BurgerFi Marketing Plan Part 2 Business & Marketing Essay

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Marketing Plan BurgerFi Part 2
1.0 Introduction
BurgerFi is the American fast spontaneous chain of restaurants focused on the natural hamburgers, custard, and hot dogs. The first location was opened in the year 2011 in Florida inside the former Burger King. BurgerFi is another participant in the congested field of more upscale fast joints of food burger that makes the upscale statement. The chain has extended over 100 locations since its foundation and was one of the fastest fast-growing food chains in the US in the year 2015 (Poltavska 144). The brand focuses on the components of the sustainable restaurant like the chairs made from the bottles of upcycled Coca-Cola and is created from more than 700000 milk jugs that are upcycled. The marketing plan is developed according to the pricing strategies and promotion mix. This is the continuation of marketing plan part 1 which discuss the strategy of pricing with a range of price decided by the restaurant, the comparison is done as compared to other competitors. Apart from this promotion mix is elaborated which includes the basic ideas applied by the restaurant and how the franchisor looks forward towards promotion like sales promotion, social media and advertising.
2.0 Pricing Strategy
2.1 Price Range of Main Product. The prices of BurgerFi are the consideration of care with which the drinks and food are prepared by the Chefs in the restaurant. The price range of burger Fi includes
Food

Size

Price

Single stack

28 day aged Burger

$6.9

Double Stack

Natural argus

$5.9

Double Stack

Vegefi burger

$8.2

Double stack

28 day aged burger

$9.9

CEO Burger

Vegefi burger

$12.2

2.2 Pricing Strategy and its Comparison with competitors. Since then the restaurant endures offering fresh and the food which is made from scratch with all the ordinary ingredients (Ando et al 209). Burger Fi takes the self-importance in its world-class food which was conceptualized and created by the professional chefs. This is dedicated to high quality even the sauce of the restaurant consists of more than 40 ingredients and has a preparation time of 40 minutes. The main menu contains the hotdogs and the hamburgers which were made that contains 100% natural beef with best and unique flavors. There are some elements of the marketing mix that may specify the price ranges and points of the firm’s beverage products and the food (Zheng and Guo 1408). The restaurant aims to use the prices to maximize the margin of the profit and the volume of sales. Burger Fi uses the mixture of the following approaches of pricing
* Bundle pricing Strategy
* Psychological pricing Strategy
In bundle strategy of pricing, the restaurant offers the bundles of products along with the meals for the rates that are reduced, compared to obtaining the items independently. For example, the customers purchase the meal or an additional value meal to enhance the price of the product and the cost. In psychological pricing, the restaurant uses the prices which appear expressively. The strategy of pricing helps to encourage and ...