Marketing plan is the program, which is created by an organization, when it plans to bring a new product or promote in the market. It includes all the aspects, which can be used by an organization to attract its potential customers. It is very important for the company to develop an effective marketing plan because it works as an important document of the company. The organization, which is taken into consideration here, is Burger King, which is a well-established fast food organization in United States. The report includes the discussion about the products and services provided by Burger King. After discussing products, it analyzes the target market and marketing objectives of the company. The company is implementing effective marketing strategies by using marketing mix tool, which includes four strategies, i.e. product, price, place and promotion. For analyzing the external and internal environment, SWOT analysis is conducted. This analysis provided the information about the organization’s internal and external factors, which can affect the growth of company in fast food industry. At the end, the report consists of the implementation of control program for this marketing plan.
Burger 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 Dade County, Florida. InstaBurger King was established by Keith J. Kramer and Matthew Burns and then it was transformed in Burger King by David Edgerton and James McLamore. After looking at the McDonalds’ original store, the founders of Burger King opened their first outlets. The production model of the company was based on a machine, i.e. Insta-Broiler. It is one of the leading hamburger chains in the world that is operating its business operations in more than 100 nations, from which 90% are privately owned franchises. The major products of the company are hamburgers, French fries, chicken, soft drinks, desserts, salads, hot dogs and some other breakfast items (Burger King Corporation, 2017). As of 2016, it was reported that company owns 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 of people regarding food and other breakfast items. The company has expanded its business operations in different countries and diversifying its product range (Goi, 2009). It is expanding its business by establishing franchises in many countries. The way, in which the organization licenses its outlets, differs according to the region. In its organizational life, the company has faced various issues and legal cases, which have affected its brand image. Burger King has made various efforts to deal with these situations. Now, the company has become successful in the area of 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 adding new food products in its fast food chain, which is enhancing its business operations all over the world. Currently, Burger King is the second largest fast food provider after McDonalds only.
SWOT analysis is the tool that is used for evaluating the external and internal factors, which may impact the growth and success of an organization in its prospective industry. When it comes to prepare the marketing plan for company’s products, it is important to analyze the external and internal environment of the company (Kipley & Jewe, 2015). SWOT analysis for Burger King is stated below;
Burger King is one of the largest brands in the fast food industry. Currently, it is second strongest fast food restaurant. Apart from hamburgers, the company is using diversified product range, like; breakfast products, chicken items, dinks, desserts. As similar to McDonalds, this organization is equally strong in terms of branding. The places, where it has its outlets, it is very well-known to capture the audiences through its advertising and marketing processes. More than 80% of the outlets of Burger King are possessed by franchisee. This strategy has assisted the company in focusing on including innovation menus rather than thinking about the funds and financing options. These strengths of the company are adding more value to the company’s processes and operations (Kotlar, & Armstrong, 2012).
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 that the business model of Burger King is easily imitable. Other firms can copy the products and they can also offer burgers. The company has a restricted product mix. Due to increased health consciousness in the people, there is the decline in the consumption of burgers and other fast food products. It has affected the business operations of the company and decreased its sales and revenues. The company is facing difficulties in handling the number of franchises. The quality management is also not much efficient at Burger King, which can affect the brand image of the company. In addition, this company has unstable ownership, means the company has changed the hands various times (Luttrell, 2016).
Business expansion is one of the major opportunities, which Burger King may have in this competitive business environment. The company can expand its business in the emerging markets. Making its outlet network stronger by penetrating the existing market will assist Burger King in enhancing its profits and revenues and it will be able to reach on top position in fast food industry. In addition to this, the company can introduce a new food segment with the healthy food products and fruit juices and shakes. As mentioned above, people are becoming very much aware about their health, so company should understand the needs and preferences of customers and introduce this new segment. It will assist the company in attracting the customers and increasing its customer base (Luxton, Reid, and Mavondo, 2015).
In the fast food industry, one of the major threats is the intense competition. Burger King is facing fierce competition from different domestic and international players in the industry. Some examples are, such as; KFC, Dominos, McDonalds, Subway etc. Moreover, government is promoting health awareness by implementing various programs, so that people prefer to eat the food products, which does not affect their health. Apart from this, increase in the prices of raw materials may impact the business operations of Burger King.
