Iron and steels are allotropes, meaning they exhibit different crystal configurations. The martensitic transformation is crucial for a variety of processes, such as hardening. It is induced by a combination of undercooling and mechanical deformation. Due to the changing material properties within the phases, and due to topological changes that might occur during the transformation, a phase field approach was chosen that incorporates both the mechanical and the chemical aspect of this problem. A comparison of the Voigt/Taylor approach to the Khachaturyan approach within a multi-variant phase field modeling of the martensitic transformation including a chemical and a mechanical energy contribution is presented in this paper. The model was implemented in the finite element codes FEAP and Z-set independently. Numerical examples are given in order to highlight the features of this model.