Burger joints are no longer the obvious front runners when it comes to the fast food business. McDonalds is still in first place but now Subway and Starbucks claim the 2nd and 3rd spot respectively in largest chains. People are now more focused on what they are eating and are looking for healthier alternatives whenever they can get them. Smaller chains like "Five Guys" have shown that people will also pay more for a burget that is made-to-order and also contains better ingredients. Burger King has failed to keep up with the changing times and is now looking to reinvent itself and improve in the future.
Burger King has gone through a very rigorous reevaluation and examination of its current offerings after being purchased by 3G Capital. The meetings involved everything from oils and eggs in mayonnaise to the intensity of vanilla used. Many of the offerings being rolled out seem to mirror McDonalds but it is what the consumer wants. Along with the food, the restaurants themselves are being renovated from their current aging appearance. Franchisees also are getting a 50% discount on the annual $50,000 franchise fee.
Advertising is also getting beefed up with commercials featuring popular celebrities. Burger King wants to stress how much the store has changed from its past. In a competitive market like this, where fast food, no longer simply means "burgers and fries." Companies need to find ways to innovate and re-establish themselves as something modern. Burger King has been around for a very long time and so has McDonalds but McDonalds always keeps adding and removing things from their menu to stay ahead of the times.
Read the full article at: http://www.google.com/hostednews/ap/article/ALeqM5in3sqZbXhPsLKovi_S3bVBkMOq6w?docId=0d1ce06d4aab4a4db711236bab016575
I think it's true that nowadays, people are very curious and wary of the ingredients in their fast food, whereas before all that mattered was that it was cheap and tasted good. This was an interesting article, because we've all seen other fast food companies reinvent themselves with the changing times, but Burger King has been dragging its feet for a while.
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