Report on Marketing Plan of Burger King
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Added on 2020-04-15
Report on Marketing Plan of Burger King
Added on 2020-04-15
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Running Head: MARKETING 1Marketing Plan: Burger King
MARKETING 2Table of ContentsIntroduction......................................................................................................................................3Product Description and Brief History of Company.......................................................................3SWOT Analysis...............................................................................................................................4Strengths.......................................................................................................................................4Weaknesses..................................................................................................................................4Opportunities................................................................................................................................5Threats..........................................................................................................................................5Marketing Objectives.......................................................................................................................5Target Market Strategy....................................................................................................................6Marketing Mix.................................................................................................................................7Product.........................................................................................................................................7Price.............................................................................................................................................7Place.............................................................................................................................................8Promotion.....................................................................................................................................8Implementation and Control Plan....................................................................................................9Conclusion.....................................................................................................................................10References......................................................................................................................................11
MARKETING 3Introduction Marketing plan is the program, which is created by an organization, when it plans to bring a newproduct or promote in the market. It includes all the aspects, which can be used by anorganization to attract its potential customers. It is very important for the company to develop aneffective marketing plan because it works as an important document of the company. Theorganization, which is taken into consideration here, is Burger King, which is a well-establishedfast food organization in United States. The report includes the discussion about the products andservices provided by Burger King. After discussing products, it analyzes the target market andmarketing objectives of the company. The company is implementing effective marketingstrategies by using marketing mix tool, which includes four strategies, i.e. product, price, placeand promotion. For analyzing the external and internal environment, SWOT analysis isconducted. This analysis provided the information about the organization’s internal and externalfactors, which can affect the growth of company in fast food industry. At the end, the reportconsists of the implementation of control program for this marketing plan. Product Description and Brief History of CompanyBurger King is a fast food chain all over the world, which is based in United States of America.Founded in the year 1953 as InstaBurger King, the company is headquartered in Miami DadeCounty, Florida. InstaBurger King was established by Keith J. Kramer and Matthew Burns andthen it was transformed in Burger King by David Edgerton and James McLamore. After lookingat the McDonalds’ original store, the founders of Burger King opened their first outlets. Theproduction model of the company was based on a machine, i.e. Insta-Broiler. It is one of theleading hamburger chains in the world that is operating its business operations in more than 100nations, from which 90% are privately owned franchises. The major products of the company arehamburgers, French fries, chicken, soft drinks, desserts, salads, hot dogs and some otherbreakfast items (Burger King Corporation, 2017). As of 2016, it was reported that companyowns 15,738 fast food outlets in more than 100 nations. The company is offering the fast food products, so that it can fulfill the needs and expectations ofpeople regarding food and other breakfast items. The company has expanded its businessoperations in different countries and diversifying its product range (Goi, 2009). It is expandingits business by establishing franchises in many countries. The way, in which the organization
MARKETING 4licenses its outlets, differs according to the region. In its organizational life, the company hasfaced various issues and legal cases, which have affected its brand image. Burger King has madevarious efforts to deal with these situations. Now, the company has become successful in the areaof fast food chain. Company is facing intense competition from many competitors, like;McDonalds, Dominos, KFC, Pizza Hut, Taco Ball, Subway etc. Now, the company is addingnew food products in its fast food chain, which is enhancing its business operations all over theworld. Currently, Burger King is the second largest fast food provider after McDonalds only. SWOT Analysis SWOT analysis is the tool that is used for evaluating the external and internal factors, which mayimpact the growth and success of an organization in its prospective industry. When it comes toprepare the marketing plan for company’s products, it is important to analyze the external andinternal environment of the company (Kipley & Jewe, 2015). SWOT analysis for Burger King isstated below; Strengths Burger King is one of the largest brands in the fast food industry. Currently, it is secondstrongest fast food restaurant. Apart from hamburgers, the company is using diversified productrange, like; breakfast products, chicken items, dinks, desserts. As similar to McDonalds, thisorganization is equally strong in terms of branding. The places, where it has its outlets, it is verywell-known to capture the audiences through its advertising and marketing processes. More than80% of the outlets of Burger King are possessed by franchisee. This strategy has assisted thecompany in focusing on including innovation menus rather than thinking about the funds andfinancing options. These strengths of the company are adding more value to the company’sprocesses and operations (Kotlar, & Armstrong, 2012). Weaknesses The weaknesses of Burger King are related to the generic strategies and its business model.However, the company has moderate product differentiation; one of its major weaknesses is thatthe business model of Burger King is easily imitable. Other firms can copy the products and theycan also offer burgers. The company has a restricted product mix. Due to increased healthconsciousness in the people, there is the decline in the consumption of burgers and other fast
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