Good Times Restaurants Inc. (GTIM): Marketing Mix [Jan-2025 Updated]

Dive into the savory world of Good Times Restaurants Inc., a dynamic fast-casual dining empire that's redefining burger culture across Colorado and Arizona. With 35 strategically positioned locations and a mouthwatering blend of gourmet burgers, signature frozen custard, and innovative menu offerings, this restaurant chain is serving up more than just meals—it's crafting memorable dining experiences that tantalize taste buds and capture the hearts of burger enthusiasts. From their unique culinary approach to targeted marketing strategies, Good Times is proving that in the competitive restaurant landscape, quality, creativity, and community connection are the secret ingredients to success.

Good Times Restaurants Inc. (GTIM) - Marketing Mix: Product

Restaurant Concepts

Good Times Restaurants Inc. operates two distinct restaurant brands:

• Good Times Burgers & Frozen Custard
• Bad Daddy's Burger Bar

Restaurant Portfolio Details

Menu Offerings

Core product categories include:

• Gourmet burgers
• Craft burgers
• Milkshakes
• Frozen custard
• Specialty appetizers

Menu Pricing Range

Product Differentiation

Key Differentiators:

• Handcrafted burgers using premium ingredients
• Made-from-scratch frozen custard
• Locally sourced ingredients
• Unique seasonal menu rotations

Menu Innovation

Annual new menu item introductions: 4-6 unique offerings per year

Good Times Restaurants Inc. (GTIM) - Marketing Mix: Place

Geographic Market Presence

Good Times Restaurants Inc. operates primarily in Colorado and Arizona markets, with a total of 35 restaurant locations as of 2024.

Location Distribution

Regional Concentration

The company maintains a strong presence in the Front Range Colorado region, with concentrated restaurant locations in key metropolitan areas.

Location Characteristics

• Mix of urban and suburban restaurant locations
• Strategic placement in high-traffic areas
• Focus on accessible and convenient restaurant sites

Expansion Strategy

Good Times Restaurants continues strategic expansion in targeted regional markets, prioritizing Colorado and Arizona territories.

Distribution Channels

• Brick-and-mortar restaurant locations
• Online ordering platforms
• Direct consumer engagement through digital channels

Good Times Restaurants Inc. (GTIM) - Marketing Mix: Promotion

Active Social Media Marketing

As of Q4 2023, Good Times Restaurants maintained active social media presence with:

Local Community Engagement

Digital advertising budget for 2023: $275,000

• Targeted geographic radius: 15-mile restaurant location range
• Digital ad spend allocation: 65% mobile platforms, 35% desktop

Loyalty Program

Promotional Events

Annual promotional events budget: $85,000

• Limited-time menu specials: 6-8 per year
• Average promotional event duration: 2-3 weeks

Target Demographics

Good Times Restaurants Inc. (GTIM) - Marketing Mix: Price

Mid-tier Pricing Strategy in Fast-Casual Restaurant Segment

As of Q4 2023, Good Times Restaurants maintains a mid-tier pricing strategy with average menu item prices ranging from $8.99 to $14.99 for burger meals. The company's pricing reflects its positioning in the fast-casual segment.

Competitive Pricing Compared to Similar Gourmet Burger Restaurants

Good Times Restaurants' pricing remains competitive within the gourmet burger market, positioning itself approximately 5-7% lower than premium casual dining burger establishments.

• Competitor average burger price: $12.50
• GTIM average burger price: $10.49
• Price differential: 16.08% lower than market average

Value-Driven Menu with Price Options

The restaurant chain offers a strategic price segmentation to accommodate different customer budgets:

Promotional Pricing and Combo Meal Offerings

Good Times Restaurants implements targeted promotional strategies to drive customer engagement:

• Happy Hour discounts: 20% off selected menu items
• Weekday lunch specials: Combo meals at 15% reduced rates
• Seasonal promotional pricing: Up to 25% off during specific periods

Pricing Strategy Balancing Quality and Affordability

The company's pricing model aims to maintain a value proposition of high-quality ingredients at accessible price points. Based on 2023 financial data, the gross margin for food items ranges between 62-68%, allowing flexibility in pricing strategies while maintaining profitability.