In Sports & Entertainment Marketing class today, we were introduced to the 4 Ps of Marketing: Product, Price, Place, and Promotion. We then watched a short video about Wahoo's Fish Tacos and the 3 brothers who started this sucessful business. Today, we also must answer the following questions and describe how they integrate of 4 Ps of Marketing.
Questions:
1. How did giving food away help make Wahoo’s a successful business?
2. Explain Wahoo’s ten-second rule and how it has helped the company become and remain successful.
3. Why does Wahoo’s promote managers from within the company?
4. Define how Wahoo’s blends the 4P’s of the Marketing Mix. Why is this mix successful?
My Answers:
1. One of the brothers said that they either collected full price for the food or simply gave it away for free.
This got the attention of the public and helped Wahoo's market their product better.
2. In the video, the fourth partner explained that "Ten seconds is the maximum amount of time a customer will stand in front of the register before somebody approaches them. Ten seconds is the maximum amount of time that the cook will look at a ticket that comes into the line and know exactly what needs to happen." This definitely speeds up the time for the food to actually reach the customer which then makes the customers happy.
3. Wahoo's Fish Tacos promote from inside their company because they know that the employee who is getting promoted will gain the respect of the other employees beneath them. Also, the brothers knew that the promoted employee knew how to run everything in the restaurant and would ensure efficiency.
4. The large amount of food that Wahoo's provides is cheap for customers and is promoted successfully one of the brothers and the surfing, skiing, and other extreme sporting feel to the restaurant. This works because the people who go there like that tone in the restaurant and are happy about the healthy food.