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Marketing mix of Burger King executive summary assignment
Burger king history
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Q.1 Executive summary
Burger king was opened in 1953 in United States. Burger king is comes after MC Donald’s in burger food market in the world. Burger king was struggling under-investment by the early 2000s. Even customers agree that burger king’s meals are better than Mc Donald’s but they doesn’t have good perception making the aggressive marketing and administrative power of their major by circumstantial. This was released in 2002, Diageo the first grade in spirit drinks and wine, which purchased it in 1997, after an alliance with Guinness. Texas pacific group bought it in 2002 for $2.26 billion. This second ranked burger chain continuously fight with Mc Donald’s and in year 2004 their performance slightly inclined. In their market they
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especially when it comes to the price, quality and services offered by them.
• Legal threats includes law suits against their restaurant, meals, advertising, employment etc.
Q.3 Mission:
The mission of burger king is simple yet profound. They working on quick service, they prepare and sell fast to fulfil their customer demands quickly, correctly, politely and in safe and hygiene than their competitors. They will charge all their business affairs correctly and consist of skilled perfect staffs in all over New Zealand. They will continue to boom up their profits and responsibly, and enhance opportunities for every employee of their organisation.
Vision:
The burger king vision is all about the company’s goals to increase sales and expand the business in all over the world. The vision term describe the four poles of sales- menu, image, marketing and communication, and operations, and it explain that how they use it to promote their sales. It also highlight goals for future global expansion, franchises, and limiting its corporate budget.
Values:
In daily routine burger king serve over 11 million customers in their worldwide restaurant. This is because of some factors which
Our mission is to provide our customers with the best products and services that we have created a new market space for. We strive for 100% customer satisfaction and taking what used to be multiple purchases of software into one operation system. That can increase many aspects of the important sectors within the restaurant industry. I.e. decrease employee-training time, increase outputs, real-time record keeping ‘including inventory’, and more.
The McDonalds Company has come to the limelight as one of the fast foods outlet causing health problems to the young people. The youngsters have taken the matter to the judiciary to contest for justice. They have also engaged the media which has publicized the company in that respect. Nonetheless, it is not McDonalds Company alone. The writer confesses that he once dealt in that venture and is remorseful about the woes bedeviling McDonalds.
How and why has Wendy’s changed over time to become the restaurant it is today? Wendy’s is a quick serve, fast food burger chain, and is famous for their square patty, fresh, never frozen hamburgers. They are also well known for their catchy advertising and slogan’s. Wendy’s became the restaurant it is today through rapid expansion, the addition of new menu items, and incorporating creative advertising, all while never losing its identity of producing the freshest products with the freshest ingredients.
Wendy’s is one of the world’s third largest hamburger companies that is quick service. There are over 6,500 company and franchise restaurants worldwide. Wendy’s mission is to stand for honest food, higher quality, fresh wholesome food, prepared when you order it, prepared by Wendy’s kind of people, do it Dave’s Way, we don’t cut corners. This company believes in fresh and non-frozen products so the customers are satisfied and now they bought from an honest restaurant. The foundation believes in long term success that include there core values in every production. The core values are “Quality is our Recipe” “Do the Right Thing” and “Give Back”. Wendy’s focuses on the responsibility that the stakeholders are also the key to success.
In order to understand McDonald's structure and culture and why they continue to be the world's largest restaurant chain we conducted a SWOT analysis that allowed us to consider every dimension involved in the business level and corporate level strategies.
Customer loyalty is another competitive advantage. Trader Joe’s doesn’t provide membership card to the customer, however customer still would like to choose Trader Joe’s just because of this
McDonald's Corporation is the largest fast-food operator in the World and was originally formed in 1955 after Ray Kroc pitched the idea of opening up several restaurants based on the original owned by Dick and Mac McDonald. McDonald's went public in 1965 and introduced its flagship product, the Big Mac, in 1968. Today, McDonald's operates more than 30,000 restaurants in over 100 countries and have one of the world's most widely known brand names. McDonald's sales hit $57 billion company-wide and over $25 billion in the United States in 2006 (S&P).
Fast food restaurants are popular among the consumers nowadays. Many fast food restaurants are trying to serve the needs in the market as people seek for quick and convenient place to eat. Due to the fact that there are a huge amount of fast food chains available in the global market, fast food companies have to strive for success. Just by providing quick and convenient style of eating for the customers is not sufficient to stay competitive. This is why it is interesting to study and learn about a fast food company that stands out in such a competitive environment. What has KFC China been doing to become successful? What marketing strategies did they use to dominate the market? We shall find out in the following sections.
Innovation is an important aspect of business today. It is important for companies to be innovative in order to stay competitive with their competitors. Innovation can come in different forms depends on the company’s objective. KFC, one of the most popular fast-food restaurants by the Yum! Brands, chooses to be innovative for their business model. Although, there is a huge amount of fast food chain available in the global market, KFC found the key to stand out from the intense competitive environment. By expanding the business to China, KFC learned unprecedented success by being different, not by being the same. The company’s business model is all about adapting to the local culture and understanding the needs of the Chinese market. Three main innovative strategies of KFC in China are localizing the menu, understanding the Chinese culture, and hiring local management.
Now days , the customers so awareness of the fast food industries and its ingredients like no effected, no allergy, fresh, pure and others food which will be available on time in related area. Such sort of features are provided by burger fuel and the government policy of china is also welcoming to the foreign investor. It means the government policy is favorable for the foreign investor and franchisor. For instance, the competitors like burger kings, KFC are there in china. Therefore the burger fuel also enter into the Chinese market thorough the franchise and local partnership. Franchising is a rapidly increasing model for business expansion in the retail sectors like fast food industry and it is going to be making their own market in growing service sector of the Chinese economy in the years to come. The growth of modern retail trade has been the driving force behind it. The old age population are very low in china but the active population is very high at the age group 25-54 years is 47.2% (male 327,130,324/ female 313,029,536). Therefore, the target age group is18-35 years, employed and those people are eager to eat at outside. The burger fuel is also totally focus to
Competition Among Fast Food Chains MARKETING INFORMATION NEEDED FOR THE FAST FOOD INDUSTRY. To begin with, for the fast food industry around the world, the leading fast food chains marketing information is wrapped around convenience location, changing preferences, quality of food, pricing of fast food, potential customers, age of the customers, menu selection and diversification and last of all superior service. From a marketing perspective, location for the fast food service to the potential customers is most important, according to Maritz Marketing Research. A recent study showed the location has to be convenient. The analysis said that adults under the age of 65 prefer a convenient location for their fast food.
An evaluation of the restaurant’s strengths, weaknesses, opportunities and threats served as the foundation for this marketing plan. The plan focuses on the restaurants marketing strategy, suggesting ways in which it can build on new customer relationships, and development of new food products and targeted to specific customer groups.
· Burger King Corp. that offers an array of value-priced offerings and makes kitchen and drive through upgrades
“We place the customer experience at the core of all we do. Our customers are the reason for our existence. We demonstrate our appreciation by providing them with high quality food and superior service in a clean, welcoming environment, at a great value. Our goal is quality, service, cleanliness and value (QSC&V) for each and every customer, each and every time.”
Fierce and growing competition – big fast food companies like Burger King and Kentucky Fried Chicken are constantly competing with McDonalds for customers and trying to take the spot as the top fast food chain.