Marketing objective of a company is the goals, which is established by the organization, when it promotes its products and services to the target market and potential customers. As mentioned above, Burger King is one of the biggest fast food service providers in the world. By complying with its vision and mission statements, company is working on its marketing objectives. There are some marketing objectives, which are set by Burger King and it is creating effective marketing strategies and marketing plan to achieve these objectives (O’Guinn, Allen, & Semenik, 2011). By attaining these objectives, it will be able to establish and sustain the brand reputation in the competitive fast food sector. Some of its marketing objectives are stated below;
After setting these objectives, the company is working to meet these objectives, so that it can establish a strong brand image in the fast food industry.
Target Market is a group of people, who most likely to purchase the products and services of the company. The company can use different kinds of target marketing strategies, so it can cover a large market under its target market. They can emphasize on the target market with marketing mix, segmentation and establishing multiple marketing mix. Each and every organization chooses its target market by considering various characteristics of market segmentation. The process of market segmentation refers to dividing the total market on the basis of different characteristics, such as; behavioral, demographics, psychographic etc.
First, Burger king is targeting the people on the basis of demographic characteristics and targeting the children and youth generation from upper and middle level people (Cobb & Catherine, 2008). In addition to this, it is focusing on the geographic characteristics also and searching for a strategic location to introduce its new franchise. Under its target market strategy, Burger King is targeting the people, who are willing to eat the delicious, hygienic and non-conventional food at the restaurant. Targeting this market will assist the company in reaching to most of the population in the world.
Market Mix is the tool, which includes different strategies, which are implemented by an organization from the production stage to promotion stage of a particular product or product range (Dominici, 2009). It includes four strategies, product mix, price mix, place mix and promotion mix. The marketing mix for Burger King is given below;
Burger King is operating its business as a quick fast food service provider and focusing on hamburgers as its primary product. The major product line of the company is;
Apart from its burger chain, this firm also offers other alternative products, like; chicken and fish. It also offers different salads, such as; Chicken Caesar and MorningStar veggie salad. Moreover, Burger King provides the products as meal for children and value meals. Thus, the product range of the company is wider than any other player in the industry (Ryan, 2016).
Pricing strategy of the Burger King is created on the basis of generic strategy, i.e. cost leadership. It reduces the prices and costs of the products. The company needs to implement effective pricing strategies to regain the profits. The pricing strategy of Burger King is given below;
Under its pricing strategy, Burger King is executing the market-oriented pricing technique. This strategy of the company includes establishing the prices on the basis of current market trends and conditions, like; competition, changes in the environment and customer preferences. Another pricing strategy of the company is bundle approach of pricing (Scarborough, 2015). For instance, the people can purchase their value meal and meals for children, which are very much affordable for the purchasing the food products. Thus, it can be said that Burger King generally relies on the market trends to make decision on prices.
The products and services of Burger King can be availed at its food outlets all over the world. It is the component of marketing mix that includes the place, which the entities utilize to make transactions with the customers in target market. It is using effective distribution channels. The major ways, through which the company is positioning its products, are; like; mobile app of the company, restaurants, website of company (Shimp, 2008). People can use company’s mobile application to look at the different coupons for discounts and some other special offers. In addition, they can place their order on official website of the company. By taking the orders from this website, the firm can do the home deliveries. Under this part of marketing mix tool, Burger King majorly focuses on improving the physical existence of its fast food outlets.
In addition to above marketing strategies, Burger King is employing some different strategies to enhance the promotion of its products and services among its customers. This marketing mix strategy includes the tactics, which are utilized to communicate with the targeted customers about the offers of company (Burger King Corporation, 2017). Burger King is implementing various communication strategies, like; advertising, personal selling, public relations and sales promotion.
Under the promotion process, the company is majorly relied on advertising the products among target market. It uses different media, like; online media, print media and broadcasting media, like; TV, Radio. Moreover, it can use the personal selling techniques for encouraging the people to purchase more products from its food menu (Thorson, and Moore, 2013). In addition, it is promoting the products by implementing public relations, such as; its foundation provides the scholarships. It also provides the financial and economical supports to the educational courses. These strategies assist the company in promoting and making the Burger King brand stronger. It mixes the promotion strategies to discuss this factor of marketing mix tool.
