Question

Question 1:

Discuss buffalo wild wings success and stagnation in terms of customer perceived value?

Question 2:

Which of the five marketing management orientations best applies to Buffalo Wild Wings?

Answer 1

Part 1) Customer perceived value is a marketing related concept. It is a notion, when a customer buys any goods or services he mainly focuses on the benefit which he will receive after consuming the product. It is the evaluation done by the customers of the benefits of the product or services.

In simple terms, Customer perceived value is total customer value minus total customer cost.

Buffalo wild wings is one of the famous and biggest restaurants now. In the past 10 years, it has grown at a very rapid rate.

In the past the company faced many problems, According to CEO Sally Smith, the customers were totally penniless to buy the tickets for the sports event. The company worked hard on this. And they remodel the restaurant to give the stadium look and feel.

Before that the company stagnated, might be because of the fact that they were not concentrating on their customer.

But the company really worked hard on this. Every restaurant only focused on the menu Buffalo wild wings started concentrating on their customers, in order to increase customer perceived value. They made an attractive and exciting environment in their restaurant with numerous TV's, so that while enjoying food and beer the customers can also watch their favourite sports events. They also placed tablets on every table so that the customer can play trivia games.

The cable and satellite channels which the customers couldn't afford to see, the restaurant capitalized on this.

And now Buffalo wild wings is one of the top Restaurants because of the fact that as the company start investing in customer perceived value, More customers are visiting Buffalo wild wings as compared to visiting other Restaurants because they are also maximizing their benefits by comparing the services offered ny buffalo wild wings with the other, and they finds buffalo wild wings to be more attractive, according to them, this is what called customer perceived value.

Hence it can be clearly concluded that when the company started investing in increasing perceived value of the customers, it started becoming successful because they focused on the customers rather than only focusing on competition and menu.

Part 2) Firstly we need to discuss the five marketing management orientations.

• Production concept
• Product concept
• Selling concept
• Marketing concept
• Societal marketing concept.

Production concept:- This concept believes that the customer will buy those products which are low in cost and are in wie range. It focuses on wide distribution of products and higher efficiency.

Product concept:- specialising the product or evolving the product from time to time in order to serve customers the best product.

Selling concept:- In this a company Aims to sell all the products which are produced rather than concentrating on what the customer actually needs.

Marketing concept:- In this the company mainly focuses on the strategy on how to fulfil the needs of the customers rather than concentrating on the competition. It focuses on how customer satisfaction can be achieved. The company can do this in many ways i.e., by specialising in products, by applying various schemes and much more.

Societal marketing concept:- In this the company focuses not only on achieving customer satisfaction and their own interests, but also on how the society will benefit from it.

Buffalo wild wings is an American dining restaurant and bar. During my research in Buffalo Wild wings, what i observed mainly was various kinds of schemes and options which are available for the customers.

"Fueling the sports fan experience". It offers many coupons, games and attractive prizes for various entertainment stuff. With the introduction of ‘B-Dubs Huddle’ initiative, tablets have been introduced, upon which the customers can play poker or trivia games. Other stuff includes the chain's infamous blazin' wing challenge. Their mission is to WOW people everyday. They also aim to provide ultimate sports experiences to their customers, any fan of any sport.

From this we can see that They keenly focus on how the customer satisfaction can be achieved rather than mainly focusing on competition.

Hence this perfectly matches the "Marketing concept" because They aim to increase customer's satisfaction in any way.

Therefore, "Marketing concept" best applies to Buffalo Wild Wings.