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MLA
Subject:
Business & Marketing
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Research Paper
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English (U.S.)
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Topic:
Marketing Plan Business & Marketing Research Paper
Research Paper Instructions:
Write a marketing plan for a new BURGERFI Restaurant franchise operation to be built in the future, at a location of your choice within the United States. Your project should contain the following sections, in the following order.
1. Introduction (15 points, 2 pages)
Include a description of the franchisor (BURGERFI) and what it does. Use your own words here; paraphrase and summarize. Also include the company mission statement, the location of your chosen site (including the address and documentation that the property is available), and the reason for choosing this location. Finally, provide an introduction to the rest of your paper by providing a brief overview of what you will discuss.
2. Market Analysis (35 points, 3 pages)
a. Target Markets. Describe your target markets (at least three). Identify each target market as geographic, demographic, or psychographic. Use information from the franchisor, but also consider new targets for your business. Support your descriptions with research about the markets. (25 points)
b. Positioning Statement. Describe the position of your product in the minds of your target markets. In other words, what will your customers and potential customers think of when they think of your operation? How is this different from the competition? (10 points)
3. Environmental Analysis (45 points, 4 pages)
a. Analysis of competition. Who are your three or four primary competitors? Where is each located? Focus on the competitors of your specific unit in your specific location (not those of the parent company). How will they affect your new business? (20 points)
b. Describe all of the other external environmental factors that will affect your business. Identify, research, and explain the types of factors and how they will affect your business and/or your target markets that you identified in Section 2. Identify each factor as a threat or an opportunity. (Do not do competition here. Cover this separately in Section 3a.) (25 points)
4. Works cited/Grammar/Spelling/Format (5 points):
Use the MLA method, making sure to cite your sources throughout your paper. Significant deductions will be made for grammatical errors.
Research Paper Sample Content Preview:
Burgerfi and its Marketing Plan
Student’s Name
Professor’s Name
Course
Date
BurgerFi Marketing Plan
1 Introduction
1 Description of the franchisor
BurgerFi is a new American fast food restaurant which has recently entered into the better burger competition. BurgerFi is the abbreviation for Burgerfication of the Nation. The fast-food chain opened its first franchise in the year 2011 in Florida only to expand to 106 more locations in a short span of time. BurgerFi offers modern cafe ambiance to its visitors where they can dine-in and relax. It was promoted as an all-natural roadside burger café with classic taste and high-quality ingredients. The menu includes burgers, sandwiches, French fries, drinks and desserts along with plant-based burgers and veggie burgers (Franchise Chatter 2016). The company claims using 100% natural ingredients and no preservatives and ended up receiving customer endorsement. BurgerFi expanded its business across borders with its first international franchise in Kuwait in 2016.
Klein (2019) stated that the fast-food company is known for its environmentally sustainable practices using eco-friendly and recycled material for restaurant equipment including furniture to packaging. The transparency of its processes and ingredients provide an edge to the business. Everything in the restaurant is prepared from scratch since there is no freezer and use of all organic food is ensured. BurgerFi uses top meat and other ingredients produced in America for its menu. BurgerFi is referred to as the fastest-growing fast-food chain of America due to its unique features.
2 Company Mission Statement
The mission statement of BurgerFi is “To change the way we think of the burger” (Klein 2019). Burgers are usually perceived junk food which is unhealthy. BurgerFi is towards the mission to change this concept by introducing burgers and fast food menu which has natural and healthy ingredients without any preservatives or additives.
1.3Location of Chosen site
The location selected for the new franchise opening in Seattle, Washington. The suggested location address for BurgerFi franchise is 402 NE Northgate Way #463, Seattle, WA 98125, United States. This property is available in the Northgate Way area of Seattle in North-East of the city where some of the popular fast-food restaurants are situated but there is no branch of BurgerFi in the entire city which makes it highly attractive for a new concept of the all-natural burger restaurant chain.
1.4Reason for choosing this location
This location is chosen because BurgerFi has no franchise in the entire city. Seattle is the 15th most populous city in the United States and considered to be the fastest-growing major city of America (Balk 2019). It is a seaport city which provides huge opportunities for fast food restaurants due to the busy cosmopolitan life of the people in the city. The selected location provides huge potential for customers and large profits due to its menu and restaurant environment and design. BurgerFi is one of the fastest-growing fast-food chains and the suggested location provides immense opportunities and incredible experience to the franchise and local burger lovers.
1.5Intro to the paper
The subsequent paper includes the marketing plan for a new franchise opening of BurgerFi in the city of Seattle. It includes market analysis of the business while analyzing different target markets through geographic, demographic and psychographic perspective. The report also encompasses the positioning statement for the fast-food franchise. Moreover, it consists of environmental analysis for the new franchise keeping in consideration the competition analysis. The external environmental factors are explored which can have an impact on the operations of the company in the new suggested location. They include economic, technological, legal, competitive, customer demands and other social factors.
2 Market Analysis
1 Target Market
The target market of the business is the customer segmentation into different groups and marketing efforts to focus on that particular group of customers. It is about evaluating the needs and expectations of a particular group of customers to meet their demands. BurgerFi promotional campaign targets each segment of the market with its all-natural burger experience (Industry News 1).
