You have been hired as a Marketing Consultant for Burger World. They are the 4th largest fast-food hamburger chain in the country and currently own a 10% share of the market. Their main competitors own 45%, 20%, and 15%. They want you to design a promotional campaign that would be in line with their 5-year business plan of increasing market share by 5%.
In 700-1000 words, state how, in general, how you would go about setting up such a promotional campaign.
Avoid giving merely an unsubstantiated opinion. Be sure to base and cite your answer on the relevant principles and concepts of marketing that were presented and discussed in class as well as in your assigned readings.
The book is:
Basic Marketing: A Global-Managerial Approach, ISBN: 0072525231 Author: William D. Perreault, E. Jerome McCarthy, Jr. Citation Generator
copyright © 2004 The McGraw-Hill Companies
Please find the file attached.
Marketing is much wider than selling and much more dynamic. It is an art to promote a product and motivate the potential consumers to buy the product. The P's of marketing describes the products overall qualities and features to the consumers. Promotion assists in attracting the consumers towards the products and services of the organization. Promotion involves propagating the information about the product, brand and company. A well designed promotional campaign involves a wide range of goals and objectives, which includes sales increase, creating brand equity, positioning, new product acceptance or creating a corporate image. An effective promotion mix comprises of the best fit between advertising, sales promotion, public relations and the services (Perreault & McCarthy, 2004).
The marketing mix pertains to the relative importance of price, product, promotion and place in the merchandising operations. The main objective of promotional campaign is to relate with SMART targets i.e. Specific, Measurable, Achievable, Realistic and Time related. It involves identification & segmentation of target market and focusing on the characteristics of the people. It is developed to make customers more cognizant about the product, brand or service. An effective promotional mix assists in increasing the number of consumers as well as overall market potential (Kotler, 2002).
The fast food hamburger chain needs to design a promotional campaign, which will assist it in increasing the market share. For this, the company has to select best promotional techniques that will be followed with the promotional strategies and promotional ...
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