Marketing plan for Burger King

Marketing plan for Burger King

Introduction

This paper outlines a marketing plan proposal for King Burger presented to the company executives to adapt for them to increase their profits and gain a competitive advantage over other companies. Burger King, a well-established fast-food organization in the United States. This proposal will encompass the strategies based on the products that the company will offer through target marketing using its marketing mix tool.

SWOT Analysis

Strengths

Burger King is one of the largest brands of the fast-food industry; it should ensure that it intensively uses its brand to bring out the hidden potential that it has. The company should diversify its products such as breakfast, desserts similar to other companies that have emulated the strategy. The company has a strong brand that has seen over 80% of franchised outlets, which should further assist the company in innovating its menus that will draw more customers.

Weaknesses

The company should address its main weakness which is the business model. Its model of business is easily imitated by different companies such as KFC that has also built a strong brand over time. The company has experienced a decline in the purchase f burger due to the increases in health consciousness

Opportunities

Burger King has an opportunity for business expansion. The executives should consider expanding the company’s coverage in the emerging markets, which will male is market strong and easy to penetrate in the emerging markets. It should consider introducing healthy products of the food segment, which will incorporate the people who love healthy meals and those who love fast food meals. A goodmarketing mix is adding a product such as freshly squeezed fruit juice, which will increase and diversify the types of customers who visit their outlets.

Threats

The company is facing a significant risk of competition from other companies which are selling similar products. A significant competitor is MacDonald’s, Dominos, Subway, KFC, among others. The company can address such threats based on their marketing strategies which will make it more preferred than the others

Development of a Marketing objective

The company should revise its marketing objectives, which will ensure that it maintains its reputation in the competitive fast-food industry. The marketing objectives that the company should feature include; provision of quality food in all of its outlets all over the world, conducting proper product diversification based on the needs of their clients, increasing its brand awareness, and maintaining its standards in all of its outlets. When these objectives are attained, the company will increase its customer influx and will achieve a market advantage over its competitors.

Proposed Marketing Mix

Marketing mix refers to a tool which includes different strategies that the company will use from its production stage of goods and promotion stage of their products. The company should consider enhancing its marketing mix based on the four strategies, which include product mix, price mix, Place mix, and promotional mix, as discussed below.

Product

King burger is known for its production of Hamburger as the main product. Other products that the company is known for is chicken products and French fries. Several companies have come up that produce the same products, which has caused high competition. The company should consider differentiating its product by increasing a variety of salads on the menu. Based on the changing customer behavior regarding healthy living, it should also introduce vegetable burgers option, which will cater to the vegan customers. To ensure ease of pf services and freshness that will boost palatability, the company can also introduce a cook to order food. These strategies will improve and increase the number and diversity of customers that visit King Burger outlets.

Price

Burger King should implement effective pricing strategies to ensure that they regain their profits as they used to be. In my view, the option that they should consider is keeping salads prices the same regardless of the types of salads that they offer. With the introduction of vegetable burgers, they should also keep the costs the same as the usual beef burger that they offer. The company should also customize their menu to include prices for groups. For instance, a combo burger for a table f four at a fixed price with a choice of a drink on complimentary. The strategy will not only increase the revenue figures for the company but create an advantage over other fast-food companies.

Place

Over an extended period, Burger King has been improving the physical existence of its fast-food facility outlets. Unlike in the current century, most of their customers’ have changed their behavior of purchasing. Most customers want to relax at their workplaces or homes, place an order over their phone and receive their products. Therefore Burger King should develop a website where customers can place their orders and place of delivery. Delivery of their orders should be done swiftly and efficiently to prevent some products from getting cold while others hot. By using target marketing, they should enhance their facilities near institutions such as universities and colleges where most customers want to eat out.

Promotional

Under the promotional process, burger king has been advertising its products through the use of different media such as online media, broadcasting, and print media. Some of these methods are traditional methods of advertising, which do not create awareness for most customers in the current century. The company should employ strategies that target specific potential customers that they require. They should consider paying nutritionists to talk about their product and diversification of healthy food products that they are employing. They should also factor in celebrity endorsements such as Jay Z, John Cena, or another well-known public figure. They should promote their products on outlets near institutions by ensuring that they offer lunch packages that come with a discount at noon and in the evening for happy hour.

Conclusion

Thus when the managing executive applies the marketing plan stipulated for the company above, they will ensure that they have generated significant revenues by attracting more people to purchase their product than before. The central concept that the company should consider more is on increasing mire healthy food products, which will make them better than their competitors.