Marketing plan for burger king
This marketing plan will help the management of Burger King to collect market data about their current and potential clients, collect information about their current products and services and also that of their competitors. It will also be used to identify Burger King’s current business strategy and come up with a target market strategy. The marketing plan will also identify the various media avenues that are being used by burger king such as paid, owned and earned. The marketing plan will also identify how Burger King will use touch points so as to interact with customers as well as identify two appropriate advertising appeals and sales promotional techniques that can be used to create awareness of its products and services. An appropriate media schedule, promotional placements and location will also be included in Burger King’s new marketing plan. Burger king aims at identifying the target customers group which will help the identify the channel or media through which their advert will reach the target group. Since we want to be the most dominant in the production of the burger, we will apply the product differentiation to be the best. This will enable us to collect the data from our rivals and amylase their raw material, price and their customer relation. By doing this, we will be able to develop mechanisms to counter our competitors. It is assumed that demand is due to a discrete choice model (Berry 1994)
The objectives of this marketing plan is to enable the management of Burger King to gain more knowledge about the market they sell to as well as gain knowledge about their competitors so as to come up with an appropriate strategy that will enable them to sell more products by advertising in the right media. Burger king objectives is also to satisfy the customers and give the affordable and quality products to its customers. The main objectives is also to be able to control the market through monopoly. Burger king want to be the best in making burger in a unique and delicious way that no any other competitors can match
Research and data gathering
The main purpose of conducting research is to enable the management of Burger King to gather information which will help them achieve their objectives and also help in profit maximization. The research and data gathering will help in identifying the main rivals in market and what can be done to beat the rivals. The research and data collection will target various areas like, geographical, demographic research, availability of raw materials, security status of the market .Target market such as age of current and potential customers, their monthly income levels, location, gender as well as needs when purchasing fast food product.( Hair 2007)
Demographic Research and data collection will help the Burger king identify the market population, which will assist in knowing the amount of production in a given area. When the population is bid, then it will force the organisation to increase the production. This will also help in determining the demand and supply ration in a given place. The organisation will also be able to know the target age group. They will be able to know the most age group which consume burger king the most. The research in in determining the most age group attracted to burger king product will enable them identify the mode of media through which they can advertise their product. The most age group who are attracted to burger range from 18-34 (jargon 2010)
Research and data collection on security will help the organisation identify and know how safe their client. The security of the organisation will enable the burger plan for the working period. When customers are safe the organisation is able to make profit since its customers will have no hindrances of any kind. The we will be able to identify other competitor’s security strategies and improve and make it better different from them. This will help attract more customers.
Description of product and services
Burger king products will be prepared with highly qualified staff who have a vast experience in the production of quality burger. Our staff will be highly trained to offer exemplary services. Burger king product will be prepared in a highly hygienic condition with quality ingredients. The burger king management comprises of competent management staff who gives full attention to its clients. Burger king prepare the burger sandwiched with highly prepared meat which got from healthy animals. The bread is prepared in a unique way with locally harvested wheat which is free from chemicals. The meat is found in varieties which include grilled and even flamed. One burger will never be enough since we are the king.
Burger king services will be unique. They will over twenty four hours services which will be easily accessible. The products will be made available in social media whereby there will be able to order the burking services. The payment will be made easy and convenient. One will be able to buy the products and make payment. The delivery of the products will be made at a slightly lower fee compared to other competitor’s fee.
The burger king will developed a software ware all the services will be made available. The software will contain the price of the product, the availability of the product and the quantity of the product left. This will enable the customers to know the amount of the products left so as to avoid inconvenience of. The burger king hotline number will be made available online. This will help our customers get full attention anytime. Burger king will offer sale services in a unique way. The customers will be able to get free ride home when there is any emergency when the customer is found in our hotels.
Overall business strategy details
Burger King’s mainly has four business strategies, they include selling many products, providing customer satisfaction, increasing market share and increasing and maintaining profitability. The above business strategies can be achieved by advertising more, providing multiple products in their product portfolio, providing quality, fast and efficient services, setting up more branches countrywide and keeping business costs low.
Target market strategy
The main purpose of a targeting marketing strategy is to create awareness of the company’s products to potential clients and to entice them to buy the company’s products. The most appropriate target market strategy for the company is by identifying potential customers such as college students and setting up restaurants near colleges, high schools and universities. Burger King can also target sports fans by advertising on sports events such as the superboal. It can target international clients by setting up restaurants at airports or venturing in the international market though franchising. A niche market such as vegetarians can be targeted by offering menus which as free of meat products.
Paid media is an advertising platform that costs an advertiser in order to gain customers by disseminating market knowledge, an example of paid media it television, online, radio, posters and billboards.
Earned media is whereby a company earns customers and can be used to create market awareness without the need for advertising. Such platforms include, social media followers.
This is the type of media that is owned by a company. An initial cost such as investement or set up cost will be needed to acquire such as media. A website is an example of an owned media.