Marketing is a social and managerial process by which individuals and organisations obtain what they need and want through creating and exchanging value with others. It involves building profitable, value-laden exchange relationships with customers; therefore we define marketing as the process by which companies create value for customers and build strong customers relationships in order to capture value from customers in return, Kotler & Armstrong (2010).
Burger King Corporation (BKC) is one of the world’s leading fast food restaurants with more than 12,170 restaurants in 76 countries throughout the world. The chain offers a range of burgers, sandwiches, salads and breakfasts, french fries, soft drinks and other food items. The company generates revenue from three sources: retail sales at company restaurants, franchise revenues and property income of restaurants that BKC lease or sublease to franchisees. (Marketwatch).
A product can be an idea, service, good or any combination of the three. It is a network of tangible and intangible attributes, including functional, social and psychological utilities or benefits. There are three levels of product; the core, actual and augmented product. The core product is the level that provides the perceived or core benefit or service. In burger Kings case, their core product is the service they provide to the customer, taking their order, and serving their food. The actual product is a mixture of several different factors: the features offered, quality, durability, design, product styling, packaging and the brand name. Burger Kings actual product is the actual food and drink they sell, the quality of that food and of course the Burger King brand name. The augmented product is the support aspects of the products, e.g. customer service and after sales support. With Burger King, the way they treat their customers would be their augmented product. They are the 2nd most popular fast food chain in the world behind McDonalds...
Please join StudyMode to read the full document