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1RUNNING HEAD: TACO BELL MARKETING PLAN FINALTaco Bell Marketing Plan FinalKelly SmithBUS 330 Principles of MarketingMurad Abel8/17/2020
2RUNNING HEAD: TACO BELL MARKETING PLAN FINALCompanyTacos, gorditas, quesadillas, tostadas, and nachos are just some of the foods that this well-known fast-food restaurant is known for. "Taco Bell is an American fast-food chain known for itsinventive, often whimsical, Mexican-inspired menu items" (Fact Company, 2020). Taco Bell has been around for over five decades serving some of the most affordable and recognizable Mexican fast-food menu. Products and ServicesTaco Bell offers a variety of different Mexican-style foods made fast to order. From the hard-shell tacos that started the company, Taco Bell also has a variety of Mexican-style cuisine. The selections on the menu range from different style burritos and tacos, chalupas, nachos, desserts, frozen drinks, and healthier options like salads.HistoryTaco Bell was founded in 1962 by Glen Bell in Downey, California (Taco Bell, 2015). Mr. Bell was a veteran, and his time in the service lead to the career he created in the fast-food industry. After the success Bell had with restaurants selling hamburgers and hot dogs, he ventured out and created the well-known fast-food chain Taco Bell. Today, Taco Bell has more than 7,000 locations and 350 franchisees worldwide (Katuz, 2017). Taco Bells' current slogan is Live Mas, meaning live more (Morrison, 2012).CompetitorsWhen Taco Bell originated in 1962, it was one of a kind Mexican-cuisine fast-food restaurant. Since then, the fast-food industry has significantly grown. Some of the top fast-food competitors are Subway, McDonald's, Burger King, Wendy's, Kentucky Fried Chicken (KFC),
3RUNNING HEAD: TACO BELL MARKETING PLAN FINALand Pizza Hut, which aren’t directly in the same style of fast-food cuisine as Taco Bell. However,the most significant competitors that Taco Bell has in the fast-food Mexican-cuisine industry are Chipotle Mexican Grill, Taco Time, On the Border Mexican Grill, Del Taco, and Chevy's Fresh Mex. Many of the competitors were established after Taco Bell. SWOT AnalysisA SWOT analysis is a technique for evaluation. The 's' stands for strengths, 'w' stands for weaknesses, 'o' stands for opportunities, and the 't' stands for threats. Below is the SWOT analysis of Taco Bell. Strengths24/7 availability or late-night hoursDelivery options/ApplicationAffordableHealthy ChoicesVariety of menu optionsGlobal locationsGreat employment incentivesTaco Bell has over 7,000 locations worldwide, and most are known to be open 24/7, if not at least late-night hours (Lock, 2020). They also offer a variety of different Mexican-style cuisine that also includes healthier options such as trans-fat free food, vegan, or vegetarian menu. Taco Bell currently has 12 standard items that are vegetarian (Thomason, 2019). The fast-food restaurant also is very affordable. Taco Bell also provides resources and opportunities to its employees (Taco Bell, 2020). The fast-food restaurant also has a mobile application to make it even easier to order food.