Under marketing plan, implementation and control plan is a process that will ensure the attainment of the business goals and objectives, which are set by the company. It plays an important role in this process. Under the process of implementation and control, human resources play an important role, so there will be need of effective management of the employees and people of the organization (Freeman, 2010). In implementation of the marketing plan, Burger King will create its vision and mission statement. This implementation plan will include all the related activities, their time frame and concerned person, who will be accountable for these activities. For attaining a considerable market share, Burger King will transform its promotional and marketing techniques. The below table demonstrates all the processes and activities in the implementation process of the marketing plan of Burger King (West, Ford, & Ibrahim, 2015).
|
Actions |
Starting date |
End Date |
Responsible Person |
Related Department |
|
Establishment of new mission and vision statement |
2/2/2019 |
– |
Senior level managers and directors |
Senior level Management |
|
Discussion about mission and vision with the staff |
3/2/2019 |
– |
Board of Directors and Management |
Top management |
|
Generation of new ideas and opinions |
4/2/2019 |
– |
Creative and interested team members |
All the divisions |
|
Implementation of collected ideas |
1/5/2019 |
– |
Marketing managers |
Marketing division |
|
Implementing the marketing plan |
1/6/2019 |
– |
Marketing and promotion managers |
Marketing and advertising department |
Under the controlling plan, the company will set some performance standards to evaluate the performance of implemented market strategies under its marketing plan. It will be supervised by the top level management team, so that they can evaluate the effectiveness of the plan. After analysis, they will make required changes in the plan and then implement this again in order to achieve predetermined marketing goals and objectives (Chernev, 2015).
Conclusion
Thus, marketing plan of Burger King includes all the related aspects of the company, which are used by the organization in approaching a maximum customer base. However, Burger King is well-established player in the fast food industry, but still it needs to do something new and innovative to enhance its business operations. In addition to market penetration, the company should focus on product innovation also. The above report includes all the required aspects of marketing plan of Burger King, such as; marketing strategies, target market, objectives etc. SWOT analysis of company states that it is a well-established brand in the fast food industry and operating its business globally. So, company is able to generate significant revenues and profits from its business operations. This marketing plan of the company will assist it in enticing the customers towards its products and services. After considering the market trends and changes in customer needs, the company should focus on introducing its new segment with healthier food products. It will help the company in competing with its leading competitor, i.e. McDonalds.
References
Burger King Corporation. (2017). About Us. Retrieved from https://www.bk.com/about-bk.
Burger King Corporation. (2017). Diversity. Retrieved from https://www.bk.com/diversity.
Chernev, A. (2015). The marketing plan handbook. Cerebellum Press.
Cobb, Catherine (2008). “Burger King relents, agrees to extra penny-per-pound payment to aid Fla. tomato pickers”. Nation’s Restaurant News.
Dominici, G. (2009). From marketing mix to e-marketing mix: a literature overview and classification. International Journal of Business and Management, 4(9), 17-24.
Freeman, R.E. (2010). Strategic Management: A Stakeholder Approach. Cambridge University Press.
Goi, C. L. (2009). A review of marketing mix: 4Ps or more? International Journal of Marketing Studies, 1(1), 2.
Kipley, D. & Jewe, R. (2015). Effective Strategic Management: From Analysis to Implementation. Cognnella.
Kotlar, P. & Armstrong, G. (2012). Principles of Marketing (14 edition), Pearson Education, Inc.
Luttrell, R., (2016), Social Media: How to Engage, Share, and Connect, Rowman & Littlefield
Luxton, S., Reid, M. and Mavondo, F. (2015). Integrated marketing communication capability and brand performance. Journal of Advertising, 44(1), pp.37-46.
O’Guinn, T, Allen, C, & Semenik, R, (2011). Advertising and Integrated Brand Promotion, Cengage Learning
Ryan, D., (2016). Understanding digital marketing: marketing strategies for engaging the digital generation. Kogan Page Publishers.
Scarborough, N.M. (2015). Entrepreneurship and effective small business management. Pearson Higher Ed.
Shimp, T.A. (2008). Advertising Promotion and Other Aspects of Integrated Marketing Communications. Cengage Learning.
Thorson, E. and Moore, J. eds. (2013). Integrated communication: Synergy of persuasive voices. Psychology Press.
West, D. C., Ford, J., & Ibrahim, E. (2015). Strategic marketing: creating competitive advantage. Oxford University Press, USA.
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