The Fast Food Industry Positioning and Competitive Advantage

The Fast Food Industry: Positioning and Competitive Advantage INTRODUCTION The fast food industry is an ever growing industry regardless of the concerns from many about the health and obesity risks. Despite these risks associated with fast food consumers continue to return indicating there is a high level of competition amongst several members of this industry. This paper will examine and discuss the five following major fast food restaurant chains: McDonald’s, Burger King, Wendy’s, Taco Bell, and Sonic. The all intensive purpose of this paper is to focus on the fast food restaurant industry by exploring the above mentioned chains, the competitive factors in which encompass the industry, the company level factors that capture the firm’s†¦show more content†¦Sonic is the largest chain of drive-in restaurants in America. As a business, we continue to thrive, maintaining strong real sales growth, industry-leading customer frequency and high returns for our stockholders† (â€Å"Corporate Profile†). Each re staurant is significant to the industry in its own way. Some of the restaurants sell similar substitute products, while some restaurants such as Taco Bell sell a different product while implementing the ability to remain at the low fast food pricing. NAICS All industries are given a North American Industry Classification System (NAICS) Code. According to the United States Census (2012) the NAICS was developed â€Å"as the standard for use by the Federal statistical agencies in classifying business establishments for the collection, tabulation, presentation, and analysis of statistical data describing the U.S. economy† (Census.gov). The United States Census classifies the fast food industry with a NAICS number of 722211 under the Limited-Service Restaurant (Census.gov). According to the United States Census definition a limited-service restaurant is described as â€Å"a U.S. industry comprising establishments primarily engaged in providing food services (except snack and nonalcoholic beverage bars) where patrons generally order or select items and pay before eating. Food and drink may be consumed on premises, taken out, or delivered to customers’ location. Some establishments in this industry may provide these food servic es in combinationShow MoreRelatedPositioning : The Battle For Your Mind, Al Ries And Jack Trout1370 Words   |  6 PagesIn the book, Positioning: The Battle for your Mind, Al Ries and Jack Trout teach businesses how to use positioning as a communication tool to reach target customers in an overcrowded marketplace. For many years, many people focus marketing based on the four pieces, which are product, price, promotion, and distribution. 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