Individual Assignment #3: Burger King

1-Identify and evaluate the performance of the selected company strategic goals or objectives

Performance, strategic goals, or objectives of Burger King

The strategic planning process of the company depicts some key strategic directions. Burger King contains an effective strategic plan, which also depicts its strategic goals and objectives. For Instance, the strategic goal of the company is to expand the business in different markets to grab the immense range of customers and drive sales in the competitive market. Another goal of the company is to gain a competitive advantage. The objective is to convert the competitive advantage into the sustainable competitive advantage. The third strategic goal, which has been derived from the strategic plan, is to reduce the impact on the environment through effective sustainability practices. These initiatives can lead to higher profitability, which is also one of the most prominent objectives of the company. The performance of strategic goals or objective is good. The company has focused on different business strategies to expand the business in different countries. The firm has successfully entered different markets due to its low-cost measures.  The low-cost production of the company has enabled the quick response, and it justified the expansion process. Also, the performance of the goal of the competitive advantage has remarkably improved.  Low cost and differentiation strategies have helped the company gain competitive advantage in the presence of many other fast-food rivals in the fast-food Industry.  However, it seems a long journey to keep it sustainable for the long run. Burger king has successfully achieved its goals and objectives in the competitive market. It is due to the assertiveness and determination of the company to grow in different markets and depict its dominance. Thus, it can be said that the performance of goals and objectives is improved. However, trends are changing, and there is a need to streamline some improvisations in the business process to integrate in an effective and lucrative manner (Gregory, 2017).

2-Define the selected company critical success factors and complete a competitive profile matrix.

Critical success factors and complete a competitive profile matrix of Burger King

The management of this fast-food giant is driving the business by sustaining its key success factors. In recent years, Burger King has outperformed big fast-food companies such as McDonald and Wendy. It has been revealed the firm makes 1.19 million sales per location.   These two competitors are struggling to sustain the brand image. On the other hand, burger king, due to the high quality and differentiation, has successfully increased its sales. It seems to be a key success factor (Lutz, 2015).   Moreover, the key success factor of the company is its simplicity. For Instance, the firm keeps things simple in an intense rivalry. The management just adds new products to the profit line and enhances the promotional process. It is backed by market research, which helps to derive several customer insights. Simplicity helps the company to depict the effective customer focus, and it works for this company. Another key success factor is differentiation. However, it is not contradicting to the simplicity of the company. For Instance, the firm comparatively offers low-cost products to its customers along with sustained high quality. It is a differentiating factor, as other brands are charging the customer against the quality and the brand image. Thus, it is how this firm works differently, which creates a positive impact on customers and makes them assertive in the fast-food market. Another key success factor is the rapid business expansion. Operations have expanded into more than 70 countries now (Lutz, 2015).

Competitive Profit Matrix of Burger King

3-Identify and evaluate the selected company’s unique selling proposition

Unique selling proposition of Burger King

The Unique selling proposition of the company is the quality and differentiation. In different advertisement campaigns and promotional activities, the firm has streamlined its efforts to sustain the quality and come up with a different fast food product for customers. Interestingly, it has assisted the company to switch or convert customers. However, the firm is taking several steps to create this unique selling proposition. For Instance, Burger King identifies its target audience. It is the first step that the company takes in this process. The target customers are teenagers and young adults, who like the fast food products. Interestingly, the firm uses different traits to communicate with customers. In the marketing communication process, the firm tells customers what problem it solves for them. Of course, immense customization has helped to meet the needs of customers. The quality of food and taste are the main issues of target customers, and these are resolved effectively. Also, in the marketing communication process, the firm always aims to describe the benefits. Quality and features are explained through the comparison, which leads towards positive customer preferences. The way of creating the unique value proposition is working for this company. Differentiation and quality are the two main elements which are triggered. Burger King is offering the product that the unique as compared to other firms. In this modern fast food market, customers like to buy a product that is different and creates value for them. Apart from the quality, the differentiation process is linked with the unique packing, environment, and pricing. The unique selling proposition is effective for the firm to increase sales, expand the business, reach new customers, and word of mouth. Trends in the fast-food industry are changing, and there is always a need to reshape the strategy to enhance customer switching. The most important thing is to give a reason to the customer to select the brand (Businessknowhow.com, 2013).

4-Are there any global trends that could be positively or negatively impacting the selected company? List and discuss at least three of each.

Global trends that positively or negatively impact Burger King

There are many global trends, which are creating a positive impact on Burger King. For Instance, trends of initiating corporate social responsibility are in the limelight. Every firm is looking to adopt the CSR initiatives to reduce the environmental impact. The sustainable environment and the healthy society have become top global trends. In the United States of America, Obesity has emerged as the prominent health issue. Accordingly, the company takes several health measures to shape its fast-food products, and it seems the great contribution towards the healthy society.  In this modern era, the trend of streamlining products and services on social media channels is grabbing the attention of both large and small organizations. Social media marketing seems worthy to companies now.  Burger King, being a large organization, has successfully shifted its marketing process. It facilitated the company to reach the maximum customers. Thus, the impact of all these global trends in the business of Burger King is positive. With the passage of time, these trends can be changed, and strategies can be altered accordingly. It depends on the capabilities of the company to embrace these new trends, drive growth, and ensure maximum profitability. Another global business trend is the merger or acquisition. Fast food firms are entering different markets by acquiring different companies. It increases the market share and enables successful market entry.  It also created a positive impact on Burger King. The firm has depicted its partnership with the Budweiser. The purpose is to increase the market share and justify the expansion process (Diaz, 2018).

References

Businessknowhow.com. (2013, November 7). 3 Simple Rules for Creating an Effective USP. Retrieved from https://www.businessknowhow.com/marketing/effective-usp.htm

Diaz, A.-C. (2018, June 27). Budweiser’s ‘Whassup’ Is Back, With Burger King As Party Crasher. Retrieved from https://adage.com/article/advertising/budweiser-s-whassup-returns-burger-king-crashed-party/314045/

Gregory, L. (2017, February 6). Burger King’s Generic & Intensive Growth Strategies. Retrieved from http://panmore.com/burger-king-generic-intensive-growth-strategies

Lutz, A. (2015, June 2). Burger King’s secret to becoming the most successful fast food chain. Retrieved from https://www.businessinsider.com/burger-kings-business-strategy-2015-6