Product Launch Report: Fast Food
|✅ Paper Type: Free Essay||✅ Subject: Marketing|
|✅ Wordcount: 1733 words||✅ Published: 2nd Oct 2017|
This project is about super deluxe burger combo developed by BURGER FUEL named as “RICHIE FREAKOUT “as Richie is New Zealand rugby team captain and is well known personality all over. When we heard his name Words like passion, energy, power, effectiveness strike in our mind. This combo meal include flat bread bun having different variety of meat. Will be given with energy drink rather than soft drink. The need to introduce this is as young generation intake energy drink a lot and consumption of healthy energy giving product is more so by providing this combo we will likely to target the young teen which play crucial role in our store as more than 50% of sale is dependent on them. The need to introduce this burger is as customer are more demanding and need innovation in product by introducing new flat bread bun this deluxe combo with energy drink make customer attracted.
Burger Fuel is a New Zealand owned chain of burger restaurants with 52 locations around the world including 46 locations in New Zealand.it is high energy burger brand that experience huge success in Middle East and now exposing growing market in New Zealand. Burger fuel is leading top brand in food market now a days.
Burger fuel is well known KIWI brand as it known for its specialaiolisauce, freshness, taste.
As it is very interesting to know that 31 March 2013 resulted in a profit of $1,098,294. This was a 55% increase in the profit from that of previous year of the $708,360.
Which result in total sale of $ 49.3M in current year. Making it compare with last year there is increase of 29.2% in total sale of burger fuel which is huge achievement. (annual report burger fuel 2013, 2013)
IDEA OF THE SUPER DELUXE COMBO
New burger fuel super deluxe burger combo name as “RICHIE FREAKOUT” is going to be introduced in young market era where people are mainly concern with intake of energy, healthy and nutritious diet.
This deluxe combo will be provided with ENERGY DRINK and also the combo will have flat bread. Burger fuel try to focus on each and every people in market now a days youngster have more intake of energy drink. As now all people are concern with health issue new flat bread bun in introduced which is oil free with no fat. We try to focus young generation as in past few years are sale likely to increase due to variety we provide to them.
As we have new super deluxe combo which is different from offering of different competitor but still we have competitor in market:
- Burger King
But since we having number of competitor but idea to introduce flat bread bun and energy drink with combo meal is likely to be new.
By introducing this super deluxe burger combo burger fuel try to target young generation as they play crucial role for each and every company. As we look profits of burger fuel from past few years. According to annual report of burger fuel up to financial year 31 March 2013 has again demonstrated a significant improvement in his performance. The small chain of business continue to grow and is becoming stronger both in local and international market
As at 31 March 2013 there were 44 Burger Fuel outlets operating and the Group has Considerable Young generation like the different combo meals offer by burger fuel.
As our product price are generally high as we offer quality product. But keeping in mind combo is designed for young generation price is likely to be moderate will be provided with addition deal on Weekends. Increasing sale by giving additional sale make sale to go high and will increase profit margin.
POSITIONING OF THE PRODUCT
As most of business can’t afford investing of thousands of dollars in advertising and promotion every month as it is going to increase price of product as we are introducing new super deluxe combo meal at reasonable price. By spending more on advertisement will likely to increase combo price so by making new pamphlets of store different combo highlighting super deluxe deal in beginning will make people to know about product and also we will able to introduce our other combo through it.
The product involves all its particular features and benefits. It can be seen from the Salad Cream campaign that a decision was taken not to alter the taste of salad cream and only to change the bottle shape and packaging. Hence, the product aspect of the marketing mix was left relatively unchanged.
In the case of Salad Cream the price aspects of the mix were altered: price was increased, because focus group research supported the view that a price increase in Salad Cream would be acceptable to consumers. Promotion aspects were considerably changed. The advertising and promotional campaigns described above were extensive. Finally, place within the marketing mix was also unchanged in terms of the places where consumers could buy Salad Cream. No new sales outlets or distribution points were suggested by the campaign team.
Price is one of most important element which create sales revenue, price of product is important determinant of value of sale made. Price is determined by market forces in accordance with time and circumstances. Deluxe combo must be introduced keeping in mind the total cost and market trend prevailing in market.
Promotion is business communication it will provide information that will assist customer to buy. However successful promotion will result in increase in sales. By making well designed pamphlet highlighting super deluxe combo will likely to attract the people which is good for company. Other method which can be used for introducing are:
- Radio and television
- Poster and media
- Internet sites
- Promotion campaigns
Product placement also known as product brand by which product is integrated in marketing practises. Marketing practise such as advertising, promotion brand name, package and other. In product placement
The audience involve get to know about the product. By advertising super deluxe combo in television in between movies interval people will do come to know we must have to pay attention toward our combo layout
Richie freakout is different from that of other combo deal which is being provided in store as combo come up with:
- Flat bread bun
- Energy drink
Launching a new thing requires addressing the four marketing pillars of price, product, promotion and place of sale. To analyse each of these areas, we need to examine strengths, weaknesses, opportunities and threats to help minimizing our risks and maximize our resources before we run our promotion activities.
The combo we introducing it satisfy the need and demand of young generation as combo is designed according to their preferences and recommendation given by them. We manage to provide this combo with basic price out profitability will be quite less in accordance with out combo we provide but this deluxe combo will attract wide range of people which is good for us.
A weakness is related with unnecessary things that happen. We must be prepare with the any short coming arise or any problem face during the process. We had to pay attention toward cost involve as we specialise in providing fresh.
As we introducing new deluxe combo it will give great opportunities. As we coming up with new upcoming this will create great opportunities as they will attract number of youth which will create demand not for this but for overall combo. As we having lower overhead costs than a mature competitor, we might be able to price our self more competitively.
Once we enter the market place, our competitors will likely to react. One of the biggest threats we face is our competition prevailing in market. We must have our backup plans for your pricing, promotion and distribution channels so that we can respond to competitor changes taking place.
- This case study has examined burger fuel ability to use innovation in developed market place. There is need to innovate efforts in expanding market. The case study include some elements like
- Demand and preferences of customer to identify market opportunity
- Product innovation
Introducing this super deluxe combo will create great opportunity this will not only give company a competitive advantage but will give sustained advantage to increase profitability. Hence if super deluxe combo is introduced it will build a strong relationship with our young generation.
- First of all there must be proper stock of raw material as we deal in serving fresh meals
- Manager must forecast sale of store and must have estimated stock
- As we know providing energy drink there must proper set up of machinery to serve it.
Ntec Concordia institute
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