Competitors Analysis
DIRECT COMPETITORS
Byron
Byron was born from the concept of doing “a simple thing properly” – the simple thing being the preparation of a burger. Byron has positioned itself has a casual diner with very high food quality standards.
The restaurant sources the best beef from Scotland, which is cooked fresh every day.
The décor of each and every Byron restaurant is subtly different, which is sets it apart from most chains of its type. Byron has a very simple menu with only 6 types of burgers available (only one of which is vegetarian). There is however a burger of the month, which shows the brand, is willing to be creative and give its consumers new options.
http://www.byronhamburgers.com
McDonald’s
Started in 1940, McDonald’s is the world’s biggest burger chain. The brand name is extremely well established worldwide. The colours and the logo are instantly recognizable anywhere in the world. The chain now serves 68 million customers a day in 119 countries.(www.Mcdonalds.com)
McDonalds is going to open their first vegetarian restaurant in India where 40% of the population is vegetarian. This is good opportunity for the company to make the most out of the market they are in.
The brand continues to do well despite the negative press it received following the documentary “Super Size Me”, a film which sought to evaluate the impact of a McDonald’s diet on consumers’ health.
http://www.youtube.com/watch?v=HDqqiWhXAFE
Burger King
Burger King was founded in 1954 and has grown to more than 11,500 restaurants in 72 countries worldwide. Having 50 years of industry experience, Burger King has been able to dominate the fast food market to a great extent.
Compared to other fast-food restaurants Burger King has very few salad options and limited choice for vegetarians in search of a burger. The company suffered some bad press following the “Burger King Fires Gross Lettuce Photo Employee” scandal.
http://www.burgerking.co.uk/home
INDIRECT COMPETITORS
Subway
Subway is known for providing a vast range of food choices, including healthy and unhealthy options. Subway was the first brand to come up with the customisation of the sandwich allowing consumers to choose every aspect of their sandwich from bread, to filling, to sauces.
According to an article in The Guardian, Subway has overtaken McDonald’s as the world’s largest fast food chain. “Subway has 33,749 restaurant’s to the burger giant’s 32,737”. In the UK the company became the most successful sandwich seller in 2010 but also has more stores than its fast food rivals.
However it’s not known for its good customer service with many customers complaining that Subways staffs are “vulgar and unprofessional”.
Nando’s
Nando’s is a South African casual dining restaurant specialising in Peri Peri chicken. It is the only one of its kind. The brand franchise is located all over world, with a strong UK presence.
The famous chicken logo is simple and instantly recognisable. The brand is now well established and fully integrated into the British eating culture, especially amongst university students.
According to an article in the Guardian newspaper entitled “How Nando’s conquered Britain”, it’s not only one of David Beckham’s favourite restaurants it’s also “the choice for a new breed of confident young multicultural Britain”. (http://www.guardian.co.uk/lifeandstyle)
The brand has 1,258,788 Likes and 7,489 people are talking about it on Facebook (25th Oct 2012). This proves that the brand has a strong online presence. Even though Nando’s has gained a large market share of the casual dining sector, it is clear from the current menu that it has still not been able to expand its options for vegetarians.
(http://www.nandos.co.uk/)
What does this mean for Wimpy?
Wimpy's main competitors are McDonald's and Burger King, both of which sell burgers. As these two major fast food giants constitute Wimpy's main threat, Wimpy will have to come up with something innovative to differentiate itself from these other two well established burger brands.
All of these restaurants fall in to the category of fast food and casual diners have different strengths and weaknesses. Byron and Nando's are casual diners and as such are more expensive than their fast food counterparts. What wimpy should learn from these competitors is to find the best mix of competencies and turns threats into opportunities.
Looking at the competitors a customised burger does not exist in the market. Wimpy can capitalise from this opportunity and gain a larger slice of the fast food market.
