Marketing Management-burger king Free essay! Download now
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Marketing Management-burger king
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| Words: 592 | Submitted: 29-Dec-2011
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DescriptionMarketing strategy for burger king
Burger king, founded in Miami in 1954 by James McLamore and David Edgerton, serves almost 12 million customers a day at more than 11,000 restaurants in 69 countries. However, since the early 1990s the profits and success of BK restaurants have steadily declined, while rivals McDonald’s and Wendy’s grabbed its market share. While 10 CEOs passed through BK in 14 years, CEO number 11, Greg Brenneman, is finally turning things around. This charismatic, driven CEO has implemented new strategies that have boosted sales 6.8 percent in restaurants open more than a year—the largest increase in more than ten years. The company’s market share is also expected to show improvement this year after falling since 1999.
To approach the issues facing BK, Brenneman took a simple path and initiated the “go forward plan”, which required a single sheet of paper to articulate. He set straightforward goals for the company: to earn money, bring in more customers and build enthusiasm in existing customers, and motivate BK employees. To reach those goals, he first lashed the costs of building new BK restaurants from $1.3 million to $970000 by recommending making new stores smaller. His idea was supported by research that suggested that most customers currently order food to go, so the new BK prototype has about half the previous number of seats. The kitchens of these new stores are also smaller to make preparation more efficient. IN addition, Brenneman wants the new stores built with materials readily available at Home Depot. Doing all of this may save up to 50 percent on the price of land. Which should enable franchisees to achieve profits more quickly. In addition to reducing the size of the new restaurants, the company has introduced a new “industrial chic” decoration scheme, which executives believe will be a major draw for customers. About 12 of the new stores were open by the fall of 2005. When Brenneman took the reins at BK, the company had just one project idea on the table. To take the company forward, he is determined that now there will always be at least 30 project ideas in the works. His first project was the Enormous Omelet Sandwich, which raised breakfast profits 20 percent.
One of Brenenman’s biggest challenges is soothing franchisees, who are vital to the firm’s continuing success. In particular, one group of franchisees is unhappy that a recent $340 million ad campaign targets teenage males at the expense of other market segments, especially women. While some franchisees worry that the advertising focus is too narrow, a spokeswoman for BK says that sales-the only way to measure success- have been up since the campaign began. Other issues of concern to franchisees relate to new ...
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