised locations. However, the company also occasionally uses kiosks, such as those located in malls and venues of special events. Customers can also place their orders for food and drinks through the company’s websites. In addition, the company allows customers to access its menu and special deals through the Wendy’s mobile app. This marketing mix shows that the company relies on restaurants to support business growth. The corporate departments and divisions of Wendy’s company structure (business structure) give management support for the locations in this marketing mix.

Wendy’s Promotion

Wendy’s promotes its products through a variety of strategies and tactics. This component of the marketing mix presents the communication strategies and tactics included in the company’s promotional mix for reaching its target consumers. The following are used in Wendy’s promotion:

1. Advertising (main marketing communication)
2. Personal selling
3. Sales promotion
4. Public relations

Advertising is Wendy’s primary way of promoting its business and products. The company advertises its products through print media, television, and online media. The foodservice business also uses personal selling to communicate with customers. For example, restaurant personnel usually encourage customers to order more products, such as desserts or sides. Wendy’s applies sales promotion in the form of short-term special offers and discounts. Moreover, public relations promote the restaurant chain and its food and beverage products, such as when the company sponsors special community events to make the brand more popular. Wendy’s ESG and CSR programs and stakeholder management also promote the business and add to public relations efforts in this marketing mix. Thus, Wendy’s addresses this component of the marketing mix mostly through advertising and personal selling, which are significant determinants of the company’s revenues.

Price in Wendy’s 4P

Wendy’s price points and price ranges are similar to those of other fast-food restaurant chains. This component of the marketing mix identifies the company’s strategies for setting prices for its menu items. Wendy’s applies the following pricing strategies:

1. Market-oriented pricing strategy
2. Product bundle pricing strategy

Wendy’s main pricing strategy is market oriented. This pricing strategy reflects the conditions of the food and beverage market and the competitive landscape. For example, changes in demand and supply are used to adjust the prices of the company’s menu items. On the other hand, the product bundle pricing strategy involves offering products in groups (e.g., combo meals), usually at discounted prices compared to purchasing products individually. Through these pricing strategies, Wendy’s marketing mix enables attractive prices against competitors, including fast-food chains, like McDonald’s, Burger King, and Subway, as well as coffeehouse chains, like Starbucks. These pricing strategies reflect Wendy’s generic competitive strategies and intensive growth strategies, which aim for business development based on opportunities in a highly competitive and saturated market.

References

• Eze, F. J., Inyang, I. B., & James, E. E. (2024). Standardization versus adaptation of marketing mix in international markets: A systematic literature review. World Journal of Advanced Research and Reviews, 22(2), 1192-1212.
• Mobarak, N. M., Nassar, M. A., & Omar Barakat, M. (2024). Cause-related marketing and its impact on brand image and loyalty: Evidence from international fast-food chains. Journal of Foodservice Business Research, 27(4), 383-408.
• Pimentel, P. C., Bassi-Suter, M., & Didonet, S. R. (2024). Brand activism as a marketing strategy: An integrative framework and research agenda. Journal of Brand Management, 31(2), 212-234.
• The Wendy’s Company – Form 10-K.
• The Wendy’s Company – Menu.