Exercise 1 - Market Research (0136857 Jananee)

 The smartphone brands (Apple) USP & The fast food industry's USP

1. What is a USP?

Ans: USP stands for Unique Selling Point or Unique Selling Proposition. It's a marketing concept that differentiates a brand/product from its competitors.

2. What are the key elements that make up Apple's USP?

Ans: The key element in Apple's USP are the innovation, the design, and the brand loyalty.

3. What makes Apple different from its competitors?

Ans: Apple stands out because of its sleek design, unique user experience and the ecosystem it has built for itself.

4. What ways does Apple's brand contribute to its USP?

Ans: Again, Apple's brand image embodies innovation, premium quality, and maintain a loyal customer base.

5. How important is Apple's design for its USP?

Ans: The design of Apple plays a big role in being appealing to customers. It combines both aesthetics and functionality to provide a design that would make anyone feel luxurious.

6. What role does innovation play in Apple's USP?

Ans: Continuous technological improvements show that Apple is pushing boundaries with its new products.

7. How does Apple maintain its customer loyalty through its USP?

Ans: The high quality products and high end customer service keeps customers returning and wanting more.

8. What type of marketing strategies Apple use to reinforce its USP?

Ans: They focus on the simplicity side of things, minimalistic advertising and product innovation.

9. How significant is Apple's emphasis on privacy and security in its USP?

Ans: There is a strong emphasis on privacy and security, which appeals to security conscious customers who want to feel safe.

10. In what ways do Apple's software and services contribute to their USP?

Ans: They have IOS, macOS, and services like iCloud and Apple music, that add value to their USP.

11. How does Apple leverage its supply chain to support its USP?

Ans: It's efficient as it allows for high quality production and timely releases.

12. What pricing strategy does Apple follow?

Ans: Premium pricing shows how good quality of a product they are and how exclusive it is.

13. How does Apple take advantage of partnerships and collaborations to enhance its USP?

Ans: By collaborating and partnering with other tech companies, it allows to expand Apple's value as a brand and company.

14. Whatr are some of the examples of the successes that Apple had attained?

Ans: iPod launch in 2001 made many interested as well as iTunes music in 2003.

15. Are there any challenges that Apple has faced/is facing?

Ans: Their unclear vision for Apple's services, as they lack behind in continuing forward on apps like Apple Arcade, whereas iCloud and other services are rapidly growing and are being expanded. Same can be said with Apple Podcasts or Apple News, theres not enough subscirbers following through it either way.

16. How does Apple respond to competition from companies that have similar USPs?

Ans: Well as Apple has a very unique ecosystem that consists of iMessage, iCloud, Apple music and such, it very wekl differenciates them from other tech companies. And another minor thing wouldd be the premium branding of Apple, as it is seen as a luxury to own Apple.

17. How relevant has Apple's USP been to the current market? 

Ans: By being consistant with their long term vision Apple and having a proper plan, Apple maintains its position as the leading tech company. Constantly expanding its reach and its customer base.

18. How many Apple stores are there in existance as of now in the United States itself?

Ans: There are about 272 Apple stores currently standing in USA.

19. What is the most common USP amongst most of the fast food industry?

Ans: Mainly it would be how its convenient, the fact that its affordable and as the name suggests it has fast services.

20. How do some of the major fast food chain differentiate their USPs?

Ans: by unique menu items, the way their branding is exposed, and service models.

21. How is pricing important in a fast food industry's USP?

Ans: Competitive pricing amongst the fast food industry is good for the business, and things like value menus (promotional menus) will attract people who are costconsious.

22.  Does the menu variety and customizable options of the menu enhance the USP of fast food industries??

Ans: It usually caters to people who have a wide range of taste, or if they would like to try something new.

23. Is branding important for fast food chains?

Ans: Yes, because a strong brand image creates a very loyal customer base.

24. Do fast food chains use technology to improve their usp?

Ans: Yes they do, by using mobile apps (McD/PizzaHut) and using kiosks for self order at the restaurants itself.

25. How do promotions contribute to fast food chains like McDonald or KFC?

Ans: Limited time offers or deals, make the customers want to get it before the offer is over.

26. How do fast food chains make use of social media ?

Ans: Social media engages the consumers, uses the platforms to promote either new items or any deals and also builds its own brand community.

27. Do cleanliness matter for a fast food chain?

Ans: Cleanliness and a good atmosphere makes the customers dining experience a lot better and increases their satisfaction. (And it is a basic requirement to have a very clean restaurant)

28. Hows the competition like between fast food industries?

Ans: Each fast food chain has its unique features and is continuing to innovate more like KFC is famous for its cheesy wedges things like that, as well as most of them are trying to be more of a healthy option in order to attract consumers.

29. Does the cultural adaptions in fast food industries contribute to their USPs?

Ans: Yes, fast food chains like McD or KFC adapt to malaysias culture for example, they include things like nasi lemak or rice itself, which is well loved by malaysians.

30. How do limited time offers for fast food industries enhance their USP?

Ans: It makes consumers want to get it as it is limited, and creates excitement.

31. How does customer feedback affect the fast food industry's USP?

Ans: It actively helps the fast food chains to improve their services and their food, ensuring that it satisfies customers wants.

32. Some fast food chains are open 24/7, why does that affect the USP?

Ans: As some people come to grab a bite after the usual dining hours, it shows that these fast food restaurants are in fact convenient as they are open the whole day, it caters to customers who get hungry at random hours.

33. McDonalds caters to children by having happy meals, how does that contribute to its USP?

Ans: It attracts families with children, who want to satisfy their children's small appetite and also give them something like a reward as happy meals contain a toy as well.

