Within the fast food industry there are three key success factors that must be considered in order to obtain a competitive advantage in a generally saturated environment. It includes: 1) differentiation, providing 2) high value and 3) convenience.
1) As the fast food industry is becoming increasingly saturated on a global scale, it is especially important for competitors to differentiate in order to avoid directly competing with industry leaders such as McDonald’s. Many competitors such as Burger King and Wendy’s have traditionally competed directly with McDonald’s by offering similar product offerings and price-points. It is important to note that McDonald’s has already established its presence globally and utilized an extremely low-cost and efficient supply chain network concurrently with providing consumers with consistent products and services. Due to McDonald’s worldwide presence, it is extremely difficult for competitors to capture market share if similar menu-offerings are provided as these particular competitors would have to compete by offering lower price-points which is not economically feasible. Due to this fact, it is imperative for competitors to differentiate not necessarily by menu-offerings, but to differentiate by providing consumers with a unique dining experience on a consistent basis. Differentiation includes factors such as a unique organizational culture, cosmetic updates in outlets and most importantly, effective branding that aligns to the modern values and beliefs of everyday consumers.
2) Providing consumers with high value has been traditionally the key demand driver in the global fast food industry and continues to be consistently significant across regional barriers in every cat...
... middle of paper ...
... as Tim Horton’s is the leading fast food chain with a market share of 30.5% which also represents a significant portion of consumers who prefer Tim Horton’s coffee, Burger King should offer Tim Horton’s coffee as opposed to Seattle’s best coffee in its outlets to market specifically to the Canadian region. Alternatively in Asia, there is a growing trend for specialty cold drinks such as iced coffee (GCQ Mage) and due to this evidence, Burger King should consider modifying its drinks selection to not only account for this trend, but to further differentiate and obtain a sustainable competitive advantage.
By focusing on value, quality and the global connection in the rejuvenation plan, Burger King will be able to address the key success factors of differentiation, high value and convenience simultaneously while providing consumers with a strong value proposition.
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- Introduction Over the past decade, debates regarding the fast food industry occur frequently. Its substantial impact on the world has changed a way of life, specifically in the United States. The concept of the fast food industry was to create a method that would allow people to purchase cooked food at a faster rate than preparing a meal at home. This method was first introduced to deliver options to those who needed to chow down for lunch but did not have the availability to sit at a restaurant.... [tags: McDonald's, Marketing, Hamburger, Fast food]
2108 words (6 pages)
- Out of the millions of ways to spend twelve hundred dollars yearly, American’s are found to spend this amount of money in the fast food industry. The working class, lower class, and children are mainly attracted through fast food marketing methods. These methods enable continuous growth within the fast food industry, and allow for it to be a staple for these socioeconomic groups. The nutritional value is not a top priority for both parties because it is inexpensive, made quickly, and taste good.... [tags: Nutrition, Fast food, Health, Fast food restaurant]
1296 words (3.7 pages)
- McDonald’s Sustainability The purpose of this paper is to introduce you to the fast food industry, how it is everywhere in the United States and increasingly spreading globally. The majority of the fast food restaurants in the United States is dominated by hamburger fast food restaurants. Amongst the burger segment, McDonald’s is the number one leader in the burger industry, followed by Burger King, and Wendy’s respectively (Oches, 2011). After a brief introduction and history of McDonald’s, you will be guided into what measures McDonald’s uses in their journey to a more sustainable business.... [tags: Fast food, McDonald's, Fast food restaurant]
1451 words (4.1 pages)
- The McDonald’s Corporation case study take a comprehensive look into the competitive market of the fast food industry. Particularly, McDonald’s and some of it greatest fast food competitors. In this analysis I will be revealing the marketing strategies of McDonald’s and other fast food companies. Identifying the trending tastes of consumers in this market, tactics used by McDonald’s competitors such as Wendy’s and Burger King to one up the marketing strategies of McDonald’s. I’ll also be assessing the strength, weaknesses, opportunities and threats of McDonald’s in this market segment.... [tags: Fast casual restaurant, Fast food]
828 words (2.4 pages)
- Introduction This assignment first gives an insight to McDonald’s corporation history and current situation. Then it describes the management features that are inherited from the founder, Ray Kroc and how the performance is impacted by the founder. I. An Introduction to McDonald’s Corporation McDonald’s holds the biggest name in the world’s fast food industry today. Since it’s foundation in 1954, McDonald’s has satisfied the customers with its main product, hamburger. With having more than 35,000 restaurants located in US, Europe, Canada, Asia Pacific, Meddle East and Latin America; it serves 52 million customers daily (McDonald’s 2006 Annual Report, 2007).... [tags: Fast Food Industry]
1201 words (3.4 pages)
- FAST FOOD IN CHINA+INDIA VS AMERICA Fast food, the real American meal. By Americans, for Americans, right. Not exactly, fast food is made and eaten in many countries other than ours, and their citizens are the ones preparing the meals. This essay will talk about fast food in China, India, and the U.S. as well. CHINA A 2012 study in “Fat Reviews Journal” compared the chance of chronic unwellness in China to alternative countries, including the U.S. The researchers found that more than twelve % of Chinese youngsters and adolescents aged seven to eighteen were overweight and about 1.7 million youngsters underneath eighteen suffered from obesity.... [tags: Fast food restaurant, Hamburger, Fast food, KFC]
1153 words (3.3 pages)
- A Competitive Fast Food Firm Firms within the fast food industry fall under the market structure of competition. Market structure is a classification for the key traits of a market. The characteristics of a market that is competitive would include: a large number of buyers and sellers, easy entry to and exit from the market, homogeneous products, and the firm is a price taker. Take McDonalds fast food restaurant for example. In 1954, Ray Kroc became the first franchisee appointed by Mac and Dic McDonald in San Bernadino, California.... [tags: Fast Food Industry]
1151 words (3.3 pages)
- The hospitality is taken from the term ‘hospice’, meaning a house of rest for pilgrims during medieval times (Grottola, 1988). Hospitality may be defined as the reception of guest and catering to their needs and expectations, these may include food, beverage, lodging, and transportation, activities/Entertainment, shopping and supporting services. Hospitality entails a mixture of tangible and intangible factors that include the behaviors of employees and make available for guest’s security, psychological and physiological comfort (Brotherton, 1999).... [tags: Hotel, Hospitality industry, Lodging, Yahoo!]
864 words (2.5 pages)
- Think back to last year’s Super Bowl. What do we really remember about the event. One might say the game-winning drive, the players excitement, but what most of us remember was the commercials. The hilarious Old Spice commericals, the creative, funny, car commercials, and most importantly the dozens of commercials about food. Ranging from Campbell’s Soup, to Snickers, to Coca Cola, these commercials seem to be shown just for our entertainment; however, although we might not realize it, they do influence our decision making down the road.... [tags: Fast Food Nutrition 2014]
1500 words (4.3 pages)
- INDUSTRY BACKGROUND AND OVERVIEW Industry: Digital Cameras (Photography) The digital camera industry is, without a doubt, one of the newest industries in the world. With the first electronic camera being invented in 1981 and the first consumer digital invented in 19951, the digital camera actually traces its roots back to the photography industry. In 1888, with the development of the silver halide film slide and the portable camera by George Eastman2, capturing and recording images has always been popular throughout the history of mankind.... [tags: Airline Industry Overview]
1800 words (5.1 pages)