Role of a Market Consultant for BK
This is a recommendation for a menu strategy that will help in putting Burger King in its best competitive position.
My recommendation would be to consider a healthy option. This is will be done through the introduction of a new menu item that is different from what its competitors offer. This way the company will attract more customers away from its leading competitor, which is McDonalds. The similarity of products and resources and the commonality in the market significantly determines the attack the company will receive from its competitors (Williams, 2010, p. 230). If Burger King’s commonality is stronger than that of McDonalds, then the competitor company will be less motivated to attack. This will in turn give the company a competitive advantage in the market.
An attack is a competitive move that is aimed at reducing the competitor’s market profit and share. The menu strategy will enable the company to be stronger; this means that any competitive attack invented, will produce a competitive advantage that is sustainable (Williams, 2010, p. 230). The Burger King company does not therefore, need to reduce its prices and hence will not have to lose any money. The move to introduce a new menu will mean that the company will be entering a new market and a new line of business. This will require that the company involve the use of specially advertised promotions (Williams, 2010, p. 231). The way a company enters a market determines the way the company is committed to gaining and defending their market profits and share.
The company should maintain its brand image by trying to close the gap between what is delivered and what was promised. This will be ensured through improved services keeping in mind that the customer is king. The company should define its position in the customer’s mind. This can be done by convincing customers that what they are offering has a healthier advantage than what its competitors are offering. The company should operate in a manner that is morally right and not purely for commercial gains. The strengths of taking such moral actions will determine the commercial and competitive advantage of the company. Ethical behavior is a source through which products can be differentiated from rival companies. This thus promotes the loyalty of customers.
Williams, C, (2010). Management, New York: Cengage Learning.