Seattle is one of the populous cities of the United States which has a population of 750,000 people. The average income of people is $93,481 making it an upper-middle-class city. Seattle is considered to be the fifth most expensive city in the United States (Madeline 2019). The city is a racially diverse place to live in with the majority of white people (63%) followed by Asians (16%), Black (15%), Latinos (7%) and other from different ethnicities. the demographic distribution of Seattle makes it an attractive and profitable place for burger franchise with unique features (Seattle 2019). The target market for BurgerFi in Seattle is selected to be the young generation because it comprises of the larger demographic group in the city.
a.Millennials
Millennials are the age group from 23 to 38 years. They comprise the largest group residing in Seattle which is approximately 33.5% of the total population of Seattle. This age group generally prefers eating out (Balk 2019). Defining millennials as one of the key target markets for BurgerFi is aimed at increasing sales of the company and earning huge revenues.
* Geographic
This target group is geographically dispersed all over the city. They live in different areas of Seattle. Millennials living in the city belong to different backgrounds but have similar characteristics as a citizen of the United States. The eating-out culture is evident among this age group across the world. The selected location for the franchise is Northgate way. Northgate is a commercial neighborhood where hotels, malls, parking, college and restaurants are presently making it an attractive place for a burger franchise. The target age group has the utmost reach in this area for various purposes.
* Demographic
The Millenials in Seattle can be divided into different ethnicities, educational background, income level, gender and race. BurgerFi targets this millennial from all the demographic groups which belong to the upper-middle class due to pricing strategy of the fast-food restaurant which comparatively higher than other burger eateries. The high quality and all organic ingredients of BurgerFi make it a comparatively costly. However, people from different ethnicities and racial backgrounds can enjoy natural food at BurgerFi because of its diverse menu which includes burgers ranging from beef, bacon, chicken and cheese to all plant or veggie burgers.
* Psychographic
The millennials are more concerned about their health, diet and have their own specific lifestyle. Therefore, millennials from different psychographic groups are included in the target market for BurgerFi franchise. They include the working class, Upper class or upper-middle-class and skilled working class. The target groups also include people who prefer urban lifestyle endorsing eating out culture. People who make healthy lifestyle choices are also the target group of BurgerFi since they opt for all-natural organic ingredients with no additive or preservatives in their food. So individuals from this age group who are more concerned about their food and its ingredients are the primary target group of the fast-food chain.
b.Students
Students are the second most important target group of BurgerFi. The eating-out culture and fast food habits are common among students. 23% of students consume fast food on a daily basis in the United States (Spencer 2019). The fast-food consumption is increasing at a rapid pace among students but on the other hand, their attitude towards healthier fast-food options is also changing (Caitlyn et al 2). They are more conscious of the eating choice they make on a daily basis. BurgerFi provides them with a healthy eating option with all organic ingredients used in its burgers, fries, sandwiches and desserts.
* Geographic
The geographic segmentation of students entails that student s in the city of Seattle belong to different ethnicities and countries. They might be foreign students or locals from different ethical backgrounds. Al these student groups are the target market of BurgerFi franchise. The North Seattle College is the nearby location which is the key target of the BurgerFi. The fast-food chain may provide membership or special discounts to the students to attract college students.
* Demographic
The students can be segmented into different groups on the basis of gender, education level such as secondary schools, high school, college or university. Since the students in the United States work and earn so fast food affordability is relatively highe...
Professor’s Name
Course
Date
BurgerFi Marketing Plan
1 Introduction
1 Description of the franchisor
BurgerFi is a new American fast food restaurant which has recently entered into the better burger competition. BurgerFi is the abbreviation for Burgerfication of the Nation. The fast-food chain opened its first franchise in the year 2011 in Florida only to expand to 106 more locations in a short span of time. BurgerFi offers modern cafe ambiance to its visitors where they can dine-in and relax. It was promoted as an all-natural roadside burger café with classic taste and high-quality ingredients. The menu includes burgers, sandwiches, French fries, drinks and desserts along with plant-based burgers and veggie burgers (Franchise Chatter 2016). The company claims using 100% natural ingredients and no preservatives and ended up receiving customer endorsement. BurgerFi expanded its business across borders with its first international franchise in Kuwait in 2016.
Klein (2019) stated that the fast-food company is known for its environmentally sustainable practices using eco-friendly and recycled material for restaurant equipment including furniture to packaging. The transparency of its processes and ingredients provide an edge to the business. Everything in the restaurant is prepared from scratch since there is no freezer and use of all organic food is ensured. BurgerFi uses top meat and other ingredients produced in America for its menu. BurgerFi is referred to as the fastest-growing fast-food chain of America due to its unique features.
2 Company Mission Statement
The mission statement of BurgerFi is “To change the way we think of the burger” (Klein 2019). Burgers are usually perceived junk food which is unhealthy. BurgerFi is towards the mission to change this concept by introducing burgers and fast food menu which has natural and healthy ingredients without any preservatives or additives.
