Problem
How does Texas Roadhouse address the 4 "Ps"?
1) Product: What product or service will best meet their needs? Will they need to tweak their existing offering to better stand out in the marketplace?
2) Pricing: How much will/do they charge? Could they make changes to pricing to increase your competitive advantage? Pricing is typically based on how much something costs to make, market, distribute and sell, and also on the profit margin you want to achieve.
3) Place: Where do customers search for, choose, buy and use their product or service? Are the offerings available where customers are most likely to find them? Be sure to consider both physical and online places.
4) Promotion: How do they communicate and sell to customers? This is what most people think of when it comes to "marketing" and can include advertising, in-person sales, public relations, social media marketing, email marketing and other promotional tactics.