Traditional and Innovative Promotional Strategies †MyAssignmenthelp

Question: Discuss about the Traditional and Innovative Promotional Strategies. Answer: Introduction: Veggie burger is the newly introduced product of Burger King, which is one of the well-known burger brands operating all over the world. The company introduces the new product in the market as a newly formed strategy that it is planning to aim. The Veggie burger is made keeping in mind the nutritious needs of the customers. The burger is made up of some of the nest available real vegetables and whole grains. The grains have been freshly bought from the Morningstar Farms. The toppings for the burger are made of fresh lettuce, white onions, pickles, ketchup, juicy tomatoes and mayo. For extra taste, there are some extra flavors of toasted sesame seed. The product is designed to offer right amount of nutrition to people and meet their nutrition need because of its low calorie, right amount of protein, fats and other nutrients (Veggie Burger, 2017). The targeting strategy focus at the type of customers the company will target with its products. Accordingly, the company decides the content and design of the product. Similarly, the Veggies burger is introduced by Burger King have targeted the young generation, vegetarians and health conscious people (Veggie Burger, 2017). This is because the teenagers love having snacks on daily basis and health conscious people will get to eat something tasty along with caring for their health. Thus targeting is based on demographic and psychographic segmenting the customers. Positioning is the image that the brand makes in front of their customers about their product (Hollensen, 2015). With the introduction of Veggie Burger, Burger King has positioned itself as one of the healthy brand serving healthy snacks for customers (Veggie Burger, 2017). It has tried to placed itself on the mind of the people as a healthy fast food brand. The brand is inventing this new strategy in the marketing to cope up with the tough competition. Packaging is one of the most important strategies adopted by any brand to increase its brand recognition. Similarly, Burger King has changed its packaging strategy for its new Veggie burger product in order to make it easily recognized by the customers (Veggie Burger, 2017). The brand usually used a glass shaped box to offer to is customers with a empty white space for customer comment. For the new burger, the company has used paper-packaging system to make the burger attractive to the customers. According to Harrington, et al., (2017) product strategy is one of the most important strategies for the business to grow. Products are the main tool by which the business carries out its expansion strategy. The product strategy that Burger King has recently planned is a Veggie Burger to present itself differently in the fast food market. The brand has introduced many kinds of fast food products from time to time according to their expanding strategy. Thus, this time the veggie burger is a newly designed healthy food that the company is introducing. As stated by Aghaie, et al., (2014) pricing strategy is one of most crucial marketing strategy that helps the organization decide about their customers and further success process. Pricing strategy includes various types of pricing level such as premium pricing, competitive pricing and others. Burger king has also decided to introduce its new veggie burger at a competitive price of $3.29 This is because its main customers will be teenagers and college goers that are health conscious and love having fast food. Thus in order to make the burger affordable for these non-earners, the brand has followed such pricing strategy. Thus, pricing strategy is made with the aim of attracting maximum customers. According to Teimouri,et al., (2015), place is considered as the idea that the brand consider to distribute its product to the customers from various places. Distribution channels include physical stores, outlets and online channels. The distribution channel used by burger king for offering its product to the customers are physical stores, outlets and online. The company maintains its own stores and online website from which the customer can provide the product. Online channel is best because the young customers are mainly active in the online channels. According to Momin et al., (2014), positioning is the best way to increase your recognition among customers. Promotional strategy is done according to the aim of the brand to reach the type of customers. Thus, burger king is introducing a product that aims at targeting the young generation. Thus for the purpose the company is strategizing social media, television commercials to target the customers. Young customers are very active in social media and would be targeted easily. Moreover, the office goers and college students can also be easily targeted by it. Importance of Service Dominant(SD) Burger King sells veggie burgers around the world. This fast food industry is so successful that the company is trying to launch its burgers in other vegetarian friendly market in the world. The importance of service dominant industry is that it focuses from the perspective of the customers. These cover all the economic and social impact of the business. Social media is providing functionality that is critical in this service dominant industry. The centralized manufacturing industry helps in creating benefits of scale and it also helps in interaction with the customers. Burger King is trying to create a value proposal that will help to compete with the other low priced burger companies and thus this has created a dominant logic. Building relationship with the customers is not only intrinsic to the entire marketing process of Burger King but to the industry as a whole. The employees are identified as the service providers in Burger King and they satisfy the customers. The service domi nant logic has argued that