Marketing
7P's Analysis of Burger king
Product - It must provide value to a customer but does not have to be tangible at the same time. Basically, it involves introducing new products or improvising the existing products.
Price - Pricing must be competitive and must entail profit. The pricing strategy can comprise discounts, offers and the like.
Place - It refers to the place where the customers can buy the product and how the product reaches out to that place. This is done through different channels, like Internet, wholesalers and retailers.
Promotion - It includes the various ways of communicating to the customers of what the company has to offer. It is about communicating about the benefits of using a particular product or service rather than just talking about its features.
People - People refer to the customers, employees, management and everybody else involved in it. It is essential for everyone to realize that the reputation of the brand that you are involved with is in the people's hands.
Process - It refers to the methods and process of providing a service and is hence essential to have a thorough knowledge on whether the services are helpful to the customers, if they are provided in time, if the customers are informed in hand about the services and many such things.
Physical (evidence) - It refers to the experience of using a product or service. When a service goes out to the customer, it is essential that you help him see what he is buying or not. For example- brochures, pamphlets etc serve this purpose.
To understand this concept better let's analyse 7 Ps of Burger King-
1 P: Product:
Veg MenusBeveragesNon- Veg MenusFrozen Desserts
•Cares for customer ‘s Sentiments towards religion and culture.
• It has separate cooking area and equipments.
•Takes dietary concern-Burger king Healthier kids club.
2P-Price
•Policy which caters to Indian customers.
•Quite affordable products.
•Importance to Brand and its integrity
3P-Place
•Located at prime
Product - It must provide value to a customer but does not have to be tangible at the same time. Basically, it involves introducing new products or improvising the existing products.
Price - Pricing must be competitive and must entail profit. The pricing strategy can comprise discounts, offers and the like.
Place - It refers to the place where the customers can buy the product and how the product reaches out to that place. This is done through different channels, like Internet, wholesalers and retailers.
Promotion - It includes the various ways of communicating to the customers of what the company has to offer. It is about communicating about the benefits of using a particular product or service rather than just talking about its features.
People - People refer to the customers, employees, management and everybody else involved in it. It is essential for everyone to realize that the reputation of the brand that you are involved with is in the people's hands.
Process - It refers to the methods and process of providing a service and is hence essential to have a thorough knowledge on whether the services are helpful to the customers, if they are provided in time, if the customers are informed in hand about the services and many such things.
Physical (evidence) - It refers to the experience of using a product or service. When a service goes out to the customer, it is essential that you help him see what he is buying or not. For example- brochures, pamphlets etc serve this purpose.
To understand this concept better let's analyse 7 Ps of Burger King-
1 P: Product:
Veg MenusBeveragesNon- Veg MenusFrozen Desserts
•Cares for customer ‘s Sentiments towards religion and culture.
• It has separate cooking area and equipments.
•Takes dietary concern-Burger king Healthier kids club.
2P-Price
•Policy which caters to Indian customers.
•Quite affordable products.
•Importance to Brand and its integrity
3P-Place
•Located at prime