Strategic Insights on Fast-Food Branding and Market Boundaries

1 Traditional Market Boundaries Jasmina Sprayberry Colorado Christian University MKT-460A- Product, Development and Pricing James Douglas July 26th, 2020

2 Traditional Market Boundaries Many Americans lead and live a busy life , convenience is huge in any aspect of our lives. Anything we can pretty much think of it’s either available immediately or it can be. So it is no surprise that fast-food industry is always bringing in a huge profit. Everywhere we look we can find a fast-food restaurant. This is an industry that has been rapidly growing and it will continue to grow. One of the main reason fast-food industry is extremely popular is because it’s inexpensive, and it tastes great to most. The fast food restaurants is a huge category, so to narrow it down I will be utilizing a fast food premium restaurant Good Times Burgers. It is convenient, fast, and moderately priced. When we look into the Blue Ocean strategy and try to implement it with Good Times Burger we can start off with creating the four action framework. The framework is a strategic tool used to reconstruct customer value elements. This is the main tool that is used in the Blue Ocean. (Kim, & Mauborgne, 2015). At Good Times Burger the niche will be to pay a little higher price rather than McDonalds to say but to still maintain a fast food category. The strategy will be not to compete but to create a newer market by being different while keeping things at a low cost. Eliminate Choice between quality food and super cheap food Tips Raise Awareness of the quality of ingredients. Hospitality Reduce Menu Complexity TV ads Create Quiality and gourmet fast-food menu

3 To create the framework we must ask ourselves four questions, the first being which of the factors should be eliminated that the industry has taken for granted? Most fast-food restaurants are based around super cheap food. At Good Times we will never give the customer a choice of the “dollar menu” all of the menu will be quality at an affordable price. We will eliminate “tip jars” or any form of tipping. Giving our customer the worry free experience. When it comes to reducing, we have to ask ourselves which factors should be reduced well below the industry standard. Just as (Kim, & Mauborgne, 2015 p.36) state the simplicity if offering only two wines at the start- a red and a white – streamlines the Wines business model.” At Good Times the menu will have plenty to offer but it will be simple, quality and not overwhelming. We will reduce Tv Ads, we live in an age of social media. Reducing television ads will not only save money, but utilizing social media will help us target different demographics. Social media over TV ads can help us quickly establish transparency. We want our customers to know and to trust that they can trust our service and food quality, and what better way to get that message across than social media. The third question asked is what factors should be raised beyond industry standard? At Good Times we want our customers to know that we take pride and full identity on how great our food tastes due to the premium and natural ingredients. We want our customers to know that we won’t utilize GMO products. Another huge factor that will be raised is hospitality, we will invest in proper training, and the incentives. Lastly, what factors should be created that the industry has never offered? The main focus will be offering quality and gourmet food, we will create an atmosphere where our customers don’t mind waiting an extra few minutes to receive a quality meal. A gourmet burger with no bun, wrapped in lettuce is the innovation that could give the customer a great alterative to enjoy a fast-food good quality burger without the added calories that are within one bun. This product could diverge from other products by

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4 simplify offering a quality taste. It will also be a big draw for individuals that can’t consume gluten but would love a fast-food burger. A compelling tagline could be, quality and gourmet burger with no bun, just crunchy lettuce for all that want to experience a burger that’s low calorie and gluten-free. “Eat anything sold in the meat market without raising questions of conscience.”(Corinthian s 10:25, NIV). We would be adding value to serving our community. Ensuring that consumption of food is good. This a though topic, God created us as consumers but did not create us to consume bad habits.

5 References Kim, W. C., & Mauborgne, R. (2015). Blue ocean strategy: How to create uncontested market space and make the competition irrelevant.

Week 1 First paper

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