communication must be characterized by dialog and communication. This marketing conversation is considered as an integral part of the marketing process and Burger King can control the entire situation. According to Lusch Nambisan (2015), the service dominant logic is related with three important aspects. It can be referred to as a major paradigm shift and considered as an alternative form of marketing. Marketing is regarded as a continuous economic and social process which has been trying to focus on the operational resources. The key drivers which are associated with the service dominant logic are the competitiveness of the firm, collaboration and applied knowledge. Gronroos Gummerus (2014) has predicted that the service dominant logic also enhances the understanding of the discontinuous innovation that are trying to implement significant change on the customers creation of market value and its impact on the market share. The collaborative competence is regarded as the main determinant in the acquisition of competitive advantage of the firm. The firms can help in attaining the competitive advantage through engagement of the customers and creation of value network in production p rocess. The 7Ps of the marketing process is an important tool for the businesses men and it helps the marketers to determine the offerings of the product. These 7ps are the marketing tactics help to satisfy the customers in the targeted market. The front line employees of Burger King can be retained through the provision of recognition and reward system. The front line employee wants to get appreciation for their services. The management must appreciate the employees and share how their extra hard work has helped the organization. Burger King has set up the reward system and thus this has incentivize the ideas and innovation which has helped in the further development of the company. According to Aguinis (2013), the monetary reward for the employees serves as a powerful motivator for the company. This monetary reward lays positive outcome such as retention of the employees in the long run. This benefit of monetary reward helps the employees to develop a sense of entitlement. Thus, it can be said that monetary reward helps in job enrichment and acts as an important motivator for the employees. Burger King provides quick services in the restaurant. There is also a provision of take away services provided by the outlets of Burger King. Burger King has many major suppliers. Planning requires trust and collaboration with the employees and this was visible in the retail outlets of Burger King. The customers can place online orders and get their burgers delivered within a short span of time. They also provide assurance of the delivery process and the customers are satisfied with the entire process. Moreover, the customers can also place orders in the store through a phone call. The representatives deliver the burgers from the nearest store of Burger King. According to Harrington et al., (2017) the delivery process of the company plays an important role in retaining its customers and creating competitiveness in the market. The quality and the convenience factors are also an important predictor of retaining the customers of Burger King. There is limited seating arrangement in the retail outlets of Burger King. The interior area of the outlets of Burger King are systematically designed and it is attractive for the customers. The in-house staffs of Burger King provide a warm service of hospitality. There is parking provision for the customers of Kings Burger. Moreover, the customers who visits the stores frequently get free passes for parking. Kings Burger also provides passes to the customers for special occasions or sports events. Burger King has more than 15000 franchise outlets globally which are in operational. The raw materials that are used by Burger King are sourced by third party providers. The customers are aware of the services which are provided by Kings Burger. It has been found that to compete with other competitors in this industry. Kings Burger must include more items in its product range. The company is trying hard to compete with its competitors. The customers had to wait for a short span of time to get their items delivered. On the other hand, the actual delivery time of Kings Burger is high than the expected time. The company must try to improve these process and it must hire more employees to provide quick delivery. There is also a huge communication gap among the customers because only a few section of the people are aware of its services and products. In this competitive market, the customers are aware of the services provided by Mac Donalds and Dominos. Therefore, Burger King must try to improve its promotional strategy. According to Harrington et al., (2016) Burger King tried to focus more on the service quality rather than the product quality. Relationship Marketing The IT platform of Burger King has increased its competitive advantage over its competitors such as Mac Donalds. Burger King has tried to launch various promotional approaches so as to increase its sales and consumption of its product. The customers also has the provision to pay through their websites. The volume of frequency rewards helps in the creation of financial bond. The customers are rewarded with different discount coupons if they frequently visit the stores. The idea of cross selling can be applied by the management committee of Burger King. When any new customer visits the store, they can try to the family packages at a much cheaper rate. This has improved the sales of Burger King. According to Keiningham et al., (2014), the idea of cross selling has improved customer satisfaction. The customization bonds has also improved the sales and profitability of Kings Burger. The use of various social media tools such as Facebook, Instagram has helped in attracting more customers. The customers are also sent various discount coupons through e-mail