Literature Review on Promotional Strategies Used by Fast Food Restaurants
The fast food and beverage industry is growing rapidly. The Global fast-food restaurants are coming in the Indian market. The perception of customers about fast-food restaurants are made through positive word-of-mouth communication, vulnerability in promotion activities from fast food restaurants and former personal experiences. Fast food restaurants are one of the prominent businesses that can gain profit quickly because it salves the human’s primary need: Food. Making a good quality food is not a key differentiator in food restaurant business. It also includes other key elements from marketing mix like pricing, location and promotions mix strategies. This research study aims to provide a fundamental background of fast-food restaurants focuses on promotional strategies and also helpful for discovering different types of promotional strategies and their use for promoting a fast-food restaurant business. This study also aims to identify the key challenges present in the promotional activities and find the new strategies to build strong brand equity, and it is also useful for engage the target customers for fast food restaurants. Pervasive literature review was carried out for the study. The data for this study was collected from journals, e-journals, website, books, articles and social media platform. Word-of-mouth strategy is important in restaurant business for increasing sales and to grow business. Social media has come up with new tools which can be aligned with the traditional methods of promotion. Fast food restaurants success is depending on the implementation of a different type of social media strategies and tools, encourage customer feedback through feedback channels, and formulate strategies to overcome challenges while implementing social media marketing strategies and other promotional campaigns.