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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
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
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.
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.
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).
One of Burger King’s most important strengths is its strong market position. It is the second largest fast food chain in the world, trailing McDonald’s. There are 11,550 stores in 71 different countries. Its geographic diversification is a competitive advantage. Burger King’s slogan, “HAVE IT YOUR WAY,” and its’ famous “WHOPPER” brand are very recognized by all consumers. These two campaigns were created in the 70s and have stuck around ever since. Talking some numbers, between 2006 and 2008, the chain’s profitability increased from $170 million to $354 million. In 2010, $2.5 billion was expected to be made and Burger King was able to reach just those projections.
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
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.
Burger King adds value through the good quality products served. What the customers perceives is what the customer gets and sometimes more than what the custome...
... conclusion, to compete with the intense competition in today’s fast-food market, KFC China differentiates the company by being innovative. Three significant innovative strategies are localizing the menu, understanding the Chinese culture, and hiring local management. KFC demonstrates that one size fits all approach in the global market does not always work. Many typical Western approach to foreign expansion is to deliver the same products or services as their original establishment. For instance, Domino’s Pizza, an American restaurant chain, nearly failed in Australia due to the underestimation of the need to adapt their offerings to the local tastes. KFC China offers important lessons for global firms. It is essential to know that to what extend the company should keep the existing business model in emerging markets and to what extend it should be thrown away.
By choosing to expand into markets later than other fast food restaurants Burger King hopes to avoid the problems of developing infrastructure and establishing a market base. For instance, by following McDonalds into Brazil, Burger King avoided the need to develop the infrastructure and mark...
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
CHANGING PREFRECE depended vastly on the fast food manus. For example we can mention about SALAD. Now salad was never considered as a part of fast food menu. But with the change of taste and preference, fast food chains like Windy, Taco Bell, and McDonald have introduced SALAD into their menus. This preference is not stopping only with salads. In 2002, McDonald’s introduced great tasting new products including premium salads, n salads plus menu; Chicken McNuggets made with white meat; Fish McDippers; Chicken Selects; and new breakfast offerings like the McGriddle sandwiches. Here as a fast food chain, McDonald did not have to introduce new dishes in their menus but with the impression and image in the market analysis, of increasing demand and chan...