and SMS and thus this has improved the sales of Burger King. According to Xiao(2015),it is important to know the preferences of the customers so as to improve its service quality The use of balance scorecard by the management committee of Kings Burger has helped in providing a clear idea to its customers. The targeted growth rate that the company is trying to achieve in the next few years are described and explained clearly to its employees. This will help the management to keep a track of the performance of the front line employees to improve the sales of the company (Nrreklit Mitchell, 2014). The employees will work according to the target set by the company. As, a result, this will improve the internal business of Burger King. The customers will get an idea of the product quality. Moreover, the balance scorecard gives a clear idea of the future plans which are to be taken by the company. According to Boscia McAfee (2014), innovation, post sale service and operations are regarded as the main internal business perspective of the company. It has been found that from the market share, customer acquisition, customer profitability and customer retention are th e main outcome measures of the company. Social/Ethical Marketing Burger King will use green marketing strategy to produce, reclaim and promote its product. The home delivery service that is provided by Burger King is eco-friendly. The burgers are packed in paper box and are sent to the customers. Moreover, the services that are provided in the stores of Burger King are eco-friendly. According to Cheema et al.,(2015) he impact of green marketing mix ahs improved customer satisfaction and customer loyalty of Burger King. This corporate image has laid significant contribution and positive relationship between customer satisfaction and customer loyalty. Burger King has tried to discontinue its beef products and planned to create a fundraising burger. This has increased the global media coverage and it will take more time to capture the market. According to Khan et al., (2016) the cultural differences creates effectiveness of the social media metrics in loyalty and brand recommendations. The fast food industry has been improving considerable sales during the last quarter. The net sales has improved by more than 70% whereas the revenue of the company has declined by 26.5%. The global re-franchising transactions and the currency movement has increased the revenue of the company. The RACE model is used to measure customer dissatisfaction. It has been found that the management committee is trying to carry out research to measure customer dissatisfaction (De Mooij, 2013). It has been found that the customers are dissatisfied because they did not receive quality products against the price paid by them. The competitors are delivering higher quality products at the same rate. Burger king is also taking various types of action plan so as to attract more customers. As Burger King is specialized in veggie burgers, the company must try to include some products and this will help to compete with the other competitors in the market. In terms of communication, the customers must cl early communicate with the management committee about their likes and dislikes, this will help the company to improve its product range, and thus they can satisfy the customers accordingly. It is necessary to evaluate the needs and demands of the customers and then implement the changes in the product or improve its product quality (Gouillart., 2014). Customer touchpoints Customer touch points are the main brand points that are associated with customer contact. It is important to identify the touch point and it is regarded as the first step towards the creation of the customers map. The customers can also judge their satisfaction before purchasing a product or a service. The customers can interact with the front line employees of Kings Burger and know their products that are existing or the products which will be innovated by them in the future. The management will know the demands of the customers and they can improve their line of business. The touchpoints map also helps to improve customer satisfaction and this leads to good customer experience. The customers can also interact via e-mail to highlight their grievances if they are not satisfied with the products which are provided by Kings Burger. Kings Burger must also improve its advertisement strategy so as to attract more customers. Unlike its competitors such as Mac Donalds, SUBWAY and Dominos i t must attract its customers through advertisements. The customers will also be satisfied if they get to observe the live preparation of burger like its other competitors. Moreover, this will also enable the customers to judge the quality of the product. Kings Burger will provide training to its frontline employees and it will help in the development of new skills. Moreover, the customers must also trust the employees and thus the frontline employees will solve their problem. Relevant strategies There are certain relevant strategies that must be taken by Kings Burger to resolve the customer issues and problems. When Kings Burger tries to expand its business, they must focus on the experience of the customers and they need to consider on the touch points. Kings Burger must try to ensure that the customers are happy with the product and this is possible through proper interaction. Kings Burger must also try to upgrade its product and they must try to resolve the technical issues of the company. This will help the customers to get their products delivered within their stipulated time. The frontline employees can also serve the customers if they are provided with extra knowledge and training. This is possible only through interactions with the customers. The employees must have an extended and in-depth knowledge of the product and they must have the capability to convince the customers. 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