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Essay / Research Paper Abstract
This 7 page paper examines a well known supplier and product, Burger King and the Whopper with a product analysis. This includes looking at the product pricing components, including elasticity, substitutes and complimentary goods, cost components, market structure and economic forecasts. These create an understanding of the market and strategies that maybe used. The bibliography cites 6 sources.
Page Count:
7 pages (~225 words per page)
File: TS14_TEburking.rtf
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Unformatted sample text from the term paper:
already uses a strategy of differentiation and complimentary sales, but with high overheads the company needs to control costs and gain economies of scale. This will take continuing marketing and
the used of promotional strategies to main the current position, especially as this is an elastic product. Economic forecasts indicate that interest rates are likely to rise which may reduce
the level of disposable income. However as the GDP is also projected at increasing at a rate higher than inflation, so the impact on disposable income may not very
serious. A. Individual Product Pricing Component Burger King is a well known organisation, selling a range of fast food sandwiches, the main differentiated sandwich is a large
beef patty with salad called a Whopper. This is a product that is differentiated from competitors with the flame grilling and also the way it is presented as being offered
however the customer likes it. The Whopper may be seen as satisfying several needs. The first is that it is food, and satisfies a hunger. However, the need is
more than just hunger, it is also a tasty and convenient snack, that is quick to buy and easy to eat sitting down or on the move, without the need
for cutlery. The location of the restaurant is also important, and as such we can see that it is convenience and taste that are the key demands. There are
a large number of substitutes for this product. Some substitutes are sold by Burger King, such as hamburgers and Chicken Royale. However all forms of fast food may be seen
as a substitute, as they will serve the same purpose, however their suitability as a substitute for any individual customers may be dependant on the location of the restaurant. For
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