Marketing Strategy of Burger King
Burger King is one of the most popular fast-food brands in the world, with more than 100 restaurants in different regions. With more than 60 years of working, It is the largest and most famous name in the fast-food chain industry. Nearly 99 percent of outlets are franchised, and the company possesses 1 percent. In this post, we will discuss some essential marketing strategies used by Burger King. Keep reading to learn more about the Marketing Strategy of Burger King.
Essential Factors in the Marketing Strategy of Burger King:
Segmentation, Targeting, and Positioning:
The company uses geographic and demographic strategies to cater to the varying tastes of different customers internationally. In targeting strategy, they address the requirements of the users.
In positioning strategy, it uses serviceability and convenience factors. Due to these practical strategies, Burger King is one of the biggest and most highly competitive brands in the relative market. Its main tagline is ‘’Have it your way’’.
Competitive Advantage:
Strong Parent Company:
Restaurants Brand International is the parent company of Burger King. They have utilized their infrastructure support and capabilities in order to achieve their targets and purposes. It is a major competitive advantage over its competitors.
Line of Business:
The company produces its money in 3 ways.
- Royalties are paid by the outlets in the form of a percentage of total sales generated.
- Properties leased out.
- Income from the Burger King-owned outlets.
Intellectual Property Rights:
With more than 1000 domain name registration and 4600 Burger King Trademarks, the company owns all the trademarks and registrations around the globe.
BCG Matrix:
Its franchise-owned business is in the star category but the leashed or sub-leashed franchises are still answerable. BCG matrix is really helpful as it tells the different scenarios of a business within the circulation.
Distribution Strategy:
With more than 15000 franchised outlets worldwide, the company is orchestrated by the master franchise in various regions. They get products and raw materials from a third party on the basis of region or area. Its distribution and supply chain network is really effective and the main reason for its success.
Brand Equity:
Burger King is the leading QSR (Quick Service Restaurant) brand globally, with high top-of-mind awareness (TOMA). It is all due to its special and innovative offerings like Whopper, Hamburger, and so on. These innovative products are continuously increasing the market value and market share.
Competitive Analysis:
There is no denying that the fast-food industry is flooded with several local, national, and international brands that provide the same products at competitive rates. They all are working hard in order to gain market share. The biggest strength that makes Burger King highly competitive is its convenience, product choice, service quality, and more.
Market Analysis:
As many local, national and international brands are actively working in the fast-food market, it is intimidating for any company to increase its market share and consumer base. It becomes tougher in developing regions due to various factors like living standards, poverty, unemployment, poor literacy level, and low/per capita income. Burger King is using the franchised model for physical sales and also developing online sales by delivering special offers and discounts to users in order to gain cost control and consumer satisfaction.
Customer Analysis:
Every customer wants to enjoy delicious and safe fast food and drinks. The major customers of Burger King are between the ages of 15-40. In developed regions, every person prefers Burger King due to its innovative deals and offerings. That’s why it is a popular fast-food hamburger restaurant chain in the world.
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