1.3Location of Chosen site
The location selected for the new franchise opening in Seattle, Washington. The suggested location address for BurgerFi franchise is 402 NE Northgate Way #463, Seattle, WA 98125, United States. This property is available in the Northgate Way area of Seattle in North-East of the city where some of the popular fast-food restaurants are situated but there is no branch of BurgerFi in the entire city which makes it highly attractive for a new concept of the all-natural burger restaurant chain.
1.4Reason for choosing this location
This location is chosen because BurgerFi has no franchise in the entire city. Seattle is the 15th most populous city in the United States and considered to be the fastest-growing major city of America (Balk 2019). It is a seaport city which provides huge opportunities for fast food restaurants due to the busy cosmopolitan life of the people in the city. The selected location provides huge potential for customers and large profits due to its menu and restaurant environment and design. BurgerFi is one of the fastest-growing fast-food chains and the suggested location provides immense opportunities and incredible experience to the franchise and local burger lovers.
1.5Intro to the paper
The subsequent paper includes the marketing plan for a new franchise opening of BurgerFi in the city of Seattle. It includes market analysis of the business while analyzing different target markets through geographic, demographic and psychographic perspective. The report also encompasses the positioning statement for the fast-food franchise. Moreover, it consists of environmental analysis for the new franchise keeping in consideration the competition analysis. The external environmental factors are explored which can have an impact on the operations of the company in the new suggested location. They include economic, technological, legal, competitive, customer demands and other social factors.
2 Market Analysis
1 Target Market
The target market of the business is the customer segmentation into different groups and marketing efforts to focus on that particular group of customers. It is about evaluating the needs and expectations of a particular group of customers to meet their demands. BurgerFi promotional campaign targets each segment of the market with its all-natural burger experience (Industry News 1).
Seattle is one of the populous cities of the United States which has a population of 750,000 people. The average income of people is $93,481 making it an upper-middle-class city. Seattle is considered to be the fifth most expensive city in the United States (Madeline 2019). The city is a racially diverse place to live in with the majority of white people (63%) followed by Asians (16%), Black (15%), Latinos (7%) and other from different ethnicities. the demographic distribution of Seattle makes it an attractive and profitable place for burger franchise with unique features (Seattle 2019). The target market for BurgerFi in Seattle is selected to be the young generation because it comprises of the larger demographic group in the city.
a.Millennials
Millennials are the age group from 23 to 38 years. They comprise the largest group residing in Seattle which is approximately 33.5% of the total population of Seattle. This age group generally prefers eating out (Balk 2019). Defining millennials as one of the key target markets for BurgerFi is aimed at increasing sales of the company and earning huge revenues.
* Geographic
This target group is geographically dispersed all over the city. They live in different areas of Seattle. Millennials living in the city belong to different backgrounds but have similar characteristics as a citizen of the United States. The eating-out culture is evident among this age group across the world. The selected location for the franchise is Northgate way. Northgate is a commercial neighborhood where hotels, malls, parking, college and restaurants are presently making it an attractive place for a burger franchise. The target age group has the utmost reach in this area for various purposes.
* Demographic
The Millenials in Seattle can be divided into different ethnicities, educational background, income level, gender and race. BurgerFi targets this millennial from all the demographic groups which belong to the upper-middle class due to pricing strategy of the fast-food restaurant which comparatively higher than other burger eateries. The high quality and all organic ingredients of BurgerFi make it a comparatively costly. However, people from different ethnicities and racial backgrounds can enjoy natural food at BurgerFi because of its diverse menu which includes burgers ranging from beef, bacon, chicken and cheese to all plant or veggie burgers.
* Psychographic
The millennials are more concerned about their health, diet and have their own specific lifestyle. Therefore, millennials from different psychographic groups are included in the target market for BurgerFi franchise. They include the working class, Upper class or upper-middle-class and skilled working class. The target groups also include people who prefer urban lifestyle endorsing eating out culture. People who make healthy lifestyle choices are also the target group of BurgerFi since they opt for all-natural organic ingredients with no additive or preservatives in their food. So individuals from this age group who are more concerned about their food and its ingredients are the primary target group of the fast-food chain.
b.Students
Students are the second most important target group of BurgerFi. The eating-out culture and fast food habits are common among students. 23% of students consume fast food on a daily basis in the United States (Spencer 2019). The fast-food consumption is increasing at a rapid pace among students but on the other hand, their attitude towards healthier fast-food options is also changing (Caitlyn et al 2). They are more conscious of the eating choice they make on a daily basis. BurgerFi provides them with a healthy eating option with all organic ingredients used in its burgers, fries, sandwiches and desserts.
* Geographic
The geographic segmentation of students entails that student s in the city of Seattle belong to different ethnicities and countries. They might be foreign students or locals from different ethical backgrounds. Al these student groups are the target market of BurgerFi franchise. The North Seattle College is the nearby location which is the key target of the BurgerFi. The fast-food chain may provide membership or special discounts to the students to attract college students.
* Demographic
The students can be segmented into different groups on the basis of gender, education level such as secondary schools, high school, college or university. Since the students in the United States work and earn so fast food affordability is relatively highe...
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