Marktanalyse - Burger King Case Study: Quest to reverse slumping sales
MarketLine
9 /
2012
22 Seiten
| Typ: |
Marktanalyse |
| Sprache: |
Englisch |
| Regionen: |
Europa, Asien / Pazifik, Mittlerer Osten / Afrika, Nordamerika / USA, Australien, Mittel- / Südamerika |
| Verfügbarkeit: |
verfügbar |
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Introduction
Burger King has been overtaken by Wendy’s, losing its second place within the global hamburger market. In an effort to regain its position, the chain has undergone a massive makeover, complete with new menu items, décor, and advertising strategy. Over the past year, the company evaluated all of its ingredients, as part of a yearlong quest to reverse years of slumping sales.
Scope of this research
MarketLine Case Studies describe topics such as innovative products, business models, and significant company acquisitions. Fact-based and presented in an accessible style, they explain the rationale of commercial designs and illustrate wider market and economic trends. Research and analysis highlights
Despite having a global presence, Burger King's revenues are concentrated in North America, with the US and Canada accounting for 67.2% of the company's total revenues in FY2011.
In a bid to stay relevant, Burger King has launched the biggest menu expansion since its first store opened. This forms part of a four-pillar strategy designed to entice consumers back to its restaurants.
Key reasons to purchase this research
What prompted Burger King's drop from the second to the third largest hamburger chain in the world? What approach is the company taking in an attempt to reverse its woes?
TABLE OF CONTENTS
Overview 2
Catalyst 2
Analysis 7
Second largest fast food hamburger restaurant 7
Burger King is one of the most widely recognized fast food brands in the world, with 11 million guests served daily 7
Burger King has a global market penetration, with more than 12,500 restaurants in 81 countries 7
The company's revenue is concentrated in the US despite its global presence 8
Growth with minimal capital expenditure thanks to higher franchise mix 9
Second largest hamburger chain based on number of global restaurants 10
Losing market position 11
US restaurant market expected to reach $632bn in 2012 11
From second to third favorite hamburger chain in terms of revenue 12
There has been a shift in the chain restaurant market 12
Quest to reverse years of slumping sales 13
The $750m strategy 13
Attempts to overhaul the company's image 13
Biggest menu expansion since the first store opening 14
Burger King has stepped up its efforts in the salad space and introduced new 'healthy” drink options 15
11 prototypes before the perfect Homestyle Chicken Strips formula was chosen 15
A thicker coating and less salty formula not enough for its fries to beat the competition 15
Limited-time summer offers 16
Home delivery now available from selected US locations 16
Franchisees to pay an average $275,000 for restaurant remodeling 17
Improved uniform design 17
'Taste Is King” — a new advertising tagline and a bigger focus on ingredients 17
Side dish of controversy served by celebrities 18
80% of new openings are in underpenetrated areas 18
Conclusions 19
Fast food giants are expanding beyond their core business 19
Mimicking more successful rivals 19
Need for better taste or cheaper prices 19
Appendix 20
Definitions 20
Sources 20
Ask the analyst 21
About MarketLine 21
Disclaimer 21
LIST OF TABLES
Table 1: Burger King Corporation invariant company data 7
Table 2: Number of restaurants by geographical segment 8
Table 3: Burger King — key metrics 8
Table 4: Burger King‘s franchise revenue ($m) 10
Table 5: Number of restaurants by company 10
Table 6: Revenues by company 12
Table 7: Burger King — calories in food and drinks 14
TABLE OF FIGURES
Figure 1: Burger King's revenue breakdown by region, 2011 9
Figure 2: Company vs. franchise restaurants 9
Figure 3: US restaurant industry sales 11
Figure 4: Menu revamp 15
Figure 5: The limited time offer Bacon Sundae 16
Figure 6: New restaurants image 17
Figure 7: New faces of Burger King 18
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