Burger King Case Study Example
About Burger King
Burger King is one of the fastest-growing QSR food chains in the Nation. A globally recognized fast-food chain, Burger King is a subsidiary of the Restaurants Brand International Inc as a portfolio of fast-food brands that includes POPEYES Tim Horton and Burger King brands. It develops, operates, and franchises Burger King outlets in India.
The company’s franchise model provides the company with the flexibility to prepare a menu that meets and exceeds the preferences and tastes of Indians. Based on the total number of restaurants operated by the business, Burger King is the second-largest fast-food burger brand.
Burger King Marketing Strategy
Strategy is the long-term planning that helps a company to accomplish its objective. It helps to figure out the marketing plan that would help the business to achieve its goals. Burger King has been adopting marketing with new strategies.
Burger King marketing strategy 2021 uses a market-oriented pricing strategy as its primary approach to pricing. This pricing strategy involves setting prices based on prevailing market conditions, including supply and demand conditions as well as the pricing of competing firms.
Burger King’s of Brand equity
As per sources, Burger King consists of more than 15000 outlets that are operated by franchises all over the world. The majority of the franchises import essential raw materials from reliable third-party suppliers.
Leading fast-serving food chains like Burger King to have high TOMA due to popular and demanding Whopper, Salads, Hamburger and much more that helps the company to expand its brand equity.
BCG Matrix in Marketing Mix
Franchise-operated and owned business is a star in the matrix. On the other hand, revenue generated from company-owned outlets and that from the subleased outlets to the franchise isn’t substantial. Henceforth, it is a question mark in the BCG Matrix.
Competitive Advantage in Marketing Mix
Burger King has a strong parent company like Restaurants Brand International. It helped the company to utilize its infrastructure support that’s helping the company to achieve its long-term and short-term objectives.
- Royalties paid by the franchises as a portion of total sales generated
- Properties leased or subleased to the franchises.
- Revenues were generated by the outlets owned by Burger King.
- Burger King owns more than 1000 domain name registration worldwide.
Intellectual Property Rights: The global food chain owns over 4600 Trademarks.
Burger King Target Market
The target market for Burger King now includes women, children and youth majorly. Moreover, it has been focusing on worldwide expansion through opening new branches geographically as well. This has been successful in raising the overall sales of the company.
Marketing Mix of Burger King
Burger King employs its marketing mix that’s responsive to the saturated and dynamic condition of the fast service food and restaurant industry. A marketing mix is a combination of the tactics and strategies to implement the marketing plan. It aims to boost the competitiveness of Burger King against an array of market players. Burger king developing a marketing mix for growth.
It helps the company to place itself as an industry leader.
Competitive analysis in the Marketing Mix
The market is loaded with international, national, and regional fast-food chains. As such, it becomes challenging for the company to strengthen its customer base. Poverty and literacy level, price per capita, and way of living are challenging factors for companies to increase market share.
Product in Marketing Mix
Product in the marketing mix indicates organizational outputs that are getting delivered to the customers. Burger King runs its restaurant business, focusing on burgers as one of the main products. Main products served by the food chain includes
Apart from Burger, the fast-food chain offers chicken and fish to the consumers. It includes sides like onion rings, hash browns, fries, and nuggets as alternatives. The menu comprises flavorful salad recipes like Chicken Caesar Salad and Morningstar salads.
It allows customers to order Desserts and sweets Caramel Sundae, Dutch Apple Pie, and Oreo Shake. Burger King’s beverages include milk, frappes, juices, water, smoothies, soda, and iced tea. Additionally, Burger King segments its product as kid’s meals and value meals.
Marketing Mix or 4 Ps of Burger King enhances companies competitiveness. These are some of the tactics followed by the food chain to sustain in a competitive condition of the market
Promotion in Marketing Mix includes tactics to reach out to the intended audience. It is how they convey deals offered by the firm.
The fast-food chain follows these promotion and marketing tactics, assorted based on the significance:
The company relies on online advertisements to promote the products and/or services offered by Burger King. It advertises on TV and social media. It offers discounts, coupon codes through its mobile apps and website. The McLamore Foundation offers scholarships and financial support to aspiring students, strengthening and promoting Burger King.
Burger King products are available at its outlets all over the world. Place in market mix indicates the venue that the company uses to reach out to the targeted audiences. Burger King uses mobile apps, websites, and restaurants to distribute its products.
Apart from the store outlets, customers can use Burger King’s mobile apps to access freebies and exciting coupons offered by the company. It relies on the physical presence of Burger King’s outlets.
Pricing Strategy of Burger King
Burger King follows a pricing strategy that depends on conditions prevailing in the market. It includes supply chain, and pricing set by the competitors. Likewise, customers are more likely to buy kids’ food bundles and value meals that are less expensive than purchasing the food items separately.
Price in food bundles market mix includes the components that influence market conditions, thereby determining its prices.
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