Burger King is also famous as BK, and is the public company, which was established by Insta in 1953. This is the worldwide restaurant chain which is located in almost every country of the world and only deals with the hamburgers and fast food. It is headquartered in Miami-Dade, Florida, United States. However, the company faced some serious complications and got renamed after the purchase and known as Burger King. The ownership of the company changed four times from the first purchase, and still the name remained the same. Its main competitors are; McDonalds, Pizza Hut, KFC, Subway, Wendy’s, and Taco Bell (Burger King, 2018).
Products of Marketing Mix of Burger King
During the initial days of the Burger King, the first menu included the basic desserts, hamburgers, milk shakes, soft drinks and French fries. But gradually, it worked on the menu, and added “Whopper Sandwich”. Its hamburger, which is only a quarter pound, is now the synonymous with the name of the brand, and hence, many other restaurants named them the “Whopper bars”. After this, it also introduced a new and special sandwich line and then also introduced the breakfast menu. After this, French toast and Mini muffins were added in the menu. It also expanded in different areas, and along with some other outlets, menu was localized for adhering the religious beliefs and regional tastes. The fast-food items such as Texas Double Whopper, Swiss cheese and Mushroom sandwiches were rotated in menu several times. Presently, hamburger, bacon cheese burger, juice, coffee, cookies, French fries, whopper junior, onion rings, shake, soft drinks and chicken tenders are served to consumers (Bhasin, 2018).
Price of Marketing Mix of Burger King
Burger King faces the tough competition in the market, and so it uses the competitive pricing strategy, as the strong rivals are McDonalds, KFC etc. Burger King closely evaluates and monitors the pricing policy for the consumers, so that they do not consider it expensive and feel burdenised because of the rates. Besides this, it sets the prices by considering the prices that consumers want to pay, analysts also identify the rivals are changing more or less they are. All types of consumers belong to the various income groups, and so the prices of the food items and drinks differ easily from high to low price range. Prices are high enough only with the thought of having the quality of items and because of this, customers pay willingly. Hence, the combination of psychological pricing and competitive pricing is effectively used by the Burger King (Greenspan, 2017).
Place of Marketing Mix of Burger King
Currently, the Burger King has its outlet almost everywhere across the globe. It is in over 79 countries, and estimated that it has more than 13,000 outlets. Around 66% of the outlets are located in United States, with 99% are owned and operated privately. Burger King’s international locations involve Oceania, Europe, and East-Asian countries such as Singapore, South Korea, Japan, Taiwan, India and Pakistan. Burger King divides itself in global operations among three major and different segments. It established different subsidiaries and established the alliances, which have proven it strategically profitable and sound. For maintaining the expansion plans, the company uses the franchising option. System for operating the franchise of the company depends on the specific region (Burger King, 2018).
Promotion of Marketing Mix of Burger King
The promotional strategy of the company is completely based on revitalizing and reorganizing the brand name at some definite periods. It has overhauled the strategies periodically related to the menu, new agencies, outlet refurbishment, advertisements and the new concept for the fast food restaurants called as the “BK Whopper Bar”. Several campaigns of the company were successful and had some amazing melodious jingles that got super hit and the slogan “Have it your way?” is now famous. It uses television for the advertisement and also the print media for the publicity purpose. It has also aligned with companies which sell scratch-cards, and the prize is any beverage or the food product of Burger King. It owns some charitable organizations like “Have it your way foundation”, which focuses on the disease prevention and the hunger removal from households, and “McLamore Foundation”, which provide scholarships (Bhasin, 2018).
Bhasin, H, 2018. Marketing mix of Burger King. [Online], Available at: https://www.marketing91.com/marketing-mix-of-burger-king/, [Accessed on: 15th July, 2018].
Burger King, 2018. About Us. [Online], Available at: https://mobile.bk.com/about-bk, [Accessed on: 15th July, 2018].
Greenspan, R. 2017. Burger King’s Marketing Mix (4Ps) Analysis. [Online], Available at: http://panmore.com/burger-king-marketing-mix-4ps-analysis, [Accessed on: 15th July, 2018].