34. What does McCafe do for Mcdonalds USP?

Ans: McCafe specifically appeals for consumers who love coffees ranging from high quality coffee, they get to compete with other coffee shops.

35. Do fast food industries have certain products that are staple to their brand?

Ans: Yes, for instance McDonalds staple item would be the BigMac, as it  an unique and recognizable item on the menu.

36. Do fast food chains offer breakfast, and does that contribute to their usp?

Ans: Yes, fast food places like McD and KFC offer breakfast menu before 12am, which caters to people who are rushing to work and would like to go ahead and grab their first meal of the day, it makes it more flexible and convenient.

37. How does KFC's fried chicken play a role in its USP?

Ans: KFC literally has Kentucky FRIED CHICKEN in its name, and that is its speciality, it draws attention towards kfc as they are the experts at making fried chickens.

38. Do fast food chains partner with popular franchises to contribute to their USP?

Ans: Yes, McDonalds usually collaborates with franchises like Sanrio, Disney or any new thing that's currently famous and uses that to promote toys for their happy meals.

39.  What makes McDonalds popular worldwide and does that contribute to their usp?

Ans: Because of their consistent good quality and their recognizable menu items, they are popular and attract consumers.

40. Are fast food chains family friendly?

Ans: Yes they are, most fast food chains like McD have meals catered to kids, hence making it a popular place for families to dine in.

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Summary: 

From the research done above it can be seen that most of the USPs for both Apple and in the food industry is quite similar, however for Apple, its USP is defined by the innovation, sleek design, brand loyalty and its ecosystem. Apple has its own premium pricing which focuses on privacy and its strategic partnerships contribute to its market. On the other hand with the fast food industry;s USP, mainly focuses on the fact that they are convenient, affordable, have diverse menu options, competitive prices, and generally have a strong branding. They tend to make their appeal morebetter through technology, cultural adaptations, promotions, and even 24/7 availabilities. Cusstomer feedbacks tend to be the backbone for both Apple AND fast food industries to maintain their customer base.

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Reflection:

During my research for this part of the topic, it amazed me how Apple is a very huge corporation and is currently still running strongly and proudly. Their USPs do make sense as well. I may be biased as an apple user myself but it may be one of the best brand of electronic devices out there. I learned a few things I never had known before so it was interesting to research on this topic. As for fast food industry, I feel like most of the answers are very similar to our swot analysis strength part, but I guess its their strength that makes them unique in certain cases. I answered most of the questions with my own answers and mixed it with some of the resources I have found. (I WAS SUFFERING DOING THIS, ALMOST CRIED, but I finished so its okay) 

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References:

(2023). USP Wars: McDonald's VS Apple. Two Teachers. Retrieved May 27, 2024, from https://www.twoteachers.co.uk/post/usp-wars-mcdonald-s-vs-apple

(2024). 10 Proven Unique Selling Proposition Examples That Boost Sales. The Strikingly Blog. Retrieved May 27, 2024, from https://www.strikingly.com/blog/posts/10-proven-unique-selling-proposition-examples-that-boost-sales

 

Chowdhury, S. P. (2023). Apple's Path to Success: Unveiling the Strategies Behind Corporate Growth and Innovation. Linkedin. Retrieved May 27, 2024, from https://www.linkedin.com/pulse/apples-path-success-unveiling-strategies-behind-saikat-pal-chowdhury#:~:text=Innovative%20marketing%2C%20customer%20engagement%2C%20and,customer%20base%20and%20market%20reach.

 

Dooley, J. (2024). Why is it Important For Entrepreneurs to Have a Unique Selling Point. Linkedin. Retrieved May 27, 2024, from https://www.linkedin.com/pulse/why-important-entrepreneurs-have-unique-selling-point-james-dooley-fjdxe

 

Elalj, S. (2024). The Apple Ecosystem: Is It Really That Good? RefurbMe. Retrieved May 27, 2024, from https://www.refurb.me/blog/apple-ecosystem-everything-you-need-to-know

 

Levy, S., & Montevirgen, K. (2024). Apple Inc. Britannica. Retrieved May 27, 2024, from https://www.britannica.com/money/Apple-Inc

 

Mega, L. (2019). How to Create a Unique Selling Proposition (USP) For Your Restaurant. 7shifts. Retrieved May 27, 2024, from https://www.7shifts.com/blog/type-of-restaurant/

Pereira, D. (2023). McDonalds SWOT Analysis. Business Model Analyst. Retrieved May 27, 2024, from https://businessmodelanalyst.com/mcdonalds-swot-analysis/

Purohit, N. (2019). 7 P's of Marketing for QSR (Quick Service Restaurants) or FastFood Chains. Linkedin. Retrieved May 27, 2024, from https://www.linkedin.com/pulse/7-ps-qsr-quick-service-restaurants-nisarg-purohit

 

S. (2022). Restaurant USPs: The Secret Sauce to Differenciation. SEVENROOMS. Retrieved May 27, 2024, from https://sevenrooms.com/blog/restaurant-usps

Sheldon , R. (n.d.). Unique selling point (USP). TechTarget. Retrieved May 27, 2024, from https://www.techtarget.com/whatis/definition/unique-selling-point-USP

Upadhyay, B. (2023). Apple Store Count Worldwide: 272 In US, 45 In China And More. News18. Retrieved May 27, 2024, from https://www.news18.com/tech/apple-store-count-worldwide-272-in-us-45-in-china-and-more-7583191.html

Yousaf, M. A. (2023). "Unlocking the Power of USP: How to Define and Leverage Your Unique Selling Proposition for Business Success". Linkedin. Retrieved May 27, 2024, from https://www.linkedin.com/pulse/unlocking-power-usp-how-define-leverage-your-unique-selling-yousaf