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Question: Discuss About The Fashion Management Conference At Florence? Answer: Introduction The report is based on the introduction of a new product for the brand Subway. The different factors that will be analysed in the report are the strategy of the product which includes, branding, packaging, quality, labelling, product mix and the services will be provided. The pricing of the new product will also be discussed and the way by which this influences the sales will be analysed. The promotional mix of the new product will be discussed in detail in the report. The people who are related to the introduction of this product and the processes related to this are the marketing part of this analysis. Subway is a franchise of fast food based restaurants that its origin in America and the primary products of the organization are, salads and submarine sandwiches. The organization was founded in the year 1965 (Subway.com 2018). Summary of Assignment Part A The part A of the assignment is related to the analysis of fast food industry and explaining the strengths, weaknesses of the industry. The industry is analysed based on the SWOT framework. The behaviour of the consumers are also analysed in the previous assignment. The other factors that are analysed in the report are the decision-making process of the buyers and the market segmentation based on the customers of the fast-food industry (Huang and Sarigll 2014). (Refer to Appendix 1) Marketing Mix The product that is being introduced in Subway is ice-cream. Ice-cream is such a product which is still not available in the stores. The marketing mix is comprised of the description of the product, the price of the product, promotional activities related to the product and the place where it is introduced. Product Life Cycle The product life cycle comprises of four stages which include, introduction, growth, maturity and decline. The ice-cream that is introduced by Subway is named as Subway Big Ice Surprise. The product is in the introduction stage as it is being launched by the brand in the management. The other stages of product life cycle cannot be linked with the new product of the brand (Liu et al. 2017). (Refer to Appendix 6) Branding The product is named as Subway Big Ice Surprise. The awareness of the brand can be spread among the customers with the help of digital marketing and through the website of the company. Packaging The packaging of the product will be done in small bio-degradable food cups and edible preservatives will also be added so that these products can be stored for a longer time. The ice-cream will be served in the outlets of Subway in Australia. (Refer to Appendix 4) Labelling Labelling acts as the major factor for any new product that is being launched in the market. The label of Subway Big Ice Surprise will denote the policy of the organization to serve natural and healthy products (Bahadir, Bharadwaj and Srivastava 2015). Quality The quality of the cups in which ice-cream will be served will be of bio-degradable quality so that it does not affect the environment and also provides healthy options of ice-creams for the customers. (Refer to Appendix 3) Product Mix (Depth or Width) Product mix can also be called the product portfolio. The product mix consists of the product line and the type of the product. The availability of the different types of the same product helps in deciding the depth of the product mix. The ice-creams will be available in different natural and organic flavours which include, coconut, mango, orange, strawberry, chocolate, coffee-walnut and many more (Hanssens et al. 2014). (Refer to Appendix 5) Augmented Services The services that are offered by any organization other than the physical product are known as the augmented services. Augmented services are related to the marketing as well as promotional activities of the operations. Subway will conduct the promotional activities with the help of the website and in the stores as well. Pricing Strategy The pricing of the ice-cream will be set at 2 Australian dollars. The prices differ with the changes in flavour from 2 Australian dollars to 5 Australian dollars. Strategy The pricing strategy is based on the availability of the products and the seasonal fruits as well. The other factors affecting the prices are uniqueness of the products and health benefits. Influences The pricing strategy of the product is mainly influenced by the external environment and unavailability of the product in the other stores of the same industry (Aras et al. 2017). Promotional Mix Promotional mix can be defined as the mix of the promotional variables that are chosen by the marketing professionals of the organization so that they can achieve their goals. (Refer to Appendix 2) IMC Integrated marketing communication is related to the use of the marketing strategies so that the communication can be optimised and the message can be sent to the stakeholders of the brand. IMC is mainly related to the recognition of the boundaries related to the promotional mix. The communication of subway is done with the help of the website of the company and the promotional activities in the stores. Objectives and Strategy The objectives of the Subway are, to provide healthy food options, to target the young group of customers and to keep the food as fresh as possible. The strategy of the organization is mainly related to the offering of high-quality food to the consumers. The major goal is to provide healthy and tasty options of food (Aghaei et al. 2014). People The people or the target customers of the organization are mainly the young population of the country who are health conscious and are looking healthy options in ice-creams. Process The process of marketing related to Subway is done with the help of the website of the organization. The other process of promotion is related to the distribution of flyers to the customers who visit the stores of Subway (Jin, Kim and Kim 2015). Physical Evidence The physical evidence is related to the people or the customers who consume the products or services offered by the organization. The consumers in this case are the target group of the organization who are the young population of the country (Hisrich and Ramadani 2017). Place The place of the marketing activities of Subway is in Sydney, Australia. The consumers of this area are already related to the organization as they already have their stores here. The promotional activities will be easier for Subway in this area as they already know the market and their needs. Intensity The intensity of coverage of the market and the promotional activities is related to the distribution of the products in the market and the target customers. The main aim of Subway is to start the supply of ice-cream in all the stores which are operating in Australia. The different strategies related to the distribution of products are, intensive distribution, exclusive distribution and selective distribution (Khan 2014). Strategy The strategy that is undertaken for the promotional activities is to depict the product in such a way so that it supports the objective of Subway to offer products which are related to health benefits. Recommendation Subway is recommended to use the promotional activities in such a way so that the consumers can understand the health benefits of the products. The ice-cream is prepared in an organic manner and the cups are also bio-degradable in nature. This enables the organization in operating in a sustainable manner. The sustainable operation of Subway will contribute in the success of the newly launched product. References Aghaei, M., Vahedi, E., Kahreh, M.S. and Pirooz, M., 2014. An examination of the relationship between services marketing mix and brand equity dimensions.Procedia-Social and Behavioral Sciences,109, pp.865-869. Aras, M., Syam, H., Jasruddin, J., Akib, H. and Haris, H., 2017, July. The Effect of Service Marketing Mix on Consumer Decision Making. InInternational Conference on Education, Science, Art and Technology(pp. 108-112). Bahadir, S.C., Bharadwaj, S.G. and Srivastava, R.K., 2015. Marketing mix and brand sales in global markets: Examining the contingent role of country-market characteristics.Journal of International Business Studies,46(5), pp.596-619. Hanssens, D.M., Pauwels, K.H., Srinivasan, S., Vanhuele, M. and Yildirim, G., 2014. Consumer attitude metrics for guiding marketing mix decisions.Marketing Science,33(4), pp.534-550. Hisrich, R.D. and Ramadani, V., 2017. Entrepreneurial Marketing Mix. InEffective Entrepreneurial Management(pp. 75-99). Springer International Publishing. Huang, R. and Sarigll, E., 2014. How brand awareness relates to market outcome, brand equity, and the marketing mix. InFashion Branding and Consumer Behaviors(pp. 113-132). Springer New York. Jin, N., Kim, J. and Kim, K.H., 2015, June. THE SERVICE MARKETING MIX EFFECT ON CUSTOMER EXPERIENCE AND CUSTOMER EQUITY IN THE SERVICE INDUSTRY. In2015 Global Fashion Management Conference at Florence(pp. 838-844). Khan, M.T., 2014. The concept of'marketing mix'and its elements (a conceptual review paper).International journal of information, business and management,6(2), p.95. Liu, Y., Li, K.J., Chen, H. and Balachander, S., 2017. The Effects of Products Aesthetic Design on Demand and Marketing-Mix Effectiveness: The Role of Segment Prototypicality and Brand Consistency.Journal of Marketing,81(1), pp.83-102. Subway.com (2018). [online] Available at: https://www.subway.com/en-au [Accessed 17 Jan. 2018].