Marketing is a social and managerial process by which individuals and organisations obtain what they need and want through creating and exchanging value with others. It involves building profitable, value-laden exchange relationships with customers; therefore we define marketing as the process by which companies create value for customers and build strong customers relationships in order to capture value from customers in return, Kotler & Armstrong (2010).
Burger King Corporation (BKC) is one of the world’s leading fast food restaurants with more than 12,170 restaurants in 76 countries throughout the world.
The chain offers a range of burgers, sandwiches, salads and breakfasts, french fries, soft drinks and other food items. The company generates revenue from three sources: retail sales at company restaurants, franchise revenues and property income of restaurants that BKC lease or sublease to franchisees. (Marketwatch).
A product can be an idea, service, good or any combination of the three. It is a network of tangible and intangible attributes, including functional, social and psychological utilities or benefits. There are three levels of product; the core, actual and augmented product.
The core product is the level that provides the perceived or core benefit or service. In burger Kings case, their core product is the service they provide to the customer, taking their order, and serving their food. The actual product is a mixture of several different factors: the features offered, quality, durability, design, product styling, packaging and the brand name. Burger Kings actual product is the actual food and drink they sell, the quality of that food and of course the Burger King brand name. The augmented product is the support aspects of the products, e. . customer service and after sales support. With Burger King, the way they treat their customers would be their augmented product.
The Essay on Why Is a Product/Customer Focus an Important Characteristic for Successful Entrepreneurs
A product/customer focus is a pivotal characteristic that entrepreneurs must have in order for the entrepreneur themselves and their business to be successful. With that said, an entrepreneur with a product/customer focus is one that clearly understands the needs and wants of their customers and thereby producing and developing products that enhance people’s lives, but also products that meet and ...
They are the 2nd most popular fast food chain in the world behind McDonalds who are the market leader and their biggest competitors. In America Burger King also have places like Wendy’s and Taco Bell to compete with but the competition in the UK is much less with the likes of KFC and Subway falling behind McDonalds and Burger King. The main customers for their products would be children or teenagers with limited money and also tudents. Price is the value placed on what is being exchanged. The price of products in fast food restaurants is very important in the success of the company. When people think fast food they think fast food at a cheap price. Burger King knew that their pricing was wrong as they were at a double digit disadvantage to McDonalds and Wendy’s in ‘Best Value for Money’ ratings. In 2007 they tested a $1 double cheese burger that they hoped would challenge one of McDonald’s best-selling items, Gibson (2007).
Burger King adopted a strategy of ‘value pricing’ and embrace every-day low prices to attempt to combat other fast food chains that have already used ‘value pricing’ to boost sales and customer count, McCarthy & Grimm (1993).
Most burgers in the chain cost between two and four pounds with the choice of a meal (includes fries and a soft drink) which would cost around six or seven pounds which is the norm for fast food restaurants. The purpose of promotion is to communicate with potential customers and show them what the company is offering.
Evaluative Essay on fast food restaurants
Walking into some fast food restaurants can be exciting. As soon as you walk in you start to smell their prize winning food, you can feel the heat that is coming from the grills that they use to make your favorite fast foods. You can see the whole restaurant just with one look, there is always people ready to help you order your meal and fast service. That’s the quality’s every fast ...
Burger King promote in many ways. They are known to advertise through both films and television programs, for example, The Apprentice and the 2005 Star Wars movie. In 2005, Burger King in the UK launched a viral advertisement Viewers can choose whether they see a depressed busker giving a lacklustre performance of the BK “Only ? 1. 99” theme or a full, high energy version complete with sweat pants and leotard-clad female backing singers.
If viewers decide to drop lp in the busker’s cup, they get the downbeat version; if they give him ? . 99, they get the full version, which is a deliberate spoof of Eric Prydz’s hit video from last year, “Call On Me”, Croft (2005).
Burger King also dropped their ‘creepy’ King mascot in favour of emphasising its new healthier options as they realised they need to change their approach to attract more customers. (International Business).
For the release of their $1 cheese burger, Burger King releases a series of mouth-watering national TV ad spots and in-restaurant merchandising in support of the promotion.
Via online banner ads, Web users will also have the opportunity to experience just how much a $1 bill can afford them from the BK(R) Value Menu using a simple Web cam and some novel “augmented reality” technology, which overlays the products from the menu onto the currency image, (Marketing Weekly News).
These advertising campaigns show that Burger King really wanted to get their message across even if it meant spending big. ………The place a product or service will be located and how it will get there, is also known as its channel of distribution or marketing channel.
When deciding where to position a product, the marketing managers or the company need to understand how product differentiation affects competition. Burger King will generally avoid locating in an optimal location, even if they are entering the market first, to avoid anticipated competition with McDonald’s, Thomadsen (2007).
Distribution decisions have a powerful influence on the rest of the marketing mix. Burger King generally uses a channel B channel of distribution.
The Essay on Marketing Segmentation, Targeting and positioning of Burger King
Background The following is the analysis the segmentation, targeting positioning of Burger King. Burger King Corporation is founded by James McLamore and David Edgerton, beginning the legacy of flame-broiled beef and commitment to quality ingredients and friendly service. BURGER KING is the second largest fast food hamburger chain in the world. Nowadays, more than 11 million guests visit BURGER ...
This is when the goods go from the producer to the retailer (Burger King) then on to the consumer. This channel is used by almost all large companies. In conclusion, this study shows that Burger King have a very typical marketing mix in comparison with other companies of the same nature (McDonalds, KFC).
They always try to differentiate themselves from their competitors and to try and catch up with McDonalds in terms of market share.